The Real Effects of Fintech on the Global Financial System

Purpose: Financial technology (FinTech) entails radical changes for every facet of financial services, and has increasing significance for the global economy. The purpose of this paper is to present a birds’ eye view of salient effects of Fintech on the global financial system.   Design/methodology/approach: A literature review approach is adopted, with analysis revealing that the absence of institutional support for new financial technologies is the most significant reason for the destabilization of the financial industry, and the formation of financial bubbles in various market segments. The current implications and future directions are explored based on theoretical and empirical analyses.   Findings: This study contributes to the advancement of knowledge by summarising current practices, providing new insights, and monitoring emerging trends in financial technologies, as well as shedding light on a variety of topics of interest to policymakers and academics by proposing future research topics.   Practical implications: This study emphasises the current status of research in the field of financial technology, which can assist policymakers and institutions in selecting their future actions.   Originality/value: Very few studies have conducted an exhaustive literature assessment on Fintech and its impacts on the global financial system

The Influence of Public Debt on Economic Growth: a Review of Literature

Purpose: This paper conducts a thorough examination of the theoretical and empirical literature on the influence of public debt on economic growth in both developed and developing economies. The drive of this research is to determine whether there is mutual agreement on the effects of public debt on economic growth in global economies.   Design/methodology/approach: A literature review approach is adopted, and the current implications and future directions are explored based on theoretical and empirical analyses.   Findings: The investigation uncovers a range of contradictory information on the relative influence of public debt on economic growth. Although most of the literature reviewed supports the negative impact of public debt on economic growth, several other studies have found a long-run affirmative influence of public debt on economic growth via the fiscal multiplier effect. The article also uncovered that a few more research back up the Ricardian Equivalence Hypothesis (REH), which claims that there is no relationship between public debt and economic growth. Overall, it indicates that theoretical models and empirical studies produce indecisive outcomes based on a variety of criteria such as the level of development of the sampled nations, the methodology utilized, data coverage, and the researchers' choice of control variables, among others.   Practical implications: The outcomes may assist policymakers and governments in designing fiscal policies by analysing how existing debts affect the level of growth

The Relationship Between Savings and Investment: Evidence From Jordan

Purpose: This study aimed to examine the relationship between savings and investment in the Jordanian economy during the period (1980-2020).   Design/Methodology/Approach: This study was done using Augmented Dicky Fuller and Phillips-Perron unit root tests, and Lumsdaine and Papell unit root tests with structural breaks to determine if the time-series variables are stable or not. The Autoregressive Distributed Lag (ARDL) Bounds test method was used in this study to test long-run relationship between savings and investment   Findings: The findings of the Bounds test suggest a term savings-investment relationship. This outcome is consistent with a number of recent research reviewed in the literature that have shown that saving and investment are co-integrated in the long term.   Practical implications: keeping a sustainable supply of savings should be a top policy goal for economic stability, which can assist policymakers and institutions in selecting their future actions