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

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

Research in International Business and Finance, 2025, vol. 73, issue PA

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.

Keywords: CO2 Emissions; Ecological Footprint; Renewable Energy; Nonrenewable Energy; MENA (search for similar items in EconPapers)
JEL-codes: F4 O13 Q2 Q3 Q43 (search for similar items in EconPapers)
Date: 2025
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0275531924003507
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:73:y:2025:i:pa:s0275531924003507

DOI: 10.1016/j.ribaf.2024.102557

Access Statistics for this article

Research in International Business and Finance is currently edited by T. Lagoarde Segot

More articles in Research in International Business and Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().