International oil price uncertainty and enterprise investment efficiency: An empirical research of listed companies in China.

This article investigates the effect of international oil price uncertainty on investment efficiency using quarterly data of Chinese A-share listed companies from 2011 to 2020. It is discovered that uncertainty about oil prices increases principal-agent conflicts and information asymmetry in enterprises, leads to more inefficient investment, and ultimately lowers firms' investment efficiency. Furthermore, China's unique property rights foundation, firm size, and life cycle limit the aforementioned consequences. Additional investigation reveals that by raising companies' cash reserves, oil price uncertainty exacerbates overinvestment behavior. The study presented in this article can serve as a guide for businesses looking to make the best decisions in the context of volatile global oil prices and support their long-term, stable development.

Balancing growth and sustainability: COP 28 policy implications of green energy, industrialization, foreign direct investment, and globalization in South Asia.

This research investigates the intricate relationships between economic variables and how they affect South Asian nation's ability to develop sustainably. Given the growing concerns about climate change and global warming brought on by emissions of greenhouse gases, this study looks into the connection between emissions of CO2, green energy, industrialization, foreign direct investment, economic globalization, and financial development from 1995 to 2022. Second-generation panel techniques were employed in this study to look at the relationship between variables because of the potential of residual cross-sectional dependency and heterogeneity. The empirical outcomes display that green energy, economic globalization, and financial development reduce CO2 emissions by 1.839%, 1.223%, and 3.902% respectively. Industrialization and foreign direct investment degrade the environment by 4.302% and 1.893% respectively. A bidirectional causality link between green energy, industrialization, economic globalization, and CO2 emissions was found by Dumitrescu and Hurlin (D-H). Based on our findings, we recommend legislative support for renewable energy, cleaner technologies, and strict environmental regulations, aligning with the Sustainable Development Goals (SDGs). Encouraging FDI, sustainable practices, and financial development can drive economic growth while preserving the environment. As we approach COP28, this holistic approach to sustainable development becomes increasingly vital for South Asian countries to achieve their SDG targets and combat climate change.

Transplant management in Brazil: a temporal analysis of financial investments and procedures.

OBJECTIVE: To analyze public management actions regarding organ, cell, and tissue transplant procedures and their financial investments in Brazil. METHOD: Mixed (time and place) ecological study, carried out based on data from the Hospital Information System of the Brazilian Public Health System (SUS) Information Technology Department and the National Transplant System, from 2001 to 2023. Temporal trend analyses, descriptive and inferential statistics were performed. RESULTS: Organ, cell, and tissue transplants are concentrated in the Southeast region of the country, with increased costs there. The Northeast and South regions of Brazil have the longest waiting list, with an increasing trend (R2 = 0.96), associated with a decreasing trend in the number of transplants (R2 = 0.97). CONCLUSION: The difference in the total number of transplants and procedures performed among the Brazilian regions represents the need for organization and investments with strategies aimed at training professionals and raising awareness among the population.

A roadmap for affordable genetic medicines.

Twenty genetic therapies have been approved by the US Food and Drug Administration to date, a number that now includes the first CRISPR genome-editing therapy for sickle cell disease-CASGEVY (exagamglogene autotemcel, Vertex Pharmaceuticals). This extraordinary milestone is widely celebrated owing to the promise for future genome-editing treatments of previously intractable genetic disorders and cancers. At the same time, such genetic therapies are the most expensive drugs on the market, with list prices exceeding US$4 million per patient. Although all approved cell and gene therapies trace their origins to academic or government research institutions, reliance on for-profit pharmaceutical companies for subsequent development and commercialization results in prices that prioritize recouping investments, paying for candidate product failures and meeting investor and shareholder expectations. To increase affordability and access, sustainable discovery-to-market alternatives are needed that address system-wide deficiencies. Here we present recommendations of a multidisciplinary task force assembled to chart such a path. We describe a pricing structure that, once implemented, could reduce per-patient cost tenfold and propose a business model that distributes responsibilities while leveraging diverse funding sources. We also outline how academic licensing provisions, manufacturing innovation and supportive regulations can reduce cost and enable broader patient treatment.

Economics of Antibody Drug Conjugates (ADCs): Innovation, Investment and Market Dynamics.

