Factor Of Economic Growth Research Articles

Revitalizing Agricultural Economy Through Rural E-Commerce? Experience from China’s Revolutionary Old Areas

Many of the world’s less developed regions may not be able to improve the well-being of rural residents through agricultural revitalization because of their remoteness from agricultural markets. Using the county-level data set of China’s underdeveloped old revolutionary base areas from 2010 to 2021, this paper takes the policy planning of rural e-commerce as event intervention to investigate the driving role of the digital product market on agricultural economic development. Empirical results show that rural e-commerce planning policy has significantly promoted the agricultural added value of the pilot counties, and the digital market is the key driving factor of the agricultural economic growth in these underdeveloped areas. Both food production and livestock output have increased significantly as a result of e-commerce policies. Considering the potential bias of the bidirectional fixed effect estimators of staggered differences-in-differences (DID), this study uses heterogeneous robust estimators to verify the growth effect of the agricultural economy. Specifically, digital agricultural markets have significantly promoted agricultural mechanization and significantly improved agricultural total factor productivity. Moreover, empirical evidence does not support transmission mechanisms for off-farm employment and agricultural entrepreneurship. The findings can help less developed countries and regions develop policies to expand the agricultural markets with digital dividends, thereby promoting the development of the agricultural economy.

Analysis of Factors Affecting the Effectiveness of Road Maintenance in Pidie Regency

Land transportation infrastructure as a medium of accessibility for various community needs that have an important role in economic growth, socio-cultural, political, and other factors of a region or area. In order for road infrastructure to function optimally in improving these factors, several important aspects need to be considered, including having user safety and comfort, environmentally friendly. Land transportation infrastructure is not only a means of mobility but also a tool to achieve better social and economic welfare for the entire community. Given the strategic role of land transportation infrastructure, namely roads, it is very necessary to have security and comfort values so that the efficiency and effectiveness of the infrastructure are indicators to be evaluated. The effectiveness and efficiency of roads are greatly influenced by many factors including road conditions and age, land use, social, economic and policy. community and related parties. The purpose of this study is to analyze the dominant factors that influence the effectiveness of road maintenance in Pidie district. This study uses a qualitative approach to analyze data obtained from respondents which are primary data and the use of SPSS as an analysis tool so that it becomes numerical. The results obtained for the instrument items used are reliable and trustworthy, this is based on the Cronbach's Alpha (CA) value obtained in the range of 0.50 to 0.70. Based on the results and discussions obtained, it can be concluded that all proposed instrument items provide a significant contribution to determining the effectiveness of road maintenance decisions in Pidie Regency with the highest influence instrument factors being economic instruments and road conditions. The coefficient value obtained for the two factors is 5.571 for the economic instrument and followed in second place, namely the road condition instrument item with a coefficient of 3.603.

Free trade and relative poverty nexus: Revisiting an age-old debate using a panel fixed approach

As trade volume has exponentially increased over the past decades, we investigated the impact of free trade on relative poverty using data from 123 countries between 1995 and 2018. In this investigation, we used three variables for free trade, reflecting three aspects of free trade, trade openness, trade barrier or trade freedom, and trade policy, and two variables for relative poverty; the income share of the bottom 10% and the bottom 20%. When economic growth, polity and socioeconomic factors are controlled for, we found that (1) trade openness hurts the poor, increasing relative poverty regardless of industrialization, (2) trade freedom benefits the poor, decreasing relative poverty although the poor in industrial countries are hurt by trade freedom, and (3) WTO membership as a proxy for a trade policy is not statistically significant to the poor, although it seems beneficial to the poor. Given these results, we conclude that free trade lowers relative poverty, implying that the income shares of the bottoms 10% and 20% can increase more than by 0.9%p and 1.5%p, respectively, as free trade is promoted.

