COMPETITIVENESS AND SUSTAINABLE DEVELOPMENT: A PANEL DATA STUDY FOR LATIN AMERICA
DOI:
https://doi.org/10.37135/kai.03.12.02Keywords:
competitiveness, sustainable development, innovation, panel dataAbstract
The purpose is to identify the influence of the ecosystem on competitiveness and sustainable development, considering variables specific to the social, economic and environmental dimensions. Using a panel data analysis for Latin American countries, with fixed and random effects, to be selected through the Hausman test, the relationship between the sustainable development index, the environmental variables (CO2 emissions) and the pillars of the competitiveness. The results indicate that sustainability is explained by institutions, education, financial development and innovation; while CO2 emissions are affected by infrastructure, the macroeconomic environment, education, financial development, market size and innovation. In the region, improvements are evident in the social and economic dimension of sustainable development, but not in the reduction of CO2 emissions and material footprint. From these findings it can be concluded that the pillars of competitiveness have a positive impact on the sustainability index, while CO2 emissions show an inverse relationship with macroeconomic stability
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