Digitalization and its Impact on Developing Economies: A Case Study of Pakistan’s Banking Sector
Abstract
This paper explores how digitalization affects Pakistan’s developing economy. I examine the potential benefits of digitalization, such as increased efficiency, financial inclusion, and new financial products. I also discuss the challenges posed by digitalization, including digital literacy gaps, cybersecurity threats, and potential job displacement. By analyzing existing research and data on the prevalence of digital banking systems in Pakistan, I document how the rollout of digital banking systems affects the share of people leveraging banking tools such as e-wallets and financial technology apps. The increase in the take-up of these tools suggests a possible growth in the use of banking systems, especially in underdeveloped, rural areas. My findings provide insights for policymakers looking to promote an inclusive and sustainable digital transformation in Pakistan's banking sector.
Downloads
Published
Data Availability Statement
Where data is used, it is cited and the links, if available, can be found in the references section.
Issue
Section
License
Copyright (c) 2025 Intersect: The Stanford Journal of Science, Technology, and Society
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Authors who publish with this journal agree to the following terms:- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
