Template-Type: ReDIF-Article 1.0
Author-Name: Peterson K. Ozili
Author-X-Name-First: Peterson K.
Author-X-Name-Last: Ozili
Title: Country-wide protests and financial stability
Abstract:
This paper investigates the effect of country-wide protests on financial stability after controlling for inflation rate and the level of political stability. Country-wide protests may pressure a powerful government to listen and meet the demands of relatively less powerful groups, but country-wide protests can be destructive, especially when such protests lead to the destruction of the business assets of the clients of financial institutions, thereby making it difficult for them to meet their loan repayment and other obligations to financial institutions, and posing risk to the stability of the financial system. Financial stability and country-wide protests data were analysed for the UK. The empirical results show that bank non-performing loans are higher in country-wide protests years, implying that country-wide protests have a significant negative impact on financial stability through high non-performing loans in years where there are country-wide protests.
Journal: Int. J. of Sustainable Economy
Pages: 1-25
Issue: 1
Volume: 17
Year: 2025
Keywords: financial stability; UK; protest; demonstrations; non-performing loans; country-wide protests.
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:1:p:1-25
Template-Type: ReDIF-Article 1.0
Author-Name: Ibrahim Shittu
Author-X-Name-First: Ibrahim
Author-X-Name-Last: Shittu
Author-Name: Abdul Rais Bin Abdul Latiff
Author-X-Name-First: Abdul Rais Bin Abdul
Author-X-Name-Last: Latiff
Author-Name: Siti 'Aisyah Baharudin
Author-X-Name-First: Siti 'Aisyah
Author-X-Name-Last: Baharudin
Title: Petroleum subsidies, clean energy transition, and decarbonisation in oil-producing developing countries: what is the role of regulatory quality?
Abstract:
Energy transition and decarbonisation are critical gateways to cutting carbon emissions, improving energy security, and achieving the United Nations Sustainable Development Goals. Researchers have paid enormous attention to understanding key drivers of clean energy transition and decarbonisation. However, they have overlooked the role of fossil fuel subsidies and regulatory quality in developing countries where fuel subsidies are prominent and institutional quality is weak. This study employs a Prais-Winsten regression to examine the impact of petroleum subsidies and regulatory quality on clean energy transition and decarbonisation in 25 developing countries between 2010 and 2020. The result revealed that petroleum subsidies hinder the shift to clean energies and encourage high carbon intensity. However, when these subsidies are accompanied by a strong regulatory quality, they promoted energy transition and decarbonisation. The study recommends practical pathways to reform fuel subsidies, swap subsidy saving into clean energies, and strengthen regulatory quality.
Journal: Int. J. of Sustainable Economy
Pages: 26-51
Issue: 1
Volume: 17
Year: 2025
Keywords: clean energy; energy transition; carbon emission; decarbonisation; petroleum subsidies; regulatory quality; developing countries; Prais-Winsten regression; SDGs; renewable energy.
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:1:p:26-51
Template-Type: ReDIF-Article 1.0
Author-Name: Lakshmana Padhan
Author-X-Name-First: Lakshmana
Author-X-Name-Last: Padhan
Author-Name: Savita Bhat
Author-X-Name-First: Savita
Author-X-Name-Last: Bhat
Title: The relevance of renewable energy and green innovation in environmental sustainability: evidence from BRICS countries
Abstract:
The study examines the significance of green innovation and renewable energy usage in reducing the carbon and ecological footprints in Brazil, Russia, India, China, and South Africa (BRICS) countries. It applies a series of econometric techniques and the Driscoll-Kraay standard errors regression approach to data collected between 1995 and 2018 based on the environmental Kuznets curve (EKC) hypothesis. Important macroeconomic control variables, such as industrialisation, urbanisation, financial development, trade openness, and natural resources, are also used to strengthen the model. Empirical results show that a 1% increase in green innovation reduces the carbon and ecological footprint by 0.229% and 0.226%, respectively. Further, increasing renewable energy consumption by 1% decreases the carbon and ecological footprints by 0.024% and 0.032%, respectively. Furthermore, the empirical findings support the EKC hypothesis. The study has important policy implications for governments and policymakers of emerging countries to invest more in green innovation and promote renewable energy.
