Balanced Growth Research Articles

Deciphering the resource wealth enigma: Unraveling the interplay of institutional quality, economic diversity, and R&D in mitigating the resource curse

The study explores the multipart dynamics of resource wealth, institutional quality, economic diversity, R&D outputs and their interplay with “resources curse” by analyzing data from 2008 to 2019 for 18 G member countries. The study discovers that natural resource abundance can be a double-edged sword, potentially restricting R&D operations and offering the financial ability to fund these ventures. It clarifies that the “curse” depends on a wide range of economic, institutional, and sociopolitical conditions rather than an inevitable result. The strength of the institutions and economic diversity stand out as important mitigating factors among these elements. The study emphasizes how crucial institutional stability and openness are to protecting R&D projects from the resource curse's damaging effects. It encourages them to create a varied economic basis that fosters innovation and protects against resource-based vulnerabilities. The study also highlights how green, sustainable R&D activities can promote economic growth and environmental protection. It envisions a balanced growth trajectory in which natural resource riches are deliberately used to build a sustainable, innovation-driven future. The study promotes proactive policy initiatives and global collaboration among G20 economies to turn the resource curse into a driver for innovation and sustainable economic growth. This study provides valuable insights for policymakers, academics, and practitioners by demonstrating the nuanced relationship between natural resource richness and R&D activity in G20 economies. It adds to the conversation about sustainable economic development by challenging the international community to reconsider the myth of resource plenty and how it affects creativity.

ADAPTIVE DOMAIN-SPECIFIC NAMED ENTITY RECOGNITION METHOD WITH LIMITED DATA

The ever-evolving volume of digital information requires the development of innovative search strategies aimed at obtaining the necessary data efficiently and economically feasible. The urgency of the problem is emphasized by the growing complexity of information landscapes and the need for fast data extraction methodologies. In the field of natural language processing, named entity recognition (NER) is an essential task for extracting useful information from unstructured text input for further classification into predefined categories. Nevertheless, conventional methods frequently encounter difficulties when confronted with a limited amount of labeled data, posing challenges in real-world scenarios where obtaining substantial annotated datasets is problematic or costly. In order to address the problem of domain-specific NER with limited data, this work investigates NER techniques that can overcome these constraints by continuously learning from newly collected information on pre-trained models. Several techniques are also used for making the greatest use of the limited labeled data, such as using active learning, exploiting unlabeled data, and integrating domain knowledge. Using domain-specific datasets with different levels of annotation scarcity, the fine-tuning process of pre-trained models, such as transformer-based models (TRF) and Toc2Vec (token-to-vector) models is investigated. The results show that, in general, expanding the volume of training data enhances most models' performance for NER, particularly for models with sufficient learning ability. Depending on the model architecture and the complexity of the entity label being learned, the effect of more data on the model's performance can change. After increasing the training data by 20%, the LT2V model shows the most balanced growth in accuracy overall by 11% recognizing 73% of entities and processing speed. Meanwhile, with consistent processing speed and the greatest F1-score, the Transformer-based model (TRF) shows promise for effective learning with less data, achieving 74% successful prediction and a 7% increase in performance after expanding the training data to 81%. Our results pave the way for the creation of more resilient and efficient NER systems suited to specialized domains and further the field of domain-specific NER with sparse data. We also shed light on the relative merits of various NER models and training strategies, and offer perspectives for future research.

Examination of Provinces in Türkiye about Sectoral Employment Share by Cluster Analysis

The significance of regional dynamics in the process of economic development and regional development has increased as a result of significant factors like competitiveness, human resource development, and observation of the global market. In this study, mathematical programming-based cluster analysis has been conducted to group the regions in Türkiye according to sectoral employment rates. A mixed integer mathematical model is presented that maximizes the smallest of the out-of-cluster distances while minimizing the largest within-cluster distance. Level 2- 26 sub-regions in Türkiye are clustered according to sectoral employment data for 2021 and 2022. As a result, two clusters were obtained for both years in our country according to employment status by gender on a sectoral basis. One of these clusters is where the employment rate of the agricultural sector is higher than other sectors, and the other is where the employment rate of the industrial and service sectors is higher. When the 2021 and 2022 clusters are compared, in total, TR22, TR32, TR33, TRC3; in men, TR21, TR22, TR32, TR52, TR81; In women, it was observed that TRC1 regions were assigned to different clusters. By implementing a successful employment policy as human resource development across the national government, it will be possible to ensure the balanced growth of provinces located in Türkiye's various geographical areas.

