Five decades of globalisation and growth: a cross-country causal analysis of low-income economies

This study dwells on xenophobia and the realities of actualizing the United Nations (UN) Sustainable Development Goal (SDG) eight in South Africa. It argues that since the emergence of Millennium Development Goals (MDGs) in 2000, which transited to Sustainable Development Goals (SDGs) in 2015, there has been a proliferation of literature from scholars of diverse disciplinary orientations. However, none of these studies deal with the phenomenon of xenophobia as a milestone for the attainment of the SDGs in South Africa. This paper, therefore, serves as an intervention to discuss how xenophobia affects the realization/ actualization of the UN’s SDG eight in the area under consideration. Using extant literature and the rational choice theory, it affirms that without peace and partnership with other countries, it would be very difficult for South Africa to attain the UN SDGs it envisages to achieve. To be focused and in-depth in the analysis of the phenomena under consideration the study centers exclusively on the UN SDG eight (even though there are seventeen SDGs of the UN) which hinges on decent work and economic growth. The evidence thrown up led to the major conclusion that the persistent xenophobic attacks and the resultant massive destruction of lives and businesses of foreigners, South Africa’s quest for the full-fledged realization of United Nations (UN) Sustainable Development Goal eight would remain mere paperwork. Given the increasing prevalence of xenophobic attacks in the study area, the paper suggests, among others, the building of meaningful, lasting, and effective partnerships. This entails that xenophobia in the country will be nipped in the bud.

Islamic banking and finance has emerged as one component of a significant competitive and comprehensive market, where it is reliable with conventional financial development in term of economic contribution. As of today, Islamic banking accounts for minimum of 11 percent growth in Malaysia economic development and indirectly contributes to the global agenda of developing sustainable growth. Thus, this paper aim to empirically assess the dynamic contribution of Islamic banking towards economic growth in Malaysia based on selected variables, namely, real gross domestic product (GDP), total deposit, total financing, total assets and non – performing loan. The quarterly time – series data from (2007: Q1 – 2014: Q1) are used to uncover short–run and long–run relationship between real GDP and Islamic banking key financial indicators. Using a battery of time series econometric techniques, we document that there is robust evidence suggesting favourable result where Islamic banking does contribute towards economic growth in the long-run where total deposit, total financing and total assets of Islamic banking have positive relationship where non – performing loan is found to have negative relationship. To test the causality relationship of variables in the short-run, the Wald – test Granger Causality has been carried out and it shows that there is evidence of a bidirectional causality relationship between economic growth and total deposit of Islamic banks. In addition, bidirectional relationship is also exists between non-performing loan and total deposit of Islamic banks. However, majority of the variables are found to be having unidirectional causality relationship among the variables. Overall, our conclusion state that Islamic banking and finance still act as one of the dominant key contributor to Malaysian economic development and growth. The results obtained in this paper are much more robust to alternative econometric specifications.

Customs Duties as a Key Function of Rwandaas Economic Growth Case Study: Gatuna Border in Gicumbi District (201002016)

Digital twins (DTs) are transforming healthcare systems (HSs) by enabling real-time, data-driven decision-making. Despite their potential, research on DTs’ role in long-term HS sustainability remains nascent. This study systematically reviews DT use cases in HSs through the lens of the <italic xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">triple-bottom-line</i> framework of sustainability, identifying their economic, environmental, and social contributions. Additionally, it maps these use cases to the United Nations (UN) Sustainable Development Goals (SDGs) to assess their alignment with global sustainability policies. A systematic literature review following the PRISMA framework was conducted across four databases (Scopus, Web of Science, Engineering Village, and PubMed), identifying 81 peer-reviewed studies. DT use cases were categorized into sustainability dimensions and qualitatively mapped to UN SDGs. We identify 28 unique DT use cases supporting HS sustainability – 13 contributing to economic (e.g., precision medicine, early diagnosis), 8 to environmental (e.g., energy-efficient hospital operations, waste management), and 7 to social sustainability (e.g., provider burnout prevention, equitable access). Our mapping reveals that DTs could support 11 of 17 UN SDGs, including SDG 3 (good health and well-being), SDG 8 (economic growth), SDG 9 (innovation), and SDGs 12–15 (environmental impact mitigation), among others. This study documents the significant potential of DTs to enhance HS sustainability across economic, environmental, and social dimensions while supporting multiple SDGs. However, most existing DT studies overlook explicit sustainability linkages, with limited attention to assessing or prioritizing DTs’ impact on HS sustainability. Future research should develop standardized sustainability metrics, conduct empirical studies, and create frameworks linking DT outcomes to SDGs.

