A Small Quarterly Projection Model for a Selected Group of CEE Economies

During the Industrial Revolution, a significant increase in output was achieved through the use of machines in the production process. However, operating these machines required substantial energy and inputs, which resulted in increased pollution and consequently accelerated environmental degradation. Over time, these environmental issues have become a global threat, taking the form of natural disasters such as droughts, heavy rainfall, and extreme weather conditions. Within this context, the determinants of environmental quality have attracted growing attention from researchers and have been widely studied. As it became widely accepted that economic activity contributes to environmental pollution, the concept of sustainable economic growth emerged as a new objective for many countries. One key factor influencing sustainable economic growth is green investment, which promotes environmentally friendly economic activities. Despite its importance, the impact of green investment on sustainable economic growth has been largely overlooked in the literature. This study aims to examine the effect of green investment on sustainable economic growth in 17 developed countries over the period 2014–2022, using the two-step System Generalized Method of Moments. The results show that higher levels of green investment are associated with a higher rate of sustainable economic growth. In addition, several control variables are included in the analysis. These are inflation, trade openness, foreign direct investment, and government expenditure. The findings suggest that inflation has a growth-enhancing effect on sustainable economic growth, whereas the other variables have a negative impact. To ensure the robustness of the findings, one-step System Generalized Method of Moments technique was also conducted, which confirmed the initial results. Based on these findings, the study offers policy recommendations. In particular, it emphasizes the need for targeted strategies that encourage green investment as a means to achieve long-term sustainable economic growth and also suggests some directions for future research on this topic.

Analysis of energy consumption structure on CO[formula omitted] emission and economic sustainable growth

This study investigated the impact of the people category of the Sustainable Development Goals (SDGs) on sustainable and conventional economic growth in Asia and the Pacific region, using a sample of 52 selected countries between 2000 and 2023. Employing two distinct models, model A1 for conventional economic growth and model A2 for sustainable economic growth, we explained the relationships between five SDG indicators: employed poverty rate, stunted children, expenditure on health, expenditure of education, and % of women MNAs on economic growth. This study employed a fixed-effect model and random-effect model to investigate the impact of the people category SDGs on traditional and sustainable economic growth. The comparative analysis of each SDG in both models revealed valuable insights. SDG 1, “employed poverty rate”, has a positive impact on economic growth in both models, while SDG 2, “percentage of stunted child”, did not significantly influence economic growth in either model. Moreover, SDG 3 and SDG 4, relating to “government’s health expenditure per capita” and “government’s Education education expenditure per capita”, respectively, exhibited a positive impact on traditional and sustainable economic growth. Conversely, SDG 5, “percentage of women members of national parliament”, displayed an insignificant impact on traditional and sustainable economic growth models. In conclusion, this study suggests that policymakers should prioritize targeted interventions to alleviate employed poverty, enhance healthcare, and boost education spending. Moreover, promoting women’s representation in national parliaments should be approached with context-specific strategies to maximize its impact on economic growth.

The Indonesian government policy in encouraging sustainable economic growth to reduce unemployment, poverty and inequality is threatened to fail, because economic growth does not reach targets and is not of quality. The purpose of this research is to explain the four pillars of growth and development namely; human capital, social capital, institutional economics and entrepreneurship as the main drivers of quality and sustainable economic growth. This research method used primary data on entrepreneurship and SMEs in the provinces of Central Java and Yogyakarta. The correlational form of recursive model path analysis was used as analytical method. The research results show the very strong role of human capital as the main key in driving economic growth both directly and indirectly. The existence of human capital and social capital will further encourage new economic institutions, furthermore new economic institutions will encourage the competitiveness of productive entrepreneurship and high, quality, and sustainable regional economic growth. The policy implication is that high, quality, and fundamentally sustainable economic growth must be built on the four main pillars basis namely; human capital, social capital, institutional and entrepreneurship in order to be more successful in reducing development problems; unemployment, poverty and income inequality.