PURPOSE OF REVIEW: This review aims to explore the intricate interplay between scientific advancements and economic considerations in the development, production, and commercialization of Antibody Drug Conjugates (ADCs). The focus is on understanding the challenges and opportunities at this unique intersection, highlighting how scientific innovation and economic dynamics mutually influence the trajectory of ADCs in the pharmaceutical landscape. RECENT FINDINGS: There has been a significant increase in interest and investment in the development of ADCs. Initially focused on hematological malignancies, ADCs are now being researched for use in treating solid tumors as well. Pharmaceutical companies are heavily investing to broaden the range of indications for which ADCs can be effective. According to a report from the end of 2023, the global ADCs market grew from USD 1.4 billion in 2016 to USD 11.3 billion in 2023, with projections estimating a value of USD 23.9 billion by 2032, growing at a CAGR of 10.7%. ADCs represent a promising class of biopharmaceuticals in oncology, with expanding applications beyond hematological malignancies to solid tumors. The significant growth in the ADC market underscores the impact of scientific and economic factors on their development. This review provides valuable insights into how these factors drive innovation and commercialization, shaping the future of ADCs in cancer treatment.

Evolving methodology of national tobacco control investment cases.

BACKGROUND: This article describes an investment case methodology for tobacco control that was applied in 36 countries between 2017 and 2022. METHODS: The WHO Framework Convention on Tobacco Control (FCTC) investment cases compared two scenarios: a base case that calculated the tobacco-attributable mortality, morbidity and economic costs with status quo tobacco control, and an intervention scenario that described changes in those same outcomes from fully implementing and enforcing a variety of proven, evidence-based tobacco control policies and interventions. Health consequences included the tobacco-attributable share of mortality and morbidity from 38 diseases. The healthcare expenditures and the socioeconomic costs from the prevalence of those conditions were combined to calculate the total losses due to tobacco. The monetised benefits of improvements in health resulting from tobacco control implementation were compared with costs of expanding tobacco control to assess returns on investment in each country. An institutional and context analysis assessed the political and economic dimensions of tobacco control in each context. RESULTS: We applied a rigorous yet flexible methodology in 36 countries over 5 years. The replicable model and framework may be used to inform development of tobacco control cases in countries worldwide. CONCLUSION: Investment cases constitute a tool that development partners and advocates have demanded in even greater numbers. The economic argument for tobacco control provided by this set of country-contextualised analyses can be a strong tool for policy change.

WTI, Brent or implied volatility index: Perspective of volatility spillover from oil market to Chinese stock market.

This study investigates the impact of oil market uncertainty on the volatility of Chinese sector indexes. We utilize commonly used realized volatility of WTI and Brent oil price along with the CBOE crude oil volatility index (OVX) to embody the oil market uncertainty. Based on the sample span from Mar 16, 2011 to Dec 31, 2019, this study utilizes vector autoregression (VAR) model to derive the impacts of the three different uncertainty indicators on Chinese stock volatilities. The empirical results show, for all sectors, the impact of OVX on sectors volatilities are more economically and statistically significant than that of realized volatility of both WTI and Brent oil prices, especially after the Chinese refined oil pricing reform of March 27, 2013. That implies OVX is more informative than traditional WTI and Brent oil prices with respect to volatility spillover from oil market to Chinese stock market. This study could provide some important implications for the participants in Chinese stock market.

Private equity investment in health care delivery, Australia, 2008-2022.

OBJECTIVES: To examine the scale of private equity investment in Australian health care delivery assets (clinics, hospitals, imaging facilities, other doctor-led health care services). STUDY DESIGN, SETTING: Extraction of information about private equity acquisitions of hospitals, clinics, imaging centres and in vitro fertilisation facilities in Australia, 2008-2022, from a commercial database (PitchBook), supplemented by information from publicly available online media sources. MAIN OUTCOME MEASURES: Number and value of private equity acquisitions of health care assets, 2008-2022; numbers of clinic parent company and clinic acquisitions, 2017-2022. RESULTS: A total of 75 private equity acquisitions of health care delivery assets in Australia during 2008-2022 were identified; the annual number rose from three acquisitions in 2008 to eighteen in 2022. During 2008-2010, five of seven acquisitions were of in vitro fertilisation providers; during 2020-2022, 22 of 39 acquisitions were of clinics or clinic groups, including eleven of eighteen in 2022. The total value of the 39 acquisitions for which purchase price could be ascertained (52%) was $24.1 billion. During 2017-2022, the clinic specialty with the greatest number of private equity acquisitions was general practice (256 of 446 clinics purchased within acquisitions). Seven companies owning ophthalmology clinics (24 clinics) were acquired by private equity. Four private equity acquisitions during 2017-2022 included 60 oncology clinics, all related to a single clinic group. CONCLUSIONS: The number of private equity acquisitions of Australian health care delivery assets increased during 2008-2022. Doctors should be aware of the motivations and dynamics of private equity companies, as they are increasingly likely to interact with these firms and assets owned by these firms.

