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Digital Transformation of MSMEs through Online Lending: An Alternative Strategy for Inclusive Economic Growth in Indonesia
Abstract
This study investigates the impact of fintech lending on the digital transformation of Micro, Small, and Medium Enterprises (MSMEs) and its subsequent effect on economic growth in Indonesia, as measured by Gross Domestic Product (GDP). Using secondary data and a multiple regression approach, the results show that fintech lending has a positive and significant effect on MSME digitalization, and MSME digitalization also has a positive and significant effect on GDP. Furthermore, MSME digitalization is tested as a mediating variable between fintech lending and GDP, confirming its strategic role in transmitting digital financial access into economic output. However, the simultaneous effect of all independent variables on GDP in the regression model is not statistically significant, which may be attributed to the small number of observations. These findings highlight the importance of digital infrastructure and access to alternative financing in empowering MSMEs and enhancing inclusive economic development, while also indicating the need for broader datasets in future research.
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DOI: https://doi.org/10.20961/bfde.v4i2.107346
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