arbiter
JournalsPricingAccount

Measuring Fintech Progress in Emerging Economies: Constructing a Multidimensional Index using a Two-Stage PCA Approach

Pankaj Yadav et al.

Journal of Business Thought2025https://doi.org/10.18311/jbt/2025/50780article
ABDC C
Weight
0.50

What the paper says

This study aims to quantify and measure the development of Financial Technology (fintech) under four dimensions ofdemand and supply side of fintech by using a comprehensive dataset of the Indian banking sector from 2011 to 2024.The two-stage principal component analysis (PCA) is used in the study, and the results showed a strong positive trend inindex value from 0.078 in 2011 to 6.107 in 2023. The impact of COVID-19 on fintech clearly shows the decline in growthfrom 16.60% in 2018-19 to 3.69% in 2019-20. The findings suggest that banks should focus on more robust infrastructureand invest more in the development of fintech products and services. Policy makers should focus on the penetration offintech, especially in rural and unbanked population areas. This fintech index would be a valuable tool in further studies toinvestigate the role of fintech in the economic, social, and environmental sustainability of an emerging economy.

Open paper page →

Cite this paper

https://doi.org/https://doi.org/10.18311/jbt/2025/50780

Or copy a formatted citation

@article{pankaj2025,
  title        = {{Measuring Fintech Progress in Emerging Economies: Constructing a Multidimensional Index using a Two-Stage PCA Approach}},
  author       = {Pankaj Yadav et al.},
  journal      = {Journal of Business Thought},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.18311/jbt/2025/50780},
}

Paste directly into BibTeX, Zotero, or your reference manager.

Flag this paper

Measuring Fintech Progress in Emerging Economies: Constructing a Multidimensional Index using a Two-Stage PCA Approach

Flags are reviewed by the Arbiter methodology team within 5 business days.

Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.