Balanced Economic Growth Research Articles

Globalization and the Environment: A Path to Sustainable Development for SAARC Nations

This study examines the complex connection between globalization, environmental sustainability, and international climate policy via the lens of the Environmental Kuznets Curve model. Therefore, it examines the aspects of globalization and the consequent CO2 emissions in certain South Asian countries. The paper analyses panel data from 1991 to 2023, employing multiple econometric approaches to substantiate the Environmental Kuznets Curve theory, which elucidates the inverted U-shaped relationship between economic growth and environmental pollution. The study illustrates that economic globalization facilitates technology transfers and the adoption of sustainable practices, resulting in decreased emissions. Conversely, political globalization obstructs environmental advancements due to inadequate governance and the inability to enforce global agreements. Although social globalization now exerts a minimal positive influence on environmental awareness and sustainability, there appears to be an increase in these characteristics. Therefore, the current research advocates for the advancement of contextualized methodologies, emphasizing institutional frameworks, international cooperation, and climate financing. This study contributes to the literature on balancing economic growth with environmental preservation in a highly integrated global economy and provides policy recommendations for developing countries.

The Impact of Export Diversification on Economic Growth by Provinces in Türkiye

Beyond being a national measure of success, export diversification is closely linked to regional development, local employment, innovation capacity, and economic resilience. In the current study, we investigate the impact of export diversification on economic growth by provinces in the case of Türkiye for the period 2004-2018. For the purpose of the study, we employ static panel data models using Fixed Effects (FE) and Random Effects (RE) estimators, which account for unobserved heterogeneity. The findings of the study show that there is a significant negative relationship between per capita income and export intensity (HHI and GINI). In other words, as export diversification increases, per capita incomes increase. On the other hand, the coefficients obtained for the THEIL index are statistically insignificant. Therefore, it can be argued that indices measuring different dimensions of export diversification reflect different effects despite their conceptual similarities. The findings suggest that promoting export diversification can enhance regional economic growth and resilience, indicating that policymakers should prioritize strategies that encourage diversification of export portfolios, especially in underdeveloped regions, to foster balanced economic growth.

Bridging Competitive Advantage and Sustainable Development: The Moderating Role of Value Creation for Stakeholders in Ethiopian SMEs

ABSTRACTThe pursuit of sustainable development has become a crucial priority for businesses globally. Small and Medium Enterprises (SMEs), which form the backbone of many economies, are essential in driving this agenda. However, the challenge of balancing economic growth with environmental stewardship and social responsibility is particularly pronounced for SMEs in developing countries like Ethiopia. This study explores the complex interplay between competitive advantage, sustainable development, and the moderating role of value creation for stakeholders in Ethiopian SMEs. By investigating how SMEs can generate value for various stakeholders while simultaneously strengthening their competitive edge and promoting sustainable development, the research seeks to provide strategic insights for long‐term success. Utilizing a mixed‐methods approach, data were gathered from 387 SME employees in the Oromia Regional State via a self‐administered Likert‐scale questionnaire. The analysis, conducted through structural equation modeling, indicates that competitive advantage positively affects sustainable development. Additionally, the study highlights that value creation for stakeholders significantly moderates this relationship, amplifying the positive influence of competitive advantage on sustainable development. These findings emphasize the importance of prioritizing stakeholder engagement in fostering sustainable business practices. The research contributes to understanding SME sustainability by offering actionable recommendations for policymakers, industry leaders, and academics committed to building competitive and sustainable SMEs in Ethiopia.

A multi-objective optimization approach for interprovincial carbon emission reduction in China: Considering industrial structure and ownership attributes.

Balancing economic growth with carbon emission control requires the coordination of policy preferences for economic and carbon reduction goals, as well as the low-carbon transformation of industrial and ownership structures. This study employs a multi-objective input-output optimization model to investigate the trade-offs among maximizing GDP growth, minimizing carbon emissions, and minimizing energy consumption within the planning period of 2017-2035 in China. The model accounts for the heterogeneity of industrial structures and ownership attributes, examining both national aggregates and the adjustment paths and ownership trends across different provinces. The findings reveal: (1) Sectors with high output and low energy consumption are growing, while high pollution and high energy-consuming sectors are declining, driven primarily by technological levels, followed by policy and development preferences. (2) Domestic capital expanding into high technology and capital-intensive sectors, HMT capital favoring the economically developed high technology regions, and foreign investment declining. (3) Regional adjustment in high-value or high-energy-consumption sectors are more pronounced in central and western provinces and less economically developed regions, while industries that are neither high-energy-consumption nor high-value show greater increases in resource-rich provinces with better infrastructure.

