Factor Of Economic Growth Research Articles

SYSTEMIC FEATURES OF INNOVATION DEVELOPMENT IN THE USA

Due to the importance of innovations as a factor for economic growth and competitiveness, ensuring their sustainable development is a universal task for the country. The most intense race for innovation is observed among countries striving for global dominance. This article is dedicated to the study of the specific features of innovation development in the United States, where innovative potential has become one of the cornerstones of their economic strategy and a key driver of their success. The United States has significant distinctions from other countries in terms of culture, institutions, economic organizations, economic regulation, etc., which together create the basic conditions for innovation and require consideration. The focus on innovation development in the United States is driven by intensified competition with other global players, particularly from China.The main goal of the research is to summarize and characterize the systemic features of innovation development in the United States, as well as to identify the key factors intensifying innovation productivity in the country.The study of the systemic features of innovation development in the United States covered the analysis of 1) civilizational factors; 2) institutional system; 3) economic system; 4) innovation system; 5) state innovation policy. The main factors intensifying innovation productivity in the United States were identified as the combination of entrepreneurial and large-scale capitalism, venture capital investment, and territorial agglomerations of innovative structures. The need to consider the peculiarities of innovation generation in the military sector, universities, and non-profit organizations has been justified. The strength of the United States innovation system has been statistically demonstrated, however, the increasing competition in science and innovation from China has been confirmed. This has led to the intensification and change in the type of state innovation policy in the United States, with a focus on targeted support for innovation in industry in the context of the green transition.

PENERAPAN MODEL PROBLEM BASED LEARNING UNTUK MENINGKATKAN HASIL BELAJAR PESERTA DIDIK PADA MATERI PERTUMBUHAN DAN PEMBANGUNAN EKONOMI

This Classroom Action Research aims to evaluate the improvement of learning outcomes in the Economic Growth subject among students of grade XI-IPS at SMA Negeri 2 Toma through the implementation of Problem Based Learning. The research method employed is classroom action research, which involves a series of stages from planning, implementation, observation, reflection, recommendations, to the evaluation of students' learning outcomes. The research findings indicate that students' activities in implementing the stages of the Problem Based Learning model in the economics subject, particularly in understanding the Concepts and Factors of Economic Growth, experienced a significant improvement, reaching over 75%. This improvement is also reflected in the number of students who successfully achieved the Minimum Completeness Criteria (KKM), which increased by 25.16%. Additionally, the average learning outcomes of students increased from 69.89 in Cycle I to 80.89 in Cycle II. Furthermore, students' responses and attitudes towards the implementation of the Problem Based Learning model were highly positive, demonstrating the effectiveness of the model in enhancing the quality of learning.

Investigation of Causal Linkages Between Financial Development and Economic Growth: Evidence from Pakistan

Financial development is a driving factor for economic growth and is important in fostering growth. An efficient and effective financial system contributes to economic growth and fosters the performance of other economic measures. This study aims to investigate the influence of financial innovation on economic expansion to understand the correspondence between financial development and economic growth in Pakistan. Augmented Dickey-Fuller (ADF) and Phillips Perron (PP) are used for stationarity. Auto Regressive Distributed Lag (ARDL) and Error Correction Model are employed to analyze the correlation between economic growth and financial development. The finding shows that financial development stimulates economic growth. The research explains that foreign direct investment and personal remittances adversely affect GDP growth. These understandings recommend that although financial development generally promotes, its results can vary extensively and depend on specific context-dependent conditions. Furthermore, applying CUSUM AND CUSUM of square tests to measure model stability convincingly confirms a long-term relation between financial development and economic expansion, disproving the null hypothesis of no co-integration and reinforcing that financial development is essential to domestic economies. Policymakers need to practice these understandings in actionable plans by highlighting financial innovations that advance access to credit and efficiently allocate resources so investment in education and agriculture can maximize economic growth.

Trans-boundary spatio-temporal analysis of Sentinel 5P tropospheric nitrogen dioxide and total carbon monoxide columns over Punjab and Haryana Regions with COVID-19 lockdown impact.

