Economic Growth Policy Research Articles

Estimating regional timber supply and forest carbon sequestration under shared socioeconomic pathways: A case study of Maine, USA

This study provides a regional model framework to evaluate timber supply and carbon impacts of environmental and socioeconomic change in Maine, USA. We construct alternative future narratives that vary economic growth, forest management, and environmental policies and then conduct econometric analysis to project forest area and timber supply over the next 80 years under five shared socioeconomic pathways (SSPs). Forest area changes from 2020–2100 ranged from a 11% decline in SSP3 (regional rivalry) to 0.2% for SSP1 (sustainability). Maine’s forest carbon stocks and timber supply can still mutually increase before 2070 for all pathways, largely due to improvements in forest management, growth, and yield. Overall timber supply is projected to increase by 0.21–0.51% per annum, with supply expanding faster for pathways with higher timber price growth. Total forest carbon stocks (ecosystem and products) are projected to increase 0.40–0.64%/yr for similar reasons. Sensitivity analysis indicated the key drivers most likely to affect Maine’s forest sector are timber prices, population change, personal income, land value, and conservation land area. This study offers valuable insight on possible methods about region-specific socio-economic assessments.

Exploring linkages between food security and economic growth: a Systematic mapping literature review

Food security can be achieved by being carried out simultaneously alongside the economy's growth at the macro level. While many countries worldwide carry out economic growth policies to improve food security, the causal relationship between economic growth and food security is still debated. This study uses a systematic mapping review to analyze the relationship between food security (FS) and economic growth (EG) using a systematic mapping review. There are 26 previous research results from 780 articles obtained. Database from google scholar, ScienceDirect, Elsevier, and JSTOR with a limited date range on published information from 2004-2021. The result shows an empirical gap in the relationship between FS dan EG with 76.92% supporting the correlative relationship between FS and EG, while the other 19.23% claimed that there is no correlation, and 3.85% (one study) explored the relationship between EG and FI (Food Insecurity). Furthermore, 11 studies explained that EG has a positive effect on FS; one study stated that it has a negative impact, and another one hurts Food insecurity. Meanwhile, seven studies revealed that FS has a positive effect on economic growth, one study on the contrary, and two studies explained it has no effect. Availability and GDP per Capita variables were mainly used in describing the relationship between FS and EG.

Revisiting the macroeconomic variables and economic growth nexus: A Markov regime-switching approach

Purpose ―Current paper assesses the impact of macroeconomic variables on Pakistan's economic growth. Method ― This study analyzed the data using the Markov Regime switching (MS) model using monthly data for 1981-2020. Firstly, BDS and CUSUM square tests were applied to detect the non-linearity of the model. Results ―The model is non-linear, so the Markov regime-switching model is used for analysis. Each regime's mean and variance are highly significant and show a high growth regime with high volatility and a low growth regime with low volatility. Furthermore, the results show that inflation, interest rate, and trade openness negatively impact while real effective exchange rates positively affect development in both regimes. The negative effect of interest rate, exchange rate, inflation, and trade openness become more pronounced in low growth regimes. Implication ― This study suggests that policymakers should consider the non-linear behaviour of macroeconomics. This will help to formulate better policies for the economy's economic growth. Originality ―The current research adds to the existing literature by identifying the non-linear effect of growth indicators on economic growth, which was previously neglected in the case of Pakistan.

DEVELOPMENT OF ENTERPRISES IN THE DEFENSE INDUSTRIAL COMPLEX ON THE BASIS OF THE ECOSYSTEM APPROACH

The study is devoted to topical issues of development of enterprises of the military-industrial complex of the Russian Federation, which at the present stage have a high innovative potential, their interaction with small businesses to improve production efficiency. The ecosystem approach makes it possible to form new principles of integration that replace the classical forms of cooperation: contracting, institutionalization and clustering. The objects of the study were enterprises of the military-industrial complex, development institutions, business entities of the Udmurt Republic. The aim of the work is to develop a mechanism for "drawing" SMEs into the production ecosystem of a technological large defense complex business to ensure maximum efficiency of all participants in the production process. To substantiate the possibility of using the ecosystem approach as a mechanism for integrating defense industry enterprises and small businesses, the system method was used in the work (when deriving the composition of ecosystems, characterizing the components of the ecosystem, describing the presence and dynamics of links between the components), as well as the modeling method (when developing the involvement mechanism). To solve this problem, the authors have developed models of a regional accelerator of business ideas, technology transfer, a regional entrepreneurial production ecosystem as tools for innovative growth and development of enterprises in the military-industrial complex. The results obtained are consistent with domestic and foreign experience in the development of high-tech large industrial business, and therefore can be applied in the implementation of the regional economic growth policy, as well as defense industry enterprises on the way to further diversification.