Digital finance is an innovative financial model of great significance for sustainable economic growth. By constructing indicators of sustainable economic growth, we explore the impact of digital finance on sustainable economic growth using the fixed effect model, mediating effect model, threshold regression model, and dynamic spatial Dubin model. The study finds that digital finance can drive sustainable economic growth, and the robustness and endogenous treatment results strongly verify this. Digital finance promotes sustainable growth mainly through technological innovation. In addition, with technological innovation and the development of renewable energy, there is a significant nonlinear relationship between digital finance and sustainable economic growth. Finally, the spatial spillover effect results show that digital finance's impact on sustainable economic growth has a positive effect, whether it is a direct effect or an indirect effect. This article provides possible ideas for digital finance to promote sustainable economic growth.

SDG 8’s goal is to promote sustained, inclusive, and sustainable economic growth; full and productive employment; and decent work for all. This chapter examines the experiences of East Asian developing countries in achieving rapid and inclusive economic growth by focusing on the role of international tradeand foreign direct investmentnexus created through global value chains (GVCs)by multinational corporations (MNCs). GVCs enabled participating companies and countries to improve productivity, contributing to economic growth. The factors attributable to the participation in GVCs include high competitiveness of local companies and open business environment created by the Asian government. Moreover, construction and maintaining well-functioning soft (e.g., education and legal systems) and hard (e.g., transportation and communication systems) infrastructure by the government and international donors contributed to the creation of business-friendly environment. Faced with growing protectionism and the threats of growing US-China rivalry, infectious diseases, climate change, etc., maintaining an open and transparent rules-based business environment is crucially important to further achieving sustained, inclusive, and sustainable economic growth. In the light of absence of effective global economic order, exemplified by ineffectiveness of the World Trade Organizationin trade liberalization as well as dispute settlement, regional economic frameworks such as the CPTPP and RCEP in the Asia and Pacific region would be proven to be effective to achieve the goal.

Die neue UN-Resolution „Transforming our world: the 2030 Agenda for Sustainable Development“ – die neue UN-Ziele verankern klare Vorgaben für nachhaltige Entwicklung und verstehen sich als konzeptionelle, normative Antwort auf das global fließende Muster der wirtschaftlichen Transformation, kurz: die Globalisierung. Der neue KommentarDer Kommentar von Huck reagiert hierauf mit einer umfassenden Auslegung für die praktische Arbeit. Er deckt den gesamten Regelungsbereich der einzelnen Sustainable Development Goals, kurz SDGs ab. Ausführlich werden die insgesamt 169 Zielvorgaben erläutert und eingeordnet. Dabei werden immer auch Fragen zur Verbindlichkeit für wen, zum konkreten Anwendungsbereich und zu Rechtsschutzmöglichkeiten geklärt.The UN Resolution Transforming our world: “the 2030 Agenda for Sustainable Development” set in forth at 1 January 2016 enshrines 17 Sustainable Development Goals (SDGs) including 169 targets and seems a conceptual, normative answer to the global fluid pattern of economic transformation, shortly: the globalisation. Against this background, the SDGs are embarking to the multileveled legal order, following different horizontal and vertical ways. The significance of the SDGs for the application of the law in the context of regulations of the international level within the UN and autonomous International Organisations appears to be clearly visible. On the vertical level regional cooperation such as the EU, ASEAN, CARICOM, are integrating the SDGs in different legal agreements and similar currently happens on the national level and not to forget the transnational level as well. This new Commentary covers the whole field of SDG law.