This study conducts a spatio-temporal analysis of tropospheric nitrogen dioxide (NO2) and total carbon monoxide (CO) concentrations in the Punjab and Haryana regions of India and Pakistan, using datasets from the Sentinel 5-Precursor (S5P) satellite. These regions, marked by diverse economic growth factors including population expansion, power generation, transportation, and agricultural practices, face similar challenges in atmospheric pollution, particularly evident in major urban centers like Delhi and Lahore, identified as pollution hotspots. The study also spotlights pollution associated with power plants. In urban areas, tropospheric NO2 levels are predominantly elevated due to vehicular emissions, whereas residential activities mainly contribute to CO pollution. However, precisely attributing urban CO sources is complex due to its longer atmospheric residence time and intricate circulation patterns. Notably, the burning of rice crop residue in November significantly exacerbates winter pollution episodes and smog, showing a more pronounced correlation with total CO than with tropospheric NO2 levels. The temporal analysis indicates that the months from October to December witness peak pollution, contrasted with the relatively cleaner period during the monsoon months of July to September. The severe pollution in the OND quarter is attributed to factors such as variations in boundary layer height and depletion of OH radicals. Furthermore, the study highlights the positive impact of the COVID-19 lockdown on air quality, with a significant decrease in NO2 concentrations during April, 2020 (Delhi: 59%, Lahore: 58%). However, the reduction in total CO columns was less significant. The study also correlates lockdown stringency with tropospheric NO2 columns (R2: 0.37 for Delhi, 0.25 for Lahore, 0.22 for Rawalpindi/Islamabad), acknowledging the influence of various meteorological and atmospheric variables. The research highlights the significant impact of crop residue burning on winter pollution levels, particularly on total CO concentrations. The study also shows the notable effect of the COVID-19 lockdown on air quality, significantly reducing NO2 levels. Additionally, it explores the correlation between lockdown stringency and tropospheric NO2 columns, considering various meteorological factors.

The development of e-commerce as a factor stimulating economic growth

Relevance. Global trends in the transition to the principles of the digital economy and the introduction of e-commerce as a factor of economic growth are increasingly becoming the object of research by scientists. The economy is becoming even more digital, and the past COVID-19 pandemic has contributed to this acceleration.Purpose. The purpose of this study was to investigate the role of e-commerce and its essence in the economy digitalization, as a stimulating factor in the development of the country�s economy.Methodology. The main methods of fulfilling the purpose of this study included the methods of systematic and structural-logical analysis of data, analysis and synthesis, generalization, prognostic method.Results. The study strongly suggested that e-commerce has been developing at an accelerated pace all over the world in recent years. Both the announcement of the COVID-19 pandemic and the general trend towards the economy digitalization contributed to this. Global transformation processes continue and cover all spheres of life and production. The leaders are the countries of the world and, specifically, the countries of Europe. In Ukraine and Kazakhstan, programs for the economy digitalization of the countries have been developed, which are based on the principles �the state in a smartphone� and consider all elements of the structure of e-commerce.Conclusions. The most promising areas are the development of digital platforms, cloud services, electronic banking support, information protection, etc. The support of Industry 4.0 technologies will allow not only to protect the external environment, but to create jobs and reduce unemployment in the future. It is still important to support the state at all levels of implementation of programs for the economy digitalization. The results of the study can be used as a basis for formulating and adjusting strategies and programs for digitalization of the economies of different countries.

Features and factors of human capital formation in the agricultural sector of the economy