Participatory methods used in the evaluation of medical devices: a comparison of focus groups, interviews, and a survey.

BACKGROUND: Stakeholder engagement in evaluation of medical devices is crucial for aligning devices with stakeholders' views, needs, and values. Methods for these engagements have however not been compared to analyse their relative merits for medical device evaluation. Therefore, we systematically compared these three methods in terms of themes, interaction, and time-investment. METHODS: We compared focus groups, interviews, and an online survey in a case-study on minimally invasive endoscopy-guided surgery for patients with intracerebral haemorrhage. The focus groups and interviews featured two rounds, one explorative focussing on individual perspectives, and one interactive focussing on the exchange of perspectives between participants. The comparison between methods was made in terms of number and content of themes, how participants interact, and hours invested by all researchers. RESULTS: The focus groups generated 34 themes, the interviews 58, and the survey 42. Various improvements for the assessment of the surgical procedure were only discussed in the interviews. In focus groups, participants were inclined to emphasise agreement and support, whereas the interviews consisted of questions and answers. The total time investment for researchers of focus groups was 95 h, of interviews 315 h, and survey 81 h. CONCLUSIONS: Within the context of medical device evaluation, interviews appeared to be the most appropriate method for understanding stakeholder views since they provide a scope and depth of information that is not generated by other methods. Focus groups were useful to rapidly bring views together. Surveys enabled a quick exploration. Researchers should account for these methodological differences and select the method that is suitable for their research aim.

Global trends in psycho-oncology research investments 2016-2020: A content analysis.

OBJECTIVE: An estimated one-third of cancer patients experience a clinically significant psychological disorder, however it is unclear to what extent this is reflected in research funding. To address this a systematic analysis the allocation of psycho-oncology research funding globally between 2016 and 2020 was conducted. METHODS: A global dataset of 66,388 cancer research awards, from 2016 to 2020 inclusive and totalling $24.5 billion USD was assembled from public and philanthropic funders. Each award was previously categorised by cancer site type and research theme, including psychosocial research and these awards were further sub-categorised for this analysis. RESULTS: There was $523m of funding awarded for psychological research across 1122 studies: 2.14% of all cancer research funding during this period ($24.5 billion). Median funding per award was $97,473 (IQR $36,864 - $453,051). Within psychological research, mental health received most funding ($174m, 33.5% of psychological funding). Cognitive behavioural therapy (CBT) focused research was the specific psychological support with the highest proportion of funding at $14 million. By country of funder, the USA provided most investment ($375.5 m, 71.8%). CONCLUSIONS: Psycho-oncology research received relatively little funding, for example, when compared with pre-clinical cancer research. There needs to be a shift from pre-clinical science to research that benefits cancer patients in the shorter-term. Low- and middle-income countries, and ethnic minorities in higher-income settings, were underrepresented despite having a large cancer burden, indicating inequities that need to be addressed.

Práticas do psicólogo escolar em um atendimento educacional a estudantes superdotados / School psychologist practices in an educational program for gifted students / Prácticas del psicólogo escolar en un programa educativo para alumnos superdotados

Este estudo objetivou investigar práticas dos psicólogos escolares em atendimento educacional a estudantes superdotados, bem como os desafios enfrentados por estes profissionais. O cenário da pesquisa foi um atendimento educacional especializado para estudantes com altas habilidades/superdotação oferecido por uma secretaria de estado de Educação da região Centro-Oeste do Brasil. Participaram cinco psicólogas(os) escolares atuantes no atendimento, e utilizou-se a entrevista semiestruturada como instrumento. Para a análise dos dados, optou-se pela análise de conteúdo qualitativa. Os resultados revelaram que as(os) psicólogas(os) escolares realizam práticas envolvendo alunos, familiares e professoras(es), com cinco categorias se destacando: avaliação psicológica do aluno; práticas de acolhimento, suporte e orientação; intervenções breves; planejamento, desenvolvimento e acompanhamento das atividades; e divulgação do atendimento ao superdotado. Contudo, as(os) psicólogas(os) enfrentam desafios em sua atuação, como o impacto de mitos e crenças populares equivocadas, trocas de governo, inconsistência na legislação sobre a educação do superdotado, insuficiência de investimentos no atendimento e influência de outros fatores contextuais. Conclui-se que as(os) psicólogas(os) escolares desempenham funções cruciais no atendimento ao superdotado, sobretudo no que tange ao mapeamento das necessidades do aluno e ao suporte aos envolvidos em sua educação, mas diversos fatores limitam sua prática. Logo, propõem-se direções para possibilitar uma atuação mais ampla e efetiva da(o) psicóloga(o).(AU)

