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Exploring the impacts of financial technologies and natural resources on sustainable development to advance SDGs-2030 across various time horizons

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  • Zhu, Xiaoge
  • Saha, Tanaya
  • Chishti, Muhammad Zubair
  • Xu, Qi

Abstract

In order to facilitate the achievement of Sustainable Development (SD), numerous studies have identified a range of determinants. However, the role of advanced financial technologies (FinTech) in achieving SD has received less attention. This recent study builds upon previous literature by examining the impact of financial technologies alongside natural resources and green technologies on three Sustainable Development indicators across different time frames. The study employs daily data and uses advanced econometric tools such as heatmap-based QVAR, CAViaR-QVAR, and quantile coherence methods. The findings demonstrate significant connectedness among the selected markets over various time horizons, as the QVAR method indicates. Moreover, the CAViaR-QVAR approach reveals directional interconnectedness both within and between these series, suggesting they function as both influencers and recipients of impact. This is particularly evident during major events like the COVID-19 pandemic and the Ukraine-Russia conflict. Further, the study investigates the marginal effects of financial technologies, natural resources, and green technologies on SD. In the short and medium term, the effects of these variables are mixed, indicating a complex relationship. However, in the long term, these mixed effects tend to align positively across different frequency domains, highlighting the beneficial influence of these factors on SD. The study underscores the nonlinear nature of the series, reinforcing the necessity of advanced econometric tools for robust and comprehensive analysis. These insights are crucial for developing informed policy recommendations and represent a significant departure from traditional linear methodologies.

Suggested Citation

  • Zhu, Xiaoge & Saha, Tanaya & Chishti, Muhammad Zubair & Xu, Qi, 2024. "Exploring the impacts of financial technologies and natural resources on sustainable development to advance SDGs-2030 across various time horizons," Resources Policy, Elsevier, vol. 91(C).
    • Handle: RePEc:eee:jrpoli:v:91:y:2024:i:c:s0301420724002198
    DOI: 10.1016/j.resourpol.2024.104852
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