Fig 1.
The overall trend of green energy, financial inclusion, and military expenditure [Source: WDI & IMF].
Fig 2.
Logical link between the study’s variables.
Fig 3.
Conceptual context of financial inclusion, military, energy use, and environment.
Fig 4.
Conceptual framework of the study.
Table 1.
Description of data.
Fig 5.
Overall methodological procedure.
Table 2.
Descriptive statistics.
Table 3.
Pairwise correlations.
Table 4.
Variance inflation factor with time effect.
Table 5.
Results of cross-sectional dependence tests.
Table 6.
Results of second-generation unit root tests.
Table 7.
Tests for the cointegration.
Table 8.
Results of green energy, financial inclusion, and military dynamic factors affecting environmental sustainability on a global level.
Table 9.
Results of green energy, financial inclusion, and military dynamic factors affecting environmental sustainability on different income level groups.
Table 10.
Results of time effect through two-step system GMM and D-K regression.
Table 11.
Outcomes of the robustness through quantile and D-K regressions in different income level groups.