مجلة البحوث الاقتصادية والمالية
Volume 12, Numéro 2, Pages 561-583
2025-12-25

The Impact Of Esg Factors On Export Diversification: Evidence From Emerging Countries Using Panel Ardl Model

Authors : Bouldjenib Adel .

Abstract

This study aims to examine the relationship between environmental, social, and governance (ESG) factors and export diversification in emerging economies. Using a panel ARDL model on data from 1995 to 2022, the research investigates the short and long-term impacts of each ESG pillar on reducing export concentration and encouraging more diversified trade structures. The results show significant long-term effects: improving ESG performance decreases export concentration. Specifically, lower carbon dioxide emissions, higher life expectancy, and a stronger rule of law are linked to increased export diversification. In contrast, short-term analysis highlights the transition costs of ESG reforms, which can initially slow down diversification efforts.

Keywords

ESG factors ; Export diversification ; Emerging countries ; sustainability