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<p>Environmental sustainability and climate change are among the most important global concerns, especially for emerging countries involved in major initiatives like the GCC economies. Therefore, this study investigates the moderating role of institutional quality (INQ) on carbon emissions (CE), applying data from GCC nations concerning trade openness (TOP), financial development (FIND), human capital (HC), and natural resources (NRR) between 1999 and 2023. To address future endogeneity challenges, this analysis utilizes the Driscoll-Kraay (random-effects based) as the main estimator with the two-step system generalized method of moments (TSGMM) estimator to complement a robustness check. The empirical outcomes reveal that FIND, NRR, and TOP stimulate carbon dioxide emissions, whereas HC and INQ improve environmental sustainability. Furthermore, the interaction effect of INQ with FIND and TOP was found to lessen CE, whereas the interaction effect of INQ with NRR increased CE in GCC economies. Several recommended policy measures to reduce emissions and promote sustainable development in GCC countries include stricter environmental laws, the promotion of a green economy, eco-friendly trade policies, investment in green projects, and the adoption of circular economy practices to maximize resource use.</p>

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The impact of financial development and natural resources on the environmental quality in GCC economies: the moderating role of institutional quality

  • 期刊论文

  • 出版模式：

    开放获取

  • 发表日期：

    2026年7月2日

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  • Palanisamy Manigandan,
  • Duraisamy Pachiyappan,
  • Magdalena Radulescu,
  • Jeena Radhamma

摘要

Environmental sustainability and climate change are among the most important global concerns, especially for emerging countries involved in major initiatives like the GCC economies. Therefore, this study investigates the moderating role of institutional quality (INQ) on carbon emissions (CE), applying data from GCC nations concerning trade openness (TOP), financial development (FIND), human capital (HC), and natural resources (NRR) between 1999 and 2023. To address future endogeneity challenges, this analysis utilizes the Driscoll-Kraay (random-effects based) as the main estimator with the two-step system generalized method of moments (TSGMM) estimator to complement a robustness check. The empirical outcomes reveal that FIND, NRR, and TOP stimulate carbon dioxide emissions, whereas HC and INQ improve environmental sustainability. Furthermore, the interaction effect of INQ with FIND and TOP was found to lessen CE, whereas the interaction effect of INQ with NRR increased CE in GCC economies. Several recommended policy measures to reduce emissions and promote sustainable development in GCC countries include stricter environmental laws, the promotion of a green economy, eco-friendly trade policies, investment in green projects, and the adoption of circular economy practices to maximize resource use.