ICT and financial development: Empirical evidence from ASEAN countries

Quoc Duy Tran and Cong Minh Huynh ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper empirically investigates the impact of Information and Communication Technology (ICT) on financial development proxied by Domestic credit/GDP and Money supply/GDP in ten ASEAN countries over the period 2000-2020. Results from fixed effects for panel data show that ICT stimulates financial development by both proxies. Remarkably, the impact of ICT on financial development proxied by Money supply/GDP is stronger than that proxied by Domestic credit/GDP, implying the important channel of Money supply/GDP through which ICT can stimulate financial development. In addition, other important determinants of financial development are confirmed in the context of ASEAN countries, including economic growth, trade openness, and urbanization. The findings consolidate the utilization of ICT to boost financial development in ASEAN countries.

Keywords: ASEAN countries; Financial development; ICT (search for similar items in EconPapers)
JEL-codes: L96 O16 O32 O33 (search for similar items in EconPapers)
Date: 2022-01-11
New Economics Papers: this item is included in nep-cwa, nep-fdg, nep-ict and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:111462

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