Different Stages Of Economic Development Research Articles

Evaluation of economic inequality in ‘the Belt and Road’ region – The application of night‐time satellite imagery

AbstractThe main aim of this paper is to explore economic inequality in ‘the Belt and Road’ region where the investigation of the economic status is important but remains underdeveloped. The application of night‐time satellite imagery in 2015 can effectively make up for the shortcomings of insufficient data at various scales, especially for developing countries. We explored inequality at a multi‐scale level using the Theil decomposition method. As a result, (1) night‐time light data can present economic development and assess inequality in ‘the Belt and Road’ region. (2) The between‐sub‐region inequality contributed most to disparity, while the between‐country inequality was the least. Night‐time light data in West Asia and Central and Eastern Europe was higher than that in other sub‐regions. Countries within Central, Southeast and West Asia exhibited high inequalities, indicating an obvious sub‐regional pattern. (3) Both positive and negative impacts of economic growth on inequality are observed, indicating that ‘the Belt and Road’ countries are in different stages of economic development. Nightlight satellite imagery can effectively monitor social‐economic development and will play an important role in the implementation of ‘the Belt and Road’ initiative and achieving the sustainable development goals.

Revolutionizing Environmental Sustainability: The Role of Renewable Energy Consumption and Environmental Technologies in OECD Countries

This study examines the relationship between economic factors and environmental sustainability in OECD (Organisation for Economic Co-operation and Development) countries from 1990 to 2022, with a particular focus on the impact of renewable energy consumption and environmental technologies on CO2 emissions. The research utilizes empirical data to establish a clear negative correlation between the adoption of renewable energy sources and the level of CO2 emissions, highlighting the effectiveness of renewable energy in reducing the environmental impact of economic activities. This finding supports the theoretical perspective that transitioning to cleaner energy sources is vital for achieving environmental sustainability and aligns with the objectives of the OECD’s environmental sustainability program. Further analysis reveals a significant negative impact of environmental technologies on CO2 emissions, underscoring the importance of technological innovation in environmental conservation efforts. The study also explores the dual influence of GDP growth, urbanization, industrialization, and trade on CO2 emissions, revealing both positive and negative effects across different stages of economic development. Initially, these factors contribute to increased emissions, but as economies mature and integrate more efficient and cleaner technologies, their impact on emissions becomes negative. These findings demonstrate the complex interplay between economic development and environmental sustainability and emphasize the need for policies that encourage renewable energy adoption, support environmental technological innovations, and guide economies towards sustainable practices. The study provides valuable insights for policymakers and stakeholders, advocating for an integrated approach to ensure long-term environmental sustainability in OECD countries.

Assessing the impact of religion on environmental quality

This study analyzes the impact of religion on environmental quality. Constructing a theoretical model built on the Schumpeterian production function, we reveal that religion can promote pollution emissions. Moreover, the mediating effects of labor force and product variety innovation between religion and pollution are positive. Furthermore, the mediating role of quality improving innovation varies across different stages of economic development. Our findings provide useful insights for policymakers seeking to enhance environmental quality.

The allometric growth relationship between electricity consumption and economics in China.

Electric power is the basic industry of a modern country. The rapid development of the power industry has promoted economic development and social progress. With the establishment of the carbon neutrality target of carbon peak, China's power industry is also facing new situations and new challenges. This paper innovatively introduces the concept of allometric growth in biology, and uses the data of provincial electricity consumption and economic development from 1972 to 2017, to study the allometric growth relationship between electricity consumption and economics in China at multiple scales. Combined with the spatial autocorrelation analysis method, the temporal and spatial characteristics of allometric growth between electricity consumption and economic development were researched based on the analysis of spatial correlation of GDP electricity consumption intensity. The results show that: (1) The provincial GDP electricity consumption intensity shows an aggregate distribution, and the local aggregate pattern changed significantly from 1972 to 2017. (2) The High-High Cluster gradually disappeared, and the Low-Low Cluster moved southward, appearing in the middle and lower reaches of the Yangtze River. (3) The differential growth coefficient of electricity consumption and economic development increased initially and decreased from 1972 to 2017. (4) GDP would increase by 7.4%, 20.1%, and 15.6% in the simulation of electricity consumption, increasing 10% at the three stages of China's economic development. (5) The allometric growth coefficients of electricity consumption and economic development are very different in the three economic belts, eight economic zones, and provinces with different characteristics at the different stages of economic development. Formulating differentiated regulation policies for regional economic development and electricity consumption will be conducive to the coordinated development of electric power production and the national economy.

