Financial Development, Technological Development, and Poverty

Abstract

This study aims to explore the impact of financial development, technological development on poverty for Asian and Non-Asian countries. In order to test the proposed model, five years' data from 80 countries over the year 2008 to 2014 have been collected. This study uses the Pooled OLS regression and found that poverty has a significant relationship with inflation and unemployment. However, technological advancement has found negatively and statistically significant with poverty. Furthermore, this study found that the Asian region has poverty reduction effect in comparing other regions when technological advancement speeds up.