Driver Of Growth Research Articles

Creative Industries And Economic Value: A Review Of Innovation, Impact, And Policy Support

This paper provides a comprehensive review of creative industries, examining their economic impact, innovation potential, and policy frameworks across different national contexts. Drawing from recent research and official reports, it analyzes how creative industries have evolved from traditional cultural activities to become significant drivers of economic growth and innovation in the digital age. The review synthesizes evidence from multiple countries, showing that creative industries demonstrate significant economic contributions, with the UK creative sector contributing £108 billion in GVA and employing 2.3 million people, while countries like South Korea and China report contributions of 6.3% and 4.3% to their respective GDPs. The findings of the review reveal that while creative industries show substantial positive economic impacts, including employment generation and revenue growth, their effects vary across regions and contexts. The paper highlights this sector's crucial role in driving innovation, particularly through digital transformation and new business model development. The paper also examines the critical role of cultural policy in supporting creative industries, finding that countries with dedicated creative industry policies have seen significant increases in sector employment over the past five years. The findings suggest that understanding the multifaceted nature of creative industries is crucial for developing effective policies and support mechanisms in both developed and emerging economies. This review contributes to the literature by providing a systematic analysis of recent developments in creative industries while identifying gaps in current research and suggesting future research directions for the development of creative industries in emerging economies.

Analysis of the Current State and Prospects for the Development of the Tourism Services Market in China

Aim. The purpose of the study is to analyze the current state of the Chinese tourism services market and the prospects for its development in the context of the public policy of the PRC.Tasks. Research objectives: perform a cluster analysis of entrepreneurial activity in the field of tourism, construct a diagram of the distribution of travel agencies by clusters; comply with the current state of the tourism services market in terms of key metrics; study government support measures for the industry; determine the prospects for the development of the tourism services market of the PRC and Russian-Chinese cooperation in the context of the implementation of the new “double circulation” strategy.Methods. Methodological basis and research methods: systematic approach, logical analysis, synthesis, cluster and regression analysis, content analysis of open sources.Results. The results obtained: the supply-side model of China’s modern tourism landscape includes three clusters; The specificity of China’s domestic tourism market is the holiday tourism segment; a new driver of economic growth is domestic tourism, the preferences of domestic tourists reflect a wide range of interests; the system of state support for tourism includes direct and indirect methods that adapt to changes in the external and internal environment.Conclusions. With a high probability, the prospects for cooperation between the PRC and the Russian Federation are assessed quite highly; favorable factors in the development of Russian-Chinese cooperation are the opening of new “windows of opportunity” after the COVID-19 pandemic, as well as the restriction of outbound tourist flows to unfriendly countries and changes in the vector towards the BRICS countries, SCO, and EAEU.

Rethinking the tax system concept as a driver of economic growth

Rethinking the tax system concept as a driver of economic growth

Creative Economy as a Driver of Economic Growth in the Digital Era

The creative economy has become a strategic sector in supporting economic growth in the digital era. This research aims to explore the opportunities and potential of the creative economy through digitalization and the challenges faced in developing this sector. This study uses a qualitative study method, with in-depth interviews and observations as data collection techniques to explore the experiences, strategies, and obstacles faced by business actors. The results show that digitalization plays an important role in expanding market reach, improving operational efficiency, and driving innovation. Business actors utilize e-commerce, social media, and digital applications to promote creative products and interact directly with consumers effectively. However, this success still faces challenges, including limited internet infrastructure and low digital literacy among small and medium business actors. Appropriate policy support and increasing digital literacy are key in overcoming these obstacles. This research concludes that with collaboration between the government, the private sector, and the community, the creative economy in Indonesia has great potential to become a key pillar of sustainable economic growth and strengthen competitiveness in the global market.

Indicators of Attracting Foreign Direct Investment in Developing Countries: Evidence from Vietnam

In today’s global economy, whether in advanced or emerging markets, the importance of being open to trade and investment is widely acknowledged as a key driver of economic growth. This economic openness is primarily demonstrated through the unrestricted exchange of goods and services as well as the free movement of international capital. While previous studies have investigated the effects of export-driven, import-driven, and capital-driven growth strategies, this research focuses on analyzing the impact of each indicator of the Provincial Competitiveness Index (PCI) on attracting foreign direct investment (FDI). By utilizing a panel data model covering 63 provinces and cities in Vietnam from 2018 to 2022, this study explores the correlation between PCI, FDI, and economic expansion. Findings suggest that export-oriented growth policies can be more effective in fostering the development of Asian emerging economies than FDI-centric approaches. Nonetheless, FDI continues to be crucial for technology transfer, capital accumulation, and knowledge exchange in management. Regions with advanced economies are more appealing to FDI, while provinces with distinctive industrial strengths also attract foreign investment. To further boost FDI inflows, it is advised that the government streamline market entry procedures, reduce administrative and tax burdens, increase transparency, and promote fair competition. These measures are anticipated to improve the investment climate and enhance competitiveness on the global stage.

