Sustainable development spillover effects between North America and MENA: Analyzing the integrated sustainability perspective
2022
Mohamad Taghvaee, Vahid | Assari Arani, Abbas | Agheli, Lotfali
It remains an aura of ambiguity if globalization and openness resulted from the UN platform are helpful for the global sustainability or against it. This study aims to reveal if the effect of globalization and openness on sustainability of MENA and North America is negative or positive. Our study employs a SEY model as a package of Simultaneous Equations System, Vector AutoRegressive (VAR) and Granger Causality approaches during 1971–2016, to estimate the sustainable development spillover effects (or sustainability elasticities) between MENA and North America. According to the results, the sustainability elasticities are positive between MENA and North America, showing synergetic nature of sustainability spillover effects. According to the dominant and positive spillover effects, this study claims that the relationships between MENA and North America are synergistic, not trade-off. It implies that the countries in MENA and North America should develop their relationships in a peaceful environment via regional agreements, unions and openness. Therefore, our findings support the unique agenda of the UN about SDGs for progressing the global sustainable development, especially SDG 16 (Peace, justice and strong institutions) and SDG 17 (Partnership for the goals). In this way, our study for the first time confirms a new perspective integrated sustainability by adding a 4th pillar of spillover effect to the traditional pillars of social, environment, and economy.
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