Economic Development Initiatives Research Articles

The trade potential of grain crops in the countries along the Belt and Road: evidence from a stochastic frontier model

This study employs the stochastic frontier model (SFM) to analyze trade potential and efficiency in wheat and maize among Belt and Road Initiative (BRI) countries from 2002 to 2021, encompassing 45 countries for wheat trade and 55 for maize trade. The empirical findings reveal that economic development level, population growth, government efficiency, political stability, and regulatory quality are critical determinants of trade efficiency. Notably, World Trade Organization (WTO) membership exhibits a negative correlation with trade efficiency, potentially reflecting challenges in rule implementation and opportunity utilization among member states. In the context of maize trade, increased arable land area is inversely associated with efficiency, suggesting potential issues in managing large-scale agricultural regions or optimizing land use. The BRI’s impact on trade efficiency varies across countries, with Turkey and Hungary showing improved wheat trade efficiency, while Ethiopia and Georgia experienced declines. During the COVID-19 pandemic, effective disease management strategies and diversified trade mechanisms significantly influenced trade efficiency. Furthermore, the study reveals that larger economies do not necessarily outperform small and medium-sized economies in terms of trade potential. These findings contribute significantly to the literature on agricultural trade and offer valuable insights for policymakers, emphasizing the importance of enhancing government efficiency, political stability, and regulatory quality in the context of regional economic development initiatives such as the BRI. This research underscores the need for tailored approaches to trade policy and agricultural management, considering the unique characteristics and challenges faced by different economies along BRI.

Integrating Rural Economic Development into the Adult Basic Education and Training (ABET) Curriculum as a Practice to Ensure Sustainable Livelihoods

Purpose: The purpose of this study is to explore the integration of rural economic development initiatives and practices into the Adult Basic Education and Training curriculum with a view to leverage the people in rural communities to boost their productivity towards sustainable livelihoods. Methodology: This study adopted a qualitative approach in which the data was collected through focus group interviews. The participants were sampled from former and current ABET learners and their principal. The interviews were intended to solicit information about their farming project; how they started the farming and whether they were able to feed their families from the sale of their produce. Findings: The findings from the focus group interviews are that though they had support from the Kruger National Park, they still felt that the Department of Higher Education and Training (DHET) needed to intervene and make ABET a means for sustainable livelihoods for the beneficiaries. Unique contribution to public, policy and practice: This study contributed uniquely in the area of policy. The students proposed that the ABET curriculum needed to be restructured to include skills training to enable them to make a living after the ABET encounter.

Model city failure: New Haven and limits to the entrepreneurial state

ABSTRACT This paper critically examines the concept of the entrepreneurial state by focusing on the case study of New Haven, Connecticut, during the mid-20th century. We delve into the ambitious urban development efforts spearheaded by Mayor Richard Lee and his administration. In particular, we examine the construction of the Chapel Square Mall as a response to urban decline with the hope it would stimulate economic growth. Through a comprehensive analysis of historical records, political dynamics, and the socioeconomic context of New Haven, we highlight the inherent challenges and limitations faced by local governments in acting as entrepreneurs. Our findings reveal that despite the strategic intentions to revitalize the city and foster an entrepreneurial ecosystem, the project ultimately resulted in substantial financial losses, displacement of communities, and failed urban planning ambitions. This case study underscores the complexities of state entrepreneurship at the local level, where political motives, limited information, and the pursuit of voter support can diverge significantly from entrepreneurial objectives, leading to outcomes that are detrimental to both the city’s economic health and its residents. By comparing New Haven’s experience with broader critiques of the entrepreneurial state, this paper contributes to a nuanced understanding of the potential and pitfalls of government-led economic development initiatives.

