Pattern Of Economic Growth Research Articles

Sprawling Metropolis: A Case Study of Indore with Sustainable Solutions

Urbanization can take many different shapes around the world: it can take the form of low-density residential neighborhoods, business districts, or industrial estates that surrounds undeveloped areas. In developing nations, urbanization rates are rising, and India's urbanization trend demonstrates growth that exceeds national borders. The limited supply and high cost of land inside city limits encourage urban growth outside of established metropolitan boundaries. Urban sprawl, or the outward growth of cities into surrounding rural areas, is a major aspect of contemporary urbanization around the world. The phenomena provides both possibilities and challenges for sustainable urban development as it is closely related to rapid population increase, economic growth, and changing patterns of land use. Major geographical changes are happening in Indian cities because of the country's rapidly urbanization, which has been accelerated by growing populations, migration from the countryside to the cities, and economic growth. By 2031, it is projected that there will be more than 600 million people residing in cities in India, which emphasizes the urgent requirement to solve the issues caused by urban sprawl. The city of Indore, India, which makes a good example of the complexities of urban growth in India. Indore, one of the most rapidly expanding cities in the nation, has grown quickly in the past few years, particularly within the northeast region. This study explores the causes behind this in Indore, the challenges it raises, and how cities can be more sustainably designed to avoid these problems. Keywords-Urban sprawl, Urbanization, Sustainability, Sustainable Solutions

SPATIAL DISTRIBUTION PATTERNS OF POVERTY AND ECONOMIC GROWTH FOR ACHIEVING SUSTAINABLE DEVELOPMENT TARGETS IN EAST JAVA PROVINCE

<p>Poverty and economic growth are still indicators of a country's success in managing its resources and population. Countries in the world have agreed to make poverty alleviation the first sustainable development priority. This article aims to look at the spatial distribution pattern of poverty and regional characteristics, as well as the pattern and structure of economic growth in city districts in East Java Province. The methods used include spatial autocorrelation analysis, regional financial capability analysis, Klassen typology, and regional characteristics analysis. Based on the pattern of poverty distribution for the period 2014 – 2023, poverty in East Java Province tends to change with the dominance of class 2 poverty. Sampang, Pamekasan and Sumenep regencies tend to experience a stable poverty pattern in Class 3. Pockets of poverty are clustered on Madura Island with a percentage poverty is above 18% and the characteristics of a low Human Development Index (HDI) value, low number of (people’s business credit (KUR) recipients, inadequate sanitation, not very high economic growth, and frequent flood disasters. As many as 65.78% of areas in East Java Province have high financial capacity, so that policy direction can be focused on poverty pocket areas with a high percentage of poverty, through increasing HDI, optimizing KUR, fulfilling adequate sanitation, increasing disaster response, and developing leading sectors. for increasing Original Regional Income (PAD) and economic growth.</p>

Dynamics of R&D Efforts, Patents, Exports and Economic Growth by World Trade Region, 1990-2021

This paper has two objectives. First, to compare the dynamics of R&D/GDP (%), resident patent applications, high-tech exports -VATX- (%), and the innovation and economic growth patterns of countries in North America, the European Union and Asia between 1997 and 2021. Second, to estimate the impact of R&D/GDP and resident and non-resident patent applications on VATX for each selected country through an ARDL model in the period 1997-2016. Results show that countries with more resident patent applications have more VATX. Overall, the effect of the number of resident patent applications and R&D expenditure on VATX depends on the dynamics in each country. Thus, in the United States, Germany, Japan, and China, the effect of the R&D, the number of resident and non- resident patents applied for, on the tendency to VATX is positive, while in the rest of the economies, the results are mixed. Comparing the dynamics of innovation and economic growth between the “old” and “new” members of the European Union, we find evidence of differentiated patterns, with the “old” members’ economic growth is particularly linked to the sustainability of innovative activity, supported by continuous R&D efforts, while among the new members some are beginning to build the virtuous circles that will lead them to sustainable economic growth. The differences are also evident among the USMCA countries, where the United States is the leader and Mexico has dispersion and erratic growth rates, showing that economic growth is not significantly related to innovation. In contrast, in the Southeast Asian region, the dynamics of innovation and GDP grow in a sustained and articulated manner over time.