Journal: Int. J. of Sustainable Economy
Pages: 52-74
Issue: 1
Volume: 17
Year: 2025
Keywords: green innovation; renewable energy; carbon footprint; ecological footprint; BRICS; Driscoll-Kraay standard errors; environmental Kuznets curve; EKC; environmental degradation; GDP; economic growth.
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:1:p:52-74
Template-Type: ReDIF-Article 1.0
Author-Name: Karima Lajnef
Author-X-Name-First: Karima
Author-X-Name-Last: Lajnef
Author-Name: Sahar Turki
Author-X-Name-First: Sahar
Author-X-Name-Last: Turki
Author-Name: Siwar Ellouz
Author-X-Name-First: Siwar
Author-X-Name-Last: Ellouz
Title: The moderating role of board gender diversity in the relationship between corporate social responsibility and financial performance: evidence from France
Abstract:
This study examines the influence of corporate social responsibility (CSR) and governance mechanisms on financial performance (FP) and investigates how board gender diversity (BGD) moderates the relationship between FP and CSR. The study analyses data from French companies listed on the SBF 120 index between 2008 and 2020. The findings suggest that CSR performance and BGD have a positive impact on FP. Additionally, the study reveals a moderation of BGD in the relationship between CSR and FP. The research adds to our theoretical and empirical understanding of how BGD relates to CSR and FP. The results highlight the importance of considering the potential impact of CSR policy, governance mechanisms, and BGD on FP. Therefore, stakeholders should be more aware of these factors to promote better financial outcomes.
Journal: Int. J. of Sustainable Economy
Pages: 75-102
Issue: 1
Volume: 17
Year: 2025
Keywords: corporate social responsibility; CSR; financial performance; FP; board gender diversity; BGD; governance mechanisms.
File-URL: http://www.inderscience.com/link.php?id=142943
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:1:p:75-102
Template-Type: ReDIF-Article 1.0
Author-Name: Hoang Xuan Binh
Author-X-Name-First: Hoang Xuan
Author-X-Name-Last: Binh
Author-Name: Huong-Giang Pham
Author-X-Name-First: Huong-Giang
Author-X-Name-Last: Pham
Author-Name: Nguyen Ha My
Author-X-Name-First: Nguyen Ha
Author-X-Name-Last: My
Author-Name: Lai Thi Huyen Trang
Author-X-Name-First: Lai Thi Huyen
Author-X-Name-Last: Trang
Author-Name: Nguyen Minh Tien
Author-X-Name-First: Nguyen Minh
Author-X-Name-Last: Tien
Title: Exploring the linkage of international trade and environmental pollution in Asia
Abstract:
This paper utilises data from Asian countries from 2000-2020 (with consideration of the COVID-19 period) to explore the linkage between international trade and environmental pollution in this region. After controlling for heteroscedasticity and autocorrelation, results of a fixed-effect regression show that the export turnover, import turnover, GDP per capita, electricity consumption, population growth rate, and net receipt ratio of FDI to GDP have significantly improved the level of CO<SUB align="right"><SMALL>2</SMALL></SUB> emission in Asia. In addition, the paper also confirms the existence of the environmental Kuznets curve and that maintaining a surplus trade balance will help reduce CO<SUB align="right"><SMALL>2</SMALL></SUB> emissions in a country. These empirical insights are particularly interesting to policymakers since they help build sensible policies about economic growth, energy conservation, and foreign direct investment to improve environmental quality.
Journal: Int. J. of Sustainable Economy
Pages: 103-121
Issue: 1
Volume: 17
Year: 2025
Keywords: international trade; environmental pollution; FEM; environmental Kuznets curve; EKC; pollution haven hypothesis.
File-URL: http://www.inderscience.com/link.php?id=142959
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:1:p:103-121
Template-Type: ReDIF-Article 1.0
Author-Name: Neha Seth
Author-X-Name-First: Neha
Author-X-Name-Last: Seth
Author-Name: Deepti Singh
Author-X-Name-First: Deepti
Author-X-Name-Last: Singh
Title: Modelling connectedness and diversification among socially responsible investments in Asia
Abstract:
The study investigates the cointegration and volatility interdependence among sustainable indices of emerging Asian countries by employing Johansen's cointegration, Granger causality test and dynamic conditional correlation (DCC) GARCH model. The analysis reveals no long-run relationship among these indices, and all the indices are significantly affected by their lagged values. The results also present that past shocks and volatility have a significant role in the present volatility of the sustainable indices. However, past volatility has more impact, which lasts with stronger persistence. The significant DCC terms infer that volatility spillover exists between sustainable Asian markets. The study also calculated optimal portfolio weights to provide better diversification opportunities to minimise the risks without hampering the potential returns. The study suggests that long-term investors may earn profit by adding these non-integrated sustainable indices to their portfolios, but they must diversify and hedge to safeguard from losses during economic and financial turmoil.
