ABSTRACT Uncertainty regarding sustainability has become a central challenge for advanced economies, eroding policy credibility, discouraging long-term investment, and heightening systemic risk. The United States illustrates this contradiction: it leads globally in technological innovation but remains heavily dependent on fossil fuels and constrained by decentralized governance. This study provides the first empirical assessment of U.S. sustainability uncertainty using quarterly data from 2003Q1–2022Q4. Employing wavelet quantile regression, wavelet quantile correlation, and quantile-on-quantile Granger causality, the analysis captures nonlinear, asymmetric, and scale-dependent dynamics often missed by standard econometric approaches. Results reveal that renewable energy transition and environmental governance heighten uncertainty in median and stable states, reflecting transitional frictions and institutional volatility. Technological innovation exerts mixed effects – reducing uncertainty under stable conditions but amplifying it in turbulent periods. Digital inclusion consistently reduces uncertainty, especially in high states, underscoring its role as a resilience-enhancing factor. Robustness checks using Kernel Regularized Quantile Regression confirm the validity of these findings. Policy implications emphasize the need for coherent governance, smoother energy transitions, balanced innovation regulation, and broader digital access. Together, these measures can convert volatility into resilience, enabling the U.S. to pair technological leadership with sustainable stability among advanced economies.

Type of the article: Research ArticleAbstractThailand’s green bond market is expanding but remains less developed than in advanced economies, raising questions about issuance patterns and whether return–risk conditions support broader market growth. This study aims to analyze issuance dynamics in Thailand’s green bond market, evaluate return and risk performance, assess the relationship between return, risk, and issuance volume, and classify green bonds based on their risk characteristics. The sample included 62 green bonds registered with the Thai Bond Market Association (ThaiBMA) during 2019–2025. Descriptive statistics are used to summarize issuance and performance indicators; return measures include current yield, yield to maturity, holding period return, and annual percentage rate; risk is assessed using seven variables capturing default, liquidity, interest rate, inflation, and reinvestment risks, and hierarchical clustering is applied to classify bonds by risk level. Results show that private-sector issuers dominate the market, accounting for 79% of outstanding green bond value (103.216 billion baht), followed by state-owned enterprises (12%) and foreign issuers (9%). Current yield ranges from 1.62% to 5.55% (mean 3.40%), while yield to maturity ranges from 1.75% to 8.86% (mean 3.20%). Credit spreads range from 0.41% to 3.49% (mean 1.46%), and duration ranges from 0.019 to 10.07 years (mean 3.35), indicating generally moderate risk conditions. SEM analysis further reveals a significant positive relationship between risk and return, while issuance volume is not significantly related to either factor. Cluster analysis identifies four distinct risk groups – low, medium, high, and highest – offering a practical risk classification for investors and policymakers to support sustainable finance development in Thailand.

ABSTRACT Policy debates on sustainable development often presume that expanding women's participation in the labor market strengthens social, economic, and environmental outcomes. Yet whether female labor‐force participation (FLFP) is systematically aligned with sustainable development—and under what structural conditions—remains empirically unclear. This study provides a comparative assessment of the gender–sustainability relationship across two major global blocs: the E7 emerging economies and the G7 advanced economies, using annual data from 1990 to 2022. Employing a multidimensional Sustainable Development Index (SDI), fixed‐effects panel models, interaction specifications, and robustness checks based on adjusted net savings and dynamic lag structures, the analysis adopts an associational framework. The results reveal marked heterogeneity across development stages. In the E7 economies, FLFP is positively associated with SDI in cross‐country comparisons, but shows no robust within‐country association once fixed effects are introduced, and is negatively related to long‐term sustainability measured by adjusted net savings. Interaction results further indicate that periods of intensified green transition and rapid digital expansion coincide with a weaker alignment between female labor participation and sustainability outcomes. In contrast, in the G7 economies, within‐country increases in FLFP are not associated with improvements in sustainability, and this relationship is not systematically enhanced by governance effectiveness, green‐jobs exposure, or digitalization. Component‐level analyses show that aggregate SDI movements mask offsetting income, social, and ecological dynamics. Overall, the findings suggest that female labor participation does not automatically translate into sustainability gains; its relevance depends on whether structural conditions enable women's economic participation to be productivity‐enhancing and environmentally inclusive.