The synergy of renewable energy consumption, green technology, and environmental quality: Designing sustainable development goals policies

AbstractGreen technology (GT) and the utilization of renewable energy (RE) are widely acknowledged as a catalyst for energy efficiency, economic growth, and a tool for combating environmental degradation. Although various studies have examined the ecological repercussions of these two improvements, they have primarily used traditional pollution indicators (namely, carbon emissions and ecological footprint) and ignored nations with the highest cleaner energy adoption. To bridge this gap, the present research seeks to analyze the relationship between GT, RE consumption, economic growth, trade, and load capacity factor in the top‐10 renewable economies. In addition to environmental pollution indicators, the study utilizes the load capacity factor as a novel proxy for environmental quality and investigates the load capacity curve hypothesis using the Cross‐sectional‐autoregressive distributed lag model from 1990 to 2021. According to the empirical findings, all explanatory variables have a significant long‐term effect on the load capacity. More precisely, GT and RE consumption contribute to the sustainability of the ecosystem, while trade increases the ecological deficit. Furthermore, the findings do not support the validity of the load capacity curve hypothesis, implying that the environmental restorative benefits of economic well‐being may not manifest in the latter stages of economic growth. Given these findings, policymakers in the top‐10 renewable economies should seize the environmental prospects offered by GT and RE and update trade and growth policies in a way that promotes biocapacity while simultaneously reducing the ecological footprint to reach the long‐term sustainable development goals (SDGs), particularly SDGs 7 and 13.

Risk-based regulation and supervision of second-tier banks: experience of EU countries

The aim of the study was to determine the impact of increased capital adequacy standards of second-tier banks on their performance. The study is based on second-tier banks of EU member states, as these countries are the first to implement the Basel Committee recommendations, so their experience should be studied and taken into account when building risk-based regulation of second-tier banks of Ukraine and Kazakhstan. The study covers the period of 2009–2022, as the Basel III regulations were adopted after 2008, and they began to operate for the second-tier banks of EU member states in 2013. The study was conducted using econometric modelling with an analysis of the dependence of banking indicators on the capital structure established by Basel III. Functional interrelationships of the dependence of Net Interest Income, Profit, Return on Assets, Return on Equity, Risk Costs to Operating Income were tested. The impact of capital adequacy requirements on the performance of second-tier banks was determined: capital adequacy requirements have a positive impact on net interest income and profit of second-tier banks. The obtained results can be used to substantiate increasing capital adequacy requirements to increase the reliability of the banking system as an element in the system of factors of economic growth of the national economy.

The Role of Education in Economic Development: A Comparative Study of Nigeria and Kenya.

Education is a transforming factor in economic growth because it gives people the information and skills that spur innovation, productivity, and general social advancement. Two of the biggest economies in Africa, Nigeria and Kenya, have made considerable changes to their educational institutions to promote economic expansion. But even with these reforms, obstacles including poor infrastructure, restricted access, and insufficient government money still stand in the way of development. This study examines how education affects economic growth in Kenya and Nigeria, paying particular attention to how the distinct political, cultural, and historical backgrounds of each nation affect educational achievements. This study highlights opportunities for improvement while identifying important educational policies and initiatives that have successfully supported economic growth through a comparative analysis. It considers the larger implications of education as an instrument for national transformation, drawing on theological viewpoints, and makes the case that real growth must be in line with moral and ethical principles. In the end, the research suggests a more integrated strategy, stressing that education may act as a catalyst for long-term, sustainable economic growth when it is in line with spiritual principles.

Некоторые основные проблемы экономического развития современной России

The work provides assessments of trends and factors of economic growth in modern Russia. The research was carried out on the basis of constructing econometric models using Rosstat data. Research results show that the main trends in economic development consisted of a decrease in the rate of economic growth and the rate of growth in labor productivity. The main factor of economic growth was the growth of labor productivity. There were no significant trends in changes in the growth rate of employment and the growth rate of accumulated fixed capital. The growth in labor productivity was achieved, to a large extent, due to an increase in the capital intensity of production. The basis for economic development was largely an ineffective archaic mechanism, the mechanism for the formation of an industrial economy. Employment growth had a negative impact on economic growth rates. The results obtained indicate that the most important factors of competitiveness and economic growth - human capital and new technologies - are insufficiently and ineffectively used. They did not ensure an increase in labor productivity due to investing in outdated technologies, attracting workers who do not have high qualifications, which is due to a decline in the quality of education and a reduction in the scale of scientific research and development. Education has largely lost its function of forming human capital. The research and development system does not sufficiently serve as a source of new technologies. The identified problems are obviously due to shortcomings in economic policy, shortcomings in financial management and investment processes, insufficient funding and ineffective management of the education system, research and development.

