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Financial technology and sustainable development in ASEAN region: role of income inequality

This study explores the relationship between financial technology (FinTech), sustainable development, and the moderating role of income inequality in the Association of Southeast Asian Nations (ASEAN) countries. The study obtained data from 10 ASEAN countries from 2015 to 2022, employing a random-ef...

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Main Authors: Ahiase, Godwin, Andriana, Denny, Widyaningsih, Aristanti, Heryana, Toni, Purnomo, Budi Supriatono
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2024
Online Access:http://journalarticle.ukm.my/24428/1/JM_3.pdf
http://journalarticle.ukm.my/24428/
https://www.ukm.my/jem/latest-published-e/
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spelling my-ukm.journal.244282024-10-22T08:36:49Z http://journalarticle.ukm.my/24428/ Financial technology and sustainable development in ASEAN region: role of income inequality Ahiase, Godwin Andriana, Denny Widyaningsih, Aristanti Heryana, Toni Purnomo, Budi Supriatono This study explores the relationship between financial technology (FinTech), sustainable development, and the moderating role of income inequality in the Association of Southeast Asian Nations (ASEAN) countries. The study obtained data from 10 ASEAN countries from 2015 to 2022, employing a random-effects model to examine the interplay between FinTech, income inequality, and sustainable development. New findings suggest that FinTech adoption enhances environmental, economic, and social sustainability in ASEAN countries. However, this effect is enhanced by reducing the income inequality. Countries with better resource distribution employ FinTech responsibly and inclusively to improve their sustainable development. However, this study highlights the U-shaped relationship between FinTech acceptance and sustainable development. This study adds to the current body of research by emphasizing the complex impact of income inequality on the connection between FinTech and sustainable development. This finding provides a more thorough explanation of how economic disparities can shape this relationship. The findings highlight the need for policymakers and stakeholders in the financial industry to create inclusive financial ecosystems to reduce income inequality and enhance sustainable development. This includes promoting digital financial inclusion through improved internet and mobile access, enhancing financial literacy, developing robust regulatory frameworks, fostering public-private partnerships, offering targeted financial services for marginalized groups, and implementing measures to address income inequality. Penerbit Universiti Kebangsaan Malaysia 2024 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/24428/1/JM_3.pdf Ahiase, Godwin and Andriana, Denny and Widyaningsih, Aristanti and Heryana, Toni and Purnomo, Budi Supriatono (2024) Financial technology and sustainable development in ASEAN region: role of income inequality. Jurnal Ekonomi Malaysia, 58 (2). ISSN 0127-1962 https://www.ukm.my/jem/latest-published-e/
institution Universiti Kebangsaan Malaysia
building Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description This study explores the relationship between financial technology (FinTech), sustainable development, and the moderating role of income inequality in the Association of Southeast Asian Nations (ASEAN) countries. The study obtained data from 10 ASEAN countries from 2015 to 2022, employing a random-effects model to examine the interplay between FinTech, income inequality, and sustainable development. New findings suggest that FinTech adoption enhances environmental, economic, and social sustainability in ASEAN countries. However, this effect is enhanced by reducing the income inequality. Countries with better resource distribution employ FinTech responsibly and inclusively to improve their sustainable development. However, this study highlights the U-shaped relationship between FinTech acceptance and sustainable development. This study adds to the current body of research by emphasizing the complex impact of income inequality on the connection between FinTech and sustainable development. This finding provides a more thorough explanation of how economic disparities can shape this relationship. The findings highlight the need for policymakers and stakeholders in the financial industry to create inclusive financial ecosystems to reduce income inequality and enhance sustainable development. This includes promoting digital financial inclusion through improved internet and mobile access, enhancing financial literacy, developing robust regulatory frameworks, fostering public-private partnerships, offering targeted financial services for marginalized groups, and implementing measures to address income inequality.
format Article
author Ahiase, Godwin
Andriana, Denny
Widyaningsih, Aristanti
Heryana, Toni
Purnomo, Budi Supriatono
spellingShingle Ahiase, Godwin
Andriana, Denny
Widyaningsih, Aristanti
Heryana, Toni
Purnomo, Budi Supriatono
Financial technology and sustainable development in ASEAN region: role of income inequality
author_facet Ahiase, Godwin
Andriana, Denny
Widyaningsih, Aristanti
Heryana, Toni
Purnomo, Budi Supriatono
author_sort Ahiase, Godwin
title Financial technology and sustainable development in ASEAN region: role of income inequality
title_short Financial technology and sustainable development in ASEAN region: role of income inequality
title_full Financial technology and sustainable development in ASEAN region: role of income inequality
title_fullStr Financial technology and sustainable development in ASEAN region: role of income inequality
title_full_unstemmed Financial technology and sustainable development in ASEAN region: role of income inequality
title_sort financial technology and sustainable development in asean region: role of income inequality
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2024
url http://journalarticle.ukm.my/24428/1/JM_3.pdf
http://journalarticle.ukm.my/24428/
https://www.ukm.my/jem/latest-published-e/
_version_ 1814049144804737024
score 13.211869

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