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<p>This study examines the interplay of human welfare (HW), environmental, social, and governance (ESG) performance, renewable energy consumption (REW), and gender equality (GE) in shaping economic growth (EG) across South and Southeast Asia. By utilizing the Method of Moments Quantile Regression (MMQR) and Praisâ Winsten regression, correlated panels corrected standard errors (PCSEs) to analyze panel data from 2000 to 2023 to address heterogeneity across growth quantiles, the research reveals relationships that challenge conventional linear assumptions. Key findings indicate that HW exerts a robust positive influence on EG, particularly at lower and upper quantiles, reinforcing the endogenous growth theory. However, ESG performance exhibits a negative direct effect on EG, suggesting short-term economic costs in developing contexts, though its collaborations with HW and REW mitigate this in high-welfare settings. Renewable energy adoption significantly boosts EG, with diminishing marginal returns in middle-growth economies. Gender inequality moderates these relationships, amplifying HW benefits but offsetting ESG and REW gains, underscoring the need for targeted gender-equitable policies. Contour plots further highlight non-linear interdependencies, revealing that combined investments in welfare, sustainability, and gender equality yield the strongest growth outcomes. The study advances the literature by integrating these dimensions through a novel MMQR framework, offering policymakers actionable insights for fostering inclusive and sustainable development in the region.</p>

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The interplay of human welfare, ESG, renewable energy, and gender equality in shaping economic growth in South and Southeast Asia: evidence using a novel MMQR technique

  • 期刊论文

  • 发表日期：

    2026年7月6日

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  • Muhammad Adeel Afzal,
  • Zhao Xu,
  • Jamil Afzal

摘要

This study examines the interplay of human welfare (HW), environmental, social, and governance (ESG) performance, renewable energy consumption (REW), and gender equality (GE) in shaping economic growth (EG) across South and Southeast Asia. By utilizing the Method of Moments Quantile Regression (MMQR) and Praisâ Winsten regression, correlated panels corrected standard errors (PCSEs) to analyze panel data from 2000 to 2023 to address heterogeneity across growth quantiles, the research reveals relationships that challenge conventional linear assumptions. Key findings indicate that HW exerts a robust positive influence on EG, particularly at lower and upper quantiles, reinforcing the endogenous growth theory. However, ESG performance exhibits a negative direct effect on EG, suggesting short-term economic costs in developing contexts, though its collaborations with HW and REW mitigate this in high-welfare settings. Renewable energy adoption significantly boosts EG, with diminishing marginal returns in middle-growth economies. Gender inequality moderates these relationships, amplifying HW benefits but offsetting ESG and REW gains, underscoring the need for targeted gender-equitable policies. Contour plots further highlight non-linear interdependencies, revealing that combined investments in welfare, sustainability, and gender equality yield the strongest growth outcomes. The study advances the literature by integrating these dimensions through a novel MMQR framework, offering policymakers actionable insights for fostering inclusive and sustainable development in the region.