The Key to Sustainable Economic Development: A Triple Bottom Line Approach

Elisabete Nogueira, Sofia Gomes and João M. Lopes
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Elisabete Nogueira: REMIT—Research on Economics, Management and Information Technologies, University Portucalense, R. Dr. António Bernardino de Almeida 541, 4200-072 Porto, Portugal
Sofia Gomes: REMIT—Research on Economics, Management and Information Technologies, University Portucalense, R. Dr. António Bernardino de Almeida 541, 4200-072 Porto, Portugal
João M. Lopes: Miguel Torga Institute of Higher Education, NECE-UBI—Research Unit in Business Sciences, University of Beira Interior, Estrada do Sineiro, s/n, 6200-209 Covilhã, Portugal

Resources, 2022, vol. 11, issue 5, 1-18

Abstract: Concerns about improving social, environmental, and economic living standards are the basis of the triple bottom line (TBL) link to economic development (ED). Aware of the importance of studying their relationship, this article analysed the influence of TBL on ED. A quantitative methodology was used. The sample comprised a panel of data from 2006 to 2019 for OECD (Organisation for Economic Co-operation and Development) countries. Five multiple linear regression models were estimated by the generalised method of moments. The results of this study revealed that the social dimension of TBL boosts ED, the environmental dimension of TBL slows down ED, and the economic dimension of TBL contains conflicting synergies in ED. The Human Development Index (HDI) should now include indicators of environmental wellbeing. Governments should adopt policies to improve social wellbeing to boost ED, work to coordinate the objectives of environmental protection and ED, and combat vulnerabilities arising from public debt. As one of the first studies to assess the influence of TBL on ED at the country level, the present findings contribute to the reflection about the influence of TBL on a country’s ED and strengthens the discussion around the influence of different dimensions of TBL.

Keywords: triple bottom line; economic development; Human Development Index; sustainable society index; human wellbeing; environmental wellbeing; economic wellbeing (search for similar items in EconPapers)
JEL-codes: Q1 Q2 Q3 Q4 Q5 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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