Abstract
This study emphasizes the impact of economic, financial, and political institutions on environmental sustainability across 28 Asian countries from 1995 to 2022. Using a spatial Durbin model, we analyzed the direct effects of these institutional factors within each country as well as their spatial spillover effects on neighboring nations. Our findings demonstrate the interconnectedness of environmental risks and the broader regional implications. This highlights the critical need for collaborative policy initiatives at the regional level to promote environmental sustainability. The results provide important insights for policymakers and international organizations seeking to address environmental sustainability in an increasingly globalized context. By emphasizing the role of institutions and spatial interdependencies, this research offers a nuanced understanding of the drivers of emissions in Asia and the potential for coordinated action to mitigate climate change.
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