Search Results (306)

This paper applies a hybrid multi-criteria decision-making (MCDM) model that integrates the Analytic Hierarchy Process (AHP) for structured weighting of evaluation criteria with the Net Worth Analysis (NWA) method for value-based aggregation of scores. The proposed framework was employed to evaluate Learning Management Systems (LMS) in higher education, involving two independent expert panels representing management and IT perspectives. Results of the AHP analysis show that cost (28%), security (22%), and usability (17%) are the most influential criteria in the decision-making process, reflecting institutional priorities for financial efficiency, safety and ease of use. Based on the combined AHP-NWA model, Moodle 4.3 emerged as the most sustainable choice (0.586), followed by Atutor 2.2.1 (0.541) and Blackboard (SaaS edition) (0.490). The inclusion of sensitivity and scenario analyses confirmed the robustness of the model, demonstrating that the ranking of alternatives remains stable under variations in weighting factors and different strategic priorities. By framing LMS evaluation within the context of sustainable digital transformation, the study emphasizes how transparent and systematic decision-making supports long-term institutional resilience and aligns with the principles of Education for Sustainable Development (ESD). In addition, the framework contributes to the achievement of Sustainable Development Goal 4 (Quality Education), by guiding higher education institutions toward inclusive, resilient and cost-effective digital solutions. Full article

While the inclusiveness of digital finance is widely acknowledged, existing research predominantly focuses on its developmental level, with limited attention to its spatial correlation network and structural characteristics. A city’s centrality within this network governs the flow and allocation of digital financial resources, thereby influencing interregional and urban-rural efficiency in resource allocation and income distribution, which ultimately shapes the trajectory of common prosperity. Based on panel data from 280 Chinese cities (2011–2021), this study employs social network analysis to measure urban centrality in the digital financial spatial correlation network and empirically investigates its impact and mechanisms on common prosperity. The main findings are as follows: (1) Benchmark regressions confirm that overall network centrality and its three dimensions—degree, betweenness, and closeness centrality—significantly promote common prosperity, specifically by enhancing the “wealth” dimension and reducing regional development disparities, with the growth effect currently surpassing the inclusion effect. (2) Robustness checks, including instrumental variable approaches addressing endogeneity, affirm the reliability of the core findings. (3) Heterogeneity analysis reveals that the positive effect is more pronounced in cities that are less developed or have weaker financial foundations, such as those in Western China, non-financial centers, cities with no presence of formal financial institutions in antiquity, fifth-tier cities, and small and medium-sized cities, suggesting that network centrality serves as a catalytic tool for urban catch-up strategies. (4) Mechanism analysis identifies that fostering entrepreneurship, particularly among self-employed individuals and wholesale/retail enterprises characterized by decentralized operations and abundant transaction data, is the primary channel through which centrality advances common prosperity. This study provides insights into promoting balanced regional development and common prosperity by optimizing the spatial structure of digital finance. Full article

FinTech-based lending has rapidly expanded in emerging economies, offering convenience and inclusion but also raising concerns about over-indebtedness. In Indonesia, the surge of digital loans has been accompanied by growing signs of risky borrowing behavior, including late payments, high debt-to-income ratios, and poor credit discipline. This study investigates the determinants of individuals’ propensity to indebtedness in FinTech-based loans, focusing on the influence of financial behavior biases, emotions, culture, and materialism, as well as the moderating effects of financial literacy, job security, and religiosity. Data were collected from 400 Indonesian civil servants and private/self-employed workers through an online questionnaire and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Results show that all proposed determinants significantly increase indebtedness, with financial behavior biases having the strongest impact. Financial literacy and job security amplify these effects, while religiosity weakens the influence of emotions and materialism. These findings contribute to behavioral finance theory and underscore the importance of promoting financial literacy, strengthening job stability, and integrating responsible lending policies to mitigate debt risks in emerging economies. Full article

Digital finance, representing the deep integration of finance and technology, has become a critical enabler of sustainable industrial transformation. Focusing on resource-based enterprises (RBEs)—key actors in transitioning towards sustainable practices—this study investigates how digital finance development fosters new quality productive forces (NQPFs), a core driver of high-quality, sustainable development. Utilizing panel data from Chinese A-share listed RBEs (2008–2022), we measure NQPF using the entropy method and gauge regional digital finance development with the Peking University Digital Financial Inclusion Index (DFII). Empirical analysis employing two-way fixed effects and panel threshold regression models provides robust evidence that digital finance significantly enhances NQPFs within RBEs. Crucially, mechanism analysis identifies three fundamental pathways underpinning sustainability: (1) mitigating financial constraints; (2) facilitating technological innovation and transformation; (3) strengthening green transition awareness. Furthermore, the impact of digital finance exhibits synergistic enhancement alongside increasing environmental regulation intensity and improved financial resource allocation efficiency. Heterogeneity analysis reveals that the effect is more pronounced in regions with lower marketization, within state-owned enterprises, and among RBEs in recession stages. Collectively, these findings offer significant implications for policymakers and industry practitioners aiming to strategically leverage digital finance to accelerate the sustainable transformation of resource-intensive industries, thereby contributing directly to environmentally sustainable and resilient economic development. Full article

