Financial Technology for Sustainable Development

Leong, Kelvin; Sung, Anna; Teissier, Cedric

doi:10.1007/978-3-319-95963-4_60

Cited by 7 publications

(6 citation statements)

References 56 publications

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“…Our research study emphasizes that new projects advanced by small and medium enterprises may benefit from the support of business angels and other similar investors that understand the importance of incentivizing entrepreneurial initiatives across the European Union. In addition, given that the latest advances in financial technology have been regarded as major drivers of sustainable economic growth [37][38][39], future research directions could focus on how this technology may facilitate the access of small and medium enterprises to numerous business opportunities.…”

Section: Discussionmentioning

confidence: 99%

Sources of SMEs Financing and Their Impact on Economic Growth across the European Union: Insights from a Panel Data Study Spanning Sixteen Years

et al. 2022

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Getting access to sufficient funding is the keystone for the development of any business, but especially for small and medium enterprises (SMEs). These economic entities are crucial players in the global economy since they include almost 90% of companies, provide jobs for nearly 50% of the global workforce, and enhance long-term economic growth. In this context, our study explores important sources concerning the financing of small and medium enterprises and their impact on economic growth during the period 2005–2020 with data from SMEs covering the 28 countries belonging to the European Union. The set of predictors included Strength of legal rights index, Days sales outstanding, Bad debt loss, Interest rate, Bank support, Business angels, Private lenders, and Public support. The set of dependent variables included Cost of loans, Equity fund, GDP growth rate, and Value added growth rate. Our methodological approach was complex, it considered a panel data analysis with a first-difference generalized method of moments estimator and a multiplex time series analysis. The novelty of the study resides in combining the two methods in order to investigate significant drivers of economic growth across the EU. Empirical results showed that economic growth was mainly triggered by predictors such as Interest rate, Business angels, Bank support, and Public support. Moreover, the valuable mathematical insights elicited by the multiplex time series analysis suggested that European economies cooperated intensively through SME activities. Based on our empirical results, national and regional authorities should enact adequate policies to support business endeavors of small and medium enterprises.

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Section: Discussionmentioning

confidence: 99%

Sources of SMEs Financing and Their Impact on Economic Growth across the European Union: Insights from a Panel Data Study Spanning Sixteen Years

et al. 2022

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“…By soliciting input from residents, cities can gain valuable insights into community preferences, priorities, and concerns related to environmental sustainability. For example, residents can report environmental hazards, such as pollution or waste accumulation, through mobile apps, enabling prompt action by municipal authorities to address these issues and improve environmental quality (Cai, Marrone & Linnenluecke, 2022, Leong, Sung & Teissier, 2021, Odorović, et. al., 2020.…”

Section: Enhancing Citizen Engagement and Participationmentioning

confidence: 99%

“…To bridge the digital divide, cities must invest in infrastructure development, provide affordable internet access, and offer digital literacy programs to empower all residents to access and utilize Fintech solutions. Additionally, cities must design inclusive and accessible digital platforms that accommodate diverse user needs, including those with disabilities or limited technological proficiency (Ikeda & Liffiton, 2019, Leong, Sung & Teissier, 2021. The regulatory and legal landscape presents another complex challenge for sustainable smart cities seeking to leverage Fintech solutions to promote environmental sustainability.…”

Section: Challenges and Considerationsmentioning

confidence: 99%

Sustainable Smart Cities: The Role of Fintech in Promoting Environmental Sustainability

Chinonye Esther Ugochukwu,

Onyeka Chrisanctus Ofodile,

Chinwe Chinazo Okoye

et al. 2024

Eng. sci. technol. j.

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Sustainable smart cities are at the forefront of urban development, striving to balance economic prosperity with environmental sustainability. This Review delves into the critical role played by Financial Technology (Fintech) in advancing environmental sustainability within smart city initiatives. Fintech innovations are instrumental in optimizing resource management, enhancing citizen engagement, and fostering collaborative governance models, thereby contributing to the overarching goal of creating sustainable urban ecosystems. Through a historical perspective, this Review traces the evolution of sustainable smart cities, highlighting the transformative impact of technological advancements and the integration of Fintech solutions. From early urban planning concepts to the emergence of smart technologies in the 21st century, the evolution of sustainable smart cities underscores the importance of leveraging innovation to address urban challenges. The rise of Fintech has further accelerated this evolution, offering innovative financial services tailored to support green finance, renewable energy investment, and sustainable infrastructure development. Fintech platforms enable efficient allocation of resources, facilitate transparent and secure transactions, and empower citizens to participate in sustainable initiatives. By integrating Fintech solutions into urban development strategies, cities can unlock new opportunities for environmental sustainability while fostering economic growth and social equity. Looking ahead, the integration of sustainable smart cities and Fintech holds immense potential to address pressing environmental challenges such as climate change, pollution, and resource depletion. As cities continue to embrace digital transformation and adopt data-driven approaches, the role of Fintech in promoting environmental sustainability will become increasingly crucial. By leveraging historical insights and embracing emerging technologies, cities can chart a path towards a more resilient, inclusive, and environmentally sustainable future. This Review underscores the importance of collaboration among stakeholders, including governments, businesses, academia, and civil society, to drive collective action and accelerate the transition towards sustainable smart cities. Keywords: Sustainable, Smart Cities, Fintech, Promoting, Environmental.

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“…They argued that digital financial innovations can support the development of blended finance for the creation of smart cities and promote secure financial services and bank transfers using digital financial instruments, products and services. Leong, Sung, and Teissier (2021) argued that partnership plays an important role in promoting Fintech initiatives for sustainable development. They showed that Fintech developments can enhance financial inclusion, improve lending decision-making, provide alternative investment opportunities, mobilize capital market funds, reduce transaction cost and improve fund transfer efficiency, toward achieving sustainable development.…”

Section: Theory Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Determinants of global interest in central bank digital currency: The role of sustainable development and cryptocurrency

Ozili

2023

DTS

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PurposeThis paper aims to investigate the determinants of global interest in central bank digital currency (CBDC). It assessed whether global interest in sustainable development and cryptocurrency are determinants of global interest in CBDC.Design/methodology/approachGoogle Trends data were analyzed using two-stage least square regression estimation.FindingsThere is a significant positive relationship between global interest in sustainable development and global interest in CBDC. There is a significant positive relationship between global interest in cryptocurrency and global interest in the Nigeria eNaira CBDC. There is a significant negative relationship between global interest in CBDC and global interest in the eNaira CBDC. There is a significant positive relationship between global interest in CBDC and global interest in the China eCNY. There is a significant negative relationship between global interest in cryptocurrency and global interest in the Sand Dollar and DCash.Originality/valueThe literature has not empirically examined whether global interest in sustainable development and cryptocurrency are factors motivating global interest in CBDC. This study fills a gap in the literature by investigating whether global interest in sustainable development and cryptocurrency are factors motivating global interest in CBDC.

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Financial Technology for Sustainable Development

Cited by 7 publications

References 56 publications

Sources of SMEs Financing and Their Impact on Economic Growth across the European Union: Insights from a Panel Data Study Spanning Sixteen Years

Sources of SMEs Financing and Their Impact on Economic Growth across the European Union: Insights from a Panel Data Study Spanning Sixteen Years

Sustainable Smart Cities: The Role of Fintech in Promoting Environmental Sustainability

Determinants of global interest in central bank digital currency: The role of sustainable development and cryptocurrency

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