The Role of Digital Financial Inclusion and Social Welfare in Realizing Sustainable Development

Abstract

The goal of this study is to determine how social welfare and digital financial inclusion relate to one another and to how they affect sustainable development in Malaysia. We take data from the World Bank as a secondary source for the years 2000 to 2020, From our estimation results, We find that the variables we estimate have long-term and short-term correlations such as economic growth and digital financial inclusion and economic growth with life expectancy, in the short term digital financial inclusion has a negative effect on economic growth, then life expectancy also has a significant negative relationship with economic growth, but in the long term, it is significantly positive. This shows that between the two variables, with increasing economic growth, the number of digital financial inclusion will actually decrease, although this only applies in the short term, then in the long term with increasing life expectations will increase economic growth in Malaysia.