Digital Financial Access and Financialization: Panel Evidence from the Selected Countries in Asia–Pacific Region

Savitha Basri ()
Additional contact information
Savitha Basri: Manipal Academy of Higher Education

A chapter in Trends and Challenges of Electronic Finance, 2025, pp 15-37 from Springer

Abstract: Abstract Financialization describes how a nation's financial sector has grown and has become significant in relation to the total economy. It denotes the depth, accessibility, and effectiveness of financial institutions and financial markets. Digital transformation is needed for financialization, especially in digital finance focused on mobile and online financial transactions. Financial inclusion and financialization can be accelerated through innovation involving financial technology companies and modern technologies. Few studies have been conducted on how digital finance might improve financialization in emerging economies, which are known for having lower levels of financial development. The present paper focuses on the effect of digital financial access on financialization in Asia–Pacific region. In addition, financialization of savings in India in the last decade was analysed. The data was collected from International Monetary Fund and Reserve Bank of India for the period from 2012 to 2022. The number of ATMs per 100,000 adults and number of debit cards per 1000 adults affects financialization. Value of mobile and internet banking transactions as percentage of GDP is positively associated with development of financial institutions. Singapore leads in financialization followed by Malaysia, Thailand, India, and the Philippines. India can now compete with its rivals due to a high rate of internet penetration, but it needs to encourage the use of electronic payments, increase the number of ATMs in remote and rural areas, and encourage the use of debit cards or online payments.

Keywords: Financialization; Digital; Finance; Debit cards; ATMs; Asia–Pacific; Credit cards; Internet (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-3304-3_2

Ordering information: This item can be ordered from
http://www.springer.com/9789819633043

DOI: 10.1007/978-981-96-3304-3_2

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().