1st Global Conference on Accounting, Commerce and Business Management (GCACBM)

Abstract Template – Writing and Formatting Guidelines
  • The abstract should reflect the aim, scope, methodology, key findings, and implications of the study and be between 200–300 words.
  • The abstract can be uploaded in un-structured or structured format.
  • The text must be written in Times New Roman, 12-point font.
  • Page margins (top, bottom, left, and right) must be set to 2.5 cm.
  • No extra spacing should be added between paragraphs.
  • Three to five keywords representing the study should be provided.
  • An English title, English abstract, and English keywords are mandatory.
  • The English title must be written in Times New Roman, 12-point, and in bold.
  • Abstract files must be submitted only in Word format (.doc/.docx).
  • Abstracts must be uploaded through the online submission system of the congress.
  • Contact information provided is used solely for communication during the congress process and will not appear in the proceedings.
  • *** Please remember to include keywords.
Building Sustainable Future: Investigating Governance, Public Spending, and Sustainable Development Nexus in Developed Countries

Muhammad Hassan Danish

Assistant Professor Economics, School of Commerce and Accountancy-University of Management and Technology, Lahore-Pakistan

Address: C-II Johar Town, Lahore-Pakistan

Email: [email protected]

ORCID (If Available): 0000-0001-9031-3614

Ayesha Siddiqa

Department of Economics and Quantitative Methods, Hassan Murad School of Management- University of Management and Technology, Lahore-Pakistan

Address: C-II Johar Town, Lahore-Pakistan

Email: [email protected]

Abstract

It is generally agreed that achieving sustainable development depends on good governance and the effective allocation of funds. Thus, this paper aims to examine the nexus of governance, public spending, and sustainable development in the case of developed countries. The appropriate econometric methodology for panel data analysis has been selected based on endogeneity, in addition to small T and larger N. The data contain a panel of 34 countries for 17 years (2006-2022), where N=34 is larger than T=17. For this purpose, the panel Generalized Method of Moments (GMM) is a suitable methodology for analysis. Panel 3SLS is used to capture unobserved heterogeneity and for the robustness check. The empirical findings show a positive and significant impact of governance and public spending on SD. The outcomes indicate that governance and SD have a significant impact on public spending. Public spending has a negative impact on governance, whereas SD has a significant impact on governance. It suggests that developed countries should focus on eliminating expenditure trends directed towards political elites and unproductive subsidies, all of which undermine the effectiveness of the governance structure. Governments should establish more powerful auditing mechanisms and regulatory organizations so that funds are spent effectively and to enhance strong governance structures.

Keywords: Governance index; Public spending; Sustainable development; Financial development; Panel GMM; Panel 3SLS