Journal: Int. J. of Sustainable Economy
Pages: 123-146
Issue: 2
Volume: 17
Year: 2025
Keywords: volatility spillover; Johansen's cointegration; DCC-GARCH; sustainable stock index; optimal portfolio weights; emerging Asia.
File-URL: http://www.inderscience.com/link.php?id=145276
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:2:p:123-146
Template-Type: ReDIF-Article 1.0
Author-Name: Santi Gopal Maji
Author-X-Name-First: Santi Gopal
Author-X-Name-Last: Maji
Author-Name: Prachi Lohia
Author-X-Name-First: Prachi
Author-X-Name-Last: Lohia
Title: ESG disclosure and financial success: a comparative dive into India's manufacturing and service sectors
Abstract:
This paper examines the financial impact of environmental, social, and governance (ESG) disclosure in Indian manufacturing and service companies. The study employs a panel approach by utilising secondary data for a sample of 209 Indian-listed firms for 2020 and 2021. Empirical analysis conducted using suitable panel regression models reveals a significant positive financial impact of ESG disclosure in both sectors. However, manufacturing firms display improved market value while the service-sector firms experience higher accounting profits. This study highlights the role of a firm's sector in explaining the consequent financial impact of ESG disclosure. It also emphasises the need for higher but material ESG disclosure and heightened investor awareness. Notably, this study represents the first comparative analysis of ESG's effect on the financial performance of Indian manufacturing and service firms by considering indigenous ESG ratings from the Credit Rating Information Services of India Limited (CRISIL).
Journal: Int. J. of Sustainable Economy
Pages: 221-238
Issue: 2
Volume: 17
Year: 2025
Keywords: ESG; financial performance; manufacturing firms; service firms; CRISIL; India.
File-URL: http://www.inderscience.com/link.php?id=145290
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:2:p:221-238
Template-Type: ReDIF-Article 1.0
Author-Name: Swati Sinha Babu
Author-X-Name-First: Swati Sinha
Author-X-Name-Last: Babu
Title: Nexus between agricultural production and environmental degradation based on the theory of environmental Kuznets curve: a dynamic panel data analysis
Abstract:
Expansion and proliferation of agricultural sector plays a vital role in achieving the sustainable development goals related to ending poverty and hunger. However, its impact on the environment is not free from contention. The aim of present paper is to explore the association between agricultural production and methane emissions (as measure of environmental degradation), across 87 countries classified into higher, middle and lower income groups, covering the period 1990-2020. We have employed dynamic system generalisation method of moment (GMM) to investigate the environmental Kuznets curve hypothesis and study the long-run causal effects among considered variables. Results indicated presence of N-shaped relation between agricultural production and methane emissions for all groups of countries. Findings also revealed that fertiliser consumption and livestock production had detrimental impact on environment. Lastly, policy recommendations have been made related to agricultural production techniques and livestock management strategies that might help development of sustainable agriculture.
Journal: Int. J. of Sustainable Economy
Pages: 170-199
Issue: 2
Volume: 17
Year: 2025
Keywords: agricultural production; methane emission; rice cultivation; livestocks; environmental Kuznets curve; EKC; dynamic GMM; sustainability.
File-URL: http://www.inderscience.com/link.php?id=145298
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:2:p:170-199
Template-Type: ReDIF-Article 1.0
Author-Name: Felipe Rivera
Author-X-Name-First: Felipe
Author-X-Name-Last: Rivera
Author-Name: Katherin López
Author-X-Name-First: Katherin
Author-X-Name-Last: López
Author-Name: Jorge Zamorano
Author-X-Name-First: Jorge
Author-X-Name-Last: Zamorano
Title: Effects on firm decisions considering the temporality of environmental policy
Abstract:
This research analyses the effects of the temporality of environmental policy on firms' location and abatement decisions. The policies are implemented by a regulator concerned about the welfare of society and environmental pollution. Therefore, it applies two instruments simultaneously: the tax on emissions, which seeks to internalise environmental costs, and the subsidy to clean technologies, which incentivises their adoption. In addition, the optimal levels of tax and subsidy that maximise social welfare are studied, considering the impact of the timing of the decision (ex-ante or ex-post). As for its resolution, a model of duopolistic firms competing in quantities in an emission-intensive sector is used. Among the main results, it is demonstrated that for both an ex-ante and ex-post implementation, social welfare is enhanced when environmental policies are in place. However, when the tax is applied ex-post and only one company chooses to remain in the local country, environmental damage increases.