Low-carbon transformation path of power mix in the Yangtze River Delta region

The Yangtze River Delta (YRD) region is highly dependent on coal resources, forming an energy and electricity consumption inertial mass dominated by fossil fuel and maintaining a high-carbon economic growth pattern for a long time. This study aims to optimize the power mix and transmission and promote carbon emission reduction in the power sector in the YRD region. This study has constructed a Mixed-Integer-Linear programming (MILP) model, improve the flexibility of the power system through inter-regional transmission and storage, and identify the key factors affecting the low-carbon transformation. We simulate the optimal path of carbon emissions reduction through multi-scenario simulation of power mixture optimization and transmission layout adjustment. We designed various scenarios that changed the level of generation, transmission and other factors to simulate the carbon emissions evolution path. This study draws some key conclusions that are different from those of other regions, such as the Beijing-Tianjin-Hebei. The results show that under the combined effect of high carbon emission reduction costs and policy constraints, the more stringent carbon emission regulation scenario will significantly reduce carbon emissions, and the power mix will shift from high carbon to clean. The low-level regional development (L-RD) and high-level regional development (H-RD) scenarios have similar infrastructure construction costs, while the H-RD scenario can reduce the marginal cost of power generation through transmission, so its total cost is reduced. When the regional interconnection degree improves H-RD, marginal generation and transmission costs will reduce due to the free flow of electricity within the region. This approach will generate higher economic and environmental benefits by using energy storage to make up for the intermittency of renewable energy power generation and ensuring the stability of the power supply when reducing the proportion of thermal power.

A Dynamic Cointegration Analysis of Money Supply, Inflation and Economic Growth in Pakistan

The understanding of the dynamic and complex interdependence between the money supply, inflation and economic growth needs extraordinary consideration for devising the effective policy formulation to attain the desired macroeconomic goals of the country. Therefore this study is attempted to deeply investigate the interconnecting behavioral patterns of money supply, inflation and economic growth in case of Pakistan. In order to examine the short run and long run nexus between the variables, the present study acquired the time series data over the years from 1990 to 2022. An execution of Johansen Cointegration technique along with Vector Auto regression Analysis (VAR) revealed the existence of long run cointegration between the variables. The results of the study disclosed that rising trends of inflationary trends are dominantly destructive for the economic growth of the country. The findings from the study also explain a proportionate impact of money supply towards the rate of inflation in Pakistan. This study also suggests that an upsurge of economic growth rate is a vital element to discourage the climbing prices in the country.

Decent work deficit in India: Deterioration and determinants

Abstract India is being projected internationally as a country of good growth and good governance, which in turn, it is asserted, should lead to prosperity for its people, especially in terms of proper employment, income, and overall standard of living. Drawing on certain dimensions of decent work proposed by International Labour Organization to measure the quality of employment in India, this article explores how far the notions of good/high growth and good governance discourse are corroborated by the evidence of good quality employment in India. The study is based on the nationally representative unit/individual-level data published by the Government of India during the three periods 2009–10, 2018–19, and 2022–23. The main findings of analysis are: (a) the overall quality of employment in India is poor and stagnant or deteriorating, and (b) the macro-level (sub-national state-level) aspects, such as the overall volume of economic activities, the extent of quality governance, the flexibility of business regulatory environment and better labour law-related compliance, have had a significant negative influence on the quality of employment. Thus, this paper suggests that the very policy environment and the pattern of economic growth have put a drag on the quality of employment in India. Given this, we suggest a variety of countervailing policy options and emphasise the role of civil society and politics.

The paradox of transfers: Distribution and the Dutch disease

AbstractWe develop a new model of international trade with nonhomothetic preferences whereby within‐country income distribution affects the pattern of trade and economic growth. Alternative forms of foreign transfers, such as foreign aid and remittances, interact with the income distribution in dissimilar manners, which in turn generates differences in spending patterns, production patterns, and the pattern of international trade. In a three sector model with international trade and production we show that while remittances foster economic growth, foreign aid can cause economic stagnation. A production shift to the sector with less long‐run growth potential is known as the Dutch disease and in our model the disease is triggered by within‐country income differences and the form of the foreign transfer. We empirically verify these hypotheses with data from a panel covering the years 1991–2009 while controlling for the issues of omitted variable bias and the possible endogeneity of foreign aid and remittances.

