The rise of fintech in the Philippines: A study on the impact of digital finance and demographics on financial inclusion and its effect on economic growth

• Main Authors: Bobier, Sofia Angeli M., Carbonilla, Gillian Clare O., Mallari, Alessandra Rayne L., Moleno, Erika Marie D.
• Format: text
• Language: English
• Published: Animo Repository 2022
• Subjects: Electronic funds transfers—Philippines; Internet banking—Philippines; Philippines—Economic conditions—1986-; Quality of life—Philippines; Social accounting—Philippines; Finance and Financial Management
• Online Access: https://animorepository.dlsu.edu.ph/etdb_finman/50; https://animorepository.dlsu.edu.ph/context/etdb_finman/article/1040/viewcontent/The_Rise_of_Fintech_in_the_Philippines__A_Study_on_the_Impact_of_Redacted2.pdf
• Institution: De La Salle University

The focus of this study is on two things: (1) to examine the impact of digital finance on financial inclusion in the Philippines, and (2) to explore the relationship between financial inclusion and economic growth of the Philippines. The data used in this study was obtained from the Global Findex Database published by the World Bank and Philippine Statistics Authority (PSA), specifically for the years 2014, 2017, and 2021. The design of the study is quantitative wherein the researchers formulated an index that will measure financial inclusion and utilized the probit model and the Arellano-Bover Generalized Method of Moment (GMM). Through this, the researchers were able to establish whether demographic characteristics can be utilized as predictors of financial inclusion and also see if there is a relationship between economic growth and financial inclusion.