This volume offers a comprehensive examination of how innovative financial strategies can address critical environmental and social challenges globally. Organized around five key themes―financial institutions fostering financial stability; volatility in financial markets; inclusive development: MSMEs, and microfinance; financial innovation for sustainability: ESG and climate finance; and fintech―it presents pioneering studies that provide deep insights into the intersection of finance and sustainable development. The book fills the literature gap that concerns sustainable economic development, financial markets, and institutions and provides several high-quality studies that focus on sustainable economic development, financial markets, renewables, and climate risks. Contributions are by scholars from diverse fields and include practical policy recommendations. The book is an essential resource for academics, policymakers, and professionals dedicated to leveraging financial innovations for sustainable development. By offering a comprehensive examination of formal and informal financial institutions, digital finance, economic development, and green sustainability, this book not only advances knowledge but also provides practical solutions to build a resilient and inclusive global economy.
Sandeep Mohapatra is Professor at the Department of Resource Economics & Environmental Sociology (REES), University of Alberta, Edmonton, Canada. An applied agricultural economist with a focus on economic development, Prof. Mohapatra’s research in developing countries uses quantitative approaches to study a range of issues centred on gender; poverty; identity and hope. His current research agenda focuses on the impact of climate shocks on child outcomes in India. In developed countries, his work has addressed knowledge gaps linking economic growth and the environment; the efficiency of agricultural market contracts; technology adoption; and the interplay between international trade and food security. Prof. Mohapatra has authored many peer-reviewed journal publications in outlets such as the American Journal of Agricultural Economics, Review of Economics of the Household, Energy Economics, Economic Inquiry, Review of Industrial Organization, Journal of Empirical Finance, Climatic Change and Oxford Development Studies. He has taught both graduate and undergraduate classes in Econometrics and Economic Development. His MSc Student advisees have received the Canadian Agricultural Economics Society (CAES) and American Agricultural Economics Association (AAEA) best MSc. thesis awards. Prof. Mohapatra served as a Councillor for the Canadian Agricultural Economics Society in 2014 and is currently a member of the Editorial Board of the Canadian Journal of Agricultural Economics.
Puja Padhi is Professor at the Department of Economics, Indian Institute of Technology (IIT) Bombay, Mumbai, India. Her research interests include macroeconomics, banking, and financial markets, financing economic development, and climate finance. She has taught several undergraduate, post-graduate, and PhD level courses. Her papers have been published in ABDC and Scopus-indexed journals including Journals of Futures Markets, International Journal of Social Economics, Journal of Multinational Financial Management, and Review of Accounting and Finance to name a few. In 2023, she completed the Development Research Group (DRG) project by the Reserve Bank of India. Under her mentorship, three of her PhD students received excellence in thesis awards in 2015, 2017, and 2019 at IIT Bombay.
Vijeta Singh is Assistant Professor, at the Ramcharan School of Leadership, MIT World Peace University, Pune, India. She obtained her PhD from IIT Bombay in 2018 in the area of microfinance. Her research has been published in ABDC and Scopus-indexed journals and her research interests broadly lie in topics like renewable energy, microfinance, sustainable development goals (SDGs), green growth, hydrogen economy, green finance, and clean fuels; relevant skills and expertise include working on statistics and econometric modelling over various ranges of micro and macroeconomic issues. She has experience in heading/co-heading of funded projects and organizing research workshops.
