Path Of Economic Growth Research Articles

Determine the optimal location for the industrial facility

In the economies of countries, regardless of their political systems, industry is a major axis intheir economic growth paths. These requirements are closely related to the technical and technical aspectof the production process, as they are also related to the spatial space in which this industry is held, inparticular the choice of the site for its production activity. As this choice has an impact on the cost of theproduct, especially the costs of transferring inputs and outputs of the production process, otherwise, theimproper choice leads to higher unit cost of the product for the consumer and affect the volume ofproduction and consumption together, and the consequent economic effects with social implications onIndividual and society. In this research, the optimal location of the industrial facility was determined whenwe have two sources of raw materials between them and the market and according to the Walter Izerdhypothesis using the CAD program to represent the graphs necessary to determine the optimal location ofthe industrial facility. This topic was addressed to its consequent life because the selection of the appropriatesite for industrial ransom must be appropriate in terms of economic feasibility, as well as these sites musttake into account their side effects on environmental pollution and develop appropriate solutions and howto get rid of these pollutants Production processes.

COVID-19 Bağlamında Temel Üreme, Anne, Yenidoğan, Çocuk, Ergen Sağlığı ve Beslenme Hizmetlerinin Sürdürülmesine İlişkin Etki Değerlendirmesi: Kuzey-Orta Nijerya'dan İçgörü

Objective: In the context of COVID-19 in North Central Nigeria, a qualitative interview study was conducted to assess the impact on the maintenance of essential sexual, reproductive, maternal newborn, child, adolescent healthy plus nutrition serves (RMNCAH+N). 
 Methods: This proposition aligns with the global crusade of the United Nations Sustainable development goals (UNSDGs 2.3.8) that highlights good nutrition (zero hunger) access to quality healthy and sustainable economic growth path. To this end, a field survey design was done qualitatively. Key informant interviews (KIIs) and focus group discussions (FGDs) were used in the qualitative analysis, which was based on typical interview schedules. During the study period, a total of 258 people from six different communities participated in the KII and FGD interviews. 
 Results: Key study findings outline eight major master essential concepts, such as healthcare workers reporting a variety of tough emotions and psychological issues. These included insufficient medical equipment’s, dissatisfaction with members of the public who did not observe social distancing norms, concerns about protecting their loved ones from infection, increased workload, and changing working conditions, insufficient personal protective equipment kits (PPE), and a sense that their frontline work was being undermined. 
 Conclusion: There was also a significant increase in gender-based violence. Further policy suggestions are outlined in the concluding section.

The Conundrum of Stock Market Performance and Gross Domestic Product: An Empirical Evidence from Kenya

The main objective of this study was to establish is the difficult question among researchers on the direction of relationship between the stock market performance and the gross domestic product using an empirical evidence from Kenya. Both theoretical and empirical reviews have presented a puzzle especially in the long run relationship between the two variables and empirical investigations in various country contexts , time varying longitudinal periods and other settings have continued to provide conflicting results. The study employed quarterly statistics of the Nairobi All Share Index (NASI) obtained from the Capital Markets Authority Bulletins and quarterly Gross Domestic Product rates from 2012-2019 obtained from Kenya National Bureau of Statistics and applied the Engle granger causality test and establish the link between stock market performance and economic growth in the long run (i.e. whether stock market performance causes economic growth or itself is a consequence of increased economic activity). The statistical techniques used included the unit root Augmented Dickey Fuller (ADF) test in order to test the stationarity for all the time series in their levels and first differences. The Johansen co-integration test to investigate whether the variables are cointegrated of the same order taking into account the trace statistics and the maximum eigen-value tests. The data was transformed into natural logarithms and normalized for further analysis. Both GDP and NASI were found to be stationery at level and upon first difference after ADF tests. The findings were that there was none directional/No causal relationship between the two variables after conducting a pairwise granger causality test, however there was a significant cointergrating equation on the variables, signifying the long run relationship between the two variables. From the results, it was inferred that the movement of stock prices in the Nairobi stock exchange reflect the macroeconomic condition in the long run of the country and can therefore be used to predict the future path of economic growth however the puzzle continues on causality.

The nonlinear impact of electricity consumption on economic growth: Evidence from Thailand

Since the structural change has generally occurred along the economic growth path, the nonlinear impact of non-renewable and renewable electricity consumption on the economic development of Thailand is concerned in this study. To deal with this structural change, the Markov Switching Autoregressive Distributed Lag (MS-ARDL) is adopted to characterize the regime-switching change for both electricity consumption on economic development in both the long and short runs. The results of long-run estimate show that the influence of renewable electricity consumption on economic growth is negative in the expansion regime, but it is positive in recession regime 2. However, the impact of non-renewable electricity consumption on growth is positive only in the expansion regime. Notably, the impacts of non-renewable and renewable electricity consumption are asymmetric on the economic development between the two regimes. They are convergent in the long run as the speed of adjustments is less than zero and significant in both regimes.

