Fintech Development and Savings, Borrowing and Remittances: A Comparative Study of Emerging Economies

40 Pages Posted: 11 Sep 2020 Last revised: 25 May 2021

See all articles by Angela Lyons

Angela Lyons

University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

Josephine Kass-Hanna

University of Saint Joseph (Beirut) - Faculty of Business Administration and Management

Ana Polato e Fava

Federal University of ABC Region

Date Written: May 24, 2021

Abstract

Fintech is rapidly changing the financial landscape, especially in the post-COVID era. This study uses data from the world’s first global ranking of fintech ecosystems, the Global Fintech Index (GFI), to investigate the linkages between fintech development and demand for savings, borrowing, and remittances for 16 of the world’s largest emerging economies. Our results show that fintech development plays a key role in improving financial inclusion. However, considerable heterogeneities persist across population groups and regions. Evidence also suggests that access may not translate to greater usage of financial services. The findings have important implications for future models of financial inclusion.

Keywords: fintech, digital financial services, financial inclusion, emerging economies, vulnerable populations, financial security

JEL Classification: D14, G21, G23, G50, O10, O33 O57, R20

Suggested Citation

Lyons, Angela and Kass-Hanna, Josephine and Polato e Fava, Ana, Fintech Development and Savings, Borrowing and Remittances: A Comparative Study of Emerging Economies (May 24, 2021). Available at SSRN: https://ssrn.com/abstract=3689142 or http://dx.doi.org/10.2139/ssrn.3689142

Angela Lyons (Contact Author)

University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics ( email )

1301 W. Gregory Drive
Urbana, IL 61801
United States
1-217-244-2612 (Phone)

Josephine Kass-Hanna

University of Saint Joseph (Beirut) - Faculty of Business Administration and Management ( email )

Campus of Social Sciences, Huvelin Street
P.O. box 17-5208 Mar Mikhael
Beirut, 1104 2020
Lebanon
+9611421000 (Phone)

HOME PAGE: http://www.usj.edu.lb/

Ana Polato e Fava

Federal University of ABC Region ( email )

Av. dos Estados, 5100
Bloco Delta, 3rd Floor, Room 304
Santo Andre, Sao Paulo 05017-000
Brazil

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
387
Abstract Views
1,143
rank
98,050
PlumX Metrics