Prospects For Economic Development Research Articles

Digital Financial Capability Towards Improving Entrepreneurial’s Business Performance

Digital financial, play a vital role for the country growth, provides the prospects for encouraging economic development during the looming economic downturn. Entrepreneurs play a significant role in economic growth and development. Today, digital financial become a large portion among entrepreneurship to increase their business performance. The objectives of this research to study the capability of financial digitalization towards entrepreneurial business. Therefore, on the base of previous literature, we developed hypothesis digital financial, and data collected through structured questionnaires among entrepreneurs. The findings of this research endeavour to shed light on developing and popularizing digital financing by providing services which are cheap, secure, and low risk from a supply-side perspective, as well as adopting and adjusting digital financing by enhancing financial literacy, which would be necessary from the demand-side perspective. Therefore, to facilitate entrepreneurial success and improvement in entrepreneurial industry, it is important to provide entrepreneurs with financial education. Meanwhile, improvements to the financial environment should also be considered.

Integration processes in MERCOSUR: modern features and dynamics of development

The article examines the current state and prospects for the development of the MERCOSUR integration association – the common market of South American countries. The purpose of the analysis carried out in the article is to determine the role and place of Argentina in MERCOSUR. The subject of the study is the integration association in MERCOSUR, and the object is the modern specifics of integration processes within the framework of the association. The article analyzes the main macroeconomic indicators of the association and the structure of trade both within the bloc and with third countries. Based on a comprehensive and in-depth statistical analysis based on data from the international database of UNCTAD, the authors conclude that the prospects for further economic development of MERCOSUR are quite promising. The countries of the association are steadily increasing their economic potential, as well as the level of mutual cooperation in various fields – trade, investment, and digitalization. The Association is increasingly actively cooperating with third countries, largely due to Brazil's participation in the BRICS. Thus, the article shows that the integration process has advanced in qualitative aspects, and the prospects for its further development can be assessed as positive. At the same time the integration process in MERCOSUR is not free from problems and difficulties at both the country and continental and global levels, which limit and restrain its further deepening and development. The study period is 2012–2022. As a methodology, the article uses reliable statistical information and provides its comparative analysis using visual methods. The authors used historical and complex approaches.

Synthesis Method and Principle of Octahedral Hierarchical LTA Zeolite and Its Application to Enhance Catalytic Activity in Styrene Epoxidation.

A 4 Å zeolite prepared under the synergistic effect of intense ultrasound and a high-voltage electrostatic field had an octahedral structure rather than a conventional hexahedral structure. XPS and XRD analyses showed that the ratio of silicon to aluminum, 2θ peak position, and the corresponding crystal planes were the same as those in traditional hexahedral 4 Å zeolite, but some crystal planes were more prominent. SEM imaging showed that the octahedral zeolites had a larger particle size. Porosimetry (BET surface area and BJH analysis) showed that the octahedral zeolite had become a mesoporous zeolite, and its specific surface area increased and its pore size expanded, which was conducive to loading catalytically active materials and thus improving its catalytic performance. In this paper, the mechanism of formation of hierarchical LTA zeolite is discussed, and the octahedral hierarchical LTA zeolite is used to catalyze the epoxidation of styrene, giving very good results. It is concluded that the (600), (622), (642), and (644) crystal planes played a decisive role in the styrene epoxidation reaction, providing a realistic basis for explaining the crystal plane catalysis effect of the 4 Å zeolite. This new zeolite prepared under the synergistic effect of intense ultrasound and a high-voltage electrostatic field, being the first time to prepare the octahedral hierarchical LTA zeolite, is simple to produce, green, and environmentally friendly and has good economic development prospects compared to the use of templating agents, which not only provides ideas and simpler methods for optimizing the performance of traditional zeolites and developing new zeolites with better performance but also enhances the theoretical basis for preparing new zeolites.

