Syed Ahmed Shahab Tariq, Syed Faizan Iftikhar, Khurram Iftikhar, Hasan Raza, Seema Idrees
{"title":"The Role of Digital Finance in Economic Development: A Cross Country Analysis","authors":"Syed Ahmed Shahab Tariq, Syed Faizan Iftikhar, Khurram Iftikhar, Hasan Raza, Seema Idrees","doi":"10.61506/02.000103","DOIUrl":null,"url":null,"abstract":"Nations having strong infrastructure on digital platform are likely to have more acceleration in digital finance sector and reap the benefits of this sector. The term digital finance means to provide financial services through personal computers, mobile phones or any reliable digital payment system. Digital finance has the capacity to give convenient, inexpensive and firm banking services. Financial inclusion is a win-win situation that is fulfill by digital finance. Sufficient evidences confirms that internet penetration and mobile phones built up sturdy infrastructure for digital finance and thus support in boosting economic development. Therefore, the objective of this research is to examine the impact of digital finance on World’s economic development. By pursuing the fulfillment of objective, this study collected the data of 77 countries from during the period from 2011 to 2021 and adopted two step system Generalized method of moments (GMM) to inspect the effects of mobile cellular subscriptions and internet usage on economic development parameters. Our findings indicate that mobile cellular services and internet uses have better impact on economic growth and per capita income. These findings also proposes some major policy implementations especially for developing countries that they must adopt such policies which make better ground to promote digital financial system and thus move ahead to cashless economies in order to get immense benefits from it.","PeriodicalId":46316,"journal":{"name":"Journal of Policy Research in Tourism Leisure and Events","volume":"52 1","pages":"0"},"PeriodicalIF":2.7000,"publicationDate":"2023-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Policy Research in Tourism Leisure and Events","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.61506/02.000103","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"HOSPITALITY, LEISURE, SPORT & TOURISM","Score":null,"Total":0}
引用次数: 0
Abstract
Nations having strong infrastructure on digital platform are likely to have more acceleration in digital finance sector and reap the benefits of this sector. The term digital finance means to provide financial services through personal computers, mobile phones or any reliable digital payment system. Digital finance has the capacity to give convenient, inexpensive and firm banking services. Financial inclusion is a win-win situation that is fulfill by digital finance. Sufficient evidences confirms that internet penetration and mobile phones built up sturdy infrastructure for digital finance and thus support in boosting economic development. Therefore, the objective of this research is to examine the impact of digital finance on World’s economic development. By pursuing the fulfillment of objective, this study collected the data of 77 countries from during the period from 2011 to 2021 and adopted two step system Generalized method of moments (GMM) to inspect the effects of mobile cellular subscriptions and internet usage on economic development parameters. Our findings indicate that mobile cellular services and internet uses have better impact on economic growth and per capita income. These findings also proposes some major policy implementations especially for developing countries that they must adopt such policies which make better ground to promote digital financial system and thus move ahead to cashless economies in order to get immense benefits from it.
期刊介绍：
Journal of Policy Research in Tourism, Leisure & Events provides a unique forum for critical discussion of public policy debates relating to the fields of tourism, leisure and events. This encompasses the economic, social, cultural, political and environmental dimensions of official intervention. In addition to high quality theoretical and empirical papers, the journal publishes contributions examining the value of contrasting methodologies, or advocacy of novel methods. Inter- and multi-disciplinary submissions are particularly welcome. In order to foster debate and extend the scope of discussion, it publishes shorter carefully argued position statements on specific, topical interventions in the Contemporary Policy Debates section. In addition, the journal’s novel Dialogues section involves ‘point/counter-point’ debates between contributors on a range of policy-related or policy research-related topics. These may interrogate key concepts from different cultural, theoretical or spatial perspectives, or discuss potential responses to a range of practical challenges involved in undertaking policy-related research in the fields of tourism, leisure and events. With a swiftly growing academic reputation, the journal is ‘B’ rated by the Australian Business Deans Council (ABDC). It has received citations from a number of senior practitioners and influential bodies, including the Organisation for Economic Cooperation and Development (OECD).
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