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Impact of blue economy factors on economic growth in the SAARC countries

Impact of blue economy factors on economic growth in the SAARC countries This study aims to examine the influence of the blue economy factors on the economic growth of the South Asian Association for Regional Cooperation (SAARC) countries.Design/methodology/approachSecondary data from 1995 to 2018 have been used for the analysis of eight countries. The contributing factors that measure the fishing production are total aquaculture production, total fisheries production and agriculture, forestry and fishing. Trade and the rate of inflation are used as control variables. Using the feasible generalized least square technique.FindingsIt was found that the blue economy factors play a statistically significant role in the economic growth of SAARC countries and contribute to the achievement of Goal 14 of the United Nations’ sustainable development goals: to conserve and sustainably use the oceans, seas and marine resources for sustainable development.Originality/valueThis study highlights the fact that proper management and utilization of water resources may assist the stimulation of economic growth and meet the challenges of food insecurity by improving the supply of seafood in developing South Asian countries. The study proposes that the sustainable management of water resources requires an alliance across nation states. The alliance will be useful in understanding the concept of the blue economy and the role it plays in ensuring economic growth in developing nations throughout the world. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Maritime Business Review Emerald Publishing

Impact of blue economy factors on economic growth in the SAARC countries

Alharthi, Majed; Hanif, Imran
Maritime Business Review , Volume 5 (3): 17 – Jun 27, 2020
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References (57)

Publisher
Emerald Publishing
Copyright
© Pacific Star Group Education Foundation.
ISSN
2397-3757
DOI
10.1108/mabr-01-2020-0006
Publisher site
See Article on Publisher Site

Abstract

This study aims to examine the influence of the blue economy factors on the economic growth of the South Asian Association for Regional Cooperation (SAARC) countries.Design/methodology/approachSecondary data from 1995 to 2018 have been used for the analysis of eight countries. The contributing factors that measure the fishing production are total aquaculture production, total fisheries production and agriculture, forestry and fishing. Trade and the rate of inflation are used as control variables. Using the feasible generalized least square technique.FindingsIt was found that the blue economy factors play a statistically significant role in the economic growth of SAARC countries and contribute to the achievement of Goal 14 of the United Nations’ sustainable development goals: to conserve and sustainably use the oceans, seas and marine resources for sustainable development.Originality/valueThis study highlights the fact that proper management and utilization of water resources may assist the stimulation of economic growth and meet the challenges of food insecurity by improving the supply of seafood in developing South Asian countries. The study proposes that the sustainable management of water resources requires an alliance across nation states. The alliance will be useful in understanding the concept of the blue economy and the role it plays in ensuring economic growth in developing nations throughout the world.

Journal

Maritime Business Review – Emerald Publishing

Published: Jun 27, 2020

Keywords: Aquaculture and fishing; Blue economy; Economic growth; Fishing production; Gross domestic product

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