Financial Development and Sustainable Development: Evidence from Asia
DOI:
https://doi.org/10.63062/trt/WR25.058Keywords:
Sustainable Development, Financial Development, South Asian Countries, Trade, Foreign Direct Investment (FDI), OLS Regression MethodAbstract
The objective of this research is to forecast sustainable development within South Asian countries from 2009 to 2021. Employing endogenous theory, the study examines how financial development facilitates sustainable economic development through trade, foreign direct investment (FDI), and tourism. The ordinary least squares (OLS) regression method is utilized to analyze this relationship. This research underlines the essential role of robust financial institutions and sound regulation in promoting financial growth to achieve sustainable economic growth and builds on current understandings of the intricate connection between these factors. The study explores the relationship between financial growth and sustainable development in South Asian countries. The conclusions drawn from the analysis highlight the synergy between economic sustainability and environmental well-being. By aligning the financial sector with sustainable development goals, the region could lay the groundwork for enduring economic stability and enhance living standards. Important lessons about fostering sustainable economic growth and formulating effective policies could be gleaned from this investigation by policymakers and practitioners. The findings also have implications for the environment.
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Copyright (c) 2025 Sidra Waheed, Dr. Ammara Mubashar, Shoaib Ghulam, Nayab Fatima, Dr. Shahzad Hussain
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