Table 3

Future directions in digital finance research

ClusterCluster themeFuture research directions
1Digital Finance, Green Finance and Sustainable Development
  • Future research can explore the synergy between green financial policies and technological innovation to enhance the role of green digital finance in promoting technology diffusion

  • Examine the intersection of carbon markets, digital finance and regulatory instruments for industrial decarbonization

2Digital Technologies and Financial Stability
  • Future research can focus on integrating digital finance technologies to enhance financial stability

  • Developing regulatory frameworks to manage the risks associated with digital assets and strategies to leverage digitalization for economic resilience is recommended

3Digital Financial Inclusion
  • Investigating the influence of investing in network towers on financial inclusion and examining how digital financial technology improves transactional flows between affluent and destitute individuals using panel data analysis

  • Developing a theoretical framework linking digital inclusive finance and individual investor behavior, and further empirical research on the behavioral biases of individual investors, is recommended for future research

4Trust and Technology Acceptance in the adoption of digital finance
  • The researchers can examine both the pre-adoption and post-adoption behaviors of individuals in India regarding digital currencies to better understand the regulatory challenges and potential risks of widespread adoption, especially in developing economies

  • Emphasizing the specific barriers and enablers of digital finance adoption will provide insights into how financial institutions can enhance user trust and mitigate perceived risks

Source(s): Authors’ compilation

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