Economic Growth In India Research Articles

Empirical Exploration of Economic Policy in the Middle East and North Africa (MENA) Region: An ARDL Approach

This article delves into the analysis of the effectiveness of economic policies implemented in 20 countries in the Middle East and North Africa (MENA) region. The countries considered include Algeria, Saudi Arabia, the Palestinian Authority, Bahrain, Djibouti, the United Arab Emirates, Egypt, Iraq, Iran, Jordan, Kuwait, Lebanon, Libya, Morocco, Mauritania, Oman, Qatar, Syria, Tunisia, and Yemen. The study is based on an Autoregressive Distributed Lag (ARDL) regression model, employing the Ordinary Least Squares (OLS) method. This model is suitable for non-stationary time series and those with a mixed order of integration. The analysis covers the period from 2000 to 2023.The results obtained highlight the diversity of the impacts of economic policies, strongly influenced by the specific economic and social contexts of each country. Governments, in their pursuit of efficiency and sustainability, are often faced with the delicate balance between multiple objectives. Among the measures considered are the money supply, inflation rate, government spending, and structural reforms. These measures have demonstrated their effectiveness in stimulating economic growth, promoting economic activity, encouraging investment, and creating employment opportunities. Monetary and fiscal policies are also crucial levers aimed at maintaining macroeconomic stability. This is expressed notably through controlling inflation, managing budget deficits, and ensuring the stability of the financial system. The results of econometric tests converge towards unanimous conclusions, suggesting the existence of one-directional causal relationships between economic growth and specific indicators of economic policy. This in-depth understanding of regional economic dynamics provides valuable insights for tailoring economic policies to each national context within the MENA region.

INSTITUTIONAL ASPECTS OF HIGHER EDUCATION QUALITY ASSURANCE: A SOCIO-ECONOMIC VIEW

Institutional aspects of higher education quality assurance have been considered. The controversial aspects of the integration of the Kazakh higher education system into a single educational space have been studied. The factors hindering the innovative development of higher education have been analyzed. The features of the National Education Quality Assessment System, including procedures for input, intermediate and output control, have been considered. The expanding mass character of higher education and its accessibility exacerbate the problem of quality assurance as the most important competitive advantage of a university. Recommendations have been given for developing the culture of quality education, improving the National Qualifications System, increasing the effectiveness of the universityemployer social partnership in the development of practice-oriented programs in the format of a competency-based approach. The need to increase budget funding for higher education and to improve the social status of university teachers has been emphasized, which will have a positive impact on the growth of economic indicators.

GDP nowcasting: A machine learning and remote sensing data-based approach for Bolivia

This research introduces an innovative GDP nowcasting strategy tailored for developing countries, specifically addressing challenges related to limited data timeliness. The study centers on Bolivia, where the official monthly indicator of economic growth is released with a substantial delay of up to six months. The proposed nowcast estimates effectively narrow this gap from six to two months. This advancement is achieved through the integration of machine learning techniques with data comprising indicators from traditional sources and statistics derived from satellite imagery. The robustness of this approach is rigorously validated using various criteria, including performance comparisons with conventional econometric methods and sensitivity assessments to different feature sets. Beyond enhancing the understanding of Bolivia’s economic dynamics, this research establishes a framework for analogous analyses in regions grappling with information availability challenges.

The Influence of Regional Original Income and General Allocation Funds on Economic Growth with Capital Expenditures as an Intervening Variable

Purpose: The purpose of this research is to explore the relationship between financial sources, public services, and economic growth at the local government level. Specifically, the study aims to investigate how Regional Original Income and General Allocation Fund allocations impact capital expenditure and subsequently influence economic growth. By examining these relationships, the research seeks to provide insights into the effectiveness of financial management strategies employed by local governments in promoting economic development and improving public services. Methods: This study utilizes data from all districts/cities of Bali Province for the period 2015-2020, comprising Regional Original Income, General Allocation Fund, Capital Expenditure, and Economic Growth indicators, totaling 54 data points. A saturated sampling approach, also known as total sampling, is employed to ensure comprehensive coverage of the dataset. The analysis technique involves Structural Equation Modeling (SEM) using the SmartPls 3.2.8 program, allowing for the examination of complex relationships between variables and the assessment of their direct and indirect effects. Results and discussion: The findings of this study reveal several key insights: 1) Regional Original Income positively and significantly influences capital expenditure, indicating that higher revenue generated within regions contributes to increased investment in infrastructure and development projects; 2) General Allocation Fund demonstrates a positive but insignificant effect on capital expenditure, suggesting that while these funds are allocated for public services, they may not directly translate into capital investments; 3) Regional Original Income and General Allocation Fund show negative and insignificant effects on economic growth, implying that other factors may have a stronger influence on overall economic performance; and 4) Capital expenditure exhibits a positive but insignificant effect on economic growth, suggesting that while investment in infrastructure may contribute to economic development, other factors play a more significant role. Implications of the research: The findings of this research have implications for local government policymakers and stakeholders involved in financial management and economic development planning. By understanding the relationships between financial sources, capital expenditure, and economic growth, policymakers can devise more effective strategies for resource allocation and investment prioritization. Additionally, the study highlights the need for comprehensive approaches that consider various factors influencing economic growth beyond financial inputs alone, such as regulatory environments, market conditions, and governance structures. Originality/value: This research contributes to the literature by providing empirical evidence on the relationship between financial sources, public services, and economic growth at the local government level, particularly within the context of Bali Province. By employing Structural Equation Modeling and analyzing a comprehensive dataset, the study offers insights into the nuanced dynamics of financial management and its implications for economic development. Furthermore, the findings underscore the importance of considering multiple factors in the formulation of local government policies aimed at fostering sustainable economic growth and improving public services. Overall, this research adds value to the understanding of local government finance and its role in driving regional development agendas.

