Search Results (167)

This study investigates the impact and mechanisms of digital inclusive finance (DIF) on high-quality economic development in China. Drawing on panel data from 281 prefecture-level cities between 2011 and 2021, we employ a Spatial Durbin Model (SDM) to analyze both the direct effects and spatial spillovers of DIF. The results indicate that (1) DIF has a significantly positive effect on high-quality development, which remains robust after conducting various stability and endogeneity tests; (2) DIF strongly contributes to economic upgrading in eastern regions, while its impact is weaker or even negative in central and western regions, revealing notable regional disparities exist; (3) a key finding is the identification of a double-threshold effect, suggesting that the positive influence of DIF only emerges when financial and industrial development surpass certain thresholds; (4) results from the two-regime SDM further show that spillover effects are more prominent in non-central cities than in central ones; and (5) mechanism analysis reveals that DIF facilitates high-quality growth primarily by promoting industrial structure upgrading. These findings underscore the importance of region-specific policy strategies to enhance the role of DIF and reduce spatial disparities in development across China. Full article

Blockchain’s promise of decentralised, tamper-resistant services is gaining real traction in three arenas: decentralized finance (DeFi), blockchain gaming, and data-driven analytics. These sectors span finance, entertainment, and information services, offering a representative setting in which to study real-world adoption. This survey analyzes how each domain implements blockchain, identifies the incentives that accelerate uptake, and maps the technical and organizational barriers that still limit scale. By examining peer-reviewed literature and recent industry developments, this review distils common design features such as token incentives, verifiable digital ownership, and immutable data governance. It also pinpoints the following domain-specific challenges: capital efficiency in DeFi, asset portability and community engagement in gaming, and high-volume, low-latency querying in analytics. Moreover, cross-sector links are already forming, with DeFi liquidity tools supporting in-game economies and analytics dashboards improving decision-making across platforms. Building on these findings, this paper offers guidance on stronger interoperability and user-centered design and sets research priorities in consensus optimization, privacy-preserving analytics, and inclusive governance. Together, the insights equip developers, policymakers, and researchers to build scalable, interoperable platforms and reuse proven designs while avoiding common pitfalls. Full article

Blockchain technology is being increasingly deployed to store and process transactions and information in the global financial sector. Blockchain underpins cryptocurrencies such as Bitcoin and facilitates decentralized finance (DeFi), representing a paradigm shift in the global financial landscape, offering alternative solutions to traditional banking, and fostering financial inclusion. In developing economies such as Morocco, where a significant portion of the population remains unbanked, these digital financial innovations present both opportunities and challenges. This study examines the potential role of cryptocurrencies and DeFi in enhancing financial inclusion in Morocco, where cryptocurrencies have been banned since 2017. However, the public continues to use cryptocurrencies, circumventing restrictions, and the Moroccan Central Bank is now preparing to introduce new regulations to legalize their use within the country. In this context, this article analyses the potential of cryptocurrencies to mitigate barriers such as high transaction costs, restricted access to financial services in rural areas, and limited financial literacy in the country. The study pursues a mixed-methods approach, which combines a quantitative survey with qualitative expert interviews and adapts the Unified Theory of Acceptance and Use of Technology (UTAUT) model to the Moroccan context. The findings reveal that while cryptocurrencies offer cost-efficient financial transactions and improved accessibility, their adoption may be constrained by regulatory uncertainty, security risks, and technological limitations. The novelty of the article thus lies in its focus on the key mechanisms that influence the adoption of cryptocurrencies and their potential impact in a specific national context. In so doing, the study highlights the need for a structured regulatory framework, investment in digital infrastructure, and targeted financial literacy initiatives to optimize the potential role of cryptocurrencies in progressing financial inclusion in Morocco. This underscores the need for integrated models and guidelines for policymakers, financial institutions, and technology providers to ensure the responsible introduction of cryptocurrencies in developing world environments. Full article

