Balanced Economic Growth Research Articles

Fintech, natural resource rents, renewable energy consumption and environmental quality: A perspective of green economic recovery from BRICS economies

The concerns related to environmental problems result in new technological and financial trends. In this context, fintech has come up as a substitute which happens to strike a balance economic growth and environmental sustainability that is particularly aimed by government, international communities and organizations. Furthermore, natural resource-abundant economies experience adverse environmental issues that would further necessitate the economies to find out the credible solution. Thus, against the backdrop, we explore the linear (symmetric) and non-linear (asymmetric) associations among variables such as consumption of renewable energies (CRE), natural resource rents (NRR), environmental policy implication (EPI), and Financials technologies (FTech) from the perspective of BRICS economies. Over the period from 2016 to 2023, the study applies CS-ARDL and NARDL models to explore the possible linearity and non-linearity of associations. We find that Fintech and NRR enhance economic recovery but deteriorate the environmental quality. However, strict environmental policy implications reduce economic growth and enhance climate quality. Finally, consumption of renewable energies contributes to higher economic growth and better environmental quality.

Farming for the Future: Assessing Sustainable Practices among Farm Tourism Sites in Bagabag, Nueva Vizcaya

Farm tourism, an evolving sector within agriculture, has significantly impacted rural economies by transforming traditional farms into tourist destinations. This research investigated farm tourism practices in Bagabag, Nueva Vizcaya, focusing on evaluating sustainable practices and identifying the benefits and challenges faced by farm operators. The introduction addressed the evolution of farm tourism, emphasizing its role in economic diversification and sustainability. Historical and contemporary examples were highlighted to illustrate the connection between farm tourism and sustainable agricultural practices. The study employed a descriptive research design, incorporating qualitative analysis and thematic data treatment. Observations and interviews with farm owners, stakeholders, and tourists were conducted to capture narratives about farm operations and sustainability practices. This methodology aimed to provide a comprehensive analysis of sustainability challenges and benefits within Bagabag’s farm tourism sector, offering context-specific recommendations for enhancing sustainable practices. The results revealed that farm tourism sites in Bagabag utilized diverse sustainable practices, such as organic farming and crop cycling, which enhanced economic and environmental outcomes. These practices contributed to food security, job creation, and community engagement, while long-term goals focused on self-sufficiency and innovation. Despite successes, the farms faced challenges including fluctuating visitor numbers, management issues, and environmental concerns. The study concluded that integrating sustainable practices was essential for the viability of farm tourism, balancing economic growth with social and environmental responsibilities. Recommendations emphasized the importance of innovation, sustainable practices, and effective management to ensure long-term success and appeal to visitors.

THE TERRITORIAL ASPECT OF THE DEVELOPMENT OF THE LOGISTICS SUPPLY CHAIN

This article explores the role of territorial logistics in the integration of Kazakhstan's regions into the global economy. The main purpose of the article is to consider the territorial aspect of the development of the logistics supply chain in Kazakhstan and its impact on ensuring sustainable and balanced economic growth. The analysis of the key problems and challenges facing the country is carried out, as well as recommendations for improving territorial logistics to support the development process are proposed. The study includes an analysis of the concept and strategy for the development of the transport logistics industry in Kazakhstan until 2030. The authors consider government programs such as «Nurly Zhol» and the National Development Plan until 2025 to identify key challenges and opportunities related to the country's territorial logistics and transport system. To achieve this goal, various analysis methods are used, including document analysis, bibliometric analysis and structural synthesis of transport systems. That article emphasizes the importance of territorial logistics to ensure sustainable development and increase the efficiency of the use of territorial resources. Territorial logistics is considered as an integrated approach to the management of spatial aspects of economic activity, including the organization and optimization of transport flows at the regional and urban levels. In conclusion, the article highlights new ways for the research and development of this field in Kazakhstan. A review of current research in the field of territorial logistics shows the versatility of research interest and the importance of further research for the development of effective strategies for managing logistics processes at the territorial level.

