The Role of Financial Development and Technological Innovation for Sustainable Economic Development in Asian Countries
DOI:
https://doi.org/10.63062/trt/V24.018Keywords:
Financial Development, Technological Innovation, Sustainable Development, Asian CountriesAbstract
The purpose of this study is to evaluate the impact that financial development has on sustainable development, together with the interaction of technical innovation, in 31 Asian economies throughout the period from 2003 to 2022. In the current study, sophisticated statistical models like Driscoll-Kraay (D-K) were utilised to make data analysis decisions. Based on the data, it is evident that sustainable development is negatively impacted by any financial progress. The data also suggests that technological innovation acts as a moderator in the relationship between financial development and sustainable development, which is another way in which it contributes to maintaining the relationship.
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