BIS paper sees fintech creating ‘barbell’ market structure


Digital innovation is reshaping markets, with the most likely end point being a “barbell” structure, authors of a new Bank for International Settlements paper argue.

Innovation allows small firms with narrow business models to reach potential customers, helping smaller firms survive, the authors say. But the costs of acquiring customers, assembling products and seeking funding tend to favour big tech firms that can take advantage of economies of scale.

The authors suggest the most likely

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