The contribution of digitalization to non-inclusive growth in Japan. A Régulationist perspective on post-industrial dynamics

While inclusive growth has been considered a major characteristic of post-war Japan, this is no more the case since the early 1990s as the country transitioned to a post-industrial economy. This paper seeks to explain that digitalization is a primary drive of growing inequalities in post-industrial Japan and argues for incorporating the digital divide into the investigation of changing economic structures and growth patterns. We mobilize the Régulation theoretical framework, which posits that the impact of technology on growth and inequality regimes is not homogenous across countries and over time. Our empirical investigation combines macro-level data and institutional perspective with case study of the hospitality sector, in line with the Régulationist concept of the ‘anthropogenic’ mode of development. Our major conclusion is that digitalization, in the specific Japanese context, is leading to non-inclusive growth patterns through its effects on the wage-labour nexus, in an idiosyncratic way.

Cross-jurisdictional analysis and forecasting of North American nuclear fuel inventory using a standardized unit

This study fills the noted gap in comparative analyses of spent nuclear fuel (SNF) by assessing inventories from two key nuclear power regions, the USA and Canada, using a comprehensive analytical framework and standardized data from 2009 to 2021. In the USA, SNF inventory increased by 14.7 % in fuel assembly weight and 47 % in residual heavy metal content compared to Canada, in line with their use of light water reactors. Canada's SNF production is directly correlated to its nuclear power output, influenced by the lower burnup of natural uranium fuel used in CANDU reactors (R2 = 0.57; p-value < 0.05) while the USA shows insignificant correlation, likely due to a variety of reactor types and higher burnup rates (R2 = 0.008; p-value > 0.05). Further, the study identifies a strong negative correlation between uranium mine production and SNF inventory in the USA, indicating a reliance on imports amidst negligible domestic mining. In contrast, Canada also exhibits moderate negative dependency due to its position as a major uranium exporting jurisdiction. The obtained negative correlations with coal rents in both countries indicate a shift towards more nuclear energy use, impacting economic growth and energy patterns. The developed predictive models indicate a higher future SNF increase in Canada than in the USA. These findings are essential for planning the transition from temporary to permanent SNF disposal, ensuring safe long term management of radioactive waste.

Technological progress and economic dynamics: Unveiling the long memory of total factor productivity

This study aims to explore the dynamics of total factor productivity (TFP) in 40 advanced economies and its implications for economic stability, growth patterns, and technological integration. Understanding the concept of long memory in TFP is crucial in comprehending the diverse paths of economic development and technological advancement in different nations. The study endeavors to clarify the concept of long memory in TFP and analyze its impact on economic stability, growth patterns, and technological integration on a global scale. The research employs a sophisticated methodological framework that integrates a combination of unit root tests, non-parametric methods, fractional integration techniques, and ARFIMA models. This multifaceted approach provides a nuanced understanding of the persistence in TFP series and helps distinguish between stable and mean-reverting TFP dynamics across different nations. The analysis highlights the varying trajectories of TFP across these economies, which sheds light on the diverse paths of economic development and technological advancement. The findings of this research are pivotal in comprehending the role of TFP in shaping growth convergence, influencing business cycle fluctuations, and technological progress. The study contributes to policy discourse by proposing strategic policy measures that harness the long-term trends of TFP. These recommendations encompass key areas such as labor, capital, institutional frameworks, and innovation policies. Countries can optimize sustainable economic development and foster effective technological integration in an increasingly interconnected global economy by implementing these measures.

An Analysis of the Patterns of Economic Growth in the US

ABSTRACT This article seeks to investigate which demand component led and shaped the growth patterns of the US economy between 1954 and 2020 and comprehensive sub-periods relying on a proper allocation of imports. In doing so, it aims to establish whether the external sector can make a positive contribution to growth even in a context of negative net exports. Finally, it seeks to shed light on the reasons for higher or lower output growth, drawing particular attention to the engines of growth in each historical period. This article takes a novel approach in two ways: (1) it calculates and analyzes the decomposition of the contributions to growth for the US; (2) it divides the analysis into sub-periods and engines of growth, separately analyzing movements in the components of the multiplier, the dynamics of each component’s share with respect to GDP, and their respective growth rates. The empirical results show that the very low growth rates experienced between 2008 and 2020 are mainly explained by a minimal contribution of the government sector accompanied by weak demand from the private sector, highlighting the importance of growth-oriented public policies. These negative results have been only partially compensated by improvements in the external sector.

