Financial inclusion is strikingly low in emerging economies. In only a few years, financial technologies (fintech) have …-market implications of this rapid growth of fintech are not known. We build a model with a traditional banking system and endogenous … fintech intermediary creation and find that greater fintech entry delivers positive long-term effects on aggregate output and …

countries with more stringent de jure regulation tend to enforce less. While civil law countries tend to have more stringent de … stringent de jure labor regulations, lower overall labor inspection, and larger differences in effective regulation of bigger …