Uncover the mystery of China’s success in FinTech: A perspective from political connections

时间：2022年10月7日10：30-12：00

地点：承泽园402教室

主讲人：佘可欣

摘要：This study aims to uncover the driving forces underlying the rapid development of FinTech in China. Exploiting the enactment of FinTech-related national policies in 2015 as a plausibly exogenous shock, we find that politically connected banks engage in FinTech adoption in a more active manner than non-connected counterparts after 2015, manifested as more mentions of FinTech-related activities in their annual reports and more applications of FinTech-related patents. The positive role of political connections in improving FinTech adoption is driven primarily by banks headquartered in cities with no mayor or municipal party secretary investigated during the anti-corruption campaign. In addition, political connections appear to have heterogeneous effects on FinTech adoption among state banks and non-state banks. Last, we examine the economic consequences of FinTech adoption and find that FinTech adoption lowers the likelihood of a bank receiving administrative punishments and lowers banks’ expenses on employees, especially for politically connected banks.

主讲人简介：佘可欣，北京大学国家发展研究院20级直博生。