Author
Listed:
- Laila Khalid
(Department of Economics and Quantitative Methods (HSM), University of Management and Technology, Lahore, Pakistan)
- Farhat Rasul
(Department of Economics and Quantitative Methods (HSM), University of Management and Technology, Lahore, Pakistan)
- Nabila Asghar
(��Department of Economics, University of Education, Lahore, Pakistan)
Abstract
The current research aims to examine the dynamics among financial development, renewable energy consumption, information and communication technology (ICT) and inclusive growth by focusing on the interaction of finance and ICT in South Asia from 1995 to 2019. The objectives of the study are obtained by using new and broad measures for inclusive growth and financial development. The panel co-integration tests confirm the long-run association between the selected variables. The existence of cross-sectional dependence and mixed order of integration of analyzed variables require the application of panel linear and nonlinear autoregressive distributed lag (ARDL). The findings of both techniques disclose that financial development and ICT individually are significant and vital contributors to inclusive growth in the long run. While their collaboration does not supplement inclusive growth during the same period which is an interesting and unique finding. The short-run outcomes also endorse this outcome. However, the individual impact of financial development remains insignificant while ICT enhances inclusive growth significantly in the short run. The panel nonlinear autoregressive distributed lag (NARDL) results have more explanatory powers than panel ARDL and endorse the assumptions of significant complementarity and nonlinearity between financial development-ICT and inclusive growth. Therefore, it is suggested to increase the access and efficiency of financial intermediaries to accelerate the participation of the masses in the economic growth process and its benefits. In addition, more investment in ICT infrastructure and education is needed so that the ICT sector can complement the financial sector efficiently to boost inclusive growth in South Asia.
Suggested Citation
Laila Khalid & Farhat Rasul & Nabila Asghar, 2023.
"Exploring the Complementary and Nonlinear Effects of Financial Development and ICT on Inclusive Growth in South Asia,"
Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 18(04), pages 1-22, December.
Handle:
RePEc:wsi:afexxx:v:18:y:2023:i:04:n:s2010495223500136
DOI: 10.1142/S2010495223500136
Download full text from publisher
As the access to this document is restricted, you may want to
for a different version of it.
More about this item
Keywords
;
;
;
;
;
JEL classification:
- C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
- G2 - Financial Economics - - Financial Institutions and Services
- O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
Statistics
Access and download statistics
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:afexxx:v:18:y:2023:i:04:n:s2010495223500136. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
We have no bibliographic references for this item. You can help adding them by using this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/afe/afe.shtml .
Please note that corrections may take a couple of weeks to filter through
the various RePEc services.