The role of economic policies in achieving sustainable development goal 7: Insights from OECD and European countries

Abstract

The literature widely recognizes the importance of effective economic policies in achieving Sustainable Development Goal 7 (SDG 7). However, existing research fails to examine how these policies synergistically affect the achievement of SDG 7 targets. This paper addresses this gap by conducting a configurational analysis to identify various combinations of economic policies through which countries can reach SDG 7 targets. Drawing on empirical evidence from 41 OECD and European countries, the findings suggest that governments must (1) enhance coherence of their economic policies through collaboration among and within government bodies, (2) promote prosperity and innovation opportunities by fostering inclusive labor markets, and (3) implement international financial regulations to facilitate energy investments. Policymakers can utilize these findings to identifying key policy levers, enhance innovation in policy making, and develop appropriate strategies for achieving sustainable development goals. Show more