The Emergence of the Global Fintech Market: Economic and Technological Determinants

Lars Hornuf ()
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Lars Hornuf: Institute for Labour Law and Industrial Relations in the European Union, University of Trier

No 201606, IAAEU Discussion Papers from Institute of Labour Law and Industrial Relations in the European Union (IAAEU)

Abstract: We investigate the economic and technological determinants inducing entrepreneurs to establish ventures with the purpose of reinventing financial technology (fintech). We find that countries witness more fintech startup formations when the latest technology is readily available and people have more mobile telephone subscriptions. Furthermore, the available labor force has a positive impact on the development of this new market segment. Finally, the more sound the finacial system, the lower the number of fintech startups in a country. Overall, the evidence suggests that fintech startup formation need not be left to chance, but active policies can influence the emergence of this new sector.

Keywords: Fintech; Entrepreneurship; Start Up; Financial Institutions (search for similar items in EconPapers)
JEL-codes: K2 L26 O3 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2016-12
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:iaa:dpaper:201606

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