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The Impact of Financial Inclusion on Financial System Stability in ASEAN + 3

In: Proceedings of the 8th International Research Conference on Economic and Business (IRCEB 2024)

Author

Listed:
  • Diah Wahyuningsih

    (Universitas Trunojoyo Madura)

  • Imam Mukhlis

    (Universitas Negeri Malang)

  • Iwan Wahyudi

    (Universitas Negeri Malang)

  • Linda Rosalina

    (Universitas Airlangga)

  • Alvin Sugeng Prasetyo

    (Universitas Trunojoyo Madura)

Abstract

The goal of this research is to investigate and assess the effect of financial inclusion on financial system stability in ASEAN + 3. This research uses the variables financial system stability, financial inclusion index, GDP per capita and the ratio of domestic credit to the private sector. The data is based on panel data from nine ASEAN + 3 countries: Indonesia, Thailand, Cambodia, Malaysia, the Philippines, Myanmar, China, Japan, and Korea, collected between 2004 and 2021. This research uses a quantitative method. The technique used is Fully Modified Ordinary Least Squares (FMOLS). The data was analyzed using the unit root, cointegration, and FMOLS tests. The study found that variable of financial inclusion index has a favourable and significant impact on financial system stability. Financial system stability responds positively to the financial inclusion index. The financial inclusion index has a major contribution to financial system stability since it has a positive coefficient.

Suggested Citation

  • Diah Wahyuningsih & Imam Mukhlis & Iwan Wahyudi & Linda Rosalina & Alvin Sugeng Prasetyo, 2025. "The Impact of Financial Inclusion on Financial System Stability in ASEAN + 3," Advances in Economics, Business and Management Research, in: Dediek Tri Kurniawan & Dede Rusmana (ed.), Proceedings of the 8th International Research Conference on Economic and Business (IRCEB 2024), pages 227-238, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-722-9_20
    DOI: 10.2991/978-94-6463-722-9_20
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