This study developed a global sustainable development index (GSDI), economic development index (EDI), social development index (SDI), environmental sustainability index (ESI), science and technological development index (STDI), entrepreneurship ecosystem index (EEI), and green entrepreneurship ecosystem index (GEI) for 34 countries during 2000–2019. Composite Z-score method was used to develop EDI, SDI, ESI, STDI, EEI, and GEI. It also observed the interaction among the estimated indexes using linear regression models.
Top1. Introduction
At present, the global economies are facing several challenges in maintaining environmental development due to high population growth, urbanisation, industrialisation, infrastructure development, modernisation of the agricultural sector, and anthropogenetic activities (Singh et al., 2019; Ivleva et al., 2019). Most economies focus on achieving high economic growth (Singh et al., 2020). In the era of globalisation, most countries use extensive natural resources and ecosystem services to maintain their production scale. The demand for goods and services has increased worldwide due to high population growth and change in consumption pattern of people. High population growth is caused to increase urbanisation, infrastructure development, and pressure on ecosystem services. Subsequently, population growth, urbanisation, and industrialisation have negative impact on environmental development (Singh et al., 2021). Agriculture is the sole sector to meet the food demand of the global population (Kumar et al., 2017; Singh & Issac, 2018; Singh & Kumar, 2022a). This sector's production activities require more ecosystem services to feed the present and growing population (Singh & Kumar, 2022a). High population growth is also caused to increase additional pressure on the government to create jobs for the growing population in all sectors. The agricultural sector provides seasonal jobs to unskilled workers, while, the service sector provides jobs to the skilled workforce. The industrial sector is highly likely to generate jobs for the skilled and unskilled workforce (Singh et al., 2019b).
Accordingly, most countries are executing their policies to increase high industrialisation while giving less attention to environmental development (Singh et al., 2019a). Industrialisation is highly supportive to increase economic development, social development and science & technological development (Singh & Singh, 2020). Science & technological development is also helpful in creating innovation, an entrepreneurship ecosystem, business opportunities, new goods and products, new markets and employment (Singh & Kumar, 2022b). The entrepreneurship ecosystem is also helpful for nurturing new business opportunities, innovation, ventures and start-ups, which are helpful to increase social-economic development (İyigün, 2015). Accordingly, it also positively impacts economic development and economic growth (Wennekers et al., 2010; Chen, 2014; Singh & Ashraf, 2020).
Furthermore, industrial development pays less attention to environmental development, which is considered a crucial component of sustainable development. Economic development, social development and science & technological development are also essential drivers of sustainable development (Singh & Kumar, 2022c). Hence, sustainable development has a multi-dimensional association with environmental economic, social and science & technological development (Drastichová, 2014; Armeanu et al., 2018; Omisore, 2018; Singh et al., 2021; Singh & Kumar, 2022b). Sustainable development ensures sustainability in resources, leading sustainability in resources, leading to increase economic, social, environmental, science & technological development. Hence, sustainability is associated with the triple bottom line, which is essential to increasing sustainable development (İyigün, 2015; Roomi et al., 2020; Sridhara et al., 2022). Sustainable development is the development that meets the needs of the present without compromising the ability of future generations to meet their needs (U.N. Brundtland Report, 1987). It emphasises social justice, human development and social development. Later on, sustainable development is defined in the context of different sectors such as sustainable food security, sustainable entrepreneurship, sustainable agricultural development, environmental sustainability and sustainable livelihood security (İyigün, 2015; Singh et al., 2019a; Singh et al., 2020; Singh et al., 2021; Sridhara et al., 2022; Singh & Kumar, 2022a).