Focusing on energy efficiency: The convergence of green financing, FinTech, financial inclusion, and natural resource rents for a greener Asia

Yan Hou, Xiaobo Li, Hui Wang and Rimma Yunusova

Resources Policy, 2024, vol. 93, issue C

Abstract: Energy crisis and environmental harm force economies to delve in to more sustainable practices. In this entire scenario, financial technology plays major role in mitigating harmful emissions as it promotes renewable energy resources that may help in increasing eco-friendly consumption. To have better understanding of particular transition mechanism, the study scrutinizes the panel data of 10 Asian economies for the time period 2002–2022. The study extends the empirical debate on the theory of energy by exploring the nexus among green finance, fintech, financial inclusion, natural resources, and energy efficiency. The study was rooted in an econometric methodology through the implementation of ARDL model to evaluate the long- and short-run associations among the variables. Data was extracted from global databases. The analysis provided critical insights into the associations among the variables. Firstly, the study showed that Fintech negatively impacts energy efficiency. On the other hand, GDP and energy efficiency were positively and significantly associated. Similarly, total natural resources positively and significantly influenced energy efficiency in the long-run although increasing green finance leads to a decline in energy efficiency in the long-run. Short-run coefficients lacked statistical significance. The vector error correction model unfolded a significant and negative error correction term, indicating the adjustment to equilibrium in long-run. This study not only adds to the existing literature but also offers valuable insights into energy dynamics for policymakers, governments, and future researchers.

Keywords: Energy efficiency; Green finance; FinTech; Financial inclusion; Natural resource rents (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:93:y:2024:i:c:s0301420724004197

DOI: 10.1016/j.resourpol.2024.105052

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