<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462025000400002</article-id>
<article-id pub-id-type="doi">10.21919/remef.v20i4.1023</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Efectos de la regulación sobre el desarrollo de empresas Fintech]]></article-title>
<article-title xml:lang="en"><![CDATA[Effects of regulation on the development of Fintech companies]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Pérez]]></surname>
<given-names><![CDATA[Mario Miguel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ramírez Ruiz]]></surname>
<given-names><![CDATA[Adriana]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Hernández Rocha]]></surname>
<given-names><![CDATA[Jaime Osmin]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Banco Interamericano de Desarrollo  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>EE</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Centro de Investigación y Docencia Económica  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2025</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2025</year>
</pub-date>
<volume>20</volume>
<numero>4</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462025000400002&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462025000400002&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462025000400002&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Esta investigación busca contribuir a la discusión acerca de la relación entre innovación y regulación. Evalúa el efecto que la implementación de la regulación Fintech ha tenido en el número de empresas establecidas en diferentes países. Para medir tal efecto utiliza un diseño de Diferencias en Diferencias con especificación de tendencias no paralelas y Clustering Causal Inference para observar el impacto diferenciado de la regulación en el número de empresas considerando diferencias a nivel ciudad. Los resultados sugieren que la regulación, lejos de inhibir la innovación, ha estimulado la creación de empresas innovadoras en el sector financiero. Estos hallazgos permiten a los tomadores de decisión identificar condiciones en las que la regulación tiene efectos positivos. A diferencia de otras investigaciones, este trabajo considera que tanto la regulación como la innovación tienen efectos heterogéneos en tiempo y espacio.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This research seeks to contribute to the discussion about the relationship between innovation and regulation. Evaluates the effect that the implementation of Fintech regulation has had on the number of companies established in the sector in different countries. To measure this effect, it uses a Differences in Differences design with specification of non-parallel trends and Clustering Causal Inference to observe the differentiated impact of regulation on the number of companies considering differences at the city level. The results suggest that regulation, far from inhibiting innovation, has stimulated the creation of innovative companies in the financial sector. These findings allow decision makers to identify conditions in which regulation has positive effects. Unlike other research, this work considers that both regulation and innovation have heterogeneous effects in time and space.]]></p></abstract>
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<kwd lng="es"><![CDATA[G38]]></kwd>
<kwd lng="es"><![CDATA[Regulación]]></kwd>
<kwd lng="es"><![CDATA[innovación]]></kwd>
<kwd lng="es"><![CDATA[FINTECH]]></kwd>
<kwd lng="es"><![CDATA[política pública]]></kwd>
<kwd lng="en"><![CDATA[G18]]></kwd>
<kwd lng="en"><![CDATA[G28]]></kwd>
<kwd lng="en"><![CDATA[G38]]></kwd>
<kwd lng="en"><![CDATA[Regulation]]></kwd>
<kwd lng="en"><![CDATA[Innovation]]></kwd>
<kwd lng="en"><![CDATA[FINTECH]]></kwd>
<kwd lng="en"><![CDATA[Public Policy]]></kwd>
</kwd-group>
</article-meta>
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