A Study on Significant Challenges and Future Opportunities of Small Scale Firms towards Indian Economic Growth

Small scale firm are the limited scope enterprises and crucial to the advancement of a country. It represents over 40% of the gross modern worth added of the Indian economy. Because of its low capital force and high work retention, the SSI area has contributed altogether to work age and provincial industrialization. With the changing monetary climate, SSIs need to manage various difficulties like huge populace, far reaching joblessness and underemployment, and absence of capital assets, among others. Accordingly, the public authority has given specific explicit offices through different arrangements and projects to tackle the issues and support the development and advancement of little organizations. The business has been very energetic and dynamic throughout recent many years. It has come to the front in the financial development of the country. This area frequently had positive development patterns, in any event, when different areas of the economy experienced either negative or ostensible development. It is notable that a flourishing limited scope area is the way to monetary development in a nation like India. Tragically, SSI is confronting various issues that have made it uncompetitive and debilitated. In this specific circumstance, this study attempts to feature the significance of SSI in Indian economy, SSI strategy and hardships of SSI in Indian economy The Small Sale firms include encounters in solidification managerial proficiency and creation of cognizance on economic values of technologies. This paper incriminates the significant challenges and future opportunities of small scale firm. An attempt is made in this paper to focus on the development of Indian economic growth. Key words: Small Scale firm, Growth on SME, Indian Economy, Sustainable development

Opportunities and Challenges: Adopting “Blue-Green Economy” Terms to Achieve SDGs

Sustainable development and the blue-green economy are intimately linked and collaborate. Like other nations, Indonesia follows Blue-Green economic principles to reach the Sustainable Development Goals (SDGs). This study intends to investigate Indonesia's capacity and challenges in achieving the Sustainable Development Goals (SDGs) through implementing the Blue-Green economic concept and suggest solutions to address these barriers. Indonesia has adopted a substantial approach to attain sustainable development objectives by implementing a blue-green economic policy. This is primarily due to the country's status as a growing archipelago with a heightened susceptibility to natural disasters that affect all facets of society, the economy, and advancement. Indonesia is crucial in the global geopolitical scene because of its plentiful, untapped maritime resources. Implementing the Blue Economy in Indonesia offers a great chance to accomplish the 17 Sustainable Development Goals. Prior studies focused solely on the blue or green economy and strategies for attaining sustainable development goals in Indonesia. This research is innovative as it integrates the blue-green economic idea. The study discovered that obstacles can be surmounted by implementing solutions to address legislative, governance, legal, and economic challenges. Efficiently developing the public sector is crucial. This involves applying technology advancements, managing information effectively, coordinating with stakeholders, seeking international collaborations, and adopting global best practices. It aims to determine how sustainable development indicators, specifically in Indonesia, impact economic growth indicators such as gross domestic product. Time series analysis is utilized to depict the relationship between variables. The ARDL model research shows a long-term equilibrium relationship between different measures of sustainable development and economic growth in Indonesia. Indicators of sustainable development have been seen to influence economic growth in Iraq. The analysis demonstrates that sustainable development has fueled economic growth in Indonesia from 2014 to 2024.

