Summary
Financial institutions are facing unprecedented challenges brought on by the coronavirus Pandemic, less than a decade after recovering from the Global Financial Crisis and the Eurozone debt crisis. The causes of these challenges differ greatly from the previous crises that financial institutions, to a large extent, had contributed to. The current challenges were exogenous and unpredictable, and their consequences will reshape the financial system architecture around the world.
Fintech, once dismissed as no more than a novel approach to servicing the segment of the population often overlooked by established financial intermediaries, is now challenging the traditional models of commercial and investment banking. The inevitable future introduction of digital currencies that could replace national currencies in many business transactions has the potential to fundamentally change the business models of financial institutions and how the financial system functions. Volume 22, Fintech, Pandemic, and the Financial System, examines systemic challenges faced by a wide range of financial market participants and the continued disruptions introduced by financial innovations (Fintech).
International Finance Review publishes theme-oriented volumes on various issues in international finance, such as international business finance, international investment and capital markets, global risk management, international corporate governance and institution, currency markets, emerging market finance, international economic integration, and related issues.
Table of contents
Part I: An Overview
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Chapter 1. An overview of fintech, pandemic and the financial system: Challenges and opportunities; Suk-Joong Kim
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Part II: Fintech and Pandemic
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Chapter 2. Banks’ patenting as an answer to emerging fintech and bigtech competition: A cross-country empirical study; Oskar Kowalewski and PaweÅ‚ Pisany
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Chapter 3. Digital financial inclusion: its role in mitigating GDP losses during the pandemic; Chen Zheng and Zhiyue Sun
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Chapter 4. The role fintech in the PPP Program; Blake Rayfield, Hasib Ahmed, Nicolas Duvernois, and Lois Rayfield
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Chapter 5. Gender gap in consumer loan performance: Evidence from fintech lending in an emerging economy; Tanseli Savaser, Murat Tiniç, Gunseli Tumer-Alkan, and Hakki Deniz Karaman
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Part III: Cryptocurrency and the Financial System
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Chapter 6. Cryptocurrencies meet equities: Risk factors and asset pricing relationships; Victoria Dobrynskaya and Mikhail Dubrovskiy
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Chapter 7. Got crypto? Evidence from Markowitz, Kataoka, and conditional Value-at-Risk models; Lanqing Du, Jinwook Lee, Namjong Kim, Paul Moon Sub Choi, and Matthew J. Schneider
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Chapter 8. International financial regulation of cryptoassets and Asset-Backed Tokens; Sylvia Gottschalk
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Part IV: Central Bank Digital Currency
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Chapter 9. Central bank digital currencies: The motivation; Bert Van Roosebeke and Ryan Defina
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Chapter 10. A review of the proposed Bank of England’s ‘Retail’ central bank digital currency as a cryptocurrency competitor; Kelly-Ann Coulter
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Chapter 11. The digital euro from a geopolitical perspective: Will Europe lag behind?; Philipp Sandner and Jonas Gross
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Part V: Economy and the Financial System
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Chapter 12. The journey of an exchange traded fund: Becoming a unicorn or zombie; Fei Gao and Bingqiao Li
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Chapter 13. Does finance benefit society? Financial sector size and labour market performance; Marc Steffen Rapp and Iuliia Udoieva
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Chapter 14. On the effectiveness of capital controls: A synthetic control method approach; Meng-Ting Chen and Richard J Nugent III
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Chapter 15. Determinants in the development of financial centers: Evolution around the world; Giang Phung, Ha Truong, and Hai Hong Trinh
About the authors
Suk-Joong Kim is Professor of International Finance and Banking at the Discipline of Finance, The University of Sydney Business School, The University of Sydney, NSW, Australia.
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