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Unquestionably, all countries prioritize maintaining peace and fostering long-term sustainable economic growth. For this purpose, this study assessed the impact of military expenditure on economic growth using a multivariate regression model based on the enhanced production function in the presence of energy consumption. The study clustered 48 Islamic countries into their income levels over the period from 1990 to 2018, and using the dynamic common corrected effects in determining the elasticities of the explanatory variables. The empirical results revealed a negative effect of military expenditure on economic growth and the elasticity of military expenditure to economic growth was lowest in upper-middle-income countries than in the other three groups. In the main panel a 1% increase in military expenditure led to a 0.101% decrease in economic growth. The results of the paired Dumitrescu Hurlin panel causality test revealed a bidirectional causal affiliation between economic growth and military expenditure. In addition, the empirical findings revealed that the levels of military expenditure, as a component of total government expenditure, are too high in the employed economies and need to be transferred toward more productive non-military expenditure in order to improve the economic growth performance and other growth determinants. [ABSTRACT FROM AUTHOR]

There has been a phenomenal global increase in the proportion of women in politics in the last two decades, but there is no evidence of how this has influenced economic performance. We investigate this using data on competitive elections to India's state assemblies, leveraging close elections to isolate causal effects. We find significantly higher growth in economic activity in constituencies that elect women and no evidence of negative spillovers to neighbouring male-led constituencies, consistent with net growth. Probing mechanisms, we find evidence consistent with women legislators being more efficacious, less corrupt and less vulnerable to political opportunism. [ABSTRACT FROM AUTHOR]

In recent years, environmental concerns have emerged as significant obstacles to economic advancement, leading to a critical examination of the complex relationship between environmental sustainability and economic expansion. With the economy expanding swiftly and environmental hazards intensifying, immediate action must be taken to address these problems. This necessitates innovative policies and practices that foster sustainable economic growth while minimizing environmental impact. To solve these issues, this study proposed an extensive analytical framework employing machine learning techniques, particularly artificial neural networks (ANNs), to investigate the Environmental Kuznets Curve (EKC) hypothesis. According to the EKC hypothesis, environmental degradation worsens before economic growth occurs. This study examines GDP per capita and key environmental indicators to measure economic development, using data from Anhui Province, China, from 2012 to 2019. The analysis provides empirical support for the theory and establishes a modeling framework that seamlessly integrates ML methodologies with EKC analysis, systematically examining and assessing the EKC's reliability for Anhui Province. The intricate interplay between Anhui Province's environment and economy, utilizing industrial waste gas, wastewater, and solid waste as critical indicators, evaluates environmental quality. At the same time, per capita GDP is the economic growth parameter. The findings indicate that the EKC does not adhere to an unchanging law but instead displays variations in distribution characteristics. The experimental results of the proposed ANN model demonstrate an impressive accuracy rate of 87%, outperforming five alternative models, including RF, KNN, DT, and LR. This superior model performance underscores the effectiveness of the ANN-based approach in capturing the intricate dynamics linking economic development and environmental pollution. [ABSTRACT FROM AUTHOR]

The growing interest in the Management of Eco-Friendly Supply Chains warrants this study. Green supply chain management (GSCM) is an approach to supply chain management (SCM) that takes into account environmental factors. Therefore, GSCM is vital in shaping the cumulative environmental effect of businesses engaged in supply chain operations. In addition, GSCM may help improve the effectiveness of sustainability initiatives. Manufacturing companies, particularly in developing nations like India, are trying to adjust essential procedures and supply chains because of the rising need to be ecologically sustainable. However, such efforts must be deployed strategically to be ecologically sustainable and economically successful. As a result, this study focuses on the relationship between green supply chain management and education that affect environmental sustainability and economic performance. As a further step toward more sustainable development, the mediating function of education is sustainable economic growth and environmental health. The data was collected by distributing a well-crafted questionnaire to manufacturing facilities in India. We employed PLS-SEM to analyze and interpret the data test hypotheses based on data from 415 replies. The findings point to cost and profit as the primary metrics of corporate success. Disposal of trash, usage of resources, and release of greenhouse gases are alternative measures of environmental sustainability. Distributed online links and in-person interviews with employees at companies throughout India who use GSCM procedures provided the basis for the study's primary data set. The data was gathered with the use of an organized survey form. The findings of tests conducted on the hypotheses were considered. According to this research, cost, profit, waste, resource, and GHG emission impacts vary depending on which GSCM techniques are implemented. Green supply chain management strategies significantly affect price, trash disposal, resource utilization, and GHG emissions. There was no discernible trend between GSCM methods and financial success. In addition to discussing the unique elements of sustainable supply chains and the limits of current research, this article also discusses how a company's bottom line will benefit monetarily from establishing a sustainable supply chain. This should inspire more study in this area. Our investigation revealed patterns and voids, and we used that information to outline a thorough plan for future GSCM studies. The research helps manufacturing company management improve their sustainable policies while providing policymakers with pointers. [ABSTRACT FROM AUTHOR]