New Energy Technology Innovation and Industry Carbon Emission Reduction Based on the Perspective of Unbalanced Regional Economic Development

Innovation in new energy technologies is a key driver in China’s efforts to achieve its environmental goals. However, the ability of different regions to develop and utilize new energy technologies may depend on their level of economic development. Based on a two-way fixed-effects panel data model, this paper empirically analyses the industry carbon emission reduction effect of new energy technology innovation and its heterogeneous performance at different stages of economic development, using data from 30 provinces and cities in China from 2000 to 2019. The results show that new energy technology innovation generally promotes CO2 emissions in China. The specific effects are closely related to the characteristics of the industry and the stage of economic development. At the same time, the implementation of environmental regulations will inhibit this positive effect, while the adjustment of the industrial structure may promote this positive effect. This paper discovers the mechanism of heterogeneity in new energy technology innovation among different provinces with different levels of economic development. This finding helps to fully assess the carbon emission reduction capacity and potential of different provinces and facilitates the rational disaggregation and formulation of climate policy goals among regions.

Study on the impact of energy poverty on income inequality at different stages of economic development: Evidence from 77 countries around the world

To achieve the Sustainable Development Goals (SDGs), countries should prioritize reducing income inequality while ensuring people have access to affordable, reliable, and modern energy. This study clearly illustrates the nexus between three aspects of energy poverty and income inequality, focusing on 77 countries from 2000 to 2019. The empirical results indicate that access to electricity contributes to reduce income inequality, while access to clean fuels and renewable energy development can increase income inequality. The results of heterogeneity analysis further reveal that at the early stage of economic development, access to clean fuels and electricity can significantly reduce income. In contrast, the development of renewable energy worsens income inequality. However, renewable energy development becomes the primary factor in reducing income inequality as economic development progresses. Furthermore, the mechanism analysis shows that energy poverty can reduce income inequality by improving public health and educational attainment. Finally, this study provides valuable policy recommendations and scientific arguments for reducing income inequality, accelerating energy access, and achieving the SDGs.

An investigation of the impact of sustainability drivers and transformative mediators on green buying behavior in the US and Brazil

PurposeThis study compares the impact of three drivers of sustainability behavior (perceived quality, social influences, and online education) and three transformative mediators (price value, attitude, and environmental knowledge) in influencing green buying behavior in a developed versus a developing country.Design/methodology/approachData was collected through a self-administered online survey in the United States (n = 195) and in Brazil (n = 209). The hypothesized model was tested using structural equation modeling software. Multi-group analysis was conducted to compare the impact of drivers and mediators on consumers' intention and willingness to buy green products and services between the two country groups.FindingsThe direct effects of price value, attitude, online education, and environmental knowledge, together with the indirect effects of perceived quality, social influence, and online education explain a significant amount of variation in driving consumer sustainability behavior in both countries. Differences between countries indicate that cultural and country's level of economic development moderate some relationships in the model. Affordable prices and social influences are stronger in Brazil.Practical implicationsOrganizations must educate consumers on relevant socio-ecological issues and communicate the positive aspects of their sustainable offerings as a proactive way to change consumers' attitude toward sustainability behavior, while recognizing the influence of family and friends in collectivist societies and price value in emerging markets.Originality/valueThis study is unique in drawing from three theories of green buying behavior and for empirically demonstrating the importance of distinct drivers and mediators under the context of countries in different stages of economic development (developed and developing). It provides a more global perspective on the topic and highlights the influential power of the key transformative mediators in the model.