Assessing tourism potential for rural tourism development: Promoting SDGs and economic opportunities to the B40 community—A mixed method approach

<p>This research explores the untapped tourism potential of three tranquil villages in Bukit Tengah, Penang, Malaysia. Its overarching strategy is to foster sustainability and economic growth, particularly in the B40 communities of the area. Employing mixed-methods research, the study evaluates tourism products through systematic weighted scoring, questionnaire surveys, and interviews with key informants and tourism stakeholders. The sustainable development theory is used in this study as a conceptual framework for rural tourism development, emphasising the integration of economic, social, and environmental dimensions to ensure long-term viability and benefits for local communities. The results indicate the latent potential for rural tourism development in the three villages, contingent upon garnering local support and collaborating with tourism stakeholders. The study highlights the capacity of rural tourism promotion in generating additional income for the local population, thus promoting both environmental sustainability and community well-being. These findings align with the state government’s goal of achieving balanced tourism growth between the island and Seberang Prai regions. Moreover, this research also aligns with Sustainable Development Goals (SDGs) 8 and 11, recognising the role of tourism in achieving goals such as poverty reduction, environmental sustainability, and community well-being, all of which are relevant to rural tourism development.</p>

Belarusian economy in the face of Western sanctions

In recent years, Belarus has been developing in conditions of extreme turbulence and uncertainty of socio-economic development due to the intensification of external and internal threats, undermining the possibilities of sustainable and balanced economic growth. Among the key external threats, we should mention: the rapid increase in geopolitical tensions after the rigged presidential elections in Belarus in August 2020 and the unprecedented pressure of sanctions from Western countries on the economy of Belarus and Russia after the Russian invasion of Ukraine in February 2022. The broken dialogue with the West deprived President Lukashenko of the possibility of balancing between the EU and Russia, especially in the economic field. This article analyzes the condition of the Belarusian economy against the background of Western sanctions imposed on the country in 2020 and 2022.

Beyond the scenery: Understanding the impact of rural tourism development on household consumption in China

AbstractThe positive effects of rural tourism are widely recognized, yet its influence on local household consumption has been insufficiently explored. Our study fills this gap by investigating the relationship between rural tourism development and household consumption, using the Leisure Agriculture and Rural Tourism Demonstration County (LARTDC) policy as a quasi‐natural experiment framework. Employing a staggered difference‐in‐differences (DID) method, we found that rural tourism development contributes to a 4.91% increase in per capita household consumption. The robustness of our main results is confirmed using advanced techniques such as Bacon decomposition and DIDM estimations. We attributed this positive impact to the rise in nonfarm employment and infrastructure development. Our heterogeneity analysis further reveals the inclusive nature of rural tourism, showing its significant role in improving household consumption patterns, diminishing consumption inequality, and enhancing welfare, especially in disadvantaged rural households. Further analysis confirms that greater LARTDC policy exposure may lead to higher levels of household consumption. Moreover, we revealed that rural tourism increased the freedom of employment, especially for the elderly and women; however, it did not squeeze out leisure time or hurt the quality of life and welfare. Theoretically, this study contributes to the discourse on tourism's role in fostering economic growth and social equity, addressing the patterns of high savings and low consumption in rural China. Practically, our findings suggest that post‐COVID‐19 recovery strategies in developing countries may emphasize rural tourism development, aiming to stimulate household spending and achieve balanced growth.

Living in a dynamic environment: The effects of multi-ways temperature variation on embryo and newborn juveniles of a shallow-water octopus (Amphioctopus fangsiao)

