Fostering economic development and sustainability: insights into the role of regulatory quality and e-commerce legislation in future technologies

Purpose This study aims to examine how specific regulatory indicators – such as regulatory quality, information and communications technology regulatory environment, regulation of emerging technologies, e-commerce legislation and privacy protection by law content – affect the economic outcomes, quality of life and sustainable development goals associated with future technologies, including artificial intelligence, robotics, big data analytics, cloud computing and app- and web-enabled markets. Design/methodology/approach Using Bayesian Belief Network models and Network Readiness Index 2023 data from 134 countries, this study explores the relationships between regulatory factors and various socioeconomic outcomes. Findings Regulatory quality and e-commerce legislation emerge as central determinants, directly or indirectly impacting economic development, societal well-being and sustainability objectives. Notably, regulatory quality is identified as a pivotal factor across all outcomes, emphasizing the critical role of effective regulatory frameworks in fostering positive outcomes. Research limitations/implications The study relies on cross-sectional data, which restricts causal inference, and focuses on national-level data, potentially overlooking subnational variations. In addition, the use of secondary data sources introduces possible measurement errors and biases. Despite these constraints, the study offers valuable insights into regulatory strategies and their role in advancing economic and social outcomes. Originality/value The study highlights the importance of tailoring regulatory interventions to address specific needs and challenges faced by countries at different stages of development. The findings provide valuable insights for policymakers, regulatory authorities and stakeholders seeking to navigate the regulatory challenges and opportunities inherent in the era of rapid technological advancement. The study contributes to advancing the understanding of the complex interplay between regulation, technology and development outcomes in the contemporary global landscape.