Development Economics Research Articles

Integrating Complex Derivative Models in Understanding Dollarization’s Impact on Sustainable Development Goals and Environmental Economics: A Neo-Classical Finance Perspective

Dollarization has major implications for sustainable development and environmental economics in developing countries. This paper integrates complex derivative models from neoclassical finance theory, including stochastic volatility, copula, and regime-switching models, to quantitatively analyze the impacts of dollarization. The models examine effects on poverty, inequality, economic growth, natural capital investment, and green bond financing access related to sustainable development goals and environmental economics. Despite limitations in assumptions, the models provide useful risk quantification. Results suggest dollarization exacerbates volatility and negative externalities, hindering sustainability objectives. The integration of derivative modeling and development economics provides an analytical framework for examining dollarization, indicating potential gains from gradual de-dollarization policies. Further empirical research is warranted to validate the theoretical insights.

Amartya Sen as a Neoclassical Economist

Amartya Sen is often described as an insightful critic of mainstream economics, and in particular, his work in development economics, alongside the construction of the capabilities approach, has been associated with endeavors to revisit both the theory and practice of the discipline. Despite his in-depth criticisms of certain aspects of mainstream economics, Sen’s extensive use of formal methods is suggestive of an ontological tension, one identified by Thorstein Veblen when commenting on some of his contemporaries and originally introducing the term “neoclassical.” Veblen argued that the work of these economists involved both an implicit recognition of a causal processual social ontology he associated with modern, thoroughly evolutionary, approaches and a commitment to a taxonomic conception of science—the latter relying on a set of methods that presupposed an associationist ontology of event regularities. For Veblen, the adherence to taxonomic methods was the classical feature of their work, and the commitment to an evolutionary viewpoint was the neo aspect. This article argues that the same tension runs through Sen’s contributions and that he is neoclassical in this specifically Veblenian sense. The assessment of the ontological inconsistencies in Sen’s work is shown to shed light on its reception within the economics academy.

Behavioral Economics as a Modern Market assessment tool

The market acts as the most important component of the institution of the modern world. The market means not only the relationship between consumers and sellers, but also the external environment in which they are carried out. In turn, such market relations are significantly influenced by the totality of human choices and decisions (both rational and irrational).To study the characteristics and degree of influence of various factors (emotional, social, etc.) on decision–making by economic entities, as well as their impact on the market as a whole, a new field of economics — behavioral economics — was institutionalized by economists. In this case, economic entities can be understood as groups of people, a single person, and corporations, enterprises, companies. Behavioral economics extends standard economic theory by taking into account the probability and impact of irrational human behavior on the market.Thanks to the development of behavioral economics, which is based on the achievements of economic theory, psychology, (more management psychology, economic psychology), sociology, philosophy (attitude to work, money, spending, educated family and cultivated society), marketing (advertising, marketing research) and management (management decision–making, alignment and adjustment strategies, etc.), within the framework of market assessment, more objective results can be obtained, which will contribute to the improvement of decisions made.

Intensification in the city centre: Barriers to implementation in Regina, Saskatchewan

AbstractAs cities aim for more sustainable patterns of urbanization, intensification has emerged as a core planning strategy. In 2013, the City of Regina set new intensification targets: absorb 30% of annual population growth through intensification and add 10,000 residents to the city centre by 2035. In the decade since, implementation has been unsuccessful. This study explores the barriers to core area intensification in Regina by engaging with key informants through semi‐structured interviews. Our findings identify the most significant barriers as soft market demand, a city centre that is unappealing as a residential context, insufficient political will, an absence of developers who specialize in core area intensification, and unfavourable development economics. These findings illustrate the unique challenges faced by mid‐size Canadian cites in disrupting entrenched development patterns and driving development towards the downtown.