The potential of open innovation platforms: driving sustainable development goals through digital collaboration

ABSTRACT Open innovation is a pivotal driver of organisational growth. This concept involves engaging external partners and leveraging diverse knowledge sources, leading to significant advancements in sustainability. With the rise of digital platforms, the potential for open innovation to foster sustainable development has increased. However, the literature on the intersection of digitalisation, open innovation, and sustainability remains sparse and fragmented. This study aims to bridge this research gap by exploring how digital platforms facilitate open innovation practices and their impact on sustainability, particularly in alignment with the United Nations Sustainable Development Goals. By creating a comprehensive database from scientific literature published between 2019 and June 2024, this research compiles a wide range of applications, case studies, and proposed implementations of open innovation platforms. Exploratory analysis maps the landscape of these practices, focusing on their sectoral applications, technologies involved, and business impacts. Text mining techniques are employed to identify patterns and key elements within the dataset. This analysis reveals how open innovation platforms contribute to sustainability, highlighting areas where they are most effective and identifying gaps for future research. The findings offer theoretical and practical insights, providing a detailed understanding of the current state of open innovation in the digital age, and their implications for sustainable development. This study aims to inform practitioners and policymakers about leveraging digital platforms to enhance sustainability efforts.

Peran Jaringan Sosial dalam Kewirausahaan di Banjarmasin: Tinjauan Sistematis terhadap Keterhubungan dan Dampaknya terhadap Kesuksesan Bisnis

This study presents a systematic literature review (SLR) to explore the role of social networks in entrepreneurship within the context of Banjarmasin. The research investigates how social connections affect business success, focusing on the influence of networking in developing sustainable ventures. By analyzing peer-reviewed articles published over the last decade, the study identifies key themes, including community support, collaboration, network strength, and access to resources, which act as significant drivers for business growth. Both formal and informal networks are found to play essential roles in enhancing entrepreneurial outcomes. The findings suggest that optimizing these social networks is crucial for achieving sustainable business development. This study offers practical insights for entrepreneurs and policymakers, aiming to provide strategies that leverage local social capital for improved business performance in Banjarmasin.

The Impact of Government Expenditure on Economic Growth in Malaysia

This study experimentally investigates the relationship between economic growth and government spending in Malaysia from 1990 to 2022 using time series data. The study analyzes the impact of total government spending on economic growth, covering housing, healthcare, social services, military, and education while identifying which sector has the most effect on economic growth. The Autoregressive Distributed Lag (ARDL) method is employed to evaluate the effects of these expenditures. The findings demonstrate that, in the short run, all variables significantly affect economic growth, hence refuting the null hypothesis. However, only trade openness and labor spending positively impact long-term economic growth. Research indicates that housing and education expenditures are the primary long-term drivers of economic growth in Malaysia. The data suggest that the Malaysian economy contradicts the Keynesian theory, as less government spending appears to improve the real GDP growth rate. The inverse relationship between government spending and economic growth indicates that government expenditure may not be the primary catalyst for economic growth, hence supporting Wagner’s law. These findings provide policymakers with essential insights for optimizing government spending to improve economic development results.

Impact of components of compensation on labours job satisfaction in the garments industry of Bangladesh

ABSTRACT The readymade garments (RMG) industry is a major driver of economic growth and poverty reduction in Bangladesh. It accounts for more than three-quarters of export earnings, contributes roughly 10 percent of GDP, and employs over 4 million people, the majority of whom are women, in approximately 5000 factories. The industry has faced several problems. High labour turnover is one of them, as it harms business performance and labour productivity. This study was carried out to determine various components of compensation and how they affected labourers’ degree of job satisfaction. Simple random sampling has been used to collect primary sources of data. The sample size is comprised of 151 labourers from the various garment factories in Bangladesh. This study revealed that labourers are more satisfied with their benefits Packages. In light of the higher costs associated with the inflation index, the average yearly wage or payment should be raised for compensation compared to the previous years. Furthermore, the Wage Board should periodically review workers’ basic pay and benefits to reflect changes in the country’s economic landscape. Based on the study’s findings, it is recommended that the pay structure and administration for RMG workers remain the same.

