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Can fintech credit fill the credit gap in the consumer and business segments? There are few cross-country studies that explore this question. Focusing on marketplace lending, an important part of fintech credit, we use data for 109 countries from 2015 to 2017 to study the relationship between fintech credit to businesses and consumers and various aspects of financial development. Marketplace lending to consumers grows in countries where financial depth declines highlighting the role of fintech credit in filling the credit gap by traditional lenders. This result is particularly strong in low-income countries. In the business segment, marketplace lending expands where financial efficiency declines. Our findings show that low-income countries take advantage of the fintech credit opportunity in the consumer segment but face important challenges in the business segment.

Banks and Banking --- Finance: General --- Money and Monetary Policy --- Industries: Financial Services --- Single Equation Models --- Single Variables: Cross-Sectional Models --- Spatial Models --- Treatment Effect Models --- Single Variables: Discrete Regression and Qualitative Choice Models --- Money Supply --- Credit --- Money Multipliers --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Financial Markets and the Macroeconomy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Computer applications in industry & technology --- Monetary economics --- Finance --- Banking --- Fintech --- Financial sector development --- Peer-to-peer lending --- Money --- Technology --- Financial markets --- Financial inclusion --- Financial services industry --- Technological innovations --- Banks and banking --- United States

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This paper estimates medium-term potential growth for a country undergoing significant structural and secular changes. Our forward-looking framework, incorporating three analytical approaches for examining economic prospects, constitutes an important complement to typical backward-looking methods that filter or extrapolate historical data. In particular, the opening of the expanded Panama Canal in 2016 highlights significant structural changes underway in the Panamanian economy. We first analyze growth determinants and find that Panama is well-placed to maintain its business model, with improvements in education and governance important to support growth. Second, the current pipeline of investment projects can help sustain investment-led growth, although at a more moderate pace. Third, further development of the logistics and tourism sectors holds promise to further build on Panama’s comparative advantage.

Infrastructure --- Investments: General --- Public Finance --- Industries: Hospital,Travel and Tourism --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Economywide Country Studies: Latin America --- Caribbean --- Sports --- Gambling --- Restaurants --- Recreation --- Tourism --- Investment --- Capital --- Intangible Capital --- Capacity --- Industry Studies: Transportation and Utilities: General --- Hospitality, leisure & tourism industries --- Macroeconomics --- Public finance & taxation --- Transportation --- Public investment and public-private partnerships (PPP) --- Private investment --- Economic sectors --- National accounts --- Expenditure --- Saving and investment --- Public-private sector cooperation --- Panama

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Economic development --- Fiscal policy --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Development, Economic --- Economic growth --- Growth, Economic --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Government policy --- Central America. --- Dominican Republic. --- Panama. --- Audiencia de Panam --- Audiencia de Panamá del Nuevo Reino de Tierra Firme --- Estado Federal de Panam --- Panama --- Real Audiencia de Panam --- Republic of Panama --- República de Panam --- Tierra Firme --- Dominika Kyōwakoku --- Dominikaaninen tasavalta --- Dominikanische Republik --- Dominikanska republiken --- Quisqueya --- República Dominicana --- Republiḳah ha-Dominiḳanit --- République dominicaine --- San Domingo --- Santo Domingo --- Mercado Común Centroamericano countries

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This paper assesses the determinants of NPLs in the Eastern Caribbean Currency Union (ECCU) and whether a deterioration in asset quality may result in negative feedback effects from the banking system to economic activity. The results suggest that the deterioration in asset quality can be attributed to both macroeconomic and bank-specific factors. Banks with stronger profitability and lower exposure to the construction sector and household loans tend to have lower NPLs. Further, some evidence indicates that foreign owned banks systematically have lower NPLs than domestic banks, pointing to the presence of important differences across bank practices with an impact on asset quality. Finally, the results emphasize the strength of macrofinancial feedback loops in the ECCU.

Caribbean Area --- Economic conditions. --- Banks and Banking --- Money and Monetary Policy --- Industries: Financial Services --- Business Fluctuations --- Cycles --- Financial Markets and the Macroeconomy --- Money Supply --- Credit --- Money Multipliers --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Finance --- Banking --- Monetary economics --- Nonperforming loans --- Foreign banks --- Loans --- Financial institutions --- Money --- Commercial banks --- Banks and banking, Foreign --- Banks and banking --- Grenada

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This paper examines the impact of trade on employment, wages, and other outcomes across countries and explores the conditions and policies that help spread the gains from trade more evenly throughout the population. We exploit a large global firm-level dataset to examine the impact of import competition on employment, wages, and firm performance, as well as the firm, industry, and country factors that mitigate any negative impact of an import shock. In contrast to the results of some well-known single-country studies, we find limited adverse impact of import competition. In some countries and industries, import competition actually strengthens employment growth. In addition, import competition tends to improve average wages, investment, and firm profitability. Country characteristics, such as educational attainment, can also improve employment prospects in response to trade shocks. Finally, we find that firms experiencing greater import competition start with higher average wages; thus any relatively slower employment growth in this group of firms could lead to lower inequality.

China, People's Republic of --- Macroeconomics --- Economics: General --- Exports and Imports --- Labor --- Finance: General --- Empirical Studies of Trade --- Economic Integration --- Trade and Labor Market Interactions --- Economic Growth of Open Economies --- Welfare, Well-Being, and Poverty: General --- Economic Development, Innovation, Technological Change, and Growth --- Comparative Studies of Countries --- Trade: General --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- General Financial Markets: General (includes Measurement and Data) --- Wages, Compensation, and Labor Costs: General --- Aggregate Factor Income Distribution --- Economic & financial crises & disasters --- Economics of specific sectors --- International economics --- Labour --- income economics --- Finance --- Imports --- International trade --- Competition --- Financial markets --- Income inequality --- National accounts --- Currency crises --- Informal sector --- Economics --- Economic theory --- Income distribution --- Income economics