This research reveals a positive correlation between governance and sustainable development in developing countries, suggesting key policy implications.
Key Points
Governance and sustainable development are positively related, indicating a reciprocal influence between the two.
Findings show that tax-to-GDP ratio and financial development significantly impact sustainable development.
Panel GMM and 3SLS methodologies were utilized to analyze annual data from 2006 to 2022 across 59 developing countries.
Policy recommendations highlight the importance of enhancing government quality and transparency to reduce disparities.