Diversification and the Resource Curse: An Econometric Analysis of GCC Countries

This research explores the effects of significant global economic shocks, such as the 2008 Global Financial Crisis and the 2020 COVID-19 pandemic, on GDP growth in the Gulf Cooperation Council (GCC) nations. Employing a dynamic generalized method of moments (GMM) model, the analysis highlights the strong momentum effect of lagged GDP growth, where past performance plays a critical role in shaping current economic outcomes. The findings also reveal that natural resources continue to positively influence short-term growth, but with diminishing returns over time, supporting the resource curse hypothesis and underscoring the need for broader structural reforms to ensure long-term sustainability. In addition, the results show that external investments flowing into the country, trade balance, and inflation emerge as key drivers of economic growth. While moderate inflation is positively associated with economic expansion, unemployment exerts a significant negative effect on GDP growth, particularly in models that account for country-specific characteristics. This emphasizes the need for labor market reforms to improve employment rates and support sustainable development. The role of gross capital formation, particularly in both the dynamic GMM and random effects models, further underscores the importance of strategic domestic investment, especially during periods of global disruption. These findings emphasize the critical need for economic diversification in the GCC. Policymakers should focus on attracting foreign investment, managing inflation, enhancing human capital, and boosting domestic investment to mitigate the adverse effects of the resource curse and secure sustainability. While market capitalization and oil rents may stimulate short-term growth, their long-term sustainability remains uncertain without greater diversification. Both external and domestic investments emerge as critical drivers of long-term growth, while persistent challenges such as inflation and unemployment continue to pose risks to economic stability. The study highlights the need to reduce reliance on oil and leverage human capital to build more resilient economies capable of adapting to future challenges. By offering dynamic, empirical insights into the balance between resource reliance and sustainable growth, this research adds valuable insights to the policy discussion on economic diversification in the GCC. Policymakers are urged to prioritize FDI, inflation management, domestic capital formation, and human capital development to mitigate vulnerabilities and ensure sustainable economic growth in the face of ongoing global uncertainties.

Research on Strategies for High-Quality Development of Digital Economy Innovation in the Context of High-Level Opening-Up: A Case Study of Wenzhou, Zhejiang

n the context of high-level opening-up, the digital economy has become a key driver of economic growth and industrial upgrading, emerging as a central issue in China's modern economic development. This study explores the significance of digital economy innovation in this context and addresses the challenges it faces, such as the need for technological advancement, incomplete legal frameworks, and a shortage of relevant talent. Strategies to enhance technological innovation, improve legal systems, and streng1hen the cultivation and attraction of digital economy talent are proposed. The feasibility of these strategies is validated through a case study of Wenzhou, Zhejiang, providing insights for the development of China's digital economy in the new era.

The Interaction and Balance Between Innovation and Sustainable Development

Abstract: This study explored the relationship between innovation and sustainable development, highlighting innovation as a key driver for economic growth and social progress. In contrast, sustainable development ensures the long-term viability of this growth. This study finds through a systematic literature review that innovation activities must balance environmental, social, and economic aspects to achieve green, inclusive, and sustainable development. However, certain innovations may threaten sustainable development due to disregarding long-term impacts. The requirements of sustainable development for innovation may also sometimes limit the pace and space for innovation. Therefore, it is particularly important to explore the negative impacts of innovation and sustainable development and to find a balance between the theoretical and practical levels. The study emphasises the importance of understanding the dynamic relationship between innovation and sustainable development. Through interdisciplinary cooperation and practical exploration, balancing innovation and sustainable development is crucial for promoting global sustainability. Further attention should be paid to the interaction between innovation and sustainable development, and appropriate innovation and development should be selected to achieve a balance.

Institutions as a determinant of Foreign Direct Investment inflows into the Southern African Development Community

Foreign Direct Investment (FDI) in Southern Africa has been one of the drivers of infrastructure development and economic growth especially in sectors such as mining, agriculture, energy, information, and communications technology (ICT). However, although important economic and institutional reforms have been undertaken by some SADC countries to encourage the inflow of FDI--particularly in low-income countries in the region, the flow of FDI to SADC member states remains low and concentrated in few countries and sectors and is still largely attracted to natural resources sectors. This paper examines the institutions and infrastructure development in the promotion of FDI inflows into the SADC region. Institutions and infrastructure development typically have a positive effect on FDI inflows through their impact on the investment climate. The paper uses panel data econometric analysis with OLS and PCSE to ascertain the impact of governance institutions on FDI inflows into the region. The results obtained reveal that the quality of governance, together with the level of economic development, market size, and openness to trade with the external world play a critical role in attracting FDI into SADC countries. There is however a need to control rampant corruption and reduce the political instability common in some of the countries of the region.