This study aimed to investigate school psychologists' practices in an educational program for gifted students, as well as the challenges they face. The study scenario was a specialized educational program for students with high abilities/giftedness offered by a state secretary of Education located in the Midwest region of Brazil. Five school psychologists working in the program participated, and a semi-structured interview was used as instrument. Qualitative content analysis was performed to analyze the data. The results revealed that school psychologists carry out practices involving students, family members, and teachers, with five categories of practices standing out: psychological assessment of the student; welcoming, support, and guidance practices; brief interventions; planning, development, and monitoring of the activities; and dissemination of the program for the gifted. However, psychologists face challenges in their practice, such as the impact of mistaken myths and misconceptions, the government changes, the inconsistency in gifted education legislation, the insufficiency of investments in the program, and the influence of other contextual factors. In conclusion, school psychologists play crucial roles in serving the gifted, especially in mapping student's needs and supporting those involved in their education, but several factors limit their practice. Therefore, directions are proposed to enable a broader and more effective practice of the psychologist.(AU)

Este estudio tuvo por objetivo examinar prácticas de los/as psicólogos/as escolares en un programa educativo para alumnos superdotados, así como los desafíos que enfrentan estos profesionales. El escenario de investigación ha sido un programa educativo especializado para alumnos con altas capacidades/superdotación, ofrecido por una Secretaría del Estado de Educación de la región Centro-Oeste en Brasil. En este estudio participaron cinco psicólogos escolares que trabajan en este programa, y se utilizó como instrumento la entrevista semiestructurada. Para el análisis de datos, se optó por el análisis de contenido cualitativo. Los resultados revelan que los/las psicólogos/as escolares realizan prácticas involucrando a alumnos, familiares y docentes, en las cuales destacaron cinco categorías: evaluación psicológica del alumno; prácticas de acogida, apoyo y orientación; intervenciones breves; planificación, desarrollo y seguimiento de actividades; y difusión del programa para los superdotados. Sin embargo, los/as psicólogos/as se enfrentan a desafíos en su práctica, como el impacto de los mitos y creencias erróneas, de los cambios de gobierno, de la inconsistencia en la legislación sobre la educación de los superdotados, de la insuficiencia de inversiones en el programa y de la influencia de otros factores contextuales. Se concluye que los/as psicólogos/as escolares desarrollan un papel crucial en la atención al superdotado, especialmente en el mapeo de las necesidades de los alumnos y el apoyo a los involucrados en su educación, pero varios factores limitan su práctica. Por lo tanto, se proponen direcciones que permitan una actuación más amplia y efectiva de este profesional.(AU)

On the relationship between oil market and European stock returns.

This paper investigates the dynamic relationship between the oil market and European stock market returns using monthly data from May 2007 to April 2022 for 27 European Union member countries. A novel approach is adopted by using the time-varying Granger causality test and the structural vector auto-regression model to examine the causal links. Empirical results reveal strong evidence of time-varying causation between the variables, considering the oil market from both the supply-side and demand-side perspectives. In light of these findings, numerous policy considerations emerge, including refining risk management strategies for investors, reformulating economic and energy policies, the potential impact on monetary policy decisions, the need for ad hoc market regulations, facilitating investor education initiatives, promoting international cooperation, and advancing the transition to sustainable energy sources.

Private equity and healthcare firm behavior: Evidence from ambulatory surgery centers.

Healthcare firms regularly seek outside capital; yet, we have an incomplete understanding of external investor influence on provider behavior. We investigate the effects of private equity investment, divestment, and an initial public offering (IPO) on ambulatory surgery centers (ASCs). Throughput is unchanged while charges grow by up to 50% for the same service mix. Affected ASCs witness declines in privately insured cases and rely more on Medicare business. Private equity increases physician ASC ownership stakes, and both simultaneously divest when the ASC is sold. Our findings appear more consistent with private equity influencing the financing of ASCs, rather than treatment approaches.

