Effect of Fintech on Sustainable Development Goals: An Empirical Analysis

Abstract This paper empirically examines the impact of financial technology (FinTech) and financial inclusion on sustainable development goals (SDGs). The adoption of FinTech has a significant positive effect on key SDGs in developing nations. Specifically, FinTech contributes to reducing income inequality and poverty, while promoting gender equality, access to basic sanitation, clean energy, and education. Additionally, the increasing adoption of FinTech is linked to overall economic growth. To address potential biases from heteroscedasticity and endogeneity, we conduct robustness checks using simultaneous equation modeling and Poisson pseudo-maximum likelihood estimations. Our findings confirm that the benchmark results are robust. JEL Codes: O1, O19, O20, Q01. Keywords: Sustainable Development Goals, SDG, Fintech, Financial Inclusion, Pseudo – Poisson Maximum Likelihood (PPML), Simultaneous Equations Model (SEM).