The Financial Economic Development Agenda of the SADC Region

The green transformation of industry and sustainable economic development both require considerable investment. In this regard, green finance that is compatible with economic development can help cope with the massive demand for capital. Taken China’s Yangtze River Delta (YRD) as an example, this study is to measure the coordination degree between green finance and economic development. First, the concept, content and scope of green finance is defined based on the new financial regulation mechanism. Second, a green finance measurement index is built to calculate the green finance index for 30 Chinese provinces by the CFA test. Third, based on the economic structure index, an economic development index is built. Testing the rationality of green financial index and the economic development index, this paper finally measures the degree of coordination between green finance and economic development in the YRD. The results reveal that, first, green finance is a financial instrument that integrates financial industry development, environmental improvement, and economic growth. The measurement of the green financial development index includes the sum of regional green credit, green investment, green securities, and green insurance. Second, after years' development, the comprehensive score of YRD’s coupling coordination degree exceeds 0.8 in 2020, which shows a high level of coordinated development between green finance and economic construction. However, there is a 2-year timing effect between the economic development and green finance index increase, which reveals that green finance development in the YRD requires further policy guidance and support. This study’s findings can provide a theoretical reference and case support for the further development of green finance and related policies in China.

Ekonomik kompleksite endeksinin kişi başı milli gelire olan etkilerinin ölçülmesinde ekonomik bir gösterge olarak değerlendirilmesinin yanı sıra sosyal refah göstergesi olan insani gelişmişlik endeksinin etkilerinin de değerlendirilmesi önemlidir. Bu anlamda, ülkeler için oldukça önemli olan kişi başına gelir değişkenin ekonomik kompleksite ile insani gelişmişlik endeksi arasındaki ilişkilerin belirlenmesi önemli hale gelmiştir. Bu çalışmada, Türkiye’de kişi başına düşen gelir ile ekonomik kompleksite ve insani gelişmişlik endeksi arasındaki ilişkilerin tespit edilmesi amaçlanmaktadır. Değişkenlerin durağanlıklarının tespit edilmesi sürecinde doğrusal birim kök testleri ile fourier fonksiyonlara dayalı durağanlık testleri gerçekleştirilmiş, değişkenler arasındaki ilişkilerin belirlenmesinde de Tsong, Leei Tsai ve Hu (2016) Fourier Eşbütünleşme Testi kullanılmıştır. Analizden elde edilen bulgulara göre, Türkiye’de ekonomik kompleksite endeksi ile kişi başına gelir ve insani gelişmişlik endeksleri değişkenlerinde meydana gelen artış ve azalışların birbirlerini etkiledikleri tespit edilmiştir. Bu etki ise; bağımlı değişken ekonomik kompleksite endeksi iken, söz konusu değişkende meydana gelen %1 birim artışın, kişi başına geliri %0,37 oranında azalttığı, insani gelişmişlik endeksini ise %2,33 oranında artırdığı şeklinde ifade edilebilir. Bağımlı değişken insani gelişmişlik endeksi iken; söz konusu değişkende meydana gelen %1 birim artışın, kişi başına geliri %0,05 oranında artırdığı, ekonomik kompleksite endeksini ise %0,23 oranında azalttığı şeklinde ifade edilebilir.

This study examined tax revenue on economic development in Nigeria for a period of 31years, 1993-2023. To achieve this objective, Human Development Index (HDI) served as the dependent variable for this study proxy for economic development, while company income tax (CIT), petroleum profit tax (PPT), personal income tax (PIT), value added tax (VAT), education tax (EDT) and customs and excise duties (CED) served as the independent variables (explanatory variables). Ex-post-facto research design was utilized for this study. Data used were sourced from the United Nations Development Programme (UNDP), Central Bank of Nigeria (CBN) Statistical Bulletin, Central Bank of Nigeria Economic and Annual Report Account, Federal Inland Revenue Service (FIRS), the Federal Reserve Bank of St. Louis, and the World Bank Database Descriptive statistics, Phillips-Perron (PPT) Unit root test, Johansen Co-integration, Granger causality and Vector Autoregressive model (VAR) were the analytical tools for this study. The results revealed that some variables of tax revenue indicators have significant effect; while others have no significant effect on economic development indicators. The variables were normally distributed, and there was a causal relationship between tax revenue indicators and economic development. There exist a long-run relationship between tax revenue indicators and economic development. The Vector Autoregressive results show that tax revenue indicators were statistically significant with HDI. The study concluded that tax revenue indicators had various levels of interaction with economic development index measured in this study with greater outcome indicating positive and significant effect. The study recommended that tax revenue should be spent wisely to fund essential services like affordable housing, good roads, clean water, a reliable electrical supply, education, and basic healthcare. This would encourage the growth of numerous economic sectors, hence boosting economic growth and development. This study contributed to the body of knowledge by extending the scope of existing literature to 2023. Keywords: Tax Revenue, Economic Development, Human Development Index, Company Income Tax, Petroleum Profit Tax, Personal Income Tax And Value Added Tax.