An estimation of macroeconomic energy rebound, intensity, and output effect: An evidence from Pakistan

The outcomes of energy efficiency are conditional on the size of energy rebound effect, which further promotes energy consumption instead of reducing it. Therefore, evaluating the energy rebound effect is a crucial constituent for environmental sustainability. In that perspective, the present paper examines macroeconomic rebound, intensity, and output effects of exogenous energy efficiency improvements for Pakistan using time series data from 1980 to 2018. For this, constant elasticity of substitution (CES) production function is estimated with two non-linear estimation techniques Nelder and Mead (NM) and Broyden Fletcher Goldfarb Shanno (BFGS). Moreover, three effects of energy efficiency are calculated for long run and short run with both constant returns to scale and variable returns to scale. The study finds about 65% partial energy rebound effect in both cases of NM method while BFGS method provides partial rebound effect (27%) in case of constant returns to scale and backfire (136%) in case of variable returns to scale. Moreover, the magnitudes of three effects in the long run are relatively high as compared to the short run effects. As anticipated, energy efficiency is relatively less effective; therefore, energy and environment policies should incorporate the energy rebound effect to achieve a sustainable economic growth path.

Does Human Capital Contribute to Achieving Economic Growth Path in Pakistan? An Empirical Investigation

This paper tries to investigate the contribution of human capital to economic growth in Pakistan. For this purpose, the education enrollment index has been constructed, as a proxy for human capital. The study has collected secondary time series data and utilized the ARDL technique for the empirical results, during the year 1974-2020. The findings of the study concluded that the education enrollment index and infant mortality rates show a positive relationship with economic growth. The rate of inflation shows a negative relationship with the GDP growth rate. The results of the study suggested that the provision of education facilities is crucial especially at the higher and secondary levels to pursue the path of economic growth in Pakistan.

Do Local Budgets Influence Regional Development? Empirical evidence from Romania

Public agenda constantly include the topics of sound local finances and promoting regional development, especially in the context of the government’s efforts to ensure a sustainable path of economic growth. From this point of view, our research is intended to empirically determine the role played by local finances on regional development, having Romania as a case study. We computed a Regional Development Index at county level, by comprising nine dimensions of progress: Our analysis encompasses data from TEMPO online database of National Institute of Statistic and from Ministry of Development, Public Works and Administration. The empirical evidence suggests a positive and significant relationship between some indicators of local budgets and our computed Regional Development Index. Reported to these results, our recommendations are directed towards the local fiscal policy, aiming to optimize the design of local budgetary indicators.

Economics of Healthy Aging in India: A Multidimensional Perspective

Abstract Aging is the foremost challenge in recent times, given the demographic shift in populations across the world. It implies the costs of healthcare burden and involves economic and social security challenges through shortage of labor supply, consumption–saving paradox, increase in expenditure on healthcare, and most importantly, social capital among the developing countries. Furthermore, there is a likely challenge of old age security in terms of income and expenditure due to increasing healthcare costs and low earning incentives at older ages. India currently has the second largest population globally, with >9% of its population accounting for aging. Based on the multidimensional aging index (AI) using the latest longitudinal survey data of older adults in India, we examined the possible challenges of the economics of aging in India while examining the economic health and social outcomes of the elderly. Our results found that the elderly in India are highly exposed to negative impacts due to vulnerability in socio-economic and health spheres of life. Low labor force participation, lack of skills, and low literacy are the prevalent challenges faced by the elderly Indian population, particularly women. Similarly, the fiscal challenges include increased income tax and insurance coverage for the elderly, while health challenges imply a greater proportion of the disabled and multi-morbid, leading to more burden on the health and welfare system of India. Thus, given the possible short- and long-term effects of aging on the path of economic growth in India, policy incentives are required to minimize the impact and avert the burden of population aging in the country.

