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Nexus Between Sustainable Development, Adjusted Net Saving, Economic Growth, and Financial Development in South Asian Emerging Economies

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Abstract

In this paper, we empirically examine the association between sustainable development, adjusted net savings, financial development, economic growth and resources rent, using panel ordinary least squares technique, and panel generalized method of moments for a yearly panel data of three South Asia emerging economies, during the period of study from 1990 to 2020. We observed positive and significant effect of sustainable development goal index, financial development, and economic growth on the adjusted net saving, while the inflation rate and natural resource rent have negative and significant effect on sustainable development in South Asian emerging countries.

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Notes

  1. According to the World Commission on Environment and Development (Brundtland Commission) in, 1987.

  2. South Asian Emerging Economies are Bangladesh, India and Pakistan.

  3. The sustainable development index (SDI) measures the ecological efficiency of human development, recognizing that development must be achieved within planetary boundaries. It was created to update the Human Development Index (HDI) for the ecological realities of the Anthropocene. https://www.sustainabledevelopmentindex.org/

  4. The Hartwick rule was formulated for a production economy where consumption at any point of time depends not only on the resource extraction but also on the stock of man-made capital available at that point in time.

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Correspondence to Shahab Ud Din.

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Din, S.U., Khan, M.Y., Khan, M.J. et al. Nexus Between Sustainable Development, Adjusted Net Saving, Economic Growth, and Financial Development in South Asian Emerging Economies. J Knowl Econ 13, 2372–2385 (2022). https://doi.org/10.1007/s13132-021-00818-6

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