Azimi, Mohammad Naim; Rahman, Mohammad Ma izu ; Ma aseni, Tek Na ayan
A icle
Ad ancing sus ainable de elopmen goal 8 a ge s: The ole o
ins i u ional quali y, economic complexi y, and s a e agili y in G20
na ions (2000-2023)
Resea ch in Globaliza ion
P o ided in Coope a ion wi h:
Else ie
Sugges ed Ci a ion: Azimi, Mohammad Naim; Rahman, Mohammad Ma izu ; Ma aseni, Tek Na ayan
(2025) : Ad ancing sus ainable de elopmen goal 8 a ge s: The ole o ins i u ional quali y,
economic complexi y, and s a e agili y in G20 na ions (2000-2023), Resea ch in Globaliza ion, ISSN
2590-051X, Else ie , Ams e dam, Vol. 10, pp. 1-19,
h ps://doi.o g/10.1016/j. esglo.2025.100278
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Ad ancing sus ainable de elopmen goal 8 Ta ge s: The ole o ins i u ional
Quali y, economic Complexi y, and s a e agili y in G20
na ions (2000–2023)
Mohammad Naim Azimi
a,*
, Mohammad Ma izu Rahman
a
, Tek Ma aseni
b
a
School o Business, Uni e si y o Sou he n Queensland, QLD 4350, Aus alia
b
Cen e o Sus ainable Ag icul u al Sys ems (CSAS), Uni e si y o Sou he n Queensland, QLD 4350, Aus alia
ARTICLE INFO
JEL codes:
Q01
O40
J20
P48
F50
Keywo ds:
SDG 8
Ins i u ional quali y
S a e agili y
Economic complexi y
Economic g ow h
ABSTRACT
As he global communi y nea s c i ical miles ones in achie ing he Sus ainable De elopmen Goals (SDGs), he
in e play o dynamic o ces con inues o eshape p og ess ajec o ies. This s udy explo es he ad ancemen o
SDG 8 a ge s (“Decen Wo k and Economic G ow h”) h ough he lens o h ee inc easingly p ominen ac o s:
ins i u ional quali y, economic complexi y, and s a e agili y, ocusing on he G20 na ions om 2000 o 2023.
Guided by an ex ensi e li e a u e e iew, h ee esea ch ques ions, and nine hypo heses, his s udy o mula es
ou empi ical models aligned wi h ou SDG 8 a ge s and employs he c oss-sec ionally augmen ed au o e-
g essi e dis ibu ed lags model, u he alida ed h ough dynamic common co ela ed e ec s mean g oup es-
ima o s. The indings e eal ha economic complexi y, ins i u ional quali y, and enewable ene gy signi ican ly
enhance economic g ow h and labou p oduc i i y, while educing unemploymen , and CO
2
emissions. In s a k
con as , s a e agili y and p ima y ene gy use exe de imen al impac s, unde sco ing he nega i e in luence o
mac oeconomic ins abili y and he pe sis en eliance o g ow h and labou p oduc i i y on p ima y ene gy
sou ces, which in ensi y unemploymen and CO
2
emissions. Addi ionally, globalisa ion, human de elopmen ,
en i onmen al echnologies, u banisa ion, and o eign di ec in es men con inue o posi i ely in luence g ow h
and labou p oduc i i y while mi iga ing unemploymen and CO
2
emissions. Unde he combined in luence o
economic complexi y, s a e agili y, and ins i u ional quali y, he indings alida e he En i onmen al Kuzne s
Cu e hypo hesis, e ealing a ede ined u ning poin shaped by hese me ics. Beyond his h eshold, he
en i onmen al consequences o achie ing SDG 8 a ge s a e expec ed o aba e, laying a c i ical ounda ion o he
policy implica ions ou lined in he s udy.
1. In oduc ion
As he global pu sui o he Uni ed Na ion’s Sus ainable De elop-
men Goals (SDGs) accele a es, na ions a e swi ly app oaching c i ical
deadlines o e adica e po e y, educe unemploymen , and ensu e
decen wo k o all while sa egua ding en i onmen al sus ainabili y
(Mele hil e al., 2025). By 2024, some p og ess has been achie ed. Fo
example, he global po e y a e has allen om 10 % in 2015 o 8.6 % in
2023 (UNDP, 2025). Despi e his, o e 700 million indi iduals s ill li e
in ex eme po e y, highligh ing pe sis en challenges. While he global
unemploymen a e is epo ed a 4.5 %, egional dispa i ies emain
p onounced, wi h some a eas g appling wi h ala mingly high le els o
unemploymen . On he en i onmen al on , 15 % o e es ial
ecosys ems and 7 % o ma ine a eas ha e been designa ed as p o ec ed
a eas (UNSDG, 2024), bu signi ican s ides a e needed o bols e
conse a ion e o s. Renewable ene gy’ now accoun s o 29 % o global
elec ici y gene a ion, ye he emaining 71 % con inues o ely on un-
sus ainable ene gy esou ces, unde sco ing u gen need o ans-
o ma ion in household and indus ial ene gy use. The 2024 Uni ed
Na ions’ SDG Repo (UNSDG, 2024) pain s a sobe ing pic u e, wi h
almos 50 % o he SDGs showing only ma ginal p og ess and o e a
hi d a e ei he s agna ing o eg essing. The linge ing e ec s o he
COVID-19 pandemic, in ensi ying geopoli ical ensions (Wang e al.,
2024), and moun ing ade ba ies be ween key global playe s na ions
(Zuo & Majeed, 2024) ha e s ymied p og ess. As a esul , an addi ional
23 million people ha e been h us in o ex eme po e y, while mo e
* Co esponding au ho .
E-mail add ess: [email p o ec ed] (M.N. Azimi).
Con en s lis s a ailable a ScienceDi ec
Resea ch in Globaliza ion
jou nal homepage: www.sciencedi ec .com/jou nal/ esea ch-in-globaliza ion
h ps://doi.o g/10.1016/j. esglo.2025.100278
Recei ed 13 Janua y 2025; Recei ed in e ised o m 24 Feb ua y 2025; Accep ed 25 Feb ua y 2025
Resea ch in Globaliza ion 10 (2025) 100278
A ailable online 4 Ma ch 2025
2590-051X/© 2025 The Au ho s. Published by Else ie L d. This is an open access a icle unde he CC BY license (
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han 100 million people now ace acu e hunge compa ed o 2019
(Hunge & High, 2025). These se backs a e p ima ily d i en by poli ical
ins abili y, economic inequali y, and pe sis en a med con lic s, exac-
e ba ing he pligh o a ec ed na ions. Clima e changes u he com-
pound he scena io, wi h 2023 ma ked as he ho es yea on eco d and
global empe a u e app oaching he pe ilous h eshold o 1.5 ◦C (Yea ,
2024).
Regional dispa i ies in SDG achie emen s emain s a k. Eu opean
coun ies such as F ance, Ge many, Finland, Sweden, Denma k, and he
Uni ed Kingdom ha e eco ded imp essi e sco es o o e 80 %,
e lec ing obus achie emen s (La o une e al., 2024). In s a k con as ,
sub-Saha an A ican coun ies, including Chad, Sou h Sudan, and he
Cen al A ican Republic, s uggle wi h sco es below 50 %. In Asia,
na ions like Japan, China, and Sou h Ko ea con inue o make s eady
headway, while coun ies like A ghanis an, Pakis an, India, and Yemen
ace moun ing challenges due o con lic , poli ical un es , and un-
checked popula ion g ow h. Mo eo e , Aus alia, Canada, and he
Uni ed S a es achie e sco es o 77.5, 79.2 and 74.4, espec i ely, indi-
ca ing mode a e p og ess. Howe e , signi ican challenges pe sis ,
pa icula ly in e ec i ely add essing clima e change, p omo ing ma ine
ecosys ems, and ensu ing esponsible p oduc ion and consump ion
(UNSDG, 2024; Canada, 2024).
