Bank Competition Amid Digital Disruption: Implications for Financial Inclusion

• 成果类型: Article
• 署名作者: Jiang, Erica xuewei; Yu, Gloria yang; Zhang, Jinyuan
• 署名单位: University of California System; University of California Los Angeles; Singapore Management University
• 刊物名称: JOURNAL OF FINANCE
• ISSN/ISSBN: 0022-1082; 1540-6261
• DOI: 10.1111/jofi.70051
• 发表日期: 2026-08
• 页码: 1951-2004
• 关键词: technological-progress; branch banking; FinTech; deregulation; INFORMATION; INNOVATION; expansion; services; access; IMPACT

摘要

We examine how digital disruption affects bank competition using the staggered rollout of 3G mobile networks. 3G expansion increased mobile banking adoption among tech-savvy households, reducing branch networks-especially in younger counties. Banks' strategies diverged: Less branch-reliant banks closed branches and competed on price, while more branch-reliant banks maintained branches but raised spreads. A structural model shows that perceived digital service improvements among younger consumers drove these shifts, reducing welfare for older savers. Counterfactuals demonstrate that subsidizing adoption for older savers can cost-effectively reduce these disparities, facilitating a smoother digital transition.