Purpose Australia’s innovation performance lags other advanced economies, highlighting the need to understand how boards can better support innovation. This study aims to examine the evolving representation of directors with science, technology, engineering and mathematics (STEM) expertise on Australian corporate boards and the extent to which this representation impacts innovation investment and firm value. Design/methodology/approach Hand-collected data on director backgrounds from the top 500 Australian Stock Exchange (ASX)-listed firms are used to assess changes in board STEM representation between 2007 and 2022. Regression analysis is then employed to examine the relationship between STEM director representation, innovation investment and firm value. Findings Despite a modest increase between 2007 and 2022, the representation of STEM directors on Australian corporate boards remains low. However, firms with greater STEM board expertise are associated with higher levels of innovation investment and firm value. These effects are strongest in firms without STEM CEOs and in industries with lower STEM representation. Practical implications As firms face increasing technological complexity and opportunities, appointing directors with STEM backgrounds may offer a competitive advantage. Policies and initiatives aimed at expanding the supply of STEM directors are therefore recommended. Originality/value While director expertise is known to influence firm outcomes, limited evidence exists on how STEM expertise at the board level shapes innovation and firm value, particularly in the Australian context. This study provides new evidence on how board STEM expertise contributes to both outcomes.

Type of the article: Research ArticleAbstractVolatility in international capital flows remains a key source of global financial stability, particularly in the manifestation of sudden stop episodes with disruptive consequences. This study examines how global financial conditions, domestic macroeconomic fundamentals, and macroprudential policy responses shape the likelihood of sudden stop episodes in international capital flows. The analysis utilizes an unbalanced quarterly panel of up to 64 advanced and emerging economies over 1980–2024, in which sudden stop episodes in total, portfolio, and cross-border bank gross inflows are constructed following the Forbes and Warnock methodology. A panel probit with clustered standard errors is employed to estimate the likelihood of sudden stop episodes. The results indicate that tighter global financial conditions, measured by global uncertainty and long-term interest rates, significantly increase the probability of sudden stop episodes across capital flow categories. For total inflows, a one-point increase in the VIX raises sudden stop probability by 0.39 percentage points, while a one-standard-deviation increase raises it by 2.66 percentage points. Stronger domestic fundamentals, including high capital account openness and higher growth, reduce sudden stop risk, whereas elevated domestic credit significantly increases this risk. Emerging economies exhibit a structurally higher baseline probability than advanced economies, even after controlling global and domestic factors. Macroprudential policy tightening does not prevent sudden stop risk unconditionally, but when tightened amidst domestic credit expansion, it significantly mitigates sudden stop probability. These effects are most pronounced for Total and Cross-border sudden stop episodes, whereas portfolio flow sudden stops are largely driven by global push factors.

Purpose The purpose of this paper is to present a comprehensive systematic literature review of 78 empirical studies published from 2012 to 2025 on the determinants of integrated reporting (IR). This paper synthesises a decade of evidence to identify, classify and critically evaluate the factors influencing IR adoption and report quality. Design/methodology/approach A systematic literature review methodology is used. Relevant studies were identified through a multi-stage search of Scopus and Google Scholar, applying explicit inclusion criteria (peer-reviewed empirical studies examining IR as a dependent variable). Findings Corporate governance mechanisms (especially board characteristics) and multi-factor drivers emerge as prominent determinants. The literature exhibits imbalances, including a theoretical reliance on agency and stakeholder theory, an overuse of disclosure indices that emphasise quantity and a geographical concentration in advanced economies. Originality/value This review provides the first up-to-date synthesis of empirical evidence on IR determinants covering the full trajectory of the field’s development. This study offers a rigorous diagnosis of the literature’s theoretical, methodological and contextual gaps and advances a detailed research agenda. The findings of this study deliver actionable insights for researchers by pinpointing areas that require deeper investigation (e.g. new theoretical lenses, improved measurement of IR quality, developing-country and industry-specific analyses). Practitioners and regulators can also benefit from the consolidated evidence on which governance practices and contextual factors most strongly drive high-quality IR, helping to enhance IR implementation and policy.

Fission and friction: A systematic review of individual-level determinants of attitudes toward nuclear energy in advanced economies

Managing the circular economy: A case of the European union countries.