Appa en ly, he G20 na ions con inue o g apple wi h signi ican
challenges in mee ing hei SDG commi men s wi hin he s ipula ed
imelines. These se backs a e u he compounded by pe sis en s a e
agili y and ade ensions in se e al membe na ions, which dis up
s eady p og ess owa ds achie ing he SDGs. F agile s a es o en endu e
educed g oss domes ic p oduc (GDP) g ow h and heigh ened economic
ins abili y, esul ing in limi ed access o ma ke and educa ion, inade-
qua e heal hca e se ices, highe unemploymen , and inc eased gende -
based dispa i ies and exclusions. Such agili y poses a pa icula
impedimen o he ad ancemen o SDG 8, which ocuses on inclusi e
and sus ainable g ow h and decen wo k o all. Fig. 1 illus a es he
end o s a e agili y sco es ac oss G20 na ions, wi h a minimum
a e age sco e o 41.116 and a maximum a e age sco e o 41.30, and a
p ojec ed sligh decline o an a e age sco e o 40.55 in 2025. Howe e ,
his sco e emains signi ican ly high, con inuing o dis up p og ess o-
wa ds SDG 8 a ge s. Fu he mo e, while eal GDP has expe ienced a
sligh decline, i s eco e y ajec o y in 2025 appea s con ined o
egaining p io lagged alues, o e ing li le e idence o subs an ial
o wa d momen um. Meanwhile, economic complexi y, a c i ical d i e
o dynamic ma ke o ces, emain ela i ely unchanged, unde sco ing
he need o a ge ed in e en ions o add ess agili y and os e sus-
ainable economic esilience.
Al hough ecen s udies by Sianes e al. (2022), Mish a e al. (2024);
Al i e i´
c e al. (2023); Rasool (2023); Gup a and Vegelin (2016); Jia
e al. (2021); Yap e al. (2023); Chen e al. (2024); Ve a e al. (2022);
Ma ín-Blanco e al. (2022); Elsamadony e al. (2022); Choudha y e al.
(2025); Bashi e al. (2024); and A ne e al. (2020) ha e ex ensi ely
examined he impac s o nume ous adi ional ac o s such as ene gy
consump ion, enewable ene gy, pe capi a GDP, inancial de elopmen ,
FinTech, clima e change, inancial inclusion, go e nance, and po e y
on SDG ou comes, exis ing li e a u e signi ican ly lacks a comp ehensi e
ocus on he ole o eme ging dynamic ma ke o ces. This gap is
pa icula ly e iden in he con ex o SDG 8 a ge s, which equi e an
ample unde s anding o how hese dynamics eshape inclusi e g ow h,
labou p oduc i i y, unemploymen , and en i onmen al sus ainabili y.
Building on his backg ound, his s udy del es in o he in ica e in-
luences o s a e agili y and economic complexi y, unco e ing hei
ue impac s and magni udes on he p og ess o SDG 8 wi hin he G20
na ions. By ocusing on ou co e a ge s—sus ainable g ow h, labou
p oduc i i y, unemploymen , and he en i onmen al epe cussions o
p og essing owa ds hese a ge s—i p ima ily aims o p o ide a
nuanced unde s anding o hese challenges. To u he en ich his
analysis, i e alua es he ole o exis ing ins i u ional quali y amewo ks
in enabling hese na ions o con on agili y and complexi y while
cha e ing a pa h owa d achie ing SDG 8 a ge s wi h esilience and
inclusi i y. To guide he esea ch, ou pi o al ques ions a e posed: Fi s ,
o wha ex en do s a e agili y, economic complexi y, and ins i u ional
quali y, alongside con en ional d i e s, impac economic g ow h? Sec-
ond, how do hese ac o s shape labou p oduc i i y? Thi d, wha ole do
hey play in in luencing unemploymen a es? Fou h, how do hese
a iables a ec en i onmen al deg ada ion, and do hey ede ine he
En i onmen al Kuzne s Cu e hypo hesis wi hin he G20 na ions?
Answe ing hese ques ions will yield aluable insigh s in o he complex
dynamics in luencing p og ess owa ds SDG 8, o e ing a mo e
con empo a y, e idence-based unde s anding ha can e ec i ely guide
policymake s in add essing challenges and capi alising on oppo uni ies.
Fig. 1. Annual a e age ends o key dynamic ma ke o ces om 2000 o 2023. No es: Real GDP is in illion US$, S a e agili y anges be ween 0 and 100, and
economic complexi y is in S anda d In e na ional T ade P oduc Classi ica ion (SITP). Sou ces: The Wo ld Bank (WDI Na ional Accoun s Da a), The Fund o Peace
(F agile S a e Index), and O ganisa ion o Economic Coope a ion and De elopmen (OECD) (OECD, 2023) da abases.
M.N. Azimi e al.
Resea ch in Globaliza ion 10 (2025) 100278
2
This in es iga ion makes a no el con ibu ion o he exis ing li e a-
u e, en iching he con empo a y body o knowledge om se e al c i -
ical pe spec i es. Fi s , i o e s a ocused examina ion o SDG 8 a ge s,
an a ea ha has la gely been unde explo ed in p io s udies. By
le e aging he mos ecen da a and ends in p og ess owa d achie ing
SDGs and applying ad anced econome ic echniques, his s udy p o-
ides ac ionable insigh s ha can help policymake s capi alise on
exis ing oppo uni ies and add ess p essing policy- ela ed challenges.
Second, beyond accoun ing o he e ec s o adi ional socioeconomic
and sociodemog aphic indica o s, his s udy in eg a es eme ging dy-
namic ma ke o ces such as economic complexi y and s a e agili y,
which play pi o al ole in eshaping exis ing ma ke s a egies aligned
wi h SDG objec i es. I does so in he p esence o an inno a i ely con-
s uc ed ins i u ional quali y index, de eloped h ough a comp ehensi e
dis ance-based sco ing me hodology ha cap u es all dimensions o
good go e nance in luencing SDG 8 a ge ed p edic o s. This app oach
unde lines he g adual e olu ion o ins i u ional quali y in andem wi h
SDG 8 p edic o s, shedding ligh on speci ic policy a eas ha equi e
immedia e a en ion. Thi d, by alida ing he EKC hypo hesis in he
con ex o new me ics—s a e agili y, economic complexi y, and
ins i u ional quali y— he s udy iden i ies a e ised u ning poin o
sus ainable and esilien economic g ow h, emphasising he c i ical
con ibu ions o ins i u ional quali y and economic complexi y in
educing en i onmen al deg ada ion. This ede ined pe spec i e o e s
policymake s wi h ac ionable insigh s o align g ow h s a egies wi h
SDG 8 a ge s while os e ing en i onmen al sus ainabili y.
The s uc u e o he s udy is as ollows: Sec ion 2 e iews he la es
empi ical li e a u e. Sec ion 3 p esen s he da a and a iables. Sec ion 4
ou lines he me hodologies used o analysis. Sec ion 5 p esen s he e-
sul s, ollowed by a comp ehensi e discussion in Sec ion 6. Finally,
Sec ion 7 concludes he a icle.