Environmental Law and Policy in BRICS Countries: Legal Analyses of Sustainable Development Goals and Enforcement Strategies’ ’Human Rights in BRICS: A Comparative Approach to International Standards and Domestic Legal Systems

This paper examines the legal frameworks and enforcement strategies related to environmental governance and human rights in BRICS countries-Brazil, Russia, India, China, and South Africa. Through normative analysis, the study explores the alignment of national laws with Sustainable Development Goals (SDGs) and international human rights standards. The findings reveal significant variations in legislative approaches and enforcement mechanisms across BRICS nations, influenced by socio-economic priorities and institutional capacities. The analysis highlights the challenges of balancing economic growth with sustainability and social equity while identifying best practices and opportunities for regional collaboration. This study contributes to the discourse on sustainable development by emphasizing the need for integrated legal approaches to environmental governance and human rights protection in BRICS countries.

Challenges and strategies for SDG 14 in brazilian ports

AbstractThe port sector is integral to both global and local economies, managing a substantial share of international trade. Given their economic significance, ports are also prime locations for advancing sustainability, with many adopting measures aligned with this objective. The integration of the Sustainable Development Goals (SDGs) within the port sector provides a structured framework for sustainability, offering specific indicators to guide progress. This study assesses the implementation of the SDGs in the Brazilian port sector, focusing on SDG 14 (Life Below Water). The data were collected through interviews with eight respondents. The findings reveal that current practices align with recognised sustainability standards, particularly addressing SDG 14 targets 14.1, 14.2, and 14.5. Key initiatives include ISO 14001 certification, monitoring of aquatic life and water quality, waste management, and environmental education programmes. Voluntary socio-environmental projects, adherence to the UN Global Compact, and partnerships with academic and regulatory bodies further demonstrate a proactive commitment to sustainability. However, significant challenges persist, such as gaps in environmental noise monitoring, the conservation of Permanent Preservation Areas (PPAs), and the adoption of Environmental DNA (eDNA) for biodiversity monitoring. Enhanced environmental reporting standards and the adoption of SMART targets are recommended to strengthen SDG alignment. This study provides a comprehensive analysis of SDG 14 implementation in Brazilian ports, highlighting both successes and areas for improvement. As sustainability practices mature, Brazilian ports are well-positioned to contribute to the blue economy, balancing economic growth with marine conservation.

The Economic Impact of Income Inequality in Eastern, Central and Western China

It is important to address one of the most common problems in economics for decades, which has been the global wealth inequality, and to promote common economic prosperity and balanced economic growth. This research examines the various impacts of income inequality on economic growth in Eastern China, and compares it with economic development in Central and Western China. Shanghai, Suzhou and Hangzhou in Eastern China have experienced significant economic transformation, but this has also exacerbated the unequal distribution of wealth and income. By analyzing economic growth, infrastructure investment, and the allocation of educational resources across regions, this paper emphasizes how these elements lead to significant economic inequalities among the Eastern, Central, and Western China. Furthermore, the paper investigates the adverse financial impacts of income inequality on consumer demand, social stability, and labor force utilization, and provides policy suggestions for fostering common prosperity and more balanced economic growth. In short, it is necessary to achieve more inclusive and sustainable economic growth through more balanced regional development policies.

How Aging and Low Fertility Influence Household Savings: A Case Study in China

This paper investigates the intricate relationship between demographic changes, particularly population aging and declining fertility, and household savings rates, with a specific emphasis on China. These demographic shifts carry significant consequences for economic growth and stability. As China's population ages, the growing demand for healthcare and pensions exerts pressure on household savings, while a declining fertility rate raises concerns about the future labor force and the sustainability of long-term savings. This paper reviews key theoretical frameworks such as the life-cycle hypothesis and precautionary savings theory, examining how shifts in population age structure influence consumption patterns, savings behavior, and overall economic resilience. Additionally, it delves into the broader socio-economic challenges posed by these demographic trends, including potential labor shortages and increased fiscal strain. By synthesizing a wide range of research, this review provides a comprehensive analysis of these demographic trends, offering insights for policymakers to promote sustainable household savings while ensuring balanced economic growth.