Journal: Int. J. of Sustainable Economy
Pages: 147-169
Issue: 2
Volume: 17
Year: 2025
Keywords: environmental regulation; temporality of the decision; emission tax; subsidy R%D; location.
File-URL: http://www.inderscience.com/link.php?id=145301
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:2:p:147-169
Template-Type: ReDIF-Article 1.0
Author-Name: Oliver E. Ogbonna
Author-X-Name-First: Oliver E.
Author-X-Name-Last: Ogbonna
Author-Name: Jonathan E. Ogbuabor
Author-X-Name-First: Jonathan E.
Author-X-Name-Last: Ogbuabor
Title: How do real and financial sectors in Africa respond to uncertainties from China, the USA and Europe?
Abstract:
In spite of rising cross-border propagation of uncertainty shocks occasioned by the recent COVID-19 outbreak, existing studies barely addressed cross-border uncertainty effect on real and financial sectors, especially in Africa. Thus, this study has taken the initiative to investigate how the real and financial sectors in Africa are reacting to policy uncertainties from China, the USA and Europe. The study employed the generalised method of moment procedures for 41 African economies from 2010 to 2019. We find that rising uncertainty in China and Europe have significant adverse impacts on Africa's real sector, while the impact of the USA uncertainty remains muted. Interestingly, we find that uncertainties from China and Europe have significant positive effects on Africa's financial sector, suggesting that Africa is a safe haven where investors transfer their investments away from risky environments witnessing high uncertainty. The study provides policy suggestions.
Journal: Int. J. of Sustainable Economy
Pages: 200-220
Issue: 2
Volume: 17
Year: 2025
Keywords: uncertainty; real sector; financial sector; two-step system GMM; Africa; China; the USA.
File-URL: http://www.inderscience.com/link.php?id=145320
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:2:p:200-220
Template-Type: ReDIF-Article 1.0
Author-Name: Saima Shadab
Author-X-Name-First: Saima
Author-X-Name-Last: Shadab
Title: Exploring the impact of economic growth, export diversification, trade openness and renewable energy consumption on ecological footprint - evidence from India
Abstract:
This study investigates the nexus between economic growth, export diversification, trade openness, renewable energy consumption, and ecological footprint for India, using annual data from 1971 to 2014. The Lee-Strazicich unit root test is employed to take into account breaks in the data. Furthermore, the autoregressive distributed bound test (ARDL) has been used to examine the short and long-run relationship between the variables. The estimates reveal that economic growth and export diversification increase ecological footprint in the long run but not in the short run. Besides, the coefficient of renewable energy consumption indicates that an increase in it leads to an increase in ecological footprint. In contrast, an insignificant relationship between trade openness and ecological footprint was obtained. Based on the findings, the study recommends that an appropriate mix of policies related to energy efficiency, sustainable development and international trade is required to control environmental degradation in India.
Journal: Int. J. of Sustainable Economy
Pages: 239-254
Issue: 3
Volume: 17
Year: 2025
Keywords: economic growth; export diversification; ED; trade openness; TO; renewable energy consumption; ecological footprint; EF; environmental degradation; sustainability; India.
File-URL: http://www.inderscience.com/link.php?id=147172
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:3:p:239-254
Template-Type: ReDIF-Article 1.0
Author-Name: Buu Kiem Dang
Author-X-Name-First: Buu Kiem
Author-X-Name-Last: Dang
Title: Economic freedom and financial development: do they reduce the shadow economy? A case study of Southeast Asian countries
Abstract:
This study aims to assess the impact of economic freedom, financial development, and various macroeconomic factors on the scale of the shadow economy. The research sample includes ten countries in the Southeast Asian region (excluding Timor-Leste) for the period from 1995 to 2018. The author employs various estimation methods on panel data, including the fixed effect model, Driscoll and Kraay estimation, and two-step system GMM. The results indicate that economic freedom and financial development play significant roles in reducing the size of the shadow economy. This study suggests that: 1) governments should consider improving economic freedom, particularly through substantial enhancements in trade freedom; 2) governments need to implement more measures to facilitate access to credit for businesses and individuals in the private sector; 3) governments should maintain political stability in a stable and robust manner to contribute to reducing the size of the shadow economy.