Dynamic risk connectedness of crude oil price and sustainable investment in the United States: evidence from DCC-GARCH.

Sustainable investment is widely regarded as an important market-based approach to achieving inclusive green growth. To achieve the inclusive green growth objective, companies providing sustainable products must be profitable enough to attract private capital. Oil price changes can however affect the profitability of such companies. This study assesses volatility transmission between crude oil prices and sustainable investment in the USA. Using the dynamic conditional correlation-generalized autoregressive conditional heteroskedasticity (DCC-GARCH) method, daily data from September 28, 2012, to October 19, 2022, is analyzed. There are several key findings from this analysis. The risk connectedness of crude oil and sustainable investment is found to vary with time. Results further show that the risk connectedness increases in periods of important economic and geopolitical events. The greatest risk connectedness of crude oil and sustainable investment is observed during the outbreak of coronavirus disease (COVID-19). Moreover, the result shows that crude oil is the main risk transmitter, whereas, both the energy efficiency and pollution mitigation indices (i.e., sustainable investment) are risk receivers, and crude oil is constantly dominating sustainable investment. The study findings provide valuable insights for investors and policymakers alike.

Inversión económica en salud en América en los últimos veinte años / Economic investment in health programs in North, Central and South American countries during the last twenty years / Investimento econômico em saúde na América nos últimos vinte anos

Introducción: La inversión en salud es fundamental para brindar una oportuna atención a los pacientes, y a la vez efectuar programas de prevención para el bienestar de la ciudadanía. Objetivo: Comparar la inversión en salud en los países de América en los últimos veinte años. Materiales y métodos: Se empleó el Modelo Lineal General con base en la técnica MANOVA, suplementando con análisis clúster. Las variables evaluadas fueron: gasto invertido por el sector público en salud expresado en porcentaje; porcentaje del gasto total invertido en salud; PIB (Producto Interno Bruto) salud y gasto público salud per cápita expresado en euros. Resultados: Estados Unidos presenta diferencia estadística significativa respecto a las demás naciones del continente (p<0,05), en lo relacionado al PIB y al gasto público per cápita en euros destinado a la salud. Venezuela posee el menor gasto invertido por el sector público en salud expresado en porcentaje. Conclusiones: Existen grandes brechas en la inversión en salud en América; países con mayor poder adquisitivo como Estados Unidos y Canadá, presentan las mayores cifras. Venezuela es el país con la menor inversión del PIB dedicada a gastos de salud, siendo la única nación que en los últimos años ha reducido esta variable.

Introduction:Health investment is essential to provide patient care and develop prevention programs for the wellbeing of citizens. Objective:To compare investment in health programs by American countries during the last twenty years. Methods:A General Linear Model based on the MANOVA technique was applied, which was supplemented with cluster analysis. The assessed variables were: investments in health by the public sector (expressed as a percentage); percentage of the total spending invested in health; and health GDP(Gross Domestic Product) and public health expenditure per capita (presented in Euros). Results:In reference to GDP and public spending per capita allocated to health (in Euros), the United States shows a statistically significant difference compared to other nations of the continents (p<0.05). Venezuela has the lowest public expenditure in health, expressed as percentage. Conclusions:There is a large difference in terms of investment in health in the Americas, where the economically strongest countries such as the United States and Canada show the highest figures. Venezuela is the country with the lowest GDP investment in health, being the only nation that reduced this variable in recent years.

Introdução:O investimento na saúde é fundamental para poder prestar cuidados oportuna aos doentes e ao mesmo tempo realizar programas de prevenção para o bem-estar dos cidadãos. Objetivo: Comparar o investimento em saúde nos países da América nos últimos vinte anos. Materiais e métodos:Foi utilizado o Modelo Linear Geral com base na técnica MANOVA, complementada com análise de cluster. As variáveis avaliadas foram: gastos investidos pelo setor público em saúde expressos em percentual; percentual do gasto total investido em saúde; PIB (Produto Interno Bruto) da Saúde e despesa pública em saúde per capita expressa em euros. Resultados:Os Estados Unidos apresentam uma diferença estatisticamente significativa em relação às demais nações do continente (p<0,05), em relação ao PIB e ao gasto público per capita em euros alocado à saúde. A Venezuela tem o menor gasto investido pelo setor público em saúde expresso em porcentagem. Conclusões:Existem grandes lacunas de investimento em saúde nas Américas, onde os países de maior poder aquisitivo, como Estados Unidos e Canadá, apresentam os valores mais elevados. A Venezuela é o país com menor investimento do PIB dedicado aos gastos com saúde, sendo a única nação que nos últimos anos reduziu esta variável.

