During the Industrial Revolution, a significant increase in output was achieved through the use of machines in the production process. However, operating these machines required substantial energy and inputs, which resulted in increased pollution and consequently accelerated environmental degradation. Over time, these environmental issues have become a global threat, taking the form of natural disasters such as droughts, heavy rainfall, and extreme weather conditions. Within this context, the determinants of environmental quality have attracted growing attention from researchers and have been widely studied. As it became widely accepted that economic activity contributes to environmental pollution, the concept of sustainable economic growth emerged as a new objective for many countries. One key factor influencing sustainable economic growth is green investment, which promotes environmentally friendly economic activities. Despite its importance, the impact of green investment on sustainable economic growth has been largely overlooked in the literature. This study aims to examine the effect of green investment on sustainable economic growth in 17 developed countries over the period 2014–2022, using the two-step System Generalized Method of Moments. The results show that higher levels of green investment are associated with a higher rate of sustainable economic growth. In addition, several control variables are included in the analysis. These are inflation, trade openness, foreign direct investment, and government expenditure. The findings suggest that inflation has a growth-enhancing effect on sustainable economic growth, whereas the other variables have a negative impact. To ensure the robustness of the findings, one-step System Generalized Method of Moments technique was also conducted, which confirmed the initial results. Based on these findings, the study offers policy recommendations. In particular, it emphasizes the need for targeted strategies that encourage green investment as a means to achieve long-term sustainable economic growth and also suggests some directions for future research on this topic.

This study assesses the impact of circular economic factors on economic growth in six ASEAN countries during the 2010 - 2013 period, based on a publicly available database from official sources, the World Bank, UNCTAD, and IEA. According to the theoretical framework of the circular economy and green growth, the study emphasizes the role of resource optimization, green finance, reuse and recycling, and emission reduction in sustainable development. This study applies the feasible generalized least squares (FGLS) regression method to address heteroskedasticity, autocorrelation, and cross-sectional dependence, thereby providing more accurate estimates of the relationships among variables. The results indicate that green investment and urbanization have positive impacts on economic growth; these factors act as key drivers of sustainable economic growth. Renewable energy consumption and natural resource exploitation have negative effects on economic growth; these factors illustrate high initial investment costs, technological constraints, and uneven resource-use efficiency across ASEAN countries. Greenhouse gas emissions continue to exhibit a positive correlation with growth, implying that the region still remains in the early stage of the environmental Kuznets curve, where economic growth has yet to be free of environmental impacts. Based on these findings, the study proposes several policy implications. Firstly, green investment, particularly FDI linked to clean technology, should be further promoted. Secondly, the urban development planning should incorporate circular economy principles, which include smart city development, clean transportation, and circular waste management. Thirdly, the environmental institutional framework and governance capacity should be properly developed to facilitate the use of renewable energy and biomass technologies. Finally, regional cooperation should be enhanced for countries to share experiences, technologies, and develop a set of circular economy indicators integrated into national development strategies. These recommendations serve to foster green transition and sustainable growth in ASEAN countries.

Rising public debt has become a central policy concern as governments increasingly rely on borrowing to finance development and recovery programs. Yet the impact of debt on growth remains debated, depending on how effectively countries manage and allocate borrowed resources. This study examines the relationship between public debt and economic growth, with governance quality as a moderating factor. Anchored in an extended neoclassical framework, public debt is treated as a financing tool whose effect depends on governance quality and fiscal allocation. Using panel data from 188 countries for 1996–2023, the analysis applies fixed-effects and instrumental-variable estimations based on non-overlapping five- and ten-year averages to capture medium- also long-term dynamics while addressing endogeneity. The results show that debt reduces growth when governance is excluded; however, the effect becomes positive and significant once governance interactions are included—especially in the five-year model with lagged debt as an instrument. By contrast, the three-way interaction among debt, governance, and public capital is insignificant in the medium term, suggesting that investment effects may require longer horizons or stronger institutional alignment. Overall, the findings highlight that sound governance and efficient fiscal allocation are prerequisites for transforming public debt from a fiscal burden into a driver of sustainable economic growth.