2. Li e a u e e iew
2.1. Re iew me hodology
While he exis ing body o li e a u e o e s ex ensi e empi ical in-
es iga ions in o a ious ace s o SDG 8, indings o en emain ag-
men ed and mixed ac oss di e se economies. To ensu e a comp ehensi e
and sys ema ic unde s anding o he ac o s in luencing SDG 8 ou -
comes, his s udy conduc ed a s uc u ed li e a u e e iew ollowing a
igo ous me hodological app oach. The sea ch p ocess was execu ed
ac oss se e al epu able academic da abases, including Scopus, Web o
Science, JASTOR, Google Schola , and PubMed. These pla o ms we e
selec ed due o hei ex ensi e co e age o pee - e iewed academic
publica ions, pa icula ly hose add essing issues ele ance o sus ain-
able de elopmen , ins i u ional quali y, and economic g ow h. A s uc-
u ed sea ch s a egy was pe o med using a ge ed keywo ds and
ph ases di ec ly aligned wi h he s udy’s scope and objec i es. These
e ms included: “SDG 8”, “Decen Wo k and Economic G ow h”,
“Ins i u ional F agili y”, “Ins i u ional Quali y”, “Good Go e nance”,
Economic Complexi y”, “Economic Di e si ica ion”, “Poli ical Ins a-
bili y”, “En i onmen al Kuzne s Cu e”, “Employmen ”, Labou P o-
duc i i y”, “To al Fac o P oduc i i y”, “G20”, “En i onmen al
Quali y”, “Ma e ial Foo p in ”, “Ecological Foo p in ”, “Labou Hou s”,
“Globalisa ion”, and “Renewable Sou ces”. To ensu e a ocused and
ele an selec ion, Boolean ope a o s (AND, OR, NOT) we e applied o
e ine he sea ch esul s and exclude i ele an s udies.
The inclusion c i e ia o selec ing ele an s udies we e ca e ully
de ined o ensu e academic igou and hema ic ele ance. Only pee -
e iewed empi ical jou nal a icles published be ween 1990 and 2025
we e conside ed, cap u ing a comp ehensi e ange o esea ch spanning
his o ical ends and con empo a y de elopmen . The s udies p ima ily
ocused on SDG 8 ou comes, such as economic g ow h, labou p oduc-
i i y, and unemploymen . Addi ionally, esea ch examining he en i-
onmen al consequences o economic g ow h was also included o
p o ide a b oade unde s anding o he in e connec ions be ween
g ow h and ajec o ies and sus ainabili y. S udies we e excluded i hey
we e non-pee - e iewed (e.g., opinion pieces, con e ence abs ac s) o i
hey did no add ess ei he he di ec o spillo e impac s o socioeco-
nomic indica o s on SDG 8 ou comes.
The e iew highligh s a signi ican gap in he li e a u e: while he e
is an abundance o esea ch examining a ious dimensions o SGDs
h ough bo h quali a i e o quan i a i e lenses, limi ed a en ion has
been gi en o eme ging phenomena such as s a e agili y, economic
di e si ica ion, and he ole o ins i u ional se ups in shaping p og ess
owa d SDG 8. This gap is pa icula ly e iden wi hin he con ex o G20
na ions, whe e a ying ins i u ional capaci ies and go e nance s uc-
u es signi ican ly in luence economic ou comes. Al hough s udies like
Fonseca e al. (2020) ha e es ablished links be ween di e en SDGs, he
li e a u e emains unde de eloped in cap u ing how hese eme ging
phenomena a ec p og ess owa d achie ing SDG 8. The subsequen
subsec ions del e in o he co e hemes and indings o he e iewed
li e a u e, wi h a pa icula emphasis on ac o s shaping SDG 8 p og ess.
2.2. G ow h ajec o ies
Economic g ow h, a key componen o SGD 8, is g ounded in he
neoclassical g ow h heo y a icula ed by Solow (1956) and Swan
(1956), which emphasises he ole o capi al accumula ion, labou , and
echnological p og ess in d i ing economic g ow h. Howe e , ecen
empi ical s udies ha e del ed deepe in o his ela ionship, inco po-
a ing addi ional d i e s ha impac economic dynamics. Fo ins ance,
Chen and Xue (2024); Wang e al. (2024); Acemoglu e al. (2018);
Ga cia-Laza o and Pea ce (2023); Ba and Roy (2008); S e y Sama e al.
(2024); and Osakede e al. (2023) ha e analysed he ole o labou , o en
p oxied by he human de elopmen index, in shaping g ow h. Using
bo h panel and coun y-speci ic da a wi h di e se quan i a i e ech-
niques, hese s udies collec i ely demons a e he posi i e and endu ing
impac o labou on sus aining g ow h. Addi ionally, Huo e al. (2024)
examined he in e play be ween inancial inno a ion, echnological
ad ancemen s, and g ow h ac oss a panel o de eloping economies
(1990–2021) using he CS-ARDL model. Thei indings e eal ha
inancial and echnological inno a ions con ibu e o balancing g ow h
ajec o ies while ad ancing SDGs. Simila ly, Shahbaz e al. (2022)
in es iga ed he asymme ic e ec s o inancial de elopmen on g ow h
in a panel o en mos inancially de eloped na ions, employing a
h eshold ARDL model wi h labou and capi al as h eshold a iables.
Thei esul s unde sco e ha inancial de elopmen , condi ional on la-
bou and capi al, asymme ically sus ain long- e m g ow h. Mo eo e ,
s udies by Lukhmano a e al. (2025); Hussein e al. (2025); Alsabhan
and Alabdul azag (2025); and Rahman e al. (2025) p o ide mixed e -
idence on he ela ionship be ween ene gy use and economic g ow h,
a ying signi ican ly ac oss economic con ex s. Fu he con ibu ions by
Ra nawa i (2020); Zheng e al. (2024), and E lando (2020) employed
eg ession and causali y echniques o elucida e he link be ween g ow h
and inancial ma ke pe o mance, emphasising he ma ke s abili y-
g ow h nexus. While exis ing li e a u e also iden i ies u banisa ion
(Huang & Jiang, 2017), ins i u ional quali y (Azimi, 2022), and o eign
di ec in es men (Chee & Nai , 2010) as in eg al d i e s o g ow h,
he e emains a signi ican gap unde s anding he implica ions o s a e
agili y and economic complexi y on sus ainable g ow h wi hin he
exis ing ins i u ional se ups. To add ess his, he p esen s udy p oposes
he ollowing hypo heses:
H
1
: S a e agili y has a nega i e impac on g ow h sus ainabili y.
H
2
: Economic complexi y has a signi ican ly posi i e impac on
economic g ow h.
2.3. Employmen dynamics
Labou ma ke heo ies, such as he Keynes (2018) and s uc u alis
amewo ks (Micklew igh e al., 1989), unde sco e he c i ical ole o
M.N. Azimi e al.
Resea ch in Globaliza ion 10 (2025) 100278
3
mac oeconomic s abili y, human capi al, and e ec i e policy in-
e en ions in os e ing employmen gene a ion. This a ea has ga ne ed
conside able schola ly a en ion, pa icula ly ocusing on con en ional
p edic o s o unemploymen dynamics. Fo example, Alshyab e al.