Artificial Intelligence (AI) is increasingly central to sustainable development, yet its advancement varies across G7 economies. This study employs Method of Moments Quantile Regression (MMQR) to examine how Financial Technology (FinTech), Economic Growth (EG), Human Capital (HC), and Renewable Energy Consumption (RENC) influence AI development in G7 countries from 2000 to 2022. By analyzing heterogeneous effects across quantiles, the study captures stage-specific drivers often overlooked in average-based models. Results indicate that FinTech and human capital significantly promote AI adoption in lower and middle quantiles, enhancing digital inclusion and innovation capacity, while RENC becomes relevant primarily at advanced stages of AI adoption. Economic growth exhibits negative or inconsistent effects, suggesting that GDP expansion alone is insufficient for technological transformation without alignment to supportive policies and institutional contexts. The lack of long-run cointegration further highlights the dominance of short- and medium-term dynamics in shaping the AI–sustainability nexus. These findings provide actionable insights for policymakers, emphasizing targeted FinTech development, skill-building initiatives, and renewable-powered AI solutions to foster sustainable and inclusive AI adoption. Overall, the study demonstrates how financial, human, and environmental factors jointly drive AI development, offering a mechanism-based perspective on technology-driven sustainable development in advanced economies. Full article

Monetary policy and central banks faced significant challenges in recent decades, like the Great Recession and the 2008–2009 financial crisis, and the Global Inflation Surge of 2021–2022. The introduction of blockchain technology triggered major financial innovations. Nevertheless, the adoption of digital currencies and stablecoins in particular has been limited and does not have wide and everyday use, like national currencies. To understand non-national currency usage better, we examine free banking in Scotland and the U.S., and specifically note issuance. Lessons from these periods suggest the importance of reserves and coordination mechanisms. Based on these free banking cases, we propose that banks and corporations should have the freedom to issue their own stablecoins. More specifically, we examine the freedom for regulated banks to issue their own stablecoins in a competitive environment, learning from historical precedents how to manage such a system. Free banking stablecoins could provide significant benefits, especially in countries with unstable monetary systems, like emerging economies. Such benefits can range from better monetary policy, inflation targeting, and stability, to a broader range of innovative financial markets and services that can contribute towards entrepreneurship, investments, and economic development. Citizens, entrepreneurs, and domestic and foreign investors can gain from these benefits. At the same time, the banking sector and financial institutions can maintain an important role and further expand and develop by offering innovative financial services in an evolving and challenging environment due to financial technology and disintermediation. Finally, governments and central banks could also benefit from increased financial inclusion, higher economic growth and development, but also from more competition and financial stability, and from financial innovation and technology services. Full article

The constant evolution of Decentralized Finance (DeFi) calls for the continuous monitoring of its developments and implications through a critical review of the academic literature. While DeFi holds promise for enhancing economic activity by expanding market access for enterprises and promoting financial inclusion, concerns remain that digital assets are primarily used for speculative purposes rather than for financing the real economy. This study employs bibliometric methods to investigate whether and how the current academic literature addresses the potential influence of DeFi on real economic dynamics. Employing bibliometric methods—including co-citation, bibliographic coupling, and keyword co-occurrence analyses—focused on DeFi-related publications in the Economics and Business subject areas within the Scopus database, the study maps the knowledge base, author networks, and thematic trends and their temporal evolution, supporting regulators, researchers, and practitioners. The findings reveal that the integration of DeFi with the real economy has received limited attention in scholarly research. This highlights the need for further investigation into DeFi’s implications for financial stability, productive investment, and long-term economic growth. Full article