The possibilities and level of development, as well as the prospects of the nonoil segment of the Persian Gulf states economic systems at the present stage have been analyzed. The purpose of the study is to analyze the formation and strengthening of the non-oil segment in the GCC states as the basis for sustainable development of national and regional economies in the future. The subject of the study is the national economy structure in the GCC and its changes (diversification). Based on the statistical, analytical, and empirical information analysis, it has been shown that now in the GCC the fundamental role of hydrocarbons remains. The GCC energy policy is influenced by institutional, political, and other factors. The GCC is taking significant steps towards a diversification strategy, striving to move from an export-based economic model by reducing the oil segment in the economy to a diversified reproduction structure. Some factors, such as high demand for hydrocarbons, which hinder alternative energy development, have an impact on the non-oil economy development. The GCC state are taking certain steps, mainly at the country level, to build an economy based on non-oil resources. This activity has had some success. However, these successes could have been higher if the GCC states had joined forces to form common technological platforms based on the interstate program (strategy) of innovative cooperation for a decade.

Abstract: In Nigeria, the oil and gas sector is essential to global economic stability, powering industries, transportation, and trade. The oil and gas revenues make up a major share of government income and exports, but the sector has long suffered from weak regulation, corruption, and overlapping institutional mandates that discouraged investment and slowed growth. However, this review paper examines Nigeria’s regulatory reforms, with a focus on the Petroleum Industry Act (PIA) 2021, which streamlined agencies, improved fiscal transparency, and introduced Host Community Development Trusts to promote local benefits and reduce conflict. These measures have strengthened investor confidence, enhanced policy coordination, and encouraged new investment in the gas infrastructure, refining, and local content development.Hence, the study also draws lessons for United States energy policy, with emphasis on the importance of regulatory certainty, stakeholder engagement, and transparent governance in balancing energy security with climate goals. Furthermore, Nigeria’s experience shows that efficient regulation and strong government-business collaboration can speed up project delivery, reduce conflict, and turn natural resource wealth into a driver of sustainable economic growth.

With the rapid advance of digital technologies, the service industry has become a key driver of sustainable economic growth and the restructuring of international trade. Drawing on value-added trade flows for five pivotal service industries—construction, air transportation, postal telecommunications, financial intermediation, and education—over 2013–2021, this study examines the spatial evolution of the global service value chain (GSVC). Using social network analysis combined with a Temporal Exponential Random Graph Model (TERGM), we assess the dynamics of the GSVC’ core–periphery structure and identify heterogeneous determinants shaping their spatial networks. The findings are as follows: (1) Exports across the five industries display an “East rising, West declining” pattern, with markedly heterogeneous magnitudes of change. (2) The construction industry is Europe-centered; air transportation exhibits a U.S.–China bipolar structure; postal telecommunications show the most pronounced “East rising, West declining” shift, forming four poles (United States, United Kingdom, Germany, China); financial intermediation contracts to a five-pole core (China, United States, United Kingdom, Switzerland, Germany); and education becomes increasingly multipolar. (3) The GSVC core–periphery system undergoes substantial reconfiguration, with some peripheral economies moving toward the core; the core expands in air transportation, while postal telecommunications exhibit strong regionalization. (4) Digital technology, foreign direct investment, and manufacturing structure promote network evolution, whereas income similarity may dampen it; the effects of economic freedom and labor-force size on spatial network restructuring differ significantly by industry. These results underscore the complex interplay of structural, institutional, and geographic drivers in reshaping GSVC networks and carry implications for fostering sustainable services trade, enhancing interregional connectivity, narrowing global development gaps, and advancing an inclusive digital transformation.

This article investigates the impact of human capital on economic growth, emphasizing the importance of education as a key factor in increasing worker productivity and promoting economic development. The analysis explores various theories, including neoclassical and endogenous growth models, highlighting the positive externalities associated with the accumulation of human capital. Using panel data for the 26 Brazilian states and the Federal District between 2012 and 2020, the study examines the relationship between the proportion of people with secondary education, energy consumption, schooling, internet access and GDP. The results highlight the importance of education and access to services as critical drivers of sustainable economic growth. The fixed effects panel model, chosen as the most appropriate, reveals a positive and significant impact of secondary education and energy consumption on GDP. The findings suggest that investments in human capital, particularly in education and innovation, are essential for long-term economic development.

