How does the development of fintech affect financial efficiency? Evidence from China
Bibliographic Data
| ID | 15068346 |
|---|---|
| Authors | Yi Hua Wu (0000-0003-1270-2950, School of Business Administration, Northeastern University, Shenyang, China), Yi Hu Wu (Northeastern University, corresponding author), Liang Bai (0000-0002-7699-2179, Zero One Finance and Economics Think Tank, Beijing, China), Xiao Hui Chen (0000-0002-5016-6741, Yibin University), Xiaohui Chen (0009-0001-7005-7542, Yibin University) |
| Year | 2023 |
| Volume | 36 |
| Issue | 2 |
| Publication date | 2023-07-10 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2022.2106278 |
| OpenAlex | W4289946360 |
| Language | EN |
| Citations received | 2 |
| References cited | 8 |
The rapid development of fintech is transforming the global financial system. However, how does fintech impact financial efficiency? Based on the technology spillover theory, this study analysed the theoretical mechanism of fintech’s impact on financial efficiency and used the text mining method to construct a fintech level index for each province in China. Using interprovincial panel data from 2008 to 2018, the study empirically tested the relationship between fintech development and financial efficiency. The results show that technology spillover theory can adequately explain the impact of financial technology on financial efficiency and that there is a U-shaped nonlinear relationship between fintech development and financial efficiency. Further analysis shows that financial decentralisation moderates the marginal effect of fintech on financial efficiency. The effect of fintech on financial efficiency is more significant in regions with greater financial decentralisation. Therefore, at this stage, the study recommends that we actively embrace fintech, continuously deepen the integration of technology and finance, promote improvement in financial efficiency, and expand the positive role of local governments in technological innovation
Business · China · Decentralization · Econometrics · Economics · Financial market · Financial market efficiency · Financial services · Financial system · Fintech · Macroeconomics · Market economy · Panel data · Political science · Spillover effect · Blockchain Technology Applications and Security · FinTech, Crowdfunding, Digital Finance · Microfinance and Financial Inclusion · Finance
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,67 |
| Citation span | 2023 - 2024 (2) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 1 |