IDEAS home Printed from https://ideas.repec.org/a/pkp/teafle/v12y2025i1p50-60id4093.html
   My bibliography  Save this article

Financial technology: The catalyst for BRICS' economic and financial leap

Author

Listed:
  • Dhaya M
  • Sundaram N

Abstract

This research attempts to ascertain how fintech contributes to the financial development and economic expansion of the BRICS nations. Samples were gathered between 2002 and 2021 using panel data analysis with fixed effects as the research approach. OLS regression was used for analysis. Variables are collected from World Development Indicators and data analysis is done using Gretl software. Three hypotheses are put out in the study and are validated based on the data collected. As per the first hypothesis, fintech is having a beneficial impact on the GDP which is used as a gauge for the nation's economic growth. A second hypothesis posits that fintech impacts the overall money supply which serves as a gauge for financial progress. The third hypothesis states that fintech impacts bank deposits relative to GDP; the second metric chosen to measure financial development is not favorable according to the results. The impact of fintech on financial development and economic growth shows positive impacts. Fintech can enhance the overall economic growth of emerging economies. Maximum utilization of upcoming technology can result in financial development. Emerging economies can benefit from the use of financial technologies to further their financial and economic development. The analysis highlights how crucial technology is to the financial industry.

Suggested Citation

  • Dhaya M & Sundaram N, 2025. "Financial technology: The catalyst for BRICS' economic and financial leap," The Economics and Finance Letters, Conscientia Beam, vol. 12(1), pages 50-60.
    • Handle: RePEc:pkp:teafle:v:12:y:2025:i:1:p:50-60:id:4093
    as

    Download full text from publisher

    File URL: https://archive.conscientiabeam.com/index.php/29/article/view/4093/8456
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pkp:teafle:v:12:y:2025:i:1:p:50-60:id:4093. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dim Michael (email available below). General contact details of provider: https://archive.conscientiabeam.com/index.php/29/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.