The existing literature is sparse on the role of international finance in modeling the FDI-growth nexus. This study integrates the role of international trade and external debt in the FDI-economic growth nexus for Brazil, Nigeria, and Vietnam. We apply the Autoregressive Distributed Lag (ARDL) model to annual data covering the period 1990-2021. The results show that FDI and trade have positive but insignificant effects on economic growth in all three countries. In addition, our results show that external debt hampers long-term economic growth in these countries. Based on the results, we propose country-specific recommendations that take into account specific economic and financial conditions, global market dynamics, and the long-term development goals of developing countries.

The study compares four independent estimation techniques, the panel ARDL, FMOLS, DOLS (non-distributional), and quantile regression (distributional), examining the comparative impacts of green finance and financial inclusion in twelve emerging economies of the world based on data from 2014 to 2023. The estimates were unanimously used to justify the undeniable influences of green finance and financial inclusion on sustainable development. The results from the non-distributional techniques revealed that green finance and financial inclusion significantly positively impacted sustainable development in emerging economies. The quantile regression results showed that financial inclusion was more beneficial to sustainable development than green finance, although it was around the middle of the distribution. The quantile regression output further proved that the relationship between sustainable development and green finance in emerging economies is weaker than that between financial inclusion. According to these findings, green financial inclusion holds the potential to advance the achievements of sustainable development in emerging economies.

Emerging economies are experiencing extreme climatic conditions that significantly affect sustainable development through the environmental route. These climatic conditions, being tied to growing population and increasing growth drives in emerging economies, are ultimately affecting sustainable development. With the ecological basis for green finance, this study aims to find out the role of green finance in mitigating climate vulnerability and also whether climate vulnerability effectively moderates its possible detrimental effect on sustainable development in emerging economies for 21 countries and from 2010 to 2023. The study found that green finance commitments in emerging economies reduce climate vulnerability in the short run with supportive regulation but harm the environment in the long run due to the inadequacy of regulatory frameworks. In contrast, green finance commitments adversely moderate the effects of climate vulnerability on sustainable development. This is a mirror reflection of regulatory failures to improve sustainable development as well. Based on this, emerging economies are required to make sure regulations are strong and constantly reviewed for long-term impact. Also, green finance commitments must be highly targeted and sequential to more vulnerable areas and countries first and before readjusting as the needs change.

Industrialization is as indispensable to the BRICS economies as they are to the global economy. Given the current focus on sustainable production and improvements in financial services, this study aims to analyze the impact of green finance and financial development on industrial growth, both individually and in interaction. Focusing on the five BRICS member states (Brazil, Russia, India, China and South Africa), the study covers the period from 2000 to 2023. Long-run estimates were obtained using panel FMOLS and DOLS estimators, and robustness checks were performed using the PCSE estimator and the Panel Dumitrescu and Hurlin (2012) causality test. The results of the long-run estimators suggest that the combined effect of green finance and financial development significantly benefits industrial growth in the BRICS countries. So far, green finance has overlooked their industrial sectors but its true flourishing is only possible if it is integrated into financial development policies. The research uses three long-run panel estimators — panel FMOLS, DOLS and PCSE — to confirm and validate its results. The validity of the PCSE estimator is assessed in terms of cross-sectional dependence. The results will inform the industrial, financial, and environmental policies of the BRICS countries.

The underdevelopment of the green bond market in emerging markets is a thing of silent yet unventilated concern among experts and policymakers. Our study identified institutional quality as one of the fundamental determinants of financial development, and so we decided to impose these factors in a green bond situation. Thus, our study consider to examine the influences of institutional quality in explaining green bond development in twenty-one (21) emerging economies from 2010 to 2023. Due to data availability factor and nature of data, the most suitable technique is the panel Fully Modified Ordinary Least Squares (PFMOLS) estimator. The proxy for the institutional quality data is regulatory quality, voice and accountability, and rule of law as well as their PCA estimation. The main findings of the study include that comprehensive institutional qualities are more beneficial to green bond development in emerging economies than isolated institutional quality components. Also, that policy efforts in emerging economies that pursue comprehensive institutional quality will be more beneficial to green bond development in emerging economies if the detrimental influences of trade openness, exchange rate stability, savings are addressed. The study recommends for more institutional reforms in emerging economies to be associated with improvement in savings, financial development, exchange rate stability and trade openness necessary for developing the green bond market.