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This chapter investigates the impact of financial inclusion on the Sustainable Development Goals Index (SDG Index) in the ASEAN-5 countries (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam) using data from 2015 to 2021. Employing the Pooled Estimated Generalized Least Squares (EGLS) method with cross-section weights, the study reveals that financial inclusion has a significant positive effect on the SDG Index, underscoring its crucial role in advancing sustainable development. Conversely, financial development, economic growth, and education show negative impacts on the SDG Index. The study highlights significant policy implications, including the need to expand financial inclusion through supportive regulations and digital innovation. Additionally, continuous monitoring and evaluation of financial inclusion initiatives are essential to ensure their effectiveness and alignment with the SDGs, enabling data-driven adjustments and improved outcomes.

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The Interplay Between Financial Inclusion and the Sustainable Development Goals Index in ASEAN-5 Countries

  • 章节

  • 发表日期：

    2025年

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  • Abdul-Latif Mohammed,
  • Ibrahim Nandom Yakubu,
  • Alhassan Bunyaminu

摘要

This chapter investigates the impact of financial inclusion on the Sustainable Development Goals Index (SDG Index) in the ASEAN-5 countries (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam) using data from 2015 to 2021. Employing the Pooled Estimated Generalized Least Squares (EGLS) method with cross-section weights, the study reveals that financial inclusion has a significant positive effect on the SDG Index, underscoring its crucial role in advancing sustainable development. Conversely, financial development, economic growth, and education show negative impacts on the SDG Index. The study highlights significant policy implications, including the need to expand financial inclusion through supportive regulations and digital innovation. Additionally, continuous monitoring and evaluation of financial inclusion initiatives are essential to ensure their effectiveness and alignment with the SDGs, enabling data-driven adjustments and improved outcomes.