The impact of tax incentives on GDP in Turkey

This article investigates the effectiveness of tax incentives in promoting sustained economic growth in Turkey – a topic marked by ongoing debate and uncertainty. With tax incentives widely employed to stimulate economic activity and attract investments, there is a critical need to assess their impact on the Turkish economy. Amidst challenges faced by the Turkish economy, the research unfolds dual objectives – advocating for tax incentives as economic stimulants while acknowledging concerns about potential reductions in government revenue. The study aims to scrutinize current tax incentive policies, evaluating their success in achieving intended objectives while balancing economic growth with government revenue sustainability. Through a rigorous empirical analysis, the research endeavors to contribute novel insights to the existing knowledge base, shedding light on the intricate relationship between tax incentives and economic growth. The research employs rigorous empirical analysis as its primary methodology. By scrutinizing the intricate relationship between tax incentives and GDP as the main indicator of economic growth, the study seeks to unravel patterns, implications, and potential trade-offs associated with these fiscal policies. The significance of the study extends to the broader discussion on macroeconomic stability, offering valuable insights for evidence-based policymaking on a global scale. As Turkey's strategic position in global trade and economic integration is paramount, understanding the impact of tax incentives becomes pivotal. The study's outcomes may guide not only Turkish policymakers but also those engaged in regional economic partnerships, promoting collective growth and development.

Exploring the link between economic policy uncertainty, financial development, ecological innovation and environmental degradation; evidence from OECD countries.

Governments have been concerned with balancing economic growth and environmental sustainability. Nevertheless, it has been noted that sustainable development is interconnected with economic variables, the institutional framework, and the efficacy of ecological regulatory measures. This study experimentally examines the correlation of economic policy uncertainty (EPU), financial development (FD), ecological innovation (EI), corruption (IQ), foreign direct investment (FDI), trade openness (TR), natural resource rent (NRR), and CO2 emission. We utilized longitudinal data from the Organization for Economic Cooperation and Development (OECD) countries from 2003 to 2021 to address the existing research void. This study used sequential processes of the linear panel data model (SELPDM) and the SYS-GMM approaches in obtaining consistent and efficient results. The inverse U-shaped relationship between FD and environmental degradation (ED) is confirmed by the long-term elasticity estimates generated by the SELPDM method Elasticity estimates for the long-run show that rigorous ecological regulations, higher renewable energy utilization, higher FD and less corruption, an interaction between FD and rigorous ecological regulations all contribute to reduced ED. Its also being observed that both EPU, FDI and trade openness are positively affecting the ED. It confirms the idea of pollution refuge between the OECD countries. The causality test results show that corruption and FD had reciprocal links with ED, while FDI, trade openness and strict environmental policies were also found to have bidirectional linkage with ED. To achieve sustainable development and prevent environmental degradation in the long term, we propose implementing an institutional financial framework and FD in OECD nations. This may be accomplished by focusing on the effectiveness of environmental regulatory laws and creating a conducive institutional environment.

Sustainable development and industrial concentration: Case of Russian industrial regions

Sustainable development of regions is a key goal of the state policy aimed at ensuring balanced economic, social and environmental growth. An important tool for achieving this goal is the analysis of the industrial structure of regions taking into account the concentration of industries and their environmental impacts. This paper examines the relationship between the localization coefficient, which characterizes the concentration of various industries in the regional economy, and the industrial and environmental profile of industrial regions of Russia. The purpose of this study is to determine the relationship between the industrial specialization of a region, the technological development of industries and their impact on the environment, as well as to formulate recommendations for the formation of effective strategies for sustainable development. The study is aimed at identifying the key factors influencing the sustainability of regions, with an emphasis on the technological development of industries, the level of toxicity of emissions and their role in the environmental stability of territories. The analysis is based on data on the localization coefficient, which allows assessing the degree of concentration of industries in the region and identifying dominant, supporting and promising types of economic activity. Along with this, an assessment of the industrial and environmental profile of the regions is carried out, which takes into account the levels of technological development of industries and their environmental impact. An integrated approach to assessing industrial potential and environmental impacts allows not only to identify key drivers of regional development, but also to identify potential risks to sustainable growth.