Implementasi Kenaikan Suku Bunga Kredit dan Investasi terhadap Pertumbuhan Ekonomi di Sumatera Utara

The aim of this research is to see how increases in credit and investment interest rates impact economic growth in North Sumatra from 2013 to 2023. Indonesia faces the challenge of balancing economic growth, price stability and job creation as a developing country. Quantitative methods were used in this research, which used secondary data from the National Center for Statistics. This method is multiple linear regression analysis. Included in the variables studied are economic growth, investment, and credit interest rates. The research results show that credit interest rates have a positive but insignificant impact on economic growth, while investment has a negative and significant impact. According to multiple regression analysis, fluctuations in credit and investment interest rates can be responsible for 37.9% of economic growth. Additional unexamined factors influence the remaining sections. This research suggests that the government and stakeholders re-evaluate investment strategies to encourage sustainable economic growth in North Sumatra.

Do national urban agglomeration policies reduce regional disparity? Evidence from nineteen urban agglomerations in China

ABSTRACT Currently, China faces the challenge of balancing economic growth with regional coordinated development. The rapid development of China’s economy has attracted widespread attention worldwide, yet issues such as the north–south divide and the decline of the northeast region have constrained the achievement of coordinated regional development. To narrow the regional development disparity, national urban agglomeration policies have received significant attention as a new urban agglomeration model. Based on panel data of prefecture-level cities in China from 2003 to 2020, this paper calculates the regional development disparity of 19 national urban agglomerations and considers the State Council’s approval of national urban agglomerations as a quasi-natural experiment, using a multi-period difference-in-differences model to assess the impact of this policy on the regional development disparity. The results shows that national urban agglomeration policies have widened the development disparity within national urban agglomerations, which remains valid after a series of robustness tests. Heterogeneity analysis reveals that the impact of national urban agglomeration policies on regional development disparity exhibits spatial heterogeneity. Specifically, compared to national urban agglomerations in the north, the policy significantly increases the regional development disparity in southern national urban agglomerations. Compared to national urban agglomerations in the development and expansion stage, the policy significantly widens the regional development disparity in national urban agglomerations that are in the optimization and enhancement stage. Additionally, the policy significantly enlarges the regional development disparity in national urban agglomerations with smaller populations and smaller areas. Further analysis finds that national urban agglomeration policies not only expand the development disparity within national urban agglomerations but also between different national urban agglomerations. Based on these findings, we recommend implementing differentiated policies to coordinate the relationships between national urban agglomerations and to prioritize overall regional coordinated development at a broader level. Highlights The State Council's approval of national urban agglomerations is regarded as a quasi-natural experiment. The national urban agglomeration policies have widened the development disparity within national urban agglomerations. The impact of national urban agglomeration policies exhibits spatial heterogeneity. The national urban agglomeration policies expand the development disparity between different national urban agglomerations.

Modeling CO2 Emissions in Nepal: The Role of Renewable Energy

Climate change and environmental degradation, largely driven by carbon dioxide (CO2) emissions, have become significant global concerns. In Nepal, the challenge of balancing economic growth with environmental sustainability is pertinent due to the country's reliance on agriculture and hydropower. This study explores the relationship between CO2 emissions, socio-economic factors, and renewable energy consumption in Nepal, utilizing advanced econometric techniques. Using a 30-year dataset from 1991 to 2020, this study employs the Dynamic Ordinary Least Square (DOLS) model to examine long-term relationships between CO2 emissions and key independent variables such as renewable energy consumption, GDP, and human development. Unit root tests (ADF and PP) are conducted to ensure stationarity, followed by co-integration and causality tests. The findings indicate a positive and significant relationship between CO2 emissions and economic growth, supporting the Environmental Kuznets Curve (EKC) hypothesis. Conversely, renewable energy consumption is found to significantly reduce CO2 emissions, underscoring its role in mitigating environmental impacts. The coefficient for renewable energy consumption (LNREC) is -5.818686. This implies that for every 1% increase in renewable energy consumption, CO2 emissions decrease by approximately 5.82%. The results highlight the importance of renewable energy in balancing Nepal's economic and environmental goals.

