Can nuclear energy fuel an environmentally sustainable economic growth? Revisiting the EKC hypothesis for India.

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

The Brundtland Commission Report of 1987 laid out the case for ongoing economic growth as an essential prerequisite for sustainable development. This paper identifies reasoning utilized in that Report to support the idea of ‘sustainable economic growth’. The paper then argues that this economic progrowth bias has continued to represent the dominant, mainstream viewpoint within the sustainable-development movement. In a similar vein, the paper suggests widespread support for the idea of ‘smart growth’ as a form of ‘sustainable urban growth’ capable of advancing the end of sustainable cities. The purpose of the paper is to make the case for the intrinsically unsustainable nature of economic and urban growth. Included among the results of the paper are references to publications from the 1990s and the current decade revealing mounting evidence of existent ecological limits to growth. As its central conclusion the paper argues that continued allegiance to the idea of ‘sustainable growth’ constitutes a major impediment to realizing the ends of sustainable development and sustainable cities.

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.

Econometric evaluation of economic growth sustainability of various regions
 is provided. As it is stated, for the period of 1998–2012 economies of the North
 Caucasian and the Far Eastern federal districts tended to develop more sustainably,
 while economies of the Central and the Urals federal districts tended to
 develop less sustainably. Within the North Caucasian federal region, it was the
 Kabardino-Balkar Republic, that showed the most sustainable economic growth.
 Similarly, during the same period the Republic of Sakha (Yakutia) within the Far
 East federal district, the Krasnoyarsk Region within the Siberian federal district,
 the Leningrad Region within the North-West federal district and the Republic of
 Adygea within the Southern federal district were leaders in terms of sustainable
 development within their federal districts. As for the Volga federal district,
 the most sustainable economic growth was observed in the Republic of
 Bashkortostan; within the Urals federal district the most sustainable growth was
 observed in the Sverdlovsk Region and within the Central federal district —
 in Belgorod Region. The need to differentiate anti-crisis economic policy towards
 separate regions, dependant on the propensity of a regional economic system for
 sustainable economic growth, is emphasized.

Promoting decent work and sustainable economic growth within the framework of Sustainable Development Goal 8 (SDG 8) entails addressing gender inequality, the consequences of market economies, and the role of the informal sector while also considering environmental sustainability. Research on SDG 8 remains limited, often adopting an appraisal perspective, and the concept of decent work within this goal remains relatively unexplored. Additionally, the focus on the challenges and inadequacies of achieving sustainable economic growth through decent work in the context of SDG 8 is insufficient, resulting in significant knowledge gaps. To contribute to filling these gaps, this paper adopts a descriptive and critical review perspective, systematically analyzing 108 journal papers and reports to investigate the concept of decent work within SDG 8. The research addresses the challenges and inadequacies related to decent work embedded in SDG 8. The review reveals that while progress has been made in tackling gender inequality in the labor market, gender bias, income discrepancies, and underrepresentation of women in senior positions persist, hindering inclusive and sustainable economic growth, full and productive employment, and decent work for all - SDG 8. Moreover, SDG 8's focus on inclusive and sustainable development falls short of effectively addressing market economies' structural disparities, insecure working conditions, and exploitative labor practices. Additionally, support for informal sector workers, who lack essential rights such as legal protection and social security, remains insufficient. Ecological destruction is sometimes an unintended consequence of purely market-based labor markets with an emphasis on economic growth, with SDG 8 lacking sufficient integration of environmental sustainability in its framework. The novelty of this study comes from its in-depth, critical, and policy-focused analysis of the ideas around decent employment in the context of SDG 8. The findings underscore the importance of providing fair, safe, and secure employment opportunities to support economic growth and development while upholding workers' rights. In conclusion, we emphasize the crucial role of promoting decent work and sustainable growth in achieving SDG 8's overall objectives, as it directly impacts other SDGs.

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.

