Financial Technology (Peer-to-Peer Lending): Efficiency and Effect on Economic Growth in Indonesia

Ririn Nopiah (), Ratu Eva Febriani and Antoni Sitorus
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Ririn Nopiah: Bengkulu University, Faculty of Economics and Business
Ratu Eva Febriani: Bengkulu University, Faculty of Economics and Business
Antoni Sitorus: Bengkulu University, Faculty of Economics and Business

A chapter in Proceedings of the 1st Bengkulu International Conference on Economics, Management, Business and Accounting (BICEMBA 2023), 2023, pp 116-126 from Springer

Abstract: Abstract The transformation of the digitalization era has experienced rapid growth, especially in the financial services industry, since the emergence of the Covid-19 pandemic in Indonesia. The advances have created Financial Technology (FinTech) through a digital system known as Peer-to-Peer (P2P) Lending, which is in great demand by the public. However, the magnitude of risk management has an efficiency level that needs to be analyzed, and the multiplier effect of promoting economic growth should also be investigated. This study aims to analyze the efficiency level of FinTech P2P lending and the effect on regional economic growth from 2019 to 2022. The results show that P2P lending will be relatively efficient in 2021–2022. The panel data regression indicates that lending positively and significantly affects economic growth. It is expected to be an efficient and accountable online financing service with a multiplier effect on economic growth.

Keywords: Financial Technology; P2P lending; Efficiency; Economic; Growth (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-328-3_14

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DOI: 10.2991/978-94-6463-328-3_14

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