IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v11y2019i4p1059-d206851.html
   My bibliography  Save this article

The Financing Framework for Sustainable Development in Emerging Economies: The Case of Uruguay

Author

Listed:
  • Nicolás Gambetta

    (Facultad de Administración y Ciencias Sociales, Universidad ORT Uruguay, Bulevar España 2633, 11300 Montevideo, Uruguay)

  • Paula Azadian

    (Facultad de Administración y Ciencias Sociales, Universidad ORT Uruguay, Bulevar España 2633, 11300 Montevideo, Uruguay)

  • Victoria Hourcade

    (Facultad de Administración y Ciencias Sociales, Universidad ORT Uruguay, Bulevar España 2633, 11300 Montevideo, Uruguay)

  • María Elisa Reyes

    (Facultad de Administración y Ciencias Sociales, Universidad ORT Uruguay, Bulevar España 2633, 11300 Montevideo, Uruguay)

Abstract

This paper explores the financing framework for sustainable development in Uruguay, an emerging economy, and examines whether available financing instruments contribute to achieving the sustainable development goals (SDGs) in which significant progress is still required in this country. Reports, policy documents and academic literature were reviewed to determine the types of sustainable development financing instruments available, and to analyse the challenges facing emerging economies in this regard. In addition, the financing programmes available from the public sector, non-governmental organisations (NGOs), the financial sector and multilateral credit agencies were examined. The results obtained show that the main financing sources for sustainable development are located within the public sector due to the absence of a developed financial market, and that the existing financial instruments do not address the SDGs where most attention is required. The latter circumstances make it challenging to achieve these SDGs in Uruguay. The study findings highlight the need for greater coordination among all parties to make efficient use of the scarce resources available to an emerging economy and thus enable it to meet its SDGs.

