Annual Economic Growth Research Articles

Unemployment Polarisation and Club Convergence in Türkiye

ABSTRACTTurkish economy has undergone massive transformation during the 2000s. Annual economic growth reached a peak of 10% in the early 2000s. However, the side effects of global financial crises and the internal macroeconomic imbalances shift the growth trajectory of Türkiye into a new path of unstable economic growth. While macroeconomic consequences are densely discussed we know less about the adjustment of local labour markets. To fill this gap, we examine the club formation of Turkish regions by analysing their unemployment trajectories during the post 2000s. Our findings show that despite rapid economic growth Turkish regions get extremely polarised and form distinct convergence clubs. Remarkably polarisation is higher for the female population. Geographically, polarisation is in the form of an isolation for the least developed south‐eastern regions and some of the developed urbanised western regions. Additionally, our robustness exercises indicate higher polarisation after 2013 as Turkish economic growth starts to become more volatile and less sustainable. Finally, our spatial extensions show that impact of spatial proximity has significant influence on the accurate extent of unemployment deprivation.

THE RELATIONSHIP BETWEEN INFLATION, ECONOMIC GROWTH AND BUDGET DEFICIT IN TÜRKİYE

Like in the past, inflation remains one of the most significant concepts affecting the welfare levels of countries today. Especially during economic crises, the price instability and high inflation rates experienced have compelled countries to work in this area. The characteristics of variables related to inflation have been studied, and many theories have emerged. Just as there are many macroeconomic factors affecting inflation, there are also macroeconomic components affected by inflation. It is crucial to determine the direction of the relationship between economic variables, as there can be both one-way and two-way relationships among these components. Policymakers aim to keep inflation levels as low as possible by shaping their policies according to these relationships. This way, countries strive to achieve minimal inflation, fostering economic growth and maintaining budget balance. Examining the relationship between inflation, economic growth, and budget deficits is essential not only for price stability but also for reducing external dependency and positively influencing growth. This study utilizes annual inflation, budget deficit, and economic growth data for Turkey from 1990 to 2022 to analyze the relationships among these variables using econometric methods. In accordance to the results of the causality analysis, a unidirectional causality from growth to inflation and from inflation to budget deficit has been identified. This suggests that growth triggers inflation, and inflation, in turn, triggers budget deficits.

Study on the Type of the type of wealth and tax

The Japanese economy is facing a new phase from a long-term recession over the past 30 years to an annual economic growth of around 2%. With the recovery of the Japanese economy, not only foreigners but also Japanese capital are returning to Japan. Already, the Japanese Composite Stock Price Index has exceeded 39000 points before the bubble burst. Changes in the yen exchange rate are also inducing the inflow of foreign capital into Japan. In this economic trend, investors are paying attention to the Japanese capital market, and in particular, the wealthy in Japan are focusing on the Japanese domestic market to increase their assets. In particular, the Japanese financial market is attracting attention as a relatively safe asset due to the unstable environment at home and abroad. According to this trend, asset management of the wealthy in Japan is also carried out in various ways. Sometimes there are considerable losses due to asset management failures. That is why it has emerged recently to use various tax savings. Companies and individuals show the same behavior, but on the contrary, the government sometimes strengthens monitoring in various ways to prevent a decrease in tax revenue. This phenomenon has recently become common in Japan. This paper will help the wealthy in Japan understand their asset management and the Japanese government's response by examining the types of asset management and measures to manage assets through tax savings. It is also expected that problems with asset management and implications for government policies will be used as reference for various countries. Therefore, this paper will focus on the asset management and tax savings of the wealthy in Japan.

Applicability of Financial Inclusion Theories and Rural Development Theories in the Implementation of the Parish Development Model (PDM) in Uganda

This article provides guidance on how to implement the Parish Development Model, which was launched in February 2022 as the government's multi-sectorial strategy to achieve socioeconomic transformation by converting 39% of Ugandan households from the subsistence economy to the money economy. Uganda, often known as the Pearl of Africa, has seen national development plans incorporate Vision 2040 goals, and it is now undertaking its third National Development Plan. To complete the 2040 vision cycle, three further identical projects must be done. President Yoweri Kaguta Museveni highlighted Financial Inclusion as one of the 17 implementation strategies, since Uganda's monetary poverty rate (the proportion of the population earning less than US$1.04 per day) has increased over the preceding nine years, from 19.7% in 2012/13 to 21.4% in 2016/17. Despite an average annual economic growth rate of 4.7%, the number of underprivileged individuals rose to 8.7 million in 2019/20 from 6.6 million in 2012/13. As a consequence, the Parish Development Model was implemented in rural regions to eliminate poverty. Financial inclusion and rural development principles can help to assist this economic growth plan. As a result, this study investigates how these principles have acted as guides for effective parish development model implementation, as well as recommendations to ensure that they are consistent with rural people's long-term aspirations. Keywords: Financial inclusion and Rural Development theories, Parish Development Model

