Fintech is being adopted across markets worldwide - but not evenly. Why not? This paper reviews the evidence. In some economies, especially in the developing world, adoption is being driven by an unmet demand for financial services. Fintech promises to deliver greater financial inclusion. In...

FinTech is being adopted across markets worldwide – but not evenly. Why not? This paper reviews the evidence. In some economies, especially in the developing world, adoption is being driven by an unmet demand for financial services. FinTech promises to deliver greater financial inclusion. In...

There has been a longstanding concern about protecting intellectual capital. The legislation awards a generator of the capital with a finite period of a monopoly right to access it.Under the protection, a right holder may exclusively exploit its intellectual capital and assign or license the...

I study financial product innovation in a model with two classes of agents: “sophisticated” and “unsophisticated.” Unsophisticated agents are hit with frictions that lower the return to a conventional asset they hold. Sophisticated agents construct financial innovations that are perfect...

Firms in the financial services industry have been faced with the dramatic and relatively recent emergence of new technology innovations, and process disruptions. The industry as a whole, and many new fintech start-ups are looking for new pathways to successful business models, the creation of...

This paper provides a basic understanding of the nature of emerging key information and communication technologies, and establishes the distance of countries from high-quality access to the internet - the necessary threshold one needs to cross in order to make use of such technologies. The paper...

Using the financial and macroeconomic dataset of 132 countries, this study empirically analyzes the effects of financial regulations and innovations on the global financial crisis. It shows that regulatory measures such as restrictions on bank activities and entry requirements have decreased the...