Theoretical Origins and Implications of the Western Linear Development Models in Contemporary International Relations and Development Economics

Theoretical Origins and Implications of the Western Linear Development Models in Contemporary International Relations and Development Economics

The Theoretical and Methodological Aspects of Economic Growth and Economic Development

The aim of this article is to provide a theoretical and methodological substantiation of the conceptions of economic growth and economic development in the context of their interconnection and differences. This is achieved through the prism of the dialectical approach, synergistic approach, normative approach, cyclical theory of economic development, economics of happiness, and theory of sustainable development. The main reasons why economic growth should not be considered as a process identical to economic development are highlighted. It is substantiated that economic development is a more expansive concept than economic growth, which is a component of economic development. Economic growth is perceived as a desirable outcome of economic activity, while economic development, due to its dialectical nature, is progressive and regressive, involving alternating stages of growth and decline. In cyclical theories, economic growth typically coincides with the upswing phase of constantly repeating cycles of economic development. The analysis indicates that there is no singular methodological approach to determining the level of economic development. In contrast, economic growth is typically assessed based on GNP and other metrics. Development economics employs a range of indicators, including life expectancy, poverty, unemployment, income inequality, education, healthcare, happiness, freedom, and others. From the perspective of sustainable development economics, an excessive focus on quantitative indicators of economic growth without considering the cumulative effects of economic activity can be described as "growth without development." This approach may jeopardize the long-term progress of humanity. It is substantiated that economic growth can be predicted within a certain time period, provided that the economic system maintains relative stability at the same level of development. Conversely, economic development is a challenging to predict process, dependent on random fluctuations that cannot be predicted. Consequently, the modeling of economic development necessitates the convergence of the exact and social sciences, interdisciplinary synthesis, which represents an important area for further research.

Research on Industrial Economics Models in Rapid Development of Digital Economy

Abstract Amidst the rapid evolution of the digital economy, this research positions fuzzy rough set theory at the forefront of industrial economic modeling, acknowledging its profound capability to manage uncertain information. This theory’s analytical precision facilitates a deep dive into the dynamics of industrial economic growth, enabling the refinement of industrial structures for sustainable development. Our empirical investigation into region A’s grain industry showcases a remarkable output growth of 272.88% from 2008 to 2018, with a model accuracy exceeding 95%. Analysis on cost inputs further demonstrates how innovation in science and technology plays a crucial role in cost reduction. By leveraging fuzzy rough set theory, this work contributes significantly to the strategic development of industrial economics, offering a robust methodology for data-driven analysis and forecasting in industrial sectors.

Developments in Risk and Insurance Economics: The Past 50 Years

Developments in Risk and Insurance Economics: The Past 50 Years

ІНСТИТУЦІОНАЛІЗАЦІЯ ПРИВЛАСНЕННЯ ІНФОРМАЦІЙНО-ЦИФРОВОГО ІНТЕЛЕКТУАЛЬНОГО ПРОДУКТУ

General and specific characteristics of evolution of institutionalization of appropriation of informativelydigital intellectual product were severed. General characteristics of institutionalization of appropriation of informativelydigital intellectual product was found via the localization of economic processes in the set of the special objects, operations and procedures. Causes of disparity of institutionalization of appropriation of informatively-digital intellectual product for innovative development of national economics of Ukraine were found out. The criterion of "elements of context of appropriation" for classification of institutionalization of appropriation of informatively-digital intellectual product was offered. The institutes of belonging and acquisition of informatively-digital intellectual product with an availability for government regulation of scales of reproduction of actors of corresponding appropriation were found out. Institutionalization of informatively-digital intellectual product in part of its acquisition was outlined as a result of formalization of: patterns of novelty and originality of intellectual product (in the cluster of creators), legal norms of legitimation of intellectual product (in the cluster of producers), procedures of comparison and estimation of legitimate informatively-digital intellectual product (in the cluster of entrepreneurs). Institutionalization of acquisition of informatively-digital intellectual product was outlined as the result of formalization of: patterns of novelty and originality of intellectual product (in the cluster of creators), legal norms of legitimation of intellectual product (in the cluster of producers), procedures of comparison and estimation of legitimate informatively-digital intellectual product (in the cluster of entrepreneurs). Institutionalization of interaction of actors of belonging of informatively-digital intellectual product was opened as the result of formalization of: rules of competitive approach in relation to consumer characteristics of intellectual product (in the cluster of creators), norms of standard of legitimate intellectual product (in the cluster of producers), rules of the systematic financing of modernization of legitimate intellectual product (in the cluster of entrepreneurs). Practical importance of the paper was represented in an availability for government regulation of scales of reproduction of actors of appropriation of informatively-digital intellectual product.