This study investigates the convergence of blockchain, artificial intelligence (AI), near-field communication (NFC), and mobile technologies in electronic payment (e-payment) systems, proposing an innovative integrative framework to deconstruct the systemic innovations and transformative impacts driven by such technological synergy. Unlike prior research, which often focuses on single-technology adoption, this study uniquely adopts a cross-technology convergence perspective. To our knowledge, this is the first study to empirically map the multi-technology convergence landscape in e-payment using scientometric techniques. By employing bibliometric and thematic network analysis methods, the research maps the intellectual evolution and key research themes of technology convergence in e-payment systems. Findings reveal that while the integration of these technologies holds significant promise, improving transparency, scalability, and responsiveness, it also presents challenges, including interoperability barriers, privacy concerns, and regulatory complexity. Furthermore, this study highlights the potential for convergent technologies to unintentionally deepen the digital divide if not inclusively designed. The novelty of this study is threefold: (1) theoretical contribution—this study expands existing frameworks of technology adoption and digital governance by introducing an integrated perspective on cross-technology adoption and regulatory responsiveness; (2) practical relevance—it offers actionable, stakeholder-specific recommendations for policymakers, financial institutions, developers, and end-users; (3) methodological innovation—it leverages scientometric and topic modeling techniques to capture the macro-level trajectory of technology convergence, complementing traditional qualitative insights. In conclusion, this study advances the theoretical foundations of digital finance and provides forward-looking policy and managerial implications, paving the way for a more secure, inclusive, and innovation-driven digital payment ecosystem. Full article

Amid the global drive to enhance public sector performance in the digital economy era, improving government spending efficiency has become a critical governance objective. This study investigates the impact of digital inclusive finance on government spending efficiency from a digital finance systems perspective using county-level panel data in China’s Yangtze River Delta for the period 2014–2022 and constructing the fixed-effects model and instrumental variable method to estimate the effect of digital inclusive finance and explore its underlying mechanisms. Heterogeneity across regions with varying economic development levels is analyzed, and fiscal pressure is examined as a potential mediating factor. The results indicate that (1) digital inclusive finance significantly enhances government spending efficiency, primarily through broad service coverage and deep usage of digital financial services such as mobile payments, digital credit, and insurance; (2) the positive effect is more pronounced in counties with lower government spending efficiency and economic development; and (3) fiscal pressure acts as a key transmission channel, with broader digital inclusive finance coverage helping to alleviate fiscal stress and improve government spending efficiency. These findings offer empirical insights into the role of digital finance in promoting effective and adaptive public financial governance. Full article

Addressing the outflow of rural labor remains central to achieving inclusive and sustainable development in many emerging economies. This study investigates how rural e-commerce—encompassing both trade- and finance-oriented platforms—affects local employment dynamics. Drawing on panel data from 28 Chinese provinces between 2012 and 2020, we construct a composite index of rural e-commerce development and apply a two-way fixed-effects model to assess its impact on labor retention. Based on a nationwide regression analysis of Chinese survey data, we find that rural e-commerce significantly increases intra-county employment, with estimated effects robust across model specifications. Specifically, a one-unit increase in the e-commerce development index is associated with a 0.1 increase in the likelihood of local labor retention, significant at the 1% level. However, benefits are unevenly distributed: positive impacts are concentrated in eastern and central regions, while western provinces experience adverse effects, and northeastern areas show no significant change. These findings underscore the role of rural e-commerce as a driver of digital inclusion and local economic resilience, while also revealing structural barriers that hinder equitable access to its benefits. By identifying the enabling conditions, this study contributes to a more context-sensitive understanding of how platform economies can support spatially balanced and socially just rural development. Policies that promote rural e-commerce are thus likely to facilitate the local redeployment of rural labor. Full article

Sustainable mineral resource management is critical amid escalating environmental concerns and growing demand for minerals in digital and clean energy technologies. While financial technology (FinTech) has been widely recognized for enhancing financial inclusion and economic efficiency, its role in environmental governance—particularly in the mining sector—remains underexplored, especially within developed economies like the United States. This study addresses this gap by examining how FinTech adoption influences mineral sustainability, using time series data from 1998 to 2023. Four FinTech proxies—mobile cellular subscriptions, Internet usage, fixed broadband access, and financial inclusion—were analyzed alongside environmental compliance and investment in sustainable mining technologies. Using the Autoregressive Distributed Lag (ARDL) model and Frequency Domain Causality (FDC) analysis, the results show that greater FinTech adoption significantly reduces mineral depletion rates, indicating improved sustainability. Internet and broadband access exhibit strong long-term impacts, while mobile connectivity and credit access show notable short- and medium-term effects. Investment in sustainable mining technologies further enhances these outcomes. Our findings suggest that FinTech serves as a multidimensional enabler of sustainability through digital inclusion, transparency, and access to green financing. This study provides empirical evidence to guide policymakers in integrating digital financial infrastructure into strategies for sustainable mineral resource governance. Full article

