Comput Econ. 2022 Sep 19:1-19. doi: 10.1007/s10614-022-10302-1. Online ahead of print.
This paper measures the impact of multi-market institutions, renewable energy consumption, and infrastructure on sustainable development in 76 selected countries over the period 2000-2015. To this end, we applied a dynamic Ordinary Least Square method with fixed effects, which has the advantage of further addressing cross-section heterogeneity in the sample. Our findings contribute two significant findings to the literature. First, we point to the importance of multi-market institutions in driving sustainable development. Second, we find that renewable energy, economic and social infrastructure can boost sustainable development, while financial infrastructure has a reverse effect. This finding is useful to target the most effective drivers for sustainable development.