Financial Inclusion Strategies: A Bibliometric Study of Microfinance and Economic Development Initiatives

Financial inclusion, crucial for equitable economic development, remains a pivotal focus area in global development discourse. Microfinance, an essential component of financial inclusion strategies, aims to provide financial services to marginalized communities, thereby fostering economic empowerment. This study conducts a comprehensive bibliometric analysis of the scholarly literature on microfinance and economic development initiatives. By systematically reviewing and synthesizing a vast array of academic publications, including journal articles, conference proceedings, and book chapters, this study identifies key themes, trends, and research gaps in the field. The analysis encompasses publication trends, citation patterns, thematic clusters, author collaboration networks, and emerging research directions. Findings highlight the evolution of microfinance from its origins to its contemporary applications, with a shift in research emphasis from theoretical underpinnings to practical implementations and regional applications. Moreover, the study identifies underexplored research avenues, such as the role of education in financial inclusion, the impact of microcredit services in specific regions, and regulatory environments for small and medium-sized enterprises. The author collaboration network reveals both robust collaborative clusters and opportunities for new collaborations, reflecting the dynamic and interconnected nature of scholarly engagement in this domain. Ultimately, this study informs evidence-based policy formulation, program design, and academic inquiry, contributing to more effective and sustainable interventions aimed at promoting financial inclusion and fostering economic growth on a global scale.

Evaluating the effectiveness of local economic development strategies within UMhlathuze Local Municipality

Local Economic Development strategies were formulated in response to the stipulations made by the national government of South Africa. The national mandate placed the responsibility on the local sphere of government to promote economic progression from a grassroots level and to contribute to developmental activities within the state. The National Framework LED has been created as a basis for the effective practice of LED in terms of implementation. This paper focused mainly on evaluating the effectiveness of Local Economic Development strategies in uMhlathuze Local Municipality within Empangeni town. This paper and its problem were developed by the researcher due to the growing unemployment rate in South Africa which mostly affects young people, more especially at the municipal level. The researcher was convinced to evaluate how the economic development strategies or initiatives addressing the issue of unemployment and assisting economic development within the uMhlathuze Local Municipality, intending to come up with mechanisms that may be put at hand to ensure the effectiveness of these strategies provided to address economic issues with the municipality. This paper employed qualitative methods to collect and analyze data. Qualitative data were collected from community members and staff of the municipality within the Department of Economic Development through the use of questionnaires. The analysis of qualitative data was done through thematic analysis. The findings of the research revealed that there is a communication breakdown between the community and the municipality to enable the community to use the opportunities for economic development. This paper recommends that the municipality needs to develop/advance communication methods to ensure that the community is informed and aware of the development opportunities that are provided by the community.

THE ROLE OF ENTREPRENEURSHİP İN ECONOMİC DEVELOPMENT AND PROBLEMS OF UNİVERSİTY YOUTH İN THE FİELD OF ENTREPRENEURSHİP

Economic development refers to the sustained, concerted actions of policymakers and communities aimed at improving the economic well-being and quality of life for a region's inhabitants. It encompasses various aspects such as increasing income levels, reducing poverty, creating job opportunities, and enhancing infrastructure and institutional capacity. Key components of economic development strategies often include fostering entrepreneurship and innovation, attracting investments, improving education and healthcare systems, and promoting sustainable development practices. Additionally, economic development efforts frequently focus on addressing inequalities and promoting inclusive growth to ensure that benefits are shared equitably across society. Successful economic development requires collaboration among government agencies, private sector entities, civil society organizations, and local communities. It involves setting clear goals, implementing targeted policies and programs, and continuously monitoring and evaluating progress. Moreover, economic development initiatives must be tailored to the specific needs and circumstances of each region, taking into account factors such as natural resources, demographic trends, and global economic dynamics. Entrepreneurship plays a critical role in economic development, driving innovation, job creation and sustainable growth. Entrepreneurs not only form new companies, but also develop and implement new ideas, technologies and management methods, which contribute to increased efficiency and competitiveness. Their activities help expand markets, stimulate competition and create favorable conditions for economic recovery. Entrepreneurship is also a key source of new jobs. The creation of enterprises leads to an increase in the need for labor, which in turn helps to reduce unemployment and increase the level of employment in society. Small and medium enterprises, often started by entrepreneurs, are particularly important in this context as they are catalysts for the growth and development of local economies. Moreover, entrepreneurship contributes to the distribution of wealth and social mobility. Self-employed entrepreneurs can act as drivers of social change by supporting community and charitable initiatives. Thus, they influence not only the economic landscape, but also social and cultural aspects, contributing to the diversity and development of society as a whole. However, despite the importance of entrepreneurship, young people, especially university students, face a number of challenges when trying to get involved in this field. One of the main problems is the lack of information and understanding of the processes of creating and running a business. University curricula do not always cover entrepreneurship sufficiently, which can create a barrier for students wanting to start their own business. Financial constraints also play a role in limiting entrepreneurial opportunities for university youth. Young entrepreneurs often find it difficult to obtain financing for their projects, as banks and investors may view them as high-risk clients. Additionally, students may lack the experience and professional skills necessary to successfully manage a business. Lack of practical experience and skills in marketing, human resources and finance can be a barrier in the path of young entrepreneurs. To solve these problems, it is necessary to make changes to university curricula, including teaching entrepreneurial skills, as well as creating special programs and support measures for students who want to engage in entrepreneurship. Networking with successful entrepreneurs, providing access to financial resources and creating infrastructure for start-ups can also help promote entrepreneurship among university youth. Overall, youth entrepreneurship development is an important factor for sustainable economic growth. Supporting and stimulating young entrepreneurs can lead to the emergence of innovative projects, new jobs and enrichment of society as a whole. Keywords: economic development, entrepreneurship, university, student entrepreneurship

