АУТОР / AUTHOR(S): Darko Vuković
DOI: 10.46793/CSGE5.41DV
САЖЕТАК / ABSTRACT:
This study investigates the implications of financial inclusion and the stability within BRICS economies, contextualizing the findings within regional and global political dynamics. Initially, the study aims to uncover the relationship between fintech advancement and inclusion in these markets, considering the geopolitical and socio-economic factors that drive these developments. By introducing a positive fintech shock, the study reveals a dynamic relationship between fintech development and inclusion, which varies across the BRICS countries based on their unique political and economic contexts. This relationship demonstrates a long-term influence on financial inclusion in some BRICS countries more than others, highlighting the role of national policies and international relations in shaping these outcomes. The study extends to the concept of an expanded BRICS, incorporating other emerging economies that are increasingly relevant on the global stage. Such kind of inclusion is crucial for these regions as it fosters economic development, reduces poverty, and promotes social stability, which are essential for maintaining political stability and strengthening international alliances. In examining regional issues, the study considers how diverse geographical features, such as regional economic integration, impact fintech adoption and its subsequent effects on financial inclusion. This factor is vital in understanding the uneven distribution of fintech benefits and the challenges faced by different regions within BRICS economies. However, the study does not find significant evidence suggesting that fintech poses a threat to stability, at least in the short term. This study contributes to the discourse on the intersection of technology, finance, and global politics, offering insights for policymakers and international stakeholders on the potential and challenges of fintech in emerging economies. It underscores the importance of collaborative efforts among BRICS nations to harness fintech for inclusive growth and stability, thereby reinforcing their position in global economic and political spheres.
КЉУЧНЕ РЕЧИ / KEYWORDS:
emerging economies; political and economic stability; fintech; BRICS