Empirical linkages among financial development, digital infrastructure, energy transition and natural resources footprints in BRICS region

Fang Hou, Muhammad Amir Khan and Malik Tahir Hayat

Resources Policy, 2024, vol. 90, issue C

Abstract: Integrating digital technologies in financial space (Fin-tech) gaining significant importance due to their high efficiency and possible influence on resources efficiency. However, very few studies analyze this phenomenon in BRICS region due to limited data availability of Fin-tech. Hence, this research explores the independent and moderating influence of both financial development and digital technologies to predict the trends in Fin-tech and their respective influence on consumption-based material footprints (resources footprints). It also explores the role of energy transition, economic growth, and urbanization. Data were collected during 1998–2021 with yearly observations and advanced panel estimators have been applied. The initial findings confirm the interdependence between the BRICS, heterogeneous slope coefficients, and non-stationary properties of the stated variables. The long-run findings reveal that financial development, urbanization, and economic growth cause more resources footprints, while digital advancement in the infrastructure and energy transition reduces the depletion of the resources. The results further reveal the integration of digital technologies reduces negative influence of financial development, implying that the integration of fin-tech are imperative for efficient resources management. The short-run results also confirm similar findings except for the individual effect of financial development and energy transition, which seems insignificant.

Keywords: Fin-tech; Natural resources consumption; Material footprints; Digital infrastructure; Financial development; Energy transition (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:90:y:2024:i:c:s0301420724001156

DOI: 10.1016/j.resourpol.2024.104748

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