(2021); Meh y e al. (2021); and Kim e al. (2019) espec i ely explo ed
he impac o inancial inclusion, in es men , and liquidi y on unem-
ploymen a es in eme ging economies, employing ad anced quan i a-
i e echniques. Thei esul s collec i ely con i med ha inancial and
in es men indica o s signi ican ly educe unemploymen . E dem and
Tugcu (2012) ook a dis inc app oach by examining human capi al
de elopmen , p oxied by educa ion le els, in ela ion o unemploymen
a es in Tü kiye h ough causali y analysis. Thei analyses e eal a
bidi ec ional causali y be ween human capi al and unemploymen ,
highligh ing he impo ance o aligning educa ional ini ia i es wi h
ma ke demands. Simila ly, Shaaibi h e al. (2020) examined he
g ow h-unemploymen nexus in I aq om 1999 o 2017 using a ec o
au o eg essi e model, concluding ha economic g ow h subs an ially
educes unemploymen . Banda e al. (2016) ex ended his analysis o
Sou h Asian na ions (1994–2012), con i ming ha obus economic
g ow h e ec i ely mi iga es unemploymen a es. Siddikee e al. (2022)
examined unemploymen and g ow h dynamics ac oss 14 de eloped
and de eloping Asian na ions wi hin he SDG amewo ks. Thei ind-
ings highligh con as ing ends: de eloped na ions exhibi consis en
p og ess in educing unemploymen h ough g ow h sus ainabili y,
whe eas de eloping na ions, led by Tü kiye, demons a e in e se pa -
e ns, wi h g ow h ailing o adequa ely add ess unemploymen chal-
lenges. Ano he s and o li e a u e, including s udies by Rabiu e al.
(2019); Sa o and Zenou (2015); Chen e al. (2023); and Cas ells-Quin-
ana and Royuela (2012) del es in o he in luence o popula ion g ow h
and u banisa ion on unemploymen . These analyses e eal ha while
popula ion g ow h exace ba es unemploymen , u banisa ion ends o
exe a mi iga ing in luence by os e ing job c ea ions h ough indus ial
and economic clus e ing. While li le is known, me ging ac o s such as
s a e agili y and economic complexi y, unde exis ing ins i u ional
amewo ks, may yield di e gen e ec s on employmen dynamics. To
explo e his dimension, he s udy p oposes he ollowing hypo heses:
H
3
: Economic complexi y exe s nega i e impac s on unemploymen .
H
4
: S a e agili y nega i ely in luences unemploymen .
2.4. Labou p oduc i i y
Labou p oduc i i y, a cen al pilla o SDG 8, is heo e ically
ancho ed in classical p oduc ion unc ion de eloped by Solow-Swan
(Solow, 1956) and ex ended by he endogenous g ow h model
(Rome , 1994), which emphasises he pi o al ole o inno a ion and
human capi al. Despi e his impo ance, his a ea has ecei ed
compa a i ely limi ed schola ly a en ion, wi h exis ing s udies la gely
ocusing on con en ional d i e s. Fo ins ance, Celik e al. (2024)
explo ed he ela ionship be ween u banisa ion and labou p oduc i i y
ac oss 6 A ican coun ies om 1991 o 2019, employing he CS-ARDL
model. Thei indings e eal a posi i e co ela ion and causal links be-
ween u banisa ion and labou p oduc i i y. Kuma and Kobe (2012)
expanded he analysis by examining u banisa ion, heal h, and educa ion
as de e minan s o labou p oduc i i y in a b oade panel o coun ies.
Thei esul s unde sco e he signi ican ly posi i e impac s o bo h heal h
and u baniza ion on labou p oduc i i y. Likewise, C¨
o e s (1997)
in es iga ed he ole o human capi al in labou p oduc i i y wi hin
manu ac u ing i ms ac oss 7 EU membe s a es. Using c oss-sec ional
analysis, hei indings indica e ha mode a e- and highly de eloped
human capi al posi i ely in luence labou p oduc i i y, whe eas low
le els o human capi al de elopmen yield in e se e ec s. Nowak and
Kijek (2016) p o ided u he e idence by explo ing Poland’s ag icul-
u al sec o , demons a ing ha a ms managed by highly educa ed
a me s achie e signi ican ly highe p oduc i i y le els, emphasising
he ole o human capi al in labou p oduc i i y. Fo eign di ec in es -
men (FDI) has also been iden i ied as a key d i e o labou
p oduc i i y. Boghean and S a e (2015) analysed i s e ec s on labou
p oduc i i y h ough g ow h and echnological ans e s in EU coun ies
be ween 2000 and 2012. Thei eg ession analysis highligh s ha
inc eased FDI, h ough skills and capi al ans e , signi ican ly boos s
labou p oduc i i y. Simila ly, Liu e al. (2001) examined FDI’s impac
ac oss Chinese indus ies om 1996 o 1997, e ealing ha FDI in he
o m o human capi al, capi al in ensi y, and o eign p esence in in-
dus ies subs an ially enhances labou p oduc i i y. Malick (2013)
analysed globalisa ion’s impac on labou p oduc i i y in OECD na ions
om 1990 o 2011 using panel eg ession models. Thei esul s
demons a e ha globalisa ion, p oxied by economic openness, exe s a
signi ican ly posi i e in luence on labou p oduc i i y, sugges ing ha
g ea e openness p omo es highe p oduc i i y. While hese s udies
p o ide aluable insigh s, he li e a u e emains spa se ega ding he
impac s o eme ging ac o s such as s a e agili y, economic complexi y,
and ins i u ional quali y on labou p oduc i i y. Add essing his issue,
he s udy p oposes he ollowing h ee hypo heses:
H
5
: S a e agili y nega i ely in luences labou p oduc i i y.
H
6
: Economic complexi y is posi i ely associa ed wi h labou
p oduc i i y.
H
7
: Ins i u ional quali y exe s a signi ican ly posi i e impac on la-
bou p oduc i i y.
2.5. En i onmen al in eg i y
The En i onmen al Kuzne s Cu e (EKC) hypo hesis, in oduced by
G ossman and K uege (1991), p o ides a heo e ical lens o analyse he
in e play be ween g ow h and en i onmen al sus ainabili y. Building on
his ounda ion, ecen empi ical s udies expanded he EKC na a i e by
inco po a ing addi ional p edic o s alongside economic ou pu o
examine his c i ical nexus. Fo ins ance, Suyan o e al. (2024) in es i-
ga ed he EKC hypo hesis wi hin G20 na ions (1995–2015), inco po-
a ing ins i u ional quali y, go e nmen expendi u es, and CO
2
emissions as key de e minan s. Thei indings alida ed he EKC hy-
po hesis and unde sco ed he pi o al ole o ins i u ional quali y in
signi ican ly cu bing emissions. Con e sely, Alakba o e al. (2024),
using panel da a spanning 1992 o 2014, con i med he EKC hypo hesis
bu obse ed ha he inclusion o ene gy consump ion complica ed he
na a i e, e ealing ha ene gy use does no in a iably exace ba e CO
2
emissions ac oss G20 g oup. In he same ein, Oz u k e al. (2023)
analysed he EKC hypo hesis om 1990 o 2020 using ade-adjus ed
ma e ial oo p in , en i onmen al go e nance, and g een inno a ions
wi hin G20 na ions. Thei quan ile eg ession esul s a i med he EKC
hypo hesis, highligh ing he signi ican con ibu ion o en i onmen al
echnologies in educing ma e ial oo p in s. In a ela ed s udy, Ma ’I
e al. (2023) examined inancial and iscal policy impac s on he EKC
amewo k in G20 panel (1995 o 2019) wi h CO
2
emissions as he
dependen a iable. Thei indings, de i ed om ARDL modelling,
con i med he EKC hypo hesis and emphasised he need o edi ec
inancial esou ces owa d clean ene gy ini ia i es. Likewise, Li e al.
