Role of Financial Innovation in Achieving Economic Sustainability: A Review Study

Financial innovation accelerates the economic sustainability of firms by enhancing financial markets’ productivity, accelerating capital development, improving financial services, and creating more effective financial intermediation. This article, therefore, highlights the possible economic performance associated with applying different methods of financial innovation. Employing a desk study methodology, this paper discusses the effectiveness of financial innovation techniques in enhancing firms’ economic sustainability performance theoretically. In doing so, this review paper provides policymakers and practitioners with several insights into the efficiency of such strategies for businesses’ sustainable economic growth.