Human capital and the processes of its effective formation and development are key factors in economic growth, especially in the agricultural sector. Scientific interest in this topic is driven by the need to create conditions for the formation and improvement of the efficiency of human potential in this sector of the economy. Accordingly, the aim of the research was to conduct a theoretical analysis of the mechanisms of human capital formation and development in the agricultural sector, to define the main criteria and indicators for its assessment, to identify factors that contribute to or hinder the development of human potential, and to develop practical recommendations aimed at attracting human capital to this area of economic activity. The research was based on the scientific works of domestic and foreign researchers dedicated to the development of human capital, with special attention given to works that illuminate the socio-economic aspects in the agro-industry. This ensured a comprehensive and interdisciplinary approach to the study. The research utilized methods of synthesis, systematization, generalization, comparative analysis, and others. An important aspect of the research was determining the necessary conditions for attracting young people to the agricultural sector. In this context, particular importance is attached to the development of strategies that promote the integration and retention of young specialists, which can be a decisive factor in the long-term perspective for the sustainable development of the agricultural sector. As a result, specific recommendations were formulated (expanding educational programs, providing stimulating career opportunities, improving social infrastructure in rural areas) aimed at effectively improving the quality of human capital in the agricultural sector and promoting effective interaction among participants in the agricultural labor market. The proposed measures will contribute to the development of a more innovative, inclusive, and productive work environment in the agricultural sector, which is an important step towards achieving food independence for the country.

Innovation management in higher education as a factor of regional economic growth

Innovation activity in higher education serves as a catalyst for economic growth at the regional level. Modern economic realities require active introduction of scientific and technological achievements in the educational process, which inevitably affects regional economic development. The increasing contribution of higher education institutions to regional economy is due to a number of factors such as education quality improvement, research activities development, and scientific developments commercialization. The Education Development State Program data, examples of the world’s leading universities and reports on the research activities of Russian universities for 2015–2022 have been analyzed, and a multi-parametric assessment of innovative projects effectiveness in higher education carried out. The study included a comparative analysis of investments in scientific research and their impact on the regional gross domestic product, as well as the analysis of scientific developments commercialization cases. Between 2015 and 2022 the amount of funding for scientific research in leading Russian universities increased by 37 %, which was accompanied by an increase in the number of patents by 24 % and commercially successful projects by 18 %. The examples of St. Petersburg and Novosibirsk universities show an increase in direct investment in the regions by 15 and 20 %, respectively, due to scientific developments commercialization. The study also shows that the average growth of regional gross domestic product in regions with active innovation activity in universities amounted to 5.6 % per year.

Cultural and Creative Industries of Local Autonomy: Cultural Innovation and Cultural Upgrading

In order to explore the relationship between local autonomous cultural and creative industries and economic and cultural upgrading, this paper uses a questionnaire survey to conduct practical investigation and analysis, and discusses the relationship between the following aspects. Local self-government, The results show that local autonomous cultural creativity can promote economic growth and improve cultural level, and there is a certain correlation between economic growth and cultural upgrading, but the correlation is poor, indicating that the impact of economic growth on cultural upgrading is indirect, and cultural upgrading and economic growth are the main factors for the development of local autonomous cultural and creative industries. Local autonomy is the main influencing factor of economic growth and cultural upgrading, and it is also a combination factor for the development of cultural and creative industries. Therefore, strengthening local autonomy, promoting economic growth, and cultural upgrading can promote the development of cultural and creative industries.

Factors of sustainable economic growth in the context of risks and priorities of business development in the conditions of war.

The management of threats and risks of food security does not meet the needs of the sustainability of the development of the food system in the conditions of modern upheavals and stresses. The new geopolitical and economic conditions of the functioning of the sphere of food production and consumption require the formation of a new concept of economic security. Based on the assessment of modern threats and risks to the sustainable development of the food system, the authors developed a categorical apparatus and formed their own system of methodological principles for the study of the economic growth of the food system. The sustainable development of the agro-industrial complex is of particular importance for increasing competitiveness and ensuring the country's food security. In general, the sustainable development of the agro-industrial complex allows to create conditions for the transformation of companies' strategies in the field of ESG, to form stable supply chains, to create favorable conditions for the development of the connection between the city and agricultural territories, to satisfy the needs of the population and to improve the quality of life of the population. The research methodology, based on a systemic, complex, institutional approach, made it possible to determine the content of economic security as its ability to ensure the stability and competitiveness of all elements and the ability to resist external and internal threats, guaranteeing food security at the level determined by strategic national priorities. The purpose of the article is to define and substantiate the directions and priorities of sustainable growth and post-war development of the economy of Ukraine. Factors of sustainable development are proposed, taking into account external and internal risks and competitiveness priorities. The importance of finding innovative approaches to the management of subjects of economic relations in post-war conditions is proven. The problems and priorities of achieving sustainable functioning of the economy based on a closed cycle of production and achieving the goals of sustainable development are defined. Global political and economic changes lead to the fact that a company successful in the past pre-war conditions can become both an outsider and a leader of a new paradigm of sustainable economic systems. It is substantiated that the proposed methodological approach should be used as a basis for monitoring the economic security of the food system at the macro- and meso-level, as well as in the development of directions for improving the agro-food policy in new geopolitical and economic conditions. Keywords: economic security, growth, risks, food system, sustainable development, national interests, threats, ESG factors, innovation and investment activities

