New CEPR eBook - Fostering FinTech for Financial Transformation: The case of South Korea
A new CEPR/KIF eBook takes stock of the rapid evolution of financial digitalisation over the past decade and provides an overview of where research and policy discussion currently stands, analyses the pattern and progress of financial digitalisation across the globe and across a number of different dimensions, and draws conclusions for regulatory policies.
Edited by Thorsten Beck and Yung Chul Park, with contributions from leading economists working in the field of financial digitalisation, this eBook considers the impact of financial digitalisation on the efficiency and stability of the financial system, focusing on innovations in money and payments, specifically the combination of new forms of digital assets with new forms of payment technology, and describing the regulation of cryptocurrencies across different jurisdictions.
The authors apply these lessons to the specific case of Korea, documenting the oligopolistic structure of Korean banking and the limited innovation that has taken place within the sector. It traces the development of the FinTech sector over the past decade and the regulatory challenges that this has posed.
You can also read a VoxEU column here.