The value of environmental safeguarding is rising in both private and public spheres. What is meant by the term "green supply chain management" (GSCM)? It is minimizing the negative effects of a company's operations on the natural world. Particularly in the research and academic disciplines of the expanding economy of the China region, the concept of the intersection of green supply chain management and sustainable development is dissected at a foundational level. However, there has been little attention paid to how GSCM, GHC, environmental performance, and economic performance all relate to one another. This study fills that void in the literature by giving hard data to encourage businesses in the China area to adopt GHC (green human capital) and SCM (sustainable supply chain management) in order to significantly improve their environmental and economic outcomes. To better understand the interplay between these ideas, we constructed a conceptual framework. The information was gathered using a survey consisting of questionnaires. Manufacturing companies from ten (10) different areas in China provided the 470 responses. The information was analyzed using structural equation modeling (SEM). Research shows that green human capital and green supply chain management have a beneficial influence on economic performance but no discernible effect on environmental outcomes. The results also demonstrate that green supply chain management is an effective act as a mediator between environmental performance and economic performance, with a beneficial effect on both. An initial conclusion may be made that bettering the green human capital stock was more important for China's green economy's growth than bettering the human capital structure. Research like this helps fill out the picture of the green economy and informs policy decisions at the national level. [ABSTRACT FROM AUTHOR]

This study emphasizes the impact of carbon inequality on the economic growth of Middle East-North African (MENA) economies from 1995 to 2019. By employing the panel cross-sectionally augmented autoregressive distributed lags method (Chudik and Pesaran 2015), we explored the effect of the carbon footprint of top-income classes on economic performance in both the short and long term. The empirical results assume that carbon inequality indicators boost economic growth in the short and long run. In other words, economic growth may be slowed when carbon inequality is reduced. Our study has important implications for climate policy in the MENA region. In this context, relying on a carbon tax can increase business costs and reduce investment incentives leading to a decline in growth. Governments should adopt a more comprehensive approach incorporating other policy instruments such as nudging techniques, financial incentives, and public awareness campaigns. As a result, wealthy people will be encouraged to promote sustainable choices and behaviors that guarantee the progressive transition to low-carbon activities without hurting economic growth. [ABSTRACT FROM AUTHOR]

The study aims to extend the understanding of environmental and economic considerations on tourism activities in achieving sustainable development goals. The motivation of the study is to provide the empirical inference of variables based on study topicality and the implications to achieve SDG 8 and SDG 9 specifically. The study used panel data from 2000 to 2021 to check for cross-sectional dependency and performed various panel unit root tests to verify the unit root properties of the variables. With the help of Pedroni and Kao's statistical results, we confirm variables are integrated. The results from OLS modified and dynamic demonstrate the correlation between transformation, measured by patents and publications, and higher economic performance and lower environmental hazard, emphasizing the role of transformation. The results also show that tourism arrivals have a significant positive effect on reducing pollution hazards and increasing economic performance, which shows progress toward sustainable development. Based on the study, it was determined that the contribution of asylum seekers did not positively impact the host countries' economic conditions or environmental improvement initiatives. It was found that higher levels of education play a crucial role in promoting sustainable development through economic growth and mitigating environmental risks. To achieve sustainable development in the G20 economies, promoting tourism, undertaking transformational measures, and enhancing higher education are recommended. These results have significant implications for policymakers, firms, and an agenda of the United Nations sustainable development program. [ABSTRACT FROM AUTHOR]