Abstract This study investigates the key factors influencing sustainable economic growth (SEG) in New Zealand from 1980 to 2023, with a focus on the energy, green, and blue economy, and the short‐ and long‐term effects of these drivers. Using Vector Autoregression (VAR), Granger causality, Error Correction Model (ECM), and Impulse Response Function (IRF) analyses, the study examines dynamic interactions between economic growth and various indicators, including energy intensity, energy use, renewable energy, innovation, technical assistance, fisheries production, agriculture, forestry, and trade openness. The results show that energy intensity, renewable energy, energy use, and technical assistance significantly affect SEG, with differing immediate and lagged impacts. IRF analysis highlights that renewable energy and energy intensity positively influence long‐term growth, while energy use has negative effects. Innovation and technical assistance yield delayed but growing benefits. Fisheries and agriculture initially impede growth but become positive contributors over time. Trade openness supports short‐term growth before stabilizing. Granger causality confirms strong links for energy intensity, energy use, innovation, and technical assistance. Policy implications suggest that energy policies should focus on boosting energy efficiency and expanding renewable sources to reduce the harmful effects of conventional energy use. Innovation policy should offer transitional support through incentives or public‐private partnerships to ease short‐term disruptions. Technical assistance must be strengthened through international cooperation to support technological adoption and sustainable practices. Fisheries and agricultural policies should prioritize sustainability standards and conservation practices to ensure long‐term growth. These findings offer valuable insights for policymakers seeking to enhance sustainability and economic resilience.

The aim of the article is to substantiate and develop a risk minimization toolkit for sustainable development enterprises operating in a turbulent environment by integrating digital technologies, ESG principles, and adaptive management models to ensure their resilience and long-term development. Analysis results. The article addresses the scientific and practical problem of minimizing risks in the activities of sustainable development enterprises operating under turbulent conditions. The purpose of the study is to substantiate and develop an integrated risk management toolkit that meets the modern requirements of digital transformation, ESG (Environmental, Social, Governance) responsibility, and adaptive management. The research is particularly relevant for the Ukrainian context, where enterprises face multidimensional risks associated with war, post-war reconstruction, economic instability, and global environmental and technological challenges. As a result of the research, three author's models of risk management for sustainable development enterprises have been proposed: SIRM (Sustainable Integrated Risk Management) – a model of strategic integrated risk management focused on long-term resilience, combining ESG auditing, digital analytics, and scenario planning; SIRP (System for Integrated Risk Prevention) – a model aimed at preventing risks by means of early warning systems, automated monitoring, and cooperation with local communities and international partners; CIRR (Critical Impact Risk Response) – a model of operational response to critical risks such as war, infrastructure destruction, or large-scale migration, providing rapid response protocols and business continuity planning. The scientific novelty of the study lies in the development of a multilevel approach to risk management in sustainable enterprises that simultaneously integrates digital, ecological, social, and governance dimensions. The article substantiates the construction of an integrated readiness index of enterprises for risk-oriented models (IIRM), which reflects the organizational, technological, financial, and managerial capacity of enterprises to implement comprehensive risk management systems in turbulent environments. The practical significance of the results consists in forming an applied framework for building risk management systems in enterprises that adhere to sustainable development principles, particularly in the context of military and post-war conditions. The proposed models allow enterprises to strengthen resilience to unpredictable external shocks, minimize losses, and ensure continuity of key activities even in conditions of extreme uncertainty. The conclusions of the study confirm the necessity of shifting from isolated and reactive risk management measures to integrated, proactive systems based on digital monitoring, scenario analysis, and ESG adaptation. It is emphasized that in modern conditions, enterprises cannot rely solely on traditional insurance or financial reserves. Instead, there is a need for systematic risk governance that combines various mechanisms: avoidance of unacceptable risks, diversification of suppliers and markets, internal auditing, preventive ESG policies, and active cooperation with external stakeholders. Prospects for further research lie in several key areas. First, it is advisable to conduct empirical testing of the proposed models on the basis of Ukrainian and international enterprises operating in various industries and regions. This will allow the refinement of model components and identification of industry-specific factors. Second, further work should focus on improving digital risk monitoring systems using artificial intelligence, big data analytics, and blockchain technologies to ensure transparency and real-time risk assessment. Third, it is important to develop sectoral strategies for risk management in sustainable enterprises, taking into account their size, technological maturity, and ESG profile. Conclusions and directions for further research. Overall, the results of this study contribute to the scientific development of risk management theory for sustainable enterprises and provide practical solutions for business entities operating in conditions of high uncertainty, digital transformation, and post-war economic recovery. The implementation of the proposed approaches will help Ukrainian enterprises not only survive in the current difficult conditions but also become drivers of sustainable economic growth, social stability, and ecological safety.

