 Does Information and Communications Technology (ICT) Development Foster Economic Growth of ASEAN5 +3 Countries?Wong Ee Syuen and Rossazana Ab-Rahim () Asian Journal of Empirical Research, 2020, vol. 10, issue 10, 223-230 Abstract: Globally, digital technologies affect lifestyles, norms and business restructuring models. Correspondingly, it plays a significant role in fostering the economic growth of Association of South East Asian Nations (ASEAN) as well as Asian countries at large. This study aims to investigate the impact of ICT development on the economic growth of the ASEAN5 +3 nations over the period of 2011 to 2018. ASEAN5+3 comprises of eight nations namely Malaysia, Singapore, Philippines, Thailand, Indonesia, China, South Korea and Japan. The methodologies applied in this study include panel data regression analysis and several diagnostic tests such as the Hausman test and the Breusch-Pagan Lagrange multiplier (BPLM) test. The empirical results suggest there is a positive significant relationship between ICT development and economic growth among the ASEAN5 +3 countries. This relationship can be further strengthened through various policy implementations such as governmental investments. The results of this study imply that these Asian countries are growing in consistence with information technology (IT)-led development. Keywords: ICT Development; Economic Growth; ASEAN; Panel Regression; Policy Implementation; IT-led Development. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:asi:ajoerj:v:10:y:2020:i:10:p:223-230:id:4322 Access Statistics for this article More articles in Asian Journal of Empirical Research from Asian Economic and Social Society |
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