Titelaufnahme

Titel
Financial technologies and the effectiveness of monetary policy transmission / Iftekhar Hasan, Boreum Kwak, Xiang Li
VerfasserHasan, Iftekhar ; Kwak, Boreum ; Li, Xiang
KörperschaftLeibniz-Institut für Wirtschaftsforschung Halle
ErschienenHalle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, [2022?]
Ausgabe
This version: June 15, 2022
Umfang1 Online-Ressource (III, 39, A8 Seiten, 2,97 MB) : Diagramme
SpracheEnglisch
SerieIWH-Diskussionspapiere ; 2020, no. 26 (December 2020) [rev.]
URNurn:nbn:de:gbv:3:2-882592 
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This study investigates whether and how financial technologies (FinTech) influence the effectiveness of monetary policy transmission. We use an interacted panel vector autoregression model to explore how the effects of monetary policy shocks change with regional-level FinTech adoption. Results indicate that FinTech adoption generally mitigates monetary policy transmission to real GDP consumer prices bank loans and housing prices with the weakened transmission to bank loan growth being the most pronounced. The regulatory arbitrage and competition between FinTech and banks are the possible mechanisms underlying the mitigated transmission.