Islamic Social Finance: Exploring Zakat, Waqf, and Sadaqah in Economic Development

Islamic social finance has an important role in inclusive and sustainable economic development. In this context, zakat, waqf, and sadaqah become important instruments that can be used to mobilize resources and support economic development initiatives. However, challenges such as lack of public awareness, preference for conventional financial institutions, and lack of supportive regulations still need to be overcome.

Assessing the Impact of Prime Minister Welfare Schemes on Beneficiaries with Special Reference to Tamil Nadu, India

This research article presents a comprehensive study on the impact of Prime Minister Welfare Schemes (PMWS) on beneficiaries in Tamil Nadu, a southern state of India. The PMWS represent a pivotal component of India’s social and economic development initiatives, aiming to uplift marginalized communities and improve their living standards. This study investigates the effectiveness and outcomes of these schemes in the unique socio-cultural context of Tamil Nadu.Tamil Nadu, a state with a rich cultural heritage and a diverse demographic landscape, serves as an ideal microcosm to investigate the efficacy and outcomes of these schemes. This research, conducted through a combination of quantitative and qualitative methods, aimed to assess the implementation, accessibility, and outcomes of various Prime Minister Welfare Schemes in Tamil Nadu. The study focused on beneficiaries across different age groups, genders, and socioeconomic backgrounds.Key findings from the research include an examination of the utilization of schemes such as Pradhan Mantri Awas Yojana (housing for all), Pradhan Mantri Jan Dhan Yojana (financial inclusion), Pradhan Mantri Ujjwala Yojana (clean cooking fuel), and Pradhan Mantri Kisan Samman Nidhi (income support for farmers), among others. The impact assessment encompassed several dimensions, including economic upliftment, healthcare access, women’s empowerment, and education.

Singapore's Economic Development and Digital Transboundary Initiatives of the ASEAN Economic Community: An Instrumental Perspective

Singapore's Economic Development and Digital Transboundary Initiatives of the ASEAN Economic Community: An Instrumental Perspective

Catalyzing India's Progress: Integrating Youth Empowerment, Skill-Based Education, and Economic Development Initiatives

India, home to the world's largest youth population, recognizes its youth demographic as a pivotal 'window of opportunity' for national growth and development. The challenge lies in proactively addressing the multifaceted needs of this demographic to harness its potential effectively. This paper explores the intersection of youth, skill-based education, and national development, emphasizing the critical role of skill-based education in equipping the youth for a dynamic job market and fostering comprehensive socio-economic development. The National Education Policy 2020 serves as a transformative milestone, envisioning a holistic education system aligned with 21st-century goals. Key features include universal access to schooling, vocational integration, and targeted literacy goals, reflecting a commitment to nurturing a skilled and enlightened youth. The Micro, Small, and Medium Enterprises (MSME) sector emerges as a crucial player in inclusive industrial development, providing substantial employment opportunities and contributing significantly to the nation's economic fabric. The state of Odisha aligns with the national vision, undertaking initiatives contributing to the overarching goal of youth development and community engagement..The impact of these endeavors not only contributes to economic growth but also lays the groundwork for a socially conscious and globally competitive nation.