From Bonus to Onus: Taiwan’s Demographic Transition and Economic Development from 1950 to 2020

The driving force behind population change lies in fertility. Over the past 70 years, Taiwan has undergone a fertility transition, rapidly declining from a high peak of natural fertility levels to an ultralow rate. This transition has released a substantial labor force and lead to a significant shift in resource allocation, contributing to rapid economic development in the late 20th century. During the same period, Taiwan’s population aging has progressed faster than that of most countries worldwide. The dependency ratio has negatively impact economic development, making social security an important aspect of resource allocation. The changes in age structure have introduced the concepts of “demographic bonus” and “demographic onus”. As a vibrant economy with a population of over 23 million, Taiwan has enjoyed the demographic bonus for more than a quarter of a century but is now facing the challenges of an aging society and declining fertility rates towards demographic onus. This article examines demographic transitions, economic performance and development in Taiwan from 1950 to 2020, elaborating on the definition, criteria, and quantitative delineation of the demographic bonus and demographic onus. It utilized population and economic statistics for a comparative analysis of the historical evolution, current situation, and prospects of the bonus and onus periods in Taiwan, providing a comprehensive narrative of its historical and empirical developments. Finally, the study underscores the complexity of balancing economic growth with demographic sustainability, emphasizing the necessity for multiple policy adjustments to address the adverse effects of demographic transitions.

The Role of Social Media, Tourism Facilities, and Blue Economy in Promoting Sustainable Marine Tourism: A Case Study of Benan Island Village

Integrating sustainable practices in marine tourism has become increasingly essential in promoting environmental stewardship and long- term economic benefits. This study explores how social media, tourism facilities, and the blue economy collectively influence visits to Benan Island Village, Indonesia. By employing a structural equation model (SEM), the research examines both direct and indirect relationships between variables. Results indicate that social media and tourism facilities significantly affect tourist visits, both directly and indirectly, through the mediating role of the blue economy. The findings suggest that promoting sustainable tourism practices, aligned with blue economy principles, not only attracts more visitors but also enhances their experience, fostering repeat visits. This study contributes to the growing body of knowledge on digital marketing strategies for sustainable tourism, offering practical implications for policymakers and stakeholders aiming to balance economic growth with environmental preservation in marine destinations.

Spatial patterns and influencing factors of financial agglomeration in Guangdong-Hong Kong-Macao Greater Bay Area.

The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) represents a significant economic zone with a diverse financial landscape. Understanding the spatial distribution of financial resources within this area is crucial for promoting balanced economic growth and financial development. This study investigates the spatial patterns of financial agglomeration in the GBA, identifying key influencing factors and assessing their impact on the region's financial landscape. We employ the entropy value method to evaluate financial agglomeration levels across the GBA's cities. Additionally, we use spatial econometric techniques to analyze the spatial correlations and the Geo-Detector model to determine the primary factors influencing financial agglomeration. The analysis reveals an overall increase in financial agglomeration, with significant disparities among cities. Key factors driving this agglomeration include transportation infrastructure, overseas trade, foreign direct investment (FDI), and technological advancements. Hong Kong and Shenzhen display notable unevenness in the distribution of financial industries. The interplay between finance, technology, and industrial sectors suggests considerable development potential. Understanding and optimizing the spatial distribution of financial resources is essential for fostering high-quality financial development and sustainable economic growth in the GBA. This study provides insights that can inform policy decisions aimed at enhancing financial integration and cooperation within the region.