This study explores the transformative role of financial technology (fintech) in advancing sustainability, financial inclusion, and customer engagement in Jordan’s banking sector. Utilizing a quantitative descriptive survey design, data were collected from 400 participants—comprising 300 bank customers and 100 banking professionals—through a structured bilingual questionnaire distributed via digital platforms. The study aims to evaluate how fintech innovations align with sustainable finance practices, extend banking access to underserved populations, and influence customer satisfaction. The results reveal strong evidence of fintech’s positive impact across all three domains. Regression analysis confirmed a statistically significant relationship between fintech innovation and the adoption of sustainable finance practices (β = 0.6498, p < 0.001), explaining 42.2% of the variance in sustainability outcomes. Similarly, fintech adoption was found to significantly improve financial inclusion among underserved populations (β = 0.6842, p < 0.001), accounting for 46.85% of the variance in access to services. One-way ANOVA analysis further showed that increased fintech integration significantly enhances customer engagement, with mean satisfaction scores rising progressively with higher fintech usage levels (F = 24.49, p < 0.001). The study underscores that fintech is a critical enabler of ethical banking transformation in Jordan, promoting ESG objectives, reducing financial access disparities, and strengthening customer loyalty. The findings confirm that fintech significantly contributes to sustainable, inclusive, and customer-centric banking practices. These insights support the notion that fintech adoption not only redefines banking operations but also charts a sustainable and socially responsible future for the Jordanian financial sector. Full article

The increasingly observable financial vulnerability of households in emerging market countries makes it imperative to investigate the factors influencing it. Considering that China stands as a representative of emerging market economies, analyzing the factors influencing household financial vulnerability in China presents great reference significance for the sustainable development of households in emerging market countries. Using data from the China Household Finance Survey (CHFS) household samples, this paper presents the regional distribution of households with financial vulnerability in China. Utilizing machine learning (ML), this research examines the factors that influence household financial vulnerability in China and determines the most significant ones. The results reveal that households with financial vulnerability in China takes up a proportion of more than 63%, and household financial vulnerability is lower in economically developed coastal regions than in medium and small-sized cities in the central and western parts of China. The analysis results of the SHAP method show that the debt leverage ratio of a household is the most significant feature variable in predicting financial vulnerability. The ALE plots demonstrate that, in a household, the debt leverage ratio, the age of household head, health condition, economic development and literacy level are significantly nonlinearly related to financial vulnerability. Heterogeneity analysis reveals that, except for household debt leverage and insurance participation, the key characteristic variables exerting the most pronounced effect on financial fragility differ between urban and rural households: household head age for urban families and physical health status for rural families. Furthermore, digital financial inclusion and social security exert distinct impacts on financial vulnerability, showing significantly stronger effects in high per capita GDP regions and low per capita GDP regions, respectively. These findings offer valuable insights for policymakers in emerging economies to formulate targeted financial risk mitigation strategies—such as developing household debt relief and prevention mechanisms and strengthening rural health security systems—and optimize policies for household financial health. Full article

Climate risk has emerged as a pressing global challenge, significantly undermining livelihood capital, income stability, and living standards among vulnerable populations. Leveraging balanced panel data from the China Household Finance Survey (CHFS) spanning 2013–2019, this study employs a binary Logit fixed-effects model to examine how climate change risk affects farm households’ multidimensional relative poverty, with particular attention to the moderating role of digital financial inclusion. The findings demonstrate that climate change risk significantly exacerbates multidimensional relative poverty among farm households, while digital inclusive finance effectively mitigates these adverse impacts. Notably, subdimensional analysis reveals that the depth of digital financial usage exerts the strongest influence. In addition, there is heterogeneity in this moderating effect, with digital inclusive finance having a more significant mitigating effect on multidimensional relative poverty in rural households in the central region, with middle and higher incomes, as well as with high digital literacy. This study provides valuable insights into the use of financial instruments to mitigate climate risks, improve the climate resilience of rural populations, and strengthen multidimensional approaches to poverty governance. Full article

Climate policy uncertainty (CPU) poses formidable challenges to global sustainable development and corporate strategic planning, while intelligent transformation is emerging as a pivotal enabler of organizational sustainability. Using panel data from Chinese A-share listed companies between 2011 and 2022, this study investigates the impact of climate policy uncertainty on intelligent transformation. The results indicate that CPU significantly promotes corporate intelligent transformation, a conclusion that remains robust under various sensitivity tests. Government innovation subsidies, enterprise absorption capacity, and enterprise human capital positively moderate this facilitating effect. A heterogeneity analysis reveals that the effect of CPU on intelligent transformation is more pronounced among firms in sci–tech finance pilot zones, regions with high digital financial inclusion, and those led by CEOs with banking experience. This paper contributes to the literature on climate policy uncertainty by examining its role in corporate intelligent transformation, offering actionable strategies for firms to mitigate climate risks while providing policy insights for developing economies to leverage smart technologies in addressing CPU. Full article