The high-tech industry, as a two-stage system consisting of technology development and economic transformation, plays an important role in the transformation and upgrading of China's economic development. Productivity analysis is the primary method for assessing the performance of economic growth. Hence, it is important to accurately measure productivity changes, which can provide valuable guidance for its further development. Accordingly, based on the provincial-level sample data of the high-tech industry, this paper measures the productivity changes of the whole system and each stage by adopting Malmquist and Hicks–Moorsteen indices both under the convex and nonconvex measures. Further, a comparative analysis of productivity changes from the national and regional high-tech industry perspective has been performed. Empirical results suggest that productivity changes differ significantly among the national, Eastern, and Northeast regions only for the variable returns to scale assumption under the nonconvex measure, specifically for the whole system. Moreover, more contradictory results between Malmquist and Hicks–Moorsteen indices occur under variable returns to scale and nonconvex technology. Furthermore, productivity growth for the whole system is primarily attributed to that of the technology development stage, except for the Central region. In addition, the differences in productivity changes across regions are reduced. Finally, some constructive suggestions have been made so that policymakers can provide theoretical references when making decisions for the high-quality development of the high-tech industry. [ABSTRACT FROM AUTHOR]

This paper examines Myanmar's economic structure and its sources of economic growth during the period of economic reformation from 2010 to 2015. The study compares the economic performance of Myanmar with that of four other ASEAN countries employing the backward linkage and deviation from proportional growth (DPG) approaches. The data used for the analysis are sourced from the Eora global database and the Asian Development Bank's database. During 2010–2015, Myanmar experienced significant gross production expansion with the growth rate of 1.84 times, which stands as the highest among the selected countries. Despite its high economic growth, Myanmar lags behind the four other ASEAN countries in terms of industrialization and international trade. Myanmar's economy mainly relies on domestic market with poor international trade record. The analysis of backward linkages reveals that the transport equipment sector made the largest contribution to output growth in Myanmar. On the other hand, DPG approach indicates that Myanmar's economic growth during 2010–2015 can be mainly attributed to the expansion of the public administration sector, driven by increased consumption and public and private investment. Industrialization remained underdeveloped until 2015 with the manufacturing sectors not significantly impacting on economy and export growth. Despite some improvements in manufacturing sectors after 2016, the promotion of the manufacturing sectors and agriculture sector is still necessary to foster export and output expansion. [ABSTRACT FROM AUTHOR]

Digital finance is an innovative financial model of great significance for sustainable economic growth. By constructing indicators of sustainable economic growth, we explore the impact of digital finance on sustainable economic growth using the fixed effect model, mediating effect model, threshold regression model, and dynamic spatial Dubin model. The study finds that digital finance can drive sustainable economic growth, and the robustness and endogenous treatment results strongly verify this. Digital finance promotes sustainable growth mainly through technological innovation. In addition, with technological innovation and the development of renewable energy, there is a significant nonlinear relationship between digital finance and sustainable economic growth. Finally, the spatial spillover effect results show that digital finance's impact on sustainable economic growth has a positive effect, whether it is a direct effect or an indirect effect. This article provides possible ideas for digital finance to promote sustainable economic growth. [ABSTRACT FROM AUTHOR]

The generally held belief is that government spending on education and research and development is to bring about direct impacts on the advancement and sustainability of an economy. Nonetheless, this evidence is not prevalent within industrialized and third-world economies, particularly among the foremost ten carbon dioxide releasing economies. Therefore, the OLS and the DEA are used to estimate the relationship between government public spending on research and development plus green economic advancement, utilizing data from several countries between 2008 and 2018. The findings reveal a varying green economic expansion indicator, which is a result of inadequate government programs to deliver results. Subsequently, for types of expenditure where formal juxtaposition can be made, such as RE compared with conventional energy, the authors detect that multipliers on green cost are almost twofold their traditional sources. The point approximate of the multipliers is 1.1–1.7 for green energy financing and 0.4 and 0.7 for conventional energy financing, depending on time and modeling. These results passed all the required sensitivity analyses. They provided backing to the bottom-up analysis, which reveals that controlling global warming, including preventing biodiversity extinction, works hand in hand with creating economic development and advancement. [ABSTRACT FROM AUTHOR]

This study aims to investigate the relationship between environmental rationality and economic activities that accelerate environmental indicators in Asia. In the ecosphere, the environment is a predator of human consumption. The continent Asia holding more than 60% of the world's population is vulnerable to environmental deployment. The purpose of the study is to find the link between economic growth, globalization, biocapacity, energy intensity, and renewable energy to the ecological footprint (EFP) in Asian countries for the period of 1990–2017. For empirics, the econometric techniques applied are panel OLS, fixed effects, random effects, fully modified-OLS, DOLS, and generalized methods of moments techniques. The results prove that by increasing the share of renewable energy in total energy consumption the environmental quality is improved. The Pedroni cointegration test shows a long-term relationship exists between globalization, economic growth, and the environment. The results of all techniques show the similar effectiveness of all used economic indicators in the model that disturbs the environment with different intensities in each test. The results of FM-OLS show that with a 1% increase in economic growth, globalization, biocapacity, and population density the ecological footprint increases by 0.55%, 0.08%, 0.06%, and 0.03%, respectively. However, renewable energy improves the environment by 0.04%. The Granger causality analysis revealed a bidirectional causality between ecological footprint and globalization and between EFP and energy intensity. This study recommends that Asian countries should make sustainable environmental policies to protect the environment from further damage. [ABSTRACT FROM AUTHOR]