Journal: Int. J. of Sustainable Economy
Pages: 255-275
Issue: 3
Volume: 17
Year: 2025
Keywords: economic freedom; trade freedom; financial development; shadow economy; Southeast Asian; political stability; credit for businesses; Driscoll and Kraay estimation; system GMM; fixed effect model; FEM.
File-URL: http://www.inderscience.com/link.php?id=147190
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:3:p:255-275
Template-Type: ReDIF-Article 1.0
Author-Name: Bhakti Agarwal
Author-X-Name-First: Bhakti
Author-X-Name-Last: Agarwal
Author-Name: Shailesh Rastogi
Author-X-Name-First: Shailesh
Author-X-Name-Last: Rastogi
Title: The impact of expenses on the return of ESG and traditional mutual funds in India
Abstract:
This research endeavours to explore the relationship between the net asset value (NAV) and the total expenses ratio (TER) of both traditional and environmental, social, and governance mutual fund schemes in the Indian context. The study utilises a dataset spanning three years, encompassing nine traditional and nine ESG mutual fund schemes. The empirical analysis is conducted using panel data econometrics. The finding of this investigation reveals that the TER significantly and negatively impacts the NAV of both traditional and ESG funds. Additionally, this research highlights that traditional funds carry higher risk profiles in comparison to ESG funds, as evidenced by the greater variability in TER among traditional funds as opposed to ESG funds. This research has significant implications for fund managers and investors. The comparative analysis of traditional and ESG mutual fund schemes is an underexplored area of research, underscoring the uniqueness and novel contribution of the present study.
Journal: Int. J. of Sustainable Economy
Pages: 298-313
Issue: 3
Volume: 17
Year: 2025
Keywords: traditional fund; ESG fund; net asset values; NAVs; total expenses ratio; TER; mutual fund schemes; India.
File-URL: http://www.inderscience.com/link.php?id=147202
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:3:p:298-313
Template-Type: ReDIF-Article 1.0
Author-Name: Pratiwi Dwi Suhartanti
Author-X-Name-First: Pratiwi Dwi
Author-X-Name-Last: Suhartanti
Author-Name: Bambang Iman Santoso
Author-X-Name-First: Bambang Iman
Author-X-Name-Last: Santoso
Author-Name: Mamduh M. Hanafi
Author-X-Name-First: Mamduh M.
Author-X-Name-Last: Hanafi
Title: An inverted U-shape relationship between economic growth and financial development: a study from FY20 countries
Abstract:
This study investigates the relationship between financial development and economic growth. Using the sample data of 85 countries, including 53 developed and 32 developing countries, we find results consistent with previous findings that financial development positively impacts economic growth up to a certain threshold. However, when we extend the analysis into developed-developing countries and four different income-level countries, we find that the thresholds tend to be lower for developing and low-income countries. Further investigations show that institutional quality affects the impact. The threshold is lower in countries with low institutional quality. We interpret that the countries with low institutional quality have less capability to contain the negative effect of the financial market, lowering the threshold. Thus, controlling the negative impact of the financial market is an important aspect of the relationship between financial development and economic growth.
Journal: Int. J. of Sustainable Economy
Pages: 314-344
Issue: 3
Volume: 17
Year: 2025
Keywords: economic growth; financial growth; threshold analysis; institutional quality; developing countries.
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:3:p:314-344
Template-Type: ReDIF-Article 1.0
Author-Name: Sara A. Wong
Author-X-Name-First: Sara A.
Author-X-Name-Last: Wong
Title: Is there an environmental Kuznets curve for agriculture in Latin America?
