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Balancing national economic policy outcomes for sustainable development

Economics

Balancing national economic policy outcomes for sustainable development

M. Basheer, V. Nechifor, et al.

This research introduces a groundbreaking framework for designing national economic policies that align with the Sustainable Development Goals (SDGs). Conducted by Mohammed Basheer, Victor Nechifor, Alvaro Calzadilla, Claudia Ringler, David Hulme, and Julien J. Harou, the study showcases its practical application in Egypt, demonstrating how integrated policies can simultaneously tackle poverty, promote economic growth, and mitigate climate change impacts.... show more
Abstract
The 2030 Sustainable Development Goals (SDGs) aim at jointly improving economic, social, and environmental outcomes for human prosperity and planetary health. However, designing national economic policies that support advancement across multiple Sustainable Development Goals is hindered by the complexities of multi-sector economies and often conflicting policies. To address this, we introduce a national-scale design framework that can enable policymakers to sift through complex, non-linear, multi-sector policy spaces to identify efficient policy portfolios that balance economic, social, and environmental goals. The framework combines economy-wide sustainability simulation and artificial intelligence-driven multiobjective, multi-SDG policy search and machine learning. The framework can support multi-sector, multi-actor policy deliberation to screen efficient policy portfolios. We demonstrate the utility of the framework for a case study of Egypt by identifying policy portfolios that achieve efficient mixes of poverty and inequality reduction, economic growth, and climate change mitigation. The results show that integrated policy strategies can help achieve sustainable development while balancing adverse economic, social, and political impacts of reforms.
Publisher
Nature Communications
Published On
Aug 26, 2022
Authors
Mohammed Basheer, Victor Nechifor, Alvaro Calzadilla, Claudia Ringler, David Hulme, Julien J. Harou
Tags
economic policy
sustainable development
SDGs
machine learning
Egypt
poverty reduction
climate change
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