Shallow waters are characterized by fluctuating environmental conditions, modulating marine life cycles and biological phenomena. Multiple variations in water temperature could affect eggs and embryos during spawning events of many marine invertebrate species, yet most of the findings on embryonic development in invertebrates come from experiments based on the constant temperature. In this study, to examine the effects of temperature variation on octopus embryos, Amphioctopus fangsiao, a common shallow-water octopus along the coast of China, was exposed to the constant temperature (18 °C, in situ temperature of the seawater in Lianyungang), ramping temperatures (from 18 to 24 °C), diel oscillating temperatures (18 °C and 20 °C for 12 h each day), and acute increasing temperatures (the temperature increased sharply from 18 °C to 24 °C at embryonic development stage XIX) for 47 days (from embryogenesis to settlement). The results demonstrated that the temperature variations accelerated the development time of A. fangsiao embryos. Temperature fluctuations could cause embryonic oxidative damage and disorder of glycolipid metabolism, thereby affecting the growth performance of embryos and the survival rate of hatchings. Through transcriptome sequencing, the mechanistic adaption of the embryo to environmental temperature variations was revealed. The pathways involved in the TCA cycle, DNA replication and repair, protein synthesis, cell signaling, and nervous system damage repair were significantly enriched, indicating that the embryo could improve heat tolerance to thermal stress by regulating gene expression. Moreover, acute warming temperatures posed the most detrimental effects on A. fangsiao embryos, which could cause embryos to hatch prematurely from the vegetal pole, further reducing the survival of hatchings. Meanwhile, the diel oscillating temperature was observed to affect the normal morphology of the embryo, resulting in embryo deformities. Thus, the constant temperature is critical for balanced growth and defense status in octopuses by maintaining metabolism homeostasis. For the first time, this study evaluates the effects of multiple temperature fluctuations on embryos of A. fangsiao, providing new insights into the physiological changes and molecular responses of cephalopod embryos following dynamic temperature stress.

Analysis of forest cover change and its driving factors in Senan district, Amhara Region, Ethiopia.

Forests are pivotal in upholding and stabilizing ecosystem functions and services globally. Assessing changes in forest cover serves as a crucial indicator to comprehend the scope, scale, and dynamics of land use and land cover alterations on regional and global scales. This study evaluates the forest cover changes between 2005 and 2021, pinpointing the key drivers of forest land changes within the Senan district in Ethiopia's Amhara region. The analysis incorporated Landsat satellite images from 2005, 2011, and 2021, supplemented by field surveys using questionnaire data. Results reveal a shift: forest cover declined from 13.6% (2005) to 11.2% (2011) but rose to 15.4% by 2021, averaging a 12.9% annual change. Several crucial factors were identified as contributors to this forest cover change. These include expanding agricultural land, population growth, urbanization, and using wood as a fuel source. Poverty, exacerbated by population growth, climate change impacts, and a scarcity of food resources, directly linked to a shortage of farmlands, emerged as significant drivers of forest cover change. In light of these findings, an in-depth analysis of land use and land cover dynamics should be conducted, particularly at the expense of forest lands. Moreover, implementing sustainable management practices by developing strategies for intensive agriculture and fostering environmentally friendly non-farm income-generating activities is essential. This study provides reference material to policymakers and land-use planners setting sustainable development goals, advocating for balanced economic growth and environmental conservation to foster a harmonious relationship between humans and forests.

TAX INCENTIVE SCHEMES AND BALANCED REGIONAL ECONOMIC GROWTH IN TURKEY

This study delves into the impact of investment incentives on regional development and economic growth in Turkey. It provides a comprehensive overview of the investment incentive system introduced in 2012, categorizing regions based on development levels and offering various incentives such as tax exemptions, reductions, and social security support. The research investigates the relationship between investment incentives, public expenditures, regional differences, and economic growth. Through a thorough examination, the study aims to understand how the current incentive system addresses regional disparities and promotes balanced economic growth. The literature review explores international perspectives, including China and Italy, providing insights into the effectiveness of tax incentives on R&D investment and macroeconomic performance. The study also analyzes the European Commission's report on tax incentives for venture capital and business angels. The results and discussion section outlines the investment incentive framework in Turkey, emphasizing regional, priority, large-scale, and strategic schemes. The research considers twelve investment categories, each supported by specific incentive measures. The conclusion emphasizes the importance of aligning incentives with regional needs, fostering equitable development, and promoting strategic sectors. It highlights the significance of quasi-tax supports, VAT exemptions, and interest subsidies in encouraging investments. The employment and income tax withholding supports, especially in the 6th region, are recognized for their contribution to reducing unemployment. The study concludes by underscoring the need for continuous evaluation and adaptation of incentive schemes to address evolving economic challenges.