The growth contribution of colonial Indian railways in comparative perspective

AbstractRailways were an important driver of global economic growth in the nineteenth and early twentieth centuries. Whilst their role is well documented in industrial economies, we know less about their macro‐economic impact in developing countries. In this paper, we first estimate the aggregate growth impact of Indian railways, one of the largest networks in the world in the early twentieth century. Then, we compare their impact in India to four emerging Latin American economies (Argentina, Brazil, Mexico, and Uruguay) and the Cape colony. Using growth accounting techniques common to the cross‐country estimates, we argue that the aggregate growth impact of Indian railways was significant, increasing Indian gross domestic product (GDP) per capita by 13.5 per cent by 1912. We also find that the growth impact of Indian railways was similar to Brazil and Mexico, but smaller than Argentina and the Cape. Compared with the latter, India had a smaller size of railway freight revenues in the economy and lower wages to fares leading to lower passenger time savings. Railways were the most important infrastructure driver of economic growth in India during the first era of globalization from 1860 to 1912, but they contributed less than in richer and more dynamic developing economies.

The Moderating Effect of Ideological Identification on How Economic News and Economic Growth Impact Individual Economic Perceptions: Evidence From Chile

Previous literature argues that macroeconomic conditions and economic news impact socio-tropic assessments. Others find that ideological identification or ideological affinity with the government impact socio-tropic economic views. Here, we test the moderating effect of ideological identification on how economic growth and economic news shape economic perceptions. We test this hypothesis using a dataset that combines monthly polls in Chile (2014–2018), economic news, and economic growth indicators. We find that ideological affinity with the government intensifies the positive impact of good macroeconomic indicators on current and prospective perceptions and, surprisingly, induces more positive current perceptions when negative economic news increases. In turn, ideological affinity with the government is associated with a slightly negative impact of good macroeconomic indicators on current (but not prospective) economic perceptions and a negative impact of negative economic news on current and prospective perceptions. Ideology moderates the effect of macroeconomic indicators and economic news on economic perceptions.

Freebie Debates and Budgetary Priorities: Economic Growth-led India or Inclusive India

This article discusses the current debate in India centred on freebie schemes and budgetary priorities. Both are being shaped by India’s political economy within and by globalisation forces outside. Targeting high growth rates and making economies competitively fit are driving this globalization forces. Should budgets prioritise growth or distribution? The Bhagwati–Sen debate provides us insights into the pros and cons of this apparent choice. Economic growth in India has been reasonably good, but not enough employment has been created. The decline in poverty rate has been slower, and in absolute numbers, a staggering number are still poor. India, an erstwhile colonised nation-state, is currently focusing on an infrastructure-led growth budget. The current governing elites assume that growth will take place and benefits eventually will trickle down. It rests its hopes largely on the middle class for high growth rates. The counter-elite voice demands more budgetary allocation for the Indian labouring poor, largely rural. This allocation will widen the participatory base of the economy. The two viewpoints presented here represent two perspectives: an economic growth-led India and an inclusive India. This debate has significant implications for re/distributive policies and programmes and human development.

ANALISIS PERTUMBUHAN EKONOMI PROVINSI BALI DI MASA PANDEMI COVID-19 PADA SEKTOR PARIWISATA

The success of the development of a region can be measured through indicators of economic growth which have increased showing that regional development is evenly distributed so that it touches all levels of society. This study aims to analyze the effect of the number of hotel rooms, employment, and the number of tourist visits on the economic growth of the Bali Province in the tourism sector. This study uses panel data, which is a combination of time series data and cross sections (9 regencies/cities in Bali Province) with a total of 45 observations. The data source used in this research is a secondary data source. The analysis technique used in this research is panel data analysis technique. The results of this study indicate that the simultaneous and partial influence of the number of hotel rooms, employment, and the number of tourist visits has had on the economic growth of the Province of Bali during the Covid-19 pandemic in the tourism sector. Partially, the number of hotel rooms has an effect, employment has an effect and the number of tourist visits has no effect on the economic growth of the Province of Bali during the Covid-19 pandemic in the tourism sector.
 keyword: Number Of Hotel Rooms, Employment, Number Of Tourist Visit.
 Klasifikasi JEL: L85, E24, L83

Regional Analysis for Sustainable Economic Development: A Case Study of Sukamara Regency, Kalimantan Tengah, Indonesia

Economic growth remains the sole determining factor that shapes regional development in Sukamara Regency, Kalimantan Tengah, Indonesia. Therefore, in designing and formulating its regional planning, it is imperative that the leading economic sector(s) be specifically studied and prioritized. Using quantitative data and regional analysis, this research aimed to identify the leading sector(s) to formulate recommendations for the regency’s development planning using geographic information systems and three economic growth indicators: location quotient (LQ), multiplier effect (ME), and shift-share (SS). Results indicate that Forestry, Agriculture, and Fisheries is the primary leading sector, followed by Manufacturing, which are both fuelled by the palm oil industry. The prevailing industrial sector causes economic disparities between northern and southern Sukamara. For further regional development, disparities between regions and sustainability issues must be addressed using a nature-based approach and socially inclusive measures by promoting and fostering small and medium enterprises, especially in southern Sukamara. Shifting the economy from extractive sectors (primary) to trade and tourism (secondary and tertiary) is also recommended to ensure the sustainabality of the development.

