This paper examines the causal relationship between industrialization, globalization, information communication technology (ICT) and environmental degradation in Malaysia during 1970–2019. It uses two indicators of environmental degradation (carbon emissions and ecological footprint), three dimensions of globalization (political, social, and economic) and three indicators of ICT (users of internet, mobile cellular, and fixed telephone subscriptions). It utilizes Granger causality technique in frequency domain which differentiates between permanent and temporary causality, Vector Error Correction approach as well as Variance Decompositions. The bound test shows that the variables have cointegration relationship. It reveals joint long-run and short-run causality from industrialization, globalization, and ICT to carbon emissions, albeit the causality to ecological footprint is tenuous. It indicates that industrialization, globalization, and ICT significantly predict carbon emissions at high frequency than at low frequency. A substantial percentage of the forecast error variance in environmental degradation are explained by industrialization, globalization, and ICT. The robustness of the empirical outcomes is confirmed by the alternative proxies of the variables. Our study implies that industrialization, globalization, and ICT are determinants of environmental degradation. Therefore, policies to mitigate environmental problem should prioritize these variables to attain green economy.

The study investigates the nexus between natural resources rents (TNRR), Information and communication technology (ICTE), economic growth (EGT), institutional quality (IQ) and financial development (FD) in Malaysia, using quarterly data from 2001Q₁ to 2020Q₄. Motivated by the critical role of natural resources management, digital information, and institutional strength in promoting financial sector development in Malaysian economy, this study seeks to expose the interplay between these variables. Fourier unit root tests were utilized to determine the order to integration among the variables, revealing a unique order of integration. The RALS-FARDL cointegration approach confirmed the presence of long-run nexus, which was further validated by the Bayer-Hanck combined cointegration test. To estimate the long-run elasticity, DOLS methodology was employed, identifying a resource curse for the financial sector in Malaysia. The results demonstrate that ICTE positively affects FD. Moreover, higher IQ enhances and strengthens the financial sector. Further, the positive influence of the combined effect of ICTE and natural resources further confirms that ICTE positively moderates the association between TNRR and FD. Causality analysis confirmed bidirectional causal interaction between FD and economic growth, supporting the feed-back hypothesis. The study highlights several crucial policy implications. The Malaysian government should prioritize diversifying investment beyond natural resources and reinforce the use of ICTE for conserving natural resources in such a way to leverage the financial sector. By fostering an institutional framework and investing in ICTE, Malaysia can achieve sustainable economic growth in the long-run.