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Impact of fintech and financial inclusion on sustainable development goals: Evidence from cross country analysis

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  • Choudhary, Priya
  • Ghosh, Chinmoy
  • Thenmozhi, M

Abstract

We investigate the dual influence of fintech and financial inclusion on diverse sustainable development goals, including SDG 2, 3, 4, 8 and 9, based on panel data of 86 countries. A quantile regression analysis shows that fintech has a favorable influence on education at higher quantiles. Additionally, Fintech and financial inclusion positively enhance GDP (SDG 8) and internet (SDG 9) upto 50th quantiles, but their impact decreases at higher percentiles. The findings suggest that fintech and financial inclusion can drive progress towards achieving SDGs by encouraging economic growth, supporting zero hunger, reducing maternal deaths, enhancing quality education, and empowering innovation and infrastructure. Further analysis demonstrates that financial inclusion and SDGs can promote each other, and similarly, fintech and SDGs can mutually reinforce each other.

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  • Choudhary, Priya & Ghosh, Chinmoy & Thenmozhi, M, 2025. "Impact of fintech and financial inclusion on sustainable development goals: Evidence from cross country analysis," Finance Research Letters, Elsevier, vol. 72(C).
    • Handle: RePEc:eee:finlet:v:72:y:2025:i:c:s1544612324016027
    DOI: 10.1016/j.frl.2024.106573
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    More about this item

    Keywords

    Fintech; Financial inclusion; Sustainable development goals; Quantile regression;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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