Трансформация структуры государственного долга по составу кредиторов в странах Центральной Азии и Южного Кавказа

The rapid growth of public debt in developing countries in recent years and the increasing risks associated with this process emphasize the importance of research in this area. The article examines one of the key aspects of public debt management — the structure of creditors’ debt portfolio. The object of the study is the public debt of four countries of Central Asia and three countries of the South Caucasus. The states of this region are important foreign economic partners of Russia, their contribution to mutual trade and realization of joint projects is growing. Their role in the global and regional economy is also expanding, including participation in major transport and logistics projects designed to increase the connectivity of Eurasia. The study is based on the data of international organizations on the total volume of public debt, debt to individual external creditors and the dynamics of macroeconomic indicators. The article examines changes in the structure of the main groups of creditors for each country over three long-term periods and analyzes similarities and differences in the observed structural shifts. It also decomposes the indicator of public debt dynamics and estimates the contribution of the economic growth factor and the effects of changes in countries’ debt to certain groups of creditors. The study identified the following key trends in public debt structural changes: 1) the declining role of bilateral loans from developed and developing countries since the 2000s; 2) the continued strong influence of debt raised from international financial organizations and development banks in most countries throughout the period under study; 3) in a number of countries, a gradual increase in market sources of debt financing (domestic and Eurobonds); the increasing role of loans from China — in the Kyrgyz Republic and the Republic of Tajikistan, etc. The study identifies reasons for these structural changes, and concludes with a discussion of the risks associated with the observed shifts in the structure of public debt.

Issues of efficiency of financing the agricultural sector

In many economically developed countries, state support, financial investments in the agricultural industry, increasing productivity and profitability, ensuring the availability of food are the main factors of economic growth, first of all, employment of the population. Purpose - the main problems of financing the agro-industrial complex of the republic and scientific approaches to their solution are considered. Methods - comparative analysis, synthesis, monographic, logical evaluation to determine the mechanisms affecting the effectiveness of state aid and investment. Results - the article analyzes the sources of budgetary allocation of the agrarian sector. The significance of the implementation of targeted programs aimed at improving the quality of life of rural residents through price, tax, leasing mechanisms, soft loans and subsidies is shown. The study presents information for 2018-2022, supplemented by the data of the National Project on the development of agro-industrial complex of the Republic of Kazakhstan for 2021-2025, including the total volume of agro-industrial production and the size of capital investments. The study notes the need to increase the volume of domestic processing industry, allowing agricultural producers to expand the market for products, create conditions for new jobs, attract investment, and contribute to economic and social stability. Conclusions - specialization of rural areas, development of technical map and related organization of production in promising villages and district centers, increase in exports, distribution of online services are strategic directions of development of food complex, economic activity of agroformations. The use of external resources gives an opportunity to improve financial results, and farms - to increase income from core activities. When planning large investments in agricultural projects, one of the key criteria is the choice of capital structure to support the investment process.

Теория эндогенного роста: исследование исторических предпосылок и ретроспективных особенностей эволюции в рамках отдельных макроэкономических парадигм и моделей экономического роста

