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What is Financial Openness

Chapter 4
Integrating RegTech Solutions for Industry 4.0
Financial openness refers to the degree of integration and liberalization of a country's financial system with the global economy. It encompasses policies and measures that facilitate cross-border capital flows, foreign investment, trade in financial services, and participation in international financial markets. Greater financial openness can promote economic growth, efficiency, and risk-sharing but may also increase vulnerability to external shocks and contagion.
Published in Chapter:
FinTech, RegTech, and Financial Development in India's Industry 4.0 Landscape
Mithilesh Kishor Gidage (Savitribai Phule Pune University, India) and Shilpa Vasant Bhide (Savitribai Phule Pune University, India)
Copyright: © 2024 |Pages: 23
DOI: 10.4018/979-8-3693-3322-8.ch004
Abstract
This study examines the impact of fintech on India's financial landscape from 2021 to 2021. Using advanced regression techniques and accounting for various factors, the authors find a positive link between fintech and financial development, including improved access to loans and increased savings. They also highlight the potential of regtech in enhancing financial development. The findings stress the importance of balanced regulatory frameworks to foster fintech growth while managing risks. Additionally, they show how policy measures like interest rate liberalization can positively influence financial development. In conclusion, they propose a comprehensive policy framework to promote equitable fintech growth in developing nations.
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