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In: Digital Economy, Energy and Sustainability: Opportunities and Challenges
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 02, 2023 erstellt
Description:
This paper analyses the association between financial inclusion and environmental sustainability. The study uses Pearson correlation analysis to analyse the association between financial inclusion and environmental sustainability. The level of financial inclusion was measured using two supply-side financial inclusion indicators: the number of ATMs per 100,000 adults and the number of commercial bank branches per 100,000 adults. Environmental sustainability was measured using two indicators: the environmental policy stringency index and the environmentally adjusted multifactor productivity growth index. The study finds that financial inclusion is positively correlated with environmental sustainability particularly in non-EU countries. The result implies that financial inclusion programs and efforts in non-EU countries complement environmental sustainability efforts toward achieving the United Nations sustainable development goals (SDGs). The findings also reveal a significant and negative association between environmental policy stringency and environmentally adjusted multifactor productivity growth particularly in EU member-countries and European countries, implying that strict environmental protection policies may harm green growth in EU and European countries