Financial inclusion and renewable energy in the face of extreme weather conditions: a CS-ARDL analysis of agricultural production in ASEAN-5

Shahzad Ali (), Tahreem Ejaz (), Ali Sajjad () and Rimsha Fiaz ()
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Shahzad Ali: Superior University Lahore
Tahreem Ejaz: Superior University Lahore
Ali Sajjad: The Superior University, Lahore
Rimsha Fiaz: The Superior University, Lahore

Economic Change and Restructuring, 2025, vol. 58, issue 3, No 15, 23 pages

Abstract: Abstract Extreme weather conditions have gained popularity among researchers; thus, this study got the opportunity to examine the nexuses between extreme weather conditions, financial inclusion, and agricultural productivity in ASEAN-5 countries (Malaysia, Philippines, Thailand, Pakistan, and Indonesia) using panel data from 1972 to 2023. In this regard, cross-sectional dependence, cross-sectional dependence, cross-sectional augmented Im, Pesaran, and Shin, and cross-sectional augmented dickey–fuller unit root tests and the CS-ARDL approach are considered the most effective methods for assessing the data and testing the hypothesis. According to the result, human capital, financial inclusion, and ICT are significantly promoted, and weather conditions are inverse to agricultural productivity. Consequently, the study suggests that the ASEAN-5 nations should implement adaptable, effective, and efficient financial policies and use advanced technology related to finance and weather forecasting to improve agricultural productivity.

Keywords: Agriculture productivity; Extreme weather conditions; Renewable energy; Financial inclusion; ICT (search for similar items in EconPapers)
JEL-codes: H11 O13 Q15 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s10644-025-09886-z

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