Research purpose. There is some empirical evidence of the relationship between economic and human development at a country level. Human development is most frequently proxied by the Human Development Index (HDI). Considering the fact that HDI is a measure covering the fields of several Sustainable Development Goals (SDGs), the overwhelming idea of the research is to determine the impact of sector economic development on the achievement of SDGs. The research goal is to establish if there is a relationship between economic development, using Latvian sector statistics, and the human development of Latvia. Design / Methodology / Approach. The paper uses different types of regression analyses of the longitudinal data to determine if there is a relationship between HDI and economic development indicators in different sectors of the Latvian economy. The sample includes industry-level data on eight industries and HDI data collected from 2010 to 2020. The regression analysis was applied to HDI as a dependent variable, and a selected set of industry variables was assessed as a group of independent variables (both individual for industries and aggregated on the country level). The set included the indicators of the turnover of companies, number of companies, added value, total personal costs and number of employees in full-time employment. Findings. The findings partly support the proposal that economic development relates to human development because some factors of economic growth have formed a statistically strong relationship with HDI (added value, total personal costs, and the number of employees in full-time employment), while others have not (turnover and number of companies). The fact that some statistically proven relationships had a positive while others had a negative direction suggests that the relationship between economic development and human development is bidirectional depending on specific indicators. Originality / Value / Practical implications. There is an obvious research gap in the investigated field in Latvia and even in the Baltics. The current paper contributes to the knowledge base about factors affecting human development and enlarges the statistical data basis. Besides, this study contributes to the development of national strategic plans by determining which sectors and which indicators have a significant impact on HDI. Research information will be useful for the NAP report after 2027 for assessing the level of achievement of strategic goals, especially in the priorities “Strong families, healthy and active people”, “Knowledge and skills for personal and national growth”, and “Competitiveness and material well-being of companies”.

The improvement of quality of life and welfare of humans and achievement of economic growth and development are some of the major concerns for the countries in the world we are living. The evidences signify that the countries can acquire further achievement, which they have relied on public partnership in formulation of such important strategies and decision-making in this regard and they have prepared the ground for playing role by members of the community as the responsible and aware members. Inter alia, the subject that the public mind has been mainly preoccupied by it is the way of administration of community as well as public welfare since on the one hand, economic development is accompanied further with utilization from welfare, educational, and healthcare facilities and utilities etc by members of the community and it leads to expansion of awareness among the people; and on the other hand, the good government causes benefitting equally from the facilities and opportunities for the people and it makes the leaders and authorities to become responsive versus people and finally to prevent from expansion of economic corruption in the society. The good governance was introduced by means of World Bank model that included 6 parameters of voice and accountability, political stability and lack of violence, government effectiveness, regularity quality, rule of law, and control of corruption in this investigation that consists of independent variable in the present research and economic development comprised of 4 parameters of economic growth rate, inflation rate, GINI Index, and Human Development Index (HDI) out of which 8 leading groups of economic development introduced by Central Bank of Islamic Republic of Iran (CBI) were selected with reference to experts (PhD in economics and specialist), which are assumed as the dependent variable in the current study. The interview and using documents and evidences were employed as 2 tools for collection of statistical data and information regarding governance and development and by the aid of structural equation techniques and using LISREL software and multivariate regression method and SPSS software the results of the research findings also suggest that there is significant relationship among six elements of good governance and four parameters of economic development in Iran during years (1995–2008) in relation to first major hypothesis while regarding the second major hypothesis namely comparison among two governments, it was characterized that the effects of parameter of good governance on economic development index differ from each other in seventh and ninth governments.