A Study on the Evaluation and Determinants of Green Economic Efficiency: Empirical Evidence from Provincial Panel Data in China

In the past decades, China has continued to pursue the quantitative expansion of economic development at the expense of the environmental quality resulting in high environmental degradation. Hence, this study evaluates the economic efficiency under the constraints of energy and environment, as well as unravels the determinants of economic efficiency in 30 provinces in China during 2005 to 2019. It deploys the improved super-efficiency Slack-Based Measure (SBM) model and Tobit regression model. The statistical results show that economic growth efficiency displays a declining trend in recent years in China. However, there is a regional heterogeneity of green economic efficiency across the provinces, with the efficiency values exhibiting a clear downward stepwise distribution from the eastern to western region. Moreover, the regression results indicate that energy consumption and GDP growth have significant adverse effects on green economic efficiency. This implies that China’s economic growth is excessively reliant on energy consumption which exceeds the environmental carrying capacity, causing a decline in green economic efficiency. The study of China’s economic efficiency is fundamental because it explores the potential space for sustainable growth as well as provides clarity on the current status and prospects of economic development with a view to avoiding economic stagnation and providing policy support for sustainable economic development. Therefore, policy makers should proactively take measures to improve energy efficiency and shift economic development targets from quantitative expansion to qualitative improvement that facilitates green economic efficiency. Based on the empirical results of the different regions, this study also provides some respective policy recommendations.

Социокультурные основы экономики современной России

The intricate interplay between socio-cultural underpinnings and economic dynamics in modern Russia is the focal point of this scholarly investigation. By conducting a comprehensive analysis of extant scholarly literature, this study delineates the current state of socio-cultural foundations and elucidates their impact on economic phenomena, mediated through the behavioral patterns of various groups of citizens. Employing a multifaceted approach, the research incorporates surveys targeting representatives from varied socio-cultural groups, thereby furnishing empirical insights into the nexus between socio-cultural factors and economic outcomes. Findings gleaned from the study unveil the nuanced influence of socio-cultural foundations on economic trajectories, thus underscoring the significance of these foundations in shaping the economic milieu. Moreover, the article delves into pragmatic recommendations aimed at bolstering the economic landscape of Russia, emphasizing the imperative of fortifying socio-cultural foundations and devising efficacious economic strategies. This scholarly exposition holds relevance for practitioners across disciplines including economics, sociology, cultural studies, and political science, offering valuable insights into the challenges and prospects of economic development in modern Russia.

Reevaluating energy progress: An in-depth policy framework of energy, urbanization, and economic development

Pakistan has challenging energy-related economic concerns, including accessibility, affordability, and sustainability, all of which significantly impact the country's economic development and growth prospects. This study seeks to uncover the intricate link between energy use, power costs, urbanization, alternative energy consumption, and economic development from 1970 to 2018. Utilizing the Autoregressive Distributed Lag (ARDL) approach, Frequency Domain Causality (FDC), and Innovative Accounting Approach (IAA), the research finds that energy use and urbanization positively impact economic development in the short and long term. Conversely, alternative energy consumption declines in the short run, while rising power costs negatively affect long-term economic development. FDC results indicate that rising power costs affect economic development in the short, medium, and long run, while urbanization has a long and short-term and energy use has a long- and medium-run impact on economic development in Pakistan. IAA aligns with ARDL and FDC hypotheses. This underscores the vital role of energy use and costs in economic activity, emphasizing the need for prudent urbanization and strategic alternative energy integration in long-term policy for Pakistan.

Analysis of Influencing Factors of Economic Development and Growth

This article is based on the background of economic development and economic development is an important factor for a country or region to achieve prosperity and sustained growth. With the advancement of globalization and the rapid development of science and technology, economic development has become one of the top priorities for many countries. and reviews 12 literature on the economic development of China and other countries. It provides detailed reviews and suggestions on the ARDL model, multiple linear review model, spatial analysis method, and DSDM model to analyze economic growth factors, economic growth factors in some regions of China and Europe, and economic growth factors in fisheries, coal industry, tertiary industry, and tourism, The conclusion was drawn that Chinas overall economic development prospects are good and there are great opportunities, and the economic specialization of the European Union cannot ensure economic growth. Suggestions were given for the economic development of some industries, environmental economy, and green economy in China.