Biomass and Circular Economy: Now and the Future

Biomass is inherently organic and renewable, promoting a circular economy ecosystem. As global consumption patterns change, circular economy strategies have turned into sustainable net-zero strategies for developing countries and developed countries, and its value chain is now included in important biomass energy policies. Many countries are actively transforming their economic growth patterns, developing their own circular economy, targeting ecological sustainable development, and adjusting domestic industrial structures. The concept of a circular society, synergistic with the social economy and developed on the basis of the circular economy, has production and consumption at its core. This research aims to verify the important roles that biomass plays in the circular economy and to initiate a virtuous resource circulation model, promote material recycling and reuse, form a “resources-products-renewable resources” model, and promote better resource use efficiency. It discusses the important roles that the bioeconomy plays when achieving a circular economy and also proposes new economic and policy concepts. The key conclusions cover: (1) the biomass energy–circular economy business model; (2) recognizing the co-benefit of consumers and a prosumer circular economy; and (3) challenges to a renewable cycle under economic applications.

Entrepreneurial dynamism and sustainability: Unveiling Europe’s economic growth patterns through cluster analysis

This paper highlights the complex relationship between entrepreneurship, sustainable development, and economic growth in 41 European countries, using a reliable K-Means cluster analysis. The research thoroughly evaluates three key factors: the SDG Index for sustainable development, GDP per capita for economic well-being, and the New Business Density Rate for entrepreneurial activity. Our methodology reveals three distinct narratives that embody varying degrees of economic vitality and sustainability. Cluster 1 comprises the financially stable and sustainability-oriented countries of Western and Northern Europe. Cluster 2 showcases the variegated economic and sustainability initiatives in Central and Southern Europe. Cluster 3 envelopes the economic titans with noteworthy business expansion but with the potential for better sustainable practices. The analysis reveals a favourable association between economic prosperity and sustainable development within clusters, although with nonlinear intricacies. The research concludes with a series of strategic imperatives specifically crafted for each cluster, promoting economic variation, increased sustainability, invention, and worldwide collaboration. The resulting findings highlight the crucial need for policy-making that considers the specific context and the potential for combined European resilience and sustainability.

Does capital efficiency influence economic growth in Bangladesh? Application of the Harrod-Domar model

PurposeThe main purpose of this paper is to analyse the influence of capital efficiency on the economic growth of Bangladesh using the Harrod-Domar (H-D) model.Design/methodology/approachWe use annual data from 1980 to 2019 for this paper. Three steps are taken in the data analysis. First, to check the existence of a unit root, we use the augmented Dickey-Fuller (ADF) test and to determine co-integration among the variables, we use the Johansen-Juselius co-integration test. Next, for long-run estimation, we use the dynamic ordinary least square (DOLS) estimator. The sensitivity of the long-run estimations is further checked by the fully modified OLS (FMOLS) and autoregressive distributed lag (ARDL) estimators. Lastly, we use the Granger causality test to determine the long-run causality among the variables.FindingsThe long-run co-integration test validates the co-integrating relationship among the variables. DOLS estimations reveal that the economic growth of Bangladesh is negatively associated with the incremental capital output ratio (ICOR), validating the notion that capital efficiency matters for achieving higher economic growth. On average, an increase in ICOR by a unit tends to reduce economic growth in the long term by 0.75 percent. Our results also reveal no significant relationship between savings and economic growth when the model is extended. Finally, causality results indicate unidirectional causality between ICOR and economic growth.Practical implicationsBased on the results obtained, we argue that the enhancement of capital productivity could bring efficiency because ICOR is an inverse of capital productivity. Since Bangladesh’s capital productivity is considerably low compared with other neighbouring countries, it is suggested that firms should gradually move towards technological advancement and enhance economies of scale, etc. in the long run. Moreover, policies in favour of continuous skill development programmes could be highly effective in increasing capital productivity given that capital follows a vintage structure.Originality/valueThis is the first paper to analyse the economic growth pattern of Bangladesh using the traditional H-D model by incorporating variables such as savings and ICOR and also by relaxing the assumption of time-invariant (i.e. fixed) data of the variables. Moreover, this paper extends the traditional H-D empirical model by introducing key indicators and time breaks for Bangladesh’s economy through a stepwise regression process.