Which country is more developed? Which country's foreign trade policies are more rational? In a globalized world, which country has higher added value and competitiveness in its exports? Questions like this are not easy to answer. Because there are many criteria for measuring the development of the economy and foreign trade of countries. In this context, an important index called The Economic Complexity Index (ECI) was created by Hidalgo and Hausmann to measure and compare the development of the country's economies and foreign trade. For this purpose, we test whether economic growth, foreign direct investment, Human Development Index, Economic Freedom Index cause economic complexity, vice versa in this study. We analyze annual data for the period 1996-2017 for 22 countries called Transitional Economies using the panel causality method. Considering all of Transitional Economies, according to the results of the Bootstrap Granger causality test, we were not able to determine a Granger causality relationship between economic growth, foreign direct investment, Human Development Index, Economic Freedom Index and Economic Complexity Index. However, when we consider country-specific variables defined as Transitional Economies, we identify both one-way and two-way Granger causal relationships in some countries between economic growth, foreign direct investment, Human Development Index and Economic Freedom Index, and Economic Complexity Index. Therefore, some Transitional Economies need to increase their level of economic complexity to get a larger share from global added value and increase their competitiveness. In this context, economic complexity needs to be taken more seriously by both scientists and policymakers, and decision-makers.

Introduction. The relationship between the Human Development Index, life expectancy and the level of innovative development of the economy as a whole for the countries of the world and separately for 85 subjects of the Russian Federation is considered. Materials and methods. The source of information for assessing the level of development of the innovative economy in the countries of the world was the Global Innovation Index for 2019, and in the regions of Russia – the data of the Association of Innovative Regions of Russia. The Human Development Report 2020 published by the United Nations Development Program was used to obtain information on Human Development Indices in the countries of the world. The source of information on Human Development Indices in the regions of Russia was the Analytical Note “Human Development Index in Russia: Regional Differences”, published by the Analytical Center under the Government of the Russian Federation in 2021. The source of information on the life expectancy of the population of 85 regions of Russia is the collections of Rosstat. Correlation and non-parametric analysis of variance was used to assess the relationship between the studied indicators. Results. It is shown that the Spearman correlation coefficient between the Global Innovation Index (GII) and the Human Development Index (HDI) according to the data for the countries of the world is 0.905 (significance level – <0.0001), the correlation coefficients between GII and life expectancy, both average and separately for men and women, are quite high: 0.834; 0.794 and 0.852 respectively. The correlation coefficient between the Innovative Economy Development Index (IEDI) and the HDI according to data for 85 regions of the Russian Federation is 0.578 (significance level is < 0.0001), the correlation coefficients between the IEDI and average life expectancy and separately for men are not statistically significant, but for the female population – 0.233 (significance level – 0.033). Conclusion. In the world, with the development of an innovative economy, the Human Development Index is growing, which, in turn, accelerates the development of the economy. In the world, with the growth of the level of development of the innovative economy, the average life expectancy is growing. In Russia, the relationship between the Human Development Index and the level of development of the innovative economy is rather linear, and the correlation coefficient between these indicators is much lower compared to the correlation coefficient for the countries of the world. In Russia, there is a significant positive correlation between the Innovative Economy Development Index and life expectancy only for the female population.

This study assesses the association of sustainable development (SD) with environmental technologies, forest area and developmental indictors in selected 39 economies. It develops global sustainable development index (GSDI) as an integration of environmental sustainability index (ESI), economic development index (EDI) and social development index (SDI) during 2000-2016 using composite Z-score technique. Thereupon, it explores the influence of environmental technologies, deforestation, ESI, EDI and SDI on GSDI using country-wise panel data. The results infer that there exists a high inequality in SD due to diversity in socio-economic structure of selected countries. Most developed economies have a better position in SD due to their relatively better position in environmental, economic and social developmental related variables. India, South Africa and Tunisia have low values of ESI, EDI and SDI, thus, these countries are in worst position in SD. Empirical results exhibit that SD is positively associated with environmental, economic and social development, forest area and environmental technologies. It recommended that protection of forest area maintains the quantity and quality of natural resources and provide ecological security. Accessibility of electricity for all community, discovery of environmental technologies, use of green technologies in production activities may be effective to increase socio-economic, environmental and sustainable development.

Relationship between GDP and Human Development Indices in India

Human Development Index is a composite index to measure the development of human resources in each country and four indicators of life expectancy, income per capita, the average number of years studying and hope to the number of years of education will be formed. Countries, according to the Department of Human Development Index rates countries with high human development, countries with high human development, and human development countries with medium and low human development countries are divided. Development Goal is creating conditions where people can live long and healthy life and knowledge benefit. Human Resource Development Index as one of the important indicators of economic development for each country and is considered an effective role in economic development. Importance of human development index led put review Indian economy. Trend changes every three human resource development index during the 30-year period from 1980 to 2010 of the goals of this research. In this article we will consider relationship between GDP and three indicators of human resources in India. In addition, we will evaluate relationship and mutual effects of each of the three indicators of human resource development in the Indian economy using the latest (2010) formula provided by the United Nations. GDP or income as the dependent variable and three indicators long life, health and education as independent variables in the research model have been told.

