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This study has incorporated competitiveness by considering it a significant factor behind determining as well as moderating industrial value added in the environmental Kuznets curve (EKC) framework. This study aims to explore the moderating role of competitiveness policy in EKC with an aim to promote business led sustainability at national level.

Considering the environmental deterioration aspect of industrialization, this study tests the existence of EKC for SAARC countries using the data from 1996 to 2021 using second-generation static panel data model.

Estimated results have validated that moderating effect is responsible for improving environmental sustainability in SAARC countries. Furthermore, population density is responsible for increasing while trade openness is responsible for decreasing carbon emissions.

Higher industrial activities are a symbol of upward-moving economic growth. But its other impact is in the form of environmental deterioration. However, the relationship between industrialization and environmental quality can be identified through EKC.

This study aims to test the role of infrastructure for economic growth. For this purpose, panel data of the world is selected from 1998 to 2018 and the study has used slope moderator to test the productivity of real economic activity with economic growth.

In this context, the feasible generalized least square method is adopted to estimate the results. Four types of infrastructure indicators i.e. quality of air, port, rail and road are used along with disaggregated GDP.

According to the results of this study, the role of industrial and agricultural value addition without infrastructure is negative. For industrial value addition, the cross product with all infrastructure types positively impacts economic growth. All the infrastructures, along with services value addition, except seaport, are contributing to economic growth positively. Along with agriculture value addition, only road infrastructure is contributing to economic growth positively. This study has also used two control variables i.e. quality of education and institutions. These variables are also found to be positive and significant with economic growth.

This study explores the moderating role of quality of infrastructure sector on real sector productivity, which is leading to economic growth.

Social development is the ultimate goal of every nation, and climate change is a major stumbling block. Climate Risk Index has documented several climate change events with their devastations in terms of lives lost and economic cost. This study aims to link the climate change and renewable energy with the social progress of extreme climate affected countries.

This research used the top 50 most climate-affected countries of the decade and estimated the impact of climate risk on social progress with moderation effects of renewable energy and technology. Several competing panel data models such as quantile regression, bootstrap quantile regression and feasible generalized least square are used to generate robust estimates.

The results confirm that climate hazards obstruct socioeconomic progress, but renewable energy and technology can help to mitigate the repercussion. Moreover, improved institutions enhance the social progress of nations.

Government should improve the institutional quality that enhances their performance in terms of Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law and Control of Corruption to increase social progress. In addition, society should use renewable energy instead of fossil fuels to avoid environmental degradation and health hazards. Innovation and technology also play an important role in social progress and living standards, so there should be free hand to private business research and development, encouraging research institutes and universities to come forward for innovation and research.

The ultimate goal of all human struggle is to have progress that facilitates human beings to uplift their living standard. One of the best measures that can tell us about a nation’s progress is Social Progress Index (SPI), and one of many factors that can abruptly change it is the climate; so this study is an attempt to link the relationship among these variables and also discuss the situation where the impact of climate can be reduced.

Although social progress is an important concept of today’s economics discussion, relatively few studies are using the SPI to measure social well-being. Similarly, there is consensus about the impact of climate on people, government and crops but relatively less study about its overall impact on social progress, so this study attempts to fill the gap about the relationship between social progress and climate change.

The main contribution of this study is the solution for the impact of climate risk. Climate risk is not in human control, and we cannot eliminate it, but we can reduce the negative impacts of climate change. Moderator impact of renewable energy decreases the negative impact of climate change, so there is a need to use more renewable energy to mitigate the bad consequences of climate on social progress. Another moderator is technology; using technology will also mitigate the negative consequences of the climate, so there is a need to facilitate technological advancement.

Money laundering is an activity where illegal proceeds are hidden. This often leads to a reduction in government revenue and loss of government control of public funds. This study aims to identify the important sources of growing demand for money laundering in developing countries. Further, it identifies the factors that reduce the impact of sources of demand for money laundering.

This study used the panel approach of feasible generalized least square to investigate the growing demand for money laundering in 62 developing countries and provides a moderation-based solution for managing the demand factors.

The empirical results of this study indicate that there are two sources that increase the demand for money laundering in developing countries. This includes a high tax rate on profit linked with private firms and businesses and diversion of public funds related to government officials and politicians. The results indicate that profit tax and diversion of funds increase the demand for money laundering. The profit tax-based money laundering can be moderated by the quality of the education system and the diversion of public funds and money laundering can be moderated using bureaucracy quality.

This is one of the first studies to empirically estimate the impact of two important sources (i.e. diversion of public funds by government officials and politicians and a high tax rate) that create demand for money laundering in developing countries. The findings help developing countries’ governments formulate policies and curb the growing demand for money laundering.

Money laundering (ML) is the process used to convert the proceeds of crimes into lawful form. This global problem promotes social ills, corruption and organized crimes. Various instruments are used to counter individual illicit behavior. However, in low-income countries, these regulations are not common because of weak institutions, poor governance and a lack of awareness about the negative consequences of ML. In these countries, multinational corporations take advantage of poor law and order, lower environmental regulations and corruption and shift their domestic operations into foreign countries.