International capital flows, liquidity risk, and monetary policy

In recent years, there has been a large amount of lending coming from the public sector of many developing countries. At the same time, the financial sectors in many advanced countries have issued a large share of portfolio debt to other countries. What are the implications of these events for the global financial system and overall economic activity? Do they have an impact on the transmission channels of monetary policy across countries at different stages of economic development? We investigate these important issues using a micro-founded model of money and banking so that the effects of monetary policy across countries can be meaningfully studied. Notably, the increase in capital outflows to the advanced economy renders monetary policy in developing countries to be less effective, while the effects of monetary policy in advanced economies are more pronounced. Yet, our results indicate that it can indeed be optimal for lower income countries to lend to the advanced world. Importantly, we find that the optimal amount of lending to advanced countries critically depends on the degree of liquidity risk — if it is sufficiently high, then public sector lending to advanced economies is not warranted. Consequently, our results indicate that governments in developing countries should carefully consider how much capital they send abroad to foreign countries.

The impact of the digital economy on young people’s consumption in the context of the new coronary pneumonia epidemic

This paper analyzes digital economy data from Beijing and 1 Chinese province and city by a panel model and a fixed impact model. The findings are as follows: First, the development of digital participatory finance has positively influenced China’s consumption level, consumption structure, consumption areas and development, mainly because it has affected the consumer goods of Chinese citizens. Second, by analyzing digital economy indicators and data at different stages of economic development, it is believed that the size and reach of the digital economy will have a more positive impact on per capita consumption in China. China’s digital economy mainly affects the urban-rural structure, regional structure, and consumption habits of residents to realize the impact of the digital economy. The digital economy has a much greater impact on growth-oriented household consumption than on household consumption. Based on the findings, recommendations for action are also provided. The government should strengthen digital infrastructure, improve digital economy products and derivative financial services, improve the quality of current financial services for citizens, and increase the affordability of citizens to successfully develop the digital economy.

Interaction between Urban Expansion and Variations in Residential Land Prices: Evidence from the Cities in China

Urban expansion is the result of the comprehensive action of various social and economic factors, among which variation in land prices is regarded as the leading factor affecting the direction and intensity of urban expansion. However, few of existing studies have explored the interaction relationship between urban expansion and variations in residential land prices, which needs to be looked at urgently in both theoretical research and decision-making practice. In this study, based on theoretical analysis, a panel vector autoregression model was constructed using the data of 104 cities in China from 2001 to 2017. The results show that there is a long-term two-way causality and mutual promotion between urban expansion and increases in residential land prices. The increase in the residential land supply caused by urban expansion will restrain the rise of residential land prices, but this effect is not sustained over the long run. Both urban expansion and residential land price rises are subject to inertia, the latter to a greater extent than the former. The results also reveal that the interaction differs for cities at different stages of economic development. Based on the analysis, policy suggestions for guiding urban expansion and further exerting macrocontrol over land market are proposed.

PECULIARITIES OF STATE POLICY FORMATION IN THE FIELD OF SPECIAL REGIMES OF ECONOMIC ACTIVITY

The main purpose is to consider the national experience of changing the specifics of economic activity, the main approaches to the legal regulation of relations in the sphere of economic activity are highlighted in historical retrospect. The article is devoted to the analysis of the procedure of formation and development of the mechanism of state regulation of economic activity in special conditions (preferential principles of economic activity, restrictions on economic activity and mixed legal regimes). Research methodology. Special attention is paid to the possibility of applying the method of legal modeling and introducing a special regime of management in the conditions of martial law. It is emphasized that most countries of the world, including Ukraine, are not ready for "war" and "post-war" economy. There is no adequate economic and legal basis for creating appropriate conditions for economic activity. Important aspects of legal regulation of special economic regimes have been studied. The basic legal documents regulating the principles of state policy in the sphere of economy were analyzed. Different stages of economic development of the country are highlighted. The legal basis of economic activity in the conditions of the martial law regime was studied. The main means of stabilization of the economic system of Ukraine are also indicated. Conclusions. The current stage of development of the Ukrainian economy is characterized by a period of profound transformation of approaches to economic activity. The problem of introducing a system of legal regulation of economic relations is quite acute in the conditions of the urgent need to "restart" the national economic system of Ukraine. It is obvious that there is a need to create effective mechanisms for regulating the creation and functioning of special regimes of economic activity in the context of anti-crisis regulation. Practical implications. Since today there is an urgent need to update the legislation, joint legal and economic research will contribute to the modernization of legislation in this area. Value/originality. The conducted research allows to determine the basic directions of modernization of the system of legal regulation of economic activity.