CLUSTERING OF EU MEMBER STATES BY THE LEVEL OF DEVELOPMENT OF INSTITUTIONAL INVESTOR ASSET MANAGEMENT

The financial landscape within the European Union is characterized by a significant disparity in the development of institutional investor asset management across its member states. Institutional investors, such as pension funds, insurance companies, and investment trusts, are vital in shaping financial markets and influencing economic stability. This study aims to fill the gap in the existing literature by examining the grouping of European Union member-states. The research focuses on examining key attributes, trends, and performance indicators of institutional investor asset management across various EU member-states. It utilizes data from 2017 to 2022, reflecting the average values of financial assets held by institutional investors as a percentage of Gross Domestic Product (GDP). This data provides a critical perspective on the investment landscape within the EU, particularly focusing on investment funds and insurance corporations. A notable observation from the data is the significant variance in the financial assets to GDP ratio among EU countries, with Denmark and France showing exceptionally high ratios, indicating a substantial role of institutional investments in their economies. In contrast, Lithuania and Greece demonstrate much lower ratios. This disparity is further analyzed through cluster analysis, grouping EU member-states into five clusters based on their asset management profiles. The clusters reveal distinct patterns in the distribution and development of asset management across the EU. Countries like Denmark and France, with highly developed financial markets, contrast sharply with those like Lithuania and Greece, which have less mature markets. The study highlights the influence of various factors such as economic structure, regulatory environment, and cultural attitudes towards savings and investment on these disparities. The study suggests that future research should focus on developing comprehensive policy recommendations, taking into consideration the distinct characteristics of each cluster to promote balanced economic growth and stability within the EU.

FUNDAMENTAL PRINCIPLES OF BALANCED ECONOMIC DEVELOPMENT: THEORETICAL ASPECT

The essence of balanced economic development lies in ensuring sustainable growth that harmonizes environmental, social, and economic objectives. This article delves into the foundational principles that underpin balanced economic development, emphasizing the integration of sustainability into economic planning and policy-making. Through a comprehensive analysis of recent studies and methodologies, it identifies gaps in current approaches and suggests a framework for achieving economic balance. Additionally, it examines the impact of economic crises and the direct relationship between crisis phenomena and balanced economic development. The significance of this research lies in its potential to inform policy directions that foster an equitable, sustainable, and prosperous future for all stakeholders, while also addressing the resilience of economic systems in the face of crises. The proposed framework not only aims to mitigate the adverse effects of economic downturns but also to leverage these challenges as opportunities for fostering sustainable and balanced growth. Keywords: balanced economic development, sustainability economic planning, policy-making, sustainable growth, economic crises, resilience.

Testing the Balanced Growth Hypothesis in the Presence of Structural Breaks: Evidence from Developed and Developing Countries

Testing the Balanced Growth Hypothesis in the Presence of Structural Breaks: Evidence from Developed and Developing Countries

Dynamic models for developing reference scenarios of energy system in the low-carbon transition

The proposed study is aimed at the development of dynamic input-output models in relation to energy development systems. The main task is to find optimal scenarios, defined as sequences of optimal balances between production and capital investment. These models are rooted in Leontief's conceptual concept of input-output, which emphasizes the timing of the introduction of new production systems. The article discusses the economic interpretation and mathematical conditions of intersectoral models, and examines their application to problems related to energy. The model uses the concept of balanced equilibrium growth, in which the ratio of consumption to net release is the same for all resources, and the reserve of at least one resource is fully utilized. The growth rate of the system is the most important parameter that determines the trajectory of balanced growth. Solving the system of inequalities yields balanced growth trajectories in which the dominant root and the associated vector of characteristics plays a key role. A balanced equilibrium growth rate has the properties of a minimax with the presence of a saddle point, which indicates its importance in achieving market equilibrium while preventing a reduction in inventories. The practical application of the model is described. The results of calculations of pessimistic, reference and optimistic scenarios of electricity production in the IPS of Ukraine are presented. Official statistical information and economic forecasts are used, and various restrictions are taken into account. The model aims to minimize the total cost of electricity generation while respecting environmental and operational constraints. The proposed model provides a comprehensive basis for understanding the dynamics of resource reserves, consumption and growth of electricity production of the IPS of Ukraine. It offers decision-makers a valuable tool to optimize electricity generation strategies, taking into account a range of scenarios and constraints, for the sustainable and cost-effective operation of the energy system. Keywords: Dynamic input-output models, optimal scenarios, balanced equilibrium growth, growth rate of the system.

