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Focusing on energy efficiency: The convergence of green financing, FinTech, financial inclusion, and natural resource rents for a greener Asia

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  • Hou, Yan
  • Li, Xiaobo
  • Wang, Hui
  • Yunusova, Rimma

Abstract

Energy crisis and environmental harm force economies to delve in to more sustainable practices. In this entire scenario, financial technology plays major role in mitigating harmful emissions as it promotes renewable energy resources that may help in increasing eco-friendly consumption. To have better understanding of particular transition mechanism, the study scrutinizes the panel data of 10 Asian economies for the time period 2002–2022. The study extends the empirical debate on the theory of energy by exploring the nexus among green finance, fintech, financial inclusion, natural resources, and energy efficiency. The study was rooted in an econometric methodology through the implementation of ARDL model to evaluate the long- and short-run associations among the variables. Data was extracted from global databases. The analysis provided critical insights into the associations among the variables. Firstly, the study showed that Fintech negatively impacts energy efficiency. On the other hand, GDP and energy efficiency were positively and significantly associated. Similarly, total natural resources positively and significantly influenced energy efficiency in the long-run although increasing green finance leads to a decline in energy efficiency in the long-run. Short-run coefficients lacked statistical significance. The vector error correction model unfolded a significant and negative error correction term, indicating the adjustment to equilibrium in long-run. This study not only adds to the existing literature but also offers valuable insights into energy dynamics for policymakers, governments, and future researchers.

Suggested Citation

  • Hou, Yan & Li, Xiaobo & Wang, Hui & Yunusova, Rimma, 2024. "Focusing on energy efficiency: The convergence of green financing, FinTech, financial inclusion, and natural resource rents for a greener Asia," Resources Policy, Elsevier, vol. 93(C).
    • Handle: RePEc:eee:jrpoli:v:93:y:2024:i:c:s0301420724004197
    DOI: 10.1016/j.resourpol.2024.105052
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    1. Siddik, Abu Bakkar & Mondal, Md. Saheb Ali & Uddin, Myne & Yong, Li, 2025. "Harnessing FinTech for green growth: financial innovations and energy efficiency in OECD nations," Research in International Business and Finance, Elsevier, vol. 79(C).
    2. Dimitrios Koemtzopoulos & Georgia Zournatzidou & Konstantina Ragazou & Nikolaos Sariannidis, 2025. "Cryptocurrencies Transit to a Carbon Neutral Environment: From Fintech to Greentech Through Clean Energy and Eco-Efficiency Policies," Energies, MDPI, vol. 18(2), pages 1-19, January.
    3. Heqi Zhang & Xiaonan Hou & Zhenzhen Rao, 2025. "Can fintech improve total factor energy efficiency? Evidence from China’s listed companies," Climatic Change, Springer, vol. 178(8), pages 1-20, August.
    4. Li, Xin & Li, Shiyuan & Cao, Jifeng & Spulbar, Andrei Cristian, 2025. "Does artificial intelligence improve energy efficiency? Evidence from provincial data in China," Energy Economics, Elsevier, vol. 142(C).
    5. Satrovic, Elma & Onifade, Stephen Taiwo & Haouas, Ilham, 2025. "Synthesizing eco-efficiency within EU's inclusive finance: Do environmental policy stringency and renewable energy make a difference?," Energy, Elsevier, vol. 325(C).
    6. Purong Chen & Lei Nie & Shunfeng Song & Quan Sun & Jing Zhang, 2025. "Does Green Finance Drive New Quality Productive Forces? Evidence from Chinese Listed Companies," Sustainability, MDPI, vol. 17(20), pages 1-28, October.
    7. Zournatzidou, Georgia & Staikouras, Christos & Ragazou, Konstantina & Zopounidis, Constantin & Sariannidis, Nikolaos, 2025. "Unlocking the threshold effects of ESG performance towards policy energy efficiency of the European energy sector: A hybrid multi-criteria decision-making approach based on weight-entropy TOPSIS," Energy Economics, Elsevier, vol. 151(C).
    8. Wenting Zhao & Justice Gyimah & Xilong Yao, 2025. "Fintech or Government Effectiveness? Renewable Energy Transition in Asia," Sustainability, MDPI, vol. 17(15), pages 1-20, August.
    9. Zi-Han Liu & Zheng-Zheng Li & Oana Ramona Lobonț & Kai-Hua Wang, 2025. "How Does Fintech Affect Green Total Factor Energy Efficiency? Evidence from 240 Cities in China," Sustainability, MDPI, vol. 17(19), pages 1-25, September.
    10. Shagufta Parveen & Paolo Coccorese & Muhammad Umer & Abdul Haseeb Tahir, 2025. "Synergizing Financial Inclusion and Green Finance: Advancing Sustainable Development Goals 2030 and 2050 in Alignment With COP 29 Commitments," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(S1), pages 48-76, November.
    11. Ye Wang & Muhammad Umair & Yessengali Oskenbayev & Ainur Saparova, 2026. "Digital government initiatives for sustainable innovations, digitalization, and emission reduction policies to balance conservation impact," Natural Resources Forum, Blackwell Publishing, vol. 50(1), pages 502-526, February.

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