Sustainable economic growth is a critical agenda for developing Muslim countries facing the challenges of globalization and climate change. Islamic investment instruments such as sukuk and Islamic mutual funds provide an alternative financing mechanism aligned with Sharia principles, promoting inclusive and sustainable development. This study aims to analyze the contribution of these Islamic investment instruments to sustainable economic growth in developing Muslim countries. Utilizing panel data from 20 member countries of the Organization of Islamic Cooperation (OIC) over the period 2020–2025, this study applies fixed-effect panel regression analysis. The dependent variable is a sustainable economic growth index incorporating economic, social, and environmental dimensions. Independent variables include sukuk issuance and Islamic mutual fund assets under management, with control variables covering Islamic financial literacy, inflation, and conventional interest rates. The findings reveal that both sukuk issuance and Islamic mutual funds significantly and positively impact sustainable economic growth, with sukuk having the most substantial effect. Moreover, Islamic financial literacy enhances the positive relationship between Islamic investment instruments and sustainable growth. The study underscores the necessity of strengthening regulations, transparency, and Islamic financial education to accelerate the development of Islamic capital markets that contribute to sustainable development. Policy implications include enhancing Islamic financial literacy programs, developing green investment products, and fostering multi-stakeholder collaboration to build an inclusive and sustainable Islamic investment ecosystem. These findings provide robust empirical evidence for policymakers and Islamic capital market participants to optimize the role of Islamic investment instruments as pillars of sustainable economic development in developing Muslim countries.

В настоящее время инструментам для устойчивого роста национальной экономики уделяется значительное внимание. Опыт анализа роли промышленности и оценки развития промышленности в рамках модели устойчивого роста экономики Социалистической Республики Вьетнам может быть использован для выявления перспектив развития экономик других развивающих стран. В статье исследуется развитие промышленности как ключевой инструмент для перехода к модели устойчивого роста экономики Вьетнама. В этом контексте обсуждаются взгляды на определение понятия «развитие промышленности» и выявляются основные направления моделирования экономического роста в современной экономике. На основе расчета вклада развития промышленности в рост ВВП Вьетнама и сравнительного анализа данных о развитии промышленности новых индустриальных стран, например Филиппин и Индонезии, показаны текущее состояние развития экономики Вьетнама и пути реализации модели устойчивого роста до 2030 г. Эффективное осуществление государственной стратегии развития промышленности оценивается на базе сравнения поставленных целей и результатов, достигнутых во Вьетнаме до 2020 г. Значительное внимание уделено процессам трансформации модели экономического роста за счет повышения уровня развития промышленности во Вьетнаме. В статье представлена концептуальная модель устойчивого роста экономики на основе развития промышленности, разработанная на базе системного подхода, объединяющая организационные, институциональные и экономические факторы развития промышленности и увязывающая его с триадой устойчивого развития. Выявлены основные проблемы развития промышленности во Вьетнаме на основе оценки развития промышленности в соответствии с основными блоками модели устойчивого роста экономики. В заключение предложены рекомендации по улучшению управления развитием промышленности во Вьетнаме в рамках этой модели. Currently, considerable attention is being paid to the issues of tools for sustainable growth of the national economy. An analysis of the role of industry and an assessment of the state of industrial development within the framework of a model of sustainable economic growth using the example of the Socialist Republic of Vietnam reveal the promising development of the economy in many developing countries of the world. This article examines the development of industry as a key tool for changing the model of sustainable economic growth in Vietnam. In this context, the main directions of modeling economic growth and the perspective on the definition of the concept of “industrial development” have been identified. Based on the calculation of the contribution of industrial development to the growth of Vietnam’s GDP and a comparative analysis of the data on the development of industry in new industrial countries, for example, the Philippines and Indonesia, the current state of development of the Vietnamese economy and ways to implement the model of sustainable growth until 2030 in Vietnam are shown. The effective implementation of the state strategy on the development of industry is evaluated on the basis of a comparison of the goal forecast and reality in Vietnam until 2020. The article presents a conceptual model of sustainable economic growth on the basis of industrial development, developed on the basis of a systematic approach, combines the organizational, institutional and economic factors of industrial development and links it with the triad of sustainable development. The main problems of the development of industry in Vietnam are identified on the basis of an assessment of the development of industry in accordance with the main blocks of the model of sustainable economic growth. In conclusion, recommendations are proposed for improving the management of industrial development in Vietnam in the framework of this model.