Even though health expenditures are one of the significant determinants of accumulation of human capital and economic growth, researchers have paid less attention to unveiling interactions between health care expenditures and economic performance. The main objective of this study is to investigate disaggregated health care expenditures and economic growth nexus in Türkiye from 1979 to 2019 by using an asymmetric causality approach. The main empirical findings could be briefly summed up as follows: there exist asymmetric causal effects running from total health expenditures, out-of-pocket health expenditures and voluntary health expenditures to economic growth, while there is no asymmetric causal effect from compulsory health expenditures to economic growth. The policy inferences of empirical results for enhancing the productivity of health expenditures are stated in the body of the paper. [ABSTRACT FROM AUTHOR]

This paper first proposes a theoretical framework outlining the links from the deep determinants of modern-day institutional environment towards the countries' economic performance, and second tests these links to find the evidence of the spatial spillover effects of institutional proximity on economic growth. Utilizing spatial fixed effects estimation on a sample of 85 countries over a period 1990–2019, and measuring the countries' spatial interdependence via both geographical and institutional proximities, this paper finds evidence on the presence of spillover effect of economic institutions and institutional proximity on countries' growth process. Specifically, this paper shows that institutionally similar countries (i.e. countries with similar legal and colonial origins) would have greater spatial growth effects than countries that are geographically closer, and the results are robust to various model specifications. The novel finding is with regard to the unique spatial dimension of growth based on the concept of institutional proximity which imply that the policymakers must not ignore a country's spatial interdependence; they must not be concerned with the development of institutional settings within their own country since there is a potential spillover effect of growth determinants from its neighbours, be it geographical or institutional. [ABSTRACT FROM AUTHOR]

Natural resources are extremely important to the economy, particularly in emerging nations such as the MINT (Mexico, Indonesia, Nigeria, and Turkey) nations. To improve their economic performance, such nations put a priority on maximizing the use of natural resources. These natural materials are the basis on which all living creatures rely, and they are the primary motivation behind contemporary production. Therefore, the current research utilizes a dataset spanning the period from 1970 to 2019 to assess the effect of natural resource on economic growth for the MINT nations. The present study uses a unique quantile-on-quantile regression (QQR) approach to assess this interrelationship. Furthermore, we apply the novel quantile causality suggested by Troster (2018), which identifies causality across quantiles. The findings from the QQR reveal that in the majority of the quantiles, the effect of natural resources on economic expansion is positive in Nigeria and Mexico, while it is negative in Indonesia and Turkey. In addition, a feedback causality is found between economic growth and natural resources for Mexico, Indonesia, and Nigeria. Based on the results, it is paramount for policymakers to develop policies or frameworks that promote cleaner energy sources and more effective use of natural resources, which can aid the country's economic growth. [ABSTRACT FROM AUTHOR]

Background/Objectives: Many economies are on the trajectory of alternative growth drivers other than conventional capital and labor. Access to credit facilities is a pertinent indicator of economic growth. In line with the United Nations Sustainable Development Goals (UNSDGs-8) agenda, the national goal for sustainable development for most economies and Arab economies is no exception. Therefore, the current study adopts a traditional growth model by exploring the relationship between gross domestic product (GDP) per capita, credit for private sectors, ratio of exports, real GDP, and per labor force participants for selected Arab economies annually from 2001 to 2020. Research design: This study leverages the Fourier Kwiatkowski–Phillips–Schmidt–Shin (KPSS) unit root test and second-generation panel econometrics as estimation techniques, such as Westerlund and Edgerton panel cointegration test, and the use of two estimators, namely the augmented mean group (AMG) and common correlated error mean group (CCEMG), to obtain robust results. Findings: Empirical findings from Westerlund and Edgerton panel cointegration tests validate the long-run equilibrium relationship among the outlined variables. Further empirical results indicate that the share of exports is negatively significant with economic growth in countries such as Kuwait, Lebanon, Tunisia, and Jordan. Additionally, savings and labor force participation have a positive relationship with economic growth in individual countries such as Algeria and Bahrain. As per the panel, there is no significant relationship between labor force participation and economic growth. This indicates that the skilled labor force enhanced economic growth. Conclusions: These findings come with inherent far-reaching policy suggestions for economies and panels. Further details on country-specific policy actions are presented in the concluding section. [ABSTRACT FROM AUTHOR]