დინამიური კონკურენციის განვითარების პერსპექტივები საქართველოში, ევროკავშირის კანდიდატი ქვეყნის სტატუსის ჭრილში

The paper discusses the theoretical foundations of dynamic competition in terms of the opportunities for innovative development at the expense of intellectual property protection and quality management, the benefits of society under the conditions of dynamic competition within the framework of the Nash equilibrium, the financial problems of establishing societies, the study of the dynamics of employment in Georgia during the transition period, the definition of corporatism and brandism, and development perspectives. The legal framework will also be studied, including the Association Agreement, the candidate statute and the negotiation phase requirements for employers, and the general content of the socially oriented economy of the European Union. The authors conclude that dynamic competition is being established in Georgia on a large scale, which contradicts the principles of free entrepreneurship, economic "freedom", laissez-faire of Schumpeter, Weber, Hayek and others, and opposes the concept of responsible consumer, and which can be perceived as a form of additional regulation in the conditions of overproduction of the market economy. In the West, in the Pareto equilibrium, on average, about 80% of GDP comes to only 20% of the population, while 80% of the population creates only about 20% of GDP on average, and the dilemma of the self-employed becomes more and more relevant in terms of socio-economic development of countries, which the development of nanotechnologies, artificial intelligence (neural networks) and robotics is also increasing. Also, based on accounting and financial reporting approaches, the principles of recognition of innovation research and development costs in the modern economy will be discussed, indicating the compatibility of their content with dynamic competition and the possibility of the state's potential role in stimulating this area. In the end, according to the authors' conclusion, only those nations that promote innovative development and which need to be stimulated in conditions of real annual economic growth of up to 4% have a future arising from evolutionary economics perspectives.

Revisiting the resource curse hypothesis from the viewpoint of green growth: The role of Fintech as the de-cursing agent

Conventionally, the resource curse hypothesis highlights the economic growth-inhibiting impacts that are often associated with the expansion of natural resource-based industries. However, not much focus has been given to assessing whether natural resource consumption hinders green growth establishment, as well. Hence, this study makes a novel attempt at evaluating the validity of the resource curse hypothesis from the viewpoint of green growth in the context of selected Sub-Saharan African countries. Notably, this study focuses on whether natural resource abundance upholds green growth in the concerned Sub-Saharan African nations, especially by reducing their annual carbon emission-adjusted economic growth levels. More importantly, this study ascertains whether Fintech development, via the channel of Fintech-based startup financing, can promote green growth in these countries and thereby act as a de-cursing agent for tackling the possible economic and environmental curses imposed by their natural resource sectors. Accordingly, by employing a recently developed two-stage instrumental variable regression method, the resource curse hypothesis is verified from the perspective of green growth establishment. On the other hand, Fintech development is found to not only promote green growth on its own but also act as a de-cursing agent that partially offsets the green growth-impeding effects associated with natural resource consumption. Furthermore, capital accumulation is identified as a green growth-restricting factor while institutional quality improvement is observed to stimulate green growth across the selected Sub-Saharan African countries. Therefore, considering these major findings, a couple of green growth-promoting policy suggestions are put forward.

A Study on the Asset Management and Taxation Types of the Rich in Japan

The Japanese economy is facing a new phase from a long-term recession over the past 30 years to an annual economic growth of around 2%. With the recovery of the Japanese economy, not only foreigners but also Japanese capital are returning to Japan. Already, the Japanese Composite Stock Price Index has exceeded 39000 points before the bubble burst. Changes in the yen exchange rate are also inducing the inflow of foreign capital into Japan. In this economic trend, investors are paying attention to the Japanese capital market, and in particular, the wealthy in Japan are focusing on the Japanese domestic market to increase their assets. In particular, the Japanese financial market is attracting attention as a relatively safe asset due to the unstable environment at home and abroad. According to this trend, asset management of the wealthy in Japan is also carried out in various ways. Sometimes there are considerable losses due to asset management failures. That is why it has emerged recently to use various tax savings. Companies and individuals show the same behavior. On the contrary, the government sometimes strengthens monitoring in various ways to prevent a decrease in tax revenue. This phenomenon has recently become common in Japan.

