Does digital finance reduce the employment in the finance industry? Evidence from China

Jiapin Deng and Yanchu Liu

Finance Research Letters, 2022, vol. 48, issue C

Abstract: Finance has long been a popular major in college education, but the development of digital finance raises the concern about job losses in the finance industry. Using novel panel datasets from China, we document robust city-level evidence that digital finance significantly reduces the employment in the finance industry. Moreover, we find that the labor efficiency in the finance industry increases with the intensity of digital finance, which supports the argument of technological unemployment. Our analysis suggests that more attention should be paid to the potential unbalance between the labor demand and supply in the finance industry.

Keywords: Digital finance; Employment; Technological unemployment; Finance industry (search for similar items in EconPapers)
JEL-codes: A22 E24 G29 J21 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612322002409
Full text for ScienceDirect subscribers only

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:eee:finlet:v:48:y:2022:i:c:s1544612322002409

DOI: 10.1016/j.frl.2022.102994

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().