The Role of Digital Finance in Economic Development: A Cross Country Analysis

IF 2.7 Q2 HOSPITALITY, LEISURE, SPORT & TOURISM

Journal of Policy Research in Tourism Leisure and Events Pub Date : 2023-09-30 DOI:10.61506/02.000103

Syed Ahmed Shahab Tariq, Syed Faizan Iftikhar, Khurram Iftikhar, Hasan Raza, Seema Idrees

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引用次数: 0

Abstract

Nations having strong infrastructure on digital platform are likely to have more acceleration in digital finance sector and reap the benefits of this sector. The term digital finance means to provide financial services through personal computers, mobile phones or any reliable digital payment system. Digital finance has the capacity to give convenient, inexpensive and firm banking services. Financial inclusion is a win-win situation that is fulfill by digital finance. Sufficient evidences confirms that internet penetration and mobile phones built up sturdy infrastructure for digital finance and thus support in boosting economic development. Therefore, the objective of this research is to examine the impact of digital finance on World’s economic development. By pursuing the fulfillment of objective, this study collected the data of 77 countries from during the period from 2011 to 2021 and adopted two step system Generalized method of moments (GMM) to inspect the effects of mobile cellular subscriptions and internet usage on economic development parameters. Our findings indicate that mobile cellular services and internet uses have better impact on economic growth and per capita income. These findings also proposes some major policy implementations especially for developing countries that they must adopt such policies which make better ground to promote digital financial system and thus move ahead to cashless economies in order to get immense benefits from it.

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数字金融在经济发展中的作用:一个跨国分析

拥有强大数字平台基础设施的国家可能会在数字金融领域加速发展，并从中获益。数字金融是指通过个人电脑、移动电话或任何可靠的数字支付系统提供金融服务。数字金融有能力提供方便、廉价和可靠的银行服务。普惠金融是数字金融实现的双赢局面。充分的证据表明，互联网和移动电话的普及为数字金融奠定了坚实的基础设施，从而为经济发展提供了支持。因此，本研究的目的是考察数字金融对世界经济发展的影响。为了实现这一目标，本研究收集了77个国家2011年至2021年的数据，采用两步系统广义矩量法(GMM)考察了移动蜂窝用户和互联网使用对经济发展参数的影响。我们的研究结果表明，移动电话服务和互联网使用对经济增长和人均收入有更好的影响。这些发现还提出了一些主要的政策实施，特别是对于发展中国家，他们必须采取这样的政策，为促进数字金融体系奠定更好的基础，从而向无现金经济迈进，以便从中获得巨大的利益。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Policy Research in Tourism Leisure and Events HOSPITALITY, LEISURE, SPORT & TOURISM-

CiteScore

6.90

自引率

19.40%

发文量

期刊介绍： Journal of Policy Research in Tourism, Leisure & Events provides a unique forum for critical discussion of public policy debates relating to the fields of tourism, leisure and events. This encompasses the economic, social, cultural, political and environmental dimensions of official intervention. In addition to high quality theoretical and empirical papers, the journal publishes contributions examining the value of contrasting methodologies, or advocacy of novel methods. Inter- and multi-disciplinary submissions are particularly welcome. In order to foster debate and extend the scope of discussion, it publishes shorter carefully argued position statements on specific, topical interventions in the Contemporary Policy Debates section. In addition, the journal’s novel Dialogues section involves ‘point/counter-point’ debates between contributors on a range of policy-related or policy research-related topics. These may interrogate key concepts from different cultural, theoretical or spatial perspectives, or discuss potential responses to a range of practical challenges involved in undertaking policy-related research in the fields of tourism, leisure and events. With a swiftly growing academic reputation, the journal is ‘B’ rated by the Australian Business Deans Council (ABDC). It has received citations from a number of senior practitioners and influential bodies, including the Organisation for Economic Cooperation and Development (OECD).