Aviral Tiwari

57204698496

Publications - 7

Sustainable finance in action: A comprehensive framework for policy and practice integration

Gagan Deep Sharma Aviral Tiwari Dhairya Dev Mansi Gupta

Publication Name: International Review of Economics and Finance

Publication Date: 2025-10-01

Volume: 103

Issue: Unknown

Page Range: Unknown

Description:

This study examines the current state of sustainable finance and proposes a strategic roadmap for its advancement in policy and practice, emphasizing the integration of sustainability principles into financial systems to address global environmental and social challenges. Using an integrative literature review of 684 scholarly articles—combining bibliometric analysis with manual review—the research identifies six critical themes and highlights major barriers such as regulatory ambiguity, lack of standardized metrics, and limited data availability. It offers targeted recommendations for policymakers, financial institutions, and stakeholders to overcome these challenges. The study provides a novel methodological contribution by merging bibliometric and qualitative insights, and outlines practical strategies to enhance regulatory frameworks, encourage innovation in sustainable finance, and promote emerging technologies like blockchain and artificial intelligence. Ultimately, it supports the integration of environmental, social, and governance (ESG) considerations into financial practices, fostering a more responsible and inclusive financial ecosystem.

Open Access: Yes

DOI: 10.1016/j.iref.2025.104511

Crude oil Price forecasting: Leveraging machine learning for global economic stability

Gagan Deep Sharma Aviral Tiwari Mohammad Razib Hossain Amar Rao Dhairya Dev

Publication Name: Technological Forecasting and Social Change

Publication Date: 2025-07-01

Volume: 216

Issue: Unknown

Page Range: Unknown

Description:

The volatility of the energy market, particularly crude oil, significantly impacts macroeconomic indices, such as inflation, economic growth, currency exchange rates, and trade balances. Accurate crude oil price forecasting is crucial to risk management and global economic stability. This study examines various models, including GARCH (1,1), Vanilla LSTM, GARCH (1,1) LSTM, and GARCH (1,1) GRU, to predict Brent crude oil prices using different time frequencies and sample periods. The LSTM and GARCH (1,1)-GRU hybrid models showed superior performance, with LSTM slightly better in predictive accuracy and GARCH (1,1)-GRU in minimizing squared errors. These findings emphasize the importance of precise crude oil price forecasting for the global energy market and manufacturing sectors that rely on crude oil prices. Accurate forecasting helps ensure economic sustainability and stability and prevents disruptions to production and distribution chains in both developed and emerging economies. Policymakers may choose to implement energy security measures in response to the significant impact of crude oil price volatility on the macroeconomic indicators. These measures could include maintaining strategic reserves, diversifying energy sources, and decreasing the dependence on volatile oil markets. By doing so, a country's ability to handle oil price fluctuations and ensure a stable energy supply can be enhanced.

Open Access: Yes

DOI: 10.1016/j.techfore.2025.124133

How do economies decarbonize growth under finance-energy inequality? Global evidence

Gagan Deep Sharma Aviral Tiwari Hai Hong Trinh Diem Thi Hong Vo

Publication Name: Energy Economics

Publication Date: 2025-02-01

Volume: 142

Issue: Unknown

Page Range: Unknown

Description:

The study investigates the multidecade complexity between economic growth and carbon emissions across income groups and regions for 180 economies over the past decades. We find that the global economy has been decarbonizing its economic growth. The effects of growth on decarbonization are conditional on outcome distributions. The Paris Agreement (COP21) and renewable energy consumption (REC) are robust mechanisms toward green growth. Financial development (FD) presents its moderation to decarbonized growth. The study makes the following novel contributions to prior literature streams. First, complex GDP-CO2 nexuses are conditional on green factors and decarbonization is foremost for our global inclusive growth. Second, the friendliness of FD to the environment relies on green transition. It is worth noting that financial institutions and markets are exposed to climate risk drivers leading to our great challenge to promote green finance. Decarbonization is our global and constant efforts toward inclusive growth. Under finance-energy inequality, renewable energy capacity and finance are critical to decarbonized economic growth.