Estimating China's CO2 emissions under the influence of COVID-19 epidemic using a novel fractional multivariate nonlinear grey model.

The COVID-19 pandemic has posed a severe challenge to the global economic recovery and China's economic growth. Although China has achieved stage victory against the epidemic, the impact and influence of the epidemic on China's economy will linger. On the positive side, the epidemic has led to a dramatic reduction in air pollution levels and a sharp slowdown in greenhouse gas emissions such as CO2. Forecasting China's CO2 emissions under the impact of the COVID-19 epidemic is crucial for formulating policies that contribute to smooth economic development and rational energy consumption. To this end, this paper improves on the traditional grey model, GM(1, N), by developing a novel fractional multivariate nonlinear grey model, FMNGM(q, N). These improvements include two key points. First, different power exponents are assigned to each relevant factor variable to explain their nonlinear, uncertain, and complicated relationships with the system characteristic variables. Second, the integer accumulation is changed to fractional accumulation to preprocess the data, and the Caputo-type fractional derivative is used to characterize the endogenous relationships among the system characteristic data. In addition, the quantum particle swarm optimization (QPSO) algorithm is used to optimize the above parameters with the goal of minimizing MAPE. The collected data on China's CO2 emission from 2001 to 2018 were divided into two parts according to different stages of economic development: 2001-2009 and 2010-2018. Both sets of data were modelled and analysed separately and compared with other models. Results showed that the proposed model had better prediction accuracy than other models. Finally, the model built using the 2010-2018 data was used to forecast China's CO2 emissions. Results show that China's CO2 emissions in 2020 under the impact of COVID-19 will decrease by approximately 3.15% from 2019 to 9893 million tons. The results bear important policy implications for planners in investment in clean energy and infrastructure to achieving the goal of a low-carbon transition.

CHANGES IN FOOD CONSUMPTION BY THE POPULATION OF THE ALTAI TERRITORY ACROSS DIFFERENT STAGES OF ECONOMIC DEVELOPMENT: A METHODOLOGICAL ANALYSIS

The article analyzes the dynamics of food consumption in the Altai Territory, an agro-industrial region, at different stages of economic development since the early 1990s. The author identifies factors that contributed to changes in food consumption, including economic crises, changes in state consumption standards, and the population’s orientation towards a healthy lifestyle. Using state statistics, the article reveals significant shifts in the consumption of major food groups by the population of the Altai Territory over the past three decades (1990s, 2000s, and 2010s), and compares it to consumption in the Siberian Federal District and Russia as a whole. The article draws conclusions about the level of achievement of recommended norms for certain food groups and highlights key changes in household spending on food. Additionally, the article identifies the impact of four economic crises on shifts in food consumption by the population of the Altai Territory and establishes a reduction in their influence over time.

Research on the Impact of Economic Policy Uncertainty on China's Stock Market Returns

The development of China's securities market has been relatively short, and the stock market has been developed from scratch, and the relevant market system and theory are not mature enough, gradually showing the characteristics of "policy market". In order to achieve different macroeconomic goals at different stages of economic development, the government constantly adjusts the direction and intensity of the implementation of macroeconomic policy tools in a timely manner. Frequent adjustments in economic policies are bound to affect the development of capital markets. Especially since 2015, the supply-side reform, the Sino-US trade war, the establishment of the science and technology innovation board, the new crown epidemic and other internal and external factors overlapping makes China's economic policy uncertainty index fluctuates sharply, which will certainly have an impact on the stock market. In this paper, monthly data from 2010 to 2022 are used as the study interval, and the SSE and SZSE indices are selected as the samples to study the relationship between them and the Shanghai and Shenzhen market returns using the economic policy uncertainty index developed by Baker et al. It is found that in the short run, economic policy uncertainty causes drastic negative feedback in the stock market; in the long run, the impact of economic policy uncertainty on the stock market gradually tends to level off after investors return to rationality. By market segment, economic policy uncertainty hit the small-cap segment more sharply, and equity market yields were more volatile.

