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The Impact of Green Finance, FinTech and Digital Economy on Environmental Sustainability: Evidence from Advanced Panel Techniques

Author

Listed:
  • Abdulhadi Ibrahim

    (Business Faculty, A’sharqiyah University, Ibra, Oman)

  • Nashat Ali Almasria

    (Business Faculty, A’sharqiyah University, Ibra, Oman)

  • Faozi A. Almaqtari

    (Business Faculty, A’sharqiyah University, Ibra, Oman)

  • Omar Al-Kasasbeh

    (Faculty of Business, Amman Arab University, Amman, Jordan)

  • Zaidoon Alhatabat

    (Faculty of Business, Arab Open University, Amman, Jordan)

  • Diala Ershaid

    (Faculty of Business, Arab Open University, Amman, Jordan)

Abstract

Improving environmental sustainability is a crucial priority for economies to further global progress. The United Nations General Assembly has proposed enhancing environmental sustainability by adopting the SDG-7 recommendations. This study investigates the effect of green finance, fintech and digital economy on environmental sustainability utilizing panel data between 2013 and 2023 in Middle Eastern countries: Saudi Arabia, Turkey, Kuwait, United Arab Emirates and Qatar. For the analysis, panel unit root test, panel cointegration test and Pairwise Dumitrescu-Hurlin panel Causality tests were done. Our empirical results show that cointegration is among the variables that were analyzed. Green finance, digital economy, and FinTech are closely interrelated. The outcomes may provide helpful knowledge regarding the development of environmental sustainability. Policymakers are recommended to formulate feasible and energy system-compatible policies to provide green funding to the energy systems of Middle Eastern countries with maximum convenience.

Suggested Citation

  • Abdulhadi Ibrahim & Nashat Ali Almasria & Faozi A. Almaqtari & Omar Al-Kasasbeh & Zaidoon Alhatabat & Diala Ershaid, 2024. "The Impact of Green Finance, FinTech and Digital Economy on Environmental Sustainability: Evidence from Advanced Panel Techniques," International Journal of Energy Economics and Policy, Econjournals, vol. 14(6), pages 621-627, November.
    • Handle: RePEc:eco:journ2:2024-06-61
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    References listed on IDEAS

    as
    1. Omar Alkasasbeh & Ohoud Khasawneh & Amro Alzghoul, 2023. "The Nexus between Renewable Energy Consumption and Economic Growth: Empirical Evidence from Jordan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(2), pages 194-199, March.
    2. Nashat Ali Almasria & Hassan Hamad Aldboush & Omar Al-Kasasbeh & Abdalwali Lutfi & Fadya Burhan Alhajahmad & Thamir Al Barrak & Ghaith Alsheikh, 2024. "Oil Price Volatility and Economic Growth: Evidence from the Middle East," International Journal of Energy Economics and Policy, Econjournals, vol. 14(3), pages 417-421, May.
    3. Fahd Alduais & Jafer Alsawalhah & Nashat A. Almasria, 2023. "Examining the Impact of Corporate Governance on Investors and Investee Companies: Evidence from Yemen," Economies, MDPI, vol. 11(1), pages 1-25, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Digital Economy; FinTech; Environmental Sustainability; Middle East;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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