Analyzing Climate Vulnerability and Financial Development Through the Lens of Global Uncertainty
DOI:
https://doi.org/10.63468/Keywords:
environmental risks, climate vulnerability, ARDL model, sustainable developmentAbstract
Climate change has intensified environmental risks, disproportionately affecting developing countries due to limited resources and weaker infrastructure. This study examines the impact of global uncertainty on climate vulnerability and financial development in Asian developing and developed economies, controlling for GDP, inflation, population, and labor force participation. Using panel data from 1995 to 2023 and applying an ARDL model, the study analyzes both short- and long-run relationships. The findings indicate that global uncertainty has a significant long-run effect on climate vulnerability and financial development in developing countries, which exhibit lower resilience to shocks compared to developed nations. The study provides policy insights to support sustainable development, particularly in achieving SDG 3 (Good Health and Well-Being) and SDG 8 (Decent Work and Economic Growth).
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Copyright (c) 2026 Dr. Kamran Ali Abbasi, Dr Asma Zeeshan, Dr. Salma Khalid
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