Sustainability in the Desert: ESG Governance Practices in Saudi Arabia's Oil Industry

Sustainability has become an important issue for companies and countries, especially in the energy sector. As one of the world's largest oil exporters, Saudi Arabia's oil industry's practices are essential. By taking Saudi Aramco (Aramco) as an example, this article explores sustainable development practices in the desert of Saudi Arabia, focusing on its strategies and results in environmental protection, social responsibility, and corporate governance. As the world's leading energy company, Aramco dominates the oil industry and has actively taken steps to address the growing challenges in environmental protection, supporting the diversity and equality of its employees and the development of local community development, and still be able to have sound financial results to pay back to its shareholders. In this article, the case of Aramco is used to explore in depth the best environmental, social, and governance (ESG) practices of energy companies, research of Aramco's ESG strategies, threats of balancing economic growth with environmental protection in resource-rich but environmentally vulnerable regions, and the difficulties of promoting labor equality would be conducted, and how the best practices can impact and inspire the sustainable development processes on a global scale would be discussed.

SUSTAINABLE DEVELOPMENT IN SOUTHEAST ASIA: THE NEXUS OF TOURISM, FINANCE, AND ENVIRONMENT

Southeast Asia's booming tourism and rapid economic growth create a unique setting to explore the interplay between economic development, tourism, and environmental sustainability. This study examines the complex interplay between tourism expansion, financial development, and environmental sustainability in Southeast Asia, specifically from 2000 to 2023. This research aims to fill gaps in previous studies, particularly within the Association of Southeast Asian Nations (ASEAN) context, and to provide a comprehensive understanding of how tourism and financial growth impact environmental outcomes in this region. The Autoregressive Distributed Lag (ARDL) model with Pooled Mean Group (PMG) specifications is utilized to analyze the long-term relationships between these factors while capturing the unique short-run dynamics of individual countries within Southeast Asia. The findings reveal intricate relationships spanning both short-term and long-term dynamics, highlighting the impact of tourism growth on environmental factors such as increased renewable energy use, Carbon Dioxide (CO2) emission, and ecological footprints. One-way causality from tourism, financial development, and renewable energy use to the ecological footprint is observed, alongside bidirectional causality between various factors. Policy implications emphasize the need for sustainable tourism practices and renewable energy integration. This research location's specific focus on Southeast Asia provides critical insights for policymakers aiming to balance economic growth with environmental conservation.

The Interaction and Sustainable Efficiency Between Tourism Systems and the Energy–Economy–Environment System: A Novel Parallel Network Super-Efficiency Slacks-Based Measure Model

Sustainable tourism entails balancing economic growth, environmental protection, and energy utilisation. However, the current interactive dynamics between urban agglomeration tourism systems and the energy–economy–environment (EEE) system, as well as the sustainable efficiency of the tourism–energy–economy–environment (TEEE) system, remain unclear. For the first time, this study employs a super-efficiency network slacks-based measure (SE-NSBM) model to interact with tourism and EEE systems, proposing a novel network structure that includes feedback variables. To validate the proposed model, this study evaluated the efficiency of the TEEE system and its subsystems in the Yangtze River Delta urban agglomeration (YRDUA) from 2016 to 2020. The study revealed significant variations in the efficiency of the TEEE, tourism, and EEE systems among cities in the YRDUA, with a discernible downward trend. The TEEE and tourism systems exhibit relatively weak coping capabilities when faced with significant unforeseen events, highlighting the urgent need to strengthen system resilience. The results also demonstrate that the new model effectively resolves the issue of efficiency overestimation in the TEEE system observed in traditional models, which tend to overestimate actual efficiency by 3%. The novel model and empirical results offer decision-makers new perspectives and practical insights into formulating sustainable tourism policies.

