Financial inclusion, economic growth and the role of digital technology

Daud, Siti Nurazira Mohd; Ahmad, Abd Halim

doi:10.1016/j.frl.2022.103602

Cited by 36 publications

(18 citation statements)

References 45 publications

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“…Within the broad category of FinTech, digital financial solutions play a significant role in advancing global financial inclusion by offering financial services and opportunities to individuals worldwide. This recognition is widely acknowledged in the literature (51,(95)(96)(97)(98). Additionally, Yeyouomo et al (99) addresses the role of FinTechs in closing the gender gap of financial inclusion in Sub-Saharan Africa (SSA) between 2011 and 2017.…”

Section: Fintech Financial Inclusion and Sustainable Development: Wha...mentioning

confidence: 77%

Fintech, financial inclusion, and sustainable development in the African region

Tidjani,

Madouri

2024

Front. Appl. Math. Stat.

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In this study, we explore the nexus between sustainable development and finance, with a specific focus on the African region–a critical yet underexplored context in the existing literature. Against the backdrop of evolving challenges in financial inclusion, improved access, and the growing prevalence of financial technology (FinTech), we aim to fill a research gap by investigating the connection between FinTech, financial inclusion, and sustainable development. The empirical exploration spans 25 African countries from 2011 to 2019, employing econometric methods such as dynamic panel (SGMM two-steps) and static panel (OLS, FE, LSDV). Utilizing key indicators like Adjusted Net Savings (ANS) and Gross Saving rate (GS), our findings reveal a substantial positive impact of financial inclusion and FinTech on sustainable development. However, an intriguing discovery emerges as the interaction between these variables exhibits a weak negative and significant effect. As a unique contribution to the existing literature, we estimate marginal effects at various levels of FinTech and financial inclusion on sustainable development. Beyond insights, our study offers vital policy recommendations, emphasizing the necessity for improved collaboration among financial service providers to avoid redundancy. Furthermore, we highlight the critical need to expand financial infrastructure, advocate for FinTech promotion, and foster inter-African cooperation.

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Section: Fintech Financial Inclusion and Sustainable Development: Wha...mentioning

confidence: 77%

Fintech, financial inclusion, and sustainable development in the African region

Tidjani,

Madouri

2024

Front. Appl. Math. Stat.

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“…Zhang Qingjun and Huang Ling showed that digital inclusive finance has a driving effect on high-quality economic development, with industrial structure as a transmission intermediary [23]. Daud & Ahmad proved that inclusive finance and digital technology have a positive and significant impact on national economic growth [28]. Uche & Robinson et al studying 29 sub-Saharan African countries, concluded that digital inclusive finance has a positive and significant impact on economic growth [29].…”

Section: Research On the Impact Of Digital Inclusive Finance On High-...mentioning

confidence: 99%

The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study

Zhou,

Gao,

Xing

et al. 2024

JFA

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As China's economy transitions from high-speed growth to high-quality development, digital inclusive finance emerges as a dynamic and pivotal sector within the country's financial system. This domain plays a crucial role in addressing the shortcomings of traditional financial services, enhancing the efficiency of financial services, promoting consumption, and driving economic growth. As the turmoil caused by the COVID-19 epidemic gradually stabilizes, the impact of the epidemic on the economic development of various countries is gradually reduced, and the development of the global economy gradually returns to normal, China's economic development is facing new opportunities and challenge. Given the current challenges in China's economic environment, China has made new adjustments and begun to promote high-quality economic development on the premise of significantly improving quality and efficiency. Therefore, in the current stage of China’s economic development, it is imperative to investigate whether digital inclusive finance can indeed foster high-quality economic development. This paper begins by reviewing literature relevant to digital inclusive finance and high-quality economic development. Subsequently, utilizing panel data from 2011 to 2020 across 30 provinces, a bidirectional fixed-effects model is employed to validate the positive impact of digital inclusive finance on high-quality economic development. The study further explores whether digital inclusive finance exhibits positive effects on high-quality economic development in different regions. Finally, based on the research findings, the paper concludes with several policy recommendations for optimizing the role of digital finance in promoting regional economic growth.

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“…Digitalisation can also affect economic growth through improving access to financial services and improving financial inclusion. Nurazira and Ahmad (2023) consider panel data across 84 countries since the Global Financial Crisis and find a positive and significant effect of financial inclusion and digital technology on firm-level economic growth. Acemolgu et al (2022a) find that AI changes the skills mix of firms away from the jobs that AI can complete towards higher skills requirements.…”

Section: Benefits Of Digitalisationmentioning

confidence: 99%

Irish enterprise digitalisation: A cross-country exploration

Hogan,

Kren,

O'Toole

2024

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This research provides a cross-country perspective on the rate of digitalisation of Irish enterprises. We explore differences across countries, sectors and firm size categories by deploying data on both the usage of digitalisation technologies (stock of digital activities) as well as investment in new digital activities (flow). We draw on two main datasets: a) the Eurostat ICT usage in enterprises survey; and b) the European Investment Bank Investment Survey. We find that Ireland performs relatively well in terms of e-commerce and some more advanced technologies. However particular sectors and firm size groups (such as construction and smaller firms) display low levels of digitalisation. This supports the continued deployment of a sector-specific targeted policy approach that can cater for heterogeneous challenges faced by different firms. We find some evidence of correlations between enabling factors like employment skill levels and the cost of finance and the level of investment in digitalisation.

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Financial inclusion, economic growth and the role of digital technology

Cited by 36 publications

References 45 publications

Fintech, financial inclusion, and sustainable development in the African region

Fintech, financial inclusion, and sustainable development in the African region

The Impact of Digital Inclusive Finance on High-Quality Economic Development: A Research Study

Irish enterprise digitalisation: A cross-country exploration

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