Unlocking the potential of natural resources, fintech and fiscal policy for carbon neutrality; evidence from N-11 nations

Shaohuai Feng, Mohd Wira Mohd Shafiei, Theam Foo Ng and Jie Ren

Resources Policy, 2024, vol. 98, issue C

Abstract: By controlling the quantity of greenhouse gases in the natural environment, carbon neutrality is designed to reduce the adverse impacts of climate change. The specific goal can be attained by enforcing carbon dioxide elimination approaches, fostering the growth of fintech, fiscal policy tools, and funding in human development, along with the lowering of emissions. The current research analyzes the influence of the human development index (HDI), natural resources (NR), fintech (FT), and fiscal policy (FP) on carbon neutrality within the parameters of a policy structure. This task is performed with the objective of fulfilling the goals stated above. The ongoing research applies the innovative " General Method of Moment Quantile-based Regression (GMMQR)" and “Panel Quantile ARDL" techniques on a sample of N-11 nations to accomplish the goal. The outcomes support the idea that NR and FP function as pivotal factors in diminishing carbon neutrality. On the other hand, FT and HDI improve carbon neutrality. Moreover, in accordance with the heterogeneous panel causality test developed by Dumitrescu and hurlin (2012), NR, FP, HDI, and FT have been determined to have a unidirectional link with carbon neutrality. In regard to these findings, the research outlines a strategy designed to attain SDG 13 for the chosen nations. Decision-makers in these nations need to focus on policies that encourage the efficient use of natural resources. In addition, the chosen nations need to enhance their level of fintech to combat environmental degradation and achieve the targets of carbon neutrality.

Keywords: Carbon neutrality; Fintech; Natural resources; Advanced panel data models (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:98:y:2024:i:c:s0301420724007116

DOI: 10.1016/j.resourpol.2024.105344

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