Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/249602 
Year of Publication: 
2021
Series/Report no.: 
BOFIT Discussion Papers No. 13/2021
Publisher: 
Bank of Finland, Bank of Finland Institute for Emerging Economies (BOFIT), Helsinki
Abstract: 
We ask whether epidemic exposure leads to a shift in financial technology usage and who participates in this shift. We exploit a dataset combining Gallup World Polls and Global Findex surveys for some 250,000 individuals in 140 countries, merging them with information on the incidence of epidemics and local 3G internet infrastructure. Epidemic exposure is associated with an increase in remote-access (online/mobile) banking and substitution from bank branch-based to ATM activity. Heterogeneity in response centers on the age, income and employment of respondents. Young, high-income earners in full-time employment have the greatest tendency to shift to online/mobile transactions in response to epidemics. These effects are larger for individuals with better ex ante 3G signal coverage, highlighting the role of the digital divide in adaption to new technologies necessitated by adverse external shocks.
Subjects: 
epidemics
fintech
banking
JEL: 
G20
G59
I10
Persistent Identifier of the first edition: 
ISBN: 
978-952-323-387-4
Document Type: 
Working Paper

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