Policy inference from technological innovation, renewable energy, and financial development for sustainable development goals (SDGs): insight from asymmetric and bootstrap Granger causality approaches.

We researched China's climate and sustainable development goal with relevant and susceptible instruments capable of inducing and mitigating carbon emissions. Amidst the contributor to the global carbon emissions, China is caught in between mitigating its carbon emission and aiming towards placing its national contribution of emissions to the acceptable levels of 1.5°C and below 2°C. Following the intricacies surrounding China's sustainable development as it contains its economic and environmental performance, we adopt China's data of 1980 and 2018 with different scientific approaches (nonlinear autoregressive distributed lag (NARDL), dynamic ordinary least square test, and bootstrap Granger causality) with different instruments (such as economic growth, financial development, renewable energy, and innovation policies) to research China's sustainable development. For clear exposition and insight into our findings with policies attached, we draw a conclusion from the outcomes of the mentioned approaches. From NARDL and dynamic ordinary least squares (DOLS), we find that economic growth through economic activities is statistically significant in determining the trend (increase) of carbon emissions in China in both periods (short run and long run). However, other selected instruments (financial, renewable, and innovation policies) tend towards controlling and moderating the carbon emissions in China. Thus, China has good prospects to mitigate its carbon emissions if considered tailoring its policies towards favorable instruments. From bootstrap Granger causality, we find similar inferential results that support previous findings thereby confirming the positive implication of the selected instruments to China's sustainable development. Hence, the nexus that is established among the selected instruments clearly show the importance of technological innovation and renewable energy in mitigating carbon emissions.

Finance, growth and (macro)prudential policy: European evidence

This paper examines the interactions between financial development, economic growth and (macro)prudential policy on a sample of 12 euro area countries. Our main takeaway is that active (macro)prudential policy supports the positive finance-growth nexus instead of disrupting it. These benefits are found to be more likely to materialize during tightening of (macro)prudential policy measures and not during easing. This result is conditional on the ability of (macro)prudential policy to curb excess credit growth and mitigate systemic risk, which would otherwise disrupt the market. Moreover, we assert that when analysing the effects of (macro)prudential policy, it is important to account for the direction of (macro)prudential measures, not just for the frequency at which they are implemented.

ANALISIS TINGKAT KONSUMSI IKAN DI DESA ARONGAN, KECAMATAN KUALA PESISIR, KABUPATEN NAGAN RAYA

One of the government's policies in encouraging economic growth from the fishery sectoris to increase fish consumption. Arongan Village, Kuala Pesisir Subdistrict, Nagan RayaRegency is one of the villages that has quite large fishery potential. The high potential offisheries is not always accompanied by a high level of fishery products consumption aswell. In this regard, accurate information is needed regarding the level of fishconsumption. In this study, the level of fish consumption was divided into threecategories, namely low, medium and high consumption levels. This study aimed todetermine the level of fish consumption and analyze the pattern of relationships of factorsthat influence the level of marine fish consumption in the Arongan Village, Kuala PesisirDistrict, Nagan Raya Regency. The analytical method used was descriptive quantitativemethod and multinomial logistic regression. The data used in this study was primary dataobtained through observation and questionnaires by taking samples based on randomsampling. There were 80 respondents. The results showed that there were 36.25% highfish consumption levels, 51.25% moderate fish consumption levels, and 12.5% low fishconsumption levels. It was also found that the variables of education, occupation, andincome simultaneously did not have a significant effect on the level of fish consumption,while partially, the variables of education, occupation and income did not have asignificant effect on the level of marine fish consumption.