To date, the main research on macroeconomic theory identifies five main factors of economic growth that will be decisive in the coming decades: population and human capital; capital and capital markets; globalization and trade; technology and innovation, as well as new frontiers for productivity growth. It remains an undeniable fact that innovations stimulate modern economic growth. At the same time, in the process of its evolution, any macroeconomic paradigm faces certain limitations associated with changes in the socio-economic system of society, and as a result, there is a need to rethink what are the historical prerequisites and retrospective features of the evolution of the endogenous macroeconomic theory of economic growth. The purpose of the article is to study the nature of similarities and contradictions, and the nature of the mutual influence of various macroeconomic paradigms within the framework of the evolution of the endogenous macroeconomic theory of economic growth; the roles of generalizing and separating factors that cause the emergence and development of individual elements of this macroeconomic paradigm. The scientific novelty of the article is presented by the author’s new critical view of the study of historical prerequisites and retrospective features of the evolution of individual macroeconomic theories and models of economic growth, especially the endogenous growth model, in order to show that the nature of innovation itself has an ambiguous assessment from the side of macroeconomic science.

Stock Market Development and Economic Growth: The Case of Kazakhstan

The purpose of the article. The relationship between economic growth and financial development has long been widely discussed in scientific circles. Most empirical research has led to the clear conclusion that financial markets stimulate economic development. However, in the case of financial markets in developing countries, this conclusion is not so obvious. The aim of this study is to empirically verify the relationship between economic growth and the development of the stock market (Kazakhstan Stock Exchange). Methodology. Empirical verification of the strength and shape of the cause-and-effect relationship between real GDP growth and independent predictors will be carried out using classic linear regression models with many independent variables. Results of the research. The results of empirical verification of the strength and shape of the cause-and-effect relationship between the growth of real GDP and independent predictors indicate that the development of the stock market has a positive impact on the growth of the country's real GDP but is not the basic factor of Kazakhstan's economic growth.

Specifics of interaction between the factors of economic growth in the Murmansk Oblast and the Russian Federation as a whole

Specifics of interaction between the factors of economic growth in the Murmansk Oblast and the Russian Federation as a whole

The Dynamics Model of Cross-Regional to Enhance Economic Growth: New Empirical Evidence from Indonesia

Abstract Economic growth growth is crucial to improve community welfare in the long term. Although Indonesia’s economic growth is on an upward trend, Indonesia must remain vigilant in its relationship with the global world due to the rapidly changing and highly uncertain dynamics. Indonesia’s economic growth is also inseparable from the influence of various provinces’ economic growth, which varies due to the economic dynamics between regions. These dynamics can influence the region’s contribution to national economic growth. Therefore, identifying the important role of the determining factors of economic growth and appropriate policies in dealing with economic dynamics between regions is crucial because sustainable economic growth is also essential for improving community welfare. This study examines the determinants of Indonesia’s economic growth from a regional economic perspective, using a Dynamic Panel Data analysis model with three estimation models. The first model focuses on the primary variables of technological progress, population, and investment. The second model adds the human capital variable, while the third model further incorporates the variables of open economy, economic structure changes, and income inequality. The study utilizes data from the Indonesian Central Statistics Agency, covering 27 provinces from 2015 to 2022. The results indicate that increased technological progress, population, investment, human resources, economic openness, and economic structure changes can increase economic growth, while inequality of income harms economic growth. This research has implications that in creating determinant conditions for conducive economic growth, it needs to be carried out evenly in all provinces in Indonesia.

SPECIFICITY OF THE CREATION OF THE ECONOMIC AND LEGAL MECHANISM FOR THE FORMATION OF A GREEN ECONOMY

The article is devoted to the study of the issue of the formation of the green economy as an important direction of the development of society. The article identifies the main problems on the way to the development of the green economy. So, in particular, they include the lack of a clear, comprehensive economic and legal mechanism that would take into account the peculiarities of the national economy, legal system and environmental policy. The purpose of the article is to determine the key aspects of creating an economic and legal mechanism for the formation of a green economy. It was determined that an effective economic and legal mechanism for the formation of a green economy should be based on the harmonization of economic and legal aspects, as well as a comprehensive approach to its construction. The authors reveal the main economic aspects of the formation of the green economy (financing and investments, pricing and environmental taxes, innovation stimulation). It has been established that legislative initiatives, regulatory bodies and control, international agreements and standards, as well as national strategies and programs should be included in the legal aspects of the formation of a green economy. It was noted that the main lever for achieving success in the process of establishment and development of the green economy is the establishment of cooperation between state bodies, the private sector and the public. It was determined that attracting financial resources, developing effective legislation, control and monitoring, as well as international cooperation are key elements for achieving sustainable development and ensuring environmental safety. The authors concluded that the prospects for the formation of a green economy in Ukraine are quite favorable, provided that an integrated approach to the solution of environmental problems and the creation of an economic and legal mechanism for the formation of a green economy are provided. The implementation of the green economy will not only improve the quality of life and preserve the environment, but will also become an important factor in economic growth and increasing the country's competitiveness at the international level.

