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The main purpose of this study is to explore the dynamic association between financial development, tourism, primary and renewable energy utilization, urbanization, and carbon emission by employing the longitudinal data of 52 countries from 1995 to 2017. Empirical results of panel pooled mean group-autoregressive distributive lag (PMG-ARDL) model reveal that financial development significantly improves the environmental quality in developed countries. However, it has a detrimental but insignificant effect on the environment in developing countries. In the case of developed countries, the profound tourism sector is more harmful to the environment due to a large number of tourist arrivals in contrast to the developing countries. There is a wide difference between developed and developing countries concerning industrial, regional, and economic structure, in the effect of financial and tourism development on carbon emission, but both urbanization and primary energy utilization promote carbon emissions. The utilization of renewable energy sources improves the environmental quality in both regions. Generally, it is suggested that investment in renewable energy resources in both regions affects pollution differently and still has the potential to accelerate environmental quality. Moreover, the panel causality test explores that there exists bidirectional causality between financial development, primary energy, and carbon emission in both regions, while a unidirectional causality is observed from urbanization to carbon emission in developed countries. In developing countries, it exists from tourism to carbon emission and carbon emission to renewable energy. Finally, from policy perspectives, the results of this research recommend developing the financial system, and more funds should be allocated in modern and eco-friendly energy projects and utilized energy-efficient technologies.

The aim of this study is to analyze the impact of trade openness and human capital on economic growth in 19 Asian countries from 1985 to 2017. We selected two geographically distributed regions (Western and Southern Asia) based on difference in their GDP per capita. We applied the unit root tests to examine the level of stationarity and found that all variables were integrated at first difference. Kao and Fisher cointegration tests were employed and the results revealed the presence of a long-run relationship. We applied fully modified ordinary least square (FMOLS) and dynamic ordinary least square (DOLS) models to check the magnitude of the long-run coefficients among trade openness, human capital and economic growth. To investigate the direction of causality, we used a Dumitrescu and Hurlin (DH) causality test. The results indicated that trade openness and human capital have a significant and positive relationship while labor force participation has a negative effect on economic growth in Southern Asia, and in the case of Western Asia, the impact is positive. Foreign direct investment (FDI) has a negative and significant impact on GDP per capita (GDPPC) in Western Asia while it is positive and significant in Southern Asia; Total population (TPOP) has a negative impact on GDPPC in both regions. Furthermore, human capital has a positive and significant impact on trade openness in both panels. Meanwhile, labor force participation (LFP) has a positive and significant impact on trade openness in Southern Asia and a negative impact in the case of Western Asia. Trade openness and economic growth have bidirectional causality in Western Asia and unidirectional causality in Southern Asia. It also shows that human capital and economic growth have unidirectional causality in both regions.

Governments and policymakers are increasingly concerned about climate change. To cope with this inevitable issue, the SDGs-13 target underscores the importance of developing adaptation measures that reduce its adverse effects and ultimately safeguard both society and the environment. This issue is critical in developing countries, which are unable to counter climate-related risks because they lack adaptive capacity, suitable infrastructure, technology and, most importantly, human and physical capital. By contrast, resource-endowed developed countries have succeeded in integrating adaptative and protective policies into their developmental agenda using human power, technology, and especially investment. Keeping these facts in mind, this study is framed to examine the nexus between climate change, adaptation measures, and economic development across different income groups (lower-middle, upper-middle, and high income), using the Driscoll–Kraay (D/K) standard errors method for panel data from the period of 1995 to 2020. This study incorporates two indices (i.e., adaptive capacity and adaptation readiness) in the adaptation framework. The results demonstrate that developed countries such as Australia, Austria, Belgium, Canada, Denmark, France, Germany, Ireland, New Zealand, Sweden, Switzerland, the USA, and the UK are highly adaptive countries due to their readiness for adaptation. Developing countries with very low levels of readiness have a lower adaptive capacity and are, therefore, more vulnerable to climate change. Additionally, a non-causality test demonstrates that a one-way causality runs from readiness, ecological footprint, GDP, renewable energy, FDI, and natural resource investment to the adaptive capacity in all panels. The developed countries are less vulnerable to climate change because of their well-established economies, rich capital resources, good governance, and timely and effective readiness strategies. Adaptation readiness is a vital tool in capacity building for societal adaptation to minimize the effects of disasters on the living standard of communities.

