全球智库信息集成服务系统(G2TT): Does FinTech Substitute for Banks? Evidence from the Paycheck Protection Program

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w27659
来源ID	Working Paper 27659
	Does FinTech Substitute for Banks? Evidence from the Paycheck Protection Program
	Isil Erel; Jack Liebersohn
发表日期	2020-08-10
出版年	2020
语种	英语
摘要	New technology promises to expand the supply of ﬁnancial services to small businesses poorly served by the banking system. Does it succeed? We study the response of FinTech to ﬁnancial services demand created by the introduction of the Paycheck Protection Program (PPP). We ﬁnd that FinTech is disproportionately used in ZIP codes with fewer bank branches, lower incomes, and a larger minority share of the population, as well as in industries with little ex ante small-business lending. FinTech’s role in PPP provision is also greater in counties where the economic eﬀects of the COVID-19 pandemic were more severe. We estimate that more PPP provision by traditional banks causes statistically signiﬁcant but economically small substitution away from FinTechs, implying that FinTech mostly expands the overall supply of ﬁnancial services, rather than redistributing it.
主题	Financial Economics ; Financial Institutions ; Public Economics ; Taxation ; COVID-19
URL	https://www.nber.org/papers/w27659
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/585331
推荐引用方式 GB/T 7714	Isil Erel,Jack Liebersohn. Does FinTech Substitute for Banks? Evidence from the Paycheck Protection Program. 2020.

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
w27659.pdf（858KB）	智库出版物		限制开放	CC BY-NC-SA	浏览