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<p>The growing global demand for cellular devices and internet connection is a very significant advancement in promoting financial inclusion, changing the financial services environment in many low- and middle-income countries (LMICs). As per the World Bank report “Indonesia's Rising Divide,” there has been a rise in inequality inside the country. The wealthiest 20% of the population increased their spending from 45.98% in September 2022 to 46.71% in March 2023. The inequality is likely to culminate into the menace of poverty also. Using the asymmetrical NARDL model, the study determines how financial inclusion through digital finance has affected poverty and income inequality in Indonesia during the period 1999–2022. According to the findings, financial technology adoption can effectively lower rates of poverty and lessen income inequality over an extended period of time; nevertheless, the relationship is an asymmetrical one. So, there is a need to incentivize traditional financial institutions, and internet firms should augment digital financial goods and technology.</p>

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Asymmetric Impact of Digital Finance on Poverty and Income Inequality Using NARDL Approach: Evidence from Indonesia

  • 期刊论文

  • 发表日期：

    2025年1月7日

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  • Mohammad Tarique,
  • Zia Malik

摘要

The growing global demand for cellular devices and internet connection is a very significant advancement in promoting financial inclusion, changing the financial services environment in many low- and middle-income countries (LMICs). As per the World Bank report “Indonesia's Rising Divide,” there has been a rise in inequality inside the country. The wealthiest 20% of the population increased their spending from 45.98% in September 2022 to 46.71% in March 2023. The inequality is likely to culminate into the menace of poverty also. Using the asymmetrical NARDL model, the study determines how financial inclusion through digital finance has affected poverty and income inequality in Indonesia during the period 1999–2022. According to the findings, financial technology adoption can effectively lower rates of poverty and lessen income inequality over an extended period of time; nevertheless, the relationship is an asymmetrical one. So, there is a need to incentivize traditional financial institutions, and internet firms should augment digital financial goods and technology.