HOW NEW FINANCIAL TECHNOLOGIES RESOLVE ECONOMIC STAGNATION: THE FINANCIAL PERSPECTIVE

Jhih-Hong Zeng () and Ming-Fu Hsu
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Jhih-Hong Zeng: Department of Economics, Chinese Culture University, Taipei, Taiwan
Ming-Fu Hsu: Department of Business Management, National United University, No. 1 Lienda, Miaoli 360301, Taiwan

Global Economy Journal (GEJ), 2022, vol. 22, issue 03, 1-27

Abstract: This research explores how new financial technologies are able to resolve economic stagnation by considering two dimensions of financial technology’s spread: the spread to poor people and that to rural area people. Based on a sample of 109 countries, our findings indicate that the spread of new financial technologies to poor people not only benefits economic growth directly, but also generates an indirect positive influence on economic growth via the channel of financial institutions’ development. By comparison, the effect of spreading financial technologies to rural area people on stimulating economic growth is insignificant. Lastly, we offer some policy implications associated with the results.

Keywords: Financial technology; fintech; financial development; financial inclusion; economic growth (search for similar items in EconPapers)
JEL-codes: G18 G28 O11 O33 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1142/S2194565923500057

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