The Uzbek diaspora plays an important role in Uzbekistan’s economic development by easing internationaltrade, promoting Diaspora Direct Investment (DDI), and transferring knowledge and skills. This study examineshow diaspora networks in Russia, Kazakhstan, South Korea, and Türkiye influence trade and investmentflows, highlighting their impact on Uzbekistan’s economy. The findings reveal that while remittances andinvestments contribute significantly to national development, challenges such as informal labor markets,regulatory inefficiencies, and weak engagement frameworks continue to limit their full potential. Addressingthese barriers through targeted tax incentives, dual citizenship reforms, and structured diaspora engagementpolicies could significantly enhance economic contributions. This study emphasizes the strategic importanceof diaspora networks and calls for proactive policy measures to optimize their role, positioning theUzbek diaspora as a key driver of sustainable economic growth.

Expenditures in research and development (R&D) and their transformation in innovations are unanimously considered in the academic literature to be one of the key drivers of sustainable economic growth, total factor productivity, as well as the competitiveness of companies and national economies. The paper examines the dependence of the level of innovation performance of European countries on the countries’ expenditures on R&D. Although this dependence appears to be significant and long-term stable, there are significant differences in the evaluation of individual partial components of the innovation performance of countries according to the index used within the European Innovation Scoreboard. The mentioned findings indicate that the process of transformation of R&D into innovative performance is just as important as the amount of R&D expenditure itself. Using the example of the economy of the Slovak Republic, its comparison with EU countries and the Quintuple Helix model, the contribution further demonstrates how the low level of R&D spending in connection with insufficiently developed country subsystems (helices) can lead to economic paradoxes and, without systemic changes, to the unsustainable development path or to the risk of R&D spending trap.

Infrastructure development has a strategic role in driving the economic growth of a region. Local governments have the responsibility to plan, manage, and implement infrastructure policies to improve connectivity, investment, and community welfare. This study aims to analyze the role of Lampung Province's local government in infrastructure development and its impact on economic growth. The research method used includes a qualitative approach with secondary data analysis from various related sources. The results show that infrastructure development policy in Lampung focuses on improving transportation networks, public facilities, and inter-regional connectivity. However, there are several challenges such as budget constraints, inter-agency coordination, and regulatory barriers. Therefore, more effective strategies are needed in infrastructure management, including collaboration with the private sector and optimization of regional budgets. With an optimized role of local government, infrastructure development can be a driver of sustainable economic growth in Lampung Province.

The increasing global awareness of environmental sustainability has led to the rise of ecotourism as a vital component of green economic development. Ecotourism emphasizes responsible travel to natural areas, conservation efforts, and community engagement, making it a key driver of sustainable economic growth. This study employs a qualitative approach using literature review and library research methods to explore the contribution of ecotourism to green economic development. The research synthesizes findings from recent studies, analyzing the environmental, social, and economic benefits of ecotourism in various regions. The results highlight that ecotourism plays a crucial role in biodiversity conservation, employment generation, and sustainable business practices. By promoting responsible travel behaviors, ecotourism fosters environmental awareness and local empowerment, ensuring that economic benefits directly reach indigenous and rural communities. Furthermore, ecotourism attracts investment in green infrastructure, renewable energy, and eco-friendly accommodations, which support long-term economic resilience. However, challenges such as over-tourism, inadequate regulatory frameworks, and the commercialization of ecotourism sites threaten its sustainability. This study underscores the importance of government policies, corporate responsibility, and community-driven initiatives in ensuring that ecotourism remains a genuine catalyst for green economic development. Future research should focus on measuring the long-term economic impacts of ecotourism projects and exploring strategies to balance environmental conservation with economic growth. By fostering sustainable tourism practices, ecotourism can contribute significantly to achieving global environmental and economic sustainability goals