Bridging the socioeconomic gap in E-waste: Evidence from aggregate data across 27 European Union countries

The responsible handling of e-waste has become a critical worldwide concern since, as it is essential for both environmental protection and human health because. This is because it prevents the release of harmful chemicals and reduces the ecological impact associated with the electronic waste disposal. Despite efforts the e-waste collection remains low due to a variety of reasons, including inadequate collection systems and socio-economic disparities. The present study aims to investigate the socioeconomic determinants affecting the level of e-waste in a sample of 27 EU countries for the period 2005–2020. The empirical analysis contributes to the existing literature by estimating the short- and long-term relationship between e-waste collection and corruption, income inequalities, imperfect gas market structures and labor market conditions. For this purpose, the study employs panel data techniques and cointegration analysis. The findings robustly suggest that countries with higher levels of socio-economic justice tend to exhibit higher e-waste collection levels, while the concentration of market share among a few dominant natural gas companies decreases collection levels. Low e-waste collection is also associated with concentrated income in the hands of a few individuals in both the short-and long-run. By advocating for equitable resource allocation and establishing a supportive environment, we can encourage increased levels of e-waste collection. Encouraging gas market entries and discouraging anti-competitive practices through regulatory frameworks is also crucial. Strategies to reduce wealth disparities and promote income equality involve implementing progressive taxation systems, redistributive policies, and inclusive economic development initiatives.

South African Public Sector Post-Apartheid Economic Initiatives For Human Development: Why Were The Strategies Short-Lived?

This paper investigates the extent to which the national economic initiatives introduced in post-apartheid South Africa were successful, why they were removed and why they were unsustainable or indefensible. In order to address the research questions, this study used a qualitative design involving the views of government officials who participated in the formulation of national policies. A total of six officials for each strategy (RDP, GEAR, ASGISA, NGP, NDP, DDM) were sampled purposively, in order to generate rich information on the performance of each policy considered, and the decision to replace the policy. A semi-structured survey form was developed for this purpose. The study results show that none of the economic strategies were able to decisively change the trajectory of South Africa’s economic development. The key reasons are the removal of the economic strategies before they achieved the stated objectives potential; inability to adjust and refocus strategies continuously; a lack of implementation and monitoring capacity. The study contributes to the understanding of how South Africa’s economic development strategies performed and why they were removed. This informs future approaches to the development and management of economic strategies. The findings suggest that there must be sound and consistent public management to drive and coordinate implementation, in order for economic development initiatives to be effective.

Rencana Pembangunan Kawasan Industri terhadap Perkembangan Nilai Tanah: Studi Kasus di Kabupaten Cilacap Tahun 2023

ABSTRACT The availability of suitable land is a crucial factor in determining the success of regional development. In 2022, as part of their regional economic development initiative, the Cilacap Regional Company planned to establish the Cilacap Industrial Zone, leading to significant changes in land use and a potential impact on land prices in the surrounding area. Regions undergoing high development activities tend to experience an increase in land value. Consequently, there exists the possibility of potential changes and developments in land value around the Cilacap Industrial Zone. This study aims to analyze the extent of increase and the pattern of land value distribution in locations surrounding the Cilacap Industrial Zone. The research method employed was a survey approach with a quantitative methodology. The findings reveal that the planned development of the Cilacap Industrial Zone resulted in an increase in land value, particularly in agricultural lands, with an average increase of Rp 441.744/m2. The distribution pattern of land value in the vicinity of the Cilacap Industrial Zone can be categorized into 11 groups, with percentage increases ranging from below 100% to above 400%. Keywords: land value, Cilacap Industrial Zone, distribution pattern, industry.

