This study applies panel data analysis to investigate how the foreign direct investment (FDI) inflows in 41 countries from 1995 to 2024 vary with geopolitical risk (GPR) and institutional quality. Using a Hausman specification test, a fixed‐effects model with clustered robust standard errors is used to address unobserved country heterogeneity and enhance the reliability of estimates. The results show that GPR and inflation negatively affect FDI inflows. The quality of institutions, as represented by the Rule of Law (ROL), is negatively associated with FDI, suggesting that FDI investors in some emerging economies might prioritise cost competitiveness over stronger institutions. Market openness (MO) and population size have a positive impact on FDI inflows, while GDP has a negative impact. The results underscore the need to uphold macroeconomic stability, competitiveness and policies conducive to foreign investment amid increased geopolitical uncertainty. This study not only reviews the literature on the determinants of FDI but also offers policy implications for building investment resilience amid geopolitical uncertainty by providing comprehensive evidence from a panel of diverse developed and emerging economies.
This article examines the non‐linear association between financial development and renewable energy consumption over 16 selected G20 countries from 1996 to 2022, introducing and empirically validating the Financial Kuznets Curve (FKC). Using a bank‐based composite financial development index and retaining the PMG‐ARDL estimator, the findings confirm an N‐shaped FKC characterised by a coefficient (), over three development phases, with turning points identified at financial development values of 0.114 and 2.491, confirming findings using FMOLS, DOLS and IV‐2SLS as robustness. During intermediate stages, the results are consistent with capital being temporarily redirected towards fossil‐fuel‐intensive sectors, associated with a suppression of REC. At advanced stages, mature and diversified financial systems re‐emerge as strong facilitators of clean energy adoption. Governance quality, green economy and FDI each exert significant positive long‐run effects on REC, while carbon emissions reflect a structural fossil‐fuel lock‐in that dampens renewable energy shares. The error‐correction term confirms a stable long‐run cointegrating association, with approximately 50% of disequilibria corrected each year. Providing empirical evidence for stage‐specific financial policies and green economy frameworks in line with global climate commitments and the Sustainable Development Goals.
This study focuses on investigating whether US monetary policy uncertainty (MPU) has a cross‐border spillover effect on monetary demand in Canada. We assess long‐term dynamic changes and potential asymmetric effects, using quarterly data from 1996 to 2025 with an ARDL and a nonlinear ARDL approach. The results of linear ARDL showed that for every 10 per cent increase in US monetary policy uncertainty, Canadian real money demand would increase by approximately 0.43 per cent. This indicates that the spillover effects through trade, finance and exchange rate channels are relatively mild but detectable.
This paper provides a comprehensive assessment of policies and economic incentives aimed at developing a renewable hydrogen industry in Australia. As global decarbonisation efforts intensify, renewable hydrogen is emerging as a potential substitute for fossil fuels. However, substantial technological and economic challenges must be overcome to achieve competitiveness and widespread adoption. This study examines both demand- and supply-side policies, presenting a novel taxonomy to guide Australian policymakers in shaping effective strategies. A structured desktop assessment is then applied to key policy instruments and to Australia's current policy mix, identifying strengths in supply-side support but weaker coverage of demand creation, price competitiveness and market formation. To complement this assessment, a stakeholder survey of government and industry participants is used to evaluate the importance and adequacy of current policy settings. The survey identifies the largest shortfalls in reliable demand creation, access to low-cost renewable electricity, predictable pricing signals and long-term policy certainty. It also shows that these gaps translate directly into commercial requirements, including long-term offtake contracts, high certainty thresholds and a persistent risk premium for investment. The findings suggest that Australia's policy framework is too supply-led, and that stronger demand-side and market-formation measures are required to support a scalable renewable hydrogen industry.
This study examines the impacts of fiscal decentralisation and spatial proximity on local economic growth in Vietnam, utilising panel data from 63 provinces and cities during the period 2011-2020. Spatial panel econometric models are employed to capture both the direct and indirect effects of these factors. The findings reveal that fiscal decentralisation has a positive effect on economic growth through the ratio of central government budget subsidise to local funding, while local public expenditure exerts a positive influence. Spatial proximity demonstrates substantial positive spillover effects; however, spatial competition and institutional influence from neighbouring provinces appear minor and statistically insignificant. These results underscore the critical roles of fiscal autonomy, local governance and regional spillovers in fostering local economic growth in Vietnam, offering valuable insights into the relationships between fiscal decentralisation, local growth and regional spillovers.
