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There are ample evidence suggesting that financial sector development plays a significant role in economic development.It promotes economic growth through capital accumulation and technological advancement by boosting savings rate, delivering information about investment, optimizing the allocation of capital, mobilizing and pooling savings, and facilitating and encouraging foreign capital ...
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. [1] [2] In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of ...
Fintech", a clipped compound of "financial technology", refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, including mobile banking , online lending platforms, digital payment systems, robo-advisors ...
The concept of a technological innovation system was introduced as part of a wider theoretical school, called the innovation system approach. The central idea behind this approach is that determinants of technological change are not (only) to be found in individual firms or in research institutes, but (also) in a broad societal structure in which firms, as well as knowledge institutes, are ...
Technology-enabled innovations represent an opportunity to promote financial inclusion. Inclusive digital financial services refer to mobile money, online accounts, electronic payments, insurance and credit, combinations of them and newer financial technology apps, which can reach people who were formerly excluded. For example, digital ...
Many development finance institutions, such as the British Commonwealth Development Corporation or Norwegian Norfund, can also be considered impact investors, because they allocate a portion of their portfolio to investments that deliver financial as well as social or environmental benefits. [16]
In software development and other information technology fields, technical debt (also known as design debt [1] or code debt) refers to the implied cost of additional work in the future resulting from choosing an expedient solution over a more robust one. [2]
Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages is an academic book by Carlota Perez that seeks to describe the connection between technological development and financial bubbles as seen in the emergence of long term technology trends. The model described by Carlota Perez shows repeated surges of ...