Seeking Economic Balance: Spatial Analysis of the Interaction Between Smart Specialisation and Diversification in Romanian Mountain Areas

Seeking Economic Balance: Spatial Analysis of the Interaction Between Smart Specialisation and Diversification in Romanian Mountain Areas. This research article delves into the intricate relationship between smart specialisation and economic diversification within the unique context of Romanian mountain regions. As regions characterized by their geographical isolation and distinctive socioeconomic challenges, mountain areas in Romania stand as vital territories where balanced economic development is crucial. In this study, we employ a comprehensive spatial analysis to explore how the European Union’s concept of "smart specialisation" and the imperative for diversification intersect within these mountainous areas. The investigation combines both qualitative and quantitative methods, utilizing spatial data and GIS techniques. Findings reveal the intricate interplay between smart specialisation and diversification efforts, highlighting the necessity for adaptable policies that respond to the unique challenges and opportunities present in Romanian mountain areas. The study also offers recommendations for policymakers, emphasizing the importance of custom-tailored approaches that consider the geographic, social, and economic idiosyncrasies of these regions. Ultimately, this research article contributes to a deeper understanding of the complex relationship between regional development strategies and the specific needs of mountainous territories. By shedding light on the practical implications of smart specialisation and diversification in Romanian mountain areas, it offers valuable insights for policymakers, researchers, and practitioners working towards sustainable and balanced economic growth in similar regions worldwide. Keywords: smart specialisation, diversification, regional development, economic growth, mountain areas

The Influence of Geographical Location and Economic Location on the Industries of Representative Resource Cities in the Pearl River Delta Region

The Pearl River Delta, a prominent economic powerhouse in China, is home to resource-rich cities like Guangzhou, Shenzhen, and Zhuhai. This study explores how geographic and economic location profoundly influence the industrial development of these cities, shaping their economic landscape. Geographic positioning, defined by factors like proximity to coastlines, natural resource distribution, and transportation networks, plays a pivotal role. Coastal cities excel in manufacturing and trade, while those with fertile land thrive in agriculture and tourism. Economic factors such as market demand, labor availability, cost competitiveness, and access to capital also significantly impact industrial composition. These factors interact dynamically, fostering industrial clusters, influencing transportation infrastructure, and guiding resource utilization. Based on these findings, recommendations for optimized industrial planning are proposed, including industry diversification, infrastructure enhancement, environmental considerations, and urban integration. Policy suggestions aim to balance economic growth with environmental sustainability, workforce development, innovation promotion, inclusive growth, and regional collaboration. This research provides valuable insights for policymakers and urban planners to formulate sustainable development policies in the Pearl River Delta and similar regions, ensuring continued economic prosperity.

South Sea Pearls in Lombok, Indonesia

The rich marine resources of Indonesia, epitomized by the South Sea Pearls (SSP) of Lombok, have highlighted the country's vast potential in the jewellery and tourism sectors. This study delves into the 'aquaculture tourism' concept by exploring the symbiotic relationship between pearl farming and tourism in Lombok, focusing on the critical role of Public Relations (PR) in amplifying this nexus. Through consultations with multiple stakeholders, this research identifies the power of PR to craft a compelling narrative surrounding the unique qualities of Lombok's pearls, emphasizing their origins and sustainable farming practices. Key findings suggest that strategic PR can bridge the understanding between tourists, local communities, and industry stakeholders, by fostering two-way communication. The emphasis on sustainable and harmonized practices resonates with global sustainability trends, positioning Lombok as a model for integrating luxury with eco-conscious tourism. This research is a template for regions looking to balance economic growth with environmental responsibility, advocating for a future where luxury and sustainability coexist harmoniously.

Role of green finance in enhancing the sustainability in the mining sector in Asia

This study delves into the influence of green finance on the mining sector across 12 Asian economies, examining data from 2000 to 2022. Employing the CUP-FM (continuously updated full modified) approach, we uncover a significant correlation: a 1% increase in the green finance market size is associated with a reduction in CO2 emissions from mining. This implies that a larger green finance market fosters sustainable investments and cleaner mining technologies, thereby decreasing the carbon footprint. Additionally, the growth of urban populations is linked to a 0.14% increase in CO2 emissions from mining, underscoring the imperative of sustainable urban development. Moreover, the development of information and communication technology (ICT) shows promise, correlating with a 0.50% reduction in CO2 emissions, highlighting the role of technology in promoting sustainability. However, GDP growth is associated with a 0.04% increase in emissions, emphasizing the challenge of balancing economic growth with environmental responsibility. To advance sustainability, Asian economies should concentrate on expanding the green finance market, enhancing digitalization, employing AI for efficient green financial tools, and promoting green power generation in urban areas.