This study examines the critical role of creativity in economic development and its significant impact on GDP growth within the European Union. Using Principal Component Analysis (PCA), the study evaluates and quantifies the impact of specific indicators of creative development on economic performance. Based on data collected from 28 EU countries and Switzerland, the analysis shows that regions characterised by a higher concentration of creative activity and innovation infrastructure tend to have higher GDP growth. The methodology involves a careful selection, standardisation and evaluation of key variables representing creative development, ensuring consistency in comparisons across countries. PCA allows complex datasets to be distilled into three principal components that together account for 78.33% of the total variance, providing a comprehensive view of the multidimensional nature of creative economic activity. The primary aim of this research is to explore how creativity can act as a driver of sustainable economic growth and to provide practical recommendations for policy makers seeking to maximise this potential. The findings highlight the important role of human capital, cultural vibrancy and the creative industries in fostering regional economic resilience and innovation. Among the factors examined, the number of R&D personnel per million inhabitants emerges as a critical determinant, with a strong positive correlation with GDP per capita. In addition, the share of employees in innovative firms and the presence of design-oriented firms were found to be key drivers of growth, highlighting the importance of fostering creativity and innovation across different sectors of the economy. The study concludes that supporting creative industries, increasing R&D investment and fostering an environment conducive to innovation are essential strategies for increasing GDP growth, even in resource-constrained regions. These findings highlight the need for strong institutional support and targeted policies to develop creative potential and stimulate economic progress. This research advances the understanding of the role of creativity in economic development by providing a structured framework for future analysis. The authors exhort policymakers to employ these insights to devise initiatives that harness creativity as a means to attain long-term economic resilience, innovation, and regional competitiveness in an evolving global economy. The present research prompts future investigation, with a particular focus on the direct impact of creative industries in specific sectors, such as technology or cultural industries, on economic growth and innovation.

Kazakhstan is actively integrating Environmental, Social, and Governance (ESG) principles into its national sustainable development strategy. The implementation of ESG policies is considered a key driver of sustainable economic growth, enhancing investment attractiveness and improving the quality of life for the population. The purpose of the study is to identify key factors that contribute to the successful integration of ESG principles into the sustainable development strategy of Kazakhstan, as well as to identify the main barriers and opportunities on the path to carbon neutrality by 2060. The study highlights positive trends in Kazakhstan’s ESG policy, particularly in the transition to a green economy, supported by renewable energy investments and low-carbon policies, strengthened corporate governance standards and increased ESG reporting transparency, the role of state-led policies and international collaboration in driving ESG initiatives. This study employs a qualitative research approach, incorporating a literature review, case study analysis, and comparative assessment of ESG policies in Kazakhstan. It analyzes government regulations, corporate ESG reports, and international benchmarks to evaluate the country’s progress. A SWOT analysis is conducted to identify key strengths, weaknesses, opportunities, and threats in ESG implementation. The findings are based on data from global institutions (World Bank, OECD, UNDP), national policies, and corporate sustainability reports to provide a comprehensive evaluation.

The integration of scientific and technological innovation with industrial innovation has emerged as a pivotal driver of sustainable economic growth. Utilizing the theory of system coupling, this study conceptualizes the integration process as complex and dynamic. It explores the interaction mechanisms between these innovations and establishes a systematic coupling evaluation index system. Additionally, methods such as the coupling coordination model and grey relational analysis are employed to quantitatively assess the integration levels across China and its 30 provincial regions from 2012 to 2022 in this study. Key factors influencing the enhancement of this integration are also identified. The findings indicate that, from 2012 to 2022, the coupling relationship between these two innovation systems has attained an advanced coupling state; however, the degree of coupling coordination remains at a primary level. Regionally, the coupling coordination degree exhibits features of unbalanced development: the eastern region reaches the highest level, albeit still at a barely coordinated stage, followed by the central region, which surpasses the northeastern region, while the western region exhibits the lowest degree. At the provincial level, notable discrepancies exist in the coupling coordination between these two innovation systems. Grey relational analysis reveals that scientific and technological input, along with industry–university–research collaboration, play particularly critical roles in enhancing the degree of integration.

