International Journal of Human Capital in Urban Management
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Monetary stability and its role in SDG implementation: Identifying socio-economic and renewable energy challenges in G20 countries

Document Type : ORIGINAL RESEARCH ARTICLE

Authors

N. Prawoto 1
A. T. Basuki 1
A. Munifatussaidah 2
I. Q. Ayun 3

1 Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta, Special Region of Yogyakarta, Indonesia

2 Faculty of Economics and Business, Universitas Gadjah Mada, Special Region of Yogyakarta, Indonesia

3 Faculty of Economics and Business, Universitas Ahmad Dahlan, Special Region of Yogyakarta, Indonesia

https://doi.org/10.22034/IJHCUM.2025.04.05
Abstract
BACKGROUND AND OBJECTIVES: The Sustainable Development Goals show the development goals that would determine the needs of future generations. This research intends to look at the role of monetary stability and exchange rates on the main pillars of the Sustainable Development Goals.
METHODS: The research uses panel data regression techniques on secondary data sourced from the Sustainable Development Goals, World Bank, International Monetary Fund, and Organization for Economic Co-operation and Development data in the Group of Twenty countries from 2010-2022. The model assesses the relationship between monetary stability toward the economic, social, and environmental pillars of the Sustainable Development Goals.
FINDINGS: The findings show that monetary stability significantly affects all tested variables, with Gross Domestic Product per capita (β = 15.302; r = 0.000), unemployment (β = -0.755; r = 0.000), trade openness (β = 110.078; r = 0.000), poverty (β = 16.566; r = 0.000), GINI Index (β = 0.436; r = 0.000), carbon emissions (β = -3.242; r = 0.000), and renewable energy usage (β = -34.739; r = 0.000) is negatively influenced, thus supporting each hypothesis. This suggests monetary stability has dominant direct economic and environmental impacts.
CONCLUSION: The implications to be brought forward by this research are expected to empirically represent a solution to the challenges in accomplishing the three primary pillars of the Sustainable Development Goals from the standpoint of exchange rate stability and macroeconomic monetary policy.
 

Keywords

Monetary stability
Socio-economic
Renewable energy
SDGs
G20
Subjects

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  • Receive Date 12 December 2024
  • Revise Date 22 March 2025
  • Accept Date 16 May 2025

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