THE IMPORTANCE OF FOREIGN DIRECT INVESTMENTS TO REDUCE UNEMPLOYMENT RATE AND MIGRATION CHALLENGES IN UZBEKISTAN

Uzbekistan, with its burgeoning economy and strategic location, stands poised at a critical juncture in its developmental trajectory. However, persistent challenges such as high unemployment rates and significant migration issues threaten to impede its progress. This paper explores the pivotal role of investment and foreign direct investment (FDI) in addressing these challenges. By examining the nexus between investment inflows, economic growth, employment generation, and migration patterns, this paper elucidates the potential of targeted investment strategies to foster sustainable development and mitigate socio-economic disparities in Uzbekistan

Does Economic Growth, Government Spending, Open Unemployment, and Consumption Patterns Affect the Human Development Index Islamic and Human Development Index?

This concept cannot yet be a universal measure of human development. The Islamic human development index (I-HDI) is here to offer a concept for measuring human development based on maqāṣid al-sharī‘ah. The research aims to analyze economic growth in mediating the influence of government spending on the education, health, and social sectors, open unemployment, and consumption patterns on I-HDI and HDI. The research results of government spending on the education, health, and social sectors as well as consumption patterns is positive and significant, while economic growth and the Open Unemployment Rate (TPT) have a positive but not significant effect on I-HDI. Meanwhile, government spending on the health sector, social sector, and consumption patterns have a positive and significant effect, government spending on the education sector has a negative and insignificant effect, and economic growth and TPT have a positive and insignificant effect on HDI. The magnitude of the direct influence on IHDI is 53.04 percent and on HDI is 59.71 percent. Economic growth as an intervening variable is unable to mediate the influence of government spending on the education sector, government spending on the health sector, government spending on the social sector, TPT, and consumption on I-HDI and HDI.

Analyzing the Impact of the Pandemic on Indonesia’s Economic Growth Using Dynamic Time Warping

Asia’s GDP experienced the most drastic decline during the COVID-19 compared to other economic crises. This study collected data on economic indicators for each province/city to observe economic growth in Indonesia, such as Gross Regional Domestic Product (GRDP), unemployment rate, and economic growth. The clustering method on time series data found several provinces/cities with similar economic growth patterns to observe the pandemic's impact on their economies. Knowing the pattern of economic growth will help the regulation holder support provinces with the right policy. For this purpose, we utilized the Dynamic Time Warping (DTW) distance with the k-medoids procedure. The DTW is an algorithm for measuring the similarity between two temporal sequences. The clustering of the three economic indicators had three clusters with the most optimal validation index. Each cluster had almost the same pattern since the trend tended to increase from before the pandemic and then decrease during the pandemic. The decrease in GRDP was less significant than the minimal data on GRDP that happened before the pandemic. Most provinces had negative economic growth during the pandemic, which skyrocketed even for the first quarter of 2023, almost the same as before the pandemic.

Spatiotemporal drivers of food system GHG emissions in China

Food systems emissions (FSE) account for one-third of anthropogenic GHGs. Mitigating these emissions is pivotal for achieving the 1.5 °C target. Given current research gaps in regional FSE accounting and drivers for China, the world's largest food system emitter, this study constructs a regionally specific, bottom-up FSE inventory detailed by food types and downscales FSE drivers to the provincial level. China's FSE exhibited an initial decline due to energy pattern upgrades during the period of 1990–2000, followed by a rise between 2000 and 2018. Increases were predominantly in developed southern regions and were propelled by economic growth, consumer expenditure, and dietary pattern shifts. This study reveals the spatial heterogeneity of emission sources and drivers, emphasizing the necessity of demand-side mitigation strategies in developed areas. It underscores the importance of formulating regionally differentiated emission reduction and interregional compensation policies.

