The role of financial inclusion and ICTs in shaping inclusive growth: A bibliometric analysis of past, present, and future trends

This study conducts a comprehensive bibliometric analysis to map and review the scientific literature on the role of financial inclusion (FI) and information and communication technologies (ICTs) in fostering inclusive growth, using the Scopus database. Although previous studies have examined FI, ICTs, and inclusive growth separately, few have systematically integrated their intellectual structures into a unified framework. The bibliometric analysis includes co-citation, bibliographic coupling, and co-word analyses, supported by VOSviewer software. The findings indicate that digital finance plays a significant role in driving financial inclusion and inclusive growth. Current research shows that financial inclusion reduces poverty and income inequality, while ICTs promote economic growth and innovation in fintech and digital financial systems. Emerging themes, including digital financial inclusion, fintech, microfinance, innovation, and sustainability, represent important research trends and future directions. Overall, the integrated findings demonstrate the growing role of digitally enabled financial systems in supporting inclusive economic development

The impact of ICT adoption and trade openness on youth unemployment in ASEAN: opportunity or challenge?

This study investigates the long-term impact of Information and Communication Technology (ICT) adoption and trade openness on youth unemployment in ASEAN countries over the period 2000–2023. Panel data are analyzed using the Fully Modified Ordinary Least Squares (FMOLS) estimation method. The empirical results indicate that trade openness reduces youth unemployment, particularly among male youth. However, its effect is relatively weaker and not consistently significant for female youth, suggesting the presence of gender disparities in labor absorption within tradable sectors. Furthermore, digital infrastructure plays a crucial role in mitigating youth unemployment. Both fixed broadband and mobile cellular subscriptions are found to significantly reduce youth unemployment rates, with broadband access exhibiting a stronger and more consistent effect across models. Overall, the findings suggest that ICT adoption and trade openness constitute important mechanisms for reducing youth unemployment in ASEAN countries

Intergenerational solidarity and subjective economic vulnerability among older adults in Indonesia

This study examines the influence of intergenerational relationships on the subjective economic vulnerability of older adults in Indonesia, with particular emphasis on reciprocal motives and bequest intentions within the framework of intergenerational solidarity. Using data from the fifth wave of the Indonesia Family Life Survey (IFLS-5) conducted in 2014, comprising 6,246 respondents aged 60 and above, the study estimates two forms of subjective vulnerability—self-assessed economic vulnerability and perceived economic vulnerability—using a bivariate probit regression model to address potential endogeneity between co-residence with adult children, health status, bequest motives, and vulnerability among older adults. The findings indicate that bequest motives significantly increase the likelihood of co-residing with adult children, reflecting reciprocal exchange mechanisms within multigenerational households. Physical and psychological health emerge as the strongest determinants of subjective vulnerability among older adults. This study makes an important empirical contribution by introducing an integrated model that links bequest motives, intergenerational solidarity, and subjective vulnerability within the context of a developing country. Overall, the results underscore the need for stronger synergy between family-based support and formal social protection systems to mitigate vulnerability risks among older adults in an era of population ageing

Basic infrastructure and income inequality in Indonesia: a spatial econometrics approach

This study investigates the association between basic infrastructure and income inequality in Indonesia using a spatial panel econometric framework. Based on provincial panel data for 34 provinces from 2015 to 2024, the analysis first documents significant positive spatial dependence in the Gini ratio and then estimates a Spatial Autoregressive Random Effects (SAR-RE) model. The results show a positive, statistically significant spatial autoregressive coefficient (ρ = 0.1926), indicating that provincial inequality is linked to that of neighboring provinces. Better access to clean water and sanitation is associated with lower inequality, with sanitation showing the strongest equalizing effect. By contrast, GRDP continues to have a positive effect, suggesting that regional output expansion alone does not automatically yield inclusive distributional outcomes. This study contributes to the literature by applying spatial panel analysis to Indonesian provinces and by positioning basic infrastructure as an indirect human-capital channel in an archipelagic setting. Although the findings should be interpreted as associative rather than strictly causal, they highlight the importance of cross-provincial coordination in water and sanitation policy to reduce persistent regional inequality

Mapping food system vulnerabilities and multilevel governance across spatial typologies in Jambi Province

Uneven production capacity, spatial disparities, distribution constraints, and governance fragmentation shape food security conditions in Jambi Province. Although aggregate indicators show improvement between 2022 and 2024, persistent territorial inequalities and structural vulnerabilities remain. This study maps food system vulnerabilities and multilevel governance dynamics across spatial typologies in Jambi Province. Using a mixed-methods design that integrates Likert-scale surveys of provincial and district/municipal officials with thematic qualitative analysis of academic perspectives, the study synthesizes institutional perceptions across the four FAO pillars—availability, access, utilization, and stability. The findings reveal scalar asymmetries in governance perceptions: provincial actors rely on aggregate indicators and formal coordination mechanisms, whereas district and municipal actors emphasize operational constraints and localized bottlenecks. Academic perspectives highlight longer-term structural pressures, including land-use conversion, climate exposure, and demographic shifts in farming communities. Through iterative thematic integration, the study constructs three spatial configurations of food system vulnerability: (1) urban and peri-urban areas dependent on external supply and sensitive to price volatility; (2) highland production centers characterized by strong output capacity but climate-related risks; and (3) rural–coastal regions constrained by infrastructural limitations and environmental exposure. The results demonstrate that food security in Jambi is territorially differentiated and mediated by multilevel governance dynamics. Mapping these configurations provides a structured basis for spatially differentiated and coordination-sensitive policy design

Digital technology and job quality: multidimensional insights from the labor market in East Java