Gardening in Russia: organizational, regulatory and technological aspect

The subject-object area of the study is the relationship of producers of fruit and berry products in the Russian Federation, with the aim of transferring the industry to the path of sustainable economic growth. A comparative analysis of production of these products in the country for the period from 2016 to 2020 has been carried out. Importance of state support measures for development of the industry is shown. The directions of development of domestic nursery breeding on the basis of improving the regulatory framework are considered. Considering that the main area of fruit and berry crops (292 thousand hectares or 63 %) is in the households of the population, therefore, it is necessary to develop their selection and assortment not only for industrial gardening, but also for households and peasant (farm) households. The necessity of granting scientific organizations the priority right to lease agricultural land for use in the study purposes has been substantiated. Transfer of the industry to an intensive development path based on the modernization of production processes is offered. Based on the materials of technological maps of horticultural organizations of the Krasnodar Territory, a list of production costs by years and the terms of their payback when laying a superintensive garden are given, which can be successfully used in business projects of the South and North Caucasian Federal Districts.

Srbija 2030 - testiranje održivosti duga i performansi rasta

The aim of this paper is to examine the adequacy of the chosen growth model of the country through the lens of Serbia's external debt sustainability. For this purpose, an empirical model was developed for making long-term projections and testing the debt sustainability, which can be considered as an operational tool when compared to existing models developed by the International Monetary Fund and the World Bank. Unlike these models, the proposed model binds all macroeconomic balance tables so that the item of one table indicates the dynamics and levels of items from other tables, thus ensuring both internal and external validity of the model. The proposed model of macroeconomic projections, in fact, implies the development of simultaneous projections of individual macroeconomic aggregates and variables as well as their reconciliation. As a result, a complete system of interconnected long-term projections is obtained. On the basis of such macro-projections, it is possible to examine the movement of debt and in this regard to examine the sensitivity of projected debt values to various macroeconomic shocks. This is extremely important in the context of growing uncertainty in the world, both in terms of economic developments and security. The consequences of the COVID-19 pandemic are yet to be summed up, but it is quite obvious that due to increased market risks, investors will be increasingly cautious when investing in other countries, which can pose serious challenges for Serbia, as a small and open economy, to finance its chosen path of economic growth and development.

КРЕАТИВНАЯ ЭКОНОМИКА В РАЗВИТИИ СОВРЕМЕННЫХ ИНДУСТРИЙ И ПРЕДПРИНИМАТЕЛЬСТВА

The paper discusses the importance of the transition of economic processes to a creative approach due to the fact that culture and creativity come to the fore, and business joins the trends set by creative communities, and, importantly, they are guided and monitored. In modern economic conditions, it becomes obvious that it is through the combination of culture and commerce, implemented in the creative industries, that it becomes possible to create a distinctive image of both companies, industries, and entire countries, regions and cities. There is a need to create an «ecosystem» of the creative economy, which would accommodate the creators. In the near future, in a world that is trying to recover from the pandemic and its unprecedented consequences, the path of economic growth based on creativity is one of the best. Strategic development of cultural and creative industries for a sustainable and inclusive recovery will bring long-term benefits, as well as be the basis for stimulating innovation, improving the quality of life and, thus, a more resilient economy with an improved ability to adapt to new conditions, in the face of challenges. But it is important to add that, while developing a creative economy, one should not be limited to creative industries – there is a high probability of obtaining a synergistic effect from the interaction of such industries and standard formats. In fact, it is the synergistic effect of such interaction that will provide new competitive advantages in a creative economy. The main focus is being rebuilt on the penetration of the creative economy into all spheres of production and provision of services. It is also important to note the potential impact of the creative economy on ensuring humancentred and inclusive development of various sectors of the economy. There is a need to build the logic of work, taking into account the integral semantic vision of the situation, avoiding the accepted patterns of action and relying on economic thinking, built on economic imagination.

The end of business-as-usual? – A critical review of the air transport industry's climate strategy for 2050 from the perspectives of Degrowth

In discourses around sustainability, increasing eco-efficiency through technological developments are highly popular as they promise the continuation of business-as-usual and appeal to economic actors whose primary motivation is to follow the paths of economic growth. Dominant narratives and visions about the bioeconomy also fit into this line of thinking by giving a central role to technological problem solving and decoupling, the opportunities of sustaining economic growth and advancing the extended use of renewable resources. In 2020, major actors of the air transport industry under the frame of the Air Transport Action Group issued Waypoint 2050 a global, sector wide strategy to tackle climate change and halve CO 2 emissions by the middle of this century. As we will establish in this paper, their sustainability strategies strongly rely on bioeconomic solutions such as sustainable air fuels and renewable energy, while their need to grow remains unquestioned. However, achieving sustainability is a wicked problem that needs clumsy solutions. And clumsy solutions only come about when highly different viewpoints are put on the table. Degrowth perspectives can most certainly enrich dialogues on sustainability transitions such as the current challenges the air transport industry faces. This paper aims to provide a critical review of Waypoint 2050, underlining why it is important for economists and policymakers to shift their understanding from pursuing endless growth toward Degrowth perspectives. We use the main arguments of Degrowth to interpret and analyse the air transport industry's climate strategy and reframe the discussions around sustainable aviation. Our goal is to show that Degrowth approaches can contribute to positively influencing the discourses of air transport by assessing the consequences of the sector and its reform strategy through diverse lenses. The discourse reflected in this paper would also be appropriate when applied to other top carbon producing industries and our assessment of air transport is not a directed criticism but rather an example on why business-as-usual scenarios need to be revisited.