DEFINE THE ROLE AND ECONOMIC BENEFITS OF MICRO, SMALL AND MEDIUM ENTERPRISES: A LITERATURE REVIEW

The purpose of this paper is to shed more light on the potential small and medium enterprise sector. In the discussion, small business will be seen in a broader sense and focus not only on small and medium enterprises, but also on the small and medium enterprise sector. This research seeks to explain the potential benefits of this sector. The paper explains why to be a small enterprise and what the real impact of the small and medium enterprise sector can be on economic growth and development if supported by the right government and business environment. The small and medium enterprise sector is one of the important factors of economic growth. The small and medium enterprise sector has very different characteristics from large enterprises. However, what is less understood is why the economy actually needs so many small firms and why they are so important. This journal article summarises why this sector is considered strategic and what makes it so valuable for economic growth and development and can increase competitiveness in national and regional economies.

The Quality Infrastructure System in Mexico

This research is carried out due to the competitiveness difficulties that Mexico suffers due to its position in the Global Quality Infrastructure Index (GQII Global). Its objectives are to explain the scope of the quality concept, the integrating elements of the Quality Infrastructure System in Mexico, the connotation of the term innovation, economic growth factors, dynamic capabilities and strategic management as components of development, as well as the influence of marketing on quality management. To carry out this research, synthetic, analytical and dialectical methods had to be used fundamentally. Among the most significant results, it was found that export is a significant (not to say definitive or exclusive) reference in determining the degree of development of a country's quality infrastructure; the causes that inhibit the development of a Quality Infrastructure System were identified. From the interpretation and consequences of the findings of this research, the recognition of the advantages of the Quality Infrastructure System is concluded; the unveiling of the challenges that Mexico must overcome to obtain acceptable indicators in the Quality Infrastructure System Indices; the perception of the factors that generate Mexico's recent low indices in the Global GQII, and the encouraging future of Mexico in terms of Quality Infrastructure.

Scientific Conference and Scientific Publication on the Topic of the Factors of Economic Growth in Historical Perspective

Scientific Conference and Scientific Publication on the Topic of the Factors of Economic Growth in Historical Perspective

Increasing SMEs' Acquisitions on SMEs Export Platform using Five A's Concept

Export is one of the influential factors in national economic growth. Increasing exports and investment made by developing countries can boost output and economic growth. To bolster Indonesia’s export performance Bank Negara Indonesia currently working on the development of a new business model called Xpora, which specifically targets business actors in the export sector within the Micro, Small, and Medium Enterprises segments with a primary focus on empowering and facilitating them. Looking at the acquisition side, it is recorded that BNI has 27,321 numbers of export debtor accounts. There were only around 4,000 account that took part in the Xpora incubation program and those who managed to receive financing were 195 debtors or around 0.7% of the total export account. That indicates Xpora Acquisition strategy didn’t work well. Research was conducted using quantitative methods through survey media using the Five A’s concept to measure the awareness level of SMEs about Xpora. The results show several low touch points in the Five’s components that include ‘Ask’, ‘Appeal’, Aware representing Lack of supporting facility and change in consumer behaviour related to information seeking, lack of digital activation and unappealing promotion content, unmatched between service provided and customer needs, lack of awareness of new brand proposition.

