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38 pages, 8350 KB  
Article
Trajectories, Fairness, and Convergence: Global Development in a Multidimensional Econo-Environmental Capability Space
by Muhammad Hasan Imaduddin, Soumya Basu and Hideyuki Okumura
Economies 2026, 14(1), 16; https://doi.org/10.3390/economies14010016 - 8 Jan 2026
Viewed by 263
Abstract
This study examines global econo-environmental capability for 118 countries over 1995 to 2024 using a five-lens framework covering productive capacity (PC), developmental momentum (DM), resource efficiency (RE), degradation and depletion ratio (DDR), and remaining development potential (RDP). Using pooled k-means, a stable four [...] Read more.
This study examines global econo-environmental capability for 118 countries over 1995 to 2024 using a five-lens framework covering productive capacity (PC), developmental momentum (DM), resource efficiency (RE), degradation and depletion ratio (DDR), and remaining development potential (RDP). Using pooled k-means, a stable four archetype typology is identified and shown to persist over time. The analysis assesses how archetypes characterize country–year outcomes (RQ1), whether cross-sectional fairness is changing and relates to frontier slowdown (RQ2), and how archetypes, distance, and regional context shape transition probabilities and club convergence (RQ3). Inequality in five-dimensional capability declines slightly over the period (Gini from 0.109 to 0.092 and Palma from 1.563 to 1.464), implying modest convergence rather than increasing polarization. Average capability also improves, with larger gains for initially distant countries and smaller gains near the frontier, which is consistent with mild club convergence. Regionally, high capability cases are concentrated in Western Europe and North America, while sustained upgrading is observed in parts of Eastern Europe, mixed stability is observed in East and Central Asia, and selective advances are observed in ASEAN. Policy implications should be based on a country’s archetype and its distance to the capability ideal. Lagging countries should prioritize diffusion of proven high efficiency options and basic capability building, while frontier countries should priorities innovation, structural change, and deeper decarbonization. Policy emphasis should be updated as countries move within the capability space over time. Full article
(This article belongs to the Section Economic Development)
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17 pages, 887 KB  
Article
Unpacking the Linkages Between Industrial Position in Global Value Chains and Sustainable Economic Growth
by Josephine Wuri, Lukas Purwoto, Yuliana Rini Hardanti, Laurentius Bambang Harnoto and Maria Griselda Delwella Papur
Sustainability 2025, 17(23), 10629; https://doi.org/10.3390/su172310629 - 27 Nov 2025
Viewed by 504
Abstract
Global economic developments are currently facing economic fluctuations and the climate change crisis, which demand a development approach that integrates growth with environmental sustainability. Although participation in Global Value Chains (GVCs) has become the backbone of the global economy, many countries, including Indonesia [...] Read more.
Global economic developments are currently facing economic fluctuations and the climate change crisis, which demand a development approach that integrates growth with environmental sustainability. Although participation in Global Value Chains (GVCs) has become the backbone of the global economy, many countries, including Indonesia and most ASEAN countries, are still in upstream positions with high carbon intensity and low added value. This condition hinders sustainable economic growth and contributes to increased global emissions. This study aims to analyze how the position of the industrial sector in the GVCs can drive sustainable green economic growth. Using data from five ASEAN countries for the 2010–2023 period, this study employed the Generalized Method of Moments (GMMs) dynamic panel model to address the issues of endogeneity and individual heterogeneity. The results show that movements to upstream positions in GVCs, FDI, and political stability have a significant and positive impact on green economic growth. These findings highlight the need for tailored policies to encourage the development of green industries and improve global competitiveness. Full article
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31 pages, 414 KB  
Article
Board Tenure and Specific Skills as Determinants of ESG Reporting: Evidence from ASEAN Listed Companies
by Bella and Arie Pratama
J. Risk Financial Manag. 2025, 18(12), 667; https://doi.org/10.3390/jrfm18120667 - 25 Nov 2025
Viewed by 1014
Abstract
This study investigates the influence of board characteristics—specifically board tenure and board-specific skills—on the quality of ESG reporting among listed firms in five ASEAN countries (Indonesia, Malaysia, Singapore, Thailand, and the Philippines) from 2021 to 2023. Using panel data of 609 firms (1827 [...] Read more.