Abstract This study evaluates the causal impact of innovation on firm productivity in the Middle East and North Africa (MENA) region, where economic structures and institutional frameworks differ from those in advanced economies. Drawing on World Bank Enterprise Survey data from Egypt, Jordan, Lebanon, Morocco, and Tunisia, the analysis employs the propensity score matching (PSM) method to estimate the productivity effects of innovation while minimizing selection bias. The findings reveal that innovation significantly improves firm productivity in Egypt, Jordan, Lebanon, and Morocco, with average treatment effects ranging from 28% to 44%. In Tunisia, the effect is positive but statistically insignificant, reflecting structural constraints such as limited access to finance, weak research-industry linkages, and rigid institutions. Further analysis shows that the productivity impact of innovation is heterogeneous across contexts: small firms in Egypt, Jordan, and Lebanon benefit the most, while medium-sized firms in Morocco and Tunisia record the strongest gains. Large firms display positive but generally insignificant effects, suggesting that innovation-driven productivity advantages are not evenly distributed across firm categories. These results underscore the need for context-specific innovation policies in the MENA region. Strengthening financial access, fostering collaboration between firms and research institutions, and tailoring strategies to firm characteristics are crucial for maximizing the productivity benefits of innovation. By focusing on emerging economies, this study contributes to the literature by providing new empirical evidence on the innovation–productivity nexus and highlights innovation as a key lever for competitiveness and sustainable growth in the region.

Food allergies (FA) represent an emerging public health concern in developing nations, with schools being critical settings for preventing life-threatening anaphylaxis. This study assesses the FA preparedness in China's primary and pre-primary institutions to identify key determinants of readiness and inform evidence-based policy. A national cross-sectional survey was conducted between June and December 2024. A principal-designated staff member from 4769 schools across 32 provinces and 300 cities completed an online questionnaire. Data were collected on school demographics, existing FA policies, staff training protocols, emergency medication access (specifically epinephrine), and staff knowledge of allergy management. Significant disparities in FA preparedness were identified between government-funded (public) and self-funded (private) institutions. Public schools demonstrated superior preparation regarding emergency medication availability (adjusted odds ratio [aOR] = 1.392, p < .001) and policy implementation (aOR = 1.161, p = .029). Preparedness drivers also differed by school type: public schools were primarily influenced by the presence of students with known allergies (aOR = 1.806), whereas private schools were more strongly driven by the presence of a school physician (aOR = 8.608). Furthermore, private schools reported greater barriers to policy implementation (τj: 2.253 for public vs. 2.540 for private, p < .001). A school's funding model is a key determinant of its FA emergency preparedness. These findings underscore the urgent need for uniform national standards for FA management in schools. In countries where there is no standardized FA management policy, a nationally approved evidence-based policy would not only enhance student safety but also empower the staff at school to manage severe food allergic reaction. The establishment of such policy are of particular importance in developing countries where the prevalence of FA will increase with economic advancement.

ABSTRACT Achieving deep decarbonisation to avoid exceeding the 2°C warming threshold remains challenging due to limited public support, largely driven by immediate economic concerns. This study investigates how the awareness of intergenerational climate justice – the unequal distribution of climate-related costs between current and future generations – affects public support for costly decarbonisation policies. A cross-national survey experiment (n = 22,370) across 10 advanced economies reveals that explicitly highlighting disproportionate climate impacts on younger generations significantly increases individuals’ willingness to accept near-term economic sacrifices for future climate benefits. Additional exploratory analysis shows that the treatment’s effect increases non-linearly at higher levels of income. These findings underline critical temporal biases in public opinion and suggest that emphasizing fairness in sharing climate burdens between generations could effectively enhance public acceptance of economically challenging climate policies. Highlighting intergenerational justice thus presents a viable strategy for policymakers seeking stronger public backing for sustainable climate actions.

This study examines the interrelationships between renewable energy consumption, economic policy uncertainty (EPU), and environmental quality in G7 economies over the period 1991–2020. Specifically, it explores whether economic policy uncertainty moderates the environmental benefits of renewable energy consumption, thereby addressing an important gap in the energy–environment nexus literature. Using second-generation panel econometric methods, including fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS), the analysis confirms the existence of a long-run cointegration relationship among renewable energy consumption, EPU, carbon dioxide (CO₂) emissions, and the ecological footprint (EF). The novelty of this study lies in explicitly modeling the interaction between renewable energy consumption and economic policy uncertainty while simultaneously employing CO₂ emissions and the ecological footprint as complementary indicators of environmental quality. The results indicate that renewable energy consumption significantly reduces both CO₂ emissions and EF, whereas economic policy uncertainty independently exacerbates environmental degradation. Notably, the interaction term reveals that, when combined with renewable energy consumption, economic policy uncertainty amplifies its mitigating effect on environmental pressure. Among the control variables, human capital is found to alleviate environmental degradation, while GDP per capita intensifies it. In contrast, foreign direct investment contributes to reductions in both CO₂ emissions and the ecological footprint. These findings highlight the dual role of economic policy uncertainty and provide robust empirical evidence to support the formulation of stable yet flexible energy and environmental policies. The results further underscore the importance of policy coherence, renewable energy expansion, and human capital development in achieving long-term environmental sustainability in advanced economies. Keywords: G7 economies; renewable energy consumption; economic policy uncertainty; environmental quality; CO₂ emissions; ecological footprint; energy–environment nexus.