Analyzing India's coal, natural gas, and biomass energy consumption: Evidence from a Fourier technique to promote sustainable development

AbstractInalignment with the United Nations Sustainable Development Goals (UN‐SDGs),which pinpoint vital aspects such as SDG‐7 and SDG‐8, this study delves intothe impact of biomass energy on economic growth in the Indian context. It alsoconsiders the roles of fossil fuels, specifically natural gas and coal. Toaccomplish this, a comprehensive analysis is initiated, making use of annualdata spanning from 1975 to 2022. A unique Fourier ARDL test serves as a centralanalytical tool alongside the Fourier Toda Yamamoto test. The empirical resultsunveil the presence of co‐integration among the variables scrutinized. Moreover,it becomes evident that coal and biomass make positive contributions toeconomic growth, whereas natural gas appears to exert a negative influence oneconomic growth. To validate these findings, a Fourier‐based Toda‐Yamamoto testis applied, demonstrating that natural gas, coal, and biomass possesspredictive capabilities concerning economic growth. These discoveries carrysubstantial implications for comprehending the factors influencing economicgrowth in India.

Investigating the environmental Kuznets curve modified with HDI: evidence from a panel of eco-innovative countries

AbstractConsidering the increase in polluting emissions, the importance of determining the relationship between economic development and environmental quality is a crucial issue in achieving sustainable development goals. This study explores and empirically tests the validity of the Environmental Kuznets Curve (EKC) hypothesis in a panel data of 39 countries is assembled over the period 1993–2018. For this purpose, the Human Development Index is used as a measure of development, contrary to classical studies in which GDP growth was determined as an indicator of economic growth. Also using by two different measures of pollutant emissions, such as methane ($${{\text{CH}}}_{4}$$ CH 4 ) and carbon ($${{\text{CO}}}_{2}$$ CO 2 ) emissions, examining to the validity of the EKC hypothesis. The analysis method consists of the fixed effect and robustness estimation of the panel data model, and employed the U-test approach in the study. Empirical findings in this study show that strong evidence to support an inverted U-shaped relationship between CO2 emissions and human development, although the U-test results point at mixed results for CH4 emissions. In addition, it is detected that negative relationship between environmental related technological innovation and pollutants emission such as $${{\text{CH}}}_{4}$$ CH 4 and $${{\text{CO}}}_{2}$$ CO 2 , which highlights the importance of promoting innovative technologies in struggle global warming.

The Effect of Research and Development on Economic Growth in Ethiopia: The Untapped Potential for Prosperity

This research measured the links between R&D and economic growth in Ethiopia employing multiple regression models. Citable journal articles, patents, technology exports, and research expenditures are the four predictor variables that are the focus of the study. GDP per capita growth is the outcome variable of the study, which serves as a proxy indicator for economic growth. The study used a panel dataset with data from a sample of 21 years between 2001 and 2021. The results show a significant link between growth of GDP per capita and citable journal articles, patents, and technology exports, demonstrating that these factors are essential for fostering economic growth. However, government expenditure on research and development has no discernible impact on economic growth, which accordingly, raises the possibility that raising research spending by itself may not be sufficient to boost the economy. These findings have tremendous policy implications because they emphasize the importance of concentrating on particular R&D initiatives that have a direct impact on economic growth. The study adds to the existing frontiers of knowledge inline with the connection between R&D and economic growth by demonstrating the value of citation-worthy journals, patents, and technology exports in fostering economic growth.

##Empowerment of BTPN Syariah ## Empowerment of BTPN Syariah customers in the development of Micro, Small and Medium Enterprises in Bogor Regency during the Industry 4.0 era

This research aims to develop the business of BTPN Syariah customers in Bogor district, West Java and to take part in the operation of Small, Micro and Medium Enterprises (MSMEs) in the industrial era 4.0. through a theoretical study approach. This study elaborates several findings from previous researchers as a reference and explores the grounded theory of BTPN Syariah customer development. A qualitative research method with a literature study is carried out to obtain a research reference model in explaining the factors that influence the performance of BTPN Syariah customers in developing their business, capital and strategy. This study also provides suggestions for the development of factors in performance measurement, and variables that affect the performance of MSME entrepreneurs. The results of the study provide recommendations that work skills, digital literacy and economic literacy as a reference in developing MSMEs in the Industrial 4.0 era. MSME training by Bestee friends from BTPN Syariah is a mandatory and routine program to improve customer welfare because it is a successful work program and an indicator of economic growth. But there are very few performance evaluation programs and ongoing development.