Economic Growth and its Relationship to Monetary Policy -An Econometric Analysis Using Panel Models for A Sample of MENA Countries During the Period (2000-2020)-

Our study aims to know the relationship between monetary policy and economic growth, and for this goal, a sample of MENA countries was selected during the period (2000-2020), by analyzing and interpreting the path of economic growth and the factors affecting it while studying monetary policy and its impact on some macro variables such as unemployment and GDP, to measure some monetary policy indicators on economic growth, Panel Data models were used. The study reached a number of results that there is a weak impact of monetary policy on achieving economic policy objectives considering most of the developing countries in MENA, while the econometric study showed a positive effect and a direct relationship between the growth of money supply and the exchange rate on economic growth, while there is an inverse relationship and a negative impact on the volume of credit provided to the private sector on economic growth.

Challenges and risks in the process of Russia’s post-pandemic economic recovery

The COVID-19 pandemic in 2020 has had a negative impact on economies around the world. The article analyses the macroeconomic indicators characterising the Russian economy after the COVID-19 pandemic. The results of this action on Russia’s global indicators have been compared with those of some countries in the world. The objectives and activities of the “National Action Plan for Employment and Income Recovery, Economic Growth and Long-Term Structural Changes in the Economy” (hereinafter the “National Action Plan”) have been considered. This document sets out the country’s development over the next two years and measures to recover the economy from the COVID-19 pandemic. The Government of the Russian Federation is allocating 5 trillion roubles for the implementation of the “National Action Plan”. Meanwhile, the main objective is to ensure a sustainable economic development and income growth path within two years. The indicators of the main goal to be achieved by the end of 2021 are: sustainable growth of the personal income; reduction of unemployment to 5%; growth of the gross domestic product by 2.5% per annum. In conclusion, the challenges and risks in implementing the “National Action Plan” have been formulated.

A Comparative Analysis of the Economic Growth Paths of South Africa and the United Kingdom

This study compares the economic growth paths of the United Kingdom and South Africa by exploring the determinants of economic growth and examining how those determinants affected the macroeconomic performances in the two countries in 1945 and 1961, which are two defining years for both countries, and thereafter. In order to ensure its validity, the majority of the data is taken from the database of the World Bank, one of the world’s most authoritative statistical bureaus. The study also inquired into the political and social backgrounds of the two countries, which helps to reveal how and how rapidly they grew. Apart from that, the paper also utilized the Solow Growth Model—a neoclassical model for predicting future economic growth— to analyze the respective economic profiles of the two countries systematically, which can serve as a reference for decision makers to generate proper solutions for the slow growth in certain countries.

Fiscal decentralization and regional economic growth: Evidence from Mexico since the 2000s

AbstractThis study aims to examine whether decentralization causes regional economic growth for the states of Mexico in the period 1998–2016. We employ Granger causality tests and a Panel data Vector Autoregression model to account for the dynamics of fiscal federalism and endogeneity of federal transfers and economic growth. Impulse responses and variance decomposition are also employed to examine the time path of economic growth after unitary fiscal shocks from transfers. Among the results, we find federal transfers positively affect economic growth. The slim response of growth and its puzzling response to investment shocks possibly signal a soft budget problem.

