Concerns about improving social, environmental, and economic living standards are the basis of the triple bottom line (TBL) link to economic development (ED). Aware of the importance of studying their relationship, this article analysed the influence of TBL on ED. A quantitative methodology was used. The sample comprised a panel of data from 2006 to 2019 for OECD (Organisation for Economic Co-operation and Development) countries. Five multiple linear regression models were estimated by the generalised method of moments. The results of this study revealed that the social dimension of TBL boosts ED, the environmental dimension of TBL slows down ED, and the economic dimension of TBL contains conflicting synergies in ED. The Human Development Index (HDI) should now include indicators of environmental wellbeing. Governments should adopt policies to improve social wellbeing to boost ED, work to coordinate the objectives of environmental protection and ED, and combat vulnerabilities arising from public debt. As one of the first studies to assess the influence of TBL on ED at the country level, the present findings contribute to the reflection about the influence of TBL on a country’s ED and strengthens the discussion around the influence of different dimensions of TBL.
The importance given to sustainable development paved the way for the development of the triple bottom line (TBL) concept. TBL is vital for the assessment of nations’ economic development (ED) beyond traditional economic measures. Despite this relevance, few studies still seek to deepen our understanding of the interaction between TLB and ED. Thus, this bibliometric study aimed to analyse the relationship between TBL, sustainability, and ED, adding business strategy concepts such as competitiveness, decision making, planning, and performance. We intended to reinforce the extension of TBL’s dominant rhetoric to sustainable ED. The results revealed the relationship between TBL and ED and allowed the identification of four clusters, from which a theoretical–conceptual model of the theory and application of TBL to achieve ED was formulated. This model can be adopted for the consolidation of ED through the TBL framework and as a tool to support business strategy related to obtaining competitive advantage; decision making; planning; and stimulating economic, social, and environmental performance.
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