Quantifying China’s regional economic complexity

South Asia makes up nearly one quarter of the world’s population. Yet its per capita yearly electric power consumption is the 2nd lowest (just above the Sub Saharan Africa) compared to any regions and sub regions in the world. Access to power and meagre per capita consumption make South Asia one of the poorest regions in the world based on economic and human development indices. Limited indigenous energy resources of individual nations in South Asia are not enough to generate adequate power for rapid industrialization, economic and social development. Moreover, the availability of limited indigenous energy resources varies among South Asian nations. The power demand and supply also differ due to seasonal variability. With rapidly rising power demand in all South Asian countries, there are opportunities for cooperation and optimization of available generated power through cross-border power trade. This paper reviews power present generation in South Asia and highlights the potential for cross border power trade to boast regional economic development and prosperity.South Asia makes up nearly one quarter of the world’s population. Yet its per capita yearly electric power consumption is the 2nd lowest (just above the Sub Saharan Africa) compared to any regions and sub regions in the world. Access to power and meagre per capita consumption make South Asia one of the poorest regions in the world based on economic and human development indices. Limited indigenous energy resources of individual nations in South Asia are not enough to generate adequate power for rapid industrialization, economic and social development. Moreover, the availability of limited indigenous energy resources varies among South Asian nations. The power demand and supply also differ due to seasonal variability. With rapidly rising power demand in all South Asian countries, there are opportunities for cooperation and optimization of available generated power through cross-border power trade. This paper reviews power present generation in South Asia and highlights the potential for cross border power ...

Analysis of Transport and Logistics Education Regulations and Economic Development in Nigeria

Purpose—Stock market liquidity is usually considered important for countries economic development. The main aim of this study is to bring new evidence of stock market liquidity impact on economic development using a wider indicator of economic development, the Human Development Index (HDI). Design/Methodology/approach—Data used ranges from 1990 to 2015 and includes 59 countries. Nonparametric correlation tests between HDI and stock market liquidity are run for each country. Additionally, a multivariate regression analysis is performed to evaluate the impact of stock market liquidity on economic development, controlling for stock market size and economic growth. Findings—The results obtained reinforce the importance of stock market liquidity for countries economic development, increasing society’s well-being and not only its income. Further, this positive relationship increases after 2008 financial crisis, but it is not significant for developing countries. Originality/value—The main contribute of this paper is to analyze whether stock market liquidity impacts economic development besides economic growth as, instead of the usual measure for economic development, Gross Domestic Product (GDP), a more comprehensive indicator was used in the current study: The Human Development Index (HDI). In addition to the quantitative aspects of economic growth, grasped by GDP, qualitative features related with citizens wellbeing are taken into consideration with HDI. The results suggest more liquid stock markets promote lower cost of mobilizing savings and therefore facilitate better, not only more, investments.

This paper examines the Office of the Accountant General of the Federation and the relationship between the Nigerian economy and the Treasury Single Account Policy (2015-2024). The Nigerian economy has developed slowly over the years, which has led to little to no improvement in the country's residents' standard of living. The study's overall goal was to determine how the Treasury Single Account Policy affected Nigeria's economic developments between 2015 and 2024. Its specific goals were to determine whether the human development index, Gini coefficient, and poverty rate of the country's economy differed significantly between the pre-and post-implementation periods. The research utilized the design of the quantitative study. Nigerian citizens make up the study's population, while the citizens of Nigeria for the years 2015–2024 make up the sample size. The study employed secondary data that came from the World Bank's National Accounts Data, the National Bureau of Statistics, and the Central Bank of Nigeria's Statistical Bulletin. The paired sample t-test was used to assess the data. The outcome showed that, except the variable of human development index, which showed a significant difference between the periods before and after the implementation of the treasury single account policy, economic development indicators (gini coefficient and poverty rate) did not differ significantly between the periods before and after the policy. Consequently, the analysis found that the Treasury Single Using the poverty rate and Gini coefficient as stand-ins for economic development, account policy had no discernible effect on the Nigerian economy. Additionally, it was determined that the Treasury Single Account Policy had a major influence on Nigeria's economic development using the Human Development Index as a proxy for economic progress. Therefore, it was advised that government programs for human development be maintained and improved, particularly in the fields of health and education.