Factor In Economic Development Research Articles

An empirical study on the determinants of air trade – The case of South Korea and Chinese provinces

The air transportation industry is becoming an increasingly important growth factor for economic development as trade and logistics exchanges between South Korea and China continue to grow. The main objective of this article is to examine the factors that influence air trade between South Korea and 31 Chinese provinces from 2010 to 2019, with the aim of promoting the expansion of air trade between the two countries. The findings suggest that, with the exception of South Korea’s exports to the 31 Chinese provinces, the gross regional domestic product has a significantly positive effect. The effects of distance and personal income on total air trade, air imports and exports are notably negative and positive respectively. Furthermore, foreign direct investment has a positive impact only when South Korea exports to China. The study concludes that, enhancing the volume of air traffic between South Korea and China can be accomplished by directing investments towards inland areas that possess trade-potential, expanding airport infrastructure, and developing regional economic growth. Furthermore, it is suggested that emerging domestic markets should be under close observation due to the changes in the trade structure after the COVID 19.

Influence of Family Involvement Towards Financial Access in MSMES — A Perspective

The MSME sector is a prime factor in the national economic development of the world as it plays a strategic role in opening employment and new business and contributing greatly to encouraging the increase of GDP. A few pieces of research show that MSMEs’ sustainability and resilience are continuously vulnerable to risk. The key dimension for MSMEs is their financial sustainability. It relies on MSMEs’ ability to depend on oneself-operations and implies that the MSME should make a profit from its operations. Financial resources help to sustain and survive the development of Micro, Small, and Medium Enterprises (MSMEs). Access to the financial source is very important in the entrepreneurial development and economic growth of a country. Most importantly, it must be timely. The focus of this study is on the influence of family involvement on financial access in MSMEs, as the success of any business depends upon their involvement and support. Their contribution motivates entrepreneurial initiatives to the next level of advancement. This study surveyed on 80 MSMEs from different sectors in Kerala. Data were collected from 80 entrepreneurs. The developed conceptual framework was tested using the Structured Equation Model (SEM) and analysed through AMOS. SPSS 23.0 version software was used to analyse the data collected through a structured questionnaire. Most of the firms operated under the complete influence of family were more productive, competitive, and innovative and gave a good financial accessibility Cronbach’s score of 0.281. Such MSMEs had perfect business sustainability blended with financial stability. Moreover, the firms operated under the family influence outperformed their non-family counterparts. This study highlights the importance of family involvement in financial accessibility and their contribution to the success of any MSMEs in Kerala.

Evaluation of the Groundwater Ecological Water Requirement in the Southeast Margin of Otindag Sandy Land Based on Allowable Groundwater Depth Drawdown

Water resources in arid and semi-arid areas are limiting factors for ecosystem health and economic development. Therefore, an accurate and reasonable assessment of ecological water demand is crucial for efficient water resource utilization. In this study, we used vegetation coverage and groundwater depth to assess the state of vegetation growth in the Zhenglanqi, located at the southeastern edge of Otindag Sandy Land. Our results indicate the existence of a statistical power index function between vegetation coverage and groundwater depth scatter plots, where even minor changes in groundwater depth can have a significant impact on vegetation growth. In order to quantitatively assess the impact of subsidence on vegetation ecology, we propose a maximum allowable subsidence level under conditions that maintain normal ecological conditions, based on the initial subsidence depth and ecological guarantee rate. Our findings suggest that regions with shallower initial groundwater depths are more sensitive to changes in their environment than regions with deeper groundwater depths. The total groundwater consumption in the study area was 83 million cubic meters while maintaining an ecological guarantee rate of 80%; thus, while ensuring normal environmental conditions, human exploitation of shallow groundwater accounts for only 16 percent.

Nepotism as a limiting factor of economic development

Nepotism as a limiting factor of economic development

Water Charge and Conservation of Natural Areas: An Ex‐Ante Assessment of a Policy Proposal for the Mantiqueira Region, Brazil

AbstractWater plays a central role in several socioeconomic and environmental nexuses. Faced with various anthropogenic pressures that act as water scarcity drivers and knowing that the unavailability of water can be a limiting factor for economic development, there is an urgent need for the design and evaluation of economic instruments that help in the management of water resources. This article presents a proposal and assessment for a Pigouvian water charge instrument. The instrument suggests imposing a charge based on the amount of water consumed, targeting the agriculture, livestock, forest extraction, and aquaculture sectors. The revenue generated from this charge could be utilized to fund reforestation initiatives and support government expenditures, thereby creating both environmental and economic advantages. Based on a calibrated static computable general equilibrium economic model for the Brazilian Mantiqueira region, it was possible to estimate that a water charge policy at a rate of R$ 0.10/m3 (US$ 0.026/m3) could lead to an increase in the Brazilian GDP in the benchmark year by US$ 10.7 million. Economic benefits could also be verified at the regional level, especially in those areas where there are water‐intensive economic activities. On the environmental side, the water charge could incentivize actions capable of recovering approximately 80 km2 of natural areas.