E-Governance for Smart Bangladesh: Prospects for Implementing the Vision in Public Administration

Despite facing challenges like urbanization and climate change, Bangladesh is thriving with a 7.3% annual economic growth rate. The government is advocating for a "Smart Bangladesh" to address resource and infrastructure management issues and foster sustainable development. The main goals include 5G internet, 100% smartphone adoption, 100% speed internet access, and cashless transactions. E-governance, leveraging ICT, plays a vital role in promoting efficiency, technical innovation, and citizen-focused services. This research aims to assess citizen engagement in e-governance and evaluate the implementation of strategies to achieve smart governance objectives. The research on e-governance for Smart Bangladesh focuses on the importance of user experience, awareness, technological integration, and community engagement. It highlights the potential impact of e-governance on citizen-government interactions. However, challenges like technical issues and rural-urban disparities feature the complexity of implementing comprehensive solutions. The research recommendations include enhancing user interfaces, increasing awareness, tailoring services to local needs, integrating innovative technologies, and promoting data-driven decision-making. These strategies contribute to a Smart Bangladesh with efficient, transparent, and citizen-centric governance.

Socio-Economic Development of Tibet in the 10th Five-Year Plan (2001–2005). Part 8

Fourth session of the 9th NPC, held in Beijing from March 5 to 15, 2001, approved the draft of the 10th five-year plan (2001–2005). The plan provided for an annual increase in China's GDP by 7 %. At the same time, the volume of the economy over five years was to increase by 40 % and amount to ¥ 12.5 trillion in 2005. Plan targets were largely met and exceeded. The average annual economic growth rate was 9.5 %, significantly higher than the world average (3.8 %). The volume of GDP in 2005 amounted to ¥ 18.2 billion.The standard of living in Tibet in the years under review was about two times lower than the Chinese average. Therefore, the region was provided with advanced growth rates of 12 % per year. The main event of the five-year plan in Tibet was the construction of the Qinghai-Tibet railway.

A Study on Time-Varying Synergy of Energy Consumption, Economic Growth, and CO2 Emissions in China

Since its reform and opening, the Chinese economy has witnessed unprecedented development. This long-term high-speed development has significantly impacted the environment. In the process of energy development and consumption, the environment has been severely polluted, and greenhouse emissions have increased. This has resulted in environmental imbalances such as global climate change, rising sea levels, and extreme weather. Using annual energy consumption (EC), economic growth (GDP), and carbon dioxide (CO2) emissions in China from 1981 to 2021, this study employed the maximum likelihood estimation method to estimate the parameters of the nonlinear MS-VAR model. Cointegration tests, regimes analysis methods, and impulse response function analysis methods were adopted to explore the differences or similarities in the dynamics of the three under various regimes. The research results are as following. (i) The cointegration test findings demonstrate a long-term equilibrium relationship among EC, economic growth, and CO2 emissions. (ii) Regime analyses exhibit that there are three regimes: “low-level regime,” “medium-level regime,” and “high-level regime.” The three regimes have a mutual transfer transmission mechanism that exhibits nonlinear properties. (iii) Impulse response function analyses show that external EC and GDP shocks favorably impact the other two variables in all three regimes. EC in all three regimes is negatively impacted by external CO2 shocks. Moreover, in the “low-level regime,” the relationship between CO2 and GDP has an inverted U-curve, whereas in the other two regimes, the relationship has a negative association. This study can help China formulate reasonable and effective CO2 emissions reduction and energy policies and successfully achieve the emissions reduction goal of the 14th Five Year Plan as well as dual carbon goals.