IMPACT OF VOCATIONAL EDUCATION ON ECONOMIC GROWTH: AN ANALYSIS OF THE INDIAN ECONOMY

Vocational education can be seen as an important tool in leveraging India’s demographic dividend. Given the labor surplus in terms of the young population, it is important to examine how vocational education and training can serve as a critical driver of economic growth. This study aims at examining the impact of vocational education and training on economic growth in India, using the framework of the augmented Solow growth model by decomposing human capital into vocational education, along with primary, secondary and higher education. Using an ARDL model based on the annual data from 1990 to 1991 and 2019 to 2020, the study analyzes the short-run and long-run impact of vocational education. The results indicate that in the case of India, the impact of vocational education on economic growth is both a short-run and long-run phenomenon exhibiting a stable positive relation. Other control variables used in this study, such as Investment, Population, Openness and Inflation are found with a significant impact on economic growth. The study suggests that it is necessary to upgrade vocational education programs to create high-quality workers with a view to improving productivity and macroeconomic outcomes in India.

Comparative Analysis of Agritourism Service Quality for Domestic and Foreign Tourists in Kerala: A SERVQUAL Approach

Aims: The article aimed to measure the quality of services offered at the agritourism centre to ensure the operational effectiveness of centres as well as the tourist satisfaction. The study uses the SERVQUAL model, which assesses dimensions such as tangibles, reliability, responsiveness, assurance, and empathy, to identify the strengths and weaknesses in service delivery in Kerala's agritourism sector. Understanding these differences is critical for tailoring experiences to meet the diverse expectations of both domestic and foreign visitors [1]. Objective: Analyse the Service Quality for Domestic and Foreign Tourists at Agritourism centres. Methodology: Primary survey was conducted among 150 domestic tourists and 150 foreign tourists who visited agritourism centres in Kerala using pre tested structured questionnaire. Results: The service quality analysis shows the highest satisfaction level of domestic tourists and lowest satisfaction level of foreign tourists towards the overall services provided at the agritourism center. The analysis revealed a lack of efficient signage boards, lack of trained guides and lack of accessibility features for disabled individuals at the agritourism destinations. Aside from these areas, the services demonstrated a higher level of performance. Neglecting these aspects will results in various negative outcomes, affecting tourists’ satisfaction and overall efficiency. Signage boards at agritourism destinations offer essential directions, enhance the overall visitor experience, and ensure both safety and accessibility. By focusing in clear, informative, and thoughtfully designed signs, agritourism destinations can boost visitor satisfaction, enhance their operations, and achieve success in a competitive market. The presence of trained guides will also enhance the tourists experience by ensuring safety, delivering valuable educational content, boost operational efficiency, provide personalized customer service, and support cultural and community engagement. Investing in well-trained guides enables agritourism destinations to improve the quality of their services, create memorable and rewarding experiences for visitors. Prioritizing the disability-friendly practices will play a key role in shaping a welcoming, inclusive, and successful industry that serves all individuals equitably. Conclusion: The study identified the quality gaps that experienced by the tourists at agritourism centres. Upholding high service quality in agritourism destinations is crucial for ensuring visitor satisfaction, gaining a competitive advantage, managing reputation, and maximizing both economic and community benefits [2]. Ultimately, high service quality will become the key driver of growth and prosperity for agritourism destinations.

Is tourism specialisation a trap for economic growth? The case of the Italian regions

ABSTRACT Tourism activity is a pivotal driver of global economic growth in an era of globalisation. Yet, its ecological footprints call for urgent sustainable practices. This paper enriches intricate interconnections between tourism, economic growth, and sustainability. Novel insights bridge gaps in understanding the effects of domestic and international tourism, regional heterogeneities, and spill-over effects, focusing on Italian regions (2004–2019). Based on a new neoclassical model, this study integrates key indicators beyond Gross Domestic Product and physical capital, encompassing sustainability (renewable energy) and human capital within the KLEM (Capital, Labour, Energy, Materials) specification. These frameworks assess multifaceted dynamics and raise questions about whether high tourism specialisation can lead to a trap for economic growth, development and, ultimately, socio-economic inequalities. Significantly, the research uncovers notable regional heterogeneities, and spill-over effects, shedding light on distinct economic trajectories and challenges, triggering the pursuit of resilience strategies. By highlighting intricate tourism-economy-sustainability connections, this study advances sustainable tourism understanding, urging a delicate balance between tourism's economic benefits and ecosystem concerns. It emphasises the need for eco-conscious practices and economic diversification to ensure harmonious development, aligning with the SDG agenda (UN, 2024).

