The rise of digital finance: Financial inclusion or debt trap?

Yue, Pengpeng; Korkmaz, Aslihan Gizem; Yin, Zhichao; Zhou, Haigang

doi:10.1016/j.frl.2021.102604

Cited by 184 publications

(62 citation statements)

References 31 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Current studies have concentrated on the macroeconomic implications of digital finance, including economic growth (12,13); technological innovation (21); and traditional financial market shocks (22). There have been studies exploring the https://www.aljazeera.com/news/ / / /chinas-killer-smog-…”

Section: Introductionmentioning

confidence: 99%

“…Current studies have concentrated on the macroeconomic implications of digital finance, including economic growth ( 12 , 13 ); technological innovation ( 21 ); and traditional financial market shocks ( 22 ). There have been studies exploring the impact of digital finance on microeconomic aspects such as consumption structure ( 23 ), industrial structure ( 11 , 16 ), and household welfare ( 15 , 24 ).…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Haze pollution reduction in Chinese cities: Has digital financial development played a role?

Zhao

Yan

2022

Front. Public Health

View full text Add to dashboard Cite

Based on the exogenous shock of digital financial development in China in 2013, a difference-in-differences (DID) model is set up in this paper to investigate the causal relationship between digital financial development and haze pollution reduction. The finding of the paper is that a one standard deviation increase in digital finance after 2013 decreases the PM2.5 concentrations by 0.2708 standard deviations. After a number of robustness checks, like placebo tests, instrumental variable (IV) estimations, eliminating disruptive policies, and using alternative specifications, this causal effect is not challenged. In addition, this paper explores three potential mechanisms of digital finance to reduce haze pollution: technological innovation, industrial upgrading, and green development. Moreover, the heterogeneous effects signify that the usage depth of digital finance works best in haze pollution reduction. Digital finance has more positive effects in cities in the north and those with superior Internet infrastructure and higher levels of traditional financial development. However, the quantile regression estimates suggest that for cities with light or very serious haze pollution, the positive impact of digital finance is limited. These findings supplement the research field on the environmental benefits of digital finance, which provides insights for better public policies about digital financial development to achieve haze pollution reduction.

show abstract

Section: Introductionmentioning

confidence: 99%

“…Current studies have concentrated on the macroeconomic implications of digital finance, including economic growth ( 12 , 13 ); technological innovation ( 21 ); and traditional financial market shocks ( 22 ). There have been studies exploring the impact of digital finance on microeconomic aspects such as consumption structure ( 23 ), industrial structure ( 11 , 16 ), and household welfare ( 15 , 24 ).…”

Section: Introductionmentioning

confidence: 99%

Haze pollution reduction in Chinese cities: Has digital financial development played a role?

Zhao

Yan

2022

Front. Public Health

View full text Add to dashboard Cite

show abstract

“…Financial inclusion promotes the accumulation of household wealth and also affects residents' happiness through financial behavior and personal wealth. Shen et al ( 2022 ) showed that digital finance not only promotes more residents to invest in financial assets but also increases the proportion of households investing in financial assets, especially among urban households, high-income households, and households in the eastern region, but on the other hand, financial inclusion also increases the risk of households falling into debt crisis (Yue et al, 2022 ). Some research has been conducted by scholars on the impact of investment on happiness.…”

Section: Introductionmentioning

confidence: 99%

Does financial inclusion promote investment and affect residents' happiness?—Evidence from China

Qiu-yan

Sun

2022

Front. Psychol.

View full text Add to dashboard Cite

With the rapid development of inclusive finance, the popularity of financial services is increasing, and the level of financial literacy of residents has gained. Using data from the years 2013, 2015, and 2017 China General Social Surveys (CGSS) and the China Digital Inclusive Finance Development Index to analyze residents' investment behavior in China, this study finds that inclusive finance significantly increased residents' investment participation and decrease their sense of happiness at the same time. This study demonstrates the effectiveness of China's financial inclusion policy and provides ideas for its further improvement.

show abstract

“…However, the existence of a financial inclusion program must be followed by financial literacy (Andreou & Anyfantaki, 2021;Yue et al, 2022). Financial literacy may be a combination of a person's awareness, knowledge, attitude, skill and behaviour to make an informed and practical decision in managing personal financial matters.…”

Section: Introductionmentioning

confidence: 99%

“…Literature about digital financial inclusion is limited (Yue et al, 2022), so the study of the impact of the development of the financial inclusion sector to improve economic development is also still small (Mushtaq et al, 2019). Taking into account the importance of digital technology in increasing the effectiveness of financial inclusion, this study examines the role of digital finance in bringing about financial inclusion among people and how it became an economic booster for the nation and citizens in the times of COVID-19.…”

Section: Introductionmentioning

confidence: 99%

Digital finance, a booster for Indian economy during Covid-19

Kumari

2022

esber

View full text Add to dashboard Cite

An efficient financial system is a prerequisite for a country’s economic growth and development. Financial capability is a key factor to stabilizing and functioning the financial markets. It acts as a building block for the mobilization of saving and allocating them to the productive resources. The government of India along Reserve Bank of India (RBI) have taken a number of policy initiatives to include the large unbanked masses into the financial mainstreams. Recent development in communication and technology can be used in a very efficient manner for bringing the financially excluded people under the ambit of digital financial inclusion in a cost effective manner. The purpose of this paper is to examine the role of digital finance in bringing about financial inclusion among people and how it became economic booster for the nation and citizen in the times of COVID-19. The study collects various reports published by RBI and other financial and nonfinancial institutions as relevant inputs. This research uses thematic analysis with a qualitative approach. This paper finds that Digital financial services have a great capacity to support financial inclusion for inclusive economic development. Especially in the times of COVID19, digital financial services was great help for mankind to its survival. COVID 19 was the situation when there was complete lockdown all over the nation .lockdown was necessary to save life of people and digital finance acted as a booster for any of the economies around the world.

show abstract

The rise of digital finance: Financial inclusion or debt trap?

Cited by 184 publications

References 31 publications

Haze pollution reduction in Chinese cities: Has digital financial development played a role?

Haze pollution reduction in Chinese cities: Has digital financial development played a role?

Does financial inclusion promote investment and affect residents' happiness?—Evidence from China

Digital finance, a booster for Indian economy during Covid-19

Contact Info

Product

Resources

About