nep-fle New Economics Papers
on Financial Literacy and Education
Issue of 2022‒07‒25
four papers chosen by
Viviana Di Giovinazzo
Università degli Studi di Milano-Bicocca

  1. Fintech: Financial Inclusion or Exclusion? By Dyna Heng; Yoke Wang Tok
  2. The role of economic growth in modulating mobile connectivity dynamics for financial inclusion in developing countries By Asongu, Simplice A; Odhiambo, Nicholas M
  3. Fintech, Female Employment, and Gender Inequality By Mr. Boileau Loko; Yuanchen Yang
  4. Statistics for economic analysis: the experience of the Bank of Italy By Giovanni D’Alessio; Riccardo De Bonis; Matteo Piazza; Luigi Infante; Giorgio Nuzzo; Silvia Sabatini; Francesca Zanichelli; Romina Gambacorta; Guido de Blasio; Stefano Federico; Juri Marcucci; Laura Bartiloro; Elena San Martini

  1. By: Dyna Heng; Yoke Wang Tok
    Abstract: This paper examines the role of Fintech in financial inclusion. Using Global Findex data and emerging fintech indicators, we find that Fintech has a higher positive correlation with digital financial inclusion than traditional measures of financial inclusion. In the second stage of our empirical investigation, we examine the key factors that are correlated with the Fletcher School’s three digital divide – gender divide, class (rich-poor) divide and rural divide. The results indicate that greater use of fintech is significantly associated with a narrowing of the class divide and rural divide but there was no impact on the gender divide. These findings imply that Fintech alone may not be sufficient to close the gender gap in access to financial services. Fintech development may need to be complemented with targeted policy initiatives aimed at addressing the gender gap directly, and at changing attitudes and social norms across demographics.
    Keywords: Fintech; Financial Inclusion; Financial Development; Inequality; Fintech development; class divide; role of Fintech; appendix A. data definition; Fintech proxy; Digital financial services; Gender inequality; Mobile banking; East Asia; Caribbean; Asia and Pacific; Global; Middle East; Southeast Asia
    Date: 2022–05–06
  2. By: Asongu, Simplice A; Odhiambo, Nicholas M
    Abstract: This study establishes economic growth needed for supply-side mobile money drivers in developing countries to be positively related to mobile money innovations in the perspectives of mobile money accounts, the mobile phone used to send money, and the mobile phone used to receive money. The empirical evidence is based on Tobit regressions. For the negative net relationships that are computed, minimum economic growth thresholds are established above which the net negative relationships become net positive relationships. The following minimum economic growth rates are required for nexuses between supply-side mobile money drivers and mobile money innovations to be positive: (i) 6.109% (6.193%) of GDP growth for mobile connectivity performance to be positively associated with the mobile phone used to send (receive) money and (ii) 4.590 % (4.259%) of GDP growth for mobile connectivity coverage to be positively associated with the mobile phone used to send (receive) money.
    Keywords: Mobile money; technology diffusion; financial inclusion; inclusive innovation
    Date: 2022–03
  3. By: Mr. Boileau Loko; Yuanchen Yang
    Abstract: Fintech, which delivers financial services digitally, promises to promote financial inclusion and close the gender gap. Using a novel fintech dataset for 114 economies worldwide, this paper shows that fintech adoption significantly improves female employment and reduces gender inequality, the effect being more pronounced in firms without traditional financial access. Fintech not only increases the number and ratio of female employees in the workforce, but also mitigates financial constraints of female-headed firms. Digital divide and poor institutions weaken such benefits. Endogeneity is accounted for by a fixed effects identification strategy. We conclude by providing policy recommendations and outlining avenues for future research.
    Keywords: Fintech; Gender Inequality; Employment
    Date: 2022–06–03
  4. By: Giovanni D’Alessio (Bank of Italy); Riccardo De Bonis (Bank of Italy); Matteo Piazza (Bank of Italy); Luigi Infante (Bank of Italy); Giorgio Nuzzo (Bank of Italy); Silvia Sabatini (Bank of Italy); Francesca Zanichelli (Bank of Italy); Romina Gambacorta (Bank of Italy); Guido de Blasio (Bank of Italy); Stefano Federico (Bank of Italy); Juri Marcucci (Bank of Italy); Laura Bartiloro (Bank of Italy); Elena San Martini (Bank of Italy)
    Abstract: The paper provides an overview of the main statistics produced by the Bank of Italy: financial accounts, monetary statistics, balance of payments, household and business surveys. The volume discusses the problems related to the measurement of economic phenomena, how statistics can be used for policy evaluation, the challenges for official statistics posed by globalization, the digital economy and big data. Finally, we show the policy adopted by the Bank of Italy for the dissemination of statistics and the role of the Research Data Center.
    Keywords: central bank statistics, financial accounts, monetary and banking statistics, balance of payment, household surveys, business surveys, financial literacy, policy evaluation, official statistics, globalization, digital economy, big data, dissemination
    JEL: C40 C80
    Date: 2022–06

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