Analysing Sustainable Urban Growth: Spatio-Temporal Dynamics of Urban Expansion in Gampola Urban Centre

Urbanization is a dynamic process which can be considered as one of the most significant indicators of development. It occurs both horizontally and vertically on the Earth’s surface according to a pattern which has positive and negative implications. Some countries measure their development by the level of urbanization because it directly affects for a country’s economy. During past decades, Gampola urban centre was experiencing a gradual urban growth and several implications. This study focuses on investigating urban expansion pattern of Gampola during 16 years by analysing three distinct years 2006, 2013, and 2022. Geographic Information System (GIS) and Remote Sensing (RS) techniques were employed to examine spatio-temporal transformations and urban expansion patterns of Gampola and its outskirts. Landsat images for three distinct years were classified using pixel-based supervised classification to determine Land Use Land Cover (LULC) of the study area which achieved an impressive overall accuracy of approximately 90%. Four major LULC types were identified those are prominent in the area namely, water, built-up, forest, paddy lands and bare lands. Temporal changes of vegetation cover for 16 years were analysed further using Normalized Difference Vegetation Index (NDVI). Consequent implications on Land Surface Temperature (LST) across the time period were analysed using thermal band of Landsat images. NDVI value has decreased from +0.7 to +0.5 during 2006-2013 and up to +0.4 during 2013-2022. LST analysis revealed a rise in temperature, increasing from 29.89° C up to 31.11° C during 2006- 2013 and surging to 33.14° C by 2022. Quantifying the urban expansion of Gampola was performed using buffer analysis. Analysis of urban areas grown within 1km distanced five buffer zones from urban core was performed to quantify urban expansion. Fourth buffer zone exhibited the highest urban growth, while first buffer zone displayed lowest urban growth during 2006 to 2022. In the interval between 2013 and 2022, the fifth buffer zone appeared as the zone with the highest urban growth. Further, Landscape Expansion Index (LEI) was employed to identify the urban expansion patterns, and Gampola urban area displayed an Edge Expansion growth type. We recommend the development of urbanized areas in a sustainable and efficient manner to mitigate adverse consequences and promote balanced growth.
  
 Keywords: GIS and RS, Urban expansion, LEI, LST, Sustainable development

Dinamika Ilmu Pengetahuan Dunia dalam Konteks Sistem Ekonomi Konvensional dan Sistem Ekonomi Islam

This research explores the dynamics of world science in the context of conventional economic systems and Islamic economic systems. The background reveals the central role of science in stimulating economic growth, as stated by Joseph E. Stiglitz, while the Islamic economic system emphasizes the integration of science with Islamic ethical values, as stated by Timur Kuran. The aim of the research is to investigate the contribution of science to economic growth in both paradigms, highlighting the essential comparison and potential integration of Islamic ethical values. The research method uses a comparative approach with literature analysis and in-depth interviews with economic experts and practitioners of Islamic economics. The results of the analysis show that science plays a role in the development of conventional economic systems and Islamic economic systems and encourages innovation and growth. This is demonstrated by the Islamic economic system which combines science with Islamic ethics, offering an inclusive and sustainable model. This comparison illustrates differences in views and the potential for integration, where Islamic ethical values can guide the application of science to achieve balanced economic growth. The implication of this research is the need to increase public education and awareness, government support, and the integration of ethical values in economic policy to achieve sustainable and inclusive economic growth.

Abstract WP299: Encephalomyosynangiosis Promotes Mature Angiogenesis After Ischemic Stroke

