The Financing Framework for Sustainable Development in Emerging Economies: The Case of Uruguay

Nicolás Gambetta, Paula Azadian, Victoria Hourcade and María Elisa Reyes
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Paula Azadian: Facultad de Administración y Ciencias Sociales, Universidad ORT Uruguay, Bulevar España 2633, 11300 Montevideo, Uruguay
Victoria Hourcade: Facultad de Administración y Ciencias Sociales, Universidad ORT Uruguay, Bulevar España 2633, 11300 Montevideo, Uruguay
María Elisa Reyes: Facultad de Administración y Ciencias Sociales, Universidad ORT Uruguay, Bulevar España 2633, 11300 Montevideo, Uruguay

Sustainability, 2019, vol. 11, issue 4, 1-24

Abstract: This paper explores the financing framework for sustainable development in Uruguay, an emerging economy, and examines whether available financing instruments contribute to achieving the sustainable development goals (SDGs) in which significant progress is still required in this country. Reports, policy documents and academic literature were reviewed to determine the types of sustainable development financing instruments available, and to analyse the challenges facing emerging economies in this regard. In addition, the financing programmes available from the public sector, non-governmental organisations (NGOs), the financial sector and multilateral credit agencies were examined. The results obtained show that the main financing sources for sustainable development are located within the public sector due to the absence of a developed financial market, and that the existing financial instruments do not address the SDGs where most attention is required. The latter circumstances make it challenging to achieve these SDGs in Uruguay. The study findings highlight the need for greater coordination among all parties to make efficient use of the scarce resources available to an emerging economy and thus enable it to meet its SDGs.

Keywords: sustainable development; financing instruments; financing sources; emerging economies; Uruguay (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:11:y:2019:i:4:p:1059-:d:206851

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