Global funding for cancer research between 2016 and 2020: a content analysis of public and philanthropic investments.

BACKGROUND: Cancer is a leading cause of disease burden globally, with more than 19·3 million cases and 10 million deaths recorded in 2020. Research is crucial to understanding the determinants of cancer and the effects of interventions, and to improving outcomes. We aimed to analyse global patterns of public and philanthropic investment in cancer research. METHODS: In this content analysis, we searched the UberResearch Dimensions database and Cancer Research UK data for human cancer research funding awards from public and philanthropic funders between Jan 1, 2016, and Dec 31, 2020. Included award types were project and programme grants, fellowships, pump priming, and pilot projects. Awards focused on operational delivery of cancer care were excluded. Awards were categorised by cancer type, cross-cutting research theme, and research phase. Funding amount was compared with global burden of specific cancers, measured by disability-adjusted life-years, years lived with disability, and mortality using data from the Global Burden of Disease study. FINDINGS: We identified 66 388 awards with total investment of about US$24·5 billion in 2016-20. Investment decreased year-on-year, with the largest drop observed between 2019 and 2020. Pre-clinical research received 73·5% of the funding across the 5 years ($18 billion), phase 1-4 clinical trials received 7·4% ($1·8 billion), public health research received 9·4% ($2·3 billion), and cross-disciplinary research received 5·0% ($1·2 billion). General cancer research received the largest investment ($7·1 billion, 29·2% of the total funding). The most highly funded cancer types were breast cancer ($2·7 billion [11·2%]), haematological cancer ($2·3 billion [9·4%]), and brain cancer ($1·3 billion [5·5%]). Analysis by cross-cutting theme revealed that 41·2% of investment ($9·6 billion) went to cancer biology research, 19·6% ($4·6 billion) to drug treatment research, and 12·1% ($2·8 billion) to immuno-oncology. 1·4% of the total funding ($0·3 billion) was spent on surgery research, 2·8% ($0·7 billion) was spent on radiotherapy research, and 0·5% ($0·1 billion) was spent on global health studies. INTERPRETATION: Cancer research funding must be aligned with the global burden of cancer with more equitable funding for cancer research in low-income and middle-income countries (which account for 80% of cancer burden), both to support research relevant to these settings, and build research capacity within these countries. There is an urgent need to prioritise investment in surgery and radiotherapy research given their primacy in the treatment of many solid tumours. FUNDING: None.

Evaluating the total-factor efficiency of E3 in oil-producing countries, with emphasis on education.

Global warming is one of the greatest challenges of the contemporary world. Overcoming this problem requires a global determination in energy management and a significant reduction in the use of fossil fuels worldwide. The objectives of this article are to investigate the role of education in economic growth and to evaluate the total-factor energy, economic and environmental efficiency (E3) of oil-producing countries and productivity changes between 2000 and 2019. These countries were divided into two categories of middle- and high-income ones. The panel data model was used to estimate the role of education in the countries' economic growth, and the data envelopment analysis (DEA) method was used to measure their total-factor efficiency (E3). The findings indicate that education has a positive role in economic growth. In general, Norway proved to be efficient in all indicators of e1, e2, e3, and E3. The worst performance in e1 belonged to Canada (0.45) and Saudi Arabia (0.45); in e2, to Algeria (0.67) and Saudi Arabia (0.73); in e3, to the USA (0.04) and Canada (0.08); and in E3, to Canada (0.46), Saudi Arabia (0.48), and the USA (0.64). The average total-factor efficiency of all indicators for the selected countries was low. Average changes in total-factor productivity and technological changes for all the selected countries had decreased in e1 and e3 but improved in e2 and E3 during the studied period. The changes in technical efficiency also decreased during the period. Moving towards a low-carbon economy, developing creative and environment-friendly technologies, more investment in clean and renewable energy, and creating diversity in production, especially for OPEC and countries with single-product economies, are some of the ways suggested for improving E3 efficiency in the countries.