Current Issue : October-December Volume : 2026 Issue Number : 4 Articles : 5 Articles
The transition toward low-carbon economies has become a central environmental priority worldwide, requiring nations to allocate adequate resources for conservation efforts. However, emerging economies often face chronic shortages of environmental conservation funds, constraining their progress toward sustainability. Addressing this challenge, the present empirical study examines the dynamic influence of techdriven financial development on national environmental conservation funds, with IT governance introduced as a moderating factor. Using a panel dataset of 55 emerging economies from 2004 to 2023, the analysis employs the two-step system generalized method of moments (sys-GMM) and dynamic panel data estimation (DPDE). The results reveal that both tech-driven financial development and IT governance significantly increase environmental conservation funds, with coefficients of 1.633 (p < 0.05) and 1.272 (p < 0.01), respectively. Moreover, their interaction produces a further positive moderating effect, with a coefficient of 1.294 (p < 0.01), indicating that strong IT governance enhances the effectiveness of tech-driven financial systems in scaling and optimizing environmental conservation funds. These findings underscore the need to integrate technological innovations in finance with robust IT governance frameworks to strengthen environmental financing in emerging economies. Policy recommendations are offered based on the empirical outcomes. The empirical investigation conclusively demonstrates that both tech-driven financial development and robust IT governance serve as pivotal catalysts for the mobilization of environmental funds within emerging economies. Crucially, the observed synergistic interplay between these two elements indicates that well-structured digital governance frameworks significantly amplify the efficacy of financial technology in channeling resources toward environmental conservation....
As global resource depletion and environmental challenges continue to intensify, the circular economy has emerged as a critical strategy for firms pursuing sustainable development. This study integrates the perspectives of circular economy, the resource-based view (RBV), and stakeholder theory, and incorporates a system dynamics approach to construct a causal feedback model of circular economy systems. First, through a comprehensive literature review and systems thinking, this study develops a causal loop diagram (CLD) that captures the dynamic interactions among key elements, including firms, resources, design, products, consumers, recycling, and waste, thereby illustrating the underlying mechanisms of circular economy operations. Subsequently, the CLD is transformed into a structural equation model (SEM), and empirical analysis is conducted using 134 valid questionnaire responses. The results indicate that significant and positive causal relationships exist among the constructs. In particular, resource-based design advantage is identified as the core driving factor of the system, influencing waste reduction through circular recycling and resource circulation mechanisms. Moreover, the interaction between reinforcing feedback loops and balancing feedback loops forms a dynamic equilibrium within the circular economy system. The findings not only validate the theoretical framework of circular economy systems but also provide practical implications for firms in terms of resource allocation, product design, and recycling management, thereby facilitating resource circulation and sustainable development....
This paper explores how financial development and income inequality interact across different country income groups and what this means for business environments and market participation in both emerging and advanced economies. Using an Unobserved Components Model (UCM) with time-series data covering 1990–2023, the analysis shows that the link between finance and inequality varies markedly with the level of economic development. An inverted U-shaped relationship appears only in high-income and uppermiddle- income countries, suggesting that once financial systems reach a certain level of maturity, further deepening tends to support more inclusive outcomes. By contrast, in lower-middle-income countries, financial development is associated with a positive and monotonic increase in inequality, while in low-income countries, the relationship remains weak, unstable, and statistically insignificant. A closer breakdown indicates that financial markets, rather than financial institutions, play a stronger role in influencing inequality in higher-income economies. Overall, the findings highlight that the distributional impact of financial development—and its implications for business conditions, market access, and investment incentives—is strongly income-dependent, reinforcing the need for financial frameworks that align with countries’ stages of development....
Understanding the current world economy involves both tangible aspects, such as exchanges of goods, services, and labor, and intangible aspects, such as financial flows, technologies, and information, approached from multiple complementary theoretical perspectives. Economic development is a multidimensional concept that involves moving from a simple quantitative increase to a complex improvement in the economic and social parameters of a country or region. The world economy is not static, but is undergoing a continuous structural transformation, driven by technological and demographic developments and shifts in the balance of economic power. The 21st century has already brought major structural changes and is expected to bring more as new factors make their influence felt. One transformation has been the shift of the economic center of gravity towards Asia and the emerging economies. The impact of Artificial Intelligence (AI) is also considered from the perspective of global power centers. While it is not the primary focus of this paper to provide an exhaustive technical analysis, we highlight the significant global debate regarding its implementation. AI is increasingly viewed as a catalyst for economic fragmentation; as it becomes central to global growth, geopolitical divisions in this field become systemically costly and may lead to new regulatory divergencies. As a quite fresh example is the war in Middle East (Gulf Zone), with immediate influence on economies and people. The losses occurred as financial markets around the world continue to watch for cues from oil prices. Sharp rises have raised concerns that a prolonged rise could hurt the global economy, sap households’ ability to spend and push interest rates higher. We tried to synthesize our own conviction regarding the snapshot of today’s economic situation, which is an obvious one in fragmentation in blocs, altogether with a cleavage in Economics. Also, it is needed to rethink the economic powers’ role, and the necessity of winwin game for the sustainability of the world economic construction and functioning....
1. Biodiversity is increasingly recognised as a material (i.e. significant) risk to corporate value creation due to links with climate risk, land use and social equity, and through growing engagement with frameworks, such as the Taskforce on Nature-related Financial Disclosure and Science-Based Targets Network. Whilst nature loss manifests as operational, regulatory, reputational and financial risks, nature-related opportunities are also unlocking differentiation, new revenue (e.g. nature-based solutions and ecosystem markets), resilience and improved access to capital. 2. Emerging methods driving the nature economy are building on, and beyond, climate governance architectures to the non-fungible, multidimensional nature of biodiversity. This Special Feature presents a range of methods that are translating this complexity into formats that are digestible and usable by business and finance. It covers integrative indicators for Nature Positive; ecosystem-condition assessment (including simulation state-and- transition models and leading indicators of restoration); corporate and farm-scale natural capital accounting; and impact/dependency tools spanning life cycle assessment (and how we address uncertainty transparently), biodiversity footprinting, risk screening for indirect impacts and practical species distribution models for applied decisions. 3. The papers in this Special Feature showcase a young and dynamic field, where smart approaches and creative thinking are balanced with thoughtful scientific practice to ensure guardrails for credible and trustworthy outcomes. They also address key challenges facing the integration of ecological science into business-practical formats across the conceptual and applied, and at a range of scales from site-based to global measurements. 4. As we improve our capacity to observe, represent, attribute and aggregate business and biodiversity data, we urge ecologists to work across disciplinary boundaries, partnering with economists, data scientists and business leaders to continue the development of methods that are scalable, interoperable and grounded in ecological reality....
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