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This article examines the concepts of “deglobalization” and “decoupling” from the perspectives of developing and developed nations. It also assesses the short-term impacts of globalization, particularly in the context of the COVID-19 pandemic and predicts the long-term effects on global trade and cooperation between nations.

Panel data from 85 countries (2000–2022) were utilized. Poisson Pseudo-Maximum Likelihood (PPML) regression analysis was conducted to analyze pre- and post-COVID-19 globalization levels. The analysis focuses on trade patterns and trends, specifically comparing the effects on developing and developed nations.

First, there was a slight decline in global trade in 2020 due to COVID-19, followed by recovery in 2021–2022. Second, developing nations experienced more significant trade declines than did developed nations. Third, while US? China trade decreased slightly, China-India and US-India trade increased during the pandemic. These findings suggest that while there may be short-term disruptions, long-term trends indicate resilience in global trade patterns, with shifts in output and new partnerships emerging.

This study contributes to the understanding of deglobalization and decoupling by providing empirical evidence on pre- and post-COVID-19 trade patterns. The findings suggest that while globalization may have short-term effects, it is likely to lead to post-pandemic recovery and strengthened cooperation between developing and developed nations. This research also highlights the importance of developing strategies to manage uncertainty and external shocks in global trade, emphasizing the role of lockdown measures, national security considerations, and trade policies in shaping the future of globalization and decoupling.

The global energy sector draws significant stakeholder attention due to never-ending controversies surrounding its environmental impacts. Investors’ response to such controversies causes direct financial implications for these firms. Furthermore, environmental, social and governance (ESG) sensitivity, which is likely to safeguard the energy sector firms from such controversies, is itself conditional to the development stage of a country and its regulatory environment. Therefore, this study aims to investigate if the influence of ESG on the share price volatility (SPV) of energy sector firms is subject to the development stage of the countries.

The study investigates nine years of panel data of 93 global energy sector firms from developing and developed nations. Using dynamic two-way fixed effects estimation and computing robust standard errors to obtain the econometric results.

The main finding reveals that the impact of ESG on SPV is, indeed, subject to the development stage of the nations. Similar results are observed for the effects of the social dimension of ESG on SPV. While ESG impacts the SPV negatively for firms in developing economies, the impact is the opposite for firms in developed nations. In other words, strong ESG propositions induce share price stability for developing countries while destabilizing the firms in developed nations.

The policymakers should further streamline the regulations and policies related to ESG adoption and adherence. In practice, the energy sectors should streamline their operations. Firm managers, especially in the energy sector, should devise strategies with ESG as an essential component to safeguard their firms against environmental and market volatility and adversatives. The firms in developing nations should further strengthen their social dimension of ESG to foster social equity and harmony.

The study contributes through its niche investigations on the energy sector, which is very important for the world economy. The study is relevant in the current scenario when the world faces a severe energy crisis due to global supply chain issues.

The purpose of the present study is to test the effect of financial development and environmental degradation on the control of corruption.

This study used a dynamic approach known as system GMM to analyze annual data from 90 developed and developing countries over 24 years, from 1996 to 2020.

The present study shows a significantly negative relationship between financial development and control of corruption and a significantly positive relationship between environmental degradation and control of corruption. The result suggests that improvement in financial development may reduce control of corruption; however, reduction in environmental degradation may reduce control of corruption. The results are consistent across both developed and developing countries.

The study’s findings have significant implications for financial institutions, governmental policy departments and environmental regulatory agencies. The policy outcomes are closely linked to the economic prosperity of countries. In general, developing countries can implement strategies to promote financial development and environmental regulations, even though they may temporarily tolerate corrupt activities. Conversely, developed nations may have differing implications from developing countries.

This study is different from the past literature as none of the studies have been conducted previously focusing on developed and developing countries’ financial development, environmental degradation and control of corruption.

The paper studies how the International Federation of Accountants (IFAC) positioned itself in the process through which capacity building in developing countries was interpreted and enacted within the global development aid agenda from 1999 to 2016.

The paper is an in-depth case study drawing on a comprehensive analysis of publications, reports and archival materials.

The paper unveils how IFAC shaped the interpretation of capacity building and its associated practices in a manner aligned with its expansionary aims thereby transforming itself into a prominent actor within, what we term, the capacity building issue-based field. It unpacks the strategies pursued by IFAC as it mobilised economic, social and cultural resources in support of its global capacity building ambitions for the accountancy profession. It reveals how key interactions between actors in the international development exchange field and the professional exchange field of accounting underpinned IFAC’s infiltration of, and impact on the evolution of, the capacity building issue-based field. We show how IFAC increased its influence in this field despite initially operating on the periphery of the global development aid agenda.

