Unlocking the Future of Asia and Emerging Economies: The Role of Leadership and Telecommunication Technology in Shaping the Finance-Growth Nexus

Chor Foon Tang () and Mannir Salisu
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Chor Foon Tang: Universiti Sains Malaysia, Centre for Policy Research
Mannir Salisu: Hassan Usman Katsina Polytechnic, Department of Banking and Finance

Chapter Chapter 9 in Future of Economy in Asia, 2025, pp 161-179 from Springer

Abstract: Abstract This study attempts to empirically examine the role of national leadership quality, telecommunication technology (ICT), and financial development in shaping the future economic growth of over 50 emerging and Asia economies from 1997 to 2017. This study also examines the moderating effects of national leadership quality and ICT infrastructure development on the finance-growth nexus. Knowledge of the moderating effect is fundamental, particularly for uplifting and sustaining the future economic growth of emerging economies. To achieve this goal, we employ advanced non-stationary panel data approaches, namely panel unit root, panel cointegration tests, and the Group-Mean Fully Modified Least Squares (FM-OLS) estimator. Generally, our study finds that financial development, ICT, and the quality of national leadership are positively related to long-term economic growth. Moreover, our findings also show that national leadership quality and the availability of telecommunication technology are found to be important enablers (moderators) of financial developments, which leads to greater effects on economic growth. As such, improving both the quality of national leadership and telecommunication technology is necessary to unlock and shape the future economic development of the emerging and Asia’s economies.

Keywords: Asia; Economic growth; Financial development; National leadership; ICT; Panel data (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-95500-6_9

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DOI: 10.1007/978-3-031-95500-6_9

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