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Fintech development and savings, borrowing, and remittances: A comparative study of emerging economies

Angela C. Lyons, Josephine Kass-Hanna and Ana Fava

Emerging Markets Review, 2022, vol. 51, issue PA

Abstract: Fintech is rapidly changing the financial landscape, especially in the post-COVID era. This study uses data from the world's first global ranking of fintech ecosystems, the Global Fintech Index (GFI), to investigate the linkages between fintech development and demand for savings, borrowing, and remittances for 16 of the world's largest emerging economies. Our results find a consistently strong and positive relationship between fintech development and financial inclusion. However, considerable heterogeneities persist across population groups and regions. Evidence also suggests that access may not translate to greater usage of financial services. The findings have important implications for future models of financial inclusion looking to harness the power of fintech.

Keywords: Fintech; Digital financial services; Financial inclusion; Emerging economies; Vulnerable populations; Financial security (search for similar items in EconPapers)
JEL-codes: D14 G21 G23 G50 O10 O33 O57 R20 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:51:y:2022:i:pa:s1566014121000509

DOI: 10.1016/j.ememar.2021.100842

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