Reuben College, University of Oxford, Oxford, OX2 6HW, United Kingdom.
Department of Economics, Division of Management and Administrative Science, University of Education, Lahore, Pakistan; Higher Education Department, Government of Punjab, Pakistan.
J Environ Manage. 2024 Nov;370:122783. doi: 10.1016/j.jenvman.2024.122783. Epub 2024 Oct 11.
Amidst the pursuit of sustainable development and economic prosperity, there has been growing criticism directed towards traditional metrics such as GDP because of their narrow focus on societal well-being and environmental considerations. Therefore, our study shifts its focus from GDP to a more comprehensive measure of wealth, known as inclusive wealth. Our objective is to investigate how technology contributes to the advancement of inclusive wealth encompassing produced, natural, and human capital. We centred our analysis on the top seven emerging economies (E-7) and utilized data from the period of 1998-2022. Employing Fully Modified Least Squares (FMOLS), we develop four distinct models to examine the impact of technology on its various components and overall inclusive wealth. We also checked the robustness of our results by employing Cross-Sectionally Augmented Autoregressive Distributed Lag (CS-ARDL) model. Our findings reveal that technological advancement has a positive effect on each component of inclusive wealth, including produced capital, human capital and natural capital. Additionally, our results indicate a favourable impact of technological progress on overall inclusive wealth. These results emphasize the importance of incorporating technology into strategies for sustainable development and inclusive wealth.
在追求可持续发展和经济繁荣的过程中，由于传统的 GDP 等指标对社会福祉和环境因素的关注过于狭隘，它们受到了越来越多的批评。因此，我们的研究将重点从 GDP 转移到更全面的财富衡量标准，即包容性财富。我们的目标是研究技术如何为包含生产性资本、自然资本和人力资本的包容性财富的增长做出贡献。我们以七大新兴经济体(E-7)为分析对象，利用 1998-2022 年的数据。我们采用全修正最小二乘法(FMOLS)构建了四个不同的模型，以考察技术对其各个组成部分和整体包容性财富的影响。我们还通过使用横截面增强自回归分布滞后模型(CS-ARDL)来检验结果的稳健性。我们的研究结果表明，技术进步对包容性财富的各个组成部分都有积极的影响，包括生产性资本、人力资本和自然资本。此外，我们的研究结果表明，技术进步对整体包容性财富有积极影响。这些结果强调了将技术纳入可持续发展和包容性财富战略的重要性。