Effect of Total Active Voice Call Subscribers on Economic Growth in Nigeria: An Application of Cross-Sectional Panel Data Model

This study assesses the effect of active voice calls on Nigeria's economic growth rate. The data utilized in the study was extracted from telecom reports produced by the Nigeria Bureau of Statistics (NBS), and it was gathered between 2017 and 2021, the period following the economy's first spell of consecutively negative growth since it emerged from recession. The data were subjected to regression using fixed effect (FE), random effect (RE), and pooled ordinary least squares (POLS). The study's findings showed that the RE regression model was the most effective. Additionally, it was shown that there is a positive and significant correlation between the total number of total number of active voice call subscribers (TNAVCS) and Nigeria's annual economic growth rate (GR). The conclusion suggests that as the total number of active voice call subscribers rises, so does Nigeria's annual economic growth and development, with the total number of active voice call subscribers accounting for more than 86% of the annual economic growth rate and the stochastic error term accounting for the remaining percentage. Therefore, it can be concluded that the main elements that have favorably impacted Nigeria's annual economic growth rate during the study period are the total number of active voice call users. Therefore, this study suggested that the total number of active voice call users is a significant factor that favorably influences Nigeria's annual growth rate.

The Contribution of Students and Educators to Economic Sustainability Based on their Awareness of their Own Role in Economic Development

Economic sustainability based on the triple bottom line is not new, but topical in the scientific discussion on the development of economic growth. International organisations globally, together with governments, budget an increase in funding for education as the main tool for sustainable annual economic growth. On the other hand, it is difficult to measure the outcome of financial effort, as it is an intangible asset. The current research is based on interviews with 20 professors and 20 students at Klaipėda University and LCC International University, to learn how they understand their role in economic development, and to verify the dependency of their desire to contribute more to their awareness. The findings of the qualitative research show that productivity by both students and educators depends on their awareness of their economic role. On the other hand, as the study shows the limitation of participants’ perception of their economic role, its promotion is suggested.

Determinants of Journalists’ Trust in Public Institutions: A Macro and Micro Analysis Across 67 Countries

ABSTRACT Scholars have repeatedly expressed concern about the societal consequences of negative media coverage toward public institutions and political actors. Yet, there remains a lack of systemic understanding about the determinants of this cynical attitude. To examine this issue, we combine aggregate data on political and economic performance with Worlds of Journalism Study (WJS) survey data on journalists’ institutional trust, watchdog and loyalty roles, editorial autonomy, professional experience, and news media ownership. Derived from interviews with 27, 657 journalists from 67 countries included in the second wave of the WJS (2012–2016), results show that democracy and press freedom are negatively correlated with journalists’ institutional trust. Quite notably, autonomous and watchdog journalists are less trusting than loyal journalists. The findings also suggest that corruption levels, annual economic growth, and type of media ownership are essential determinants in this regard.

Greening China: Environmentally adjusted multifactor productivity in the last four decades

This paper links "green" and "growth" to produce a measure of economic and environmental performance and natural resource depletion based on an expanded accounting framework: the environmentally adjusted multifactor productivity (EAMFP), which provides a new perspective to examine China's post-1978 economic growth. The results show that China's annual economic growth would be overestimated by 1.14 percentage points over the past four decades averagely. The EAMFP growth maintains positive at an average annual rate of 3.07%, moderating the MFP growth by 1.11 percentage points. It could be further improved compared to the EAMFP-driven economic growth in OECD countries. Benefiting from the greater efforts in environmental and natural resource regulation since 2013, China's growth may be revised upwards by 0.43 percentage points. The contribution of natural capital to economic growth falls from 0.41% to 0.06% per year, and the adjustment of pollution changes from negative to positive.

An Analysis of the Relationship between Annual Carbon Emissions and Economic Growth in Canada

An Analysis of the Relationship between Annual Carbon Emissions and Economic Growth in Canada

The Awareness and Knowledge on Artificial Intelligence among Accountancy Students

Artificial intelligence (AI) has impacted many sectors such as education, healthcare, political, social and economic that can give either positive or negative side effects. According to research by Accenture on the impact of AI in 12 developed countries, it concluded that AI has the potential to double annual economic growth by 2035. Another research by PricewaterhouseCoopers (PwC) claimed that global GDP could be up to 14% higher in 2030 as a result of AI. Since AI plays an important role in our daily lives, the awareness and knowledge about this technology must be updated from time to time. Therefore, the aim of this study is to analyze the awareness and knowledge on AI among accountancy students with the main intention to instil and develop their interest towards AI. For data collection, all accounting students in UiTM Tapah were selected to be respondents of the study that used questionnaires as the survey instruments. The results revealed that accounting students aware about AI with moderate knowledge about it. Nevertheless, majority of the respondents agreed that AI has greater impact and benefit people in many areas. The findings of this study provide some insights and value added in shaping the interest and knowledge especially among accounting students towards AI technology.

