THE MULTIPLIER EFFECT OF FINTECH AND ARTIFICIAL INTELLIGENCE ON ECONOMIC GROWTH: A MODERN MACROECONOMIC PERSPECTIVE
Authors/Creators
- 1. Student of the Faculty of "Digital Economy and Innovations", Gulistan State University.
Description
This research paper provides a comprehensive analysis of the transformative role of Financial Technology (FinTech) and Artificial Intelligence (AI) in stimulating modern economic growth. The study investigates the "Digital Multiplier Effect," wherein the integration of algorithmic finance and automated payment systems accelerates capital velocity and enhances macroeconomic stability. By synthesizing classical economic growth theories with contemporary digital trends, the article identifies key mechanisms through which AI-driven innovations reduce transaction costs and foster financial inclusion. The findings offer strategic recommendations for emerging economies to leverage these technologies for sustainable development and global competitiveness.
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Additional details
References
- Mirziyoyev, Sh. M. (2020). Decree of the President of the Republic of Uzbekistan No. UP-6079 "On Approval of the Strategy 'Digital Uzbekistan-2030' and Measures for its Effective Implementation". Tashkent, Uzbekistan.
- Brynjolfsson, E., & McAfee, A. (2014). The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. W. W. Norton & Company.
- International Monetary Fund (IMF). (2024). Digitalization and the Future of the Global Financial System. World Economic Outlook Reports. Washington, D.C
- World Bank. (2023). FinTech and the Future of Finance: Market Dynamics and Regulatory Challenges. International Bank for Reconstruction and Development.