This paper analyzes the link between energy consumption and economic growth in Rwanda for the period 1985-2017. The ARDL bounds test was used to test for the existence of co-integration, while the Toda and Yamamoto granger causality test was applied to test for causal direction. The results from the estimation of the ARDL bounds test showed that there was no evidence of co-integration between the considered variables under study. Additionally, the empirical findings confirmed that there was no relationship between economic growth and energy consumption in Rwanda. The findings supported the "neutrality hypothesis" between energy consumption and economic growth. This implies that neither conservative nor expansive policies in relation to energy consumption have any effect on economic growth. Furthermore, the study found a uni-directional granger causality running from energy consumption to economic growth. The results of this findings are consistent with the "growth hypothesis" which postulates that energy consumption leads to economic growth

Impact of Knowledge Economy on Economic Growth in Rwanda: An Empirical Study during the Period (2000-2019)Abstract: Purpose- This study aims to analyze the effect of the knowledge economy on economic growth in Rwanda, using time series data over 2000-2019.Design/methodology/approach - We used the Auto Regressive Distributed-Lagged (ARDL) bound testing approach to estimate the relationship between knowledge economy and economic growth in Rwanda in the short and long run.Findings- The results show that Knowledge-Economy indicators have a significant long-run relationship with the economic growth in Rwanda.Originality/value – Actions for increasing spending on research and development with the expansion of databases and information centers within government agencies are very essential for Rwanda to increase the economic growth and competitiveness in the global markets.Keywords: ARDL model; Economic Growth ;Knowledge Economy; Rwanda; Paper type: Research paperIntroduction: The world is living through the fourth industrial revolution, which is sometimes known as the information revolution. Along with other factors of production, information is the cornerstone of the production process. A knowledge economy can produce, transmit, and apply knowledge, which is the primary factor in growth, wealth creation, and employment in various developmental sectors

This paper explores the relationship between international trade and economic growth, employing cutting-edge panel cointegration testing and estimation techniques. Annual panel data on 81 countries' macroeconomic variables over the period 1960-2003 are exploited in empirical analysis. Various panel unit root tests demonstrate that the data variables are integrated processes with unit roots. Three distinct panel cointegration techniques are used to estimate the regression equation. A positive bi-directional interactive relationship between exports and output growth is found and the positive impact of output on exports is a bit stronger than the reverse. The positive association between investment share and exports and the negative correlation between labor and exports are confirmed. The exports of high income, high export, and high investment countries seem to have somewhat larger output enhancement effects than those of low income, low export, and low investment nations. Several elucidations and policy implications are provided for the above findings.

Over the past three decades, China’s economy has witnessed remarkable growth, with an average annual growth rate over 9%. However, China also faces great challenges to balance this spectacular economic growth and continuously increasing energy use like many other economies in the world. With the aim of designing effective energy and environmental policies, policymakers are required to master the relationship between energy consumption and economic growth. Therefore, in the case of North China, a multivariate model employing panel data analysis method based on the Cobb-Douglas production function which introduces electricity consumption as a main factor was established in this paper. The equilibrium relationship and causal relationship between real GDP, electricity consumption, total investment in fixed assets, and the employment were explored using data during the period of 1995–2014 for six provinces in North China, including Beijing City, Tianjin City, Hebei Province, Shanxi Province, Shandong Province and Inner Mongolia. The results of panel co-integration tests clearly state that all variables are co-integrated in the long term. Finally, Granger causality tests were used to examine the causal relationship between economic growth, electricity consumption, labor force and capital. From the Granger causality test results, we can draw the conclusions that: (1) There exist bi-directional causal relationships between electricity consumption and real GDP in six provinces except Hebei; and (2) there is a bi-directional relationship between capital input and economic growth and between labor force input and economic growth except Beijing and Hebei. Therefore, the ways to solve the contradiction of economic growth and energy consumption in North China are to reduce fossil energy consumption, develop renewable and sustainable energy sources, improve energy efficiency, and increase the proportion of the third industry, especially the sectors which hold the characteristics of low energy consumption and high value-added.

Causal relationships between energy consumption, foreign direct investment and economic growth for MINT: Evidence from panel dynamic ordinary least square models

This study aims to investigate the causality relationships between energy use, energy intensity, energy price and economic growth. Regarding the data analysis, the study covered the period from 1980 until 2020. All relevant preliminary tests were conducted in order to validate the data before the main analysis. We deployed ARDL bound test of cointegration approach for long-run relationship, as well as the granger causality test proposed by Toda and Yamamota (1995). The empirical results showed the presence of long-run relationship among the variables. We also found that energy use and economic growth has a bidirectional relationship. Similarly, we observed a presence of another feedback causal effect between energy intensity and economic growth. Likewise, a bi-directional causal relationship exists between energy price and economic growth in the Nigerian economy. The study makes available policy recommendations in the last part of the paper. KEY WORDS: energy intensity, energy price, economic growth, Toda and Yamamota

