The asymmetric role of natural resources, fintech and green innovations in the Chinese economy. Evidence from QARDL approach

During the last decades, researchers have redirected their concerns in order to inspect diverse means to alleviate ecological destruction. In this regard, the ongoing analysis strives to inspect the part of natural resources and fintech in shrinking ecological destruction for China. The analysis has employed data for the time span of 2000–2020 and utilized the rigorous econometric approach quantile autoregressive distributed lag (QARDL) model. In accordance with the outcomes, natural resources are adversely linked with carbon emissions at all quantiles in the long run. Fintech is verified to be the primary medium to alleviate Carbon emissions for China. With regard to the long run, green innovations tend to have an unfavourable impact on Carbon emissions through all quantiles. Furthermore, economic growth is substantially augmenting Carbon emissions at lower to higher quantiles. The analysis establishes proof of the unidirectional interconnection with regard to natural resources to Carbon emissions and fintech to Carbon emissions. Although with reference to growth, Carbon emissions, green innovations, and Carbon emissions, there is the presence of the bidirectional interconnection. The research outcome specified that for China, fintech and technological innovations are the two prime effective mediums to regulate carbon. Thus, China's strategies rested on the encouragement of fintech and the commencement of the latest green innovation projects that can regulate emissions and upgrade ecological standards.