Fintech credit, big tech credit and income inequality
Finance Research Letters, Volume 51, January 2023, 103387
Received 29 August 2022, Revised 26 September 2022, Accepted 29 September 2022, Available online 2 October 2022, Version of Record 14 October 2022.
Abstract
The rise of alternative credit lines, powered by the digital revolution, comes with a promise of additional funding to the economy. In the paper, I explore whether the growth of fintech and big tech credit can be associated with changes in income inequality. For this purpose, I utilize a rich panel of 78 countries over the 2013–2019 period. I find that rise of fintech and big tech credit is indeed associated with a reduction in income inequality. However, this somewhat wanting result emerges only in countries with an already high level of financial inclusion.
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