The Macroeconomic Effects of Fintech

Naoyuki Yoshino () and Sahoko Kaji
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Sahoko Kaji: Professor of Economics, Keio University

Public Policy Review, 2020, vol. 16, issue 4, 1-19

Abstract: This paper first explains the extremely low level of fintech-related investments in Japan compared with the levels in other countries and the possibility of expansion of investments in new, uniquely Japanese businesses, such as the Furusato (hometown) Investment Fund. Next, the paper makes clear distinctions by prefecture in terms of the necessity of financial and economic education and the current status of such education based on the results of a questionnaire survey conducted by the Central Council for Financial Services Information. Finally, by conducting a theoretical analysis of the impact of fintech on various economic agents, the paper shows that fintech has both positive and negative macroeconomic effects and explains the channels whereby the effects spread.

Keywords: Furusato Investment Fund; financial and economic education; financial literacy map drawn by the Central Council for Financial Services Information; economic analysis of fintech (search for similar items in EconPapers)
JEL-codes: E02 E21 E44 R22 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:mof:journl:ppr16_04_01

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