Dhairya Dev
57916029400
Publications - 5
Sustainable finance in action: A comprehensive framework for policy and practice integration
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
Crude oil Price forecasting: Leveraging machine learning for global economic stability
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
Empowering energy transition: Green innovation, digital finance, and the path to sustainable prosperity through green finance initiatives
Publication Name: Energy Economics
Publication Date: 2024-08-01
Volume: 136
Issue: Unknown
Page Range: Unknown
Description:
This study delves into the intricate relationship between financial digitization and green innovation, aiming to shed light on their dynamic interplay within a global context. Spanning from 2003 to 2020, the study encompasses 15 diverse countries, encompassing both developed and emerging economies, including Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, Turkey, the United Kingdom, and the USA. It not only explores the direct connection between financial digitization and green innovation but also takes into account various controlling factors such as economic growth, industrial value addition, research and development expenditure, and gross national expenditure. The key findings from quantile regression reveal financial digitization have a significant positive effect, indicating that in countries with lower green innovation levels, an increase in digital financial services significantly boosts green innovation. This positive impact persists across quantiles, even in countries with higher green innovation levels, albeit to a lesser degree. Economic growth consistently shows a negative association with green innovation across all quantiles. Research and development expenditure consistently demonstrate a positive relationship with green innovation across all quantiles, emphasizing that countries allocating a higher percentage of their economic growth to research and development expenditure activities experience substantial increases in green innovation. This underscores that countries allocating a higher percentage of their economic growth to research and development expenditure activities experience substantial increases not only in green innovation but also in the facilitation of green finance initiatives.
Open Access: Yes
Nexus between environmental degradation and climate change during the times of global conflict: Evidence from CS-ARDL model
Publication Name: Environmental and Sustainability Indicators
Publication Date: 2024-06-01
Volume: 22
Issue: Unknown
Page Range: Unknown
Description:
There has been a substantial amount of research done on air pollution, both in terms of its history and its state at the present time. On the other hand, the ever–changing influence of climatic variables such as sun hour, air pressure, and wind speed has gotten just a small portion of the attention. This divide becomes even more apparent when one considers the ongoing conflicts that are taking place between Russia and Ukraine as well as the current state of the environment's response to climate change. In order to bridge this research gap, the goal of this study is to explore the ways in which climatological factors impact air quality, especially levels of PM2.5 and ozone, in a range of cities situated in India, during 2020–2021. Studies conducted over brief and extended periods of time have made it abundantly evident that sun hour, wind speed, and humidity have an impact on ozone levels. The study also sheds light on prospective policies that may be implemented in the future, such as those relating to carbon emission and particulate pollution such as PM2.5, in order to successfully battle the negative impacts that these variables have on the environment.
Open Access: Yes
Past, present, and future of block-chain in finance
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