Policy Measures to Improve the Productivity of Latvian Economy

라트비아 경제는 국내 수요 확대에 따른 지속적 성장세를 보여 왔으나 해외이주 등으로 생산가능인구가 급격하게 감소하는 상황에서 OECD 국가와의 생활수준 격차를 축소하기 위하여 생산성 제고를 통한 경제 성장 정책을 추진할 필요가 있다. 이에 본 논문은 문헌연구를 통하여 최근 라트비아 경제 상황을 분석한 후 이어서 라트비아 경제의 생산성 제고를 위한 정책 방안을 제시하고자 한다. 라트비아 경제의 생산성 제고를 위하여 직업교육훈련과 제3차 교육을 노동시장 수요에 맞게 조정하고, 기업과 연구기관 간 협업의 강화를 통하여 전 경제에 걸쳐 디지털 기술을 확산시키며 비공식 부문을 축소하고 공기업 비중을 낮춤으로써 자원배분의 효율을 제고할 필요가 있다. 특히 생산성이 낮은 라트비아의 중소기업이 자금지원이나 훈련 및 혁신지원을 통해 생산성을 제고하여야 하며 이는 사회의 통합을 위해서도 바람직하다고 할 수 있다.Latvia s economy has shown continued growth due to increased domestic demand, but it is necessary to implement policies for economic growth by enhancing productivity to narrow the gap in living standards with OECD countries at a time when the working-age population is rapidly decreasing due to overseas emigration. It is necessary to adjust vocational education and training and tertiary education to meet labor market demand, spread digital technology across the entire economy by strengthening cooperation between companies and research institutes, reduce the informal sector and reduce the proportion of state-owned enterprises, thereby enhancing the efficiency of resource allocation. In particular, small and medium-sized enterprises in Latvia, which have low productivity, should enhance productivity through funding, training and innovation support, which can be said to be desirable for the integration of society.

A Study on the Analysis of Attracting Factors for Global Foreign Direct Investment Inflows

Purpose - The objective of this study is to investigate what motivates global FDI inflows in the different economic development level and to clarify the FDI motivation type in the level of qualitative economic growth. Design/methodology/approach - Major macroscopic social·economic factors induced FDI inflows were analyzed using fixed-effect panel regression with 30-year panel data of 28 countries from 1985 to 2014. For analysis in the stage of economic growth, two category of developed and developing countries was used. And to analyze FDI motivation type in the level of qualitative economic growth, 4 shares of GDP; consumption·government·investment expenditure and export, was used as explanatory variable. Findings - In developed country, TFP(total factor productivity) and GDP have a great influence on FDI inflows, and consumption and labor compensation have a slight effect. This result indicates that the market seeking-driven, horizontal type investment is shown along with efficiency seeking investment. In developing country, human capital and TFP is shown to have greater impact on FDI inflows and labor compensation, exports, investment and government expenditures also have impacts. Thus it has confirmed that not only efficiency-seeking vertical investment for using low cost well educated laborer, but also government-driven economic growth and export policies could affect the FDI inflows. Research implications or Originality - The FDI investment decision making of multinational companies is decided by their own purpose. But, in the concept of as follows; 1) FDI is a long-term capital flowing for maximization of economic utility with limited global resource, 2) Thus FDI could be affected by macro socio·economic factors of host country. 3) Also such macro factors is different by each economic growth qualitative level. Therefore macro socio·economic factors of each country could be affected by the qualitative level of their own economic growth. To attract FDI inflows, it is desirable to implement differentiated incentive policies in the qualitative level of economic growth. Furthermore in developing countries it is recommended to implement government driven economic growth policies as follows; fostering well educated human resources, improving technology productivity in the relative lower cost labor market compared to developed countries and boosting international export volume.

Implementation of Defense Industry Policy in Supporting National Economic Growth

Implementation of Defense Industry Policy in Supporting National Economic Growth

Implementation of Defense Industry Policy in Supporting National Economic Growth

This study aims to identify and analyze the implementation of defense industry policies in supporting national economic growth. The research method used is literature review research with a descriptive approach. The results of the study show that the defense industry has contributed to national economic growth during the COVID-19 pandemic. This refers to the active role of the defense industry, which does not only focus on the defense of the national border area, but also becomes the support and solution for national economic defense. In addition, the policies implemented to encourage national economic development have multiple effects on the surrounding community, where this will contribute to morale and mobilization contributions from the defense industry to encourage the growth of broad economic awareness.

