Forestry and Governance as Two Pillars of Sustainable Development: Empirical Verification

Bilal Mehmood, Mohsin Raza and Abida Ramzan

Sustainable Business and Society in Emerging Economies, 2022, vol. 4, issue 2, 573-580

Abstract: Purpose: One of the most common global concerns is Sustainable development for last three decades. For it, good governance of forestry can play a significant role. Accordingly, current paper empirically analyzes their relationship.Design/Methodology/Approach: An index of Sustainable development is built. Then the data of forest area and governance indicator for period 2005-2019 for 128 countries, is subjected to estimation. In regression analysis, system generalized method of moments (SYS-GMM) is used for dynamic panel data specification, which can cater the issue of endogeneity in micro panels. Additionally, sample is bifurcated into developed countries and developing countries for segregated estimates.Findings: Empirical results reveal positive effect of forestry and effective governance on sustainable development index.Implications/Originality/Value: Recommendations include improving the governance practices and adoption of contemporary forms of forest management.

Keywords: Forestry; Sustainable Development; Governance; System Generalized Method of Moments (Sys-Gmm) (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:src:sbseec:v:4:y:2022:i:2:p:573-580

DOI: 10.26710/sbsee.v4i2.2421

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