Relationship between covid-19, digital financial services and economic growth: evidence from panel data

The emergence of the novel coronavirus-2019 (COVID-19) has led to lifestyle changes for the entire world population. Stringent regulations imposed to curb the pandemic left no other choice for the world population except to adapt to the new way of living. One significant impact of this pandemic is t...

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Main Author:	Nur Shafiqah, Mohd Yusoff
Format:	Thesis
Language:	eng eng
Published:	2022
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/11125/1/s828873_01.pdf https://etd.uum.edu.my/11125/2/s828873_02.pdf
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id	my-uum-etd.11125
record_format	uketd_dc
spelling	my-uum-etd.111252024-05-27T06:16:27Z Relationship between covid-19, digital financial services and economic growth: evidence from panel data 2022 Nur Shafiqah, Mohd Yusoff Nordin, Norhafiza School of Economics, Finance & Banking School of Economics, Finance & Banking HG Finance The emergence of the novel coronavirus-2019 (COVID-19) has led to lifestyle changes for the entire world population. Stringent regulations imposed to curb the pandemic left no other choice for the world population except to adapt to the new way of living. One significant impact of this pandemic is the increased use of digital financial services. This study examines the relationship between COVID-19, digital financial services, and economic growth. The study examines the impact of digital financial services on economic growth in 39 Asia countries from 2017 until 2021. This study uses panel data analysis to achieve the objective. The independent variables, which are also the proxies for digital financial services, include digital commerce, digital remittance, and mobile point–of–sale payment. In addition, the independent variables also include internet users, population, consumer price index and a dummy variable of COVID-19. The dependent variable is the annual gross domestic product of selected countries. Findings show a significant relationship between digital commerce, digital remittance, mobile point–of–payment, internet users, population, consumer price index, COVID-19, and gross domestic product. Consistent with past studies, digital commerce, digital remittance, internet users, consumer price index, and COVID-19 show statistically significant positive results. On the contrary, mobile point-of-sale payment and population exhibit a negative relationship with the gross domestic product. These results do not align with past studies that reveal a positive relationship. The implication of this study is that each respective country's policymakers need to act proactively to strengthen the legal framework in enhancing the use and efficiency of digital financial services. 2022 Thesis https://etd.uum.edu.my/11125/ https://etd.uum.edu.my/11125/1/s828873_01.pdf text eng 2025-12-05 staffonly https://etd.uum.edu.my/11125/2/s828873_02.pdf text eng public other masters Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Nordin, Norhafiza
topic	HG Finance
spellingShingle	HG Finance Nur Shafiqah, Mohd Yusoff Relationship between covid-19, digital financial services and economic growth: evidence from panel data
description	The emergence of the novel coronavirus-2019 (COVID-19) has led to lifestyle changes for the entire world population. Stringent regulations imposed to curb the pandemic left no other choice for the world population except to adapt to the new way of living. One significant impact of this pandemic is the increased use of digital financial services. This study examines the relationship between COVID-19, digital financial services, and economic growth. The study examines the impact of digital financial services on economic growth in 39 Asia countries from 2017 until 2021. This study uses panel data analysis to achieve the objective. The independent variables, which are also the proxies for digital financial services, include digital commerce, digital remittance, and mobile point–of–sale payment. In addition, the independent variables also include internet users, population, consumer price index and a dummy variable of COVID-19. The dependent variable is the annual gross domestic product of selected countries. Findings show a significant relationship between digital commerce, digital remittance, mobile point–of–payment, internet users, population, consumer price index, COVID-19, and gross domestic product. Consistent with past studies, digital commerce, digital remittance, internet users, consumer price index, and COVID-19 show statistically significant positive results. On the contrary, mobile point-of-sale payment and population exhibit a negative relationship with the gross domestic product. These results do not align with past studies that reveal a positive relationship. The implication of this study is that each respective country's policymakers need to act proactively to strengthen the legal framework in enhancing the use and efficiency of digital financial services.
format	Thesis
qualification_name	other
qualification_level	Master's degree
author	Nur Shafiqah, Mohd Yusoff
author_facet	Nur Shafiqah, Mohd Yusoff
author_sort	Nur Shafiqah, Mohd Yusoff
title	Relationship between covid-19, digital financial services and economic growth: evidence from panel data
title_short	Relationship between covid-19, digital financial services and economic growth: evidence from panel data
title_full	Relationship between covid-19, digital financial services and economic growth: evidence from panel data
title_fullStr	Relationship between covid-19, digital financial services and economic growth: evidence from panel data
title_full_unstemmed	Relationship between covid-19, digital financial services and economic growth: evidence from panel data
title_sort	relationship between covid-19, digital financial services and economic growth: evidence from panel data
granting_institution	Universiti Utara Malaysia
granting_department	School of Economics, Finance & Banking
publishDate	2022
url	https://etd.uum.edu.my/11125/1/s828873_01.pdf https://etd.uum.edu.my/11125/2/s828873_02.pdf
_version_	1804888195793420288

Relationship between covid-19, digital financial services and economic growth: evidence from panel data

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