In alignment with China’s carbon peak and carbon neutrality commitments, digital inclusive finance (DIF) has emerged as a strategic instrument for carbon emission mitigation, facilitated by coordinated policy interventions and market-driven innovations. This study conducted an original multi-dimensional investigation into DIF’s carbon intensity reduction effects through an integrated analytical framework. Employing two-way fixed effects and mediation analysis models, we systematically evaluated both direct impacts and green-credit-mediated pathways using panel data across 247 Chinese cities from 2011 to 2020. A dynamic Spatial Durbin model further elucidated the spatiotemporal evolution of DIF’s spatial spillover effects. It was found that DIF development can reduce the carbon intensity of cities, and in particular, this phenomenon shows different effects in different types of cities. Green credit mechanisms effectively mediate their effects in the decarbonization process of DIF, confirming their key role in financial intermediation. In addition, DIF has a strong cross-regional spatial spillover effect, and its carbon emission reduction impact transcends local administrative jurisdictions. The results of this study will provide valuable insights and practical recommendations for policymakers and stakeholders to develop effective carbon reduction strategies that contribute to sustainable development in China and globally. Full article

Women in emerging economies face unique constraints rooted in cultural norms, socio-economic disparities, and limited access to education and technology. Narrowing the digital gender gap by ensuring access to financial services may reduce the economic inequalities for women in these countries. This study examines the influence of digital finance in narrowing the gender gap, guided by the research question: To what extent do digital financial services contribute to narrowing the gender gap in access to and usage of financial services in low-and middle-income economies? Gender inclusion was measured by the ratio of accounts owned by women over the total number of accounts. Digital financial inclusion was constructed based on eight components: mobile money account, storing money in financial institutions, Internet access, mobile phone owned, savings, savings in financial institutions, making or receiving a digital payment, and mobile phone or use of the Internet for shopping. A Bayesian regression approach was computed using the Global Findex Database data for 73 countries classified as low and lower-middle-income economies from 2011 to 2022. The Machine Learning approach evaluates the model’s ability to predict women’s autonomy and the role of digital finance. The results show that digital financial services would reduce the gender gap in low-income economies while augmenting the number of open accounts, especially for women. The results aid in the establishment of policies to reduce the gender gap. These results are relevant to the UNSDG agenda, mainly Goal 5 and Goal 10. Full article

The application of digital inclusive finance in various industries, particularly in rural areas, is gaining significant attention. The traditional agricultural sector, which focuses on rural labor economics (RLE), is more sensitive to financial innovations due to geographical and other constraints. This paper investigates how digital inclusive finance affects RLE by integrating the Improved Gravitational Search Algorithm Random Forest (IGSA-RF) with the Gini coefficient, Out-of-Bag (OOB) coefficient, and the Gini-OOB coupling coefficient. Focusing on Jiangsu Province, China, this study uses rural labor economic indicators to examine the underlying influence mechanisms of digital finance on labor dynamics in rural regions. The findings suggest that (1) digital inclusive finance has a long-term positive impact on consumption, gross regional product, and the average wage index of rural workers; (2) there is a growing trend in agricultural machinery power over time. However, the study found that gender, age, and the development of labor-intensive industries did not show significant improvement. The study provides a data-driven framework for understanding and enhancing rural labor development through digital financial innovation. Full article

Digital inclusive financial services are an important external force driving the common prosperity of Chinese farmers, while the sustainable development of household livelihoods is an internal guarantee for their common prosperity. The synergistic interaction between internal and external factors is an inherent requirement for promoting the common prosperity of farmers. Based on survey data from 467 households in Zhejiang Province, China, this study incorporates a qualitative comparative analysis method into a sustainable livelihood framework, establishing five antecedent variables and conducting necessity and sufficiency analysis. It has been found that single-factor conditions are not necessary for the common prosperity of farmers. However, the combination of digital inclusive financial services, household livelihood strategies, modern agricultural development, and rural governance conditions can generate multiple equivalent pathways to promote the common prosperity of farmers. These pathways include the synergistic path between digital inclusive finance and the business-based livelihood strategy, the synergistic path of digital inclusive finance, modern agricultural development, and business-based livelihood strategies, and the synergistic path of digital inclusive finance and rural governance for business-based livelihood strategies. In addition, digital inclusive financial services are identified as the core condition influencing common prosperity among farmers, while livelihood capital serves as a supporting condition for promoting their common prosperity. Rural governance and modern agricultural conditions have a substitutive effect on the impact of digital inclusive finance on common prosperity. Full article