Arbeitspapier

The COVID-19 pandemic and Indonesia's fintech markets

This paper investigates the impacts of the COVID-19 pandemic and the large-scale social distancing (PSBB) policy on Indonesia's financial technology (fintech) markets. It also elaborates the roles that fintech companies can play in the national economic recovery. This paper finds that Indonesia's fintech markets were relatively resilient during the COVID-19 pandemic. The pandemic did not have significant impacts on Indonesia's fintech markets, but the PSBB harmed phone banking, mobile banking, and internet banking transaction values as well as peer-to-peer (P2P) fintech lending. Nevertheless, the PSBB increased electronic money transactions. The relatively short PSBB period prevented the restrictions on economic activities from imposing too much damage on the fintech markets. The Indonesian authorities involved the fintech industry as a component of the national economic recovery program (PEN), particularly the pre-employment card (Kartu Prakerja) program. There are still many areas in which the government can utilize the fintech industry for economic recovery, including direct cash transfers to poor households and extensions of subsidized loans for micro, small, and medium enterprises (MSMEs).

Language
Englisch

Bibliographic citation
Series: ADBI Working Paper ; No. 1281

Classification
Wirtschaft
Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
Financial Institutions and Services: Other
Technological Change: Choices and Consequences; Diffusion Processes
Technological Change: Other
Subject
fintech
Indonesia
micro
small
and medium-sized enterprises
MSMEs

Event
Geistige Schöpfung
(who)
Sugandi, Eric Alexander
Event
Veröffentlichung
(who)
Asian Development Bank Institute (ADBI)
(where)
Tokyo
(when)
2021

Handle
Last update
10.03.2025, 11:43 AM CET

Data provider

This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.

Object type

  • Arbeitspapier

Associated

  • Sugandi, Eric Alexander
  • Asian Development Bank Institute (ADBI)

Time of origin

  • 2021

Other Objects (12)