Transaction Cost Economics Framework Development for Malaysian Housing Development

Housing development is a high-risk, multifaceted and cross-subsidies business. Therefore, it is essential to thoroughly evaluate its viability through comprehensive feasibility studies. It is imperative to carry out meticulous investment appraisals, specifically in the realm of Malaysian housing developments, known for their substantial regulatory expenses that consequently elevate housing costs. Thus, this study aims to demonstrate the development of the transaction cost economics (TCE) framework recommended to unbundle the hidden cost components within the housing development processes. TCE adoption is useful to coordinate and optimise the economic activities within these processes. To overcome the shortcomings of TCE, the RIBA Plan of Work 2013 stages and key tasks are integrated with the housing development stages, processes and cost components to determine the essential economic activities, highlighting the corresponding parties, processes and costs. The TCE framework is established by experts from various sectors, including government agencies, local authorities, professionals and developers. This is achieved through the use of sequential explanatory mixed methods, which are employed to handle the diverse variables and aspects that hinder the nature of the research. Initially, a literature review identified 26 anticipated TCE components. However, data gathering revealed a total of 38 TCE components. The openended questionnaire and semi-structured interview were analysed and triangulated using frequency analysis, content validity ratio analysis and content analysis to ensure all necessary elements were included and unnecessary items removed. Eventually, the findings are applied in the development of the proposed TCE framework for Malaysian housing development. This framework outlines the necessary economic activities along with their associated development costs and TCE categorisation. It can be used to accurately prepare feasibility studies. To conclude, the research outcome improves the efficiency of economic transactions in Malaysian housing development by identifying and organising the various cost components involved, allowing for the optimisation of transaction costs and increased transparency of housing development expenses.

Academic legacy of Professor Sergei V.Valdaytsev

This article shows the main stages of the creative path of St. Petersburg State University professor Sergei Vasilievich Valdaitsev (1951–2012), who made a significant contribution to the creation and development of the domestic school of economics, science and innovation. The features of the Soviet stage of the emergence of scientific studies and the economics of scientific and technological progress, the origins of the formation of the first scientific and technical complexes in the Soviet Union are characterized. The problems of the first studies in this area are shown: the history of science and technology, the subject of the economics of science, the peculiarities of labor in the scientific field, the forms of combining science and production. The contribution of scientists from Leningrad State University in the formation of the national school of economics, science and innovation is noted. The article focuses on the contribution of S.V.Valdaitsev to the transformation of domestic innovation in a market economy. After completing a year-long internship at the Free University of Berlin, Sergei Vasilyevich was able to formulate the basic principles of the transition of domestic scientific studies to a market-oriented approach. In just a few years, the educational process at the Department of Economics of Research and Development of Leningrad State University was restructured: the courses taught began to reflect market realities in the field of science and technology. A process of consulting domestic scientific organizations and high-tech enterprises of the city of Leningrad regarding the transition to market relations was established. Thanks to the efforts of S.V.Valdaytsev, the domestic school quickly caught up with the level of foreign research and began to contribute to the achievements of the global economy of innovative activity. The article reveals the content of the most important scientific works of Sergei Vasilievich, shows his contribution to reforming the educational process in the training of managers of innovative projects and the management system of the innovation process in the Russian Federation.

Quando McCloskey encontra Latour: mudando as perspectivas do debate sobre a Retórica em Economia

ABSTRACT This paper rescues Deirdre McCloskey’s ideas about Rhetoric in Economics and some issues left out in subsequent discussions. There is a parallel between the ideas of McCloskey and Bruno Latour, and the complementarities of their perspectives are very relevant for the development of Economics. Some reflections are here offered to improve the practice of Economics, which are related to the social constructions of facts in the field, to the internalization of political aspects, and to the importance of alternating between fact and fiction in a dynamic that does not result in a zero-sum game, underlining the characteristic of Economics as being inherently rhetorical.

