Trinh Nguyen Chau, Nhung Vu Thi Hong, Tra Pham Thi Thu, Richard Ramsawak, Nhan Nguyen Thien
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引用次数: 0
Abstract
Information and Communication Technology (ICT) has transformed the way people communicate, interact, and use information for growth. This study uses a three-year panel of 91 countries to examine how mobile phones as ICT affect economic growth directly through the communication and information channel, and indirectly through the FinTech and financial inclusion channel. We derive these effects of mobile phones using the Structural Equation Modeling approach, controlling for time-invariant heterogeneity at the country level. The results are then compared with the estimates using the commonly adopted stepwise fixed-effects regressions. The results indicate that the direct effect of mobile phones is more pronounced than the indirect effect. Although mobile phones promote FinTech applications for payments and savings, expanded mobile phone coverage is negatively associated with financial inclusion in terms of formal credit. In contrast to the majority of empirical evidence showing limited impacts on developing Sub-Saharan Africa, we consistently document greater impacts on this region, suggesting greater benefits to be achieved from ICT investments. Our results remain robust across different measurements of financial inclusion and estimation methods.
期刊介绍:
Technology in Society is a global journal dedicated to fostering discourse at the crossroads of technological change and the social, economic, business, and philosophical transformation of our world. The journal aims to provide scholarly contributions that empower decision-makers to thoughtfully and intentionally navigate the decisions shaping this dynamic landscape. A common thread across these fields is the role of technology in society, influencing economic, political, and cultural dynamics. Scholarly work in Technology in Society delves into the social forces shaping technological decisions and the societal choices regarding technology use. This encompasses scholarly and theoretical approaches (history and philosophy of science and technology, technology forecasting, economic growth, and policy, ethics), applied approaches (business innovation, technology management, legal and engineering), and developmental perspectives (technology transfer, technology assessment, and economic development). Detailed information about the journal's aims and scope on specific topics can be found in Technology in Society Briefings, accessible via our Special Issues and Article Collections.