Evaluating the influence of financial technology (FinTech) on sustainable finance: a comprehensive global analysis

IF 1.5 Q3 BUSINESS, FINANCE Financial Markets and Portfolio Management Pub Date : 2023-12-25 DOI:10.1007/s11408-023-00439-w
Muhammad Kashif, Chen Pinglu, Saif Ullah, Mubasher Zaman
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Abstract

This paper aims to investigate the influence of financial technology (FinTech) on sustainable finance. The sample for this study spans from 2010 to 2021, encompassing data from 89 countries. The study employed a two-stage least-square regression approach with the instrumental variables and confirmed the findings using a two-step system generalized method of moments. The findings show that FinTech has a significant favorable impact on sustainable finance. Other factors such as institutional quality, socioeconomic condition, and renewable energy have a significant and beneficial influence on the trajectory of sustainable finance, except the impact of globalization, which is positive but insignificant. Furthermore, FinTech is crucial to driving the transition toward a sustainable future distinguished by a lower carbon economy. The study found that FinTech has extensive application across various sectors of sustainable finance and has substantial potential to create long-term positive effects in this regard. FinTech can further integrate with other technologies to facilitate diversified growth in sustainable finance. Additionally, this study highlights FinTech-related trends and research opportunities in sustainable finance, demonstrating how they can help each other advance worldwide with significant policy implications for countries seeking to advance sustainable finance through technology.

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评估金融科技(FinTech)对可持续金融的影响:全球综合分析
本文旨在研究金融科技(FinTech)对可持续金融的影响。本研究的样本时间跨度为 2010 年至 2021 年,涵盖 89 个国家的数据。研究采用了工具变量两阶段最小二乘法回归法,并使用两步系统广义矩法确认了研究结果。研究结果表明,金融科技对可持续金融具有显著的有利影响。其他因素,如机构质量、社会经济条件和可再生能源,对可持续金融的发展轨迹都有显著的有利影响,只有全球化的影响是积极的,但不显著。此外,金融科技对于推动向以低碳经济为特征的可持续未来转型至关重要。研究发现,金融科技在可持续金融的各个领域都有广泛应用,并有巨大潜力在这方面产生长期积极影响。金融科技可以进一步与其他技术相结合,促进可持续金融的多元化发展。此外,本研究还强调了金融科技在可持续金融领域的相关趋势和研究机会,展示了它们如何在全球范围内相互帮助,对寻求通过技术推进可持续金融的国家具有重要的政策影响。
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来源期刊
CiteScore
3.20
自引率
0.00%
发文量
21
期刊介绍: The journal Financial Markets and Portfolio Management invites submissions of original research articles in all areas of finance, especially in – but not limited to – financial markets, portfolio choice and wealth management, asset pricing, risk management, and regulation. Its principal objective is to publish high-quality articles of innovative research and practical application. The readers of Financial Markets and Portfolio Management are academics and professionals in finance and economics, especially in the areas of asset management. FMPM publishes academic and applied research articles, shorter ''Perspectives'' and survey articles on current topics of interest to the financial community, as well as book reviews. All article submissions are subject to a double-blind peer review. http://www.fmpm.org Officially cited as: Financ Mark Portf Manag
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