Financial Inclusion, Financial Technology, and the COVID-19 Pandemic: The Philippine Case

Margarita Debuque-Gonzales (), Mark Gerald C. Ruiz and Ramona Maria L. Miral

No DP 2023-45, Discussion Papers from Philippine Institute for Development Studies

Abstract: The COVID-19 crisis created conditions for digital finance to accelerate financial inclusion in the Philippines. This paper explores different sources, including survey, administrative, and market data, to compare trends in account ownership and usage before and after the pandemic. Stylized facts about financial inclusion and demographic information across periods are then drawn based on probit regressions, with special focus on digital financial services. This is followed by an analysis of how service providers, consumers, and the government have shaped and continue to shape the digital finance landscape. The paper closes with conclusions and policy recommendations moving forward. Comments to this paper are welcome within 60 days from the date of posting. Email publications@pids.gov.ph.

Keywords: COVID-19; digital finance; electronic money; financial inclusion; fintech; mobile money (search for similar items in EconPapers)
Pages: 59
Date: 2023
New Economics Papers: this item is included in nep-ban, nep-fle, nep-pay and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:phd:dpaper:dp_2023-45

DOI: 10.62986/dp2023.45

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