Fintech and energy efficiency: Evidence from OECD countries

This study aims to analyze the impact of financial technology (Fintech) on energy efficiency. Using data from the OECD national panel for 2000–2018, this study examines the direct and indirect effects of fintech on energy efficiency using the undesirable super-efficiency three-stage SBM model. The r...

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Bibliographic Details
Published in:Resources policy 2023-05, Vol.82, p.103550, Article 103550
Main Authors: Teng, Mingming, Shen, Minghao
Format: Article
Language:English
Subjects:
Direct effect
Energy efficiency
Fintech
Indirect effect
OECD
Three-staged undesirable super-efficiency SBM model
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Summary:This study aims to analyze the impact of financial technology (Fintech) on energy efficiency. Using data from the OECD national panel for 2000–2018, this study examines the direct and indirect effects of fintech on energy efficiency using the undesirable super-efficiency three-stage SBM model. The results show that: (1) The overall trend of energy efficiency in the third stage after adjustment is close to that of the first stage, and the average values decrease. (2) Fintech directly contributes to the improvement of energy efficiency in OECD countries. And it indirectly enhances energy efficiency by increasing renewable energy consumption or environmental management patents. (3) Fintech companies specializing in the energy sector or located in North America can contribute more significantly to energy efficiency. The results may provide useful information regarding the development of fintech and energy efficiency in OECD countries. •Evaluate energy efficiencies and fintech of 30 OECD countries from 2001 to 2018.•Measure Energy efficiency by using the three-step SBM model.•Fintech can improve energy efficiency directly.•Fintech indirectly enhances energy efficiency by increasing renewable energy consumption or environmental management patents.•The influence of fintech on energy efficiency is heterogeneous.
ISSN:0301-4207
DOI:10.1016/j.resourpol.2023.103550