Abstract:
We use panel unit root and cointegration tests, with dynamic panel estimations, to assess the environmental Kuznets curve (EKC) hypothesis, that is, an inverted U-shaped relationship between emissions from agriculture and growth of 18 Latin America and the Caribbean (LAC) countries for the 1989-2019 period. Results indicate that each series is integrated of order one, and that the series are cointegrated in the two specifications applied. Results suggest an inverted U-shaped relationship between emissions and growth - confirming the EKC - for 10 LAC countries and the region (the 18 countries altogether) when applying the standard framework (relating emissions with growth only). The lack of control for essential policies is a criticism of this parsimonious standard model. However, results support an agricultural EKC for 11 LAC countries, but not for the region, when adding indicators that measure trade openness in agriculture and the use of renewable energy - two important policies in place in LAC during the period of study. Agricultural trade, in most cases, reduces emissions. Results inform improved agricultural climate change policy.
Journal: Int. J. of Sustainable Economy
Pages: 276-297
Issue: 3
Volume: 17
Year: 2025
Keywords: environmental Kuznets curve; EKC; greenhouse gas emissions; GHG; agriculture emissions; panel data; panel estimations; Latin America and the Caribbean; LAC.
File-URL: http://www.inderscience.com/link.php?id=147212
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:3:p:276-297
Template-Type: ReDIF-Article 1.0
Author-Name: Anh Nguyen Thi Truc
Author-X-Name-First: Anh Nguyen Thi
Author-X-Name-Last: Truc
Author-Name: Le Thanh Hoa
Author-X-Name-First: Le Thanh
Author-X-Name-Last: Hoa
Title: The nonlinear impact of ESG on firm default risk: evidence from Southeast Asia's firms
Abstract:
This study investigates the impact of environmental, social, and governance (ESG) performance on firm default risk, utilising a sample of 147 Southeast Asian firms from 2007 to 2022. We estimate the research model using the generalised least squares (GLS) approach. Our findings reveal a nonlinear relationship between ESG performance and default risk. Specifically, before reaching the ESG score threshold of 57.12, an increase in ESG is associated with a rise in default risk; beyond this threshold, higher ESG scores correspond to a reduction in firm default risk. Additionally, our analysis indicates that after the 2015 Paris Agreement, the importance of ESG factors in reducing default risk has become more pronounced, especially for SMEs. The U-shaped relationship between ESG and firm default risk is attributed to the firm's market value channel. Our results underscore the significance of effective ESG investment for enhancing financial stability, particularly in the context of evolving regulatory and market environments.
Journal: Int. J. of Sustainable Economy
Pages: 423-441
Issue: 4
Volume: 17
Year: 2025
Keywords: ESG; default risk; Southeast Asia; inverted U-shaped; SME; The 2015 Paris Agreement.
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:4:p:423-441
Template-Type: ReDIF-Article 1.0
Author-Name: Peterson K. Ozili
Author-X-Name-First: Peterson K.
Author-X-Name-Last: Ozili
Title: Macroeconomic determinants of unemployment in ECOWAS countries
Abstract:
Unemployment is a major issue in ECOWAS countries and its determinants are not well-known. We investigate the macroeconomic determinants of unemployment in ECOWAS countries using data from 1993 to 2021. The data were analysed using the panel fixed effect and random effect regression methods. It was found that real GDP growth and central bank asset to GDP ratio are significant macroeconomic determinants of unemployment while inflation rate and domestic private credit have an insignificant effect on unemployment in ECOWAS countries. It was also found that higher domestic private credit significantly decreases unemployment during periods of economic expansion while periods of deflation decrease the rate of unemployment in ECOWAS countries. Positive economic growth is associated with low unemployment in ECOWAS countries.
Journal: Int. J. of Sustainable Economy
Pages: 373-396
Issue: 4
Volume: 17
Year: 2025
Keywords: unemployment; economic growth; ECOWAS; real GDP growth; central bank; inflation; West Africa; domestic credit to private sector.