This study investigates the influence of board characteristics—specifically board tenure and board-specific skills—on the quality of ESG reporting among listed firms in five ASEAN countries (Indonesia, Malaysia, Singapore, Thailand, and the Philippines) from 2021 to 2023. Using panel data of 609 firms (1827 firm-year observations) obtained from Refinitiv Eikon, ESG reporting is measured through the reporting score, while board tenure is proxied by the average years of directors’ service and board-specific skills by the proportion of directors with financial or industry expertise. The analysis employs fixed-effects regression with firm-level clustered standard errors to account for unobserved heterogeneity and robust inference. The findings reveal that board tenure has no significant effect on ESG reporting, suggesting that accumulated experience does not necessarily enhance disclosure. In contrast, board-specific skills exhibit a positive and significant impact, highlighting the importance of technical competence in driving transparency. Control variables show that firm age contributes positively to ESG disclosure, while robustness checks confirm the stability of results across alternative specifications and clustering dimensions. Sub-sample country analyses further indicate institutional variations, with board expertise mattering more in Singapore and Indonesia, and firm age in Malaysia, Thailand, and the Philippines. The study offers theoretical and policy implications for strengthening governance reforms and advancing ESG transparency in emerging markets. Full article
(This article belongs to the Section Sustainability and Finance)
11 pages, 2050 KB  
Article
Epidemiological Trends and Predictive Modeling of Dengue Fever in the Association of Southeast Asian Nations (ASEAN) Countries
by Qian Ren, Ruoxi Li, Xiaojun Liu, Wei Hao, Xiaojie Zhou, Meide Liu, Hongjiang Zhang, Xinying Feng, Xiaogui Li, Ziwen Zhao, Weiwei Hu, Jianjun Zhang and Zhenjiang Xin
Trop. Med. Infect. Dis. 2025, 10(12), 329; https://doi.org/10.3390/tropicalmed10120329 - 24 Nov 2025
Viewed by 1095
Abstract
Dengue fever is one of the most important mosquito-borne diseases worldwide. The Association of Southeast Asian Nations (ASEAN) region is a high-incidence area for dengue fever and a primary source of imported cases in China. Based on the Global Burden of Disease (GBD) [...] Read more.
Dengue fever is one of the most important mosquito-borne diseases worldwide. The Association of Southeast Asian Nations (ASEAN) region is a high-incidence area for dengue fever and a primary source of imported cases in China. Based on the Global Burden of Disease (GBD) data, this study statistically analyzed the spatiotemporal distribution of the age-standardized incidence rate (ASR) of dengue fever in ten ASEAN countries from 1990 to 2021. Joinpoint regression was used to analyze long-term trends, and future trends from 2022 to 2031 were predicted. In 2021, the ASR of dengue fever varied widely among ASEAN countries. Singapore had the highest ASR (8715 cases per 100,000 persons). After 2000, countries, such as Brunei Darussalam, experienced short-term outbreaks. From 1990 to 2021, seven countries showed a significant upward trend in the ASR (AAPC > 0, p < 0.05). Predictions indicate that the Philippines will continue to see a rising ASR from 2022 to 2031, and the dengue fever situation in ASEAN countries is severe and heterogeneous. We recommend differentiated control measures according to the ASR level of the source country in China. The results can support the development of Sino-ASEAN collaborative strategies for dengue fever prevention and control. Full article
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22 pages, 1335 KB  
Article
Digital Economy and Carbon Emission Intensity: Evidence from ASEAN
by Fang Yang, Chutong Li and Sisi Zhang
Sustainability 2025, 17(22), 10266; https://doi.org/10.3390/su172210266 - 17 Nov 2025
Cited by 1 | Viewed by 705
Abstract
After the carbon neutrality goal was proposed, the question of how to achieve low-carbon and green development has become the focus of ASEAN countries. The digital economy will play an important role in promoting carbon emission reduction in ASEAN countries. This paper measures [...] Read more.