Since the 1978 economic reform, China has undergone a historical process of rapid urbanization. Although this process has been recognized as a key factor in the development of sustainable growth in China, low quality rural labor continues to limit the effectiveness of the country’s urbanization. Our study uses a spatial analysis framework to explore how the education level of rural laborers moderates the effect of urbanization on economic growth with provincial data collected from 1996 to 2015. Our results reveal that the influence of population urbanization on sustainable growth is mediated by the improvement of consumption capacity of urban dwellers and the industrial structural changes. The education level of rural laborers adjusts the urbanization’s influence on the consumption capacity of residents, which further affects economic growth. Empirical evidence indicates that the educationally limited rural population negatively moderates the impact of urbanization on sustainable economic growth by restraining the consumption capacity of migrating rural labor. It is also found that in some provinces with less-qualified rural labor, such as Gansu, Yunnan and Qinghai, population urbanization has not contributed to a corresponding economic growth, indicating that these provinces may have undergone urbanization without growth. These findings suggest that basic education is critical to the growth of income and consumption capacities of rural labor when laborers are migrating to urban areas. To achieve a valid urbanization process and sustainable growth, state and local governments must improve the basic education scheme, especially the nine-year compulsory education in Chinese rural areas through public financial investment and policy support.

The market-based monetary policy framework has been favoured by ECOWAS economies. Hence this study investigated the effect of monetary policy channels on the sectoral value added and sustainable economic growth in ECOWAS. Data from 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. Furthermore, using the Driscoll-Kraay fixed-effects OLS estimator, the findings revealed that while the effect of monetary policy channels on the agricultural sector value added is largely heterogenous and significantly inelastic, 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.

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.

Energy diversification is very important to the sustainable economy growth. In this paper we develop an endogenous growth model and analyze some major relationship between the energy diversification and sustainable economy growth. The dynamic optimization results of the model show that the technology progress will make great contributions to the energy diversification and the specialized energy R&D plays an important role in the energy diversification process, which can accelerates energy supply source expansion. Propelled by the specialized energy R&D, energy diversification will redistribute the labor force among different sectors, offset the adverse effects of diminishing marginal return of factors, and help economy step into sustainable growth e entually.

Economic diversification is critical for sustainable economic growth and development in developing countries. Human capital, particularly education and training, plays a crucial role in facilitating economic diversification. This paper explores the theoretical concepts related to human capital and economic diversification in developing countries, with a focus on the relationship between education, training, and economic structure. This paper explores the theoretical concepts underlying the relationship between human capital, education, training, and economic diversification in developing countries. As developing countries strive to break the shackles of poverty and achieve sustainable economic growth, the importance of human capital in driving economic diversification cannot be overstated. This study delves into the intricate relationship between education, training, and economic structure, uncovering the ways in which investments in human capital can propel economic growth, reduce inequality, and foster economic diversification. Using a comprehensive framework that integrates insights from economics, education, and development studies, this research explores the complex interplay between human capital, economic structure, and economic diversification. The findings of this study underscore the critical role of education and training in enhancing the productivity and competitiveness of workers, firms, and economies, ultimately driving economic diversification and sustainable growth.

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.

The paper provides empirical insights about how the interactions between the external debt and external sector dynamics impacts on economic growth in Nigeria. The paper underscored the critical desire to understand how debt-growth relationship could be optimized for sustainable economic development and growth in developing countries. It proposes modelling the external sector and debt dynamics in order to attain sustainable development in Nigeria. This study became imperative because Nigeria occupies a very significant position in Africa. Nigeria, though a developing country, is currently the largest black nation in the world and most populous country in Africa. The paper opted for an ex post facto research design using CBN statistics extrapolated from its statistical bulletin with 37year coverage from1980-2016. The data was analyzed using the ARDL and granger causality technique coupled with other pre-estimation and diagnostic tests. The result showed foreign-debt and debt-service was negatively not-significant on sustainable growth. It was concluded that though Nigeria wasn’t wrongly positioned on the debt-laffer-curve, the economy had not benefitted positively from the mass of debt funds accessed. The paper's primary contribution is finding that external debt and debts service had a negative (not-significant) impact on economic growth in Nigeria. The policy implication of this research may be applied to other developing countries. The propositions may however lack general applicability in more advanced economies.