Ecological footprint and human well-being nexus: accounting for broad-based financial development, globalization, and natural resources in the Next-11 countries

Abstract The Next-11 (N11) countries have witnessed great advancements in economic activities the past few years. However, simultaneous attainment of environmental sustainability and improved human well-being has remained elusive. This study probes into ecological footprint (EF) nexus N11 by applying advanced estimation techniques compatible with heterogeneity, endogeneity, cross-sectional dependence across country groups. From findings, well-being, captured development index, increases EF, EF also which suggests a strong trade-off between both indicators. shows that policies are channeled toward promoting not consonance wellness. Financial biocapacity increase while natural resources globalization reduce it. Human all except Egypt. argues institutions could help mitigate trade-offs ease preservation well-being. limitations study, as well as, possible directions for future research discussed.