Digitalization and Economic Growth Nexus in the Asean Region

Vinnandra Putri Kharisma and Andrian Dolfriandra Huruta ()

The European Journal of Applied Economics, 2025, vol. 22, issue 1, 53-70

Abstract: The digitalization of the economy has emerged as a pivotal driver of growth in the ASEAN region. The prevalence of non-cash transactions and e-commerce has increased exponentially in recent years, and these developments have been widely discussed in academic and public discourse. This research examines the impact of e-money and e-commerce on economic growth in 11 ASEAN countries. The data were obtained from the World Bank and the Statista Research Department. The data were analyzed using the System-Generalized Method of Moments (SYS-GMM) model with a dynamic panel data structure. The findings indicate that e-money has no discernible impact on economic growth, whereas e-commerce exerts a positive and statistically significant influence on economic growth. This research highlights that e-commerce is pivotal in facilitating market expansion, enhancing efficiency, and fostering innovation.

Keywords: coenomic growth; e-money; e-commerce; ASEAN; SYS-GMM (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:sng:ejae01:222

DOI: 10.5937/EJAE22-55546

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