МАТЕМАТИЧЕСКОЕ МОДЕЛИРОВАНИЕ В ЭКОНОМИЧЕСКОМ ПРОЦЕССЕ

The article presents an analysis of mathematical models that allow for the assessment and forecasting of economic processes. The purpose of the work is to analyze existing models taking into account current economic conditions and potential development. The research uses methods of econometrics modeling in the analysis of socio-economic processes and their interactions. Attention is paid to the importance of mathematical modeling and improving the accuracy of economic forecasts necessary for making effective management decisions. The authors consider specific models and techniques that are applicable in economic sectors aimed at solving practical problems. The peculiarity of the research is that it integrates achievements in the field of mathematical and computer modeling into economic research. This approach makes it possible to analyze the current state of economic systems and predict their development. Thus, the research contributes to the development of economics by providing effective tools for managing and adapting economic systems in modern conditions.

ТРУД И ЭКОНОМИЧЕСКИЕ ЦИКЛЫ – СИСТЕМНОЕ ВИДЕНИЕ

The subject of the study is the labor crisis as a permanent phenomenon of development economics, which is updated during periods of large-scale innovative transformations. The purpose of the paper is to develop a systematic understanding of the labor crisis. The relevance of the study is due to the aggravation of the labor crisis in the context of the emerging change in the technological structure. The scientific novelty lies in the development of a systematic understanding of the labor crisis and its socio-economic consequences. The research methods are system analysis, factor analysis, methods of expert assessments, and public opinion polls. The theoretical significance of the study is associated with determining the origins of the labor crisis and its substantive characteristics. The practical significance of the paper lies in the application of the research results to develop management decisions to quickly overcome the labor crisis. Of practical interest are recommendations for improving the system of professional training and retraining, and improving incentive models to achieve an increase in the level of personnel competence in the context of accelerating innovative development.

THE DEVELOPMENT OF A DEVELOPMENT ECONOMICS TEXTBOOK TO IMPROVE THE QUALITY OF LEARNING IN THE DEVELOPMENT ECONOMICS COURSE IN THE ECONOMIC EDUCATION STUDY PROGRAM

Improving the quality of learning should be pursued continuously, covering various factors that support improving student learning outcomes. Study Materials or Learning Materials are one of the dominant factors in improving the quality of learning. (Guide to Preparing Higher Education Curriculum in the Industrial Era 4.0 to support MBKM, 2020). Learning materials include reference books, monographs, diktats, modules, videos, practical instructions, textbooks, and other equivalent learning resources. As explained in the MKBM for the Economic Education Study Program, there are 23 courses in the field of science and expertise and 8 basic courses, and in general, they are not supported by textbooks that follow the Semester Learning Plan (SLP) of the courses. These conditions make it urgent that textbooks for each course are necessary to improve the quality of the learning process and outcomes of the course concerned, especially in efforts to achieve graduate learning outcomes (GLO). This research aims to develop a Development Economics textbook to support adequate and appropriate learning of Development Economics courses. The research method used is the research and development (Research and Development) ADDIE development model with five stages, namely analysis (analysis stage), design (design stage), development (development stage), implementation (implementation stage), and evaluation (evaluation stage). The targeted output is to produce a Development Economics textbook that has an ISBN and Intellectual Property Rights (IPR).

Kontribusi Pemikiran Ekonomi Islam dalam Sejarah Ekonomi Dunia

In this research, we explore Islamic economics in world economic history. The main focus of this research is analyzing how the principles of Islamic economics have contributed and played a role in shaping global economic development. Through literature studies starting from basic concepts of Islamic economic thought such as sharia, zakat, to financial principles in Islamic teachings, the development of Islamic economics. The results of this research pay attention to the positive impact of Islamic economics in forming a just economic system. Islamic economic thought is identified as a major player in forming an economic paradigm that emphasizes social responsibility, equitable distribution of wealth, and environmental sustainability.

