Monetary Policy, Institutional Quality, and Ecological Footprint: Insight From ECOWAS

Emmanuel Bosomtwe; Baah Aye Kusi; Samuel Gameli Gadzo; Collins G. Ntim

doi:10.1002/cli2.70048

Monetary Policy, Institutional Quality, and Ecological Footprint: Insight From ECOWAS

Emmanuel Bosomtwe
, Baah Aye Kusi
, Samuel Gameli Gadzo
, Collins G. Ntim

Department Of Finance

University of Education, Winneba
University of Southampton
Azerbaijan State University of Economics
University for Development Studies Ghana
Taylor's University Malaysia

Research output: Contribution to journal › Article › peer-review

Abstract

This study examines the effect of monetary policy on ecological footprints (EFPs) and the moderating role of institutions in ECOWAS. Using a census of all 15 member states and 19 years of panel data, pooled mean, fixed effects, difference GMM, and SGMM were applied. Policy rates and money supply had a significant positive impact on EFPs. Rule of law negatively moderated this relationship, while regulatory quality had a positive moderating effect. Strong institutions and effective regulation reduce biodiversity loss and EFPs.

Original language	English
Article number	e70048
Journal	Climate Resilience and Sustainability
Volume	5
Issue number	1
DOIs	https://doi.org/10.1002/cli2.70048
Publication status	Published - Jun 2026

Keywords

ECOWAS
GMM
ecological footprint
green economy
institutional quality
monetary policy

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10.1002/cli2.70048

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title = "Monetary Policy, Institutional Quality, and Ecological Footprint: Insight From ECOWAS",

abstract = "This study examines the effect of monetary policy on ecological footprints (EFPs) and the moderating role of institutions in ECOWAS. Using a census of all 15 member states and 19 years of panel data, pooled mean, fixed effects, difference GMM, and SGMM were applied. Policy rates and money supply had a significant positive impact on EFPs. Rule of law negatively moderated this relationship, while regulatory quality had a positive moderating effect. Strong institutions and effective regulation reduce biodiversity loss and EFPs.",

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AU - Gadzo, Samuel Gameli

AU - Ntim, Collins G.

PY - 2026/6

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N2 - This study examines the effect of monetary policy on ecological footprints (EFPs) and the moderating role of institutions in ECOWAS. Using a census of all 15 member states and 19 years of panel data, pooled mean, fixed effects, difference GMM, and SGMM were applied. Policy rates and money supply had a significant positive impact on EFPs. Rule of law negatively moderated this relationship, while regulatory quality had a positive moderating effect. Strong institutions and effective regulation reduce biodiversity loss and EFPs.

AB - This study examines the effect of monetary policy on ecological footprints (EFPs) and the moderating role of institutions in ECOWAS. Using a census of all 15 member states and 19 years of panel data, pooled mean, fixed effects, difference GMM, and SGMM were applied. Policy rates and money supply had a significant positive impact on EFPs. Rule of law negatively moderated this relationship, while regulatory quality had a positive moderating effect. Strong institutions and effective regulation reduce biodiversity loss and EFPs.

KW - ECOWAS

KW - GMM

KW - ecological footprint

KW - green economy

KW - institutional quality

KW - monetary policy

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DO - 10.1002/cli2.70048

M3 - Article

AN - SCOPUS:105038642689

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JO - Climate Resilience and Sustainability

JF - Climate Resilience and Sustainability

IS - 1

M1 - e70048

ER -

Monetary Policy, Institutional Quality, and Ecological Footprint: Insight From ECOWAS

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