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On Fintech and Financial Inclusion / Thomas Philippon.
- Format:
- Book
- Author/Creator:
- Philippon, Thomas.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w26330.
- NBER working paper series no. w26330
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- 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.
- Notes:
- Print version record
- September 2019.
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