Dynamic effect of external financing on the achievement of eco-efficiency and sustainable development objectives
DOI:
https://doi.org/10.23925/2179-3565.2024v15i4p72-89Palabras clave:
External Finance, Eco-efficiency, Sustainable Development GoalsResumen
United Nations Agenda 2030 is a call to action for global issues, and sustainability is a challenge that faces everyone. The primary objective of this research is to offer first-hand insights about external financing for sustainability. In order to calculate the impact of foreign financing on eco-efficiency, the Sustainable Development Goals, and the Social, Economic, and Environmental Development of 46 Asian countries between 2000 and 2021, the study used auto-regressive distributed lag (ARDL) models. The estimation's results showed foreign direct investment failed to significantly impact any of the five models over the short- or long-term, remittances, official development assistance, foreign debt, and restriction are useful indicators for advancing social, economic, environment development toward eco-efficiency and sustainable development goals. Study also indicated Sustainable development Goals and Social Development is more significant as compare to other three Models eco-efficiency, economic and environment development during short run and long run. Further indicated South Eastern Asia and East Asia Region Countries have strong requirement of External finance as compare to other Asian regions and external finance was highly significant relationship with eco-efficiency and Sustainable Development Goals in short run and long run during 2000 to 2021. Study recommendations are cleared; Government’s systems should be designed as UN Agenda-2030 that supporting direction toward World future Sustainability.
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