The digital economy is reshaping financial market structures by introducing transformative technologies and altering traditional operational and regulatory models. This systematic review explores key trends in financial innovations, digital transformation, market dynamics, and financial stability, focusing on their implications for the global financial system. A PRISMA-guided search of Web of Science, Google Scholar, Scopus, and JSTOR identified 70 peer-reviewed studies (2010–2024) examining the digital economy’s impact on financial markets. Findings reveal four core themes: (1) Financial Innovations such as blockchain, cryptocurrency, and fintech are enhancing transaction efficiency and competitive dynamics; (2) Digital Transformation via platforms like peer-to-peer lending and digital banking expands financial access while requiring adaptive regulatory frameworks; (3) Market Dynamics and Financial Stability highlight emerging risks in cybersecurity and volatility, necessitating robust policies for resilience; and (4) Equity and Accessibility, as digital platforms increase inclusion but risk widening socio-economic disparities. This review emphasizes the dual impact of the digital economy, combining opportunities for innovation with challenges for stability and regulation. Policymakers, financial institutions, and researchers must collaborate to address these challenges, fostering an equitable and resilient financial ecosystem. Future research should explore long-term strategies for sustainable digital finance.
Джерелейко et al. (Thu,) studied this question.
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