Advances in Consumer Research
Issue 2 : 412-422
Original Article
Development, Sustainability, Equality and Environment: A Growth and Wellbeing Driven Analysis of Top Five Countries In The World
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1
Associate Professor, IPS Academy, Institute of Business Management and Research, Indore, M.P.
2
Associate Professor, IPS Academy, Institute of Business Management and Research Indore, M.P.
3
Assistant Professor, IPS Academy, Institute of Business Management and Research Indore, M.P.
Abstract

Purpose: This paper aims to establish the impact of Growth on Sustainability in the world's Top five Economies according to Gross Domestic Product and validate a two-way causality between growth and sustainability parameters.

Methodology: The methodology involves Linear Regression, the ordinary least square method. Vector Auto regression model (VAR) followed by Granger causality Wald test (GC) to evaluate the causality between GDP and Sustainability parameters.

Findings: The primary findings portray the impact of growth on the environment and equality is both positive and negative which is country-specific. When estimating lagged relationships with VAR, growth has an impact on equality and environment, and equality and environment have an effect on growth hence there exists a two-way causality.

Practical Implications: Sustainability is an integral part of the development of countries and it should be more independent in a country and eventually be self-driven. Findings provide a comprehensive image of how growth has impacted sustainability parameters like equality and environment in developed and developing countries that are among the top in the world. The optimum lag length of 3 years found in vector autoregression also suggests the visible impact of growth on sustainability parameters.

Originality: Unlike prior research on growth and development, the present work included the added dimension of well-being through sustainability, equality, and the environment of countries demonstrating massive growth in the world. It is contributing to the much debated and important issue of development of countries along with growth.

Keywords
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