THE ROLE OF PUBLIC SPENDINGS, ECONOMIC CONDITIONS, AND DIGITALIZATION ON SOCIO-HUMAN DEVELOPMENT PERFORMANCE IN ASIA

Abstract

Recently, human development has become the most critical factor for societies worldwide, and public expenditure, economic conditions, and digitalization can all contribute to its enhancement. This aspect requires the attention of researchers and regulators, and the current study investigates the impact of public spendings, such as government health and education expenditures, economic conditions, such as economic growth, inflation, and population growth, and digitalization on the socio-human development in the top ten Asian GDP-producing nations. From 2010 to 2021, the researcher extracted secondary data from secondary sources such as World Development Indicators (WDI). The researchers also used the continuously updated, fully modified (CUP-FM), and continuously updated bias-corrected (CUP-BC) models to examine the relationship between the constructs. The results revealed that public spending, such as government health and education expenditures, and economic conditions, such as economic growth, inflation, population growth, and digitalization, have positive links with socio-human development in Asia's top ten GDP-producing nations. The outcomes provide regulators with guidelines for devising regulations for achieving socio-human development by increasing public spending, enhancing economic conditions, and embracing digitalization.