Revisiting the determinants of Economic Growth: An Implication Regime Switching model in case of Pakistan

In the current study, relevant determinants of economic growth in Pakistan were examined from 1981 to 2020. The results of the BDS non-linearity test corroborate the non-linearity of the data, and the Markov regime-switching model is applied. In both regimes, the real effective exchange rate (RER), inflation (CPI), and potential output gap have a positive impact on economic growth, whereas openness has a negative impact. Furthermore, in high growth regimes, interest rates (CMR) have a positive relationship with economic growth, but in low growth regimes, they have a negative relationship. Based on the study's empirical findings, it is advised that policymakers examine the nonlinear nature of macroeconomics. This will aid in the formulation of better policiesfor economic growth. Further, it is recommended that policymakers take measures to reduce the heat of the economy through demand management policy. This policy may hurt other sectors of the economy negatively which does not contribute to heating the economy.

Investigating Relationships Between Tourism, Economic Growth, and CO2 Emissions in Brazil: An Application of the Nonlinear ARDL Approach

Global tourism has witnessed a significant positive implication on the development of developing economies. Despite the positive implication of tourism, it imposes a serious environmental cost such as environmental pollution. Brazil receives a large number of tourists each year that potentially affects economic growth and development. Therefore, this study investigates the effect of tourism on GDP and CO2 emissions in Brazil. We used a nonlinear ARDL approach to examine the nexus between tourism, economic growth, and CO2 emissions in Brazil for the period 1995–2018. The outcomes of this study reveal both short-run and long-run associations between tourism, GDP per capita, and CO2 emissions in Brazil. Nevertheless, both tourism and economic growth cause significant deterioration of the environment quality in Brazil. These findings suggest that the policymakers shall look for more sustainable and eco-friendly economic growth and tourism policies to preserve the environmental quality in Brazil.

Port special economic zones as an incentive for development in the conditions of COVID–19

Special economic zones are becoming an increasingly common and popular instrument of economic growth policy, especially during the COVID:19 pandemic. They belong to economic regulators and have existed for several centuries. The article considers the existing types of special economic zones. Attention is focused on the specifics of the port zone as the most relevant form of business support and development during the COVID – 19 period.

Worldwide Research on Open Innovation in SMEs

Research on open innovation (OI) has increased in recent years, showing its potential in various areas of knowledge. Its relation to small and medium-sized enterprises has attracted the attention of academics. This article aims to evaluate the intellectual structure of the scientific study of OI, and its close relationship with various scientific fields, through a bibliometric analysis of this academic field using the Scopus database and the application of the VOSviewer software. The methodology comprises a rigorous systematic and transparent process divided into four phases: (i) the establishment of search criteria for the research field, through a literature review for its selection; (ii) the selection of the database, the establishment of the search equation and extraction of information; (iii) the application of inclusion and exclusion criteria for the selected documents and an explanation of the usefulness of the software; and (iv) the analysis of the results through the approaches of scientific output performance and bibliometric mapping. The results show an increasing trend of IO publications in SMEs, consolidated in 396 articles with contributions from 65 countries and 947 authors. The intellectual structure shows seven themes related to firm performance, R&D networks, business management, business models, capabilities and knowledge transfer. This study contributes to the field by providing an overview of IO in SME contexts. It also provides insightful information to policymakers for developing policies for firm economic growth.

Effect of Global Economic Recession on Regional Autonomy Policy South Sumatra 2022

Law of the Republic of Indonesia Number 9 of 2015 concerning the Second Amendment to Law of the Republic of Indonesia Number 23 of 2014 concerning Regional Government. Regional revenues budgeted in APBD can guarantee that regional and community independence will soon be realized, especially from general allocation funds which will provide certainty for regions in obtaining financing sources. Regarding the effect of the recession on economic growth and government policies, a number of international institutions project world economic growth in 2023 to be in the range of 2.3% -2.9%. In this case, regional income has a relationship with various social physical and economic variables is to identify which variables have an influence on the acceptance of regional income. Through regional autonomy, the transfer of government authority by the central government to autonomous regions aims to achieve prosperity through public services that are basic services as well as leading sector development.