Backgrounds: Current treatments for ischemic stroke patients is ineffective. The brain's inherent ability to self-heal post ischemic stroke is hampered by inadequate blood supply to the affected region. Encephalomyosynangiosis (EMS), a neurosurgical intervention, has proven successful in promoting angiogenesis in patients with Moyamoya disease. We have earlier shown that EMS can increase angiogenesis after stroke in the implanted region, it is not known if those blood vessels are stable or mature. Given that EMS provide balanced growth factors, we therefore hypothesized that EMS enhances stable or mature cerebral angiogenesis in the cortical region surrounding the muscle graft. Methods: Following a 60-minute period of transient middle cerebral artery occlusion (MCAo), mice were assigned randomly to either MCAo alone or MCAo followed by EMS (3-4 hours post MCAo).. Mice were sacrificed at 7, 21, or 70 days post MCAo. A mouse angiogenesis and proteomic profile array was employed to quantify the expression of angiogenic and neuromodulating proteins. Immunohistochemistry was utilized to visualize the bonding of the graft with the brain cortex, changes in vessel density, and pericyte coverage to assess the degree of normal or mature angiogenesis. Results and Conclusions: Preliminary data indicate successful graft implantation and a significantly increased vessel density (P<0.05 compared to the MCAo alone) in proximity to the muscle graft, signifying increased angiogenesis after stroke. EMS-treated mice exhibited an early improvement in sensory motor deficits post-stroke. Analysis of the angiogenesis and proteomic profile array data unveiled a downregulation of antiangiogenic factors (such as interleukin-10 and Fetuin A) and an upregulation of pro-angiogenic cytokines or growth factors (including Fibroblast Growth Factor and C-X-C Motif Chemokine 12) in the EMS group. Co-immunostaining of the endothelial cell marker (Lectin) with the pericyte marker Platelet-Derived Growth Factor Receptor Beta (PDGFRβ) after 70 days of EMS suggested the stability and maturity of new blood vessels. In summary, the EMS procedure appears effective, holding promise for enhanced stable angiogenesis which may help to expedite recovery following ischemic stroke.

Agroecology, tourism, and community adaptability under UNESCO biosphere reserve: A case study of smallholders in northern Thailand

AbstractThis study investigates the intersection of agroecology and sustainable tourism, shedding light on the adaptive resilience within rural communities. Focused on the delicate balance between tourism‐driven economic gains, social‐ecological enhancements, and environmental conservation, the research centers on a case study involving four communities within the Mueang Khong subdistrict of Chiang Dao, Northern Thailand. Methodologically, the fieldwork conducted in 2022 combined ecological and landscape surveys with qualitative methods, including interviews, observations, and document analysis, to capture insights into local communities' perspectives, behaviors, and experiences. By adopting an agroecological approach to tourism, these communities have demonstrated their dynamism of adaptability and resilience in response to challenges posed by existing tourism activities and emerging circumstances. A significant catalyst contributing to this adaptability is the UNESCO recognition of Doi Chiang Dao as a new biosphere reserve, fostering new collaborations among diverse stakeholders and raising awareness regarding positive ecological conservation, food diversity and security, and improved livelihoods. This study argues that the ability to adapt, aiming to cultivate thriving communities and achieve balanced economic growth, responsible tourism, social inclusivity, and resource management, stands as a fundamental pillar for sustainable development in rural areas of Northern Thailand.

Денежно-кредитная политика России в 2024–2026 годах: будет продолжен курс на стабильность

The monetary policy of the Russian Federation in 2024–2026 will traditionally be aimed at protecting and ensuring the stability of the ruble by maintaining price stability, which is a necessary condition for economic development, including the formation of conditions for balanced and sustainable economic growth.

Bubble economics

This article provides a self-contained overview of the theory of rational asset price bubbles. We cover topics from basic definitions, properties, and classical results to frontier research, with an emphasis on bubbles attached to real assets such as stocks, housing, and land. The main message is that bubbles attached to real assets are fundamentally nonstationary phenomena related to unbalanced growth. We present a bare-bones model and draw three new insights: (i) the emergence of asset price bubbles is a necessity, instead of a possibility; (ii) asset pricing implications are markedly different between balanced growth of stationary nature and unbalanced growth of nonstationary nature; and (iii) asset price bubbles occur within larger historical trends involving shifts in industrial structure driven by technological innovation, including the transition from the Malthusian economy to the modern economy.

A Study on the Differences in Economic Development between East and West China

This study probes into the root cause of the economic development gap between East and West China. In the background, China's vast geographical conditions, historical investment patterns, and policy support have led to significant differences in development between the eastern and western regions. The objective of this paper is to analyze in depth how these factors interact and affect the economic development of the two regions. The research focuses on geographical factors, industrial structure, productivity, and education level. The study found that the eastern region's geographical advantages, policy support, and industrial diversity promoted its economic prosperity, while the western region's geographical barriers, resource dependence, and educational shortcomings restricted its development. In the future, comprehensive measures, including infrastructure construction, policy support, innovation promotion, and education reform, are needed to close this gap. Balanced and sustainable economic growth in China requires the coordinated development of the eastern and western regions, which will also help improve the living standards of the people throughout the country and promote the overall prosperity of the country.