EUROPEAN JOURNAL OF SUSTAINABLE DEVELOPMENT RESEARCH
Research Article

Global Finance, Competitiveness, and Sustainable Development Goals in Emerging and Least Developing Economies (ELDCs): A Review of Literature

European Journal of Sustainable Development Research, 2020, 4(3), em0125, https://doi.org/10.29333/ejosdr/7899
Full Text (PDF)

ABSTRACT

This paper aims to provide a healthy review of literature on the global imperativeness of the term global finance and competitiveness to achieve Sustainable Development Goals (SDGs). We employed a content analysis method to significantly explore the impact of global finance on financing for sustainable development (FSD) through competitiveness. What are the lessons for ELDCs? From the reviewed literature, we observe that global financing causes a dual impact on competitiveness through the Real Effective Exchange Rate (REER) effects. The study found that global FSD on the informal sector, social and environmental factors, as well as human development, is unarguably silent. Also, there is the multiplicity of function in the global financing mix. From the literature reviewed, we observed a positive link between SDGs, global finance, and competitiveness. SDGs differ across countries because the financing approach on competitiveness differs across countries. Thus, to achieve SDGs in ELDCs, global responses should be developed around improving internal and external competitiveness. These two types of competitiveness would be encompassing. Global financing should be directed to exploring economic, social, and environmental quality in internal and external competitiveness in ELDCs. This classification would deepen the World Economic Forum (WEF) GCI 4.0 based on innovative, efficiency and factors element. Thus inclusive growth and sustainable development could be strengthened through the application of internal and external competitiveness policies that would holistically upgrade the industrial and manufacturing competitiveness frontiers and gains from the global market share frontiers to accelerate SDGs in ELDCs.

KEYWORDS

competitiveness global finance ELDCs internal competitiveness external competitiveness Sustainable Development Goals (SDGs) Financing for Sustainable Development (FSD)

CITATION (APA)

Onuchuku, O., & Amaefule, C. (2020). Global Finance, Competitiveness, and Sustainable Development Goals in Emerging and Least Developing Economies (ELDCs): A Review of Literature. European Journal of Sustainable Development Research, 4(3), em0125. https://doi.org/10.29333/ejosdr/7899
Harvard
Onuchuku, O., and Amaefule, C. (2020). Global Finance, Competitiveness, and Sustainable Development Goals in Emerging and Least Developing Economies (ELDCs): A Review of Literature. European Journal of Sustainable Development Research, 4(3), em0125. https://doi.org/10.29333/ejosdr/7899
Vancouver
Onuchuku O, Amaefule C. Global Finance, Competitiveness, and Sustainable Development Goals in Emerging and Least Developing Economies (ELDCs): A Review of Literature. EUR J SUSTAIN DEV RES. 2020;4(3):em0125. https://doi.org/10.29333/ejosdr/7899
AMA
Onuchuku O, Amaefule C. Global Finance, Competitiveness, and Sustainable Development Goals in Emerging and Least Developing Economies (ELDCs): A Review of Literature. EUR J SUSTAIN DEV RES. 2020;4(3), em0125. https://doi.org/10.29333/ejosdr/7899
Chicago
Onuchuku, Okechuku, and Chukwuemeka Amaefule. "Global Finance, Competitiveness, and Sustainable Development Goals in Emerging and Least Developing Economies (ELDCs): A Review of Literature". European Journal of Sustainable Development Research 2020 4 no. 3 (2020): em0125. https://doi.org/10.29333/ejosdr/7899
MLA
Onuchuku, Okechuku et al. "Global Finance, Competitiveness, and Sustainable Development Goals in Emerging and Least Developing Economies (ELDCs): A Review of Literature". European Journal of Sustainable Development Research, vol. 4, no. 3, 2020, em0125. https://doi.org/10.29333/ejosdr/7899

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