Entrepreneurship Innovation and Finance

The study on entrepreneurship innovation and finance was to investigate the relationship that exists between entrepreneurship innovation and finance in Nigeria, and to understand the effect of finance on the failure of entrepreneurship innovation in Nigeria SMEs, the study tends to contribute to the literature on entrepreneurship innovation in Nigeria. The study explored data obtained from 119 enterprises and financial institutions in Nigeria. The population sample was selected through non-probability sampling method to obtain data from SMEs/MSMEs and financial institutions in Nigeria and accessed using google form. Pearson product correlation and standard multilinear regression from SPSS were used to explore the data to determine the relationship between the defined variables and to predict the impact of the independent variables on the dependent variables. The study findings indicated that there is a low positive significant relationship between finance and entrepreneurship innovation in Nigerian SMEs. Further analysis indicated that major entrepreneurship innovation deficiency in Nigeria SMEs could be attributed to education, which emphasizes the important role of adequate finance and education in entrepreneurship innovation, and performance of entrepreneurial firms in any economy. Furthermore; the study found that there is a positive significant relationship between education and entrepreneurship and negative non-significant relationship between education and innovation in Nigeria. The negative non-significant relationship between education and innovation is an implication of non-productive education, that needs to be addressed to offset the defect/deficit and position Nigeria on the path of general economic growth. The data further showed that finance and long-term credit have the highest impact on entrepreneurship performance in Nigeria. The conclusion of the study will help ease the majority of the challenges often encountered by entrepreneurial firms in Nigeria, mostly at the start-up stage of the enterprises that often lead to failures and inability to compete with other global enterprises.

Italian Migration and Entrepreneurship’s Origins in the United States of America: A Business History Analysis from the Post Second World War Period to the Present Day

Abstract The opening of international markets following World War II highlighted the differences between territories at regional and national level in terms of the attractiveness of economic activities, investment and human resources. In this context, an important aspect concerned the entrepreneurial process: businesses and entrepreneurs have played a leading role in the activation of the paths of economic growth on the product value, employment and international competitiveness. From this perspective, the study of entrepreneurial dynamics - who the entrepreneurs are, their formation, the path followed for the creation of the enterprise, socio-economic and institutional context in which they acted - becomes crucial to understand the influence of economic and social conditions in the countries of origin as well as the employment and market opportunities, infrastructures and attractiveness of the destination countries. From this point of view, the entrepreneurial path is linked to the migration process and requires a study to highlight the relationship between these two phenomena and their impacts on the development and territorial competitiveness. Starting from the analysis of the literature and researches available at national and international level, in this paper we present the first results of a quantitative and qualitative research at the Archives of the American Chamber of Commerce in Italy, as well as in other American economic institutions. The study aims to highlight the scale of the phenomenon in the Italian-Americans economic relations after World War II, the characteristics of firms with immigrant entrepreneurs, as well as the relationship between immigrant entrepreneurship and entrepreneur training. Even though the two authors share the article’s setting, please note that introduction and paragraph 1 are by Vittoria Ferrandino and paragraphs 2, 3 and 4 are by Valentina Sgro. Both of the authors wrote the conclusions.

Government Epidemic Prevention and Economic Growth Path Under Public Health Emergency: Theoretical Model and Simulation Analysis.

This paper constructs a partial equilibrium model under public health emergency shocks based on economic growth theory, and investigates the relationship between government intervention and virus transmission and economic growth path. We found that both close contacts tracing measures and isolation measures are beneficial to human capital stock and economic output per capita, and the effect of close contact tracing measures is better than that of isolation measures. For infectious diseases of different intensities, economic growth pathways differed across interventions. For low contagious public health emergencies, the focus should be on the coordination of isolation and tracing measures. For highly contagious public health emergencies, strict isolation, and tracing measures have limited effect in repairing the negative economic impact of the outbreak. The theoretical model provides a basic paradigm for the future researches to study economic growth under health emergencies, with good scalability and robustness.

Overcoming the consequences of financial crisis on the example of Island and Ireland


 Will Ireland share the fate of Iceland? Is this open, small economy with a debt-to-GDP ratio of above 130% on the verge of bankruptcy? Economists argue that if public debt is greater than national income, then smaller economies, heavily involved in the international division of labor are at risk of becoming insolvent. The bankruptcy of Ireland, whose prosperity is based on its reputation for being a good place to do business, could be a catastrophy. Contrary to the countries of southern Europe, the economy of the Green Island has never had problems with paying its liabilities and with solvency. While Greece has gone bankrupt five times since gaining independence in 1826 and Spain as many as thirteen in the past two centuries, Ireland's history in this area is impeccable (Reinhard, Rogoff, 2009, p. 3-6). Since the beginning of the 21st century Ireland's economic development has been based mainly on construction industry and not exports, as it used to be in the 1990s when the country was nicknamed the Celtic Tiger. The boom resulted in a budget surplus and a positive balance in current settlements. But it also resulted in higher prices - the Irish no longer had to accept slow wage growth to stay internationally competitive - which, combined with the low nominal interest rate of the European Central Bank, provided fertile ground for the build-up of the real estate bubble. The aim of the article is to identify the factors that led Ireland to the brink of bankruptcy and to try to answer the question whether the action of recapitalization of failing banks by the government and international financial institutions will bring the expected results in the form of healing the financial system and returning Green Island to the path of economic growth.