Efectos de la regulación sobre el desarrollo de empresas Fintech.

Abstract

Effects of regulation on the development of Fintech companies.

This research seeks to contribute to the discussion about the relationship between innovation and regulation. Evaluates the effect that the implementation of Fintech regulation has had on the number of companies established in the sector in different countries. To measure this effect, it uses a Differences in Differences design with specification of non-parallel trends and Clustering Causal Inference to observe the differentiated impact of regulation on the number of companies considering differences at the city level. The results suggest that regulation, far from inhibiting innovation, has stimulated the creation of innovative companies in the financial sector. These findings allow decision makers to identify conditions in which regulation has positive effects. Unlike other research, this work considers that both regulation and innovation have heterogeneous effects in time and space.