Degrowth Analysis on Indonesian International Tourism Destinations

Greenwashing has become prevalent as many stakeholders falsely claim to adhere to green growth principles. Green growth also often neglects human rights aspects. This study proposes degrowth as an alternative to the dominant economic growth paradigm. Degrowth, which gained popularity during the post-pandemic recovery, emphasizes sustainability, justice, and independence from capitalist growth. While green growth often relies on technology for solutions, degrowth recognizes its potential limitations. In the Global South, degrowth can support local communities and challenge neo-colonial tourism practices. Community-based tourism, slow tourism, and responsible tourism are concrete manifestations of degrowth principles. These approaches aim to benefit local communities, reduce environmental impact, and promote sustainable tourism practices. This study focuses on three Indonesian international tourism destinations, Raja Ampat, Nusa Penida, and Labuan Bajo. By analysing the discourses surrounding these destinations, the study highlights the need for a transformative shift towards more sustainable and equitable tourism practices. Degrowth offers a roadmap for achieving balanced economic growth while prioritizing ecological preservation and social justice. Keywords: Green Growth, Degrowth, Sustainability, Justice, Tourism.

Sustainable development in Algeria: Investigating challenges and potential pathways

Sustainable development has emerged as a global priority, with the aim of balancing economic growth, environmental preservation, and social equity to meet present and future needs. Algeria's reliance on fossil fuels has led to environmental degradation and economic instability exacerbated by the recent financial crisis. This study aims to investigate the constraints and strategies of sustainable development in Algeria as well as the efforts of the Algerian government to achieve sustainable development. Through an in-depth analysis of scientific publications and official texts, this research examines the country's environmental state, economic growth in the non-oil sector, and individual living environments. All of which are crucial for sustainable development. This study employs descriptive and analytical methods to asses several action plans and policies, providing a comprehensive understanding of the complexities surrounding sustainable development in Algeria. The findings of this study will shed a light on the strategies for a more diversified and environmentally conscious economy, ultimately contributing to a more stable and prosperous future for the country.

Verdicts on the optimization of corporate insolvency legal frameworks for sustainable development in Tanzania and Mauritius

Purpose Sustainable development necessitates balancing economic growth, social inclusion and environmental protection to meet present needs without compromising future generations. The 17 United Nations Sustainable Development Goals (SDGs) provide a global framework to address these challenges. This study aims to explore how optimizing corporate insolvency legal frameworks in Tanzania and Mauritius can contribute to sustainable development, focusing specifically on the intersection of insolvency law and sustainability. Design/methodology/approach The study adopts a qualitative research methodology, integrating Creditors’ Bargain Theory and Communitarian Theory to analyze insolvency frameworks. The Creditors’ Bargain Theory emphasizes the importance of creditors’ rights in insolvency proceedings, whereas Communitarian Theory highlights broader societal impacts. The research is based on an extensive literature review of 59 academic sources, legal texts and reports, complemented by primary data collected through surveys involving at least 20 legal experts, insolvency practitioners, academics and researchers from both jurisdictions. Data was analysed to identify key themes, strengths, weaknesses and best practices within the existing legal frameworks of Tanzania and Mauritius. Findings The study identifies significant disparities between the insolvency frameworks in Tanzania and Mauritius. Tanzania’s framework is encumbered by outdated laws and high burdens of proof for insolvency claims, while Mauritius has a more streamlined process but contends with the misuse of statutory demands. Both countries require reforms to address preferential claims and improve regulatory oversight of insolvency practitioners. The study highlights the need to prioritize consumer claims, set minimum thresholds for statutory demands and ensure equitable treatment of creditors. It further emphasizes enhancing regulatory frameworks, particularly in Tanzania, where insolvency practitioners operate without comprehensive guidelines, in contrast to Mauritius’s more robust system. Originality/value This study offers a unique comparative analysis of how insolvency frameworks in Tanzania and Mauritius can be reformed to align with sustainable development objectives. It provides valuable insights into how legal reforms, including the introduction of penalties and enhancement of practitioner qualifications, can contribute to more sustainable economic practices.