Transformation of Creative Economy Based on Home Industry to Encourage Family Resilience and Increase Community Income

This research aims to explain the creative economic development based on home industry carried out by EcoNatural Society Foundation, explain its impact on community income, and supporting factors in creative economic development at EcoNatural Society Foundation. The method used is descriptive qualitative research, the way data is collected is through observation, interviews, and documentation of the object of research. The data analysis technique uses descriptive analysis. The results showed (1) the development of a home industry-based creative economy carried out by the EcoNatural Society Foundation through the formation of household business groups, (2) an increase in the income of people participating in household business groups, (3) internal and external factors that support the development carried out by the EcoNatural Society Foundation in Selayar Islands Regency.

Impact of the rule of law, corruption and terrorism on tourism: Empirical evidence from Mediterranean countries

Research background: Tourism sector is considered as a driving force of economic development and understanding factors that deter the flow of tourists and hinder its development, which is essential for all actors involved in this industry. Purpose of the article: The purpose of the article is to investigate the impact of rule of law, corruption, and terrorism on tourism in 14 coastal states of the Mediterranean Sea based on the United Nations classification. Methods: The short and long-run relationships among the rule of law, corruption, terrorism and tourism are respectively analyzed through Dumitrescu and Hurlin causality test and LM bootstrap cointegration test taking notice of the presence of heterogeneity and cross-sectional dependence. Findings & value added: The causality analysis reveals that control of corruption has a significant influence on tourism only in the short run. The cointegration analysis uncovers that terrorism negatively affects the tourism in Albania, Algeria, Egypt, and Tunisia, but improvements in corruption also positively affect the tourism in Albania, Algeria, Bosnia and Herzegovina, Greece and Italy. Last, the rule of law has a positive impact on tourism in Egypt, Greece, and Israel. In this context, the rule of law can also be a key factor for tourism development via combat with corruption and terrorism. Based on some unique characteristics, the Mediterranean region has consolidated its position as the world's leading tourist destination, but to maintain this competitive position, it is crucial to recognize and adopt strategies that respond to all key challenges faced by this sector.

The assessment of tourist resources in Ukraine in the conditions of war


 
 
 The article points out the necessity of researching the problems of assessment tourist resources in the conditions of war. Possessing a significant potential of tourist resources, Ukraine now needs to develop a comprehensive strategy for the preservation, restoration and modernization of tourist resources. Tourism is one of the priority areas of economic and cultural development of many countries and an important component of the socio-economic development of each of them. It is worth noting that with the beginning of the full-scale Russian invasion, the tourism sector suffered a lot. However, it is already clear today that the losses in tourism will be significant and some tourist resources will be impossible to restore, while others will probably be rebuilt only after the end of the war. The purpose of this paper is to assess the losses of tourist resources in the conditions of armed confrontations and propose new solutions for the use of tourist resources in the period of post-war reconstruction. The research methodology uses methods of complex analysis and synthesis, deduction and induction, as well as content analysis of the main statistical and scientific sources for expert evaluation of the indicators of tourist resources. The proposed methodology is based on the construction of an integral index assessment. To evaluate the quality characteristics of tourist resources, we chose such indicators as the availability of these resources, attractiveness, readiness for implementation, availability of infrastructure for implementation, advertising and infor- mation support, price policy regarding their implementation, and staffing of the analysed tourist resources of the region. As a result Transcarpathia (0.87), Odesa (0.82), Ivano-Frankivsk (0.82), Lviv (0.87), Ternopil (0.73), Chernivtsi (0.73) regions have high values of the integrated assessment of tourist resources. The next group of regions – Kyiv (0.65), Dnipropetrovsk (0.53), Zaporizhzhya (0.53), Volyn (0.51), Kirovohrad (0.51), Poltava (0.6), Rivne (0.6), Vinnytsia (0.53), Khmelnytskyi (0.62), Kharkiv (0.58), Cherkasy (0.56) regions – fell into the middle group according to the integrated assessment of tourist resources. The lower group includes Zhytomyr (0.45), Mykolayiv (0.47), Kherson (0.42), Sumy (0.42), Donetsk (0.16), Luhansk (0.20) regions. The paper analyses the current state and substantiates the demand to create an individualized tourist product that would meet the constantly changing nature of tourists’ needs and could be flexibly and quickly transformed under the influence of political, economic and other factors of world development. As a result, there is a deepening, expansion and diversification of types of tourist resources, which satisfies the increasingly complex demands of modern people in the variety of recreation and leisure, development of new directions and markets of international tourism.
 
