Enhancing governance efficiency and digital remittances for sustainable development

Under the growing threats of ecological deterioration, the topic of sustainable development is gaining momentum, and diverse efforts have been made regarding the accomplishment of sustainable development on the planet. Sustainable development is on top; therefore, governance advocates efficient planning and management of resources for sustainable development achievement. Good governance achievement, particularly in cases of sustainable development in the European Union (EU) part of the Eastern Bloc, is challenging compared to the Western Bloc. Sustainable development goals (SDGs, the 17-point agenda) and achievements to comply with international treaties (such as the Kyoto Protocol and the Paris Climate Agreement) are the themes of this research. Governance efficiency, digital remittances, financial development, and sustainable economic growth are the key factors that blubber the tillers of economic progress and development in a society. This study endeavors to probe the relationship between governance efficiency, digital remittances, financial development, economic growth, and the sustainable development index for a panel of six EU parts of the Eastern Bloc countries from 1980 to 2019. The Arellano-Bond dynamic panel-data estimation technique is accompanied by the ROBUST estimation technique, and the outcomes are interesting and corresponding. Governance, efficiency, and digital remittances spur sustainable development. Correspondingly, the financial development index and economic growth are upwelling sustainable development in the EU parts of the Eastern Bloc. Hence, governance efficiency, digital remittances, financial development index, and economic growth are appealing towards sustainable development and comply with SDG achievement. The findings shed light on innovative results discussion and provide useful policy recommendations in the light of SDG-8, SDG-10, SDG-13, SDG-16, and SDG-17 achievements.