Attaining continuous economic growth entails special consideration of energy sector and the environment. Compliance with this purpose may be more intricate in the uncertain milieu of developing countries. The present paper examines the nature of causality between energy consumption, environment pollution, and economic growth in 8 contiguous developing countries, considering GDP per capita, CO2 emissions, energy use, labour force, total population, urban population, capital formation, financial development, and trade openness. The author applied spatial simultaneous equations for random effects panel data to investigate the spatial interactions of adjacent countries over the period from 1998 to 2011. The findings reveal that energy consumption, environment degradation, and economic growth of a country influence those of its neighbours. Additionally, the results document bidirectional causal relationship between economic growth and environment pollution, as well as between environment pollution and energy consumption. Thus, there is a bidirectional relationship between energy use and economic growth. Fossil fuels replacement with renewable energy and usage of tax instruments to reduce greenhouse gas are recommended.

Energy, which is important in achieving sustainable growth and development goals, is present in every aspect of our lives in different forms. Likewise, financial development also plays an important role in achieving the sustainable economic growth targets of countries. In this context, this study investigates the relationship between renewable energy, financial development and economic growth in Türkiye in the period 1990-2021. As a result of the cointegration analysis test, the existence of a long-term relationship between the variables was obtained. According to the causality analysis findings, a bidirectional causality relationship was obtained between economic growth and money supply representing financial development. While a one-way causality relationship from economic growth and money supply to renewable energy consumption is obtained, a bidirectional relationship is obtained between private sector loans provided by banks representing financial development and renewable energy consumption.

This study investigates the determinant of economic growth in Rwanda, using time series data for the period 1990-2017. These data have been analyzed and interpreted using statistical, analytical, synthetic methods as well as an econometrical approach. The economy of Rwanda represents the research gap about the components and determinants of economic growth as instrument policies to alleviate poverty and rise out production. The objective was to test the trends and relationship between capital formation, foreign direct investment and economic growth in Rwanda. This research tested and confirmed the following: gross capital formation and foreign direct investment are the main determinants of economic growth in Rwanda for the period under study. R-square, the overall measure of goodness of fit indicates that the explanatory variables included in the above model explain 89.3% of the variation of the dependent variable (GDP growth) for the long run regression model and 97% for the error correction model. The error correction model shows that the speed back to equilibrium is 86.4% that is when a shock happens in the previous period it decreases by 86% in the current period. This indicates that there is a significant short-run relationship as it was shown by the coefficients of the error correction model which are significant. Based on the existence of a long-run co-integrating relationship and the short-run interactions, the researcher tested and confirmed that there was a short-run and long-run positive relationship between capital formation, foreign direct investment and economic growth in Rwanda during the research period. The study reveals that capital formation has a significant positive effect on gross domestic product in the long run. The policy-makers should formulate policies by looking at the determinants of growth as they are crucial in the process of economic growth and have a positive remarkable role in the economic acceleration.

This paper examines the impact of remittance inflows on economic growth in Sub-Saharan Africa (SSA) countries and Rwanda in particular for the period between 1980 and 2014. It explores whether the growth impact of remittances is conditional on the institutional and development factors in SSA countries. The analytical framework of this study is embedded in the debate between two dominant theoretical approaches about the growth effect of remittances; the national accounts and endogenous growth models. As baseline analysis, the paper employs a cross-sectional analysis of 45 SSA countries, follo\\wed by a more in-depth analysis of Rwanda as a case study. The findings reveal that the two theories are complementary but not mutually exclusive in explaining the growth effect of remittances. The cross-sectional analysis of SSA countries shows no statistically significant impact of remittances on economic growth in the region. But the remittance-growth impact is positively and statistically significantly conditioned by the country's level of development, financial development, and education, while the quality of institutional variables adversely affects the remittance-growth impact in the region. In contrast, the same findings reveal a positive and significant growth impact of remittances in Rwanda. The results of the country-level analysis reveal plausible evidence of long-run causality, running from remittances to GDP per capita in Rwanda, but not vice versa. The results demonstrate that the conditional marginal effect of remittances on GDP per capita in Rwanda increases with more remittance inflows to the country. These findings suggest that both the overall institutional environment and that of the financial sector specifically are imperative for enhancing the growth and development impact of remittances in the SSA countries and Rwanda in particular.

This chapter shows how large agricultural investments in the fight against poverty have given way to considerable economic growth in Rwanda in the past two decades. However, the rise of Rwanda cannot be sustainable if the lingering tension between democracy and development is not addressed. To support this idea, the chapter illustrates how the ideal of modernity and the debates around economic growth and the fight against poverty are closely interconnected. It takes the Rwandan development model as a case study to illustrate how its modernization project has enabled the country to perform in line with core international objectives of the fight against poverty.