Century of the East and Peaceful coexistence of China and India: Moderating role of Belt and Road Initiative in Emerging Asian Economies

The study focusses on historical perspective, contemporary historical perspective as well as futurologist perspective of Sino-India relations, economic development and bilateral trade. The economic growth has been examined with the interaction effect of Belt &amp; Road Initiative. The purpose of this study is to find out the reasons of correlation between Sino-India economic growth patterns for last two thousand years as well as making recommendations for the optimal level of the relations in the region in the emerging century of East. The study further aims to examine the cross-country impact of infrastructure development on other countries. A total of thirty countries which are a part of Belt and Road Initiative were selected. The data is collected from World Bank Database from 1990 to 2019 (n=900). The data were analyzed using penal data regression models (fixed random effect regression models) to test the effect of macro-economic variables on economic growth, while hierarchical moderated regression analysis was used to determine the moderating effect of Belt and Road Initiative on the economic growth of participating economies. Belt &amp; Road Initiative significantly moderate the relationship of economic growth with its factors. Therefore, we conclude that Belt &amp; Road is pivotal for economic growth of region. In the century of Asia, China and India must understand that trade cooperation and congenial relations with in the region is beneficial for all the stakeholders in Asian Region while West and USA want to utilize India to halt the progress in the region and converting India a leading state to fight with China in the best interest of West. The only resolvable issues in Sino-India relations are border marketing in Tibrt, Arnachal Perdesh and Kashmir which are not only hampering the economic growth of these areas but also deviating the focus from economic growth towards militarization of the region. The limitations of this article is that the idea of Belt &amp; Road was initiated in 2013 and different countries have joined BRI in different years. We have taken only those countries which have become a part of BRI till 2017. Another limitation is that we have selected few macroeconomic and social variables to test their effect on economic growth. We have selected those variables which are important for developing economies since majority of countries in BRI are developing. It is a unique study from the perspective, that it is using the available and estimated GDP of last two thousand years to find out the correlation between China’s and India’s economic growth and based on empirical analysis rather than theoretical one, suggesting the optimal level of relationship between China and India, why active participation of Betl &amp; Road Initiative (BRI) by India is necessary for India’s growth.

The Effect of Global Monetary Policy Changes on the Financial Strategy of International Companies

In the interconnected global economy, the financial strategies of international corporations play a crucial role in navigating the dynamic landscape shaped by various factors, including monetary policies set by central banks worldwide. This narrative explores the intricate interplay between global monetary policy changes and the financial strategies of multinational corporations, investigating how shifts in these policies reverberate across borders, impacting corporate decision-making, risk management, and performance. Over recent decades, significant transformations in monetary policy frameworks have occurred, driven by evolving economic paradigms, financial crises, and geopolitical dynamics. Central banks have deployed a range of tools, from conventional inflation targeting to unconventional measures like quantitative easing, to stabilize economies and stimulate growth. However, the effectiveness and unintended consequences of these policies transcend domestic boundaries, permeating the international financial system and shaping the strategic imperatives of multinational corporations. The impact of global monetary policy changes on international companies' financial strategies is substantial. U.S. monetary policy shocks notably affect foreign firms, especially those with extensive global production linkages and financial constraints. Financial globalization has made domestic financial conditions more vulnerable to external shocks, reinforcing the case for price stability as an optimal monetary rule. The volatility of foreign currency exchange rates significantly affects international budgeting, while multinationals with foreign involvement exhibit lower leverage ratios and rely more on short-term borrowing. One primary channel through which global monetary policy changes influence international companies is by altering financing costs and access to capital. Changes in interest rates and liquidity conditions affect borrowing costs for firms operating across borders, impacting investment decisions, capital allocation, and capital structure optimization. Additionally, these changes induce currency fluctuations and volatility, necessitating robust currency risk management strategies to safeguard revenues and mitigate exchange rate exposure. Furthermore, global monetary policy changes affect asset prices, financial markets, and investor sentiment, shaping the risk-return dynamics faced by international companies. Expansive monetary policies often fuel asset price inflation and influence investment strategies, while abrupt policy shifts can trigger market dislocations and liquidity constraints. Beyond financial markets, monetary policy changes influence macroeconomic variables, such as economic growth, inflation, and trade patterns, shaping international companies' operating environments and strategic decisions. In conclusion, the interconnectedness of global financial markets accentuates the importance of agility, flexibility, and strategic foresight for multinational corporations in navigating the impact of monetary policy changes on their financial strategies and overall performance.