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FinTech and CO2emission: evidence from (top 7) mobile money economies in Africa

Author

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  • Cephas Paa Kwasi Coffie
  • Frederick Kwame Yeboah
  • Abraham Simon Otim Emuron
  • Kwami Ahiabenu

Abstract

Purpose - The impact of FinTech in sub-Saharan Africa has primarily been limited to financial inclusion. Contrarily, this study aims to deviate from this norm to estimate how FinTech affects carbon emissions in the subregion. This provides policy recommendations for FinTech regulators, service providers and practitioners to consider optimal products and services that reduce carbon emissions. Design/methodology/approach - A balanced panel data set from 2009 to 2020 is used and estimated with the fully modified ordinary least squares estimator after checking for cross-sectional dependence, unit root, stationarity and cointegration. Findings - Results from the estimation suggest a negatively significant relationship between financial technology and carbon emissions in these countries. However, domestic credit to the private sector revealed a statistically insignificant relationship with carbon emissions for the same period. Further, foreign direct investment reduces carbon emissions but gross domestic product and trade openness increase carbon emissions in these countries. Originality/value - The impact of FinTech in sub-Saharan Africa has primarily been limited to financial inclusion. Contrarily, this study deviates from this norm and estimates how FinTech affects carbon emissions in the subregion.

Suggested Citation

  • Cephas Paa Kwasi Coffie & Frederick Kwame Yeboah & Abraham Simon Otim Emuron & Kwami Ahiabenu, 2024. "FinTech and CO2emission: evidence from (top 7) mobile money economies in Africa," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 33(1), pages 87-108, December.
    • Handle: RePEc:eme:jfrcpp:jfrc-05-2024-0089
    DOI: 10.1108/JFRC-05-2024-0089
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