MAJOR FEATURES OF MANAGING SOCIO-ECONOMIC DEVELOPMENT OF THE REGION IN CRISIS CONDITIONS

The global crises that the Russian economy has to face contribute not only to the destruction of traditional trade, economic and logistics ties, but also to improving the quality of state strategic management. The macroeconomic situation develops in such a way that centralized planning and regulation of socio-economic processes becomes a tangible advantage and can produce high effect both in the long term and in tactical perspective. The advantages will be given to those subjects of the Russian Federation whose management will be carried out on the basis of a system of balanced measures to support reproductive processes, a reasonable redistribution of financial, economic and human resources and comprehensive programs aimed at overcoming interrelated constraints. The article presents an overview of scientific and theoretical approaches to managing socio-economic development of regions, taking into account spatial and territorial features of the organization of economic activity and current global trends. The trends of socio-economic development of the Sverdlovsk region and the peculiarities of regional management in conditions of increasing crisis pressure are considered. The purpose of the article is to develop an algorithm for crisis management of the region, taking into account the state and prospects of economic development. The authors argue that governance in the region is characterized by specific characteristics, the main task of which is to ensure stable socio-economic development, regardless of the influence of negative factors of an economic, political or social nature using effective tools that proactively affect problems and constraints. The authors determine the necessity to identify the factors contributing to the development of crisis situation in the region, which will significantly improve the quality of program development according to industry and subject criteria. The analysis of socioeconomic indicators of the region's development allowed us to draw conclusions concerning the effectiveness of targeted support by industry and subject criteria, which is currently widely used in Russia.

DIRECTIONS OF FORMING A BARRIER-FREE ENVIRONMENT IN TOURISM FOR PEOPLE WITH DISABILITIES: THEORETICAL ASPECTS

ABSTRACT. In the conditions of military aggression against Ukraine by Russia, Ukrainian society not only did not lose its social orientation, but on the contrary, focused attention on the prospects of a humane, socially oriented society. Providing a barrier-free environment for people with disabilities in tourism is a marker of the social development of society and is related to the prospects of the country's economic development. People with disabilities and their family members, guardians and others are concerned about the problems and tasks faced by Ukrainian society. Solving these problems was limited due to the state's financial problems. In connection with the increase of people with disabilities due to war and environmental problems, progress in the activation of social orientation and the development of inclusiveness of communities, Ukraine's accession to the EU - the question of the possibilities of people with disabilities to lead an active social and productive life is being updated. That is why the issue of creating a barrier-free environment in tourism, as one of the directions of social and physical rehabilitation and ensuring the normal life of people with disabilities, cannot be ignored. Research methodology. To achieve the set goal, research and analysis of Ukrainian and foreign scientific literature, including authors from the countries of the EU, the United States, and Japan, was carried out. The main differences in the definition of concepts have been identified, the information obtained has been summarized and the directions for further research have been identified. The results. In the article, the main approaches to the definition of synonymous concepts «barrier-free tourism» are analyzed. The similarity, but not the identity, of the trmins is determined. The main problems and barriers that people with disabilities face due to the lack of a complex approach to solving an actual problem have been identified. Scientific novelty. On the basis of the study of the definition of the concept of «tourism for people with disabilities», the definition of the concept of «barrier-free tourism» is given. The рractical significance. The presented study offers a complex approach to solving the problem of implementing complex accessibility of a barrier-free tourist environment with an emphasis on web, Internet, and software accessibility for people with disabilities.