This study investigates the relationship between sustainable economic growth and foreign direct investment (FDI) in Saudi Arabia from 1980 to 2023. The ARDL approach and VECM technique are employed to analyze the short-run and long-run dynamics. The short-run results show mixed effects. Sustainable economic growth has a positive impact on current and one-period lagged FDI but a negative impact on the two periods lagged. Trade openness and infrastructure negatively affect FDI in the short run. Interestingly, oil rents and real economic growth also have negative short-run impacts on FDI, but these effects become positive with a longer lag. Long-run analysis reveals a negative relationship between trade openness, infrastructure, and oil rents with FDI, suggesting a potential crowding-out effect. Trade openness has a positive long-run impact on most variables, including sustainable growth, FDI, real growth, and CO2 emissions. Oil rents also have a positive long-run impact on these variables. This study finds six bidirectional causal relationships in the short run, primarily between trade openness, infrastructure, oil rents, and FDI. Unidirectional causality runs from oil rents, trade openness, exchange rate, sustainable growth, and real growth to FDI and infrastructure. Additionally, CO2 emissions cause FDI, and trade openness causes sustainable growth. While sustainable economic growth benefits FDI in the long run, short-term policies regarding trade openness and infrastructure require reevaluation. Oil revenue and real economic growth may initially deter FDI, but this reverses in the long term. To attract sustainable FDI, policymakers should focus on long-term economic growth strategies and consider reforms in trade and infrastructure policies. A comprehensive FDI strategy that moves beyond oil dependence and leverages trade openness is crucial to long-term economic diversification.

Sustainable economic growth is one of the main pillars of sustainable development, together with the environment and society. Therefore, unveiling the factors behind sustainable economic growth is vital for the design of economic, educational, and social policies. This study investigates the role of renewable energy use, gender inequality, human capital, and foreign direct investment (FDI) inflows on sustainable economic growth in the BRICS countries during the period of 2000–2021 by using novel cointegration and causality tests. The findings of the causality test point out a feedback interplay among renewable energy use, gender inequality, and indicators of sustainable economic growth and a unidirectional causality from human capital and FDI inflows to indicators of sustainable economic growth. Furthermore, the consequences of the cointegration test unveil that the use of renewable energy, human capital, and FDI inflows positively impact sustainable economic growth, while gender inequality negatively affects sustainable economic growth. In conclusion, our results highlight the significant roles of renewable energy, human capital, and FDI inflows, along with gender equality, in achieving sustainable economic growth.

At the stage of high-quality economic development, sustainable economic growth is worthy of attention. The supporting role of financial development for sustainable economic growth will become more important. This article aims to identify the influence of financial development on sustainable economic growth and its impact mechanism. Based on measuring the level of sustainable economic growth, this article theoretically and empirically identifies the impact of financial development on sustainable economic growth and its mechanism by adopting the panel data from 283 prefecture-level and above cities in China. The empirical results show that financial development is conducive to improving sustainable economic growth through the mechanism of capital deepening and technological innovation. Furthermore, for type I large and medium cities, financial development is conducive to enhancing sustainable economic growth, while the effect is not significant for type II large and small cities. Therefore, the local government could promote financial supply-side reform and implement differentiated financial development strategies for sustainable economic growth from aspects of capital deepening and technological innovation.

This study examined the effects of determinants of tax compliance behaviour on sustainable economic growth of micro, small and medium enterprises (MSMEs) in South-South, Nigeria. The study anchored on the economic deterrence theory and cross sectional survey research design was used on a sample of MSMEs in South-South, Nigeria. The primary data was collected using a questionnaire with a five-point Likert scale and a sample size of 535 using convenience sampling. The data collected were analysed using descriptive statistics, bivariate analysis while multivariate analysis was used in the estimation of the regression model developed for the study. The findings revealed that tax penalty has positive and significant influence on sustainable economic growth among MSMEs in south-south of Nigeria; tax fairness has positive and significant influence on sustainable economic growth among MSMEs in south-south of Nigeria; perceived opportunities of tax evasion has negative and insignificant influence on sustainable economic growth among MSMEs in south-south of Nigeria; tax audit has positive and significant effect on sustainable economic growth among MSMEs in south-south of Nigeria; and tax system has positive and significant influence on sustainable economic growth among MSMEs in south-south of Nigeria. On the basis of the findings, the study concluded that tax determinants such as tax penalty, tax fairness, tax audit, tax system and opportunity for evasion affects the level of sustainable economic growth among micro, small and medium enterprises in South-South Nigeria. The study recommended amongst others that government should expand the tax administration system in Nigeria and strengthen tax collection schemes and follow up procedures on MSMEs. Also frequent tax reforms designed and implemented that would increase revenue generation through tax collection and consequently stimulating sustainable economic growth of Nigeria.

