Does financial inclusion and ICT influence the economic growth: an evidence from select emerging economies using panel data estimates

Information Communication Technology (ICT) 's contribution to financial ‎services and economic growth is extensively researched. With technological development, the ‎financial systems are converging with ICT platforms, thereby leading to digital financial systems‎, creating opportunities that bridge the gap between affluent and disadvantaged sections in ‎emerging economies. In this study, we employ the panel data estimation method to evaluate the ‎impact of ICT in providing financial services that would lead to sustainable economic growth in ‎‎12 emerging economies from 2010 to 2024. The findings emphasize the critical role ‎of digital financial services and ICT infrastructure in boosting financial inclusion and driving ‎inclusive economic growth. The Random Effect model has inferred that there exists a moderate ‎effect of fixed telephone lines and mobile cellular subscribers on GDP by simplifying digital ‎applications, integrating regional languages. By ensuring secure systems in places, the regulators ‎and service providers can contribute to the sustainable economic growth of both the country ‎and the underserved communities‎.