Micro and Small Business Growth Drivers in Nigeria: Evidence from Small Cities Small Federating State

This study involves a comprehensive survey of about 1500 micro and small businesses across three major cities in one of the smallest states in Nigeria (Ebonyi State). Based on the cross-sectional data generated, a linearized Tobit regression and a robust T-Test statistical technique are applied to comparatively examine how internal firm attributes, market attributes, and socioeconomic and macroeconomic conditions affect the growth of micro and small businesses in a typical small state and small cities. The results reveal a key challenge to be the dominance of the business space in small cities by micro and largely informal enterprises.

Drivers of growth and decay of Sargassum in the Tropical Atlantic: A Lagrangian approach

The proliferation of Sargassum in the Tropical Atlantic has occurred almost every year since 2011, but a strong variability of biomass is observed among years. Essential knowledge about the drivers of Sargassum growth and decay is still lacking to explain this interannual variability. Benefiting from accurate basin scale Sargassum detections provided by remote sensing, and from physical and biogeochemical ocean simulations, we developed a Lagrangian drift-growth model to simulate Sargassum distribution over the period 2016–2020. The resulting trajectories and biomass time series of Sargassum aggregates were analyzed to highlight the main limiting factors of growth and decay. The nitrogen and phosphorous concentrations are found to be weakly restrictive compared to physical limiting factors, especially the temperature. In particular, the warm waters found off northern Brazil appear to be instrumental in triggering the end of seasonal growth of Sargassum. The timing of the seasonal warming of this region strongly impacts the quantities of Sargassum simulated each year. This suggests that this region should be monitored to anticipate the development of Sargassum and resulting strandings.

Evaluating the influence of environmental regulations on green economic growth in China: A focus on renewable energy and energy efficiency guidelines

China's status as the world's largest energy consumer highlights its pivotal role in global energy consumption and the urgency of enhancing its energy efficiency and renewable energy development. This study evaluates the influence of environmental regulations on green economic growth in China, with a focus on renewable energy and energy efficiency, from 2000 to 2023 across 30 provinces. Using the Metafrontier-Global-SBM super-efficient DEA model, the research measures green economic development through the lens of energy efficiency. An enhanced fuzzy comprehensive assessment gauges the stringency of environmental regulations. To explore non-linear impacts, regional spillover, and feedback effects, a spatial econometric model was applied. The results reveal a U-shaped non-linear relationship between environmental regulations and green economic growth, with significant spatial feedback and regional spillover effects. Environmental regulations are also shown to have a substantial positive influence on the development of renewable energy, a critical driver of green economic growth. Policy implications suggest that strengthening environmental regulations could accelerate renewable energy adoption and foster sustainable economic growth across regions in China.

A Systematic Review of Literature on Intellectual Property and the Creative Industry in Africa Using Scopus

The shift of the world to a knowledge economy, mainly driven by Intellectual Property (IP), calls for research dissemination through scholarly publishing to promote the protection and commercialisation of IP. In Africa, innovations such as mobile payment systems, drones, and development in the fields of renewable energy, biotechnology, and artificial intelligence have become key drivers of economic growth and development. However, many African countries have yet to know and appreciate the value of IP to their economies. The benefits of IP may be fully realised through proper awareness and understanding of IP using scholarly publications. The study sought to examine the published documents that focus on IP and the creative industry in Africa in order to create awareness and understanding of the breadth and scope of IP and IPRs. Content analysis was conducted on Scopus using descriptive informetrics. The Scopus database was used to ascertain the published documents that focus on IP and the creative industry in Africa. The researcher used the search string TITLE, ABSTRACT, KEYWORD and also applied Scopus “Analyse Search Results”, which facilitated in-depth analysis of the documents according to the key indicators (the year of publication, territory or country, source, author, institute/ affiliation, types of document, subject areas and sponsors). The analysis revealed that there were very few documents published each year on IP and the creative industry published in Africa. Although documents on IP and the creative industry in Africa were published through three document types, there was a diversity of the subject areas in which research on IP and the creative industry in Africa was found. Of the available research, most authors were affiliated with institutions in Africa, but only one of the journals belonged to an African country, and of all the sponsors, only four belonged to an African country. There was very little research on IP and the creative industry published in Africa, although IP is applicable to different disciplines. Africa needs to improve its science and technology capacity, research facilities and funding, and understanding and awareness of IP. Scholarly publishing on IP and the creative industries would be more pronounced if supported by local sponsors and journals instead of relying on scholars and institutions affiliated with countries outside Africa.