In this study, we review recent research on how digital payment technologies (DPTs) promote financial inclusion (FI) across the world. Drawing on empirical studies from the past decade, we show that digital payment systems have helped reduce financial exclusion—particularly in developing economies—by expanding access to essential financial services for underserved groups. The paper also highlights the role of demographic factors such as age and gender, with evidence of higher adoption among youth and women. We identify the main indicators used to measure digital payment adoption and FI, providing a foundation for future empirical analysis. To deepen understanding, we call for combining macroeconomic data with rigorous econometric approaches to better capture how DPTs contribute to inclusive financial systems. The paper further discusses how emerging innovations—including blockchain, artificial intelligence, cloud computing, and biometric authentication—are improving the efficiency, security, and accessibility of digital payments. Together, these technologies are likely to accelerate the transition toward fully digital financial ecosystems and expand the potential for inclusive and sustainable growth. Full article

This entry explains how China’s e-CNY, the retail form of its Central Bank Digital Currency, translates three design choices into improved access, affordability, and reliability: (1) enabling wallet-to-wallet payments on the CBDC ledger with settlement upon payment (SUP); (2) ensuring seamless integration at checkout with existing QR-code systems and popular payment apps; and (3) providing users with practical control through credentials stored on their devices and managed by licensed operators. With payment finality clarified in law and a two-tier structure in place, offline payments can shift to a hybrid architecture. It blends account- and token-based functionality across online and offline settings, incorporates tiered identity verification, and supports low-cost solutions. In essence, e-CNY demonstrates that strategic decisions regarding settlement, interoperability, and user control can expand financial inclusion while maintaining robust regulatory safeguards. Full article

Building Information Modeling (BIM) has established itself as a strategic and indispensable tool for designing and implementing smart buildings within the context of smart cities. This study explores the potentialities and challenges of using BIM across the main stages of the smart building lifecycle: design, construction, and operation and maintenance. We conducted comprehensive, detailed, and interpretative literature research to extract the main concepts and knowledge, enabling us to identify the main potentialities and challenges and classify them by life-cycle phase for smart buildings. Potentialities and challenges were prioritized based on the number of projects that cited them. The inclusion criteria for identifying potentialities and challenges were based on their key attributes: significant impact, information modeling potential, integration capability with other tools and methods, and improved performance in processes and services across all life cycle phases and BIM dimensions. The findings reveal that the main potentials include optimizing information management, reducing operating costs, enhancing environmental sustainability, and enhancing decision-making processes. Furthermore, the study highlights BIM’s role in integrating technologies such as IoT, augmented reality, and energy simulations, contributing to the development of more sustainable and functional buildings. However, challenges to its full adoption persist, including financial constraints, interoperability issues between systems, a lack of specialized technical skills, and organizational resistance to change. The dependence on advanced technological infrastructure and robust connectivity poses an additional challenge, especially in developing countries, where such resources may be scarce or inconsistent. Finally, this study suggests that future research should explore the integration of BIM with emerging technologies, such as artificial intelligence and digital twins, further expanding its applicability in the smart urban context. Full article

Background: During the COVID-19 pandemic, transgender and gender-diverse (TGD) people and people with disabilities in India faced disproportionate barriers to accessing vaccination services. Building on previous studies, this study explored the experiences of COVID-19 vaccine access in these two marginalized communities, using the WHO Behavioral and Social Drivers (BeSD) framework. Methods: Keeping community-based participatory methods (CBPR) at heart, we conducted a survey adapted from the BeSD COVID-19 survey tool. The survey was adapted using insights from a prior study, a literature review, stakeholder consultations, and discussions with a community leadership group (CLG) and an advisory board (AdB). Participants were recruited through transgender, gender-diverse, and disability rights networks. Data were analyzed descriptively, using percent analysis, and psychometrically, using exploratory factor analysis on polychoric correlations. Results: The adapted BeSD survey tool showed a high 0.85 (p < 0.05) internal consistency and criterion validity. Moreover, it showed a high willingness to be vaccinated (for ease of access to other services and community responsibility); however, systemic barriers hindered vaccination access. TGD people and people with disabilities faced multiple barriers in being vaccinated. The TGD community reported documentation mismatches and mistrust in health systems. People with disabilities reported mobility challenges, escort dependence, financial challenges, and variable accessibility at vaccination sites. Both groups faced digital exclusion, received inadequate information that did not address their specific needs, and experienced inconsistent implementation of inclusive policies. Community-led facilitation led to more uptake. Conclusions: Vaccine willingness alone is insufficient to ensure that vaccines reach everyone. Addressing trust deficits, infrastructural barriers, and digital exclusions requires diligent attention and commitment from the government to mitigate broader challenges faced by TGD people and people with disabilities. Full article