The paper reveals how the global accountancy profession’s engagement with the capacity building activities of international development agencies became central to its commitment to serving the public interest. Our analysis suggests that deeper explorations of capacity building by the global accountancy profession in specific developing countries are required in order to determine whether these efforts have effectively catered to the needs of the citizens of those countries.

The work of professional accountancy organizations (PAOs) operating at the global level in the area of capacity building has been addressed in a fragmented fashion in prior research. This paper presents a unique analysis of developing alliances between the global accountancy profession and international aid agencies aimed at supporting the globalising efforts of IFAC within the realm of capacity building in international development aid. Theoretically, the paper advances prior work exploring the evolution of issue-based fields, in particular the role of inter-field relations in interstitial spaces within these processes.

There is a dearth of research that investigates the impact of national culture on budgeting and management indexes in the public sector across developing countries. Limited studies in accounting and management have explained the role of national culture in shaping organisational and individual values. It is posited that national cultural variables impact budget transparency and performance management. This study contributes to the literature by examining these relations in 16 developing countries.

Adopting an unbalanced timing framework, the current paper seeks to fulfill this gap and applies four cultural dimensions from the GLOBE study (House et al., 2004) as explanatory variables to investigate whether national culture is associated with budget transparency and performance management or not, particularly in the context of developing countries. The paper uses budget transparency as the first dependent variable, based on the OECD database from Qi and Mensah (2011), along with performance management as the second dependent variable, from the BTI Project (2016), according to the leadership's political performance management.

Generally, the empirical findings reveal a minimal relation among GLOBE cultural variables with budget transparency and performance management. Particularly, the empirical findings indicate that only performance orientation has a significant relation with budget transparency and performance management.

The findings of this paper suggest that any plan to improve a nation's budget transparency should consider the links between budgeting, performance management and the culture of those that run them.

The formal adoption of new methods by performance management may not be enough without accompanying efforts to transform performance orientation as an index of national culture.

The surge in internet usage has generated widespread speculation and optimism regarding its potential impact on the accessibility to financial services. The aim of this study is to investigate the effect of internet penetration on the accessibility of banking services in developed and developing countries.

Panel data regression methods are used to estimate the impact of internet penetration on accessibility to banking services in a sample of 74 countries from Global Findex survey waves of 2011, 2014, 2017 and 2021. To mitigate potential issues related to heteroscedasticity, autocorrelation and cross-sectional dependence, the study has implemented cluster robust standard errors testing. Furthermore, as a sensitivity check, the sample has been segregated into developed and developing country groups.

The study finds a significant positive correlation between internet penetration and banking access in full sample. Subsample analysis reveals that this relationship is statistically significant in developed countries, but not in developing ones, despite being positive. The research discusses the implications of these findings for both country groups.

Research to date has largely investigated the link between information and communication technology (ICT) and financial inclusion, often treating internet penetration as one component of ICT, which obscures its individual influence. This study, however, isolates internet penetration to specifically analyze its distinct effects on banking accessibility across developed and developing countries.

The purpose of this study is to explore the correlation between foreign direct investment (FDI) and carbon dioxide (CO₂) emissions in emerging economies, with a particular emphasis on Brazil, Russia, India, China and South Africa (BRICS) countries along with 10 the Organization for Economic Cooperation and Development nations.

This study uses quantitative research methods and econometric analysis to investigate the relationship between FDI inflows and CO₂ emissions in selected countries. Specifically, the research concentrates on assessing the impact of FDI on CO₂ emissions within the BRICS countries. By examining data spanning from 2000 to 2003, the study aims to shed light on the interaction between economic integration and environmental sustainability dynamics on a global scale.

The results of this study highlight notable contributors to CO₂ emissions within the BRICS countries, identifying Switzerland, Denmark and the UK as significant sources. These findings support the notion of a pollution haven, underscoring the influence of FDI in moulding environmental outcomes in developing economies.

Drawing from the study’s outcomes, suggestions are put forth to foster sustainable development strategies. It is recommended that BRICS nations prioritize the attraction of environmentally aware FDI to bolster efforts aimed at mitigating environmental harm.

This study adds to the ongoing discussion surrounding sustainable development by offering a concentrated analysis of how FDI influences CO₂ emissions within BRICS countries. Its novelty lies in questioning traditional assumptions about environmental accountability and emphasizing the necessity for cooperative endeavours between emerging and developed economies to effectively tackle global environmental issues.

This study aims to examine the impact of the International Financial Reporting Standards (IFRS) mandate and differences in national institutional quality on the underpricing of Initial Public Offering (IPO) companies.

