Information and communication technologies, financial inclusion and economic growth: evidence from high- and low-income countries

Purpose - This study aims to assess the impact of information and communication technologies (ICT) and financial inclusion on economic growth. This study also examines whether ICT can be a determinant of financial inclusion. Moreover, this study provides new evidence concerning whether ICT can reduce the financial inclusion gap. Design/methodology/approach - This study uses the country-level data over the period 2005–2019 and estimate using the dynamic and the static panel model. Findings - The results show that the ICT and financial inclusion interaction variable substantially and positively impacts economic growth for only certain interaction variables. ICT is an essential determinant of financial inclusion and reduces some gaps. Originality/value - This study contributes to the literature by considering whether ICT and financial inclusion impact economic growth in high- and low-income countries. The other contribution of this study is that ICT represents a determinant in promoting financial inclusion. The final contribution of this study is providing new evidence concerning whether ICT can reduce the financial inclusion gap so that financial access can increase, financial inclusion can develop and simultaneously encourage economic growth.