Fintech contribution to Indonesia's economic growth

Athoillah Nasihin Aziz

MPRA Paper from University Library of Munich, Germany

Abstract: Fintech investment increased substantially in 2018 with total global investment dollars in all M&A, PE, and VC more than doubling from $ 50.8 billion in 2017 to $ 111.8 billion in 2018. In Indonesia, the financial technology industry ( fintech) is growing The rapid growth of both fintech payments and loans, this is reflected in the distribution of fintech loans which penetrated Rp33.2 trillion in May 2019, while fintech payment transactions reached Rp47.1 trillion in 2018. Indonesian fintech players are still dominant in the payment business ( 43%), loans (17%), and the remainder in the form of aggregators, crowdfunding and others. The development of fintech has increased Indonesia's GDP by Rp25.97 trillion.

Keywords: Digital economy; financial technology (fintech); economic growth (search for similar items in EconPapers)
JEL-codes: O10 O11 (search for similar items in EconPapers)
Date: 2019-12-30, Revised 2020-01-05
New Economics Papers: this item is included in nep-fdg, nep-pay and nep-sea
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