Comparative Analysis of Water Wells and Tap Water: Case Study from Lebanon, Baalbeck Region

Water deficit is a fundamental factor in public health and economic growth. Water supply and population growth are directly linked to water demand. The physio-chemistry and microbiology analysis of water is utmost significance in dietary requirements. Drinking water has the main concern especially it affects food security. This study includes a number of representative sites where 24 water samples (from wells, reservoirs and tap water) were analysed. These sites are located in the western villages of Baalbeck, the main city of the Bekaa Plain in Lebanon where the analysed water is used mainly for domestic needs and for irrigation. This study investigates the physiochemical and microbiological properties. Among the selected sites, Hawsh Barada site shows a strong contamination by nitrate. At the Nabi Rashaded (tap), Beit Shema and Bednayel (borehole and tap), contamination above the norm by zinc ion was noted. From a microbiological point of view, Hawsh barada, Nabi-Rashadeh, Hawsh-bay, and Beit shema are markedly polluted and do not meet the standard for drinking water. Hence, water quality in Hawsh barada, Nabi-Rashadeh, Hawsh-bay, Beit shema and Bednayel are not suitable for drinking, and this must be informed to decision makers who can act implementing environmental controls for health protection in the studied region.

Impact of Natural, Physical and Human Capital Formation on Economic Growth in Pakistan: An ARDL Analysis

Attaining sustained economic growth is one of the key objectives of any country to improve the well-being of its people and strengthen its economic position in the world. Capital formation is one of the crucial factors of economic growth as it promotes productivity, efficiency, and higher output growth. Therefore, this paper intends to analyze the impact of natural, physical, and human capital formation on economic growth in Pakistan by employing annual time series data from 1971 to 2020. Different econometric approaches such as unit root test, bound test, and ARDL model are utilized to estimate the results. The study found that labor force participation rate, physical capital, human capital, natural capital, FDI, and financial development are positively associated with economic growth in Pakistan. Instead of FDI, all the variables are found to be significantly related to economic growth in Pakistan. Considering the study’s findings, it is concluded that capital formation is essential to progress the economy of Pakistan, so policymakers must concentrate on investing in physical infrastructure, improvement in health and educational facilities, and efficient utilization of natural resources to promote economic growth.

The Impact of Interest Rate Changes on Consumer Spending

This research was justified by the need to establish the impact of shifts in interest rates on consumption expenditures, which is a key factor in economic growth. Thus, the research’s objectives are to explore the influence of monetary policy actions performed by central banks in the context of their impact on consumers. It makes it possible for any given policymaker to work out measures which are favourable for both economic growth and stability. Further, these insights are useful in deciding the future business strategy since they give the companies an idea of what to expect in the market. In general, the study aims at expanding the existing knowledge concerning the macroeconomic consequences of interest rate volatility.

Role of oil production in the economic development of Kazakhstan

The article examines the role of the oil and gas industry in the economic development of Kazakhstan. The authors analyze the impact of the oil and gas sector on the main indicators of the country's economy. Based on data and statistics, the authors of the article consider the importance of the oil and gas sector as the main driving factor of economic growth in Kazakhstan. The challenges and opportunities associated with the development of this industry are also considered, including issues of reducing dependence on oil revenues and economic diversification. In general, the article is an analytical review of the current situation and prospects for the development of the oil and gas industry in Kazakhstan.