Analysing of the territorial competitiveness index in Izmir through dynamic model

Transition towards more sustainable and resilient economies is crucial to provide sustainable economic development by considering environmental protection and social well-being. There is an increasing focus on the concept of territorial competitiveness that encompasses the aspects of environmental, social, and economic sustainability. Thus, this study aims to analyse the factors affecting the territorial competitiveness index in the Izmir town. To facilitate a comprehensive analysis of the factors that impact territorial competitiveness, a systematic approach is employed through the use of a system dynamic model. This model enables the exploration of the complex and dynamic relationships between key parameters, providing insights into their interdependencies and how they cooperatively influence the territorial competitiveness index. The results show that Gross Domestic Product growth rate, renewable energy production and technology innovation index is increased rapidly. This increase caused by development of social well-being in the region. However, sustainable land use and waste is decreased and therefore CO2 is increased in the 2010 and 2027. Besides, territorial competitiveness index is expected to increase till 2027 since subsidies in energy and material (re)use, efficient use of resources (circular economy), achievement of economic development and technological investments. Governments and businesses should adopt sustainable strategies for improving territorial competitiveness index and balancing economic growth with environmental protection and social welfare in the regional context.

Sanatan Economics: An Eternal Economic Order

Abstract Subject and purpose of work This short paper deals with Sanatan Economics and explains its importance and why Sanatan Economics should be studied. Materials and methods The work is based on the principles of Sanatan Dharma. The content is based on the Sanatan Scriptures, available literature, and the authors’ understanding of Sanatan Economics. Results Sanatan economics (in a narrow sense, it may be called Hindu Economics) deals with ethical principles, self-sufficiency, balanced economic growth, and responsible use of resources while considering the broader societal and moral context of economic activities. It should be used for the betterment of human life and positive societal change in terms of economic order, because sustainability, balanced economic growth, value-based economic decisions, vocals for local, self-sufficiency, and moral and ethical decisions are the needs of the present economic order. Conclusions The study of Sanatan Economics enlightens the path for the betterment of societal economic change.

Dampak Sosial dan Ekonomi Minimnya Angkutan Umum Terhadap Masyarakat Kota Palangka Raya

This research examines the social and economic impacts of the lack of public transport on the people of Palangkaraya City. The lack of public transport in the city has become a major impediment to mobility, resulting in higher living costs and longer travel times. Using qualitative methods, this study evaluates how the lack of public transport affects the daily lives of residents, including access to employment, and education.The results show that the lack of public transit has led to increased use of private vehicles, which contributes to traffic congestion and air pollution. In addition, low-income residents who cannot afford private vehicles or pay expensive transportation fares become isolated and experience greater economic hardship. Based on this research we recommend improving public transport infrastructure, developing more efficient routes and schedules, and subsidizing fares for low-income groups. In addition, cooperation between the government, private sector, and civil society is needed to create sustainable and inclusive transportation solutions. mproving the public transport system is expected to improve the quality of life of Palangkaraya citizens and support more balanced economic growth.

Reconciling Development and Decarbonization: An Examination of China's Policy Options for Curbing Emissions While Sustaining Supply Chains

China faces the challenge of balancing economic growth while meeting carbon emission reduction targets. This essay analyzes current Chinese government policies aimed at reducing emissions, including supply-side reforms, renewable energy subsidies, and awareness campaigns. It argues these policies have limitations, such as only temporary emissions reductions from supply cuts, high costs of subsidies, and lack of infrastructure to support consumer adoption of electric vehicles. To improve outcomes, the essay recommends implementing a carbon tax or cap-and-trade system, choosing the optimal policy based on demand elasticities. It also suggests subsidizing a transition from coal to electricity for heating in rural areas. In conclusion, modifying existing policies and implementing new market-based and technological solutions can help China achieve its twin goals of reducing emissions while maintaining economic growth. The essay provides a thoughtful analysis of the issues and policy trade-offs China faces in balancing environmental sustainability and development.

