Ha, D. orcid.org/0000-0002-0228-1630, Nguyen, M. orcid.org/0009-0008-6240-5413, Nguyen, K. orcid.org/0000-0002-5892-5917 et al. (1 more author) (2024) Unveiling financial inclusion dynamics: Fintech's resonance in Association of Southeast Asian Nations (ASEAN). International Journal of Finance & Economics. ISSN 1076-9307
Abstract
This article examines the determinants of financial inclusion in the Association of Southeast Asian Nations (ASEANs), with a particular focus on the role of financial technology (fintech). We constructed an extensive and up-to-date Global Financial Inclusion database (2011, 2014, 2017, and 2021) to generate 26,185 observations for seven ASEAN countries over a decade, and conducted a separate case study for Singapore, the region's most financially developed member. The results reveal that financial inclusion and financial technology have experienced robust growth in ASEAN but to varying degrees amongst the member countries. Fintech has a significant impact on financial inclusion over the specified period. The relationship between age and financial inclusion follows an inverted U-shaped pattern, with the turning point occurring between the ages of 29 and 45. Surprisingly, gender does not appear to be a determining factor. These results align with the aspirations of ASEAN policymakers to promote financial inclusion in line with the sustainable development goals.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2024 The Authors. International Journal of Finance & Economics published by John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited. http://creativecommons.org/licenses/by/4.0/ |
Keywords: | age threshold; ASEAN; financial inclusion; fintech global findex; SDGs |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Economics (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 04 Sep 2024 08:29 |
Last Modified: | 04 Sep 2024 08:29 |
Status: | Published online |
Publisher: | Wiley |
Refereed: | Yes |
Identification Number: | 10.1002/ijfe.2963 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:216775 |