Azerbaijan: pathways for decarbonization in a global context

ABSTRACT As economies around the world are increasing their mitigation ambitions, Azerbaijan’s lingering dependency on fossil fuel exports threatens its medium – and long-term economic development prospects. Global decarbonization is expected to directly impact the country’s resource rents through lower fossil fuel demand and prices. In this regard, it is crucial to understand the potential implications of the global mitigation efforts on the economy of Azerbaijan and evaluate the domestic mitigation policies. To address this gap in the literature, we use a global dynamic computable general equilibrium model and explore a set of forward-looking climate policy scenarios till 2060. Our results suggest that while being adversely impacted by decarbonization efforts in countries around the world, it is in Azerbaijan’s self-interest to implement domestic mitigation policies. With proper sequencing and design of such policies, including a combination of fossil-fuel subsidies reform, the introduction of carbon prices post-2030 and recycling of the additionally collected revenue via reduced factor taxes, the country could achieve NDC targets, boost economic growth and increase economic diversification. More ambitious mitigation efforts, consistent with reaching net-zero emissions by 2060 would result in substantial health co-benefits from improved air quality, which could almost fully outweigh the direct economic costs of such mitigation.

Rural Brokers: The Intermediary Role and Challenges in Advancing Rural Development through Contract Farming

This article extensively explores the implications of contract farming on rural brokers, emphasizing their pivotal role and the inherent challenges within this domain. It comprehensively elucidates the concept and efficacy of contract-based agriculture, highlighting the crucial role played by rural brokers in advancing rural development. The analysis underscores how the rise of contract farming has not only facilitated the emergence and evolution of rural brokers but has also brought about a transformation in their operational roles. However, contract farming has introduced a myriad of challenges for rural brokers. This article meticulously enumerates these challenges and proposes strategic pathways for the development of rural brokers engaged in contract farming. A comprehensive examination emphasizes the intricate symbiosis between contract-based agriculture and rural brokers. Their collaborative synergy not only fosters agricultural modernization but also unveils novel prospects for sustainable rural economic development.

Analysis on the Challenges and Countermeasures of Chinas Sharing Economy

The sharing economy has attracted much attention in China in recent years. The sharing economy has significant development significance and good development prospects for Chinas overall economic development. On the other hand, there are still many problems in the domestic sharing economy system, and continuous efforts should be made to promote the orderly and healthy development of the sharing economy. However, it cannot be ignored that China has perfected the existing defects of the sharing economy and promoted its use. It will surely inject great optimism into Chinas economic development. The research theme of this article is to discover the challenges facing the development of Chinas sharing economy and find strategies to deal with them. The research method of this paper is literature analysis, and the research conclusion of this paper is that the challenges faced by the domestic sharing economy are, respectively, an imperfect social system, a great conflict with the traditional economy, and a regulation of the sharing economy that needs to be improved. The corresponding strategies are: first, to improve Chinas per capita quality level; second, to improve the social credit information system; and third, to improve the supervision system of the sharing economy.

Постмодернизм как культурное основание цифровой экономики

Nowadays, post-modernism is a cultural correlate and philosophical foundation of digital economy and modern capitalism. The article analyzes current approaches to the def-inition of such concepts as post-modernism and post-capitalism. Significant modern theories concerning the prospects of economic development in the context of digitalization and glob-alization are considered.

ВЫЗОВЫ И ПЕРСПЕКТИВЫ РАЗВИТИЯ ЭКОНОМИКИ В УСЛОВИЯХ АВТОМАТИЗАЦИИ ПРОИЗВОДСТВА

This scientific article examines the challenges and prospects for economic development in the context of industrial automation. Modern technologies, such as artificial intelligence, robotics, the Internet of things and digital platforms, are significantly changing the industrial sector and creating new economic realities. The article analyzes the main challenges that countries and companies face when introducing automation, and also explores the prospects for using these technologies to increase productivity, reduce costs and create new jobs.

