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<p>In the knowledge-based economy, economic growth is fundamentally propelled by the creation, diffusion, and application of knowledge. This empirical study examines how key knowledge-enabling factors, Information and Communication Technology (ICT), financial development (FD), and trade openness (TO), jointly foster economic development through knowledge-driven mechanisms across 32 Asian countries from 2000 to 2019. Employing robust static and dynamic panel estimations, it reveals both the individual and interactive impacts of these factors across Asia’s diverse sub-regions (South, Southeast, West, East, and Central Asia). The results indicate that ICT and FD significantly enhance economic growth at the Asia-wide level, though their effects vary by sub-region in magnitude and even direction due to context-specific factors. Notably, a positive interactive effect of ICT, FD, and trade emerges in every sub-region, albeit with differing statistical significance, suggesting that economies reap the greatest knowledge-based gains when these enablers advance in tandem, thereby reinforcing the systemic foundations of a knowledge economy. This heterogeneity across regions underscores the need for context-specific knowledge-economy policies to maximize the benefits of these drivers. By positioning ICT, financial systems, and trade as interrelated pillars of knowledge-driven development, the study offers new empirical evidence within the knowledge economy paradigm and provides policy insights for enhancing innovation, productivity, and competitiveness in Asia’s digital era.</p>

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Pathways to Asian Economic Growth: Investigating the Effect of ICT, Financial Development, and Trade from a Regional Perspective

  • 期刊论文

  • 发表日期：

    2026年2月13日

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  • Sherzad Ahmed,
  • Muhammad Tariq Majeed

摘要

In the knowledge-based economy, economic growth is fundamentally propelled by the creation, diffusion, and application of knowledge. This empirical study examines how key knowledge-enabling factors, Information and Communication Technology (ICT), financial development (FD), and trade openness (TO), jointly foster economic development through knowledge-driven mechanisms across 32 Asian countries from 2000 to 2019. Employing robust static and dynamic panel estimations, it reveals both the individual and interactive impacts of these factors across Asia’s diverse sub-regions (South, Southeast, West, East, and Central Asia). The results indicate that ICT and FD significantly enhance economic growth at the Asia-wide level, though their effects vary by sub-region in magnitude and even direction due to context-specific factors. Notably, a positive interactive effect of ICT, FD, and trade emerges in every sub-region, albeit with differing statistical significance, suggesting that economies reap the greatest knowledge-based gains when these enablers advance in tandem, thereby reinforcing the systemic foundations of a knowledge economy. This heterogeneity across regions underscores the need for context-specific knowledge-economy policies to maximize the benefits of these drivers. By positioning ICT, financial systems, and trade as interrelated pillars of knowledge-driven development, the study offers new empirical evidence within the knowledge economy paradigm and provides policy insights for enhancing innovation, productivity, and competitiveness in Asia’s digital era.