The Effect of Fintech Innovation on Green Growth in Iran

Abstract

The green economy is a concept introduced in recent decades and has been defined as a framework for improving social welfare and justice by reducing environmental risks. Green growth has become the economic development strategy of many countries worldwide. In the meantime, FinTech can be effective in promoting green growth. Considering the development of FinTech in Iran, this article tries to examine the effect of the development of FinTech innovation on green growth in Iran. For this purpose, quarterly research data analysis was performed from 2013 to 2022 using the ARDL model. The results show that with a one percent expansion of FinTech services development, green growth will improve by 0.44 percent. FinTech innovation can reduce costs and improve the quality of financial services. It can also lead to green economic growth through green credit and green investment. Therefore, measures for systematization, integration, and synergy of Fintech services development to expand green investment and improve the environment can help improve green growth

Keywords

• financial technology
• green growth
• green economy
• iran