(2022) explo ed he e ec o con en ional ene gy consump ion on he
CO
2
emissions-g ow h (1995 o 2018), using panel coin eg a ion
eg ession analysis. Thei esul s alida ed he EKC hypo hesis wi hin
G20 na ions. While hese s udies collec i ely p o ide insigh s in o he
EKC hypo hesis, hey la gely ely on con en ional p edic o s and ail o
in eg a e eme ging me ics o ede ine he EKC amewo k o G20 na-
ions. This s udy seeks o ill his gap by inco po a ing economic
complexi y and s a e agili y alongside ins i u ional quali y o examine
hei combined in luence on en i onmen al ou comes. Acco dingly, we
p opose he ollowing hypo heses:
H
7
: Bo h s a e agili y and economic complexi y signi ican ly in-
luence CO
2
emissions.
H
8
: The EKC hypo hesis holds alid unde hese eme ging ac o s
while accoun ing o ins i u ional amewo ks.
M.N. Azimi e al.
Resea ch in Globaliza ion 10 (2025) 100278
4
3. Da a, a iables, and sou ces
3.1. Da a
This s udy u ilises panel da a o he G20 na ions—(1) A gen ina, (2)
Aus alia, (3) B azil, (4) Canada, (5) China, (6) Eu opean Union (EU),
(7) F ance, (8) Ge many, (9) India, (10) Indonesia, (11) I aly, (12)
Japan, (13) Sou h Ko ea, (14) Mexico, (15) Russian Fede a ion, (16)
Saudi A abia, (17) Sou h A ica, (18) Tü kiye, (19) he Uni ed Kingdom,
and (20) he Uni ed S a es—co e ing he yea s om 2000 o 2023.
Focusing on his g oup is jus i ied by ou p ima y easons. Fi s , he G20
collec i ely accoun s o o e 80 % o global GDP, app oxima ely h ee-
qua e s o in e na ional ade, and o e 60 % o he global popula ion,
making i a signi ican p oxy o he global economy (OECD, 2025).
Second, hese na ions include bo h de eloped and eme ging economies,
allowing o insigh s in o a ied ins i u ional se ups, le els o de elop-
men , and in as uc u es (Azimi & Rahman, 2023). Thi d, hey play a
c i ical ole in coo dina ing in e na ional economic and en i onmen al
policies, add essing global challenges and ende ing solu ions pa icu-
la ly insigh ul o policymake s a ound he wo ld (Wang e al., 2024).
Fou h, he bloc o e s consis en and upda ed da ase s o di e se a -
iables used in he s udy, which makes he analysis obus and eliable.
To a oid da a duplica ion and uni o e lap, he s udy excludes indi-
idual coun ies included in EU, such as F ance, Ge many, and I aly,
when ea ing EU as a collec i e en i y. Consequen ly, he o al numbe
o uni s ounds o 44 (see Fig. 2), encompassing all en i ies ha
cons i u e he G20. This app oach ensu es he in eg i y and indepen-
dence o he da a used in he s udy.
3.2. Va iables
The a iables u ilised in his s udy a e ca e ully selec ed o align wi h
co e objec i es o SDG 8, ocusing on i s ou speci ic a ge s. Pe capi a
GDP (PCG, cons an 2015 US$), labou p oduc i i y (LP, a io)—de i ed
by di iding eal GDP in cons an 2015 US$ by hou s wo ked pe pe -
son—unemploymen a e (UR, annual %), and CO
2
emissions (CO
2
,
me ic onnes pe capi a) se e as he dependen a iables. These a i-
ables a e also used as explana o y p edic o s in speci ic model speci i-
ca ions o cap u e in ica e in e ela ions. To ensu e analy ical p ecision
and con ex ual ele ance, he explana o y a iables a e ca ego ised in o
dis inc dimensions. Mac oeconomic a iables include o eign di ec
in es men (FDI) as a pe cen age o GDP, which e lec s capi al in lows,
and ade openness, p oxied by he globalisa ion index (GLO), anging
om 0 and 1, indica ing he deg ee o in eg a ion wi h global ade and
in es men ne wo ks. The economic complexi y index (ECI) is also
inco po a ed o measu e he di e si y and sophis ica ion o expo
s uc u es. Posi i e alues deno e high complexi y, nega i e alues
e lec low complexi y, and ze o signi ies he absence o di e si ica ion.
Socioeconomic a iables include he s age agili y index (SFI), anging
om 0 (leas agile) o 1 (mos agile), and he human de elopmen
index (HDI), a composi e indica o o heal h, educa ion, and income
le els, also scaled be ween 0 and 1. The s udy u he in oduces a no el
ins i u ional quali y index (IQI), cons uc ed using a dis ance-based
sco ing me hod, which cap u es all dimensions o go e nance and
ange om 0 (low quali y) o 1 (high quali y). Ene gy and en i on-
men al a iables encompass p ima y ene gy consump ion (PE),
measu ed in e awa -hou s, cap u ing he o al ene gy usage, and
enewable ene gy (RE), ep esen ing he sha e o enewable sou ces in
o al ene gy consump ion. This analysis also in eg a es en i onmen al-
ela ed echnologies (ENT), measu ed as he pe cen age o g een ech-
nology pa en s o inno a ions, which signi y p og ess owa ds cleane
p oduc ion p ocesses and esou ces e iciency. These me ics a e i al
o unde s anding he ene gy ansi ion, echnological inno a ions, and
en i onmen al sus ainabili y wi hin G20 amewo k. Finally, he soci-
odemog aphic a iable, u banisa ion (URB), is calcula ed as he pe -
cen age o he o al popula ion esiding in u ban a eas. I e lec s u ban
de elopmen pa e ns and demog aphic dynamics, which a e c i ical in
shaping economic pe o mance and socie al ou comes.
3.3. Cons uc ion o IQI
To comp ehensi ely cap u e he in luence o all go e nance aspec s
on SDG 8 a ge s, he s udy cons uc s he ins i u ional quali y index
(IQI) using six key me ics om WGI: con ol o co up ion (CC), go -
e nmen e ec i eness (GE), poli ical s abili y (PS), he ule o law (RL),
egula o y quali y (RQ), and oice and accoun abili y (VA)—each
exp essed as pe cen ile anks om 0 o 100. The IQI is de eloped using
he inclusi e me hodology p oposed by Sa ma (2012), a obus ame-
wo k o cons uc ing a mul idimensional index ha o e se e al ad-
an ages o e con en ional echniques (Azimi e al., 2025). Unlike
me hods such as weigh ed a e ages and a i hme ic means, which end o
o e simpli y complex dimensions by assigning equal impo ance o all
indica o s, his app oach e ec i ely cap u es dispa i ies in ins i u ional
pe o mance bo h wi hin indi idual indica o s and ac oss he coun ies
(Azimi & Rahman, 2024). Mo eo e , compa ed o P incipal Componen
Analysis (PCA) and Fac o ial Analysis (FA)—which p ima ily ely on
s a is ical co ela ions and o en educe he complexi y o go e nance
dimensions o a ew dominan ac o s— his dis ance-based sco ing
me hod conside s he en i e ange o ins i u ional pe o mance. This
me hodology enhances sensi i i y by cap u ing bo h bes - and wo s -
case scena ios, o e ing a mo e nuanced e lec ion o ins i u ional
quali y. The e o e, i is pa icula ly e ec i e in moni o ing ins i u ional
con e gence and di e gence o e ime, an aspec ha PCA and FA a e
less equipped o add ess due o hei emphasis on s a ic ela ionships
(Azimi e al., 2023).