俄乌冲突影响下中俄经贸关系：发展现状与建议

Since February 24, 2022, the conflict between Russia and Ukraine has fully intensified. Since the Russia-Ukraine conflict, the West has imposed comprehensive sanctions on Russia. The economic relations between Russia and the West began to break down, Russia subsequently broke away from the International Settlement system (SWIFT), the ruble currency depreciated severely, and the logistics links became more complicated. The economic sanctions of Western countries have put Russia’s economy and finances under great pressure in the short term. In order to counter Western sanctions, Russia has begun to continuously strengthen its relations with China, especially in the field of economic and trade cooperation. As the world’s second largest economy, China has the world’s largest consumer market, which is of great significance to help Russia get rid of the “sanctions crisis”. By drawing on and analyzing relevant online news, the latest data provided by the General Administration of Customs of China, etc., this article introduces the current situation of China-Russia economic and trade development under the influence of the Russia-Ukraine conflict, analyzes the factors affecting the development of China-Russia economic and trade, looks forward to the prospects of China-Russia economic and trade development, and explores how China should appropriately deal with the issues of China-Russia economic and trade relations. The authors believe that in the context of the new era of comprehensive strategic cooperation and partnership between China and Russia, China should pay attention to the following aspects in the process of promoting the development of China-Russia economic and trade relations: formulate multiple sets of emergency plans and adopt appropriate financial and monetary policies; develop Russian economic and trade relations while taking into account economic and trade relations with other countries; strengthen the construction of infrastructure at China-Russia border crossings to better serve the “Belt and Road” initiative, etc.; Strive to maintain China’s image and correctly guide the Chinese people’s public opinion on the Russia-Ukraine conflict.

ВНЕШНИЙ ГОСУДАРСТВЕННЫЙ ДОЛГ РОССИИ И ЕГО ВЛИЯНИЕ НА ЭКОНОМИКУ В ТЕКУЩИХ ГЕОПОЛИТИЧЕСКИХ УСЛОВИЯХ

The article presents an analytical review of the state of Russia’s external public debt under the influence of the sanctions policies of Western countries and the formation of prospects for economic development. The main approaches to the interpretation of the concept of external public debt are determined, and an analysis of the dynamics of indicators of the influence of external public debt on economic stability is performed. The results of the study show that despite the comprehensive pressure, the economic situation as a whole is characterized by stability, in turn, the rational policy of government authorities provides the opportunity to contain inflation processes that directly affect both the external and internal state of the state’s economic systems.

Міжнародний досвід надання державної допомоги підприємствам в особливих умовах

Introduction. The coronavirus pandemic has led to disruptions in supply chains at both the global and national levels. State support for economic agents plays an important role in maintaining economic activity of business entities. The purpose is to identify best practices in the field of state aid through the study of international experience in implementing state support programs for enterprises in special conditions (the case of EU). Research methods: basic methods of policy analysis (institutional analysis, descriptive analysis); synthesis and generalization of the data obtained; graphical method (to ensure the clarity of the data). Results and conclusions. The institutional mechanism for supervision and control over the expediency of state aid at the EU level is represented by a standard document, which is supplemented by specific aspects in accordance with the funding program. An important feature of the mechanism for allocating state aid in the EU is the creation of prerequisites for proper oversight of the expediency of using funds, transparency of decisions and accountability of applicants. Information support for disclosure of data by enterprises applying for participation in state aid programs is based on the disclosure of reliable information on the current state of financial and economic activity and development prospects. This has created a strong reporting infrastructure for companies, which includes general purpose financial statements, a management report, and a sustainability report as part of it (or as a separate document). The introduction of corporate sustainability reporting in Ukraine as a source of assessing the admissibility of state aid through the implementation of EU directives is a promising area for further research.

