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.
Bosomtwe et al. (Wed,) studied this question.