To cons uc IQI, we i s no malise each dimension in o a 0–1 scale,
whe e 0 e lec s he wo s and 1 ep esen s he bes ins i u ional quali y,
using he ollowing equa ion:
dcj =Xcj
100 (1)
whe e Xcj ep esen s he pe cen ile ank o coun y c in dimension
j— ha is, CC, GE, PS, RL, RQ, o VA. Nex , we posi ion each coun y c as
a poin in a 6-dimensional space (dcj1,dcj2,⋯,dcj6), whe e dcj ∈ [0,1]
deno es coun y c’s sco e on dimension j (Pa k & Me cado, 2015). The
ideal poin is (1,1,1,1,1,1), which signi ies he highes possible ins i-
u ional pe o mance ac oss all six me ics. Subsequen ly, we compu e
he dis ance om he ideal poin o each G20 na ion by applying he
Euclidean dis ance (Dcj)be ween he 6-dimensional space and he ideal
poin , as ollows:
Dc=
∑
6
j=1(1−dcj)2
√
√
√
√(2)
When a coun y sco e dcj =1 in all six dimensions, Dc=0. Con e sely, i
a coun y unde pe o ms in one o se e al go e nance dimensions, he
dis ance g ows la ge . To a i e a he IQI, we in e his dis ance in o a
0–1 scale:
IQIc=1−Dc
6
√(3)
whe e
6
√is he maximum dis ance be ween he ideal poin (1,1,1,1,
1,1)and he wo s poin (0,0,0,0,0,0), in a 6-dimensional space:
∑
6
j=1(1−0)2
√
√
√
√=
6
√(4)
He e, IQIc=1 co esponds o (dcj1,dcj2,⋯,dcj6)= (1,1,⋯,1), i.e., high
ins i u ional quali y in all dimensions, whe eas IQIc=0 co esponds o
(dcj1,dcj2,⋯,dcj6)= (0,0,⋯,0), i.e., poo ins i u ional quali y ac oss all
M.N. Azimi e al.
Resea ch in Globaliza ion 10 (2025) 100278
5
Fig. 2. Dependen a iables’ ends ac oss he G20 na ions. No e: A g. ep esen s a e age alues o he indica o s.
M.N. Azimi e al.
Resea ch in Globaliza ion 10 (2025) 100278
6
dimensions. This comp ehensi e app oach cap u es he g adual e olu-
ion o IQI o e ime in G20 na ions (Azimi e al., 2025).
3.4. Sou ces o compila ion
Da ase s on nominal GDP, he GDP de la o , pe capi a GDP, con ol
o co up ion, go e nmen e ec i eness, ule o law, poli ical s abili y,
egula o y quali y, oice and accoun abili y, u banisa ion, and FDI a e
ob ained om he Wo ld De elopmen Indica o s (WDI) da abase o he
Wo ld Bank G oup. CO
2
emissions da a a e sou ced om Ou Wo ld in
Da a, cu a ed by Ri chie and Rose (2020). HDI da a a e sou ced om
he Uni ed Na ions De elopmen P og ammes (UNDP) sou ces (UNDP
Human De elopmen Index, xxxx). Globalisa ion index se ies is d awn
om he KOF Swiss Economic Ins i u e, de eloped by Gygli e al. (xxxx).
The s a e agili y index da ase is e ie ed om he Fund o Peace
sou ces (). Finally, hou s wo ked pe pe son, en i onmen al- ela ed
echnologies, and he economic complexi y index da a a e acqui ed
om OECD esou ces ().
4. Speci ica ion and es ima ion p ocedu es
SDG 8 accen ua es “p omo ing inclusi e, sus ainable g ow h, ull and
p oduc i e employmen , and decen wo k o all.” This goal en ails
mul iple in e ela ed a ge s: os e ing highe le els o p oduc i i y ia
di e si ica ion and echnological ad ancemen (Ta ge 8.2), achie ing
ull and p oduc i e employmen (Ta ge 8.5), educing he p opo ion o
you h no in employmen o aining (Ta ge 8.6), and imp o ing
esou ce e iciency (Ta ge 8.4). In essence, SDG 8 cap u es bo h he
quan i a i e dimension o economic g ow h and employmen , as well as
he quali a i e aspec s o decen wo k, inclusi eness, and en i onmen al
esponsibili y. Gi en hese mul i ace ed a ge s, his s udy de elops ou
empi ical models ha comp ehensi ely e alua e hese dimensions.
4.1. Model I: Sus ainable g ow h
G ounded in he Neoclassical G ow h Theo y o Solow (1956), his
model emphasises labou , echnology, and capi al accumula ion as co e
de e minan s o economic ou pu . Building on his ounda ion, Rome
(1990) highligh s he ans o ma i e ole o ENT and ECI spillo e s in
os e ing sus ainable g ow h. Acco dingly, Model I in eg a es hese
ac o s o cap u e he sophis ica ion o p oduc ion s uc u es and he
adop ion o cleane , inno a i e p ocesses wi hin he g ow h ajec o y.
In addi ion o ENT and ECI, he model inco po a es key mac oeconomic
and sociodemog aphic a iables, including FDI, GLO, HDI, and URB,
which collec i ely con ibu e o shaping economic pe o mance. IQI and
SFI a e u he included o accoun o he egula o y, poli ical, and
s uc u al en i onmen s ha sus ain ma ke pe o mance, enhance
en ep eneu ial ac i i ies, and a ac in es men (Salman e al., 2019).
Mo eo e , his model conside s he c i ical ole o esou ce consump ion
and e iciency, measu ed by PE and RE. These a iables e lec G20
′
s
e o s o educe ecological impac and ansi ion o cleane sys ems,
aligning wi h sus ainable de elopmen impe a i es (Chen e al., 2019;
Magazzino, 2024). Gi en his con ex , Model-I can be exp essed as
ollows:
PCGi =β1+∑
9
j=1
θjXi +δi+
ε
i (5)
whe e PCG ep esen s he dependen a iable, βi ep esen s he in e -
cep , θi is he ec o o coe icien s o Xi which includes ENT, ECI, SFI,
IQI, HDI, FDI, GLO, PE and RE. δi cap u es he unobse ed coun y-
speci ic e ec s, and
ε
is he e o e m.
4.2. Model II: Labou p oduc i i y
Labou p oduc i i y, a co ne s one o economic pe o mance and a
c i ical a ge o SDG 8, is oo ed in he classical p oduc ion unc ion
(Cobb & Douglas, 1928), which assesses he e iciency wi h which inpu s
a e ans o med in o ou pu s. In his con ex , IQI and GLO eme ge as
pi o al ac o s. Robus IQI and high GLO mi iga e en -seeking beha -
iou and economic dis o ion, c ea ing an en i onmen conduci e o he
op imal alloca ion o labou esou ces (Adams-Kane & Lim, 2016).
Simul aneously, low SFI ensu es poli ical and economic s abili y, u he
enhancing p oduc i i y dynamics. The ole o ENT and HDI as syne ge ic
d i e s o p oduc i i y gains is well-documen ed in p io li e a u e
(Zilibo i e al., 1999). ENT os e s inno a ion and e iciency, while HDI
equips he wo k o ce wi h he skills and capaci ies equi ed o highe
p oduc i i y. ECI and FDI complemen hese ac o s by in oducing
manage ial bes p ac ices, enhancing echnological ans e s, and p o-
mo ing wo k o ce e iciency. URB also plays a signi ican ole by
enabling access o a mo e skilled and concen a ed labou pool, which
acili a es knowledge sha ing and inno a ion (Celik e al., 2024).
Addi ionally, he ansi ion om con en ional ene gy sou ces o
enewable ene gy (RE) di ec ly impac s labou p oduc i i y by educing
p oduc ion cos s and os e ing sus ainable indus ial p ac ices. This
unde sco es he g owing impo ance o ene gy e iciency in shaping
p oduc i i y ou comes. To encapsula e hese dynamics, Model II is
speci ied as ollows:
LPi =β2+∑
9
j=1
θjXi +δi+
ε
i (6)
whe e LP indica es labou p oduc i i y as he dependen a iable, β2 is
he in e cep o Model II, Xi includes IQI, GLO, SFI, ENT, HDI, FDI, ECI,
URB, and RE wi hin his amewo k. All o he no a ions main ain simila
meaning as we e explained in equa ion (5).
