Fintech as a Strategy of Financial Inclusion in the Age of Digitalization

• 영문명: Fintech as a Strategy of Financial Inclusion in the Age of Digitalization
• 발행기관: 한국APEC학회
• 저자명: Hyoeun Yang
• 간행물 정보: 『Journal of APEC Studies』Journal of APEC Studies Vol.11 No.2, 93~106쪽, 전체 14쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2019.12.30

영문 초록

Inclusive growth is at the top of international organizations’ agenda in recent years and the Asia-Pacific Economic Cooperation (APEC) is no exception. Since the 2008 global financial crisis revealed the intrinsic limitations of market-driven economic system despite its own merits incomparable to other alternatives, civil society and policymakers altogether have called for more shrewd policy actions that can achieve two critical public policy goals at once: promoting financial empowerment of the less privileged and enhancing competition in the financial market. While the emergence of fintech in financial markets in the past few years cannot be attributed to the competence of financial regulators and policymakers as to this call, what fintech has already achieved in terms of financial inclusion and competence of financial markets through disruption of traditional financial market structure demonstrate the importance of fintech as a strategy and policy tool of achieving the goal of inclusive growth. This strategy of achieving financial inclusion and financial market competition via fintech is more relevant to the APEC member countries because the region includes fast-growing fintech markets such as China, India, and Russia. Moreover, the growing significance of fintech services for SMEs (B2B) implies that fintech services have more relevance to the APEC economies as SMEs account for over 97% of enterprises and employ over half of the workforce in the region.

목차

Ⅰ. Introduction

Ⅱ. How Fintech Changed the Paradigm of Financial Services

Ⅲ. Can Fintech Facilitate Financial Inclusion?

Ⅳ. Fintech Ecosystem is Key to Success

V. Conclusion

키워드

APEC financial inclusion fintech fintech ecosystem inclusive growth SMEs