Валовий внутрішній продукт України в контексті глобальних викликів

The article analyses the dynamics of Ukraine's GDP in the light of social and political challenges of recent years. Ukraine's GDP dynamics were negatively affected by the COVID-19 pandemic and the ongo-ing full-scale russian invasion. The factors that caused a slowdown in economic growth in most regions of the world are also outlined: large-scale quarantine measures, supply chain disruptions, the abolition of fiscal stimulus for economic development, and tight monetary policies of central banks in developed coun-tries. The dynamics of nominal and real GDP for the period 2007-2022 are analyzed. The analysis allowed to conclude that the changes in nominal and real GDP of Ukraine in 2018-2022 are synchronized, which is confirmed by the calculated correlation coefficient. The article examines the dependence of Ukraine's GDP on such factors as exports, imports, direct investments, inflation, unemployment and the minimum wage. For this purpose, the authors used correlation and regression analysis to identify the most important fac-tors of influence among the selected macroeconomic indicators. The authors also identify the main prob-lems faced by the national economy in recent years and emphasize the need to take effective measures to mitigate them. The purpose of the research is to provide a comparative analysis of the condition of the national economy through the analysis of macroeconomic indicators, specifically gross domestic product in differ-ent periods: in the context of global challenges caused by the pandemic and military aggression of the Rus-sian Federation. To achieve this goal, a series of tasks are required: to analyse the level of GDP and assess the impact of the COVID-19 pandemic on the Ukrainian economy; to identify the main challenges faced by the Ukrainian economy under martial law; to analyse changes in various indicators that describe the eco-nomic, technological, investment and social aspects of the country; to study measures taken by the gov-ernment and determine the prospects for economic development in the context of post-pandemic and post-war recovery. The research methods: are comparison, explanation, abstraction, empirical analysis and synthesis, a combined method of similarity and divergence.

ВЛИЯНИЕ САНКЦИЙ НА ЕВРОПЕЙСКИЙ ЭНЕРГЕТИЧЕСКИЙ РЫНОК И ЭКОНОМИКУ РОССИИ

This article reviews the views of prominent Russian economic figures on the imposed economic sanctions, as well as their foreign colleagues. An analysis is made of the benefits of sanctions against Russia for the main participants in the “Western coalition”. Using the example of the natural gas market, the inappropriateness of blocking energy supplies from Russia is shown. The financial losses from the unfinished Nord Stream 2 project are presented, and how instability in interstate relations between Russia and the EU affected the price of natural gas on the European energy market is considered. In conclusion, conclusions are presented and prospects for economic development for Russia under conditions of sanctions pressure are outlined.

The Caucasus of the Second Half of the 19th Century through the Eyes of a Russian Merchant: From the Travel Notes of Mikhail Konstantinovich Sidorov

The article studies a historical source that previously was not in the focus of research - travel notes of the outstanding Russian merchant of the 19th century, gold miner, and discoverer of the Northern Sea Route Mikhail Konstantinovich Sidorov, which he wrote during a trip to the North Caucasus and Transcaucasia in August – September 1878. It aims to analyze the notes, characterize their content, and reveal the information potential for further study of the processes that took place among the forming Russian bourgeoisie in the post-reform period and testifying to the interest of Russian capital in the study and economic development of the outskirts of the empire. The research relies on the intellectual history approach, which involves the study of the mentality, the emergence and subsequent transformation of various ideas and cultural orientations inherent in a particular social stratum, in this case, the Russian merchant class. The travelogue provides valuable information characterizing the methods of work of its author, who already had extensive experience in the exploration and development of ore and oil fields in Siberia and the lower reaches of the Pechora, in collecting and recording primary information about minerals located in the region, local mining and manufacturing enterprises, his range of interests and, to some extent, ideological attitudes (in particular, adherence to the ideals of the Russian Orthodox Church). The surviving notes are, first of all, a brief fixation of what was seen, necessary for subsequent comprehension and generalization in the form of articles and reports, as well as formulations of practical recommendations on the prospects for further economic development of the territories that recently became part of the Russian Empire. In addition to information about the economic capacities of the region, M. K. Sidorov’s notes reflect the author’s impressions of visiting several local towns and villages, exploring natural and historical attractions, communicating with residents of different ethnicities. As a whole, the source under consideration expands the anthology of diaries and memoirs known to date that have arisen among the Russian peasantry, contains information about the economic and socio-cultural state of the Caucasus in the second half of the 19th century, emphasizes the interest and active participation of Russian business circles in the study and economic development of the region.