The effects of Foreign Investment shocks on the US economic growth and risk factors

ABSTRACT We examine the effects of shocks to Total Foreign Investment (TFI) and its components, Foreign Portfolio Investment (FPI), Foreign Direct Investment (FDI), and Bank Credit (BC) on the US economic growth and risk factors by estimating a series of Dynamic Factor Models. We extract comovements from 31 indicators to capture composite indices of output, monetary, and credit risk conditions that measure the US market conditions. We find that positive shocks to TFI, FPI, and FDI increase the real economic activity and lower the aggregate risks in the US. We also find that a shock to FPI results in the largest impacts on output and risk factors as well as their associated indicators, followed by shocks to TFI and FDI, respectively. Furthermore, we find that FPI shocks contribute the most to the historical fluctuations of output, monetary, and risk indicators.

Does financial inclusion enhance per capita income in the least developed countries?

Financial inclusion is a key factor for economic growth in most developing countries. This paper examines the relationship between financial inclusion and Gross Domestic Product (GDP) per capita in the Least Developed Countries (LDCs) using panel data for the period 1990–2021. The empirical evidence suggests that financial inclusion is indeed related to economic growth in the LDCs. We consider different dimensions of financial inclusion: usability (% of bank credit to bank deposits), accessibility (commercial bank branches), concentration (% of concentration of banks), and availability (depositors with commercial banks) to determine which has a greater effect on economic growth in the countries analyzed. Therefore, we assess which dimensions of financial inclusion are a better tool to improve the economic situation in the poorest countries in the world. While we conclude that all dimensions of financial inclusion have a positive effect on economic growth, in the expected direction, we find that not all dimensions affect economic growth similarly. The dimensions ‘accessibility’ and ‘concentration’ are robustly associated with economic growth, while ‘usability’ and ‘availability’ produce a significant but relatively lesser effect in the LDCs.

R&D Expenditures-Innovation Relationship: Panel Data Analysis for Selected Countries

In the study, the concept of innovation, which is an important phenomenon in the process of economic growth and development, has been analyzed. This study aims to reveal the relationship between innovation, which is an important factor in economic development and growth, and research and development expenditures. In the study, an econometric model was established in order to determine the effect of research and development expenditures on innovation. In this model, the number of domestic patent applications was taken to represent innovation as the dependent variable. As independent variables; R&D expenditures and gross capital data were used. Panel data analysis was conducted for the sample of 35 countries, covering the period 2000-2019. The country sample was formed from among the top 49 countries whose data is available in the 2022 global innovation index ranking.
 In the analysis, it has been concluded that R&D expenditures have a significant positive effect on innovation. The gross capital variable, on the other hand, negatively affects the patent variable, which represents innovation. In the study, it was concluded that R&D expenditures have a significant positive effect on innovation. In order to increase innovation, countries should first allocate more resources to research and development activities.

Model Multivariate Adaptive Regression Spline (MARS) Pada Persamaan Regresi Nonparametrik

Economic growth is one of the benchmarks for the success of development or increasing welfare in the government of a region in the economic sector as measured by the Gross Regional Domestic Product (GRDP). It has time series data that often fluctuates so that the appropriate method is nonparametric regression. This study also aims to determine the most influential factors for economic growth in North Sumatra in 2019-2021 using the MARS model, using secondary data published by BPS for 2019-2021. The MARS model is obtained by obtaining a combination of BF, MI, and MO values that have a minimum Generalized Cross Validation (GCV) value. The results of this study indicate that the best MARS model is a combination of BF=28, MI=1, and MO=1 with a GCV value of 8.42E+06. Therefore there are five of the seven variables that have a significant effect on economic growth in North Sumatra, namely population (X_7 ) with an interest rate of 100%, domestic investment (X_5) of 76.86%, local revenue (X_1) of 31.14%, allocated funds special (X_3) of 28.89%, general allocation funds (X_2) of 23.14%.

