The Impact of Fintech on Financial Inclusion and Economic Development

Thesis title: The Impact of Fintech on Financial Inclusion and Economic Development
Author: Hîrbu, Ana
Thesis type: Diploma thesis
Supervisor: Brůna, Karel
Opponents: Šímová, Kateřina
Thesis language: English
Abstract:
The rise of Fintech is an emerging topic as it changes the way financial markets operate. Fintech introduces new business models to the traditional financial industry. The existing literature does not provide sufficient empirical evidence on the significant impact of Fintech on financial inclusion and economic development. Research on this topic has mostly been conducted to analyse the relationship between Fintech and financial inclusion, overlooking the broader impact of digital financial inclusion on overall economic development. This paper aims to bridge this gap by conducting a comprehensive analysis of the evolution of the Fintech sector over the past decade, delving into the correlation between socio-economic indicators and Fintech indicators chronologically, regionally, and quantitatively. This study seeks to understand the intricate interplay between different Fintech tools and financial inclusion, as well as their collective influence on economic development. Moreover, the paper endeavours to empirically investigate the effect of both the traditional and Fintech-based financial inclusion in the group of G22 developing nations, by developing indices of financial inclusion, Fintech and economic development. The findings reveal a robust correlation between Fintech-based financial inclusion and accelerated economic development within the G22 group of developing countries. The experiences of emerging economies will serve as valuable benchmarks for future research, providing indispensable insights for governmental bodies and policymakers in developing nations.
Keywords: Financial Inclusion (FI); Economic Development (ED); Traditional Financial Inclusion (TFI); Fintech – Financial Technology (FT); Fintech-based Financial Inclusion (FFI); Financial Econometrics (FE)
Thesis title: The Impact of Fintech on Financial Inclusion and Economic Development
Author: Hîrbu, Ana
Thesis type: Diplomová práce
Supervisor: Brůna, Karel
Opponents: Šímová, Kateřina
Thesis language: English
Abstract:
The rise of Fintech is an emerging topic as it changes the way financial markets operate. Fintech introduces new business models to the traditional financial industry. The existing literature does not provide sufficient empirical evidence on the significant impact of Fintech on financial inclusion and economic development. Research on this topic has mostly been conducted to analyse the relationship between Fintech and financial inclusion, overlooking the broader impact of digital financial inclusion on overall economic development. This paper aims to bridge this gap by conducting a comprehensive analysis of the evolution of the Fintech sector over the past decade, delving into the correlation between socio-economic indicators and Fintech indicators chronologically, regionally, and quantitatively. This study seeks to understand the intricate interplay between different Fintech tools and financial inclusion, as well as their collective influence on economic development. Moreover, the paper endeavours to empirically investigate the effect of both the traditional and Fintech-based financial inclusion in the group of G22 developing nations, by developing indices of financial inclusion, Fintech and economic development. The findings reveal a robust correlation between Fintech-based financial inclusion and accelerated economic development within the G22 group of developing countries. The experiences of emerging economies will serve as valuable benchmarks for future research, providing indispensable insights for governmental bodies and policymakers in developing nations.
Keywords: Fintech – Financial Technology (FT); Financial Inclusion (FI); Economic Development (ED); Traditional Financial Inclusion (TFI); Fintech-based Financial Inclusion (FFI); Financial Econometrics (FE)

Information about study

Study programme: Finance and Accounting
Type of study programme: Magisterský studijní program
Assigned degree: Ing.
Institutions assigning academic degree: Vysoká škola ekonomická v Praze
Faculty: Faculty of Finance and Accounting
Department: Department of Monetary Theory and Policy

Information on submission and defense

Date of assignment: 16. 11. 2022
Date of submission: 14. 8. 2023
Date of defense: 8. 9. 2023
Identifier in the InSIS system: https://insis.vse.cz/zp/82802/podrobnosti

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