The Efficiency of Economic Growth for Sustainable Development—A Grey System Theory Approach in the Eurozone and Other European Countries

This article builds upon the authors’ previous work on the Synthetic Efficiency Indicator for Economic Growth (SEI-EG), demonstrating the process of transforming economic-growth-related inputs into sustainable development outcomes. This innovative application of the SEI-EG provides a fresh perspective on the effects of eurozone membership on the sustainability efficiency of EU countries, thereby enriching the discourse on economic integration and sustainability efforts within the European Union. By integrating the economic dynamics of the euro area with environmental efficiency metrics, this study offers novel insights into the potential influence of currency union membership on achieving sustainable development goals. Covering the entire European Union, categorized by euro area and non-euro area membership, this study navigates through the risks to sustainability posed by global crises and the ongoing debate over the euro’s integration success and setbacks. Conducted from 2019 to 2021 using grey system theory, this research incorporates a revised set of seven indicators in the domain of industry, innovation, and infrastructure as recommended by the Europe 2020 project. The findings confirm the initial hypothesis that countries outside the euro area tend to exhibit higher efficiency as measured by the SEI-EG indicator. This article is composed of five parts. The first two parts present characteristic features of economies in the euro area and non-euro area, along with a critical trend in the latest literature on the benefits and risks of economic integration. The subsequent sections introduce the methodology for determining the indicator and the authors’ own corrections to it as well as the results of the research and a discussion.

Impact of Public Expenditure on Education in Chhattisgarh

This paper objective to investigate the correlation between public spending on education and the growth of the state of Chhattisgarh. Time-series data spanning from 2000 to 2021 was utilised. Public expenditure has several effects in economy. It can increase economic growth. It can increase social welfare. It is directly expected education is helps Positive Social change of citizen. The result shows that total public expenditure and Education expenditure is highly and statistically significant on economic growth indicator such as GER and DOR in primary level in Chhattisgarh.Public expenditure helps in achieving equitable distribution income and promote growth and welfare. The findings indicate that total public spending and education spending have a statistically significant and positive impact on economic growth indicators like the state's Gross Enrollment Ratio (GER) and the percentage of primary school dropout children (DOR) at the primary level. Education is directly expected to contribute to citizens' positive social transformation. The study's findings show that public spending on education and economic growth are correlated over the long term. Over time, there is a found unidirectional causal relationship between public education spending and Gross State Domestic Product (GSDP).

The Moderating Role Of Economic Growth In The Association Between Corruption And Poverty In Indonesia

Indonesia has abundant natural and human resources. With a large population and abundant natural resources, Indonesia has the potential to become the centre of the world economy. But in reality, Indonesia faces many challenges. With such abundant wealth, corruption, economic growth, and poverty are the biggest problems in Indonesia. Corruption is closely related to the economic condition of society. This study aims to analyse the impact of corruption on the poverty rate in Indonesia. Using secondary data published by the Central Bureau of Statistics (BPS) from 2018 to 2022, a panel data regression model in 34 provinces in Indonesia was used to obtain 170 data samples. The researcher found that the Corruption Perception Index (CPI), which is considered an indicator of the level of corruption in Indonesia, has a negative and significant impact on the poverty rate. On the other hand, GR as an indicator of economic growth in Indonesia has a negative and significant impact on Indonesia's economic growth. In this study, economic growth is able to moderate the interaction relationship between corruption and poverty levels in Indonesia. Although Indonesia in the 2018-2022 timeframe has always experienced growth, this is also in line with the higher level of corruption in Indonesia, which has an impact on the high disparity and poverty in Indonesia. Therefore, the government and society must work together to fight corruption and reduce poverty by improving transparency and increasing public participation in order to reduce inequality and poverty among Indonesians.

The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses

The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses

Does foreign direct investment cause economic growth in India? An econometric analysis

With the lack of finance, many developing nations are struggling for investment in several areas to generate an opportunity for sustainable livelihood, and Foreign Direct Investment (FDI) emerged as an engine of economic growth, especially in developing nations. It helps to strengthen the economy by mainly promoting capital inflow and technical improvement into the recipient economies. However, some literatures found economic growth, responsible for the inflow of FDI. Therefore, this paper attempts to examine the causal relationship between FDI and Economic Growth in India. By running the Granger causality test in VECM settings, this study found, GDP causes inflow of FDI in India.