Efficient ANFIS-Driven Power Extraction and Control Strategies for PV-BESS Integrated Electric Vehicle Charging Station

Amid escalating concerns over global warming and climate shifts, the imperative for advanced transportation solutions intensifies, aiming to balance economic growth and environmental preservation. The worldwide upsurge in electric vehicle (EV) adoption reflects this transformative aspiration, yet relying solely on fossil fuel-based EV charging infrastructure falls short of addressing climate challenges. In response, Multi Energy Integrated EV Charging Stations have emerged as a pragmatic solution, seamlessly blending renewable energy sources, grid power, and EV charging needs. This study proposes a meticulously crafted charging station design employing Adaptive Neuro-Fuzzy Inference System (ANFIS) technology for voltage-controlled Maximum Power Point Tracking (MPPT), coupled with Type 3 & 2 controllers, which collaborate in harmonious precision to streamline EV charging dynamics and Neural Network-based grid management. The design is meticulously assessed and evaluated using MATLAB/Simulink, presenting a promising avenue for sustainable and efficient EV charging infrastructure in the face of evolving energy demands and environmental concerns.

The extrication of complex dynamics and the impact of government policies on tourism supply chain behavior for sustainable tourism in Zimbabwe

AbstractIn the global pursuit of balancing economic growth with environmental and social sustainability within the tourism sector, sustainable tourism has garnered paramount attention. This research delves into the complex interplay among government policies, tourism supply chain behavior, and sustainability dimensions within the context of Zimbabwean tourism. A quantitative approach was employed, collecting data from 721 Zimbabwean tourism supply chain representatives using stratified random sampling and the Krejcie and Morgan table a method of determining the sample size. Questionnaires were distributed via Google Forms, and structural equation modeling (SEM) was utilized for data analysis. The results provide strong empirical evidence that government policies have a significant positive effect on sustainability dimensions related to the tourism industry. The data indicates robust positive relationships between government policies and economic, environmental, and social sustainability. Furthermore, tourism supply chain behavior is shown to be a meaningful mediator between government policies and multiple sustainability outcomes. This emphasizes the significance of collaborative efforts, responsible practices, and harmonized actions within the tourism supply chain in achieving sustainable tourism. The study illuminates avenues for improving tourism sustainability, enhances policy makers and readers understanding on how policy‐driven efforts and tourism supply chain dynamics jointly impact tourism sustainability, there by emphasizing the need for coordinated actions.

Determining factors of foreign direct investment in Emerging Market Asia: A panel data analysis (2005-2020)

Foreign Direct Investment (FDI) is recognized as a major force that integrates developing countries into the world economy and is expected to be a key factor in driving sustainable and balanced economic growth. Emerging Market Asia countries are the host countries that receive the highest inflows of Foreign Direct Investment (FDI) compared to other emerging market countries. Even in crisis conditions, emerging market countries, especially the Asian region, are still the destination for investment because of their resilience to crisis shocks. In analyzing the determinants of Foreign Direct Investment (FDI), the variables used are Market Size, Trade Openness, Interest Rates, Control of Corruption, Education Levels and Telecommunication Infrastructure. The analytical method used is the Fixed Effect Model (FEM) Data Panel. The results of the study show that market size, corruption control and telecommunications infrastructure have a positive and significant effect on foreign direct investment inflows. The Education Level variable was found to have a negative effect on FDI inflows. While the variables of Trade Openness and Interest Rates have no significant effect. The implications of this research are that host country governments need to create an investment-friendly environment with transparent bureaucratic conditions to increase the trust of foreign investors. Additionally, governments also need to provide facilities that can support the private sector in creating productive investments, such as by improving GDP performance and enhancing infrastructure quality.