Effect of Financial Inclusion, Eco-Innovation, Globalization, and Sustainable Economic Growth on Ecological Footprint

Abstract

Although economic growth, globalization, and ecological footprint are extensively researched altogether, however, the literature on the role of financial inclusion, ecological innovation along with growth and globalization is still limited specifically in the context of MENA region. Thereby, The study aims to scrutinize the dynamic association between the above-stated variables while considering a range of statistical estimations and methods. Data is gathered from 1990 to 2017 for the stated panel economies entitled under the MENA region. It is observed that there exists cross-sectional dependence, having stationarity proprieties, and slope heterogeneity for the variables of interest. Furthermore, the findings through CS-ARDL indicate the significant and direct impact of financial inclusion economic growth, and globalization through GDP in creating more environmental issues like EFP. Whereas ecological innovation is significantly playing its role in reducing ED for the selected economies. Finally, robust checks through "Augmented Mean Group and Common Correlated Effect Mean Group" have also revealed consistent findings when examined through CS-ARDL. Besides, various policy implications are also presented in this research.

The impact of green intellectual capital on green innovation in Vietnamese textile and garment enterprises: mediate role of environmental knowledge and moderating impact of green social behavior and learning outcomes

“…Today, the textile and garment sector in the country employs close to 3 million people, making it to be one of the largest and most significant factors in its economic development. The sector contributes 16% of the nation’s total GDP and employs close to 5% of the workforce overall and about 12% of the industrial labor force (Hartani et al 2021 ; Tuyen et al 2019 ; Vu et al 2023a , b ).…”

Impact of Open Innovation on Globalization: A Survey Study on China

“…Thereby, a challenging situation is created for SMEs which they face in terms of increased prices and technological competition. Since, globalization appears to be dynamic and interactive in nature, hence, innovation is a gold ingredient in globalization concept and most of the firms, in order to stay in competition, need to be innovative to fulfill global requirements and criteria (Christiansen & Gad, 2019;Vu et al, 2023).…”

Revisiting the Relationship between Energy Price Fluctuations, Forestry, Environmental Governance, and Energy Transition on Carbon Emissions: Evidence from Indonesia

“…The short-term Granger causality tests reveal that there are causal relationships that flow in both directions, from non-RE sources like CO 2 emissions and international commerce to sources of RE. Similarly, Vu et al (2023b), investigated the nexus between CO 2 emission, renewable as well as non-RE production, economic growth, and international trade. The investigation was carried out in Italy.…”