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• Open Access Article Economics

  14 Pages Download PDF: Financial Development, Globalization, and Economic Growth in The Next-11 Countries: Evidence from a Panel ARDL Model

  Financial Development, Globalization, and Economic Growth in The Next-11 Countries: Evidence from a Panel ARDL Model

  Moheddine Younsi

  2026-05-18 https://doi.org/10.36923/ie-frontiers.v29i1.427

  Given the growing importance of financial development and globalization in shaping economic growth over recent decades, particularly in the context of the Next-11 countries, policymakers need to carefully assess both the individual and joint effects of these factors to design policies that maximize their growth-enhancing potential. Accordingly, this study investigates the short-run and long-run effects of financial development and globalization—both independently and interactively—on economic growth in the Next-11 countries over the period 1990–2023, employing a panel ARDL framework. The empirical results reveal that financial development and globalization each have negative and significant effects on economic growth in both the short and long run. However, the interaction term between financial development and globalization is positive and significant across both time horizons, providing strong support for the complementarity hypothesis. This finding suggests that, although each factor individually constrains growth, their joint effect mitigates these adverse impacts and ultimately enhances growth outcomes. With respect to the control variables, labor has a positive and significant impact on economic growth in both the short run and the long run, highlighting the critical role of human capital and labor force expansion. Physical capital is found to be insignificant in the long run but exhibits mixed effects in the short run. Inflation remains insignificant in the long run but shows a small yet positive and significant effect in the short run. Overall, these results offer important policy implications, emphasizing the need for coordinated financial and external-sector policies to promote sustainable economic growth in the Next-11 countries.

  pp. 41-54 Abstract views:570 Downloads:240

• Open Access Article Economics

  17 Pages Download PDF: Exploring How Income Inequality, Education, and Policy Shape Energy Access Disparities in Southeast Asia

  Exploring How Income Inequality, Education, and Policy Shape Energy Access Disparities in Southeast Asia

  Syeda Anam Hassan, Inayatul Haq, Alamzeb Aamir, Ihtisham ul Haq, Khalid Zaman

  2025-12-18 https://doi.org/10.36923/ie-frontiers.v28i2.403

  The pursuance of Sustainable Development Goal 7, Affordable and Clean Energy, takes center stage in this research in the vibrant geography of Southeast Asia. This investigation centers on the social and economic ramifications of renewable energy policy, examining the various factors that influence energy fairness and justice. The study aims to determine how financial disparity, community participation, education, policy support, and geographical constraints affected energy access discrepancies in a panel of nine selected Southeast Asian countries from 2000 to 2023. The study employed a panel Autoregressive Distributed Lag (ARDL) model and robust least squares regression for estimation. Income inequality negatively and significantly affects energy access disparity (EAD) in the panel ARDL model. Community involvement and education improve energy accessibility. Education raises awareness of sustainable energy practices and technology, which increases energy-efficient solution adoption. Community involvement affects inclusive energy access and environmental sustainability policies, and public opinion. Additionally, geographical obstacles and public support are correlated positively, indicating that practical policy actions and investments can increase energy availability. Centralized infrastructure, technology, and egalitarian energy solutions may overcome geographical obstacles. Finally, policy support has an "inverted U-shaped" pattern, suggesting that it may promote socioeconomic growth and reduce energy access inequities. The study provides deep insights that can influence targeted policy choices and promote a sustainable and inclusive energy future for Southeast Asian countries.

  pp. 14-30 Abstract views:862 Downloads:181