This research examines how financial development, energy efficiency and energy inefficiency, green technology, and research and development (R&D) affect environmental conditions and ecological footprint in the Group of Seven (G7) countries. The study combines two theoretical models, including the Environmental Kuznets Curve (EKC) and the Stochastic Impacts by Regression on Population, Affluence, and Technology (STIRPAT), within a unified framework. This study addresses a key gap in the literature by examining whether financial development follows a distinct nonlinear environmental pathway beyond the traditional income-based EKC framework. Using annual data from 1994 to 2023, the analysis applies the Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) approach to account for cross-sectional dependence and long-run heterogeneity among G7 economies. The findings indicate that the G7 does not support the traditional EKC hypothesis, although a U-shaped relationship between environmental degradation and financial development exists. Energy-related factors play a central role in shaping environmental outcomes, with energy efficiency and green technology significantly alleviating environmental pressure, and green technology proving to be the most influential among them. While energy inefficiency is associated with greater environmental stress, its effect remains statistically insignificant, suggesting that efficiency improvements are more decisive than reductions in inefficiency. Beyond energy dynamics, financial development and R&D investment also contribute significantly to environmental improvement, highlighting the complementary role of technological progress and financial systems in promoting environmental sustainability. The robustness results confirm the main findings. Overall, the study underscores the critical role of technological innovation and energy efficiency in promoting sustainability and challenges the applicability of the traditional EKC framework in advanced economies. The findings contribute to a deeper understanding of the multifaceted relationships between financial development, energy efficiency and inefficiency, green technology, and R&D, and their implications for sustainable development.

Research background: We develop a conceptual framework based on a systematic and comprehensive literature review on smartphones as consumption tools globally.Purpose of the article: Building our argument by drawing on data collected from Comscore, Econsultancy, and Statista, we performed analyses and made estimates regarding the adoption of Internet-enabled devices for shopping purposes: selected retail and shopping activities of EU smartphone users, most popular mobile shopping apps in the U.S. (by reach), adults in the EU who never make purchases on mobile devices (by gender), and consumers who use a mobile device for product research while shopping in-store worldwide (by country).Methods: The data for this research were gathered via an online survey questionnaire and were analyzed through structural equation modeling on a sample of 4,200 respondents.Findings & Value added: Smartphones have permeated the online community swiftly. The difficult task retailers confront is in obtaining consumers’ mutual support in supplying the information required to provide a customized shopping experience. Mobile payment privacy is associated with apprehensions that users may have concerning what will become of the data supplied when they adopt mobile payment. A satisfactory array of facilitating circumstances brings about greater purpose to adopt mobile shopping applications, especially when diverse viable functions such as convenience and swift purchase are provided. Intention to raise subsequent benefits from mobile buying should harmonize the lasting value predisposition of the mobile purchasers. The essential issue encountered by the service suppliers is how to turn the developing mobile payment operation into financial earnings.

Following De Grauwe (2016), this research advances the idea according to which economies that are part of a monetary union issue debt in a medium of exchange they cannot control: financial markets develop the capacity to impose default on such economies. We are interested in how previous research analyzed the notion that, when economies are autonomous and they employ the exchange rate as a vehicle to handle asymmetric shocks, they confront comparable constraints on the performance of exchange rate strategies. When a monetary union is affected by significant asymmetric shocks, the member economies have to deal with tough adjustment issues. Empirical and secondary data are used to back the assertion that, in a monetary union, economies that are affected by long-lasting asymmetric demand shocks demand wage elasticity and labor flexibility to rectify for them, and if the latter generate substantial budget deficits, financial markets tend to intensify the consequences of the asymmetric shocks, boosting the demand for severe regulation of wages and labor flexibility. Our article makes conceptual and methodological contributions to the view that member economies of a monetary union are exposed to varying market reactions, generating more volatility in the business cycle: an economy undergoing a recession and a rise in the budget deficit might be affected by wide-ranging transactions of its government bonds, causing a liquidity crisis and superior interest rates, and possibly coercing the government of that economy to adopt budgetary austerity measures, thus intensifying the recession.