This study examines the short-run relationship among artificial intelligence (AI), renewable energy, and economic growth across the G7 countries, China, and South Korea, employing two complementary panel datasets spanning different time horizons. Specifically, Models A1 and A2 utilise annual data for the 2010–2025 period, while Models B1 and B2 focus on a shorter window (2017–2025). Motivated by the ongoing debate on whether AI-driven digital transformation can coexist with environmental sustainability, the analysis integrates technological and energy–economics frameworks. Thus, using panel data and the Fixed Effects (FEs) estimator with Driscoll–Kraay robust standard errors, four models (A1, A2, B1, B2) are estimated to explore how AI investment affects economic growth and energy demand in the short run. The results indicate that AI investment alone does not significantly enhance short-run economic growth, reflecting adjustment costs and learning effects in the early phase of AI adoption. However, this does not imply that AI is ineffective per se. Rather, the findings show that when AI investment is combined with higher renewable energy capacity, its growth impact becomes positive and statistically significant, underscoring the importance of complementary green energy infrastructure in unlocking the short-run benefits of AI-driven transformation.

Conventional food security strategies have largely been formulated under assumptions of population growth, abundant agricultural labor, and stable global trade. However, many advanced economies—particularly in East Asia—are entering a shrinking-society context characterized by population decline, rapid aging, and regional depopulation. This paper argues that demographic shrinkage should be understood not as a peripheral trend but as a landscape-level structural pressure that destabilizes incumbent agri-food systems. Drawing on the Multi-Level Perspective (MLP), the study conceptualizes demographic shrinkage as a cumulative force that erodes the labor base, productive capacity, and institutional stability of food systems, thereby weakening regime path dependence. Building on this framework, it advances Food Security 3.0 as a theory-driven contribution to sustainability research. Food Security 3.0 reconceptualizes food security under shrinkage conditions as a problem of systemic resilience rather than production expansion or import diversification, and theorizes food technology—including smart and automated agriculture, alternative proteins, and AI-enabled supply chains—as transitional infrastructure enabling regime reconfiguration under structural constraints. By integrating demographic change, socio-technical transitions, and governance, the study reframes food security as a question of resilience-oriented system design, strategic self-reliance, and integrated food-system governance. While anchored in the East Asian experience, the framework offers theoretical and policy-relevant insights for shrinking societies confronting overlapping demographic, climatic, and geopolitical pressures.

Purpose and Design This study develops a 5IR-driven Auditing Architecture designed to enhance the detection of money-laundering risks within both emerging and advanced economies. Anchored in risk-governance theory and human–AI collaborative assurance, the architecture introduces an integrated multilayer system that shifts auditing beyond traditional continuous auditing—associated with Industry 3.0—towards adaptive, cognitive, and autonomous assurance consistent with the Fifth Industrial Revolution (5IR). Method and Approach The study employs a comparative applied methodology combining: (1) cross-country benchmarking of AML regulatory and auditing practices. (2) expert evaluations from regulators, auditors, and AML specialists. (3) a prototype cognitive risk-signalling module tested on real-world AML cases from selected markets. A mixed-methods design is used to validate the architecture through predictive accuracy, expert judgement, and analytical modelling. Findings Results show that the proposed cognitive auditing architecture significantly improves the detection of high-risk money-laundering patterns compared to conventional digital or continuous auditing approaches. It enhances the identification of red-flag indicators, strengthens real-time risk scoring, and supports more consistent, explainable, and adaptive auditor decision-making across di-verse regulatory contexts. Originality and Value The study provides the first integrated 5IR-based architecture combining cognitive intelligence, adaptive risk-signalling, and hu-man–AI collaboration for AML auditing. It bridges a major gap in contemporary auditing research, which remains dominated by outdated continuous auditing models. Theoretical, Practical and Social Implications Theoretically, the study advances cognitive assurance theory by proposing a multilayer 5IR auditing architecture. Practically, it provides regulators, auditors, and AML units with an actionable system that improves oversight quality. Socially, the architecture contributes to combating financial crime, enhancing transparency, and strengthening financial stability.

ABSTRACT Large proportions of the workforce in advanced economies have jobs that involve high-intensity information-processing, complex problem-solving, and continuous learning. Using European-wide data to explore the relationship with job stress and accounting for key individual as well as organisational and societal factors, this paper demonstrates how ‘knowledge work’ can take on two very different faces: One that shows itself as exceptionally low probabilities of negative job stress when organisational procedures and interpersonal relationships at work are experienced as supportive; another that is evident from steep increases in the probability as support decreases. This phenomenon that is unique to highly educated workers in innovation-intensive economies and particularly pronounced in team-based settings suggests that stress here is induced not only by more intense job demands but also by societal norms that tie personal value and identity tightly to job performance, as validated by support from managers and colleagues.

