FinTech, economic growth, and COVID-19: International evidence

IF 5.5 Q1 MANAGEMENT

Asia Pacific Management Review Pub Date : 2024-09-01 DOI:10.1016/j.apmrv.2023.12.006

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Abstract

The growth of financial institutions is typically considered a factor that contributes to economic expansion. Financial institutions’ use of financial technology (FinTech) has resulted in changes in the delivery of financial services, subsequently affecting economic growth. However, the pandemic disrupted the demand and supply of goods worldwide, which has had a detrimental impact on the economy. It is worth investigating whether the global economic slump created by the pandemic have a beneficial influence on the national economy because of the introduction of innovative technologies. Using 778 country-year observations from 193 countries between 2018 and 2021, this study examines and finds that the positive impact of FinTech on economic growth is more pronounced during the pandemic. Further analysis shows that this association holds only in countries with high Internet usage, suggesting that the incremental impact of FinTech on economic growth during the pandemic depends on the extent of local Internet usage. Overall, our findings suggest that FinTech plays an important role in reducing the severity of the pandemic’s subsequent economic impact.

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金融科技、经济增长和 COVID-19：国际证据

金融机构的增长通常被认为是促进经济扩张的一个因素。金融机构对金融科技（FinTech）的使用改变了金融服务的提供方式，进而影响了经济增长。然而，大流行病扰乱了全球商品的供求关系，对经济产生了不利影响。值得研究的是，大流行病造成的全球经济衰退是否会因为创新技术的引入而对国家经济产生有利影响。本研究利用 2018 年至 2021 年期间来自 193 个国家的 778 个国家年观测数据进行研究，发现金融科技对经济增长的积极影响在大流行期间更为明显。进一步分析表明，这种关联仅在互联网使用率高的国家成立，这表明金融科技在大流行期间对经济增长的增量影响取决于当地互联网的使用程度。总之，我们的研究结果表明，金融科技在降低大流行病后续经济影响的严重程度方面发挥着重要作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Asia Pacific Management Review MANAGEMENT-

CiteScore

8.00

自引率

4.50%

发文量

期刊介绍： Asia Pacific Management Review (APMR), peer-reviewed and published quarterly, pursues to publish original and high quality research articles and notes that contribute to build empirical and theoretical understanding for concerning strategy and management aspects in business and activities. Meanwhile, we also seek to publish short communications and opinions addressing issues of current concern to managers in regards to within and between the Asia-Pacific region. The covered domains but not limited to, such as accounting, finance, marketing, decision analysis and operation management, human resource management, information management, international business management, logistic and supply chain management, quantitative and research methods, strategic and business management, and tourism management, are suitable for publication in the APMR.