Abstract

Purpose: The purpose of this study evaluates the impact of digital financial product distribution on economic growth in 19 Asian countries from 2014 to 2023. Research design, data and methodology: By employing the research method of regression analysis using panel data from the World Bank and the IMF, the research assesses digital finance's influence through three models focusing on mobile money accounts, digital payments, and internet penetration. Results: The results reveal that mobile money accounts and digital payments positively impact economic growth, highlighting their role in promoting financial inclusion and economic activity. Conversely, internet usage shows a negative correlation, suggesting that increased connectivity alone does not uniformly drive growth and may present challenges such as digital inequalities and market disruptions. Conclusion: The findings underscore the necessity for a robust digital finance framework that balances innovation with regulatory oversight to maximize economic benefits. Policy recommendations include enhancing digital infrastructure, fostering financial literacy, and promoting regional collaboration to build a more inclusive digital finance ecosystem. This research contributes to the understanding of digital finance's diverse effects on economic growth and offers practical insights for policymakers aiming to optimize digital financial service adoption, thereby fostering sustainable development across varying economic contexts in Asia.