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Driving human development through ecological impact for emerging economies: the role of trade openness. | LitMetric

AI Article Synopsis

  • * It finds that trade openness has a positive influence on SHD, highlighting its importance in sustainable development strategies, while noting that foreign direct investment, economic growth, and renewable energy also contribute positively.
  • * Conversely, the study indicates that innovations and institutional quality can negatively impact SHD, providing policy recommendations for emerging economies to enhance various dimensions of sustainable development.

Article Abstract

The present study attempts to examine the link between trade openness and sustainable human development (SHD) in 19 emerging economies. The study used the data for the period from 1996 to 2019. The study employed fixed-effect regression with Driscoll-Kraay standard error techniques robust to cross-section dependence. The study found the favorable impact of trade openness on sustainable development through sustainable human development. Trade openness affects sustainable human growth in many ways. It is a critical component that should not be ignored in sustainable development policies. Moreover, foreign direct investment, economic growth, and renewable energy consumption positively impact the sustainable human development. In contrast, innovations and institutional quality have an adverse impact on SHD. The study also provides policy suggestions for the emerging economies that will promote all the dimensions of sustainable development: economic, social, and environmental.

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Source
http://dx.doi.org/10.1007/s11356-024-34787-5DOI Listing

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