Optimal public debt under demographic changes in China

ABSTRACT In this paper, we use an overlapping-generations model to estimate the optimal public debt level in terms of the growth-maximizing theory under changing demographics and examine the fiscal sustainability in China. The results suggest that the optimal level of public debt in China lies in a scope of 70% to 88%, which varies as a function of the driving force of the production, the number of children, and the subsidy policy for rearing the children. On the basis of fiscal space framework, we can conclude that China’s public debt and thereby the fiscal position is sustainable in the near and medium terms. Sensitivity analyses and robustness tests also support our empirical findings. Our study provides insights into public debt management, population policy, and strategies for economic growth in China.

The nexus between digital economy and carbon dioxide emissions in China: The moderating role of investments in research and development

Since the signing of the Paris Agreement, it is necessary for the signatories to report their nationally determined contributions regarding the adoption of domestic strategies that are to be adopted to achieve emission-reduction commitments. Accordingly, the Chinese government has also declared the target of turning carbon-neutral by 2060. In this regard, the digitalization of the Chinese economy can be hypothesized to attain the carbon-neutrality agenda since an emerging digital economy has immense potential in ensuring environmentally-sustainable economic growth. Besides, it is also argued that investments in research and development can also facilitate this cause by developing the latest technologies that can limit emissions of carbon dioxide in China. Against this backdrop, this study aimed to check whether digitalization and research and development investments can help China achieve low carbon growth. In this regard, this study utilized annual data of 30 Chinese provinces between 2006 and 2017. The findings revealed long-run cointegrating relationships between carbon dioxide emissions, digitalization, research and development investments, and other major macroeconomic variables. Besides, digitalization is found to curb the provincial emission figures. Moreover, research and development investments are evidenced to not only curb the emission levels but also perform the role of a moderator between digitalization and carbon dioxide emissions. Similar direct and moderating effects of technological innovation are also discovered. Furthermore, economic growth, financial development, and energy use boost higher carbon dioxide emissions in China. In light of these findings, this study recommends the Chinese government integrate the digitalization and environmental development policies by enhancing investments in research and development. In addition, China should also look forward to green its economic growth, financial development, and energy transition policies.

The linkages between natural resources, human capital, globalization, economic growth, financial development, and ecological footprint: The moderating role of technological innovations

Ensuring a balance between economic and ecological well-being has emerged as a key concern for governments worldwide. In the contemporary era, the global economies, especially the developing ones, emphasize the relevance of achieving eco-friendly growth whereby the ecological footprint figures are aimed to be contained alongside higher economic growth. However, in the majority of the cases, the developing countries are flourishing economically but are struggling to curb their ecological footprint levels. Against this backdrop, this study aimed to check whether or not technological innovation, natural resource consumption, globalization, economic growth, human capital development, and financial development influence the ecological footprint figures in 73 developing countries over the period from 1990 to 2016. Besides, to capture the possible heterogeneity of the outcomes, this study also conducted the analysis using sub-samples of countries belonging to the Asian, African, and Latin American and Caribbean regions. Moreover, in order to estimate the robust and reliable outcomes, this study employed the second-generation panel unit root and long-run cointegration tests. The overall results indicated that the variables have a mixed order of integration and are cointegrated. On the other hand, the long-run regression outcomes show that natural resource consumption significantly increases ecological footprint while technological innovations help to inhibit them. In addition, technological innovation was evidenced to exert a moderating effect to reduce the negative environmental consequences associated with natural resource consumption. Interestingly, these findings are homogenous for countries across all three regions. Also, globalization was witnessed to reduce the ecological footprint of African and Latin American countries only. Besides, the environmental Kuznets curve hypothesis is verified for the African and the Latin American and Caribbean nations but not for the cases of the Asian countries. Lastly, financial development was found to decrease ecological footprints overall, and for the Asian countries but not for the African and Latin American and Caribbean countries. Among the major policy recommendations, this study suggests the governments of the developing nations to adopt relevant policies regarding making efficient use of natural resources through technological innovations. In addition, the future human capital development, globalization, economic growth, and financial development policies should be aligned with the sustainable environmental development objectives.

Economic Growth and Fiscal Policies in Scandinavia

This paper comprises the research of the impact that taxation exerts on the economic growth rate in Denmark, Norway and Sweden, through an econometric approach during the years 2002 – 2018. The analysis is based on the estimation of a Panel Data model by taking in account fiscal, economic and control factors as explanatory variables.