Экономический рост в России: структура, инвестиции и «экономика знаний»

Subject/topic. The study is devoted to a structural analysis of the growth of the Russian economy by components of GDP and the structure of investments – financial and non-financial. The article presents the results of an assessment of the structural model of growth of the Russian economy in the period from 2003 to 2023. The purpose of the study is to identify the structural characteristics of Russia’s economic growth according to the basic parameter – the country’s gross domestic product, which differ for different time intervals, and have specificity relative to 2022 and 2023, when external conditions and factors of economic growth have changed dramatically. The methodology is based on the theory of economic growth and macroeconomic policy, structural analysis. The information base of the study is formed by statistical data from Rosstat. Their use makes it possible to identify the features of economic growth in Russia, highlighting its structural composition according to the dynamics of GDP components by expenditure and basic sectors: raw materials, manufacturing and transaction, which together give the total value of GDP. In addition, an assessment is made of the structure of «financial-non-financial» investments and their impact on economic growth, taking into account the institutional shift of the financial market, as well as the connection between the «knowledge economy» and growth. The result of the study is the identified inhibitory role of financial investments in the implementation of the policy of lowering interest rates, as well as the low level of determination of the «knowledge economy» by expenses on scientific research and development, which for the Russian economic system creates further problems with providing technological growth factors in the field of achieving technological sovereignty. Conclusions/significance The conducted structural analysis of the growth of the Russian economy shows the absence of significant changes in the structural dynamics of GDP in 2022-2023, confirming the value of its own application of such analysis in justifying macroeconomic and structural policy measures in Russia, as well as the intensification of efforts in the field of growth policy. The prospect of the study comes down to modeling the influence of external and internal growth factors on its structural parameters and, on this basis, to justify measures of structural and general macroeconomic policy of economic changes that ensure the growth of Russia's GDP.

История развития цифровой экономики

In the context of globalization and increased competition, digitalization is the most important factor in economic growth. The emerging digital economy is an inevitable trend, which is determined by a new round of technological and industrial revolutions. Its development is one of the strategic priorities of the national policy of the Russian Federation for the coming decades. The development of the digital economy in the Russian Federation is hampered by the presence of economic and organizational problems. The experience of developed countries shows that the success of digitalization in Russia largely depends on the creation of a good institutional environment for the generation and implementation of digital innovations. The state plays an important role in regulating issues of digitalization of the economic and social spheres.

Механізм державної політики сталого розвитку підприємництва в Україні

The aim of the article is to develop a model of the mechanism of the State policy of sustainable development of entrepreneurship in Ukraine, which can become a key factor in economic growth, improving the standard of living of the population, creating new jobs and strengthening democracy. The mechanism is based on the following principles: inclusiveness (ensuring equal access to opportunities for all entrepreneurial entities, regardless of their size, industry, location and other factors); fairness (creation of transparent and fair business rules that do not discriminate against any group of entrepreneurs); accountability (ensuring that the authorities are clearly accountable to entrepreneurs for their actions and decisions) and resilience (development and implementation of entrepreneurship support policies that take into account long-term economic prospects and social consequences). The mechanism also uses the instruments of the State policy of sustainable development of entrepreneurship: regulation – the activity of the State aimed at establishing rules and norms that entrepreneurs must comply with (licensing, antimonopoly laws, product safety standards, etc.); support – State activities aimed at providing assistance and incentives for the development of entrepreneurship (financial assistance, tax benefits, consulting services, education, training, etc.); provision is a set of measures aimed at creating a favorable environment for doing business (bureaucracy reforms, the fight against corruption, infrastructure development, intellectual property protection, etc.). The instruments for ensuring entrepreneurship are summarized in more detail: protection of property rights (legislative, institutional, informational, and practical support); fight against corruption (introduction of anti-corruption standards, improvement of anti-corruption bodies, protection of whistleblowers and increasing transparency); ensuring the rule of law (independence of the judiciary, access to justice, rule of law over the administrative apparatus, counteracting political interference in the judiciary); protection of competition (introduction of antimonopoly legislation, creation of antimonopoly bodies and application of antimonopolistic sanctions); development of infrastructure (transport, energy, information, etc.); protection of data and the environment (improvement of legislation on data protection and the environment, creation of separate data protection and environmental authorities, raising awareness of data protection, stimulating environmentally friendly and information friendly business). We believe that thanks to the joint efforts of the State, business and the public, Ukraine will be able to successfully implement the mechanism of the State policy of sustainable development of entrepreneurship and build a sustainable and prosperous future for its citizens. Investments in sustainable development of entrepreneurship are investments in the future of Ukraine.