Functionality of Farmers’ Stores and Local Economic Development Initiatives in Oyam District: A Case of Aber Sub-County

Purpose: This study examined the relationship between the functionality of farmers’ stores and LED initiatives. Specifically, the study determined the effect of farmers’ stores functionality on resource mobilisation; assessed the contribution of farmers’ stores functionality on resource management; and assessed the effect of farmers’ stores functionality on resource utilisation.
 Methodology: The study adopted a cross-sectional study design, which employed a mixed methods approach of both quantitative and qualitative methods. The study population consisted of 322 respondents, which involved both political leaders and civil servants of Aber Sub County in addition to members of the farmers’ groups. Both the Simple random sampling technique and purposive sampling technique were used to select a sample of 177 participants. The researcher adopted Self-Administered Questionnaires to collect quantitative data and an interview guide to collect qualitative data. Both descriptive statistics (mean, and standard deviation), and inferential statistics (correlation and regression) were used to analyse numerical data. Content analysis was used to analyse qualitative data.
 Findings: The findings revealed a statistically significant positive relationship between functionality of farmers’ stores and LED initiatives. The functionality of farmers’ stores yielded a significant effect on resource mobilisation, resource management and resource utilisation. It was concluded that the functionality of farmers’ stores significantly affects LED initiatives in Aber Sub County, Oyam district.
 Unique Contributions to Theory, Policy and Practice: It is recommended that the production and agricultural department of Oyam district local government strengthens the capacity of farmer groups by training them on activities such as value addition and financial management so that they can be in position to mobilise more financial resources. This study contributes an original and empirical-evidence of the functionality of farmers’ stores towards LED initiatives in Uganda.

Functionality of Farmers’ Stores and Local Economic Development Initiatives in Oyam District: A Case of Aber Sub-County

Purpose: This study examined the relationship between the functionality of farmers’ stores and LED initiatives. Specifically, the study determined the effect of farmers’ stores functionality on resource mobilisation; assessed the contribution of farmers’ stores functionality on resource management; and assessed the effect of farmers’ stores functionality on resource utilisation.
 Methodology: The study adopted a cross-sectional study design, which employed a mixed methods approach of both quantitative and qualitative methods. The study population consisted of 322 respondents, which involved both political leaders and civil servants of Aber Sub County in addition to members of the farmers’ groups. Both the Simple random sampling technique and purposive sampling technique were used to select a sample of 177 participants. The researcher adopted Self-Administered Questionnaires to collect quantitative data and an interview guide to collect qualitative data. Both descriptive statistics (mean, and standard deviation), and inferential statistics (correlation and regression) were used to analyse numerical data. Content analysis was used to analyse qualitative data.
 Findings: The findings revealed a statistically significant positive relationship between functionality of farmers’ stores and LED initiatives. The functionality of farmers’ stores yielded a significant effect on resource mobilisation, resource management and resource utilisation. It was concluded that the functionality of farmers’ stores significantly affects LED initiatives in Aber Sub County, Oyam district.
 Unique Contributions to Theory, Policy and Practice: It is recommended that the production and agricultural department of Oyam district local government strengthens the capacity of farmer groups by training them on activities such as value addition and financial management so that they can be in position to mobilise more financial resources. This study contributes an original and empirical-evidence of the functionality of farmers’ stores towards LED initiatives in Uganda.

Does tax increment financing affect business survival and failure in Chicago, Illinois?

ABSTRACT This study examines how and to what extent tax increment financing (TIF) affects changes in business operations—the risk of businesses moving away from their original locations in Chicago, Illinois. Using a Cox proportional hazard regression with multi-year business license datasets, the study finds that TIF districts are not a favorable environment for existing businesses that opened prior to the actual TIF-funded investments, leading to more business closures than their counterparts outside of the districts; on the other hand, new businesses that opened after the TIF investments are better equipped to survive in and around TIF districts than the comparable areas. The study provides a better understanding of the survival and exit patterns of businesses induced by public tax policy, as well as of what factors are ascribed to such business market dynamics and transformations. Findings from this study will yield valuable reference data for both planners and policymakers in decision-making processes for future economic development and corresponding tax policy initiatives.

