Financial technology, wealth threshold, and wealth inequality in China

Juan Luo, Shaomin Lin and Jie Zhang

Finance Research Letters, 2024, vol. 69, issue PB

Abstract: This study developed a theoretical model to examine the impact of financial technology (fintech) on wealth inequality from a wealth threshold perspective. The model's numerical simulation results suggest that fintech exerted an inverted U-shaped impact on wealth inequality. Empirical test results based on China Household Finance Survey panel data and fintech index data confirmed this finding. The impact varied across regions and among groups with differing education levels and financial literacy.

Keywords: Financial technology; Wealth threshold; Wealth Inequality (search for similar items in EconPapers)
JEL-codes: D12 D14 G51 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:69:y:2024:i:pb:s1544612324012121

DOI: 10.1016/j.frl.2024.106183

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