After the carbon neutrality goal was proposed, the question of how to achieve low-carbon and green development has become the focus of ASEAN countries. The digital economy will play an important role in promoting carbon emission reduction in ASEAN countries. This paper measures the digital economy index of ASEAN countries and explores the impact of the digital economy on carbon emission intensity across 10 ASEAN countries from 2011 to 2020. The results show that the digital economy can reduce the intensity of carbon emissions in ASEAN countries. In addition, the impact of the digital economy on carbon emission intensity will vary depending on the level of economic development, resource endowment, and government financial support capacity. The mechanism analysis shows that the digital economy can ultimately reduce the intensity of carbon emissions by promoting industrial structure upgrading, stimulating technological innovation, and promoting the transformation of energy consumption structure. Based on the above conclusions, specific recommendations are proposed for the digital economy to realize carbon reduction in ASEAN countries. Full article
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21 pages, 10371 KB  
Article
Case Study on Improvement Measures for Increasing Accuracy of AI-Based River Water-Level Prediction Model
by Sooyoung Kim, Seungho Lee and Kwang Seok Yoon
Earth 2025, 6(4), 146; https://doi.org/10.3390/earth6040146 - 11 Nov 2025
Viewed by 825
Abstract
Global warming is recognized as a climate crisis that extends beyond a mere increase in the Earth’s temperature, triggering rapid and widespread climatic changes worldwide. In particular, the frequency and intensity of extreme rainfall events have increased in Korea and the Association of [...] Read more.
Global warming is recognized as a climate crisis that extends beyond a mere increase in the Earth’s temperature, triggering rapid and widespread climatic changes worldwide. In particular, the frequency and intensity of extreme rainfall events have increased in Korea and the Association of Southeast Asian Nations (ASEAN) region, leading to a significant increase in flood damage. The growing number of large-scale hydrological disasters underscores the urgent need for accurate and rapid flood-forecasting systems that can support disaster preparedness and mitigation. Compared with conventional physics-based forecasting systems, artificial intelligence (AI) models can provide faster predictions using limited observational data. In this study, a river water-level prediction model was constructed using real-time observation data and a long short-term memory (LSTM) algorithm, which is a recurrent neural network-based deep learning approach suitable for hydrological time-series forecasting. A repeated k-fold cross-validation technique was applied to enhance model generalization and prevent overfitting. In addition, water-level differencing was employed to convert nonstationary water-level data into stationary time-series inputs, thereby improving the prediction stability. Water-level observation stations in the Philippines, Indonesia, and the Republic of Korea were selected as study sites, and the model performance was evaluated at each location. The differenced LSTM model achieved a root mean square error of 0.13 m, coefficient of determination (R2) of 0.866, Nash–Sutcliffe efficiency (NSE) of 0.844, and Kling–Gupta efficiency of 0.893, thus outperforming the non-differenced baseline by approximately 17%. The repeated k-fold validation approach was particularly effective when the training data period was short or the number of input variables was limited. These results confirm that ensuring temporal stationarity and applying repeated cross-validation can significantly enhance the predictive accuracy of real-time flood forecasting. The proposed framework exhibits strong potential for implementation in regional early warning systems across data-limited flood-prone areas in the ASEAN region. Ongoing studies that apply and verify this approach in diverse hydrological contexts are expected to further improve and expand AI-based flood prediction models. Full article
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36 pages, 2796 KB  
Article
Advancing Sustainable Tourism Through Smart Wheelchair Optimization: A Mixed-Integer Linear Programming Framework for Inclusive Travel
by Pannee Suanpang, Thanatchai Kulworawanichpong, Chanchai Techawatcharapaikul, Pitchaya Jamjuntr, Fazida Karim and Kittisak Wongmahesak
Sustainability 2025, 17(21), 9458; https://doi.org/10.3390/su17219458 - 24 Oct 2025
Viewed by 1844
Abstract
Accessible tourism is a critical aspect of sustainable development, yet many Southeast Asian destinations lack sufficient infrastructure and services for elderly and disabled travelers. This study develops a Mixed-Integer Linear Programming (MILP) framework to optimize travel itineraries, balancing cost, accessibility, and cultural–environmental priorities. [...] Read more.
