Financial technologies and rapid development growth in emerging economies

Jane Khayesi

Chapter 11 in Handbook of Innovation & Appropriate Technologies for International Development, 2022, pp 154-167 from Edward Elgar Publishing

Abstract: Financial technologies, commonly referred to as FinTechs, continue to play a key role in the world, more importantly in developing and emerging economies. Associated with this crucial role of FinTechs is the mushrooming of various types of FinTechs related to a growing body of scholarly research. The chapter reviews existing research on FinTechs in emerging and developing economies with the objective to understand the contribution of FinTechs, especially mobile money FinTechs, to development in emerging and developing economies. Using illustrative in-depth case studies of M-Pesa, PesaChoice and bKash, the chapter discusses how mobile money FinTechs facilitate financial inclusion, digital inclusion/digital sustainability and economic development. Through these contributions, mobile money FinTechs which are a form of appropriate technology for emerging and developing economies, facilitate economic, social and ecological development, thereby addressing various SDGs.

Keywords: Development Studies; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2022
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