Resilience of developing economies to external shocks: empirical evidence from CEMAC countries

PurposeThis study aims to investigate the effects of three significant events – the 1994 CFA currency depreciation, the 2008 Global Financial Crisis (GFC), and instances of political coups – on the relationships between FDI inflow, economic growth, and governance within the Central African Economic and Monetary Community (CEMAC) countries. It seeks to evaluate how these events influence the linkages between FDI, economic growth, and governance, to aid the understanding of responses to external shocks and internal political disruptions.Design/methodology/approachThe study employs a panel Vector Autoregression (VAR) analysis using data from 1990 to 2019 by exploring the dynamic relationships among FDI inflow, economic growth, and aggregate governance indicators within the CEMAC sub-region. The analysis was conducted utilizing the EViews software package, facilitating robust examination through the introduction of the Bayesian VAR to facilitate the interpretation of parameters and the data.FindingsThe results indicate that, contrary to initial hypotheses, growth and governance do not emerge as determinants for attracting FDI within the CEMAC sub-region. However, governance stands out as a crucial determining factor for economic growth. Furthermore, the study suggests that the 1994 CFA currency depreciation, the 2008 GFC, and instances of political coups did not significantly impact FDI, growth, and governance within these countries. Despite the potential vulnerability of the CEMAC countries to external shocks, the effects of these events on the dynamics of FDI, economic growth, and governance were not apparent. Notably, political instability, as evidenced by coups, emerges as a significant factor shaping the interactions between FDI, growth, and governance in CEMAC countries.Research limitations/implicationsThese findings have significant implications for policymakers and stakeholders in the CEMAC countries. Understanding that governance has a central role in driving economic growth places great importance of prioritizing governance reforms to foster sustainable development. Moreover, the identification of political instability as a key determinant affecting the relationships between FDI, growth, and governance emphasizes the need for political stability and effective governance structures to attract and sustain FDI inflows as well as foster economic growth.Originality/valueThis study contributes to the existing literature by offering insights into the linkages between FDI, economic growth, governance, and external shocks within the CEMAC sub-region. By examining the specific impacts of the 1994 CFA currency depreciation, the 2008 GFC, and political coups on these dynamics, the study provides original perspectives on the resilience of CEMAC countries to external and internal disruptions.

Performance indicators of the red grouper (Epinephelus morio) fishery along the Yucatan coast, Southeast Mexico

This study assesses the Fishery Performance Indicators (FPI) of the red grouper fishery, currently overexploited, aiming to identify factors for sustainable management and economic growth. Evaluation spans commercial and recreational fishing activities and encompasses output indicators focusing on ecology, economy, and community, through 68 metrics, including measures related to stock abundance, ecosystem impacts (e.g., habitat degradation, bycatch rates), and social aspects (e.g., community participation in management). Input indicators assess enabling conditions such as diseases, water quality, air pollution, biodiversity, etc. Scoring involved reviewing fishery data and information from various sources including scientific literature, technical reports from workshops and meetings, journalistic notes, databases, and unpublished data; with each metric scored according to its specific system. The red grouper fishery exhibits strengths in harvest and community involvement but grapples with stock and ecological concerns. Medium-size fleet perform adequately, yet challenges arise from aging vessels and market fluctuations. Artisanal fleet encounter issues like illegal fishing and economic struggles, while recreational fishing faces stock and ecological worries. Persistent environmental and governance challenges underscore deficiencies in management practices and fishing markets. Enhancing the red grouper fishery requires fair pricing, effective stock management, and sustainability efforts in co-management, fisheries management, and post-harvest processes. Improving gear selectivity is crucial for effective stock management, involving minimizing catches of juvenile red grouper and incidental species. Insufficient bargaining power results in an unfair market and disadvantages for fishermen, leading to losses. To address these issues, it is essential to diversify market channels, stabilize prices, and advocate for fair pricing mechanisms. Empowering fishermen through collective bargaining and regulating credit agreements can ensure fairness. Additionally, policy interventions are necessary to support fishermen and foster a more equitable industry.