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Effect of Fintech on Sustainable Development Goals: An Empirical Analysis

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  • Nachiket Thakkar
  • Rafiqul Bhuyan

Abstract

This paper empirically examines the impact of financial technology (FinTech) and financial inclusion on sustainable development goals (SDGs). The adoption of FinTech has a significant positive effect on key SDGs in developing nations. Specifically, FinTech contributes to reducing income inequality and poverty, while promoting gender equality, access to basic sanitation, clean energy, and education. Additionally, the increasing adoption of FinTech is linked to overall economic growth. To address potential biases from heteroscedasticity and endogeneity, we conduct robustness checks using simultaneous equation modeling and Poisson pseudo-maximum likelihood estimations. Our findings confirm that the benchmark results are robust.

Suggested Citation

  • Nachiket Thakkar & Rafiqul Bhuyan, 2024. "Effect of Fintech on Sustainable Development Goals: An Empirical Analysis," Bulletin of Applied Economics, Risk Market Journals, vol. 11(2), pages 31-46.
    • Handle: RePEc:rmk:rmkbae:v:11:y:2024:i:2:p:31-46
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    References listed on IDEAS

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    More about this item

    Keywords

    Sustainable Development Goals; SDG; Fintech; Financial Inclusion; Pseudo – Poisson Maximum Likelihood (PPML); Simultaneous Equations Model (SEM).;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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