| Abstract [eng] |
The main purpose of this master thesis is to identify the impact of financial technology on the sustainable economic and environmental development of EU countries. The work consists of four main parts: the analysis of literature, the methodology and research and its results. The literature review thoroughly examines and analyzes existing research on the impact of financial technology on sustainable development. It highlights the significance of innovation, explores prior studies on the subject, and evaluates the methodologies and variables utilized in these analyses. Following the literature review, the author developed a methodology to investigate the effects of financial technology on sustainable development within the EU. This methodology involves analyzing sustainability and fintech data, constructing a Sustainable Economic and Environmental Development Index, and performing regression analyses. The data covers two distinct periods: 2005–2015 and 2016–2023. EU countries are classified based on their level of innovation to better understand regional variations.. Upon completing the study, the author identified several important findings. Credit and debit card usage, along with internet banking, generally contributed positively to sustainable development. However, the influence of ATMs and digital capital was more variable, often depending on a country’s level of innovation and the efficiency of its infrastructure. The hypothesis that fintech positively and significantly impacts sustainable economic and environmental development was partially confirmed. It was validated for strong innovators during 2005–2015 and rejected for moderate innovators in 2016–2023. These results suggest that the role of financial technology in sustainability is contingent on innovation levels, time periods, and the maturity of the technology. It is therefore necessary to develop tailor-made fintech solutions, taking into account regional specificities and the ever-changing innovation landscape. The author believes that the results of the study could give useful guidelines to the policy makers of the EU countries to guide them in the process of forming a sustainable growth strategy while implementing the financial technologies in the process. |