Accessible tourism is a critical aspect of sustainable development, yet many Southeast Asian destinations lack sufficient infrastructure and services for elderly and disabled travelers. This study develops a Mixed-Integer Linear Programming (MILP) framework to optimize travel itineraries, balancing cost, accessibility, and cultural–environmental priorities. A national accessibility database for Thailand was created, encompassing airports, hospitals, public transport nodes, cultural landmarks, and natural attractions. Compared to baseline conventional itineraries—defined as standard travel routes planned without specific accessibility considerations or optimization techniques—the MILP-optimized routes reduce average travel time by 15–20% and improve accessibility scores by 25%. Sensitivity analyses reveal trade-offs between economic efficiency, inclusivity, and infrastructure capacity, while a schematic accessibility network highlights structural fragmentation among airports, hospitals, and secondary attractions. Scenario analyses show that stricter accessibility thresholds improve inclusivity (index: 0.65 to 0.80) but restrict destination options, whereas high-demand scenarios increase costs and reduce inclusivity. A survey of 30 smart wheelchair users indicates high satisfaction with individualized programs and GPS connectivity. These findings underscore the need for investment in multimodal integration, accessibility upgrades, and a national database to enhance inclusive tourism planning. The framework is transferable to other ASEAN countries, contributing to SDG 3, 8, and 11. Overall, this study should be viewed as a prototype or exploratory contribution, with limitations in real-time applicability, generalizability, and implementation of environmental and ethical aspects. Full article
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27 pages, 3909 KB  
Article
Second-Life EV Batteries for PV–SLB Hybrid Petrol Stations: A Roadmap for Malaysia’s Urban Energy Transition
by Md Tanjil Sarker, Gobbi Ramasamy, Marran Al Qwaid and Shashikumar Krishnan
Urban Sci. 2025, 9(10), 422; https://doi.org/10.3390/urbansci9100422 - 13 Oct 2025
Viewed by 2721
Abstract
The rapid growth of electric vehicle (EV) adoption in Malaysia is projected to generate substantial volumes of end-of-life lithium-ion batteries, creating both environmental challenges and opportunities for repurposing into second-life batteries (SLBs). This study investigates the technical, economic, and regulatory feasibility of deploying [...] Read more.
The rapid growth of electric vehicle (EV) adoption in Malaysia is projected to generate substantial volumes of end-of-life lithium-ion batteries, creating both environmental challenges and opportunities for repurposing into second-life batteries (SLBs). This study investigates the technical, economic, and regulatory feasibility of deploying SLBs for photovoltaic (PV) energy storage in petrol stations, an application aligned with the nation’s energy transition goals. Laboratory testing of Nissan Leaf ZE0 battery modules over a 120-day operation period demonstrated stable cycling performance with approximately 7% capacity fade, maintaining state-of-health (SOH) above 47%. A case study of a 12 kWp PV–SLB hybrid system for a typical Malaysian petrol station shows 45 kWh of usable storage, capable of offsetting a daily electricity demand of 45 kWh, reducing capital cost by 30–50% compared to new lithium-ion systems, and achieving 70–80% lifecycle CO2 emission reductions. The proposed architecture leverages SLBs’ suitability for slower, steady discharge to provide reliable nighttime operation and grid load relief, particularly in semi-urban and rural stations. Beyond technical validation, the paper evaluates economic benefits, environmental impacts, and Malaysia’s regulatory readiness, identifying gaps in certification standards, reverse logistics, and workforce skills. Strategic recommendations are proposed to enable large-scale SLB deployment and integration into hybrid PV–petrol station systems. Findings indicate that SLBs can serve as a cost-effective, sustainable energy storage solution, supporting Malaysia’s National Energy Transition Roadmap (NETR), advancing circular economy practices, and positioning the country as a potential ASEAN leader in battery repurposing. Full article
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20 pages, 5929 KB  
Article
Multiscale Effects of Land Infrastructure Planning on Housing Prices in Bangkok, Thailand
by Shichao Lu, Zhihua Zhang, M. James C. Crabbe and Prin Suntichaikul
Land 2025, 14(10), 2004; https://doi.org/10.3390/land14102004 - 6 Oct 2025
Viewed by 1198
Abstract
Bangkok is the largest city in Thailand and the second largest city in Southeast Asia. Due to the rapid urbanization and upgrading of economic structures, the real estate market in Bangkok is not only constrained by domestic factors but also fluctuates with international [...] Read more.