This study uses a multiple mediator model to investigate the link between foreign direct investment (FDI), environmental degradation measured as CO₂ emissions (CE), exports and ML for 118 countries between 2008 to 2018.

Results indicate that FDI promotes exports and CE, leading to illicit financial flows.

Policymakers should enforce checks on foreign funds flow and adopt illicit flow mitigation measures to minimize ML globally.

This study aims to develop and estimate the Musharaka demand and supply model for full-fledged Islamic banks to explore patterns and stability of Musharaka equilibrium in the market.

This quantitative study uses a deductive approach to explore financial statement-level data of 30 Islamic banks of six countries between 2012 and 2017.

The results show that the Musharaka market is stable when Musharaka demand is purchase price elastic and supply is sale price inelastic. It indicates that the current banking industry is unable to increase supply when there is an increase in Musharaka returns. In comparison, industry demand for Musharaka is increasing at a higher rate, corresponding to a decrease in Musharaka price.

This study is fundamental in estimating the market stable market returns and market quantity of Musharaka financing. If market returns and quantity deviate, market forces will push it to equilibrium.

The theoretical and empirical studies worked on the application and suitability of Musharaka financing. However, they failed to explain demand and supply forces in determining the level of Musharaka financing in the economy using empirical data. Without an equilibrium model, policymakers would be unable to predict the movement of the Islamic stock market index (the price of Musharaka financing) and the incidence of Musharaka financing. Further, it is not possible to apply expansionary intervention by policymakers if the stability of the market is unknown.

In the past few years, the concept of competitiveness developed by the World Economic Forum has become the focal point. Global competitiveness index (GCI) presents the constructs which are possible means of productivity of the country. The purpose of this study is to explore whether boosting the productivity of agriculture, services and industry sector is the possible channel of competitiveness leading to growth.

For this, panel GMM moderator model has been used for 16 low-income countries.

The results indicate that competitiveness helps agriculture and industry sector to become more growth productive, while it reduces the productivity of services sector.

This study urges that the gains from following the competition promotion policies overweigh the costs. Hence, low-income countries can break the low productivity trap.

Pakistan is facing the momentous hazard of money laundering and a substantial risk of terror financing, which are seriously threatening its socioeconomic well-being. The purpose of this paper is to gauge the challenges posed by these threats in contrast with the existing potential and expertise of legal entities. It also examines legal and procedural measures enforced as a counter-strategy for terror financing and money laundering and the AMLA 2010 and National Action Plan (NAP) for countering terrorism financing.

This paper uses an analytical and comparative method using figures and comparative data on the success of the NAP and AMLA 2010 as national counterterrorism strategies. Terror financing and anti-money laundering regimes are confronted with grave legal and procedural odds, noncooperation and performance issues and conflicts of interest on the part of the enforcers/politicians. This paper highlights the issues that seriously jeopardize strategies to stop money laundering and terror financing, such as geography, informal financial transfers and exchange systems, un-regulated charities and real estate sectors, the modest performance of enforcement agencies and lukewarm political support for the NAP.

The situation requires the improvement of weak legislation and poor coordination and the adaptation of technological advancements and novel counter-strategies, along with properly trained enforcement personnel.

This paper will prove to be a valuable reference for exploring the shortcomings and insights. This will provide useful information for legal and financial practitioners, academicians, research scholars, policymakers and journalists.

The Financial Action Task Force defines money laundering as “processing of these criminal proceeds to disguise their illegal origin”. This is the major portion of financial crime that has ties across borders and like all financial crimes which are well planned and camouflaged, this crime is difficult to detect and deter. Over the years, on one side, globalization has provided development opportunities, it has also become one reason for the pervasiveness of money laundering. This has led to a disturbance in the global financial system and social unrest as proceeds from money laundering are being used in terrorism. The purpose of this study is to explore the non linear effect of globalization on financial crime in the form of money laundering.

An investigation based on 119 developing countries from the time period of 1985 till 2015 is conducted in this study. The panel quantile regression model was used to estimate antecedents of money laundering.

The study confirmed that globalization follows an inverted U-shaped relationship with money laundering. Furthermore, indicators such as investment portfolio and socioeconomic conditions have a significant effect on money laundering.

The panel quantile regression model was used to estimate antecedents of money laundering.

The ailing agriculture sector in Pakistan demands a supportive financial sector. The low adoption of Salam financing by Islamic banks does not match the potential demand. Empirical studies identified demand-led issues that led to a low proportion of Salam financing, but the exploration of supply-side constraints is overlooked.

This study has applied Interpretive Phenomenological Analyses on 20 interviews with the experts in the Islamic banking industry who play a role in decisions on Salam financing to the agriculture sector. The purpose of the study is to explore the determinants of low adoption of Salam financing by Islamic banks.

The experiences led to the major reasons for the low adoption of Salam financing categorized as intentions, attitudes and behavior control which corresponds to the theory of planned behavior.

This study is instrumental in exploring the supply-side constraints to Salam financing and helps find aligning theory to intervene via Islamic banking regulations.