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Philippon, Thomas - 2016

This paper assesses the potential impact of FinTech on the finance industry, focusing on financial stability and access to services. I document first that financial services remain surprisingly expensive, which explains the emergence of new entrants. I then argue that the current regulatory...

Persistent link: https://www.econbiz.de/10012985592

On Fintech and Financial Inclusion

Philippon, Thomas - 2020

The cost of financial intermediation has declined in recent years thanks to technological progress and increased competition. I document this fact and I analyze two features of new financial technologies that have stirred controversy: returns to scale, and the use of big data and machine...

Persistent link: https://www.econbiz.de/10012831538

Fintech Adoption Across Generations : Financial Fitness in the Information Age

Carlin, Bruce I. - 2017

This paper analyzes how better access to financial information via new technology changes use of consumer credit and affects financial fitness. We exploit the introduction of a smartphone application for personal financial management as a source of exogenous variation. FinTech adoption reduces...

Persistent link: https://www.econbiz.de/10012948059

Fintech Adoption and Household Risk-Taking

Hong, Claire Yurong; Lu, Xiaomeng; Pan, Jun - 2022

Using a unique FinTech data containing monthly individual-level consumption, investments, and payments, we examine how FinTech can lower investment barriers and improve risk-taking. Seizing on the rapid expansion of offline usages of Alipay in China, we measure individuals’ FinTech adoption by...

Persistent link: https://www.econbiz.de/10013492181

Scale Economies, Returns to Variety, and the Productivity of Public Infrastructure

Holtz-Eakin, Douglas; Lovely, Mary E. - 2021

We examine the productivity of public infrastructure in a general equilibrium context. In our model, infrastructure … to variety. Infrastructure alters factor prices, intermediate prices and the allocation of factors across sectors. The …

Persistent link: https://www.econbiz.de/10013222910

Infrastructure and Public R&D Investments, and the Growth of Factor Productivity in Us Manufacturing Industries

Nadiri, M. Ishaq; Mamuneas, Theofanis P. - 2021

In this paper we examine the effects of publicly financed infrastructure and R&D capital on the cost structure and … dominate while in others changes in technology or relative prices are the main contributors. Publicly financed infrastructure …

Persistent link: https://www.econbiz.de/10013236700

State Infrastructure and Productive Performance

Morrison Paul, Catherine J.; Schwartz, Amy Ellen - 2021

The impact of public infrastructure investment on the productive performance of firms has been an important focus of …. However, detailed evaluation of the infrastructure impact is difficult using existing studies which rely on restricted models …, nonproduction and production labor and energy) use of manufacturing firms to evaluate the contribution of infrastructure to firms …

Persistent link: https://www.econbiz.de/10013227211

Has the U.S. Finance Industry Become Less Efficient? on the Theory and Measurement of Financial Intermediation

Philippon, Thomas - 2014

I provide a quantitative interpretation of financial intermediation in the U.S. over the past 130 years. Measuring separately the cost of intermediation and the production of financial services, I find that: (i) the quantity of intermediation varies a lot over time; (ii) intermediation is...

Persistent link: https://www.econbiz.de/10013066115

Risk Bearing, Implicit Financial Services and Specialization in the Financial Industry

Wang, J. Christina - 2009

This paper makes three points regarding the proper measurement of the output of financial intermediaries. Two of them concern the measurement of nominal financial output, especially banking output. First, we show that, to impute the nominal value of implicitly priced financial output, it is...

Persistent link: https://www.econbiz.de/10012764900

Fintech in Sub-Saharan Africa : What Has Worked Well, and What Hasn't

Yermack, David - 2018

entrepreneurship in the developing world. The electrical, telecom, and Internet infrastructure required for FinTech has been built out …

Persistent link: https://www.econbiz.de/10012911469

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