Abstract The study examines the dynamic relationship of fiscal instruments, renewable energy consumption and cost of pollution in six Mediterranean economies (France, Italy, Malta, Slovenia, Greece and Croatia) over 2000–2023. Moving beyond conventional emissions-based metrics, pollution cost is employed as a comprehensive indicator of environmental and economic burden. Both an evidential analysis, through the integration of the Kuramoto Dynamic Model (KDM) used to determine the synchronization among environmental tax revenues, environmental protection spending, and renewable energy consumption, in terms of policy and coherence of energy markets has been undertaken, and synchronization has been linked to cost of pollution through a feedback loop, to measure how the conscious and coordinated fiscal energy policies would affect the amount of economic benefits derived from relaxing environmental damage. The feedback loop to the eco-coherence is implemented in a Cross Sectionally Augmented Nonlinear Autoregressive Distributed Lag (CS NARDL) to observe the asymmetric short-run and long-run responses on pollution cost to positive and negative shocks from the three instruments. The results are that greater eco-coherence leads to lower pollution costs, with renewable energy consumption having the greatest level of influence on the system eco-coherence. The asymmetric estimation indicates that decreases in renewable energy consumption or fiscal measures have a more negatively asymmetric influence on pollution cost in comparison to the gains achieved with an equivalent increase, indicating the risk of political retractions of fiscal policies. This combined modelling approach represents a different perspective on measuring environmental policy effectiveness, emphasizing sustained, aligned fiscal commitment, and adopting renewable energy. Policy implications suggest a need for regional alignment to secure any gains from alignment, and to protect against deterioration that could erode environmental and economic advancement. Graphical Abstract

Corruption within the leadership and management of Nigerian higher education is a substantial impediment to the sector's capacity to foster social and economic advancement. This study aims to understand the various forms of academic corruption among leaders in Nigerian higher education institutions (HEIs) and identify potential remedies for corrupt practices. Employing a systematic literature review methodology across Web of Science, Scopus, ERIC, DOAJ, and Google Scholar, 33 papers were included in the analysis, all of which highlighted the prevalence and rising concern of corruption among Nigerian higher education leaders and management. Findings indicate the most common forms of corruption are bribery, misappropriation of funds, favouritism/nepotism, embezzlement, and selling of admission and appointments. The proposed solutions emphasise strengthening anti-corruption agencies, promoting accountability, implementing ethical re-engineering, and leveraging technology.

Exports have been identified as a critical catalyst for a nation's economic advancement, playing a pivotal role in optimizing productivity, fostering competitiveness, and enhancing the quality of life for its citizens through job creation and income generation. Oriente Antioqueño has emerged as a pivotal region for Colombia's foreign trade, owing to the diversity of its product and service offerings, its expanding infrastructure, the presence of a free trade zone, and the availability of an international airport. Nevertheless, to consolidate its position in international markets, it is imperative that the company engage in meticulous planning, the development of robust capabilities, and rigorous studies and analyses. These efforts will enable the company to capitalize on the opportunities offered by globalization. Consequently, internal, strategic, and relational factors emerge as essential elements for competing successfully in the foreign market and ensuring long-term sustainability. A quantitative approach was utilized to conduct market research with 101 exporting companies of varying sizes located in the subregion. The objective of this research was to identify the critical factors that determine export success for companies in Eastern Antioquia.

In the contemporary era, globalization is a leading force, especially in the economic domain. Its drive toward economic expansion and technological advancement has repeatedly pushed ecological concerns to the margins while amplifying anthropocentric patterns of life. Through a constructive theological method that brings pneumatological analysis into dialogue with Enrique Dussel’s vision of trans-modernity, this research seeks to discern how Christian understandings of humanity and spirituality can be reoriented to embody ecological responsibility. This research highlights how trans-modernity establishes a conceptual framework that acknowledges ecology as a subject worthy of respect. Simultaneously, theological reflection identifies the Holy Spirit as the sustaining presence who renews human consciousness and reshapes ecological ethics toward a non-anthropocentric way of life, enabling humanity to live in solidarity with a groaning world. The research therefore concludes that a trans-modern ecological spirituality, built on interdependence and Spirit-empowered ecological commitment, offers a necessary theological framework for responding to the ecological crisis of the Anthropocene.