Scholarlink

<p>This study investigates the impact of Digital Financial Inclusion (DFI) on Sustainable Development (SD) across ASEAN countries during 2007–2022. By employing the Quantile-on-Quantile Regression (QQR) and Wavelet Coherence (WC) approaches, the analysis captures both distributional heterogeneity and time–frequency dynamics. The findings reveal that the DFI–SD relationship is nonlinear and country-specific. Expanding DFI promotes SD in most ASEAN economies—particularly Indonesia, Malaysia, and Thailand—but exerts negative effects in Vietnam at lower quantiles and Singapore at higher quantiles. Furthermore, evidence of bidirectional causality indicates that improvements in SD also reinforce DFI development in several countries. During periods of financial distress and the COVID-19 pandemic, DFI served as a stabilizing channel supporting inclusive recovery. These insights highlight the crucial role of digital finance in advancing regional sustainability and underscore the need for context-sensitive policy frameworks tailored to each country’s financial maturity and institutional capacity.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Financial inclusion in the digital era and its impact on sustainable development across ASEAN countries through combined nonparametric methods

  • 期刊论文

  • 出版模式：

    开放获取

  • 发表日期：

    2025年12月10日

查看全文
  • Huy Nguyen Quoc,
  • Hai Nguyen Van,
  • Dinh Le Quoc

摘要

This study investigates the impact of Digital Financial Inclusion (DFI) on Sustainable Development (SD) across ASEAN countries during 2007–2022. By employing the Quantile-on-Quantile Regression (QQR) and Wavelet Coherence (WC) approaches, the analysis captures both distributional heterogeneity and time–frequency dynamics. The findings reveal that the DFI–SD relationship is nonlinear and country-specific. Expanding DFI promotes SD in most ASEAN economies—particularly Indonesia, Malaysia, and Thailand—but exerts negative effects in Vietnam at lower quantiles and Singapore at higher quantiles. Furthermore, evidence of bidirectional causality indicates that improvements in SD also reinforce DFI development in several countries. During periods of financial distress and the COVID-19 pandemic, DFI served as a stabilizing channel supporting inclusive recovery. These insights highlight the crucial role of digital finance in advancing regional sustainability and underscore the need for context-sensitive policy frameworks tailored to each country’s financial maturity and institutional capacity.