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Role Of Ict As A Contingency Factor In Financial Sector Development, Remittances, And Economic Growth Nexus: An Empirical Study Of Indonesia

Author

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  • Keshmeer Kanewar Makun

    (University of the South Pacific)

  • T.K. Jayaraman

    (University of Tunku Abdul Rahman)

Abstract

This study examines the role of ICT as a factor in Indonesia’s financial sector development, remittances, and economic growth nexus using annual data from 1984-2017. We use the bounds testing procedure based on the Autoregressive Distributed Lag framework and the neoclassical growth model. The findings of the study reveal that ICT has indeed emerged as a significant factor in the remittance-growth nexus by playing a complementary role in financial sector development. The policy implication is that ICT needs to be supported at all levels and the financial inclusion process should be carried forward as it has all the potential to speed up economic growth and development.

Suggested Citation

  • Keshmeer Kanewar Makun & T.K. Jayaraman, 2020. "Role Of Ict As A Contingency Factor In Financial Sector Development, Remittances, And Economic Growth Nexus: An Empirical Study Of Indonesia," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 23(3), pages 363-386, October.
    • Handle: RePEc:idn:journl:v:23:y:2020:i:3d:p:363-386
    DOI: https://doi.org/10.21098/bemp.v23i3.1180
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    Cited by:

    1. Keshmeer Makun & Tiru K. Jayaraman, 2021. "COVID- 19 impact on remittances and economic growth in three transitional countries in ASEAN: evidence from nonlinear analysis," Economics Bulletin, AccessEcon, vol. 41(3), pages 1566-1578.

    More about this item

    Keywords

    ICT; Remittances; Financial Sector Development; Economic Growth;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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