Tax and foreign exchange factors of inequality (To posing a problem)

The high level of income inequality of the population is a long-term problem in the world. The pandemic of 2020 and the growth of geopolitical tensions in 2022 increase the urgency of finding its solution. Inequality is a multifaceted phenomenon determined by various factors — from differences in the structure of economies to the specifics of the mentality and traditions of a particular state. As a result, there are no unified approaches to reducing inequality. This article analyzes the relationship of income inequality in Russia with the parametersof fiscal policy and the ruble exchange rate at different stages of economic development. It is shown that in certain periods taxes are connected differentlywith income inequality of the population in Russia. The important role of social spending in its reducing is shown; such dependence may be explained by the ruble exchange rate and its linkages with the budget policy. The article is setting stage for further analysis of the problem.

National innovation systems and the achievement of sustainable development goals: Effect of knowledge-based dynamic capability

The purpose of this paper is to explore the role of knowledge-based dynamic capabilities in national innovation systems in the achievement of sustainable development goals, employing an empirical approach in the context of the unprecedented COVID-19 crisis. Based on data from 130 sample countries, we analyzed the impact of knowledge-based dynamic capabilities on the achievement of sustainable development goals using PLS-SEM. In particular, we considered the differences in the impact of knowledge-based dynamic capabilities on the achievement of sustainable development goals at different stages of economic development. The results show that knowledge-based dynamic capabilities have a positive impact on the achievement of sustainable development goals, while their compositional dimensions have a dual impact, both direct and indirect. In addition, knowledge-based dynamic capabilities have different impacts on the achievement of sustainable development goals at different stages of economic development. This indicates that a country's economic development level will affect the relationship between knowledge-based dynamic capabilities and the achievement of sustainable development goals. However, it also means that there is a more complex relationship between these capabilities and the achievement of the goals. This study offers a new perspective for sustainable development research, adds new insights to the theory of linking knowledge-based dynamic capabilities to the achievement of sustainable development goals, and provides a measurement standard for the impact of those capabilities on the goals.

Cost-effectiveness analysis of axicabtagene ciloleucel as a second-line treatment for diffuse large B-cell lymphoma in China and the United States.

Axicabtagene ciloleucel (Axi-cel) is the first Chimeric Antigen Receptor T-Cell Immunotherapy (CAR-T) product approved in China for treating adult patients with relapsed or refractory large B-cell lymphoma after receiving second-line or above systemic therapy. However, it cannot be widely used in clinical practice due to its high price. To evaluate the economic value of Axi-cel fully in countries at different stages of economic development, this article, from the perspective of the medical and health system in China and the United States, evaluated the cost-effectiveness of Axi-cel in the second-line treatment of diffuse large B-cell lymphoma (DLBCL). Cost effectiveness analysis of Axi-cel in the treatment of relapsed or refractory large B-cell lymphoma (LBCL). Based on the clinical trial data of ZUMA-7, a short-term decision tree and a long-term semi-Markov partitioned survival model were constructed to evaluate the cost-effectiveness of the two strategies. This model was cycled for 40 years in 1-month cycles. In this article, only direct medical costs were considered. One-way sensitivity analysis and probabilistic sensitivity analysis were conducted to assess the robustness of the base-case results. In the baseline cost-effectiveness analysis, Axi-cel was associated with more quality-adjusted life year (QALY; 2.72 versus 1.46) and greater costs overall ($180,501.55 versus $123,221.34) than standard second-line chemotherapy in China. Moreover, the incremental cost-effectiveness ratio (ICER) of the Axi-cel group was $45,726.66/QALY, which was greater than the threshold of $37,654.5. To achieve cost-effectiveness, the price of Axi-cel must be reduced appropriately. In the United States, Axi-cel was associated with more QALYs (2.63 versus 1.74) and greater costs overall ($415,915.16 versus $289,564.34). The ICER for the Axi-cel was $142,326.94/QALY, below the set threshold of $150,000. Axi-cel is not a cost-effective option as second-line therapy for treating DLBCL in China. However, In the United States, Axi-cel has shown a cost-effectiveness advantage as a second-line treatment for DLBCL.

