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Financial inclusion and renewable energy in the face of extreme weather conditions: a CS-ARDL analysis of agricultural production in ASEAN-5

Author

Listed:
  • Shahzad Ali

    (Superior University Lahore)

  • Tahreem Ejaz

    (Superior University Lahore)

  • Ali Sajjad

    (The Superior University, Lahore)

  • Rimsha Fiaz

    (The Superior University, Lahore)

Abstract

Extreme weather conditions have gained popularity among researchers; thus, this study got the opportunity to examine the nexuses between extreme weather conditions, financial inclusion, and agricultural productivity in ASEAN-5 countries (Malaysia, Philippines, Thailand, Pakistan, and Indonesia) using panel data from 1972 to 2023. In this regard, cross-sectional dependence, cross-sectional dependence, cross-sectional augmented Im, Pesaran, and Shin, and cross-sectional augmented dickey–fuller unit root tests and the CS-ARDL approach are considered the most effective methods for assessing the data and testing the hypothesis. According to the result, human capital, financial inclusion, and ICT are significantly promoted, and weather conditions are inverse to agricultural productivity. Consequently, the study suggests that the ASEAN-5 nations should implement adaptable, effective, and efficient financial policies and use advanced technology related to finance and weather forecasting to improve agricultural productivity.

Suggested Citation

  • Shahzad Ali & Tahreem Ejaz & Ali Sajjad & Rimsha Fiaz, 2025. "Financial inclusion and renewable energy in the face of extreme weather conditions: a CS-ARDL analysis of agricultural production in ASEAN-5," Economic Change and Restructuring, Springer, vol. 58(3), pages 1-23, June.
    • Handle: RePEc:kap:ecopln:v:58:y:2025:i:3:d:10.1007_s10644-025-09886-z
    DOI: 10.1007/s10644-025-09886-z
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    Keywords

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    JEL classification:

    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government

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