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The rise of digital finance: Financial inclusion or debt trap
2022
This study focuses on the impact of digital finance on households. While digital finance has brought financial inclusion, it has also increased the risk of households falling into a debt trap. We provide evidence that supports this notion and explain the channel through which digital finance increases the likelihood of financial distress. Our results show that the widespread use of digital finance increases credit market participation. The broadened access to credit markets increases household
doi:10.48550/arxiv.2201.09221
fatcat:e6fb3aeqhvaubd6jfvmnjcvdbq