PurposeThe market-based monetary policy framework has been favoured by Economic Community of West African States (ECOWAS) economies. Hence, this study aims to investigate the effect of monetary policy channels on the sectoral value added and sustainable economic growth in ECOWAS. Data from the World Bank and International Monetary Fund over 2013–2019 were sourced for thirteen member countries. ECOWAS is found to have very high inflation level, interest and exchange rates.Design/methodology/approachThe study adopted the Driscoll–Kraay fixed-effects ordinary least squares regression (OLS) estimator.FindingsThe findings revealed that while the effect of monetary policy channels on the agricultural sector value added is largely heterogenous and significantly in-elastic, the one on the industrial and services sectors are overwhelmingly homogeneous and negative, but insignificant for the services sector. Moreover, the effect of monetary policy channels on sustainable economic growth is also homogeneously asymmetric, with imminent stagflation, while the interactive effects of monetary policy channels are heterogeneous on sustainable economic growth and economic sectors. Therefore, an inflation targeting monetary policy stance is generally recommended with prioritised exchange rate stabilisation amid sufficient fiscal space.Originality/valueThis is amongst the first studies to investigate monetary policy channels, sectoral outputs and sustainable growth in the ECOWAS region with a rigorous analysis and found implications for policy.

This present study explores the extent to which financial inclusion influences the impact of trade liberalization on sustainable economic growth. The empirical studies on the effects of trade liberalization on sustainable economic growth are inconclusive. More importantly, how financial inclusion mediates the relationship between trade liberalization and sustainable economic growth remains unexplored. We address these research gaps by employing the quantile fixed effects-OLS regressions model on data spanning the period 2000 to 2021 for 48 SSA countries. The effect of trade liberalization on sustainable economic growth proves to be affected positively by financial inclusion, and the effect of financial inclusion on sustainable economic growth is positively strengthened by an increase in trade liberalization. The study shows that there is a causal relationship between trade liberalization, financial inclusion, and sustainable economic growth. Our study shows novelty in that the marginal effects on sustainable economic growth increase when trade liberalization interacts with financial inclusion in SSA.

Factors influencing sustainable tourism economic growth: A case study of Lampang Province, Thailand.

Introduction. The strategic goals of our state's development for the period up to 2030 are to improve nutrition, promote sustainable agricultural development, and promote progressive, inclusive and sustainable economic growth. The solution of certain goals is possible due to organic production and the formation of a resource-saving model of sustainable economic growth. That is why the formation of sustainable economic growth on the basis of organic production and resource-saving model is quite relevant in modern conditions. The aim of the article is to form sustainable economic growth on the basis of organic production and resource-saving model. Results. It is proved that the concept of sustainable development is given to sustainable land use and agricultural production. It is determined that in order to achieve the sustainability of the world community, agriculture was given, as now, a special role: it must, together with the relevant service infrastructure to compensate for the dominance of industrial production and ensure social and economic development and environmental protection. Conclusions. It is substantiated that sustainable economic growth should be considered as a process of forming a holistic system that includes factors of economic, environmental and social orientation and ultimately creates the conditions for effective provision of both food needs and a favorable living environment in rural areas on the basis of self-reproduction and resource conservation. It is determined that sustainable economic growth is formed on the basis of balanced production potential, reproduction of means of production, sustainable growth of food industry, balanced use of nature, reproduction of natural resources of future generations, raising the level of rural areas, reproduction of resources. Keywords: sustainable economic growth, resource-saving model, organic production, agricultural production.