Framework for the Development and Governance of Strategies Promoting Sustainable Economic Growth

Abstract

Despite the increasing emphasis on sustainable economic growth, current literature reveals significant fragmentation in approaches and frameworks, often addressing only individual aspects such as environmental, social, governance, economic, or digital factors without integrating them into a cohesive strategy. This lack of a unified framework contributes to the ambiguity and challenges in formulating and implementing effective sustainable economic growth strategies. To address this gap, this research proposes a comprehensive Sustainable Economic Growth frame of reference that integrates these diverse factors. By conducting a systematic review and comparative analysis of existing literature, this study identifies the common building blocks essential for sustainable economic growth. The suggested framework highlights the pivotal role of digital transformation in advancing sustainability and economic efficiency, while simultaneously integrating environmental, social, governance, and economic factors. This comprehensive approach seeks to offer a clear, flexible guide for policymakers, industry stakeholders, and scholars to effectively formulate and manage sustainable economic growth strategies.