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The Emergence of the Global Fintech Market: Economic and Technological Determinants

Christian Haddad and Lars Hornuf

No 2016-10, Research Papers in Economics from University of Trier, Department of Economics

Abstract: We investigate the economic and technological determinants inducing entrepreneurs to establish ventures with the purpose of reinventing financial technology (fintech). We find that countries witness more fintech startup formations when the latest technology is readily available, capital markets are well-developed, and people have more mobile telephone subscriptions. Furthermore, the available labor force has a positive impact on the development of this new market segment. Finally, the more sound the financial system, the lower the number of fintech startups in a country. Overall, the evidence suggests that fintech startup formation need not be left to chance, but active policies can influence the emergence of this new sector.

Keywords: Fintech; Entrepreneurship; Startups; Financial institutions (search for similar items in EconPapers)
JEL-codes: L26 K2 O3 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ent and nep-ino
Date: 2016
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