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<p>This study explores how economic freedom, governance, fintech innovation, entrepreneurship, and financial inclusion influence sustainable development in G20 economies. Grounded in Institutional and Endogenous Growth Theories, it uses panel data from 2001 to 2023 (sourced from the World Bank, GEM, and UNDP) and employs Structural Equation Modelling (SEM) via SmartPLS 4. Results reveal that governance and economic freedom significantly enhance sustainability, while regulatory barriers can limit entrepreneurial activity. Surprisingly, fintech and financial inclusion face challenges due to regulatory and digital infrastructure gaps. However, perceived entrepreneurial capabilities and strong digital infrastructure positively moderate the relationship between entrepreneurship and sustainability. The findings underscore the need for balanced governance, strategic investment in digital infrastructure, and policies that foster financial access and entrepreneurial skills. These insights provide actionable direction for aligning innovation-driven economic growth with sustainability goals across G20 nations.</p>

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Threads of Freedom, Codes of Innovation: Governance’s Loom in the G20’s Sustainability Tapestry

  • 期刊论文

  • 发表日期：

    2026年2月18日

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  • Y Navin,
  • Lakshmana Rao Ayyagari,
  • Anusha Rajan,
  • Nothera R Marak

摘要

This study explores how economic freedom, governance, fintech innovation, entrepreneurship, and financial inclusion influence sustainable development in G20 economies. Grounded in Institutional and Endogenous Growth Theories, it uses panel data from 2001 to 2023 (sourced from the World Bank, GEM, and UNDP) and employs Structural Equation Modelling (SEM) via SmartPLS 4. Results reveal that governance and economic freedom significantly enhance sustainability, while regulatory barriers can limit entrepreneurial activity. Surprisingly, fintech and financial inclusion face challenges due to regulatory and digital infrastructure gaps. However, perceived entrepreneurial capabilities and strong digital infrastructure positively moderate the relationship between entrepreneurship and sustainability. The findings underscore the need for balanced governance, strategic investment in digital infrastructure, and policies that foster financial access and entrepreneurial skills. These insights provide actionable direction for aligning innovation-driven economic growth with sustainability goals across G20 nations.