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Is fintech the new path to sustainable resource utilisation and economic development?

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  • Awais, Minahil
  • Afzal, Ayesha
  • Firdousi, Saba
  • Hasnaoui, Amir

Abstract

Sustainability has become an important topic due to the environmental damage caused by economic activity. In this scenario, fintech can help achieve improved resource utilisation and sustainable economic development. To improve understanding of this relationship, panel data has been collected from 66 countries for the 2010–2021 period. A green growth (GG) index has been developed and its relationships with multiple fintech variables have been analysed. Results show that Internet popularisation and Findex have positive effects on green economic activity while carbon emissions have a negative impact. Population growth and unemployment can also impact green growth. Importantly, this research highlights the need for policy makers to promote adoption of fintech for achieving greener economic growth.

Suggested Citation

  • Awais, Minahil & Afzal, Ayesha & Firdousi, Saba & Hasnaoui, Amir, 2023. "Is fintech the new path to sustainable resource utilisation and economic development?," Resources Policy, Elsevier, vol. 81(C).
    • Handle: RePEc:eee:jrpoli:v:81:y:2023:i:c:s030142072300017x
    DOI: 10.1016/j.resourpol.2023.103309
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    More about this item

    Keywords

    Fintech; Sustainable development; Innovation; Technology; Green growth index;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • G0 - Financial Economics - - General

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