| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26330 |
| 来源ID | Working Paper 26330 |
| On Fintech and Financial Inclusion | |
| Thomas Philippon | |
| 发表日期 | 2019-09-30 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | The cost of financial intermediation has declined in recent years thanks to technological progress and increased competition. I document this fact and I analyze two features of new financial technologies that have stirred controversy: returns to scale, and the use of big data and machine learning. I argue that the nature of fixed versus variable costs in robo-advising is likely to democratize access to financial services. Big data is likely to reduce the impact of negative prejudice in the credit market but it could reduce the effectiveness of existing policies aimed at protecting minorities. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Industrial Organization ; Market Structure and Firm Performance ; History ; Financial History |
| URL | https://www.nber.org/papers/w26330 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584002 |
| 推荐引用方式 GB/T 7714 | Thomas Philippon. On Fintech and Financial Inclusion. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26330.pdf（285KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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