Sustainability | Free Full-Text | Economic Complexity and Ecological Footprint: Evidence from the Most Complex Economies in the World


The paper introduces financial complexity as an explanatory variable of ecological footprint change, together with earnings per capita and fossil gas vitality consumption. The hyperlink between the ecological footprint and financial complexity is explored inside a panel of 48 advanced economies over the interval 1995–2014. The panel evaluation relies on the annual knowledge sequence of the financial complexity index (ECI), fossil gas vitality consumption, earnings per capita, and the ecological footprint of manufacturing. The econometrical evaluation, primarily based on second-generation unit root exams, cointegration testing, and estimation of totally modified peculiar sq. (FMOLS) and dynamic peculiar least sq. (DOLS) fashions in a heterogeneous panel of nations, revealed a validated constructive long-run affiliation between the ecological footprint of manufacturing as dependent variable and the financial complexity index, gross home product per capita, and fossil gas vitality consumption. The paper sheds mild on the vital state of affairs of environmental sustainability, bearing in mind that 75% of nations underneath examination are in ecological deficit.
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