This research paper evaluates the role of tourism in the economic development of Andhra Pradesh, utilizing data from the Regional Tourism Satellite Accounts (TSA) for the year 2015-16. The study aims to quantify the contributions of the tourism sector to the state's Gross Value Added (GVA) and employment, providing a comprehensive analysis of tourism's impact on the local economy. Through a detailed examination of tourism statistics, including the number of visitors, types of tourism, and associated economic metrics, the findings reveal that tourism significantly contributes to both direct and indirect economic activities in Andhra Pradesh. The paper discusses the implications of these findings for policymakers and stakeholders, emphasizing the need for strategic initiatives to enhance tourism's potential as a driver of sustainable economic growth. By identifying key challenges and opportunities within the sector, this research contributes to the broader understanding of tourism's role in regional economic development and offers recommendations for future research and policy formulation.

Innovation activity is a key driver of sustainable economic growth and national competitiveness, particularly under the conditions of global digital transformation. The issue of effectively utilizing innovation potential is especially relevant for high-income countries. The purpose of the article is to evaluate the efficiency of innovation development in enterprises across developed economies based on the Global Innovation Index (GII) metrics. The study applied comparative, coefficient-based, graphical, system and clustering methods to analyze the Innovation Input and Output Sub-Indexes over the 2020–2024 period. A typology of countries was constructed according to innovation efficiency using a matrix model (“high/low input – high/low output”). The focus was on countries such as Switzerland, the United Kingdom, Germany, China, Poland, Hungary, and the Czech Republic. The structure of the GII was described and its components systematized. It was found that China, despite lower resource-related input, shows high innovation efficiency. It was also established that Switzerland and the United Kingdom consistently maintain both input and output innovation levels. The dynamics of sub-indices were assessed, the Innovation Efficiency Ratio was calculated, and a country classification scheme was proposed. Theoretical significance lies in justifying a conceptual approach for assessing the effectiveness of innovation policy based on the GII framework. The practical value of the study consists in the possibility of applying its findings for strategic innovation planning in enterprises of countries with varying levels of innovation development. The study introduces novelty by applying the GII as a tool for identifying structural inefficiencies and classifying innovation models. Future research may focus on examining the influence of institutional structures and digital technologies on innovation efficiency. Article type: empirical

The article examines the impact of intelligent decision support systems on economic growth through productivity enhancement at the employee, firm, and national levels. It reviews recent empirical studies and official statistical data from 2023–2025, including quasi-experiments and randomized controlled trials, as well as macroeconomic assessments. It is demonstrated that the implementation of intelligent decision support systems increases task efficiency among employees by an average of 15–40%, improves output quality, and contributes to higher revenue per employee at the firm level. At the macro level, integration of these systems can raise total factor productivity and support additional annual labor productivity growth ranging from 0,2 to 1,3 percentage point in developed economies. Key mechanisms of impact include enhanced workplace productivity through real-time recommendations and decision-making, complementarity with organizational and technological firm resources, and the accumulation of intangible assets alongside workforce skill development. The analysis indicates that maximizing economic effects requires policies promoting system diffusion, investments in infrastructure, and personnel training. The study confirms that intelligent decision support systems are a significant tool for efficiency improvement and serve as a driver of sustainable economic growth.

Modern economic theory increasingly emphasizes the role of human capital as a key driver of sustainable economic growth. In this context, population health is not only a social but also an economic asset, directly impacting labor productivity, educational attainment, demographic stability, and society's innovative potential. This article analyzes the relationship between investments in healthcare and the development of high-quality human capital, as well as their combined impact on macroeconomic indicators. Based on theoretical concepts by Gary Becker and Theodore Schultz and contemporary empirical research (including data from the World Bank, WHO, and national statistical offices), this study demonstrates that increased public and private spending on health infrastructure, disease prevention, access to quality health services, and improved sanitation are directly correlated with increased per capita GDP. Particular attention is paid to long-term effects: reduced child and maternal mortality, increased healthy life expectancy, enhanced cognitive abilities in children, and reduced lost work time due to illness. The study also examines case studies of countries with varying income levels, revealing the nonlinear relationship between healthcare investment and economic growth: in low-income countries, the impact of additional healthcare investment is particularly significant. The conclusion emphasizes the need to integrate healthcare policies into national economic development strategies and strengthen intersectoral collaboration between healthcare, education, and the labor force.