Open Access: Yes

DOI: 10.1016/j.eneco.2024.108172

Energy-growth nexus for ‘Renewable Energy Country Attractiveness Index’ countries: Evidence from new econometric methods

Gagan Deep Sharma Mandeep Mahendru Aviral Tiwari Solomon Nathaniel Mansi Gupta

Publication Name: Geoscience Frontiers

Publication Date: 2024-05-01

Volume: 15

Issue: 3

Page Range: Unknown

Description:

This study explores the connections between renewable energy consumption (REC), non-renewable energy consumption (NREC), gross fixed capital formation (GFCF), the labor force (LF), and economic growth (GDP) in Renewable Energy Country Attractiveness Index (RECAI) countries for 1991–2016. We quantify the nexus between REC, NREC, and GDP while utilizing a production model framework and including the measures of labor and capital, for suggesting a phase-wise strategy to attain the sustainable development goals. We use robust methodologies including Lagrange Multiplier (LM) panel unit root tests with trend shifts, Westerlund cointegration test, LM bootstrap technique for cointegration with breaks, continuously updated fully modified (CUP-FM) and continuously updated bias-corrected (CUP-BC) estimators, Augmented Mean Group (AMG) approach, fully modified ordinary least squares, dynamic ordinary least squares, Canonical Cointegrating Regression (CCR), and panel causality test proposed by Canning & Pedroni. We compute non-parametric time-varying coefficients with fixed effects for seeing the impact of GFCF, LF, REC, and NREC on GDP. Our results press upon policymakers to shift toward clean energy and REC for attaining the environmental goals (SDGs 6, 7, 13, and 15) and the economic goals (SDGs 1, 2, 8, and 10). While this shift would help developed economies, which have already attained the economic goals, to progress on the front of environmental goals, it would enable developing countries to progress on both fronts in a balanced manner.

Open Access: Yes

DOI: 10.1016/j.gsf.2023.101704

Resource savings, recycling and utilization, and energy transition: Introduction

Aviral Tiwari Xin Zhao Umer Shahzad

Publication Name: Geoscience Frontiers

Publication Date: 2024-05-01

Volume: 15

Issue: 3

Page Range: Unknown

Description:

No description provided

Open Access: Yes

DOI: 10.1016/j.gsf.2024.101797

Past, present, and future of block-chain in finance

Gagan Deep Sharma Aviral Tiwari Ritika Chopra Dhairya Dev

Publication Name: Journal of Business Research

Publication Date: 2024-04-01

Volume: 177

Issue: Unknown

Page Range: Unknown

Description:

Diverse businesses are investigating the possibility of redefining their current operational systems in light of the latest blockchain, initially developed for Bitcoin traBitcoinns. This research examines the existing literature on blockchain and its application in the finance sector. This paper provides a systematic literature review of the uses of blockchain in the finance sector. To conduct the review, we performed a boolean search on the Scopus database and obtained 149 records, which we then analyzed bibliometrically using the bibliometrix package in R. The categorization of the existing literature into themes resulted in identifying the following six significant research themes: financial inclusion, sustainable finance, blockchain technology, cryptocurrencies, and artificial intelligence. Following the inductive analysis, we propose a conceptual framework that includes components such as the digital financial revolution, innovation, entrepreneurship, the financial market, sustainable business development, and financial innovation and sustainability. These findings are utilized to suggest future lines of inquiry for this area of study, including the necessity of methodological development and theoretical foundation.

Open Access: Yes

DOI: 10.1016/j.jbusres.2024.114640

Impact of Information Communication Technology on labor productivity: A panel and cross-sectional analysis

Yuriy Bilan Rafał Kasperowicz Dalia Streimikiene Aviral Tiwari Yash Laddha

Publication Name: Technology in Society

Publication Date: 2022-02-01

Volume: 68

Issue: Unknown

Page Range: Unknown

Description:

This article examines the contribution of information and communications technologies (ICT) to labor productivity using panel data approach. The study covers the period of 2000–2015 for a complete dataset of 98 countries as well for three selected groups: low-income, middle-income, and high-income countries. The findings imply that telephone subscription and broadband subscription have a significant impact on overall labor productivity as well as labor productivity of service sector. The ICT affects the labor productivity, so investing in Information Communication Technology is necessary to increase the labor productivity.

Open Access: Yes

DOI: 10.1016/j.techsoc.2022.101878