Finance Seminar with Nicola Limodio, Bocconi University
The Department of Finance is proud to announce the upcoming seminar with Nicola Limodio, Bocconi University.
Nicola Limodio will present:
High-Speed Internet, Financial Technology and Banking
ABSTRACT
We exploit the staggered arrival of submarine cables in Africa to study how high-speed internet affects financial technology and banking. Combining country and bank reports with a machine-learning algorithm, we build a dataset on a technology central for bank intermediation: the real-time gross settlement system (RTGS). High-speed internet increases RTGS adoption, leading banks to lower liquidity hoarding, increase interbank transactions and private-sector lending. We identify a distinct credit supply channel through banks connected to high-speed internet both through their multinational network and country of operation. RTGS adoption produces real effects on firms in countries with weak pre-existing interbank markets.
Location and sign up:
This is an online seminar on Zoom.
Please contact us in order to sign up.