Digital economy, technology, and urban carbon emissions nexus: an investigation using the threshold effects and mediation effects tests

IntroductionThis study aims to explore the mechanisms by which the digital economy influences urban carbon emissions in China, with a particular focus on potential threshold effects and the mediating role of technology. As the digital economy grows, it impacts various environmental metrics, including carbon emissions, necessitating a deeper understanding of its nonlinear dynamics and implications for sustainable urban development.MethodsUsing panel data from 286 prefecture-level cities in China spanning from 2012 to 2021, we apply threshold effect models and mediation effect tests. The threshold effect model is employed to investigate non-linear characteristics of the digital economy’s impact on carbon emissions, while the mediation effect model assesses the role of technology as an intermediary in this relationship.ResultsThe threshold effect model reveals a single threshold in the impact of the digital economy on urban carbon emissions, indicating a nonlinear relationship. Initially, the influence of the digital economy on emissions is weak, but as the digital economy develops, its effect becomes more pronounced. The mediation effect model demonstrates that technological advancement can offset the increase in emissions associated with digital economic growth, thus showcasing technology’s potential to mitigate environmental impacts.DiscussionThe findings suggest that while the digital economy generally promotes urban carbon emissions, its impact is non-linear and mitigatable through technological innovation. To curb emissions in urban areas, fostering technological innovation and supporting green technology research and development are critical. Moreover, enhancing management and supervision within the digital economy sector can contribute to balancing economic growth with environmental goals. These insights are valuable for policymakers striving to harmonize digital economic expansion with sustainable environmental practices.

Low-carbon transformation and ecological safeguarding in the Yellow River Basin: Integrating biomechanical and biological insights

This research, titled “Low-carbon transformation and ecological safeguarding in the Yellow River Basin: Integrating biomechanical and biological insights” explores the interplay between economic activities, land use changes, and environmental impact. Through regression analyses and assessments of land use alterations, the study identifies significant provincial variations in factors influencing carbon emissions. In addition to the socio-economic factors, the research incorporates insights from biomechanics and biology, drawing parallels between the ecological systems of the Yellow River Basin and biological processes such as energy efficiency and resource allocation in living organisms. For instance, just as organisms optimize energy usage and adapt to external stressors, the proposed low-carbon strategies aim to optimize resource use and improve the resilience of the basin’s ecosystem. Proposed strategies for low-carbon transformation provide a practical roadmap for sustainable development, informed by biological principles like ecological balance, regeneration, and the importance of maintaining biodiversity. These principles reflect how biomechanical systems, such as musculoskeletal structures, balance energy expenditure and repair to maintain functionality under strain, similar to how ecosystems must manage resource cycles to withstand environmental stressors. The integration of socio-economic indicators, alongside biological and biomechanical insights, underscores the need for region-specific policies that consider not only economic factors but also the natural regenerative capacities of the ecosystem. The study suggests that, like biological systems that repair and adapt to maintain homeostasis, the Yellow River Basin’s ecological processes can be guided by sustainable management practices to ensure long-term resilience and stability. In conclusion, the research contributes valuable insights to the global discourse on balancing economic growth with ecological preservation in the ecologically vital Yellow River Basin, highlighting how the integration of biomechanical and biological principles can enhance both ecological safeguarding and low-carbon transformation strategies.

Balancing Economic Growth and Social Equity: A Legal and Conceptual Analysis of Indonesian Agrarian Reform in the Agribusiness Sector

Indonesia faces the persistent challenge of balancing economic growth with social equity in its agribusiness sector. This study analyzes how legal and conceptual aspects of agrarian reform policies contribute to this balancing act, particularly in the context of rising agribusiness investment and the persistence of smallholder farming. A normative juridical method was employed, incorporating statute, historical, and conceptual approaches. Legal documents, historical records, and academic literature were analyzed. Simulation data, based on government statistics and existing research, was used to model the potential impact of different policy scenarios on economic growth and social equity. Indonesia's legal framework, while promoting land redistribution and tenure security, exhibits inconsistencies that can favor large-scale agribusiness interests. This can lead to unequal access to land and resources, potentially hindering inclusive growth. Simulation data suggests that strengthening land tenure security, improving access to finance, and promoting sustainable agricultural practices can contribute to both economic growth and social equity. In conclusion, optimizing agrarian reform requires a more nuanced approach that prioritizes social equity alongside economic growth. This includes strengthening land rights for smallholder farmers, improving access to resources, and promoting sustainable agricultural practices.