This paper examines the basic theory of financial search cost and network effect with micro economic bodies, comparing the effects of financing behaviors between banks and Internet lending platform. The study shows that both the search cost and network effect may affect the financing behavior, with the lower the search cost and the greater the network effect, the higher the value of the corresponding financing channel. Internet lending platform has higher value of financingchannels for micro economic bodies than banks with advantages in both search cost and network effect, thus becoming an important provider for inclusive financial services. It is important to regulate the development of Internet lending platform, to enhance its transparency, for the construction of inclusive financial system.
Key words
Search Cost /
Network Effect /
Inclusive Finance /
Internet Lending Platform
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References
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