Next Article in Journal
Internal Control and SMEs’ Sustainable Growth: The Moderating Role of Multiple Large Shareholders
Next Article in Special Issue
Exchange Rate Regime and Economic Growth in Asia: Convergence or Divergence
Previous Article in Journal
Nonparametric Econometric Methods and Applications
Previous Article in Special Issue
Foreign Direct Investment and Economic Growth in the Short Run and Long Run: Empirical Evidence from Developing Countries
Open AccessArticle

Enhancing Financial Inclusion in ASEAN: Identifying the Best Growth Markets for Fintech

Mihalcheon School of Management, Concordia University of Edmonton, Edmonton, AB T5B 4E4, Canada
J. Risk Financial Manag. 2019, 12(4), 181; https://doi.org/10.3390/jrfm12040181
Received: 17 November 2019 / Revised: 27 November 2019 / Accepted: 28 November 2019 / Published: 4 December 2019
(This article belongs to the Special Issue Contemporary Issues in Business and Economics)
While most of the advanced economies are facing saturated markets, the Association of Southeast Asian Nations (ASEAN) has been touted a stable and attractive investment region averaging 5.4% growth since 1980. In 2013, ASEAN overtook China as the top foreign direct investment destination. Boasting the world’s fifth largest economy with over 650 million people and 400 million reaching middle class, ASEAN has commendably transitioned from a subsistence economy to product and service industries. Despite the success, many live in marginalized areas without access to banking facilities. Advancing internet capability and availability present investors an opportunity to offer financial technology, or Fintech, to meet the need for financial services in this digital era. The aim of this research is to identify the countries with the highest need for financial inclusion and, hence, the best potential for Fintech growth. The results may help governments formulate policy that improves investment competitiveness. The methodology includes identifying relevant criteria and allocating weight to each criterion to evaluate the best international markets. The findings show Vietnam, Laos, and Cambodia as the countries with the highest potential. The associated risks and opportunities are discussed, followed by managerial implications, limitations, and recommendations for future research. View Full-Text
Keywords: ASEAN; financial inclusion; Fintech; risk; foreign direct investment; competitiveness ASEAN; financial inclusion; Fintech; risk; foreign direct investment; competitiveness
Show Figures

Figure 1

MDPI and ACS Style

Loo, M.K.L. Enhancing Financial Inclusion in ASEAN: Identifying the Best Growth Markets for Fintech. J. Risk Financial Manag. 2019, 12, 181.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Back to TopTop