Resource curse or resource boon? Appraising the mediating role of fin-tech in realizing natural resources-green growth nexus in MENA region

Natural resources and development nexus is a widely studied phenomenon in academic literature due to the dual nature of the relationship whereby resource curse and resource boon go hand in hand. However, given the current climate concerns, the literature needs to give more attention to the impact of natural resources on environmental sustainability. Therefore, this study intends to establish a resource curse or resource boon on environmental sustainability measured through Green Growth (GG) in the MENA region from 1990 to 2022. We specifically explore the mediating role of financial technologies (FINTECH) and measure natural resources' direct, indirect, and total impact on GG using the path analysis structural equation model (SEM). We have developed a FINTECH index using three connectivity indicators and two banking -related indicators and tested its mediating impact on the MENA nations. The study found that the MENA region exhibits resource boon regarding environmental sustainability, and the effect is strengthened through FINTECH. A mediating role of FINTECH exists that has helped MENA countries improve their GG potential by using its natural resources utilization. The study recommends using environmentally friendly financial technologies and methods for natural resource exploitation that may increase the region's environmental sustainability.