Impacts of Macroeconomic Indicators, Corruption and Corporate Governance on Sustainable Development Goals: The Case of Southeast Asia

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dc.contributor.authorNattapan Tantikul
dc.contributor.authorWanvitu Soranarak
dc.contributor.correspondenceW. Soranarak; Faculty of Management Science, Suan Dusit University, Bangkok, 10300, Thailand; email: wanvitu.sor@gmail.com
dc.date.accessioned2025-03-10T07:34:21Z
dc.date.available2025-03-10T07:34:21Z
dc.date.issued2024
dc.description.abstractThe main objective of this study is to investigate the impacts of macroeconomic indicators, corruption, and country-level corporate governance on the achievement of Sustainable Development Goals (SDGs), a set of global objectives agreed upon by all United Nations (UN) member states in 2015 as part of the UNs 2030 Agenda, which aims to create a better world. This study analyzed data from seven Southeast Asian countries (Cambodia, Malaysia, Indonesia, Singapore, Thailand, the Philippines, and Vietnam) and four additional Asian countries outside the region, namely Japan, South Korea, China, and India, covering the period from 2007 to 2019. Panel data techniques, such as feasible generalized least squares (FGLS) regressions, were employed to test the research hypotheses. The findings revealed that macroeconomic indicators, specifically the unemployment rate and inflation rate, negatively impacted SDG achievement, whereas country-level corporate governance positively influenced SDGs. Additionally, countries with lower corruption levels and more developed economies were found to have higher SDG scores. Furthermore, a comparison between the pre-and post-2015 UN adoption of SDGs, showed that all sampled countries improved their SDG scores, particularly in meeting the targets related to social inclusion, economic growth, and environmental protection. Finally, the results indicated that country-level corporate governance could moderately mitigate the negative effect of the inflation rate on SDGs. This paper contributes to the literature and practice by providing evidence that in Southeast Asian countries, the unemployment rate, inflation rate, corruption, and country-level corporate governance significantly influence SDG achievement. Moreover, country-level corporate governance can alleviate the adverse effect of at least one macroeconomic indicator on SDGs achievement. © 2024, Research and Development Institute Suan Dusit University. All rights reserved.
dc.identifier.citationJournal of Multidisciplinary in Social Sciences
dc.identifier.issn26730235
dc.identifier.scopus2-s2.0-85202890737
dc.identifier.urihttps://repository.dusit.ac.th//handle/123456789/4497
dc.languageEnglish
dc.publisherResearch and Development Institute Suan Dusit University
dc.rights.holderScopus
dc.subjectCorruption
dc.subjectCountry-level Corporate Governance
dc.subjectMacroeconomic Indicators
dc.subjectSustainable Development Goals (SDGs)
dc.titleImpacts of Macroeconomic Indicators, Corruption and Corporate Governance on Sustainable Development Goals: The Case of Southeast Asia
dc.typeArticle
mods.location.urlhttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85202890737&partnerID=40&md5=729af96027ec5075ba41b98ea07e6c8c
oaire.citation.endPage14
oaire.citation.issue2
oaire.citation.startPage1
oaire.citation.volume20
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