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

Author

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

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.

Suggested Citation

  • El Khoury, Rim & Min Du, Anna & Nasrallah, Nohade & Marashdeh, Hazem & Atayah, Osama F., 2025. "Towards sustainability: Examining financial, economic, and societal determinants of environmental degradation," Research in International Business and Finance, Elsevier, vol. 73(PA).
    • Handle: RePEc:eee:riibaf:v:73:y:2025:i:pa:s0275531924003507
    DOI: 10.1016/j.ribaf.2024.102557
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    Keywords

    CO2 Emissions; Ecological Footprint; Renewable Energy; Nonrenewable Energy; MENA;
    All these keywords.

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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