Bangkok is the largest city in Thailand and the second largest city in Southeast Asia. Due to the rapid urbanization and upgrading of economic structures, the real estate market in Bangkok is not only constrained by domestic factors but also fluctuates with international economic cycles. Bangkok’s long history, diverse culture, developed economy, and incomplete land infrastructure make the formation of housing prices particularly complex. In this study, we collected 13,175 residence transaction data from 2076 different neighborhoods in Bangkok and explored multiscale effects of various land infrastructure factors on housing prices in Bangkok at the neighborhood level. Our analysis not only supports land planning departments of Bangkok to make more reasonable facility planning but also provides new insights into driving mechanisms of housing prices in other cities of Thailand and ASEAN countries. Full article
(This article belongs to the Section Land Use, Impact Assessment and Sustainability)
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21 pages, 492 KB  
Article
The Relationship Between Green Patents, Green FDI, Economic Growth and Sustainable Tourism Development in ASEAN Countries: A Spatial Econometrics Approach
by Ha Van Trung
Reg. Sci. Environ. Econ. 2025, 2(4), 29; https://doi.org/10.3390/rsee2040029 - 25 Sep 2025
Cited by 2 | Viewed by 1494
Abstract
Sustainable tourism development has emerged as a strategic priority across ASEAN countries, yet the role of green innovation and environmentally responsible investment in shaping tourism outcomes remains underexplored. Existing studies often overlook the spatial interdependencies that characterize regional integration and cross-border environmental dynamics. [...] Read more.
Sustainable tourism development has emerged as a strategic priority across ASEAN countries, yet the role of green innovation and environmentally responsible investment in shaping tourism outcomes remains underexplored. Existing studies often overlook the spatial interdependencies that characterize regional integration and cross-border environmental dynamics. This study investigates how green patents and green foreign direct investment (FDI) influence sustainable tourism development, both within and across ASEAN nations. Drawing on endogenous growth theory, ecological modernization, and FDI spillover frameworks, the analysis employs a Spatial Durbin Model (SDM) using panel data from 2000 to 2023. The findings reveal that green innovation and green FDI significantly enhance tourism development, with notable spatial spillover effects that benefit neighboring countries. These effects are most pronounced in leading ASEAN economies, where institutional capacity and absorptive readiness amplify the impact of green practices. The relationship is further shaped by economic growth, human capital, and political stability, while environmental degradation and inflation pose constraints. The study underscores the nonlinear and regionally heterogeneous nature of green tourism development, offering policy insights for fostering inclusive, resilient, and environmentally sustainable tourism strategies across ASEAN. Full article
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24 pages, 349 KB  
Article
Economic Growth, FDI, Tourism, and Agricultural Productivity as Drivers of Environmental Degradation: Testing the EKC Hypothesis in ASEAN Countries
by Yuldoshboy Sobirov, Beruniy Artikov, Elbek Khodjaniyozov, Peter Marty and Olimjon Saidmamatov
Sustainability 2025, 17(18), 8394; https://doi.org/10.3390/su17188394 - 19 Sep 2025
Cited by 2 | Viewed by 2317
Abstract
This study examines the long-run relationship between carbon dioxide (CO2) emissions and key macroeconomic and sectoral drivers in ten ASEAN economies from 1995 to 2023. Employing Driscoll–Kraay standard errors, Prais–Winsten regression, heteroskedastic panel-corrected standard errors, Fully Modified Ordinary Least Squares (FMOLS), [...] Read more.
