Space Economy and Sustainable Development Goals: Technological Spin-offs and Policies for Emerging Economies

Abstract

Space economy, worldwide, has been transformed from being a field of scientific discovery to being critical infrastructure to support sustainable development. The present qualitative study analyzes its role in being a driver for development through its various economic, sociological, technological and policy perspectives for developing countries. Based on the institutional perspective provided in UN and OECD documents, the article shows the utility of space services in achieving Sustainable Development Goals (SDGs). The paper claims that lowering of launch costs and international collaborations have created new possibilities for the Global South. The article presents case studies from African and Latin American continents, and from India in terms of shifting to a demand driven approach in order to provide practical guidance to technological self-sufficiency. However, such a potential can be harnessed only through appropriate frameworks which match the economics and priorities of the country concerned. The paper ends with providing policy imperatives for emerging economies based on such an institutional framework.