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Doctoral Thesis
FinTech for Sustainable Development: An Empirical Study
Doctor of Philosophy (PhD), Murdoch University
2025
Abstract
Financial technology (FinTech) and sustainability are important areas of focus in recent years. FinTech is transforming the global business and financial landscape, while sustainable development focuses on reshaping our world into a better place in all aspects. Drawing on the Theory of Financial Intermediation and Stakeholder Theory, this study integrates these two contemporary issues to empirically examine the impact of FinTech on sustainable development within the framework of the United Nations' Sustainable Development Goals (SDGs). Three hypotheses are formulated based on the three sustainable development aspects: financial, economic, and environmental sustainability. Financial sustainable development encompasses inclusive finance, measured by access to formal banking and the Financial Institution Index. Economic sustainability is captured through economic growth, poverty alleviation, and income inequality reduction. The sustainable development aspect of the environment involves carbon emission reduction. In this study, digital commerce payments, digital remittances, and mobile point-of-sale payments are employed as indicators representing the FinTech construct. Empirical analysis employs panel data regressions with robust testing and endogeneity controls, using six years of panel data (2017–2022) from 149 countries. Sub-sample analyses based on countries' income levels are conducted to provide nuanced insights. The findings indicate that FinTech significantly contributes to sustainable development by promoting financial inclusion, fostering economic growth, alleviating poverty, reducing income inequality, and lowering carbon emissions. However, the magnitude of these effects varies depending on a country’s level of development. The study offers policy recommendations aligned with specific SDG targets and tailored to each country’s economic conditions.
Details
- Title
- FinTech for Sustainable Development: An Empirical Study
- Authors/Creators
- Mohammad Morshadul Hasan
- Contributors
- Ariful Hoque (Supervisor) - Murdoch University, College of BusinessKamrul Hassan PhD (Curtin, WA), AFHEA (Supervisor) - Murdoch University, College of BusinessThi Le (Supervisor) - Murdoch University, College of Business
- Awarding Institution
- Murdoch University; Doctor of Philosophy (PhD)
- Identifiers
- 991005811150107891
- Murdoch Affiliation
- Murdoch Business School
- Resource Type
- Doctoral Thesis
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