Fintech and Inclusive Growth: Evidence from 25 Asian Developing Countries
Fintech has the potential to revolutionize the way financial services are delivered, making them more accessible and affordable for underserved populations. With the rise of mobile banking, for example, people can now access financial services using just their mobile phones, without the need for a physical bank branch. This has the potential to bring financial services to remote areas and underserved populations.
The working paper examines the impact of fintech on the inclusive growth of 25 developing countries in Asia. The paper finds that fintech has a substantial positive impact on human development and that financial development such as better economic conditions and higher levels of economic output encourages improvements in human development. It also finds that better institutions can play a significant positive role in human development.
- Related Literature Review
- Data and Econometric Strategy
- Econometric Results
- Conclusion and Policy Recommendation
Published May 2023.
Source: Asian Development Bank Institute
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