 

Family Entrepreneurship as a Tool of Social Support for Low-Income Categories of Citizens in Russia

Family business (family entrepreneurship) is of particular relevance in modern conditions, since it combines family values and business interests with due regard to the complex international political situation and the need to find new tools for social support. Family entrepreneurship is characterized by a high degree of loyalty between family values and business interests, which ensures reliability and sustainability of an enterprise. In addition, family entrepreneurship allows solving social problems such as unemployment and low income of the population. This can be an important factor in economic development of both individual regions and the whole country.The author concludes that family business can become one of the keys to getting out of a difficult economic situation. Many foreign enterprises have left the Russian market due to the sanctions of unfriendly states. Thus, it is not necessary to replace them with Chinese and other foreign analogues. It is necessary to invest money in the development of family enterprises today so that tomorrow they can become competitive business units and produce high-quality and in-demand goods.Based on the data analysis, the author identifies possible ways to solve problems in the field of family entrepreneurship in the Russian Federation. They include creation of special support and assistance programs for aspiring family entrepreneurs, including tax incentives, loans and assistance in finding financing; targeted promotion of family entrepreneurship in social networks and the media; organization of support and training in marketing, business planning and business analytics; training in practical skills for successful business; creation of projects for the joint use of resources and infrastructure for family entrepreneurs. The paper provides proposals aimed at creating favourable conditions for the family business development.

IMPROVEMENT OF FOREST ROADS, CASE STUDY: THE ACCESS ROAD TO THE GOLIRAN COAL MINE IN MAZANDARAN PROVINCE, IRAN

Improvement of existing forest roads for easier access to mineral resources and operation is one of the national needs and a factor of economic and tourism development in the forest areas on the southern Coast of the Khazar Lake and in the Highlands of the northern provinces of Iran. Forest resource management can only be sustainable through a well-organized road network designed with optimal spatial planning and minimum environmental impacts. Improving the quality of forest roads leads to reducing mining and transport costs, and improving the livelihoods of the local people However, unscrupulous construction and improper maintenance could have adverse and irreparable effects. Environmental destruction should be minimized in the design and construction of forest roads and engineering principles should not be neglected in this regard. In the long run, Improved Road construction will have positive environmental impacts because road damage due to Erosion and Drift brings environmental damage in addition to economic and social injuries. One of the main factors in the stability and durability of roads is extensive drainage and stabilization of the road shell in inaccessible forest and mountain areas. This article examines environmental and engineering problems, sustainability, and impacts of drainage and stability in the construction and improvement of forest roads based on the access road to the Goliran coal mine in the highlands of Babol county in Mazandaran province, Iran.

Analysis of the development of energy consumption of electricity and fuels in Slovakia

As the standard of living rises, the energy consumption of electricity and fuels increases not only in Slovakia but across the European Union. Future energy demand will be based on population growth, and it is the key factor of economic and social development of the society, with an emphasis being put on improving the quality of life. This study focused on the development of the final energy consumption (FEC) of individual fuels, electricity and heat, including their shares in the final energy consumption in selected economy sectors in Slovakia. Time-series analysis methods were applied to predict energy consumption for the next three years. Although we have witnessed a decrease in the total energy consumption in individual sectors in Slovakia in the years 2005–2015, energy consumption generally exhibits an increasing trend. In all of the analysed sectors, the development of final consumption of energy from renewable energy sources (RESs) and wastes exhibited a rising trend; nevertheless, the results of our evaluation indicated that Slovakia still has some major shortcomings as to the utilisation of RESs

THE INFLUENCE OF GOVERNMENT SUPPORT ON GREEN PURCHASE INTENTION

Green consumption is the main driving force for sustainable economic growth and the main factor for the high-quality economic development of various countries. Based on the S-O-R (stimulus-organism-response) theory, this paper constructs a conceptual model of green purchase intention with government support as an independent variable, green trust as an intermediary variable, and green purchase intention as a dependent variable. An empirical analysis has been carried out. The research shows that the government's material, informational, and emotional support all have a positive impact on consumers' green trust, and green trust plays a mediating role between government support and green purchase intention.