Given its tremendous natural resources, on the one hand, and its poor economic performance, on the other hand, the role of mining resources in the Guinean economy is often seen as a paradox. Guinea is one of the world's major bauxite producers for several decades. Based on this fact, this study aims to investigate the relationship between bauxite mining and economic growth in Guinea. We address this issue using both autoregressive distributed lag (ARDL) and nonlinear autoregressive distributed lag (NARDL) models on annual data from Guinea over the period 1986–2020. Our results reveal that bauxite production has a positive impact on economic performance in Guinea. More precisely, the results indicate that, overall, bauxite production has a positive impact on both GDP and GDP per capita both in the short and long run. However, overall, this impact is statistically significant only in the short run. [ABSTRACT FROM AUTHOR]

This paper hypothesizes that the structure of macroeconomic governance with its financial and non-financial dynamics is, among other things, a key determinant of economic performance, taking the case of the United States from 1952Q1 to 2018Q4. The paper tests its hypothesis by developing three modes of macroeconomic governance based on complementarities and a time-series model to be used for the empirical analysis of these modes and by using a linear and nonlinear Autoregressive Distributed Lag cointegration model. In so doing, the paper compares five periods between 1952Q1 and 2018Q4 using the same time-series model to illustrate how the changing structure of macroeconomic governance affects long-term economic performance over time. The paper reaches three conclusions. First, higher economic performance in 1952Q1–1968Q3 originates in, among other things, a systemic mode of macroeconomic governance. Second, lower economic performance in the three sub-periods between 1968Q4 and 2008Q2 is due to a fragmented mode of macroeconomic governance. Third, the sharp decline in economic performance in 2008Q3–2018Q4 originates in the outbreak and deepening of a structural trap due to long-run structural fragmentation. [ABSTRACT FROM AUTHOR]

Different chronicles of the Byzantine Empire's history have noted various economic data gleaned from historical documents and accounts of the Empire's existence. I provide conjectures on approximate real GDP per capita for the Empire over its existence from AD 300 to 1453. I use these to investigate whether climate forcing variables are associated with real GDP per capita fluctuations. Some hypotheses on factors that would have affected Byzantine economic performance are tested using climate/environmental factors in time series regression. The results support and confirm some findings on how the Byzantine economy may have been affected by periods of regional climate change. [ABSTRACT FROM AUTHOR]

Very few studies exist in rationalizing comprehensively the relationship between market integration and green economic growth in China. This paper tries to answer the question whether and how market integration influences regional green economic growth in China. Based on the panel data of 285 city-level regions from year 2004 to 2018 in China, this paper develops explanatory mechanism and discusses the influence theoretically and empirically. To advance the analysis, we construct market integration indicator through relative price variance method based on commodity retail price index and employ the Malmquist–Luenberger (ML) productivity index and DEA-SBM (data envelopment analysis–slacks-based measure) model to evaluate green total factor productivity (GTFP) as indicator for green economic growth. Our empirical findings are: (1) Apparent regional imbalance exists in both the development of market integration and green growth and gaps are expanding from year 2004 to 2018. (2) Market integration promotes regional green growth significantly. (3) Mechanism analysis illustrates that market integration fosters green growth through economies of scale effect, composition effect and spillover effect, respectively. (4) Heterogeneous analysis suggests that the influence from market integration on green growth varies depending on region's difference in traffic situation and in overall development level. [ABSTRACT FROM AUTHOR]

In order to achieve the goal of sustainable green economic development, it is necessary to conduct a comprehensive assessment of the efficiency of the green economy and compare it with emission reductions. The green economy idea is a much-discussed solution to economic growth. Therefore, this study investigated the impact of government spending on the performance of the green economy of various countries under the "Belt and Road" (BRI) initiative project. The data were analyzed using the BRI economy panel data from 2008 to 2018. The generalized method of moments (GMM) was used to estimate the effect of government expenditures on education and research and development (R&D) on green economic performance index (GEE) in BRI countries. The results reveal that during the study period, BRI countries have experienced an upward transition towards green development, except for Pakistan and Bangladesh; their GEE decreased gradually from 2010 to 2018. Further, the findings of the system GMM revealed that both education and R&D have a positive impact on the green economy. Moreover, the compositional and technological effects of the overall sample were verified with the GMM process. Nevertheless, the sub-sample results revealed a heterogeneous impact on countries with a high per capita GDP. Following the results, useful policy measures for promoting sustainable green economic development have been proposed. [ABSTRACT FROM AUTHOR]