This study examines the long-run relationship between carbon dioxide (CO2) emissions and key macroeconomic and sectoral drivers in ten ASEAN economies from 1995 to 2023. Employing Driscoll–Kraay standard errors, Prais–Winsten regression, heteroskedastic panel-corrected standard errors, Fully Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares (DOLS), and Canonical Cointegrating Regression (CCR) estimators, the analysis accounts for cross-sectional dependence, slope heterogeneity, and endogeneity. Results indicate that GDP exerts a more-than-unitary positive effect on emissions, with a negative GDP-squared term supporting the Environmental Kuznets Curve. Agriculture raises emissions through land-use change and high-emission cultivation practices, while tourism shows a negative association likely reflecting territorial accounting effects. Trade openness increases emissions, highlighting the carbon intensity of export structures, whereas foreign direct investment exerts no significant net effect. These results suggest that ASEAN economies must accelerate renewable energy adoption, promote climate-smart agriculture, embed enforceable environmental provisions in trade policy, and implement rigorous sustainability screening for FDI to achieve low-carbon growth trajectories. Full article
22 pages, 307 KB  
Article
Digital Cultural Heritage in Southeast Asia: Knowledge Structures and Resources in GLAM Institutions
by Kanyarat Kwiecien, Wirapong Chansanam and Kulthida Tuamsuk
Informatics 2025, 12(3), 96; https://doi.org/10.3390/informatics12030096 - 15 Sep 2025
Cited by 1 | Viewed by 5493
Abstract
This study explores the digital organization of cultural heritage knowledge across national GLAM institutions (galleries, libraries, archives, and museums) in the ten ASEAN countries. By employing a qualitative content analysis approach, this research study investigates the types, structures, and dissemination patterns of information [...] Read more.
This study explores the digital organization of cultural heritage knowledge across national GLAM institutions (galleries, libraries, archives, and museums) in the ten ASEAN countries. By employing a qualitative content analysis approach, this research study investigates the types, structures, and dissemination patterns of information resources available on 40 institutional websites. The findings reveal the diversity and richness of Southeast Asian cultural heritage, including national and local wisdom, history, significant figures, and material culture, collected and curated by these institutions. This study identifies key knowledge domains, content overlaps across GLAM sectors, and limitations in metadata and interoperability. Comparative analysis with international cultural knowledge infrastructures, such as the United Nations Educational Scientific and Cultural Organization (UNESCO)’s framework, Europeana, and the World Digital Library, highlights both shared values and regional distinctions. While GLAMs in the ASEAN have made significant strides in digital preservation and access, the lack of standardized metadata and cross-institutional integration impedes broader discoverability and reuse. This study contributes to the discourse on heritage informatics by providing an empirical foundation for enhancing digital cultural heritage systems in developing regions. The implications point toward the need for interoperable metadata standards, regional collaboration, and capacity building to support sustainable digital heritage ecosystems. This research study offers practical insights for policymakers, digital curators, and information professionals seeking to improve cultural knowledge infrastructures in Southeast Asia and similar contexts. Full article
18 pages, 929 KB  
Article
Shadow Economy and the Ecological Footprint Nexus: The Implication of Foreign Direct Investment in ASEAN Countries
by Nattapan Kongbuamai, Quocviet Bui and Suthep Nimsai
Economies 2025, 13(9), 258; https://doi.org/10.3390/economies13090258 - 5 Sep 2025
Viewed by 1278
Abstract
This study examines the influence of economic growth, energy consumption, a shadow economy, and foreign direct investment (FDI) on the ecological footprint in ASEAN countries. The analysis covers a panel of nine member states—Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, the Philippines, Singapore, Thailand, [...] Read more.
