Digital Finance And Inclusion In The Time Of Covid 19
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Digital Finance And Inclusion In The Time Of Covid 19
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Author : Benni, N.
language : en
Publisher: Food & Agriculture Org.
Release Date : 2021-01-04
Digital Finance And Inclusion In The Time Of Covid 19 written by Benni, N. and has been published by Food & Agriculture Org. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-04 with Technology & Engineering categories.
The COVID-19 pandemic has impacted digital financial inclusion trends across the world in many and complex ways. In developing and emerging contexts, this crisis also holds the potential to propel an unprecedented acceleration in the process of financial digitization and turn out to be a game-changer for digital financial inclusion. The aim of this study is to illustrate the opportunities and risks associated with the surge in uptake and use of digital financial service, providing ideas on how to leverage the paradigm changes affecting the overall approach and perspective towards digital financial services – on the part of various stakeholders – to advance financial inclusion and development. It also seeks to showcase how digital financial services have been used – in both traditional and innovative ways – to mitigate the impact of the COVID-19 crisis on economies and societies, by both public and private actors.
The Promise Of Fintech
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Author : Ms.Ratna Sahay
language : en
Publisher: International Monetary Fund
Release Date : 2020-07-01
The Promise Of Fintech written by Ms.Ratna Sahay and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-01 with Business & Economics categories.
Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.
Digital Banking Support To Small Businesses Amid Covid 19
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Author : Tao Sun
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-29
Digital Banking Support To Small Businesses Amid Covid 19 written by Tao Sun and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-29 with Business & Economics categories.
This note analyzes the economic impact of digital lending to micro and small sized enterprises (MSEs) in China during the coronavirus disease (COVID-19) pandemic. A preliminary analysis of a large pool of MSEs served by a digital bank indicates that digital banks were able to remotely evaluate borrowers and sustain lending during the pandemic, thereby facilitating the business continuity, sales growth, and financial inclusiveness of MSEs. In the global context, a policy framework—leveraging the advantages of digital banks and empowering digital banks, while guarding against possible financial stability risks—would further support small businesses during and after the COVID-19 pandemic.
The Global Findex Database 2017
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Author : Asli Demirguc-Kunt
language : en
Publisher: World Bank Publications
Release Date : 2018-04-19
The Global Findex Database 2017 written by Asli Demirguc-Kunt and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-19 with Business & Economics categories.
In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Is Digital Financial Inclusion Unlocking Growth
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Author : Purva Khera
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-11
Is Digital Financial Inclusion Unlocking Growth written by Purva Khera and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-11 with Business & Economics categories.
Digital financial services have been a key driver of financial inclusion in recent years. While there is evidence that financial inclusion through traditional services has a positive impact on economic growth, do the same results carry over for digital financial inclusion? What drives digital financial inclusion? Why does it advance more in some countries but not in others? Using new indices of financial inclusion developed in Khera et. al. (2021), this paper addresses these questions for 52 developing countries. Using cross-sectional instrument variable procedure, we find that the exogenous component of digital financial inclusion is positively associated with growth in GDP per capita during 2011-2018, which suggests that digital financial inclusion can accelerate economic growth. Fractional logit and random effects empirical estimation identifies access to infrastructure, financial and digital literacy, and quality of institutions as key drivers of digital financial inclusion. These findings are then used to help inform policy recommendations in areas related to the digitization of financial services to promote financial inclusion.
Reimagining Innovation Systems In The Covid And Post Covid World
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Author : Lakhwinder Singh
language : en
Publisher: Taylor & Francis
Release Date : 2023-12-01
Reimagining Innovation Systems In The Covid And Post Covid World written by Lakhwinder Singh and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-01 with Business & Economics categories.
Countries around the world are working to counter the devastating effects of the COVID-19 pandemic on their healthcare systems, economies, and industries. This book brings together strategies for the adoption of new technologies and innovation systems which would help re-invigorate social and economic institutions and help communities, especially in the Global South. The book focuses on innovation systems that address health and socioeconomic inequalities in countries such as India, Africa, Brazil, Costa Rica, and others. It looks into the responses of different countries to the shocks inflicted on the economy and health systems by the pandemic from the perspective of government institutions as well as businesses, industries, and communities. The pandemic forced many organizations to embrace various innovative strategies to contain the spread of COVID-19 and ameliorate the lives of people including employees, people from marginalized communities, and low-income groups who have suffered due to the disease. The chapters in this book study innovative interventions and community-based measures which reached many people and paved the way for policies which helped rebuild communities sustainably. The volume also analyses how these newly created and streamlined health and economic innovation systems will be carried forward in the post-COVID-19 world to address weaknesses in health and governance and address inequalities, especially for countries in the Global South. This book will be of interest to scholars and students of economics, political economy, health and economics, development studies, public policy, and sociology.
