Keywords
investments
digitization gross domestic product
product joint integration
How to Cite
Abstract
This study aims to measure the impact of financial technology investments on economic growth around the world during the period (2014-2023). The error correction model ECM was used, and the results of the estimates showed that there is no causal relationship between the two variables in the short term; and after testing After valuation of transactions, it turned out that the error correction coefficient CointEq is negative and significant; this explains the existence of a long-term equilibrium relationship between the study variables, and from the test of the analysis of the statement, The shocks that reflect any change in the level of GDP variable by explaining the variance that the occurrence of any single structural shock in financial technology investments by 1% has a positive impact on GDP, and after analyzing the response functions to random shocks, it was found that the degree of response of both variables has been achieved since the first period.
References
Aleksey, P., Yuner, K. (2015). Economic Growth: Types and Factors. International Conference on Eurasian Economies. Russia. Access on the internet: https://www.avekon.org/papers/1404.pdf.
Al-Sharafi, M.A. et al. (2023). The Influence of FinTech on Financial Sector and Economic Growth: An Analysis of Recent Literatur, (Eds.): ICETIS 2022, LNNS 584. DOI: 10.1007/978-3-031-25274-7_21.
Anabela S.S.Q., Aurora A.C.T. (2014). Economic Growth, Human Capital and Structural Change: An Empirical Analysis. FEP-UP. “School of Economics and Management”. Access on the internet: https://ideas.repec.org/p/por/fepwps/549.html.
Chatchai Khiewngamdee, D.H.-D. (2019). The Role of Fintech E-Payment on APEC Economic. Dans J.O. Series (Éd.), The Second International Conference on Physics, Mathematics and Statistics. Access on the internet: https://wps.fep.up.pt/wps/wp549.pdf.
Erik, F., Harish, N., Matthew, S. (2023). Fintech and the Future of Finance Market and Policy Implications. Washington: The World Bank Group. Access on the internet: https://documents1.worldbank.org/curated/en/099450005162250110/pdf/P17300600228b70070914b0b5edf26e2f9f.pdf.
Guangyou, Z., Jieyu, Z., Sumei, L. (2021). The Impact of Fintech Innovation on Green Growth in China: Mediating Effect of Green Finance. “Ecological Economics”. Access on the internet: DOI: 10.1016/j.ecolecon.2021.107308.
Investopedia (2021). [Access: 7.10.2023]. Access on the internet: https://www.investopedia.com/terms/e/economicgrowthrate.asp.
Jamie, E., Steve, B. (2021). Fintech: A Guide to Financial Technology. The House of Commons Library. Access on the internet: https://researchbriefings.files.parliament.uk/documents/CBP-9150/CBP-9150.pdf.
Joseph, A. Jr, Behrooz, A., Hiroshi, I. (2023). Does Fintech Penetration Drive Financial Development? Evidence From Panel Analysis of Emerging and Developing Economies. “Borsa Istanbul Review”. DOI: 10.1016/j.bir.2023.06.001.
Kelvin, L., Anna, S. (2018). Fintech (Financial Technology): What Is it and How to Use Technologies to Create Business Value in Fintech Way? “International Journal of Innovation, Management and Technology”. Access on the internet: https://www.ijimt.org/vol9/791-M775.pdf.
Minahil, A., Ayesha, A., Saba, F., Amir, H. (2023). Is Fintech the New Path to Sustainable Resource Utilisation and Economic Development? “Resources Policy”. DOI: 10.1016/j.resourpol.2023.103309.
Mladen M.I. (2015). Economic Growth and Development. “Journal of Process Management – New Technologies, International”. Access on the internet: https://drive.google.com/file/d/1-tn17-06Yyxdt2U3usfti0NZZ75QEPGY/view.
Nawazish, M., Mohamed, E., Muhammad, U., Noura, M. (2023). Safeguarding Fintech Innovations with Machine Learning: Comparative Assessment of Various Approaches. “Research in International Business and Finance”. DOI: 10.1016/j.ribaf.2023.10200
Thomas, N.M. (2023). Modeling key enablers influencing FinTechs offering SME credit services: A multi-stakeholder perspective. “Electron Markets”, 33, 18. DOI: 10.1007/s12525-023-00627-6.
Werth, O., Cardona, D.R., Torno, A. et al. (2023). What determines FinTech success? – A taxonomy-based analysis of FinTech success factors. “Electron Markets”, 33, 21. DOI: 10.1007/s12525-023-00626-7
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Copyright (c) 2024 Modern Management Review