This study examines the influence of economic growth, energy consumption, a shadow economy, and foreign direct investment (FDI) on the ecological footprint in ASEAN countries. The analysis covers a panel of nine member states—Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, the Philippines, Singapore, Thailand, and Vietnam—over the period from 1993 to 2017 due to data availability. To ensure robustness, various panel econometric techniques were employed, including cross-sectional dependence, panel unit root, and cointegration tests, as well as estimation methods such as Driscoll–Kraay standard errors, feasible generalized least squares (FGLS), and panel-corrected standard errors (PCSE). The results do not support an inverted U-shaped Environmental Kuznets Curve (EKC) between economic growth and ecological footprint in the ASEAN countries. Moreover, the findings consistently show that energy consumption, the size of the shadow economy, and FDI exert a statistically significant and positive impact on the ecological footprint towards the Driscoll–Kraay standard errors, FGLSs, and PCSE estimators. For policy recommendations, a country’s pursuit of economic growth should be aligned with a higher degree of environmental sustainability by strategically reducing energy consumption, curbing the shadow economy, and managing foreign direct investment responsibly. Full article
(This article belongs to the Special Issue Globalisation, Environmental Sustainability, and Green Growth)
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29 pages, 386 KB  
Article
ESG Performance in the EU and ASEAN: The Roles of Institutional Governance, Economic Structure, and Global Integration
by Alina Elena Ionașcu, Dereje Fedasa Hordofa, Alexandra Dănilă, Elena Cerasela Spătariu, Andreea Larisa Burcă (Olteanu) and Maria Gabriela Horga
Sustainability 2025, 17(17), 7997; https://doi.org/10.3390/su17177997 - 4 Sep 2025
Cited by 1 | Viewed by 2259
Abstract
This study investigates how Environmental, Social, and Governance (ESG) performance is shaped across 31 countries in the European Union (EU) and the Association of Southeast Asian Nations (ASEAN) from 1990 to 2020. To explore these relationships, we employed the Continuously Updated Generalized Method [...] Read more.
This study investigates how Environmental, Social, and Governance (ESG) performance is shaped across 31 countries in the European Union (EU) and the Association of Southeast Asian Nations (ASEAN) from 1990 to 2020. To explore these relationships, we employed the Continuously Updated Generalized Method of Moments (CUE-GMM) and the Limited Information Maximum Likelihood (LIML), with additional robustness checks using Instrumental Variables Two-Stage Least Squares (IV-2SLS), Panel-Corrected Standard Errors (PCSE), and Driscoll-Kraay regressions. The results highlight democratic governance as a consistent driver of ESG advancement. Military expenditure can also support sustainability by reinforcing institutional stability, particularly in developing and upper-middle-income countries. Economic factors such as foreign direct investment, industrialization, and human capital show context-dependent effects, whereas globalization and natural resource rents generally enhance ESG performance, and inflation tends to constrain it. Overall, the findings underscore the importance of tailored, context-specific sustainability policies, showing that effective ESG progress depends on the interaction between institutions, economic structures, and global integration. Full article
25 pages, 5177 KB  
Article
Impact of Government Investment in Human Capital on Labor Force Participation and Income Growth Across Economic Tiers in Southeast Asian Countries
by Pathairat Pastpipatkul, Htwe Ko and George Randolph Dirth
Economies 2025, 13(9), 249; https://doi.org/10.3390/economies13090249 - 23 Aug 2025
Viewed by 2041
Abstract
Prior economic research emphasized land, labor and physical capital as the primary drivers of growth, but contemporary work highlights the pivotal role of human capital. Investments in education, health and governance are now regarded as central to sustainable development; yet important questions remain [...] Read more.
Prior economic research emphasized land, labor and physical capital as the primary drivers of growth, but contemporary work highlights the pivotal role of human capital. Investments in education, health and governance are now regarded as central to sustainable development; yet important questions remain regarding their effectiveness and context-specific impact. This study investigates how human capital investment influences labor force participation and income growth within the ASEAN nine economies for the period from 2000 to 2022 which provides a rich example of contrast in economic and governance outcomes within a single geographic region. Impacted units of measurement of labor force participation and income growth are evaluated using the Bayesian Additive Regression Trees model to select the most important variables, the Bayesian Dynamic Nonlinear Multivariate panel model to estimate regional effects, and the Time-varying Seemingly Unrelated Regression Equations model to evaluate country-specific dynamics, which considers not just the influence of investments in health and education but also the context of rule, law, and governance. The findings indicate that human capital investments exhibit heterogenous effects across economic tiers and the need for strategies and future study of preconditions to improve returns particularly in low-tier economies. Accordingly, mid-tier, emerging economies exhibit the greatest benefit from human capital investments while top-tier exhibit the probable impact of the law of diminishing returns as their human capital development is already well underway. Despite the limited scope, this study still has the potential to draw constructive theoretical and practical implications. Full article
(This article belongs to the Special Issue The Asian Economy: Constraints and Opportunities)
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