Suggested Citation

  • Nicolás Gambetta & Paula Azadian & Victoria Hourcade & María Elisa Reyes, 2019. "The Financing Framework for Sustainable Development in Emerging Economies: The Case of Uruguay," Sustainability, MDPI, vol. 11(4), pages 1-24, February.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:4:p:1059-:d:206851
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/11/4/1059/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/11/4/1059/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Chris Dickens & Vladimir Smakhtin & Matthew McCartney & Gordon O’Brien & Lula Dahir, 2019. "Defining and Quantifying National-Level Targets, Indicators and Benchmarks for Management of Natural Resources to Achieve the Sustainable Development Goals," Sustainability, MDPI, vol. 11(2), pages 1-15, January.
    2. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
    3. Dickens, Chris & Smakhtin, V. & McCartney, Matthew & O’Brien, G. & Dahir, L., 2019. "Defining and quantifying national-level targets, indicators and benchmarks for management of natural resources to achieve the sustainable development goals," Papers published in Journals (Open Access), International Water Management Institute, pages 11(2):1-15..
    4. Horn, Philipp & Grugel, Jean, 2018. "The SDGs in middle-income countries: Setting or serving domestic development agendas? Evidence from Ecuador," World Development, Elsevier, vol. 109(C), pages 73-84.
    5. Mark Elder & Magnus Bengtsson & Lewis Akenji, 2016. "An Optimistic Analysis of the Means of Implementation for Sustainable Development Goals: Thinking about Goals as Means," Sustainability, MDPI, vol. 8(9), pages 1-24, September.
    6. Ibrahim Ari & Muammer Koc, 2018. "Sustainable Financing for Sustainable Development: Understanding the Interrelations between Public Investment and Sovereign Debt," Sustainability, MDPI, vol. 10(11), pages 1-25, October.
    7. Reinhard Steurer, 2010. "The role of governments in corporate social responsibility: characterising public policies on CSR in Europe," Policy Sciences, Springer;Society of Policy Sciences, vol. 43(1), pages 49-72, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Laura Zapata-Cantu & Fernando González, 2021. "Challenges for Innovation and Sustainable Development in Latin America: The Significance of Institutions and Human Capital," Sustainability, MDPI, vol. 13(7), pages 1-21, April.
    2. Serhiy Zabolotnyy & Mirosław Wasilewski, 2019. "The Concept of Financial Sustainability Measurement: A Case of Food Companies from Northern Europe," Sustainability, MDPI, vol. 11(18), pages 1-16, September.
    3. Maryati, Sri & Firman, Tommy & Humaira, An Nisaa Siti, 2022. "A sustainability assessment of decentralized water supply systems in Bandung City, Indonesia," Utilities Policy, Elsevier, vol. 76(C).
    4. Ahmad Saad & Guan Xinping & Mariah Ijaz, 2019. "China-Pakistan Economic Corridor and Its Influence on Perceived Economic and Social Goals: Implications for Social Policy Makers," Sustainability, MDPI, vol. 11(18), pages 1-20, September.
    5. Jianmu Ye & KMMCB Kulathunga, 2019. "How Does Financial Literacy Promote Sustainability in SMEs? A Developing Country Perspective," Sustainability, MDPI, vol. 11(10), pages 1-21, May.
    6. Ibrahim Ari & Muammer Koc, 2019. "Sustainable Financing for Sustainable Development: Agent-Based Modeling of Alternative Financing Models for Clean Energy Investments," Sustainability, MDPI, vol. 11(7), pages 1-34, April.
    7. María Antonia García-Benau & Nicolás Gambetta & Laura Sierra-García, 2021. "Financial Risk Management and Sustainability," Sustainability, MDPI, vol. 13(15), pages 1-4, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Michael Howes & Liana Wortley & Ruth Potts & Aysin Dedekorkut-Howes & Silvia Serrao-Neumann & Julie Davidson & Timothy Smith & Patrick Nunn, 2017. "Environmental Sustainability: A Case of Policy Implementation Failure?," Sustainability, MDPI, vol. 9(2), pages 1-17, January.
    2. Javier García López & Raffaele Sisto & Javier Benayas & Álvaro de Juanes & Julio Lumbreras & Carlos Mataix, 2021. "Assessment of the Results and Methodology of the Sustainable Development Index for Spanish Cities," Sustainability, MDPI, vol. 13(11), pages 1-29, June.
    3. Annamaria Di Fabio & Marc A. Rosen, 2020. "An Exploratory Study of a New Psychological Instrument for Evaluating Sustainability: The Sustainable Development Goals Psychological Inventory," Sustainability, MDPI, vol. 12(18), pages 1-19, September.
    4. Anna Martyka & Dorota Jopek & Izabela Skrzypczak, 2022. "Analysis of the Sustainable Development Index in the Communes of the Podkarpackie Voivodeship: A Polish Case Study," Sustainability, MDPI, vol. 14(16), pages 1-23, August.
    5. Most Asikha Aktar & Mu’ath Hesham Metlaq Al-Azzam & Md. Mahmudul Alam, 2021. "Fair Debts Management for Sustainable Development," Post-Print hal-03520105, HAL.
    6. Ralf Nordbeck & Reinhard Steurer, 2016. "Multi-sectoral strategies as dead ends of policy integration: Lessons to be learned from sustainable development," Environment and Planning C, , vol. 34(4), pages 737-755, June.
    7. Di Vaio, Assunta & Trujillo, Lourdes & D'Amore, Gabriella & Palladino, Rosa, 2021. "Water governance models for meeting sustainable development Goals:A structured literature review," Utilities Policy, Elsevier, vol. 72(C).
    8. Benedict Sheehy, 2015. "Defining CSR: Problems and Solutions," Journal of Business Ethics, Springer, vol. 131(3), pages 625-648, October.
    9. Alam, Gazi Mahabubul & Forhad, Abdur Rahman & Ismail, Ismi Arif, 2020. "Can education as an ‘International Commodity’ be the backbone or cane of a nation in the era of fourth industrial revolution? - A Comparative study," Technological Forecasting and Social Change, Elsevier, vol. 159(C).
    10. Justyna Maliszewska-Nienartowicz, 2020. "Accessibility for Persons with Disabilities as an Important Element of Economic and Social Development: The European Union Case," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 1), pages 1084-1099.
    11. Christopher Dickens & Matthew McCartney & David Tickner & Ian J. Harrison & Pablo Pacheco & Brown Ndhlovu, 2020. "Evaluating the Global State of Ecosystems and Natural Resources: Within and Beyond the SDGs," Sustainability, MDPI, vol. 12(18), pages 1-22, September.
    12. Raejung Lee & Jinho Kim, 2021. "Developing a Social Index for Measuring the Public Opinion Regarding the Attainment of Sustainable Development Goals," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 156(1), pages 201-221, July.
    13. Pascual Berrone & Joan Enric Ricart & Ana Isabel Duch & Valeria Bernardo & Jordi Salvador & Juan Piedra Peña & Miquel Rodríguez Planas, 2019. "EASIER: An Evaluation Model for Public–Private Partnerships Contributing to the Sustainable Development Goals," Sustainability, MDPI, vol. 11(8), pages 1-25, April.
    14. Oana Forestier & Rakhyun E. Kim, 2020. "Cherry‐picking the Sustainable Development Goals: Goal prioritization by national governments and implications for global governance," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(5), pages 1269-1278, September.
    15. You-Kyung Lee, 2020. "The Relationship between Green Country Image, Green Trust, and Purchase Intention of Korean Products: Focusing on Vietnamese Gen Z Consumers," Sustainability, MDPI, vol. 12(12), pages 1-15, June.
    16. Biggeri, Mario & Clark, David A. & Ferrannini, Andrea & Mauro, Vincenzo, 2019. "Tracking the SDGs in an ‘integrated’ manner: A proposal for a new index to capture synergies and trade-offs between and within goals," World Development, Elsevier, vol. 122(C), pages 628-647.
    17. Mechthild Donner & Anne Verniquet & Jan Broeze & Katrin Kayser & Hugo de Vries, 2021. "Critical success and risk factors for circular business models valorising agricultural waste and by-products," Post-Print hal-03004851, HAL.
    18. Cornelis Leeuwen & Jos Frijns & Annemarie Wezel & Frans Ven, 2012. "City Blueprints: 24 Indicators to Assess the Sustainability of the Urban Water Cycle," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 26(8), pages 2177-2197, June.
    19. CHEN, Helen S.Y., 2020. "Designing Sustainable Humanitarian Supply Chains," OSF Preprints m82ar, Center for Open Science.
    20. Jim Butcher, 2006. "The United Nations International Year of Ecotourism: a critical analysis of development implications," Progress in Development Studies, , vol. 6(2), pages 146-156, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:11:y:2019:i:4:p:1059-:d:206851. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.