Waste recycling significantly contributes to reducing carbon emissions and other greenhouse gases, leading to enhanced environmental performance and safeguards natural resources. Therefore, this study examines municipal solid waste recycling and energy efficiency's impact on the environmental performance and economic well-being of the USA. Some studies have emphasized the usefulness of MSW and its indicators, but most of them are survey-based and illustrate the scientific process of disposing of waste. Hence, the study intends to analyze the connection among considered variables using the recently developed and advanced estimation procedure of nonparametric causality in quantile approach by analyzing the quarterly dataset for 1990(Q1) till 2018(Q4). Through this technique, we have examined the causal relationships in different quantiles. The causality-in-quantile outcome indicates the acceptance of the null hypothesis in different quantiles, especially at low and high tail quantiles, while at some quantiles, the null hypothesis rejection is highlighted. This study suggests valuable implications for future studies, government, environmentalists, and policymakers. [ABSTRACT FROM AUTHOR]

Should procedural barriers to constitutional amendment be more onerous than those to the policy changes of ordinary politics? – i.e., should constitutions be entrenched? One criterion by which to evaluate these questions is economic performance. Using data on countries worldwide and constitutional adoptions from 1973 to 2017, we estimate the effect of constitutional entrenchment (rigidity) on economic growth. We employ matching methods to make causal inferences. The adoption of a constitution that is meaningfully more rigid than its predecessor defines a treatment. In our benchmark estimations (based on 19 treatments), post-treatment effects on growth are generally small and statistically insignificant. However, when we examine a subsample that excludes autocracies (13 treatments), post-treatment effects are always negative and sometimes statistically significant. The same is true when we exclude treatments associated with coups (12 treatments). Contrary to many scholars' priors, the evidence suggests that, if anything (and based on the limited number of available treatments), greater entrenchment causes less economic growth. [ABSTRACT FROM AUTHOR]

How important a good ESG performance is for GDP per capita? In this paper we examine the economic effect of environmental, social and governance (ESG) performance in 29 OECD countries over the 1996–2014 period, using panel cointegration techniques. The application of cointegration methodology allows distinguishing between long run and short run effects. We find that, while there is a positive relationship between ESG and GDP per capita in the long run, such relationship does not exist in the short run. However when allowing for heterogeneity in the short term dynamics (Pooled Mean Group), two countries (Iceland and South Korea) benefit in the short run (w.r.t. GDP per capita) from their ESG performance. [ABSTRACT FROM AUTHOR]

Given the complexity of the correlation of economic growth with financial development, and their interactive impacts on environmental quality, this study attempted to present new insights into indecisive outcomes from the contribution of financial development in determining the impressionability of environmental indicators under economic growth conditions. Previous studies only employed a single environmental indicator for analyzing the correlation between economic factors and environmental quality. However, six environmental indicators are adopted in this study to evaluate environmental quality and to reach major goals of this research. To this end, using 2-stage system generalized technique of moment estimator, the association of economic growth, energy consumption, financial development, environmental indicators, and trade openness is determined in selected OPEC countries for years 2010 to 2019. Findings indicated that accompanied by the effects of economic growth on any EFI, ANS, PN, and EPI variables, the financial development enhances such effect. This is while, the financial development would weaken the economic growth effect on the ESI variable. Regarding EVI, no significant association was observed. Regarding to ESI, EPI, and PN, trade openness applies a significantly positive impact on environmental quality; on the other hand, it has positive role in environmental degradation based on EFI and ANS. This is while, according to the EVI variable, trade openness has not meaningful impact on environmental status. Finally, energy use has significant and positive effects on environmental degradation in each of environmental indicators. However, this variable has not shown significant impact on EPI and ANS. Alternatively, findings indicated that financial development can be considered an important and key variable in improvement of the environmental quality due to the moderating role it plays relative to the negative economic growth effect on the environmental quality. At the end of this paper, some limitations are presented, and some suggestions for further studies are provided as well. [ABSTRACT FROM AUTHOR]