<p>This study strives to examine the inter-relationships between Environmental Sustainability (ES) financial technology (FTEC), natural resource management (NRM), and renewable energy consumption (ENC) for Indian economy. The study employed Quantile Autoregressive Distributed Lag (QARDL) approach to discover the dynamic relationship among these variables across different quantiles. Data ranging from 1998 to 2022 were obtained from WDI database of the World Bank. The long-run and short-run estimation reveals that FTEC has a positive and statistically significant impact on ES. ENC consistently shows a positive and significant impact across most quantiles. Most importantly, in the short run, the Error Correction Term (ECT) is found negative and highly significant across all quantiles, confirming the presence of a long-run equilibrium relationship. The robustness of the study was check, through Wald test, symmetric quantiles test and Granger Causality test. The Wald Test and symmetric quantiles test showed asymmetrical connections between the variables. The results of the Granger Causality test reveal bidirectional causality between ES and FTEC, NRM, ENC and ECON across the quantiles. These results suggest a strong interdependence, where policies aimed at fostering environmental sustainability. The study offers valuable insights for policymakers and all the stakeholders involved in environmental and economic planning. This research not only bridges the gap between technology and sustainability but also presents a crucial assessment of how cohesive approaches can be utilized to achieve Environmental Sustainability goals.</p>

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Exploring Fintech, Energy and Environmental Sustainability Nexus: A QARDL Approach

  • Mohammad Kashif,
  • Ashulekha Gupta,
  • Veethika Gupta,
  • Shivam Krishn Agrawal

摘要

This study strives to examine the inter-relationships between Environmental Sustainability (ES) financial technology (FTEC), natural resource management (NRM), and renewable energy consumption (ENC) for Indian economy. The study employed Quantile Autoregressive Distributed Lag (QARDL) approach to discover the dynamic relationship among these variables across different quantiles. Data ranging from 1998 to 2022 were obtained from WDI database of the World Bank. The long-run and short-run estimation reveals that FTEC has a positive and statistically significant impact on ES. ENC consistently shows a positive and significant impact across most quantiles. Most importantly, in the short run, the Error Correction Term (ECT) is found negative and highly significant across all quantiles, confirming the presence of a long-run equilibrium relationship. The robustness of the study was check, through Wald test, symmetric quantiles test and Granger Causality test. The Wald Test and symmetric quantiles test showed asymmetrical connections between the variables. The results of the Granger Causality test reveal bidirectional causality between ES and FTEC, NRM, ENC and ECON across the quantiles. These results suggest a strong interdependence, where policies aimed at fostering environmental sustainability. The study offers valuable insights for policymakers and all the stakeholders involved in environmental and economic planning. This research not only bridges the gap between technology and sustainability but also presents a crucial assessment of how cohesive approaches can be utilized to achieve Environmental Sustainability goals.