CPEC: Challenges, Opportunities and Socio-Economic Impact on The Muslim World

The China-Pakistan Economic Corridor (CPEC) is a flagship project within China's ambitious Belt and Road Initiative (BRI). It stands as a corridor encompassing road, railway and maritime infrastructure development, primarily aimed at fostering economic growth. This vast network extends its reach across the Asian continent, with Pakistan at its center, while also involving other Muslim-majority nations, including Iran, Afghanistan, Saudi Arabia, UAE, and several Central Asian States. The key promise of CPEC lies in its potential to revitalize the economies of developing countries at large and Muslim-majority nations in particular. The allure of CPEC for participating nations is evident, especially for those facing financial constraints and a dire need for infrastructure development, as it presents a lifeline for economic progress. However, beneath the surface of economic opportunity, there loom socio-economic challenges that warrant careful consideration. These challenges have the potential to impact the relationships between Muslim-majority countries and the Western world, with a specific focus on the Middle Eastern countries. It is within this complex and dynamic context that this research article seeks to provide a comprehensive analysis. The article intends to shed light on two fundamental aspects: firstly, it aims to gauge the willingness of Muslim-majority countries to become integral parts of the CPEC project, evaluating the extent to which they embrace this economic endeavor. Secondly, the research delves into China's role in the region by examining how its economic support and infrastructural development initiatives influence Muslim-majority states. This examination is critical for understanding the opportunities and challenges that the CPEC project presents to the Muslim world and its relationships with the West, especially Middle Eastern nations.

The Plight of Child Labor in Pakistan: An Economic Perspective

Child labor is a widespread problem in most less-developed countries, with Pakistan being no exception to it. The study tries to shed light on some push factors that contribute to the high prevalence of child labor in Pakistan by utilizing the Autoregressive distributed lag (ARDL) model and time series data from 1984 to 2020. We find that the increase in secondary school enrollments and per capita income of families can significantly reduce the extent of child labor. Similarly, inflation, population growth, and young dependency also aid in child labor. The provision of quality education in schools and vocational training programs for children, particularly in marginalized and impoverished communities may be key to reducing the prevalence of child labor. The government may introduce targeted social safety net programs and economic development initiatives to lift families out of poverty

Project Risk Management Strategies and Performance of Socio-Economic Projects in Rwanda: A Case of Urban Economic Development Initiative Project

The purpose of this study was to assess the effect of Project risk Management Strategies on the Performance of the Urban Economic Development Initiative Project. The study was guided by the following specific objectives: To assess the effect of project risk planning strategy on the performance of the Urban Economic Development Initiative Project, to evaluate the effect of risk assessment strategy on the performance of the Urban Economic Development Initiative Project, to assess the effect of risk responses on the performance of the Urban Economic Development Initiative Project. A descriptive design was used for this research project. The study’s target population was equal to sample size of 45 due to population less than 100. Both primary and secondary research approaches were utilized in order to compile the data. For the primary data collection, the researcher adopted questionnaires, and for the secondary data collection, the researcher applied a documentary review. The gathered data was evaluated using both descriptive statistics, such as the use of frequency and percentage as well as the mean and standard deviation, and inferential statistics, such as the use of multiple linear regression analysis. Tables were employed to exhibit the results of the investigation, and a pilot study was carried out to evaluate the validity and reliability of the instrument that was utilized in the data collection process. The results showed that Pearson Coefficient Correlation indicated that .694 relationship between project risk assessment strategy on the performance of Urban Economic Development Initiative Project. The third specific objective revealed the effect of project risk responses on the performance of the Urban Economic Development Initiative Project, the results showed that 8.9% strongly agreed and 88.9% agreed that reducing project risks contributes to the performance of the Urban Economic Development Initiative Project. In addition, project risk response improves the performance of the Urban Economic Development Initiative Project at r=.861 which is a strong positive correlation. The study concluded that risk planning, risk assessment, and risk response contribute highly to the performance of the project. In recommendation, project key stakeholders should apply risk avoidance strategy to improve the performance of socioeconomic project Keywords: Project Risk Management, Performance Measurement, Socio-Economic Projects, Urban Economic Development, Risk Management Strategies, Rwanda's Development Initiatives

Dewey, Implementation, and Creating a Democratic Civic University

Dewey, Implementation, and Creating a Democratic Civic University