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on Financial Literacy and Education |
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Issue of 2025–09–22
four papers chosen by Viviana Di Giovinazzo, Università degli Studi di Milano-Bicocca |
| By: | ANEGUE, Jean De Dieu |
| Abstract: | The purpose of this project is to analyze the impact of mobile payments on financial inclusion in Cameroon using quasi-experimental impact evaluation methods. The results show that the use of mobile payments does increase the propensity of economic agents to hold accounts in formal financial institutions such as banks. |
| Keywords: | Banking Acces , Impact Evaluation Methods |
| JEL: | C91 O1 O12 |
| Date: | 2025–09–10 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126134 |
| By: | Henrik Yde Andersen (Danmarks Nationalbank); Camilla Skovbo Christensen (Department of Economics, University of Copenhagen); Claus Thustrup Kreiner (Department of Economics, University of Copenhagen); Søren Leth-Petersen (Department of Economics, University of Copenhagen) |
| Abstract: | Many people forgo substantial economic gains by not responding to financial incentives, even in major decisions such as retirement savings and mortgage refinancing. But do the same people systematically fail to respond across financial contexts? We study this using a quasi-experimental setting that combines policy changes in pension incentives with shifts in mortgage refinancing incentives from interest rate fluctuations. Linking Danish administrative records, we uncover a striking independence between financial decisions: people who are inactive in one context are not systematically inactive in the other. One implication is that the costs of inaction are not concentrated among specific groups. |
| Keywords: | Tax incentives for pension savings, Mortgage refinancing, inaction |
| JEL: | G51 H24 |
| Date: | 2025–09–16 |
| URL: | https://d.repec.org/n?u=RePEc:kud:kucebi:2511 |
| By: | Yundan Guo; Han Liang; Li Shen |
| Abstract: | Against the backdrop of rapid technological advancement and the deepening digital economy, this study examines the causal impact of digital transformation on corporate financial asset allocation in China. Using data from A-share listed companies from 2010 to 2022, we construct a firm-level digitalization index based on text analysis of annual reports and differentiate financial asset allocation into long-term and short-term dimensions. Employing fixed-effects models and a staggered difference-in-differences (DID) design, we find that digital transformation significantly promotes corporate financial asset allocation, with a more pronounced effect on short-term than long-term allocations. Mechanism analyses reveal that digitalization operates through dual channels: broadening investment avenues and enhancing information processing capabilities. Specifically, it enables firms to allocate long-term high-yield financial instruments, thereby optimizing the maturity structure of assets, while also improving information efficiency, curbing inefficient investments, and reallocating capital toward more productive financial assets. Heterogeneity analysis indicates that firms in non-eastern regions, state-owned enterprises, and larger firms are more responsive in short-term allocation, whereas eastern regions, non-state-owned enterprises, and small and medium-sized enterprises benefit more in long-term allocation. Our findings provide micro-level evidence and mechanistic insights into how digital transformation reshapes corporate financial decision-making, offering important implications for both policymakers and firms. |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2509.09095 |
| By: | De Haas, Ralph; González-Uribe, Juanita |
| Abstract: | We review the literature on the effectiveness of public policies to facilitate firms’ access to finance. The rationale for such policies is to address market failures that cause financial constraints. Using a simple taxonomy, we discuss the current evidence on common interventions to tackle these constraints: public lending through state and development banks, public lending through private banks, subsidized credit, credit guarantee schemes, export credit agencies, publicly backed venture capital, and tax incentives for equity investors. Based on the quantity and quality of the available evidence, we summarize the policies that have proven most effective in helping firms access external financing. In addition, we highlight areas where future research is needed to address current knowledge gaps and to provide more definitive policy guidance. |
| Keywords: | entrepreneurship; small business finance; public policy; financial constraints |
| JEL: | G20 G28 H25 H81 |
| Date: | 2025–08–06 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:129139 |