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An Integrated Perspective on Fintech, Natural Resource Rent and Sustainable Development: Evidence From BRICS Economies

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Natural Resources Forum

Published online on

Abstract

["Natural Resources Forum, EarlyView. ", "\nABSTRACT\nThe sustainable development of the BRICS nations is a critical global concern. As emerging economies, the BRICS countries play a significant role in shaping the world's future. Understanding the factors influencing their sustainable development is essential for policymakers and researchers to enable nations to grow together and deal with global uncertainties. This study investigates the impact of financial technology on the sustainable development of the BRICS nations. Using panel data from 2000 to 2022, we employ the Method of Moments Quantile Regressions to analyse the relationships between financial institutions' efficiency, research and development investments, and sustainable development. To substantiate our findings, we conduct robustness checks using Dynamic Ordinary Least Squares and Fully Modified Ordinary Least Squares tests. We control for total natural resource rent and gross domestic product as additional factors influencing sustainable growth. Our results consistently demonstrate that financial institution efficiency and R&D expenditure positively influence sustainable development, while increasing natural resources rent has a negative impact. These findings highlight the importance of diversifying economies and promoting innovation in the BRICS countries to achieve sustainable development.\n"]