ANALISIS PERBEDAAN PARADIGMA PEMBANGUNAN EKONOMI KONVENSIONAL DENGAN EKONOMI ISLAM

This research has the title analysis of the sharia economic development paradigm and conventional economic development. This research uses a library study of the differences between the sharia economic development paradigm and conventional economics. The method used is the descriptive method, where this analytical method examines a group of people, objects, conditions, events in the present. Economics studies behavior that has no boundaries which originates from mutually agreed rules, while sharia economics is limited by sharia provisions which are sourced only from the Koran and Hadith. a paradigm that has an important role in the concept and implementation of development economics. Conventional economics only pays attention to changes that occur in economic variables, while sharia economics ignores economic variables and avoids things that cannot be justified in sharia.Keywords: Conventional Economics; Islamic Economics; Paradigm

Hacking Economic Development

This paper explores the potential use of growth hacking as a prescriptive tool in development economics from a system dynamics perspective. Growth hacking is a popular business method, and it stands as the umbrella term for attaining exponential business growth by creating and harnessing non-linear dynamics by forming virtuous cycles with creative ideas, field experimentation, and fast feedback loops. In this sense, growth hacking is inductive, non-linear, and empirical, contrasting the economic literature's deductive, linear, and abstract frameworks. Given this rationale, growth hacking can yield prescriptive and actionable insights that create virtuous cycles, avoid vicious cycles, and regulate linear economic development. Also, this perspective led to a novel definition of the quality of growth. As an extension of this definition, three development archetypes are stylized as “active,” “passive,” and “sustaining” based on reflexivity characteristics of the underlying economic subsystems.

Urgensi Literasi Ekonomi Syariah Dalam Moderasi Beragama

The National Islamic Economic Literacy Index is 16.3% in 2021. As a concrete form of the above description, the existence of this conflict is due to other aspects such as political, social and economic factors, but an understanding of religion cannot be separated in minimizing this conflict. Sentiment from the emergence of various different religious understandings also triggers conflicts in society when there is a clash of religion, culture, social, economy and politics. Religious moderation is needed in the process of community literacy so that literacy has a positive impact on Islamic Economics. The concept and practice of Islamic Economics still requires development and is not free from deficiencies that make it not fully in accordance with Islamic law. Islamic Higher Education has a big role in the development of Islamic Economics. Education, research and service activities as part of the Tri Dharma of Higher Education make a very large contribution. Many findings and ideas about Islamic Economics were born in universities. Apart from that, there are also many new experts and practitioners of Islamic Economics who have emerged from universities. Economic justice in Indonesia can be realized by the spread of the Islamic economic system which has a moderate nature when compared to the capitalist system (dominance of capital owners) or socialist (state dominance). People who have good Islamic economic literacy (well literature) will behave in a moderate manner, namely accepting the idea of Islamic economics with its various shortcomings while still trying to push towards a better direction.

Peace and Value Education Policy Perspectives in The Context Of India

Education must be autonomous for development. Cultural and ethical aspects of education are often overlooked due to the focus on economics in capitalist development. A lack of awareness of these realities impacts society significantly. Bringing in the behavior scale is necessary. Inculcate the idea that education for development fosters a commitment to global solidarity, peace, justice, and environmental awareness in youth. It aims to enable children and youth to contribute to positive development locally and worldwide. Based on the foregoing realities, peace and value education are pioneering initiatives that require vision and determination. A brief attempt may diminish its effectiveness and increase cynicism. Humans can become sophisticated destroyers of themselves and life on earth through education. Education alone is essential for citizens to live peacefully and with dignity. In this research, we emphasize the significance of value and peace education in policy formulation and implementation. Libraries will be used in this two-part research. The first section of this study discussed the significance of peace and value education at the national level. The second portion contains recommendations and suggestions for implementing peace and value education in Indian policy and related publications.