Green Digital Finance And Sustainable Development Goals
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Author : Farhad Taghizadeh-Hesary
language : en
Publisher: Springer Nature
Release Date : 2022-07-01
Green Digital Finance And Sustainable Development Goals written by Farhad Taghizadeh-Hesary and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-01 with Business & Economics categories.
This book aims to fill the literature gap on digital instruments and FinTech in enhancing green finance. Technological innovation can increase transparency, accountability, and speed, decentralize the financial system, improve risk management, increase competition, lower costs, improve efficiency, increase cross-sectoral collaboration and integration, and scale up green finance. Artificial intelligence (AI), distributed ledger technologies (DLT) or blockchain, peer-to-peer lending platforms, big data, Internet-based and mobile-based payment platforms, Internet of Things (IoT), matchmaking platforms including crowdlending, tokenizing green assets are potential means to scale up the green finance for achieving the SDGs. The COVID-19 pandemic, the economic downturns, and the uncertainties shrank the new investments in renewable energy projects globally. Low investment in renewable energy projects could threaten the expansion of green energy needed to provide energy security and meet SDG7 and SDG13. Investments in renewable energy projects are scarce because of several risks and a low rate of return. Although several new green financing solutions such as green bonds, green banks, green credit guarantee, carbon taxation, carbon trade, village funds, and community trust funds have been established in different countries, these are insufficient, and alternative ways to finance projects are required. The book provides several high-quality studies on utilizing digitalization, FinTech, financial innovations, and other new technologies to fill the finance gap of green projects to meet the SDG goals. The chapters are written by scholars in diverse countries and regions and include practical policy recommendations.
Fintech Development For Financial Inclusiveness
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Author : Anshari, Muhammad
language : en
Publisher: IGI Global
Release Date : 2021-11-26
Fintech Development For Financial Inclusiveness written by Anshari, Muhammad and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-26 with Business & Economics categories.
Financial technology (FinTech) and its related products are considered a major disruptive innovation in financial services, substantially elevating financial solutions and new business models. Resulting from the fusion of finance and smart mobile technology, this innovative technology requires additional investigation into its adoption, challenges, opportunities, and future directions so that we may understand and develop the technology to its full potential. FinTech Development for Financial Inclusiveness moves beyond the theoretical areas of FinTech to comprehensively explore the recent FinTech initiative scenarios with respect to processes, strategies, challenges, lessons learned, and outcomes within economic development as well as trade and investment. Covering a range of topics such as decentralized finance and global electronic commerce, it is ideal for industry professionals, business owners, consultants, practitioners, instructors, researchers, academicians, and students.
Banking The World
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Author : Robert Cull
language : en
Publisher: MIT Press
Release Date : 2021-08-03
Banking The World written by Robert Cull and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-03 with Business & Economics categories.
Experts report on the latest research on extending access to financial services to the 2.5 billion adults around the world who lack it. About 2.5 billion adults, just over half the world's adult population, lack bank accounts. If we are to realize the goal of extending banking and other financial services to this vast “unbanked” population, we need to consider not only such product innovations as microfinance and mobile banking but also issues of data accuracy, impact assessment, risk mitigation, technology adaptation, financial literacy, and local context. In Banking the World, experts take up these topics, reporting on new research that will guide both policy makers and scholars in a broader push to extend financial markets. The contributors consider such topics as the complexity of surveying people about their use of financial services; evidence of the impact of financial services on income; the occasional negative effects of financial services on poor households, including disincentives to work and overindebtedness; and tools for improving access such as nontraditional credit scores, financial incentives for banking, and identification technologies that can dramatically reduce loan default rates.
Powering The Digital Economy Opportunities And Risks Of Artificial Intelligence In Finance
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Author : El Bachir Boukherouaa
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-22
Powering The Digital Economy Opportunities And Risks Of Artificial Intelligence In Finance written by El Bachir Boukherouaa and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-22 with Business & Economics categories.
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.