Forecasting economic growth at provincial level in Vietnam: A systematic dynamics modeling approach

Forecasting annual economic growth is an important task to help local governments set goals and policies for socio-economic development. This study proposes and develops the forecasting method for economic growth at the provincial level in Vietnam named Dynamic Systems Modeling. It is an effective method to analyze the dynamic interactions between economic growth and related factors, which is useful for forecasting economic growth. This method is a combination of traditional statistics and machine learning that brings many advantages in forecasting. Specifically, (1) This method is used to forecast panel data, which helps to control both temporal and spatial problems of the forecast object; (2) This forecasting method bases on the comparison and selection of many different models; (3) Forecast results are verified, ensuring reliable forecast results. Through the data set collected from the Vietnam General Statistics Office from 2016 to 2020, we apply the Dynamic Systems Modeling method to forecast two important economic growth indicators at the provincial level, which are GRDP and GRDP per capita. The analysis and forecasting evaluation results show that the Dynamic Systems Modeling is an effective tool for forecasting economic growth at the provincial level in Vietnam.

Dynamic simulation of industrial synergy optimisation pathways in Beijing-Tianjin-Hebei region driven by water environment improvements

China is promoting the coordinated development of the Beijing-Tianjin-Hebei region as a national strategy project; however, water scarcity and water quality problems will become a bottleneck restricting high-quality development. This study aimed to explore a feasible industrial synergy optimisation pathway to realise the collaborative development of economic growth and water environment improvement, combined with incentives for environmental efficiency improvement and reclaimed water utilisation. Research methods integrate input-output modelling, system dynamics, and multi-objective programming to construct a complex multi-region model. A dynamic simulation measure was adopted to simulate the economic and environmental impacts of different approaches that mix from 2020 to 2030 under water resource environment constraints. According to the simulation results, the annual economic growth rate of the entire region can exceed 6.1%, and the emission intensities of water pollutants decrease by more than 60.0%. In addition, traditional manufacturing industries that achieve cross-regional synergy can still release location advantages without negative environmental impacts. Furthermore, regional collaborative development optimises the allocation of water resources and alleviates water stress. Moreover, the pollutant emission reduction effect of source control in Hebei was more effective than in other cities. Finally, reclaimed water, as the end treatment measure, has the largest marginal effect on improving the trade-off between economic and environmental improvement in the long run. This study provides a new approach for multi-regional industrial synergy development and optimal allocation of resources and contributes to the high-quality development of the watershed.

The Effects of Demographic Dynamics on Economic Growth in EU Economies: a Panel Vector Autoregressive Approach

This study estimates the effects of demographic dynamics on economic growth, with a focus on the working-age population and life expectancy in 19 European Union economies for 1970–2020 and 2020–2050, using a panel vector autoregressive (PVAR) model as the analytical methodology. The main findings are as follows. First, the PVAR estimation identifies positive effects of the growth of the working-age population share and the extension of life expectancy on economic growth. Second, the contribution ratio of the demographic effects to economic growth for past population bonus periods is approximately 15% on average in this study, which is comparable to the ratios found in previous studies. Third, the projection for 2020–2050 shows that the magnitude of the negative demographic effect on annual economic growth due to the population onus is −0.385 on average among all sample economies. The main policy implication of this study is that the EU economies that have already entered the population onus phase of the demographic transition need to mitigate the negative effects of the decline in the working-age population share.

Construction of Mathematical Model of Enterprise Marketing Economic Analysis Based on Neutral Analytic Hierarchy Process

With the gradual opening of the market, the overall development of Chinese enterprises is “rapid development, gradual improvement of industry status, and promising prospects.” Not only the development of Chinese local enterprises is getting better and better, but also a large number of foreign-funded enterprises are pouring into the domestic market, and the competition pressure on domestic enterprises is increasing. The purpose of this study is to study the effect of neutral AHP on the establishment of the mathematical model of enterprise marketing economic analysis and to use the method of structural judgment matrix and hierarchical structural model to put forward a concrete practical analysis of enterprise marketing cost and business performance. The experimental results of this study show that the establishment of an enterprise marketing economic mathematical model based on AHP can help group companies maintain an annual revenue growth rate of more than 5.8%, while the annual revenue economic growth rate is less than 5% for companies that establish a mathematical model.