Abstract Empowering Sustainable Human Development and Economic Growth: Evidence from Developing World

Xin Guo (), Haoran Liu (), Sardar Fawad Saleem () and Radu Alexandru Budu ()
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Xin Guo: Business School of Anyang Institute of Technology, Anyang, 455000, P.R. China.
Haoran Liu: School of Dornsife arts and sciences, University of Southern California, California 90007, United State of America.
Sardar Fawad Saleem: Department of Economics, Abbottabad University of Science and Technology, Abbottabad, Pakistan.
Radu Alexandru Budu: Bucharest Academy of Economic Studies

Journal for Economic Forecasting, 2024, issue 2, 32-49

Abstract: Promoting human development and economic growth in tandem with sustainable practices progress towards long-term sustainable development. This study examines the refined interactions that affect human development (HD) and economic progress (GDP) in developing nations. The study uses panel data from 30 developing countries from 2001 to 2022 to examine how energy availability, climate change, governance, ICT, clean fuels and technology access, green innovation, health and education expenditures, and renewable energy use affect HD and GDP. The findings show relationships, including the negative influence of governance on HD and GDP, the positive effect of governance interacting with energy efficiency on both HD and GDP, and the varied impacts of factors like energy availability, clean technologies, and GDP. Notably, green innovation technologies exhibit a particulary profound positive impact on both HD and GDP. The evidence indicates that public spending on health and education has a positive, yet moderate, impact both on HD and GDP. Policy implications highlight the critical need to bolster governance for improved human development and economic growth in the developing world, alongside fiscal expenditure and investments in clean energy and innovation to drive sustainable progress.

Keywords: Human development; economic growth; sustainable development; developing nations; energy availability; green innovation (search for similar items in EconPapers)
JEL-codes: I38 Q01 Q43 (search for similar items in EconPapers)
Date: 2024
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