4.3. Model III: Employmen and decen wo k
Roo ed in he Keynesian labou ma ke pe spec i e (Keynes, 2018),
unemploymen is concep ualised as a esul o misma ches be ween la-
bou demand and supply, ma ke ic ions, and mac oeconomic luc u-
a ions. IQI eme ges as a pi o al ac o in enhancing labou ma ke
e iciency by en o cing con ac s, p o ec ing wo ke s, and os e ing
equi able employmen oppo uni ies. Con e sely, heigh ened SFI signals
ins abili y, de e ing in es men and s i ling job c ea ions. ECI p omo es
di e si ica ion in o high- alue indus ies, con ingen upon he a ail-
abili y o a skilled wo k o ce capable o mee ing ad anced p oduc ion
equi emen s. Simul aneously, ENT acili a es he c ea ion o g een jobs
in enewable ene gy, ci cula economy, and o he sus ainable sec o s.
FDI and GLO u he complemen hese dynamics by d i ing job c ea-
ions in expo -o ien ed sec o s (Pal & Villan henkoda h, 2024) and
os e ing c oss-bo de employmen oppo uni ies. HDI plays an ampli-
ying ole, enhancing he quali y o and inclusi eness o employmen
h ough imp o ed educa ion and heal hca e, aligning labou ma ke
demand wi h supply. Howe e , apid URB can exace ba e UR in
me opoli an a eas by s aining in as uc u e and misma ching labou
supply wi h local oppo uni ies (Pandey e al., 2024). Con e sely, he
adop ion p ocess o enewable sou ces, RE is expec ed o c ea e job
oppo uni ies wi hin sus ainable sec o s. To cap u e hese dynamics
wi hin he amewo k o SDG 8, Model III is o mula ed as ollows:
URi =β3+∑
9
j=1
θjXi +δi+
ε
i (7)
whe e UR ep esen s unemploymen as he dependen a iable, β3 is
eplaced wi h β2— he in e cep , o main ain dis inguished no a ions
ac oss models, and Xi includes IQI, SFI, ECI, ENT, FDI, GLO, HDI, URB,
and RE wi hin he amewo k o Model III. All o he no a ions ca y
same meaning as s a ed ea lie .
M.N. Azimi e al.
Resea ch in Globaliza ion 10 (2025) 100278
7
4.4. Model IV: En i onmen al impac
Balancing sus ainable economic g ow h wi h en i onmen al objec-
i es is a co ne s one o he SDGs. The EKC hypo hesis, p oposed by
G ossman and K uege (1991), o e s a heo e ical amewo k o un-
de s anding he non-linea ela ionship be ween economic g ow h and
en i onmen al deg ada ion. I posi s an in e ed U-shaped nexus be-
ween income and pollu ion, con ingen upon key ac o s. Robus IQI
and lowe SFI os e he en o cemen o s ingen en i onmen al
go e nance, ensu ing ha g ow h aligns wi h ecological sus ainabili y.
ECI suppo s he eo ien a ion o p oduc ion owa d ad anced, less
esou ce-in ensi e sec o s (Liu e al., 2019), while ENT acili a es he
decoupling o economic g ow h om emissions (Nkalu e al., 2020). FDI
and GLO may exhibi dualis ic impac s on emissions. In he absence o
obus IQI, hese ac o s may exace ba e pollu ion due o lax egula ions
( he “pollu ion ha en” hypo hesis) (Pa a & Cagla , 2021). Con e sely,
unde s ong IQI, hey can lead o he di usion o cleane echnologies,
os e ing a “pollu ion halo” e ec (Alshubi i & Elheddad, 2020). URB,
howe e , p esen s mixed implica ions. While e icien u ban planning
and in as uc u e can educe emissions h ough scale e iciency, poo ly
designed u banisa ion may escala e emissions due o o e c owding and
ine icien p oduc ion sys ems (Dogan & Tu kekul, 2016). EP is expec ed
o con ibu e posi i ely o emissions, e lec ing con inued eliance on
ossil uels (Na haniel, 2021), whe eas RE plays a coun e balancing ole
in mi iga ing emissions (Pa a, 2018). To examine he EKC hypo hesis in
he p esence o new me ics, we speci y he ollowing equa ion:
CO2,i =β4+λ1PCGi +λ2PCG2
i +∑
9
j=1
θjXi +δi+
ε
i (8)
whe e PCG
2
cap u es he quad a ic e m o income o accoun o he
non-linea EKC ela ionship, β4 is he in e cep o Model IV, λ1 and λ2 a e
he coe icien s o PCG and i s squa ed e m, θi is he ec o o co-
e icien s o o he explana o y a iables (Xi )such as IQI, SFI, ECI, FDI,
GLO, ENT, URB, PE, and RE. The meaning o o he ec o s emains
consis en wi h hose p e iously de ined. Collec i ely, hese ou models
cap u e mul iple aspec s o SDG 8—including g ow h, p oduc i i y,
employmen , and en i onmen al sus ainabili y—while d awing upon
app op ia e economic heo ies. This ounda ion no only jus i ies he
chosen speci ica ions bu also pa es he way o empi ical es ing in he
con ex o G20, whe e ins i u ional and socioeconomic he e ogenei ies
make hese in e ac ions insigh ul o policymake s.
4.5. Es ima ion p ocedu es
P io li e a u e highligh s se e al c i ical empi ical challenges in
analysing he ela ionships among p edic o s o sus ainable de elop-
men . Among he mos pe asi e issues a e c oss-sec ional dependence
(SCD), slope he e ogenei y (SLH), and he e oskedas ici y in esiduals
(Udeagha & Ngepah, 2023). Addi ionally, in ce ain con ex s, co-
e icien s bias a ising om sample dis o ion u he complica es
empi ical analysis. The p esence o CSD, as well-documen ed in p io
s udies (Gue e o, 2006), is pa icula ly p oblema ic, unde mining he
eliabili y o con en ional es ima ion echniques. While Fixed-e ec s
(FE) and andom-e ec s (RE) app oaches emain widely used, hey a e
no de oid o signi ican limi a ions. The FE model, o ins ance, sim-
pli ies he e ogenei y by assuming homogenei y ac oss uni s and
emo ing ime- a ian e ec s, which inadequa ely add esses dynamics
in he p esence o SLH (Phillips & Sul, 2007). On he o he hand, he RE
me hod elies on s ingen assump ions ega ding he independence o
indi idual-speci ic e ec s, o en p oducing biased es ima es unde he
ejec ion o homoskedas ici y.
Al hough ad anced panel es ima o s such as Fully Modi ied O dina y
Leas Squa es (FMOLS), Dynamic O dina y Leas Squa es (DOLS),
Au o eg essi e Dis ibu ed Lags (ARDL), and he Gene alised Me hod o
Momen (GMM) o e al e na i e app oaches, he selec ion o an
app op ia e me hod emain c i ical. Fo ins ance, while panel ARDL
becomes ine icien unde he ejec ion o he null hypo hesis o no CSD,
GMM es ima o s ails o adequa ely accoun o CSD. Gi en he empi -
ical con i ma ion o bo h CSD and SLH wi hin ou da ase , s anda d FE
and RE, alongside o he con en ional es ima ion echniques, ail o
p oduce consis en and eliable coe icien s (Huang e al., 2019). To
add ess hese limi a ions, his s udy adop s he C oss-Sec ionally
Augmen ed ARDL (CS-ARDL) model, de eloped by Chudik e al.
