This study aims to test the impact of digital technology and business regulations on financial inclusion and socioeconomic development in low-income countries. Digital technology and business regulations are perceived to be powerful factors to spur financial inclusive economies and ease several social and economic ills and thus enhance the welfare of low-income nations which represent most world regions. Secondary data were collected for 77 low-income countries from different sources including World Bank, IMF, and UNDP while Smart PLS 3. software was employed for data analysis. This study is distinguished by casting a new angle of linking digital technology and business regulations as drivers of financial inclusion and socioeconomic development. It also presents financial inclusion as a means to an end. Furthermore, it contributes to the literature by providing an empirical evidence on the significant positive impact of digital technology and business regulations on both financial inclusion and socioeconomic development using PLS-SEM method. Thus, stakeholders, governments, and supporters ought to sustainably endorse adoption of digital finance and business environment to assist the poor low-income citizens get pulled into a better-quality life and more improved living standards.

Original languageEnglish
JournalSAGE Open
Issue number3
Publication statusPublished - Jul 2022


  • Business Regulations
  • Digital Technology
  • Financial Inclusion
  • Low-income Countries
  • Socioeconomic Development


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