A road traffic accident is a burning issue because the cost of road accidents is about 2% of gross domestic product in Pakistan. This paper explores the relationship between health force density index, temperature, rainfall, road lengths, and road traffic fatalities in Pakistan from 1985 to 2016. The stationarity was determined with the help of four-unit root tests. The existence of long-run cointegration was determined by using the autoregressive distributing lag bound test. The vector error correction model showed the long-run causality of road traffic fatalities, which implies that road traffic fatalities were affected by selected variables in the long-run. The short-run unidirectional causality was running from road traffic fatalities to health force density index; temperature to health force density index; rainfall to health force density index; health force density index to rainfall; road traffic fatalities to high type road length; health force density index to high type road length; and temperature to high type roads. The reduction in road fatalities was 1.713% due to a 1% increase in health force density. But, road fatalities increase by 3.628% due to a 1% increase in temperature. The road fatalities increase by 0.255% and 0.485% due to a 1% increase in rainfall and high type road length, respectively. The governments should increase the number of doctors and nurses for the life-saving of an injured person. Due to the adverse impact of temperature on road safety, the government should formulate a comprehensive environmental policy in order to mitigate global warming. It is recommended to increase the forest area to reduce the level of emission. It is required to modify the system of transportation according to the guidelines of international transportation associations with respect to the quality and maintenance of vehicles, medical check-up of drivers, and construction of roads. Installation of speed cameras is also needed on high type roads to ensure road safety. It is also recommended to increase traffic law enforcement. It is difficult for the Pakistani government to effectively execute road safety plans due to the limitation of resources. However, the government should invest the revenue collected through tax violation fine for the improvement in road safety. It is also needed to invest in the health sector and up-gradation of the hospitals for the safety of human beings. The government should ensure the availability of the latest medical technology in the hospitals and the improvement of emergency services. It is required to develop coordination between various ministries such as transportation, planning, law, education, public health, and information. It is necessary to make the public aware of the social and economic cost of road accidents using electronic, print, and social media. Graphical abstract

This study explored the long-run association among greenhouse gases (GHGs), financial development, forest area, improved sanitation, renewable energy, urbanization, and trade in 24 lower middle-income countries from Asia, Europe, Africa, and America (South and North) by using panel data from 1990 to 2015. Granger causality was tested by Toda and Yamamoto approach. The bi-directional causality was established among urbanization and GHGs (Asia), financial development and forest (Asia), energy use and renewable energy (Asia), renewable energy and forest (Asia), improved sanitation and forest (Asia, Africa, America), urbanization and forest (Asia), and improved sanitation and financial development (Europe). The GHG emission also shows one-way causality is running from financial development to GHG (America), energy to GHG (Asia), renewable energy to GHG (America), forest area to GHG (America), trade openness to GHG (Africa), urbanization to GHG (Europe), GHG to financial development (Europe), GHG to energy use (Europe, Africa, and America), and GHG to trade openness (Asia). On the basis of fully modified ordinary least square and generalized method of moment, the reciprocal relationship of GHGs was observed due to financial development in Asia and Africa; renewable energy in all panels; forest area in Asia, Europe, and America; improved sanitation in Asia, Africa, and America; trade openness in Africa; and urbanization in Europe and America. Policymakers should concentrate on these variables for the reduction in GHGs. The annual convergence towards long-run equilibrium was 50.5, 31.9, and 20.9% for America, Asia, and Africa, respectively.

Road traffic accidents (RTAs) are accountable for 1.2 million deaths and road safety is the part of sustainable development goals, which aims to provide a safe, accessible, affordable, and sustainable transport system by 2030. This study discovered the nexus of road traffic fatalities (RTFs) with its determinants in Asia, Europe, and America. Vector error correction model established the causality of RTFs (Asia, Europe), urbanization (Asia), physicians (Asia, Europe), traffic law enforcement index (Europe, America), vehicles (America), and paved roads (America). Short-run bidirectional causality of RTFs was established with educational expenditures (Asia, Europe), GNI (Europe), and urbanization (Europe). The fall in RTFs was 0.359% (Europe) and 0.957% (America) for 1% rise in GNI. The RTFs were decreased by 0.498% (Europe) and 0.390% (America) due to 1% rise in urbanization. Education shows 0.952% reduction in RTFs in Europe. The 1% increase in the number of physicians causes 0.793% reduction in RTFs in America. The RTFs were increased by 0.617% and 1.705% for 1% rise in the number of vehicles in Asia and America. The fall in RTFs was 3.604%, 0.134%, and 0.950% for 1% rise in paved roads in Asia, Europe, and America, respectively. Results show a reduction of 0.744% (Asia), 0.712% (Europe), and 0.312% (America) in RTFs due to 1% increase in traffic law enforcement index. The governments of all countries should expand and improve their paved road network and increase the enforcement of traffic laws. The government should make strict traffic laws like regular inspection of vehicles, strict inspection for the driving license, electronic challan, and medical fitness of drivers. The government should ensure the medical checkup of drivers at subsidized rates. It is useful to include the traffic rules in the educational syllabus due to the significant role of law enforcement in road safety. The government should use different media channels for the awareness of the public about loss due to road accidents.