Differential characteristics of carbon emission efficiency and coordinated emission reduction pathways under different stages of economic development: Evidence from the Yangtze River Delta, China

Regional carbon emission efficiency (CEE) has differentiated characteristics under different economic development stages and patterns, and identifying such characteristics is important for formulating corresponding policies for high-quality regional development. Using input‒output data related to economic development and energy consumption, a comprehensive evaluation model of the Super-SBM and Malmquist‒Luenberger (ML) index is constructed to evaluate the spatial and temporal changes and driving forces of CEE. Based on this index, a proposal is designed for collaborative carbon emission reduction zoning. The results indicate that the CEE of the Yangtze River Delta shows a fluctuating upward trend with obvious spatial agglomeration characteristics, and CEE changes are closely related to economic development stages. The annual average CEE values in each stage show positive changes, indicating that economic development gradually evolves to low carbonization levels. Moreover, CEE improvement gradually shifts from being driven by efficiency changes to being driven by technological changes. Finally, according to the characteristics of total carbon emissions and the efficiency of different cities, a synergistic emission reduction path is proposed with four aspects: land use optimization, ecological co-preservation, innovation cooperation and low carbon development.

Industrial structure optimization, economic development factors and regional economic risk prevention in post COVID-19 period: empirical analysis based on panel data of Guangdong regional economy.

In the post-COVID-19 period, the regional economic development gap in Guangdong has expanded and the risk has increased. This is not conducive to building a well-off society in Guangdong in an all-round way. Optimizing the industrial structure, changing the mode of economic growth, preventing regional economic risks, and narrowing the regional economic development gap are the focus of Guangdong governments at all levels. Based on a two-sector economic growth model, the paper uses descriptive statistics and Deng's grey correlation method to analyze the economic development panel data of 21 prefecture-level cities of Guangdong Province from 2011 to 2018, analyzes the characteristics of regional economic development in Guangdong, and makes experimental research of the effect of industrial structure optimization and economic development factors on economic growth in Guangzhou, Zhongshan, Shantou, Maoming and Meizhou at different stages of development. The results show that: there are differences in the industrial structure and the level of economic development in different regions; the rationalization of industrial structure and upgrading of the industrial structure has an impact on economic growth and show different features during different stages; in different stages of economic development, foreign trade, scientific and technological innovation are the main factors affecting regional economic growth. This paper holds that the northwest of Guangdong Province and the Pearl River Delta should formulate industrial structure adjustment policies to promote the rationalization of regional industrial structure, expand foreign trade channels and innovate financing mechanisms, and restrain regional economic risks in combination with regional characteristics. The new development pattern of domestic and international dual circulation and mutual promotion, further expands the level of opening up, effectively playing the role of free trade pilot areas, free trade ports, special economic zones, development zones, bonded areas, and other frontier highlands, improve the level and capacity of foreign trade.

Business environment, human capital structural upgrading, and economic development quality

To verify the importance of optimizing a business environment and improving the level of human capital structure to promote economic development, this study employs a panel data of 30 Chinese provinces from the period 2008–2019 and utilizes the spatial Durbin model and quantile regression model to analyze the relation between a business environment, human capital structure upgrading, and economic development quality. We find that the quality of economic development has a strong spatial correlation and the improvement in the business environment promotes human capital structural upgrading and economic development quality. Human capital structural upgrading plays a significant intermediary role, through which improvement in the business environment affects economic development quality. Considering the huge differences in the level of economic development in different regions of China, we also conduct a regional heterogeneity analysis. We find that the promotion effects of the business environment and advanced human capital structure on economic development quality are significant within the sample period, and their promotion effects are significantly heterogeneous and asymmetric across quartiles, indicating that there is heterogeneity in the intensity of dependence of economic development quality on advanced human capital structure and business environment at different stages of economic development. Moreover, by observing the impact trends in the eastern, central, and western regions, we find that the impact of the business environment and human capital structure on the quality of economic development varies somewhat across provinces. This suggests that the eastern and central regions need to strengthen the optimization of the business environment, while the eastern and western regions should pay more attention to the improvement of the level of the advanced human capital structure.