Digital technology transformation has a significant impact on labor market dynamics, both in terms of job quantity and quality. This study aims to analyze the extent to which digital technology influences workers’ job quality in East Java Province using a multidimensional approach. The measurement method used in this study is the Job Quality Index (JQI) developed by the World Bank, which assesses four dimensions of job quality: income, security, benefits, and job satisfaction. This study uses 2023 Sakernas data, comprising 39,425 observations. The analytical method employed is binary logistic regression. Robustness tests across various model specifications are conducted to ensure the stability of the results. The findings show that using digital technology increases the likelihood of achieving better job quality by up to 2.3 times compared to non-users. Other individual characteristics, such as education, training, gender, and age, also positively influence workers’ job quality. Conversely, participation in the Pre-Employment Card (Prakerja) Program and living in urban areas are found to have negative effects. This study highlights the importance of digital literacy and inclusion, as well as human capital investment through education and competency-based training aligned with labor market needs

The impact of inflation on Sierra Leone’s current account balance

This study examines the dynamic relationship between inflation and the current account balance (CAB) in Sierra Leone from 1980 to 2024, with a particular focus on both short-run and long-run effects. The objective is to determine the directional impact of inflation and other macroeconomic indicators on current account performance and to provide actionable insights for economic stabilization. Using the Autoregressive Distributed Lag (ARDL) bounds testing approach and Granger causality analysis, the study assesses both equilibrium and predictive relationships among inflation, the real exchange rate, foreign direct investment (FDI), GDP growth, real interest rates, and trade openness. The results indicate that, in the long run, the CAB improves by approximately 0.0867 percentage points for every one-percentage-point increase in inflation, consistent with the intertemporal current account framework. The findings also suggest feedback effects between inflation and the current account, though statistical significance varies across directions. Trade openness and FDI are found to exert negative long-run effects on the current account, while their lagged effects show positive adjustments. Exchange rate dynamics and interest rates are volatile, whereas economic growth contributes positively to the external balance. Furthermore, the results reveal that inflation Granger-causes GDP growth, real interest rates, and FDI, underscoring its broader macroeconomic influence. Overall, the findings highlight the importance of coordinated fiscal, monetary, and trade policies in maintaining external stability and macroeconomic balance in Sierra Leone

Do carbon emissions increase borrowing costs? Evidence from Indonesian SOEs

Climate-related risks have become increasingly relevant in corporate financing decisions. Yet, empirical evidence on how carbon emissions affect borrowing costs in state-owned enterprises (SOEs), particularly in developing countries, remains limited. In this study, borrowing costs are proxied by the cost of debt. This study analyzes the effect of carbon dioxide (CO₂) emissions on the cost of debt of Indonesian SOEs listed on the Indonesia Stock Exchange during the 2015–2024 period. Using a quantitative approach, the study employs firm-level data from LSEG Refinitiv and estimates fixed-effects panel-data regressions with clustered standard errors at the firm level. Robustness tests are conducted through winsorization and lagged independent variables. The results show that CO₂ emissions have a positive and significant effect on the cost of debt, indicating that creditors consider environmental risk when setting borrowing costs, even for state-owned firms. This relationship remains consistent in the winsorized specification, although the lagged emission variable is not statistically significant. The findings support the risk-based pricing, signaling, and legitimacy perspectives by showing that carbon emissions function as a relevant financial risk signal in debt markets. This study contributes to the sustainable finance literature by providing evidence from Indonesian SOEs, a context that remains underexplored in prior studies. In practice, the results imply that SOEs need to strengthen carbon-emission management, environmental governance, and transparency in disclosure to maintain more efficient access to debt financing

Foreign ownership as a moderating factor in transfer pricing: Evidence from multinational firms in Indonesia

This study examines the relationship between taxation, tunneling incentives, foreign ownership, and transfer pricing among multinational companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. Using purposive sampling, 27 firms were selected, resulting in 81 firm-year observations. The study employs multiple linear regression and moderated regression analysis (MRA) to assess both direct and interaction effects. The results show that taxation is not statistically significantly associated with transfer pricing, whereas tunneling incentives are negatively and significantly associated with it. Furthermore, foreign ownership plays a significant moderating role, strengthening the relationships between taxation and transfer pricing and between tunneling incentives and transfer pricing. These findings indicate that transfer pricing decisions are shaped by the interaction between internal governance mechanisms and external ownership structures rather than by individual factors in isolation. This study contributes to the literature on transfer pricing behavior in developing economies by highlighting the conditional role of foreign ownership. However, the model does not incorporate several potential control variables, such as firm size, profitability, leverage, and industry characteristics. Future research is therefore encouraged to include additional firm-level and macroeconomic variables to improve the model's robustness and explanatory power

Determinants of female labor force participation in the Bangka Belitung Islands Province

This study examines the key factors shaping women’s labor-market participation in the Bangka Belitung Islands Province, Indonesia, where gender disparities in employment persist. It aims to analyze how demographic and economic characteristics influence women’s decisions to engage in paid work. Using a quantitative approach and a binary logistic regression model, the study draws on data from 100 women aged 15 to 65 years. The analysis evaluates the effects of age, educational attainment, marital status, number of dependents, and household income. The findings indicate that education and household income are significant determinants of women’s labor force participation. Women with a junior high school education are significantly less likely to participate in the labor market than those with a tertiary education. Meanwhile, higher household income contributed by other family members reduces women’s likelihood of working. However, age, marital status, and the number of dependents do not have statistically significant effects. These results underscore the importance of human capital and household economic conditions in shaping women’s labor market behavior in resource-based regions. The study also provides policy-relevant insights for promoting more inclusive labor markets through investments in education, skills development, and gender-responsive employment strategies