Fintech contribution to Indonesia's economic growth

Nasihin Aziz, Athoillah (2019): Fintech contribution to Indonesia's economic growth.

Abstract

Fintech investment increased substantially in 2018 with total global investment dollars in all M&A, PE, and VC more than doubling from $ 50.8 billion in 2017 to $ 111.8 billion in 2018. In Indonesia, the financial technology industry ( fintech) is growing The rapid growth of both fintech payments and loans, this is reflected in the distribution of fintech loans which penetrated Rp33.2 trillion in May 2019, while fintech payment transactions reached Rp47.1 trillion in 2018. Indonesian fintech players are still dominant in the payment business ( 43%), loans (17%), and the remainder in the form of aggregators, crowdfunding and others. The development of fintech has increased Indonesia's GDP by Rp25.97 trillion.

• Item Type: MPRA Paper
• Language: English
• Keywords: Digital economy, financial technology (fintech), economic growth
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O10 - General; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development

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