A road toward green growth: Optimizing the role of mineral resources, fintech innovation and effective governance in G-20 economies

Dezhi Pang, Xin Jin, Kengcheng Zheng and Nguyen Hoang Tien

Resources Policy, 2024, vol. 92, issue C

Abstract: The concept of green economy is introduced in last few decades where it is viewed as a framework that brings justice in the form of less environmental risks and improved social welfare. Thus, green growth is now considered an effective economic strategy all across the world. On the other hand, industrial revolution also enlightens the role of financial sector which is viewed as a significant suitor of growth-driven society. However, conflicting environmentally-friendly project by financial means shove innumerable concerns that either financial market products/services comfort environment and nature. In addition to this, mineral resource abundance is also considered a positive sign for nation but compromised environment and nature makes it critical. Considering the scenario, the study makes an attempt to explore the association among fintech innovation, mineral resource utilization on green growth in the present of effective governance. The present study uses dataset spanning over a period of several years from 2004 to 2021 and concentrates on a balanced panel of G20 countries. Results obtained by FMOLS and DOLS exposed that natural resource utilization is not helpful in promoting green growth due to negative association. Results also proclaim that fintech is proved to be an effective strategy to promote green growth. Surprisingly, effective governance makes no effect on green growth. Hence, open avenues for researchers to explore the area further with other methods. Study implications enforce the idea that Fintech innovation not only reduces financial costs but also improves related services. Moreover, it also implies that there is a profound need of creating synergy during Fintech service development as it will help in the expansion of green investment and reduction of environmental risks, means, promising green growth.

Keywords: Sustainability; Fintech; Natural resource; Governance; Economic growth (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:92:y:2024:i:c:s0301420724003507

DOI: 10.1016/j.resourpol.2024.104983

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