Problems of investment support of current economic development in Russia

Aim. To analyse investment activity in modern Russia in the context of new conditions and tasks of the country’s economic development, as well as to identify the directions of its stimulation and development.Tasks. To analyse the current state and prospects of development of the Russian economy in the context of external sanctions; to study and assess the level and features of business investment activity in modern Russia; to propose tools and directions of stimulation and development of investment, considered as a way to restart the mechanisms of economic growth.Methods. The methodological basis of the research was the provisions of macroeconomic theory, in particular such sections as the theory of economic growth, the theory of state regulation of the economy, the theory of investment. The methods of comparative and retrospective analysis, structural modelling, analogy, expert evaluation and qualitative methods of forecasting were used.Results. It has been established that the Russian economy has entered the period of development characterised by high uncertainty of the main influencing factors. This negatively affects the behaviour of economic entities and weakens the potential for economic growth. One of the important factors of growth and sustainable economic development is investment. Despite the external sanctions pressure on the Russian economy, there was no decrease in investment activity in 2022. On the contrary, it has increased. This is a prerequisite for successfully overcoming the current crisis phenomena in the economy and further successful development of the national economy. At the same time, a number of problems restraining the investment activity of Russian business have been identified.Conclusions. In modern conditions, the issues of creating effective incentives to support and develop the investment activity of Russian companies have become more relevant. The relevant measures should be built into a new model of economic policy aimed at creating the potential for long-term economic growth in Russia in post-normal conditions. These measures are related to the activities of development institutions acting as sources of “long” and “cheap” money, as well as to the adjustment of fiscal policy, oriented towards the creation of additional incentives for the growth of investments of economic entities.

Entrepreneurial Mindset as a Facilitator and Barrier to Entrepreneurship Development: The Mediating Role of Entrepreneurial Culture

Entrepreneurship has been globally identified as an important factor for economic development. The importance of entrepreneurship has encouraged policymakers to invest in entrepreneurship development, and entrepreneurial mindset and culture are being assumed as important factors to consider in developing entrepreneurship success and growth. This study focused on the role of entrepreneurial mindset and culture on the entrepreneurship success or failure in South Africa. The objective of this study was to understand whether entrepreneurship culture can enhance entrepreneurial mindset and whether both entrepreneurial mindset and culture enhance entrepreneurship success and development. A qualitative research approach was used for this study, where a systematic literature review was followed as the method of review. Various online databases and peer-reviewed journal articles were used in analysing appropriate and relevant literature. The findings revealed that culture and mindset have a robust contribution towards entrepreneurship development and success. The findings further revealed that entrepreneurship culture makes an important contribution to the development of an entrepreneurial mindset, which encourages entrepreneurial intentions and venture success. This study indicates that the creation of an entrepreneurial mindset that drives creativity and innovation, resulting in new ventures being created and entrepreneurship culture being cemented, is very important in encouraging entrepreneurship growth and success.

Spatial Structure and Factors of Economic Development of Asian Russia

Spatial Structure and Factors of Economic Development of Asian Russia

Who Runs the World: Women Entrepreneurs and Economic Development

Economic development aims to increase economic wealth and prosperity within a country to improve the overall quality of living for the people and incite positive change within society. Due to its vital role, economic development, or rather the factors of economic development, has been greatly researched and debated by economists. The Human Capital Approach asserts that people can increase productivity and consequently promote development through greater education and skills attainment as well as improved health. Women in particular have been proven to create and utilize economic opportunities differently from men, and there is evidence that women entrepreneurs are driving forces in economic progress. Though there is much research on development across countries, there is a lack of research on the impact that women entrepreneurs make on the economy across the stages of development. This research assesses the relationship between important measurements related to female entrepreneurial activity and economic development according to the two-category development status (i.e., higher vs lower income), income level, and level of female entrepreneurial activity. It utilizes the World Bank Open Data System to access and evaluate measurements related to human capital, entrepreneurship, women, and female entrepreneurial activity. Two-tailed t-tests and a one-factor ANOVA test reveals important associations: an association between higher rates of female entrepreneurial activity and increased economic development. The results also reveal the importance of capital access and institutions related to start-up procedures for registering businesses in spurring both female entrepreneurial activity and development.