The road traffic accidents were responsible for material and human loss which was equal to 2.8 to 5% of gross national product (GNP). However, literature does not explore the elasticity coefficients and nexus of road traffic fatalities with foreign direct investment, health expenditures, trade openness, mobile subscriptions, the number of researchers in R&D department, and environmental particulate matter. This study filled this research gap by exploring the nexus between road traffic fatalities, foreign direct investment, health expenditures, trade openness, mobile subscriptions, the number of researchers, and environmental particulate matter in Organization for Economic Cooperation and Development (OECD) countries by using panel data from 1995 to 2015. The panel Autoregressive Distributed Lag (ARDL) bound test was used for the detection of cointegration between the variables after checking the stationarity in selected variables with different panel unit root tests. Panel vector error correction model explored the causality of road traffic fatalities, foreign direct investment, PM2.5 in the environment, and trade openness in the long run. Road traffic fatalities showed short run bi-directional causality with foreign direct investment and health expenditures. The short run bi-directional causality was also observed between trade and foreign direct investment and cellular mobile subscriptions and foreign direct investment. The panel fully modified ordinary least square (FMOLS) and panel dynamic ordinary least square (DOLS) showed the 0.947% reduction in road fatalities for 1% increase in the health expenditures in OECD countries. The significant reduction in road fatalities was also observed due to 1% increase in trade openness and researchers in R&D, which implies the importance of trade and research for road safety. It is required to invest in the health sector for the safety of precious human lives like the hospitals with latest medical equipment and improvement in the emergency services in the country. The research and development activities should be enhanced especially for the health and transportation sectors. The trade of environment-friendly technology should be promoted for the protection of environment.

Purpose The purpose of this paper is to enhance the longevity and improve the succession process in small family businesses sustaining in Pakistan. Family businesses perform an active role in economic development of any country. Statistics shows, 30/13/3 business transfers into subsequent generation in the interfamily business (Ward, 2016). Design/methodology/approach Data are collected from 365 respondents who were either incumbents or successor in 135 small family businesses in Pakistan. Simple linear regression and process control analysis by Andrew Hayes are used for moderating variable analysis in SPSS20. Findings The results show that customer focus management, business strategies and governance board have a significant positive impact on the succession process of small family business in Pakistan. There is negative significant moderating impact of education on business strategies and customer focus management while there is no moderating impact of education over governance board and satisfaction with succession. Research limitations/implications This study will help the family business incumbents to focus deliberately on the factors that influence the succession process so that business could be transferred to the subsequent generation successfully. Originality/value The previous research does not show the effect of education at different levels and importance of customer focus management toward the succession process.

The main purpose is to check the impact of social capital on households’ objective well-being in the context of a developing country like Pakistan. The primary data is collected from 250 households of eight towns in district Faisalabad, the third-largest most populous city of Pakistan. Ordered probit models are used for analysis. The results show that objective well-being is positively and significantly affected by social capital except for social participation and neighborhood cohesion. For subjective well-being, life satisfaction and well-being are positively and significantly associated with all dimensions of social capital except the perception of trust and safety, and education. In the case of self-perceived health, civic participation, voting behavior, and collecting actions (CVC), reciprocity and social support are insignificant. Our results may help in devising social policies related to improvement in life quality and well-being of people. It gives insight into the role of social capital for the reduction of poverty, ameliorating individuals’ health status and the well-being of the people. It is suggested that society’s well-being may be achieved with higher social capital. The government may devise strategies to increase social capital for improving the well-being of the targeted society.

PurposeThe main purpose of this study is to identify the socioeconomic determinants of dropout from primary schools and to give policy suggestions to address the issue.Design/methodology/approachA total of 600 dropout and enrolled respondents were selected from 60 government primary schools of district Chiniot. School heads and parents of dropout children were taken as samples. The results were obtained by employing the Probit regression model.FindingsNumbers of family members, age of the family head, exchange marriage and poverty status have positive relationship with dropout from primary schools. The findings revealed a higher rate of dropout among girls, which is a major cause of concern.Practical implicationsEducation is regarded as a basic human right and a valuable human capital. It is included in Millennium Development Goals to achieve universal primary education and in Sustainable Development Goals as quality education. Underdeveloped countries are facing the problems of high dropout and lack of quality education, especially in Pakistan. These problems need to be addressed to keep pace with developed nations and to meet development goals.Originality/valueIt is recommended that government should create employment opportunities, family planning programs, legislature measures on exchange marriage and child labor. The involvement in co-curricular activities in learning and usage of audio-visual aids in the teaching process can improve the enrollment in the primary schools.