Multiple Difference-in-Differences (DiD) ordinary least squares estimations were conducted for 100 corporations listed on the Saudi Arabian stock market using country-level institutional quality data from 2005 to 2017.

IFRS requirements and improvements in institutional quality have a combined effect on minimizing IPO underpricing. The analysis of the combined impact of IFRS requirements and differences in transparency revealed that IPO vendors leave $5 on average for IPO investors to cash out post the IFRS mandate, compared to $29 previously. Thus, IFRS serves as a quality certification instrument that alleviates IPO investors’ ex ante uncertainties, even in nations with undeveloped institutions.

The findings may be beneficial to researchers and policymakers. The results suggest that institutional quality enhancements and obligatory IFRS implementation highlight IFRS’s synergistic influence on the IPO market. While European harmonization efforts drove the adoption of IFRS in Europe in 2005, Saudi Arabia’s adoption of IFRS is not being driven by such initiatives (Daske et al., 2008; Persakis and Iatridis 2017). In reality, when IFRS was officially imposed in Saudi Arabia in 2008, it, like many other emerging market nations, made considerable reforms to its formal institutions. However, research on the combined impact of IFRS and disparities in institutional quality in emerging IPO markets remains sparse. Emerging markets represent more than half of economies that use IFRS. Therefore, to the best of the authors’ knowledge, this study is the first to conduct an empirical investigation to identify this combined effect in emerging countries using the DiD analytical technique. Equity market legislators remain concerned regarding IPO underpricing, as it has a detrimental influence on economic growth (Bova and Pereira, 2012; Jamaani and Ahmed, 2021; Mehmood et al., 2021). Depending on the degree of information asymmetry in national stock markets, underpricing costs increase the cost of going public for entrepreneurs. Consequently, prospective private firms are discouraged from accessing equity financing through the stock markets. This is likely to impede private sector development plans, causing a negative effect on economic growth.

Emerging countries represent over 50% of the IFRS mandating economies. However, there is insufficient research on the combined effect of IFRS requirements and improvements in institutional quality in developing IPO markets. To the best of the authors’ knowledge, this study is the first empirical attempt to identify this combined effect in one of the largest developing countries. The results may aid academics and policymakers in better understanding the interaction between these two variables.

This paper aims to examine the factors contributing to e-government development as a means to foster sustainable development, highlighting the need for robust e-government frameworks to navigate economic, social and environmental challenges.

A literature-based conceptual framework is presented, grounded in the comparative analysis of e-government in five diverse Asian countries. The paper introduces a research model with testable propositions and synthesizes lessons for future research, emphasizing the integration of e-government with sustainable development goals.

The key findings identify three critical factors for e-government development: policy priorities and strategic initiatives, ICT infrastructure and public–private partnerships investment. The research underscores e-government’s role in providing electronic services that support transparency and democracy, which are essential for sustainable development.

Limitations arise from focusing on select Asian countries, potentially affecting the generalizability of results, as well as the dynamic nature of technology and policy landscapes.

This paper underscores the essential role of governmental action in advancing sustainable development via e-government strategies, providing a framework for success in both developing and developed contexts. It demonstrates how e-government can drive sustainability by comparing the progress of five Asian countries to highlight best practices and challenges in implementing such systems effectively.

The paper uniquely bridges e-government and sustainable development research, showing e-government’s role as a sustainable development instrument. This novel integration is supported by extensive literature and a strategic selection of countries representing varying stages of e-government maturity, providing a well-rounded view of e-government’s impact on sustainable outcomes.

This paper aims to examine the alternative financing available for sustainable infrastructure development in Nigeria’s sub-nations. Specifically, the study question is: what financial vehicles do sub-nations seek most, and what are the underlying reasons for their preferences?

The study used a two-round Delphi method, using a questionnaire to gather data from high-ranking government officials in states that have localised sustainable development projects in Nigeria.

Results show that fundamental to sub-national sustainable infrastructure projects are federal allocations, pension funds, private equity, bonds and concessionary grants. Sub-nationals prefer these options, especially the emphasis on private equity, and the concessional funding through catalytic or blended finance because of their relatively lower or below-market interest rates.

The practical significance of this study is that the state’s policymakers can now identify appropriate strategies that enhance the shift towards these sustainable financing options, which will serve as a key catalyst in their 2030 and beyond vision to accelerate their state's infrastructure climate complaint. Equally, investors possessing funds with such attributes will gain an understanding of a prospective market within Nigeria’s sub-nation.

This study aims to improve the development of sustainable infrastructure in Nigeria’s sub-nations, which would have a beneficial effect on society by mitigating the effects of climate change.

The recommendations of this study can contribute to the development of innovative financial models for sub-national infrastructure development, thereby reducing reliance on revenue generated from fossil fuels.