Fintech adoption and sustainable deployment of natural resources: Evidence from mineral management in Brazil

Asif Raihan, Filiz Guneysu Atasoy, Mehmet Burhanettin Coskun, Tipon Tanchangya, Junaid Rahman, Mohammad Ridwan, Tapan Sarker, Ahmed Elkassabgi, Murat Atasoy and Huseyin Yer

Resources Policy, 2024, vol. 99, issue C

Abstract: This research aims to investigate the influence of FinTech implementation on responsible mineral resources management in Brazilian economy. For the study purposes it has utilized data set from 1990 to 2022 and for data analysis the autoregressive distributed lag (ARDL) approach has been used. The results show cointegration correlation between FinTech adoption, investment in eco-friendly mining, government funding for FinTech in the mining industry, environmental compliance, technological readiness, and sustainable mineral extraction. The result shows that a 1% increase in FinTech adoption and technology infrastructure readiness would improve sustainable mineral management by 0.01% and 0.03% respectively. However, a 1% increase in the government funding for FinTech in the mining industry, environmental compliance, and investments in sustainable mining technology adversely affect sustainable mineral management by 0.2%, 0.1%, and 0.1% over the long term. The finding provides insight about how variables may affect sustainable mining policies in the future. FinTech adoption and technology flexibility are expected to have a favorable impact on natural resources. This research offers important insights for using natural resources responsibly in the shift to Industry 4.0 by utilizing FinTech and technological readiness in Brazil.

Keywords: Natural resources; Financial technology; Environmental policy; Technology adoption; Sustainable development; Sustainable mineral management (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:99:y:2024:i:c:s0301420724007785

DOI: 10.1016/j.resourpol.2024.105411

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