The Impact of Financial Inclusion on Financial System Stability in ASEAN + 3

Diah Wahyuningsih; Imam Mukhlis; Iwan Wahyudi; Linda Rosalina; Alvin Sugeng Prasetyo

doi:10.2991/978-94-6463-722-9_20

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The Impact of Financial Inclusion on Financial System Stability in ASEAN + 3

Authors

Diah Wahyuningsih¹^{, *}, Imam Mukhlis², Iwan Wahyudi², Linda Rosalina³, Alvin Sugeng Prasetyo¹

¹Universitas Trunojoyo Madura, Bangkalan, Indonesia

²Universitas Negeri Malang, Malang, Indonesia

³Universitas Airlangga, Surabaya, Indonesia

^*Corresponding author. Email: diah.wahyuningsih@trunojoyo.ac.id

Corresponding Author

Diah Wahyuningsih

Available Online 21 May 2025.

DOI: 10.2991/978-94-6463-722-9_20 How to use a DOI?
Keywords: Financial Inclusion; Financial System Stability; FMOLS
Abstract: The goal of this research is to investigate and assess the effect of financial inclusion on financial system stability in ASEAN + 3. This research uses the variables financial system stability, financial inclusion index, GDP per capita and the ratio of domestic credit to the private sector. The data is based on panel data from nine ASEAN + 3 countries: Indonesia, Thailand, Cambodia, Malaysia, the Philippines, Myanmar, China, Japan, and Korea, collected between 2004 and 2021. This research uses a quantitative method. The technique used is Fully Modified Ordinary Least Squares (FMOLS). The data was analyzed using the unit root, cointegration, and FMOLS tests. The study found that variable of financial inclusion index has a favourable and significant impact on financial system stability. Financial system stability responds positively to the financial inclusion index. The financial inclusion index has a major contribution to financial system stability since it has a positive coefficient.
Copyright: © 2025 The Author(s)
Open Access: Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title: Proceedings of the 8th International Research Conference on Economic and Business (IRCEB 2024)
Series: Advances in Economics, Business and Management Research
Publication Date: 21 May 2025
ISBN: 978-94-6463-722-9
ISSN: 2352-5428
DOI: 10.2991/978-94-6463-722-9_20 How to use a DOI?
Open Access: Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

ris enw bib

TY  - CONF
AU  - Diah Wahyuningsih
AU  - Imam Mukhlis
AU  - Iwan Wahyudi
AU  - Linda Rosalina
AU  - Alvin Sugeng Prasetyo
PY  - 2025
DA  - 2025/05/21
TI  - The Impact of Financial Inclusion on Financial System Stability in ASEAN + 3
BT  - Proceedings of the  8th International Research Conference on Economic and Business (IRCEB 2024)
PB  - Atlantis Press
SP  - 227
EP  - 238
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-722-9_20
DO  - 10.2991/978-94-6463-722-9_20
ID  - Wahyuningsih2025
ER  -

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