File-URL: http://www.inderscience.com/link.php?id=148979
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:4:p:373-396
Template-Type: ReDIF-Article 1.0
Author-Name: Bhagirath Prakash Baria
Author-X-Name-First: Bhagirath Prakash
Author-X-Name-Last: Baria
Author-Name: Devanshi Himanshu Mehta
Author-X-Name-First: Devanshi Himanshu
Author-X-Name-Last: Mehta
Title: Macroeconomic determinants of financial inclusion in India: an econometric perspective
Abstract:
Even though India has achieved significant milestones in improving financial access, there persists a large unbanked population whose financial participation can be leveraged for inclusive development. This paper examines India's tryst with financial inclusion from a macroeconomic perspective by employing a uniquely composed financial inclusion index while also modelling its determinants. Time-series data on diverse macroeconomic forces such as output growth, inflation, financial services cycle, and financial infrastructure are causally juxtaposed with financial inclusion. The study timeframe covers the entire post-reform period. A reduced-form single-equation econometric framework is employed. Findings indicate that the macroeconomic forces have shown prominence in shaping financial inclusion, challenging the predominance of microeconomic factors in the literature. Results are robust on both theoretical and econometric grounds. Novel insights are offered on the macroeconomics of financial inclusion in emerging economies like India along with valuable lessons for future developmental strategies.
Journal: Int. J. of Sustainable Economy
Pages: 397-422
Issue: 4
Volume: 17
Year: 2025
Keywords: development economics; econometric modelling; financial cycles; financial inclusion; macroeconomics; India.
File-URL: http://www.inderscience.com/link.php?id=148990
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:4:p:397-422
Template-Type: ReDIF-Article 1.0
Author-Name: Md. Atikur Rahaman
Author-X-Name-First: Md. Atikur
Author-X-Name-Last: Rahaman
Author-Name: Md. Afzal Hossain
Author-X-Name-First: Md. Afzal
Author-X-Name-Last: Hossain
Author-Name: Kanasani Rajesh
Author-X-Name-First: Kanasani
Author-X-Name-Last: Rajesh
Title: Relationship between industrial development and energy-related industrial CO2 emissions in Bangladesh: application of ARDL and LMDI models
Abstract:
This research investigates the relationship between industrial development and CO<SUB align="right"><SMALL>2</SMALL></SUB> emissions stemming from energy consumption in Bangladesh's industrial sector. Employing the ARDL bound test and LMDI decomposition index model, our analysis reveals that energy consumption and industrial development exert long-term positive effects on CO<SUB align="right"><SMALL>2</SMALL></SUB> emissions. LMDI decomposition index model shows that industrial economic activity and labour factor are the two key factors driving up CO<SUB align="right"><SMALL>2</SMALL></SUB> emissions. But only to the degree that industry energy intensity, emissions, and energy structure variables allow for the minimisation of CO<SUB align="right"><SMALL>2</SMALL></SUB> emissions. By elucidating these relationships and proposing actionable strategies, this study contributes to the discourse on responsible industrial development amidst the imperative to combat global warming.
Journal: Int. J. of Sustainable Economy
Pages: 345-372
Issue: 4
Volume: 17
Year: 2025
Keywords: industrial development; energy consumption; CO2 emissions; decompositions; decoupling; ARDL model; Bangladesh.
File-URL: http://www.inderscience.com/link.php?id=148991
File-Format: text/html
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Handle: RePEc:ids:ijsuse:v:17:y:2025:i:4:p:345-372
Template-Type: ReDIF-Article 1.0
Author-Name: Rajdeep Kumar Raut
Author-X-Name-First: Rajdeep Kumar
Author-X-Name-Last: Raut
Author-Name: Rohit Kumar
Author-X-Name-First: Rohit
Author-X-Name-Last: Kumar
Title: Gender in socially responsible investment: an application of norm activation model
Abstract:
Understanding the unprecedented impact of business operations on societal ethical and sustainable financial decision-making, this study focuses on investor's pro-environmental personal norms along with egoistic values and observes the comparative effect of male and female on socially responsible investment (SRI) intention in an emerging market. A two-step structural equation model was employed to analyse construct reliability and validity and to test hypotheses and overall model predictability. The results indicate that awareness of consequences (AC) and ascribed responsibility (AR) substantially impact personal norms. Personal norms based on AC and AR were shown to be significant but scored lower than economic or egoistic considerations for SRI. In addition, the relationship between the awareness of consequences and personal norms exhibited a full mediation effect of ascribed responsibility. The moderating role of gender was also established between egoism and intention of young investors.
Journal: Int. J. of Sustainable Economy
Pages: 442-462
Issue: 4
Volume: 17
Year: 2025
Keywords: sustainability; stock market; ascribed responsibility; egoistic values concern; socially responsible investment; SRI; NAM.
File-URL: http://www.inderscience.com/link.php?id=148993
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijsuse:v:17:y:2025:i:4:p:442-462