ISSN : 2663-2187

Financial development, ICT diffusion and economic growth: Case GCC Countries

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Siham Riache, Bilal Louail , Jamel Ali Arous , Mesud Essa Tayeb
» doi: 10.48047/AFJBS.6.15.2024.9387-9397

Abstract

The study's goal is to find out how the financial sector's expansion and the spread of information and communication technology (ICT) affect the GCC nations' economies. It aims to comprehend how these elements interact to influence regional development and economic performance. The panel data model estimation technique for the GCC countries from 2001 to 2021 was applied. The paper examines factors influencing GDP growth in GCC nations between 2001 and 2021. The GDP was found to be significantly positively impacted by both domestic bank credit to the private sector (DCPSB) and mobile cellular subscriptions (MCS). The rate of inflation (INF) was negligible. with a correlation coefficient of 0.41. The findings of this study can be helpful to academics and researchers studying ICT, financial development, and economic growth, as well as decision-makers in the GCC nations. In a novel way, this study examines how financial development and ICT dissemination interact to influence economic growth in GCC nations.

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