The digital economy creates new opportunities for micro, small, and medium enterprises (MSMEs) in Indonesia to enhance their competitiveness through the adoption of financial technology. This study examines how digital financial inclusion (DFI) mediates the effects of digital financial literacy (DFL) and government support (GS) on MSME performance. This mediating relationship remains underexplored in developing countries, offering new insights into how it drives business advancement. A quantitative approach was applied using partial least squares structural equation modeling (PLS-SEM) based on survey data from 260 culinary MSME owners. The results indicate that knowledge-based resources and institutional support positively influence performance through DFI. DFI drives improvement by expanding market reach, increasing operational efficiency, facilitating transactions, optimizing the value of financial activities, and broadening access to financing. These findings underline the importance of policies that promote inclusive digital ecosystems and strengthen digital capability. Future research approaches should emphasize the integration of behavioral factors, institutional support, and business performance within the evolving MSME ecosystem and can be further developed through longitudinal or cross-sectoral studies to understand the sustainable dynamics of digital transformation. Full article

In the pursuit of sustainable economic development, fostering new-quality productivity (NQP) is both an inherent requirement and a strategic priority for advancing a green economy, while digital transformation has emerged as a pivotal driver in reconciling economic growth with environmental protection. Grounded in the Dual-Factor Theory of Productivity, this study empirically examines the impact of digital transformation on corporate NQP, with a focus on its heterogeneous effects, using panel data from China’s A-share listed firms (2013–2022). We further investigate the mediating role of green innovation—encompassing both technological and managerial dimensions—and the moderating effect of digital financial inclusion (DFI). The results show that digital transformation significantly enhances NQP, a finding robust to multiple endogeneity tests and alternative model specifications. Mechanism analysis indicates that digitalization fosters NQP by promoting green technological and managerial innovations, while DFI amplifies this effect. Heterogeneity analysis reveals stronger impacts in state-owned enterprises, non-manufacturing sectors, firms in developed regions, and highly competitive industries. These findings advance theoretical understanding of dynamic control mechanisms in environmental economics, provide empirical evidence on how digital transformation drives sustainable productivity through green innovation, and offer actionable insights for policymakers and firms seeking to align economic growth with environmental sustainability. Full article

Agricultural green development cannot be achieved without effective financial support. Based on panel data from 30 provinces in China from 2014 to 2023, this paper uses a coupling coordination model to measure and analyse the degree of coordination between digital inclusive finance and green finance; this further constructs a comprehensive evaluation system for agricultural green development, and on this basis uses a fixed-effect model and a threshold regression model to systematically examine the impact of the coordination between the two on agricultural green development. The findings are as follows: first, the coordination between digital inclusive finance and green finance shows an upward trend over time, shifting spatially from a high trend in the east to a low trend in the west to regional convergence; second, the coordination between the two has a substantial and favourable impact on green agricultural development, which is a conclusion that persists after robustness tests; third, the effect is heterogeneous, with more pronounced promotion effects in non-grain-producing regions, regions with high agricultural technology levels, and low levels of financial exclusion; fourth, the effect exhibits nonlinear characteristics, with coordination and agricultural industrial agglomeration each forming a single-threshold effect. This research lays down a foundational framework for financial coordination in supporting agricultural green development. It suggests promoting a dual-wheel coordination mechanism to effectively empower agricultural green development by strengthening technological empowerment, regional linkage, and designing differentiated policies. Full article

This study examines the role of fintech adoption in enhancing financial inclusion in Qatar, with a particular focus on the mediating influence of access barriers. A structured questionnaire was administered to 220 respondents, of which 200 valid responses were retained for analysis after screening for completeness and outliers. The constructs of fintech adoption (FA), financial inclusion (FI), and access barriers (AB) were measured using validated multi-item scales adapted from prior literature. Measurement reliability and validity were confirmed through Cronbach’s alpha, composite reliability, and average variance extracted (AVE), alongside confirmatory factor analysis (CFA) for construct validity. A structural equation modeling (SEM) approach was employed to test the hypothesized relationships, using maximum likelihood estimation with bootstrap standard errors and confidence intervals. Model fit indices indicated excellent fit (χ² = 48.983, df = 51, p = 0.554; CFI = 1.000; TLI = 1.003; RMSEA = 0.000; SRMR = 0.036). Factor loadings were all significant (p < 0.001), supporting convergent validity. However, the structural paths from FA to FI (β = −0.020, p = 0.827), AB to FI (β = −0.077, p = 0.394), and FA to AB (β = 0.054, p = 0.527) were not significant. The indirect mediation effect of AB was also statistically insignificant (β = −0.004, p = 0.700). Full article