Analysing the Effects of Natural Resource Utilization, Biodiversity, and Globalization: The Role of Fintech in Sustainable Financing

Huachun Dong; XinJiao Xiang; Zaibo Xie

doi:10.5755/j01.ee.37.2.42083

Authors

Huachun Dong School of Economics and Management, Guangzhou Institute of Science and Technology, China
XinJiao Xiang Eurasian School of Science & Technology, Nanning Normal University, China; International College Bansomdejchaopraya Rajabhat University, Thailand
Zaibo Xie Office of International Affairs and ASEAN Network, Bansomdejchaopraya Rajabhat University, Thailand

DOI:

https://doi.org/10.5755/j01.ee.37.2.42083

Keywords:

Fintech, Sustainable finance, Biodiversity, Natural Resource Utilization, Globalization, Thailand

Abstract

This research attempted to provide insights regarding the role of Fintech, globalization, natural resource utilization and biodiversity in sustainable finance in the context of Thailand. For this purpose, data for Thailand spanning over 2000 to 2024 period is analysed using Quantile Autoregressive Distributed Lag (QARDL) technique. The outcomes indicated that in the long run, none of the selected determinants is significantly associated with sustainable finance. But, in the short run, Fintech is significantly and positively associated with sustainable finance. Similar to this outcome, biodiversity is also significantly linked with carbon finance and it was demonstrated that rising levels of biodiversity increased carbon finance. Likewise, globalization and natural resource utilization are significantly and positively associated with sustainable finance in the long-run. Lastly, the short-run analysis confirmed the convergence to equilibrium with a negative and significant error correction term. The outcomes presented in the study demand policy response in Thailand to enhance sustainable financing. Along with policy recommendations, the study offers insights and recommendations that can be utilized by future researchers to advance the research in Thailand.

Author Biographies

Huachun Dong, School of Economics and Management, Guangzhou Institute of Science and Technology, China

Huachun Dong is affiliated with the School of Economics and Management at Guangzhou Institute of Science and Technology, Guangzhou, China. His academic interests lie in the fields of economics, business management, and organizational studies, with a particular focus on contemporary issues in economic development and management practices. ORCID: 0009-0004-0303-8175.
XinJiao Xiang, Eurasian School of Science & Technology, Nanning Normal University, China; International College Bansomdejchaopraya Rajabhat University, Thailand

XinJiao Xiang is affiliated with the Eurasian School of Science & Technology, Nanning Normal University, Nanning, China, and the International College of Bansomdejchaopraya Rajabhat University, Bangkok, Thailand. Her academic interests focus on economics, business management, and international education, with particular emphasis on cross-border collaboration, sustainable development, and emerging market dynamics. ORCID: 0009-0002-3276-0859.
Zaibo Xie, Office of International Affairs and ASEAN Network, Bansomdejchaopraya Rajabhat University, Thailand

Zaibo Xie is affiliated with the Office of International Affairs and ASEAN Network, Bansomdejchaopraya Rajabhat University, Bangkok, Thailand. His academic and research interests are centered on business management, international trade, and cross-cultural studies, with a particular focus on the dynamics of global markets and regional economic development. ORCID: 0009-0002-0486-3471.