(2016). The CS-ARDL model explici ly accoun s o CSD by inco po-
a ing CS a e ages o bo h he dependen and explana o y a iables.
This me hod no only ensu es obus coe icien es ima ion bu also
enables he simul aneous e alua ion o sho - and long- un coe icien s,
p o iding nuanced insigh s in o he p og ess o SDG 8 a ge s. The
gene al o m o he CS-ARDL model used in his s udy is speci ied as
ollows:
yi =φiyi −1+∑
p
j=1
λijXi −j+γiy ∑
K
k=0
ζikX k +ξi+
ε
i (9)
whe e yi ep esen s he dependen a iables in he espec i e models
(PCG, LP, UR, and CO
2
), while Xi deno es he ec o o explana o y
a iables (IQI, SFI, ECI, ENT, HDI, FDI, URB, and GLO). The model in-
cludes coe icien s o he lagged dependen a iable (φi) and he
explana o y a iables (λi), alongside coe icien s o he c oss-sec ional
a e ages o he dependen a iable (y)and explana o y a iables (X),
deno ed by γi and ζik, espec i ely. These c oss-sec ional a e ages
e ec i ely accoun o CSD. Coun y-speci ic e ec s (ξik)and idiosyn-
c a ic e o e ms (
ε
i )a e also inco po a ed o cap u e unobse ed
he e ogenei y and s ochas ic a ia ions. As a obus ness check, he s udy
employs he Dynamic Common Co ela ed E ec s Mean G oup
(DCCEMG) model, an ad anced ex ension o he CCEMG amewo k
p oposed by Pesa an and Smi h (1995) o MG, Pesa an (2006) o CCE,
and Chudik and Pesa an (2015) o DCCE. The DCCEMG model in-
co po a es lagged yi −k, enabling i o cap u e he dynamic ela ionships
be ween he dependen and explana o y a iables in he p esence o CSD
and SLH. Al hough his me hod does no o e sho - un e ec s, i s long
un es ima o s a e compu ed as βlong− un,iβi/(1−φi), whe e φi deno es he
deg ee o yi pe sis ence. The DCCEMG me hod e ec i ely accoun s o
he dynamic na u e o he a iables, emains obus o CSD h ough he
inclusion o CS a e ages, and accommoda es he e ogenei y by allowing
coe icien s o a y ac oss uni s. All s a is ical analyses a e conduc ed
using STATA/BE-18 so wa e, while g aphical ep esen a ions a e
gene a ed using he ad anced isualisa ion ools o Tableau and O i-
ginLab-2024.
Table 1
Summa y s a is ics.
Va iables Mean S anda d De ia ion Minimum Maximum
PCG 29433.940 22906.564 756.704 112417.88
LP 0.823 1.671 0.001 10.384
UR 7.814 4.497 1.805 28.838
CO
2
6.854 4.847 0.058 26.003
IQI 0.878 0.205 0.000 1.000
SFI 43.643 19.132 12.700 89.200
ECI 0.993 0.748 −1.110 2.820
PE 2697.830 6055.95 18.510 47427.56
RE 14.083 14.169 0.000 72.329
ENT 8.321 5.66 0.620 53.850
HDI 0.835 0.109 0.291 0.967
FDI 9.306 40.206 −360.353 452.221
URB 73.008 15.239 21.637 98.153
GLO 76.936 9.666 43.582 91.141
M.N. Azimi e al.
Resea ch in Globaliza ion 10 (2025) 100278
8
pe sis en en i onmen al bu den ied o con empo a y economic
g ow h, labou p oduc i i y, and CO
2
emissions. Ou indings alida e
he En i onmen al Kuzne s Cu e (EKC) hypo hesis, sugges ing a
e ised u ning poin in luenced by new ac o s. Only a e his in lec-
ion poin ($55,972), conside ing hese speci ic ac o s, can he en i-
onmen al impac s o sus ainable g ow h begin o decline, se ing he
s age o he policy implica ions discussed in he subsequen sub-sec ion.
7.1. Policy implica ions
Ou indings p o ide se e al c i ical policy implica ions o he G20
na ions, hough we only ocus on he implica ions o he eme ging
me ics alongside he e ised EKC dynamics, which a e c ucial o im-
media e a en ion. Fi s ly, s eng hening ins i u ional quali y eme ges as
i al o os e ing inclusi e and sus ainable economic g ow h. Policies
mus p io i ise e ec i e go e nance e o ms, emphasising egula o y
quali y, poli ical s abili y, comp ehensi e an i-co up ion measu es, and
an inclusi e ule o law, which can enhance economic esilience, labou
p oduc i i y, and en i onmen al managemen . Secondly, economic
complexi y highligh s he need o u he indus ial di e si ica ion in o
knowledge-in ensi e and high- alue sec o s. This can be achie ed
h ough a ge ed in es men s in esea ch and de elopmen , ade pol-
icies on high- alue goods and se ices, and skill de elopmen ini ia i es
o align he wo k o ce wi h he demands o complex indus ies. Thi dly,
add essing exis ing s a e agili y equi es s abilising poli ical sys ems,
enhancing social sa e y ne s, and incen i ising capi al in es men s in
agile coun ies o b eak he eedback loops. Thi d, he alida ion o he
e ised EKC hypo hesis sugges s ha achie ing i s u ning poin neces-
si a es s a egic in e en ions, including accele a ed adop ion o g een
and eco- iendly echnologies, in eg a ion o clima e goals wi h exis ing
economic policies, and he p omo ion o esou ce-e icien p ac ices in a
wide manne .
7.2. S udy’s limi a ions
This s udy like all o he empi ical esea ch, aces wo no able limi-
a ions. Fi s , while ad anced econome ic me hods such CS-ARDL and
DCCEMG a e applied o cap u e empi ical challenges such as c oss-
sec ional dependence and he e ogenei y o he employed panel, he
analysis did no accoun coun y-speci ic p og ess owa ds SDG 8 a -
ge s. i does no conduc a de ailed coun y-speci ic analysis due o space
and scope limi a ions. Fu u e esea ch could bene i om ocusing on
indi idual G20 na ions o unco e coun y-speci ic dynamics and p o-
ide mo e a ge ed policy ecommenda ions. Such an app oach would
allow o a deepe unde s anding o egional dispa i ies in SDG 8
p og ess and enable he o mula ion o mo e ailo ed in e en ions.
Second, al hough he s udy inco po a ed new me ics o examine hei
impac s on 4 ou o 12 SDG 8 a ge s, i only p oposed a di ec e ec
amewo k. Fu u e s udies may enhance his unde s anding by explo ing
he indi ec and mode a ed e ec s o hese p edic o s on hese speci ic
SDG 8 a ge s and include mo e a ge s.
CRediT au ho ship con ibu ion s a emen
Mohammad Naim Azimi: W i ing – o iginal d a , So wa e,
Me hodology, In es iga ion, Fo mal analysis, Da a cu a ion. Moham-
mad Ma izu Rahman: W i ing – e iew & edi ing, Valida ion, Supe -
ision, In es iga ion, Concep ualiza ion. Tek Ma aseni: W i ing –
e iew & edi ing, Valida ion, Supe ision, Concep ualiza ion.
Decla a ion o compe ing in e es
The au ho s decla e ha hey ha e no known compe ing inancial
in e es s o pe sonal ela ionships ha could ha e appea ed o in luence
he wo k epo ed in his pape .
Funding
This esea ch did no ecei e any unds om any o ganisa ion.
E hical app o al
This s udy does no con ain any s udies wi h human pa icipa ion o
animals pe o med by any o he au ho s.
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