FEATURES OF THE INNOVATIVE DEVELOPMENT OF UKRAINIAN AGRARIAN ENTERPRISES IN MODERN CONDITIONS

The article examines the peculiarities of innovative development of enterprises of the agro -industrial complex of Ukraine in modern conditions. Innovations are considered as one of the factors of economic development at all levels as the motivator of its productivity and competitiveness. It was determined that the economic categories of innovative activity and intellectual capital are closely related. Key aspects are highlighted, which are the motivator of innovative development of enterprises and factors that have a positive and negative impact on the introduction of innovations at the enterprises of the agro -industrial complex. The classification of types of innovations was considered, global trend directions and priorities of innovative development for domestic representatives of the agricultural sector were highlighted, their practical use according to each type is analyzed. The domestic experience of innovative development of the agrarian sector of the Ukrainian economy was analyzed and it was found that individual holdings and enterprises chose an innovative path of development that contributes to improving productivity and labor efficiency. In particular, it is emphasized that innovative development is an irreplaceable source of sustainable development of agricultural enterprises in modern conditions, which, in turn, strengthens the position of agrarian enterprises in the domestic market and allows them to compete on the world markets. The types of innovations were studied, which made it possible to assess the diversity of approaches to the innovative development of agricultural enterprises. The activity of agricultural enterprises according to special aggregations was analyzed. Three main priorities of the innovativeness of domestic agrarian activity are highlighted: precision farming, innovations in field accounting and analysis, and the company's management system. The creation of the Innovative Center of Agrarian Education and Development (ICAED) is proposed to promote the unification of the efforts of institutions of higher education, agro-enterprises and innovative structures in order to activate innovations in AIC, as well as to adapt educational disciplines to modern market needs. It was determined that the renewal of innovative infrastructure and improvement of connections between education, science and agribusiness require attention.

Socio-economic impacts of agricultural land conversion: A meta-analysis

Land use change (LUC) is one of the main factors of economic development, and humans have been changing land use for many years. Agricultural land conversion (ALC) is determined as a major process in many developing countries. The aim of this study was to investigate the widespread ALC and its main socio-economic impacts in developing countries during the last 50 years. This study was conducted through a meta-analysis of 56 original articles that identified the main impacts of the ALC from the 19th century onwards in four continents, including Africa, Asia, Europe, and America. The findings of meta-regression showed that spatiotemporal impacts had significant influences on socio-economic impacts, and the most important spatial impacts were related to the continents of America and Asia. In addition, the results of ALC’s rate coefficients in meta-regression indicated that the greatest social impacts were related to crime (2.17%) and the greatest economic impacts were related to endangering households’ revenue (2.98%). Therefore, it is concluded that the rapid conversion of agricultural land to achieve economic development leads to socio-economic impacts, and such economic development cannot be sustainable. Accordingly, it is suggested that the ALC consider such things as planning detailed investigations for the ALC, assessing the value of goods and services provided by agricultural land, monitoring unauthorized ALCs, and imposing fines and taxes on the unplanned ALC. Agricultural land provides important non-market goods and services with good management. Improper conversion of agricultural land to non-agricultural land makes it unproductive and endangered, leading to global warming and climate change.

The Influence of Political Stability on Indonesia's Gross Domestic Product

The goal of this study is to examine how political stability impacts Indonesia's Gross Domestic Product (GDP). Political stability is a crucial factor in a country's economic development, because it can affect the investment climate, economic growth, and people's welfare. The Central Bureau of Statistics and other relevant organizations' secondary data were used as secondary data sources in this study's qualitative descriptive analysis of the literature. The data collected covers a specific relevant time period and includes indicators of political stability and GDP. The results of the analysis show that political stability has a significant influence on GDP in Indonesia. High political stability tends to create conditions conducive to sustainable economic growth. This is reflected in increased investment, expansion of the industrial sector, and increase in national income. In the Indonesian context, good political stability can increase investor confidence, both domestic and foreign, to invest in various economic sectors. In addition, political stability also provides legal certainty and consistent policies, which help create a favorable investment climate. The government needs to maintain political stability through actions that promote inclusive political participation, fair law enforcement, and consistent and transparent policies. These efforts will strengthen investor confidence, stimulate investment, and promote sustainable economic growth.

A Prediction Model for Electric Vehicle Sales Using Machine Learning Approaches

The electric vehicle (EV) market is booming, but EV market trends vary by region. This study draws on the environmental, economic, and human development factors of 31 countries to predict sales of EVs. Based on machine learning (ML) algorithms and the PLS method, the authors constructed an EV sales performance prediction model and carried out the experiments. The experimental results demonstrate that ML algorithms can effectively achieve the desired accuracy and predictive performance levels. At the same time, this study investigates the relationship between quality training indicators and EV sales. CO2 emissions, PM2.5, consumer price index (CPI), renewable energy, and life expectancy are found to be significantly positive related to EV sales. The proposed model can be used globally by governments as a decision support tool to impose policies encouraging the adoption of EVs and develop sustainable strategies.