The Impact of Digital Technology and Business Regulations on Financial Inclusion and Socio-Economic Development in Low-Income Countries

Digital technology and business regulations are perceived to be powerful factors to spur financial inclusive economies and ease several social and economic ills and thus enhance the welfare of low-income nations which represent most world regions. For this research, which aims to test the impact of digital technology and business regulations on financial inclusion and socioeconomic development, secondary data was collected for 77 low-income countries from different sources including World Bank, IMF, and UNDP.

This study is distinguished by casting a new angle of linking digital technology and business regulations as drivers of financial inclusion and socioeconomic development. It also presents financial inclusion as a means to an end. Furthermore, it contributes to the literature by providing an empirical evidence on the significant positive impact of digital technology and business regulations on both financial inclusion and socioeconomic development using PLS-SEM method.