Work

Towards sustainability: Examining financial, economic, and societal determinants of environmental degradation

Year: 2024

Type: article

Abstract: We examine the determinants of environmental degradation, focusing on MENA economies from 1991 to 2020, with a particular focus on the role of sectoral composition. Specifically, we assess the contributions of the industrial, manufacturing, agricultural, and service sectors to GDP and their impact on environmental outcomes. Employing augmented mean group estimation, we evidence that technological advancements and renewable energy consumption significantly reduce environmental degradation, and that multinational corporations from developed countries transfer beneficial environmental practices to local firms in emerging regions. Results offer new insights into the impact of financial, economic, and societal factors on environmental outcomes.

Source: Research in International Business and Finance

DOI: 10.1016/j.ribaf.2024.102557

Authors: Rim El Khoury, Anna Min Du, Nohade Nasrallah, Hazem Marashdeh, Osama F. Atayah

Institutions: Abu Dhabi University, Canadian University of Dubai

Language: English

Topic: Energy, Environment, Economic Growth

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Responsible consumption and production, Decent work and economic growth, Climate action

Open Access status: hybrid

Estimated APC paid: $3,370