Factor Of Economic Growth Research Articles (Page 2)

The article examines the current state of attracting foreign investment in recent years. The dynamics of foreign investment are presented, and monitoring of attracting foreign investment into the economy of Ukraine is carried out. The sectors of the national economy of Ukraine that attract the most foreign investment are characterized. The reasons that have a negative impact on the volume of their attraction are substantiated. The focus is on the key factors influencing the attraction of foreign investment, the investment field, and a favorable investment climate. Methodology. The sectoral structure of the distribution of foreign direct investment and their distribution by type of economic activity are studied. It is established that in terms of sectoral attractiveness, the priority areas for investment are industry and agriculture. The necessity of attracting foreign investment in modern conditions is substantiated, the main problems of foreign investment inflow are outlined and the main ways of solving them are proposed. The role of foreign investment in the economic growth of Ukraine is considered, factors that provide a positive impact on the investment climate and problems of forming a favorable investment environment are identified. Investments, including foreign ones, are not only a mechanism for development, but also a way of regulating the economy through capital transfers. Results. The purpose of the article is to analyze foreign direct investment as a factor of economic growth of the state. At the current stage of market development, foreign investments are the main source of obtaining the latest competitive technologies. At the same time, the chances of applying best practices in the field of obtaining new technologies and cash circulation during a protracted crisis are increasing. Practical implications. Therefore, among the problems that require immediate resolution, one of the first places is occupied by the problem of lack of investment resources in the Ukrainian economy and the creation of favorable conditions for their accumulation. Value / originality. It is worth noting that the processes of economic growth are determined by the volume and growth rates of investments, their structure and qualitative characteristics. It has been proven that for the full operation of enterprises and business structures there is a need to finance their current activities, introduce new technologies, insure existing risks, and develop trade and transport infrastructure.

This paper uncovers the macroeconomic factors of economic growth in Senegal utilizing data from 1974 to 2019. It employs the ARDL model, Bound test, and the Toda-Yamamoto causality approach to analyze the relationships among variables. The findings reveal that external debt positively influences GDP growth in the long run, while foreign direct investment (FDI) positively affects it in the short time frame. Toda-Yamamoto causality results indicate bidirectional causality between GDP growth and inflation, external debt, and foreign aid, whereas a unidirectional causality runs from FDI to GDP growth. The findings of the research gauge that policymakers should consider FDI and external debt as crucial tools to promote economic growth in developing countries such as Senegal.

Introduction. The relevance of the research topic is determined by the increasing role of international labor migration in the socio-economic development of Russian regions and the need for effective management of migrant flows. In the conditions of demographic decline and labor shortage, the attraction of foreign migrants becomes an important factor of economic growth. The study of the determinants of international labor migration has often focused on the socio-economic characteristics of destinations. This article examines the impact of the quality of public administration of territories on their ability to attract labor immigrants. Materials and Methods. The empirical basis of the study was the data of Rosstat, as well as information from the Atlas “Islamic Community of the Russian Federation”. The research method was regression analysis of panel data (fixed effects model). Results. Statistical processing of the data showed that the constituent entities of the Russian Federation with a higher quality of state governance attract more international labor migrants. At the same time, most socio-economic factors that are traditionally used to explain the attractiveness of the destination territory were not confirmed, although they are indirectly included in the category of “state capacity”. Regression analysis demonstrated a positive impact of the share of Muslim population in the Russian regions on the number (in relative terms) of foreign labor migrants. The concept of “ethnic networks” has not been empirically tested. Discussion and Conclusion. International labor migrants prefer to come to destination territories with a higher quality of public administration. At the same time, it is important to ensure social integration of immigrants and protection of their rights in order to avoid problems in the host society that are related to socio-cultural differences. The results of the study can contribute to the growth of the efficiency of migration management at the national and sub-national levels, as well as allow forecasting the directions of migration flow.

This study aims to provide a comprehensive analysis of the impact of digital transformation on labor productivity in industrial enterprises. In the context of globalization and technological progress, the digitalization of industrial production has become a crucial factor in economic growth. Digital technologies–automation, artificial intelligence, big data analytics, cloud computing, and the industrial Internet of Things (IoT) are key tools for improving labor productivity. These technologies not only enhance production efficiency but also strengthen the competitiveness of enterprises, expanding their opportunities to enter global markets. The study examines international experiences in assessing the impact of digital transformation on labor productivity. Reforms implemented under Germany's "Industry 4.0" initiative, South Korea's digital strategies, and Singapore's "Smart City" program are analyzed, highlighting their effects on the industrial sector. In these countries, the adoption of digital technologies is considered a critical factor in increasing labor productivity. Additionally, the research explores the current state of digital transformation in Kazakhstan's industrial enterprises, identifying key barriers and opportunities. The main challenges of industrial digitalization in Kazakhstan are related to infrastructure limitations, a shortage of qualified personnel, and the low readiness of enterprises to adopt new technologies. Addressing these issues requires enhanced government support, the development of digital infrastructure, and the strengthening of enterprises' innovation potential. The findings of this study indicate that the effective implementation of digital transformation in Kazakhstan will become a vital component of national innovation development, positively impacting labor productivity and sustainable economic growth. The widespread adoption of digital technologies will enable industrial enterprises to optimize production processes, expand into new markets, and improve their competitiveness.

This study examines the impact of interest rates on economic growth in Indonesia using a time series approach. Interest rates play a significant role in determining the levels of investment and consumer spending, both of which are key factors in economic growth. Monthly secondary data from 2016 to 2021 were used to analyze this relationship through path analysis. The results show that low interest rates can stimulate economic growth by enhancing access to funding, while high interest rates tend to reduce economic activity. The relationship between inflation, interest rates, and economic growth is highly complex, with important implications for Bank Indonesia’s monetary policy. This study emphasizes the need for a deep understanding of the interaction among these three variables to formulate policies that support sustainable growth.

ABSTRACT In tourism studies, the Granger causality test has been widely employed to explore the dynamic relationships among tourism demand, economic growth, and other relevant factors. This study conducts a scientometric analysis of its application in tourism research, mapping trends and dynamics in the literature indexed by the Web of Science from 2001 to 2023. By integrating bibliometric methods with topic modelling, the analysis reveals that researchers have extensively utilised the Granger causality test to examine the complex interconnections among tourism, economic growth, and environmental variables, most notably CO₂ emissions. While publication activity surged from 2001 to 2019, a notable decline followed, suggesting a shift in the research focus. Frequent key terms include ‘Tourism’, ‘Economic Growth’, and ‘Granger Causality’, and Latent Dirichlet Allocation modelling identifies ten dominant themes, with tourism, economic factors, and carbon emissions emerging as central topics. Additionally, co-occurrence network analysis highlights significant collaborative contributions from China, Turkey, and Pakistan, with China functioning as the central hub in international research networks. These insights underscore the application of the Granger test and offer future research directions and policy-making references.

Investments as a factor of economic growth in the region

The infrastructural potential of regional innovation ecosystem is becoming a determining factor of economic growth and spatial technological development in the conditions of fierce interregional competition both within a country and at the international level. The implementation of smart regional specialization strategies, aimed at increasing the innovation susceptibility of territories, reducing innovation resistance, overcoming the rut effect, increasing the spatial absorption capacity of territories in the field of innovation, actualizes the task of finding optimal methodological tools for assessing the infrastructural potential of innovation ecosystems. The purpose of the study is to systematize theoretical models and methodological approaches to assessing the infrastructural potential of regional innovation ecosystem, identify issues, and determine the directions for improving the methodologies. The review of the methodologies for assessing the infrastructural potential has revealed their significant diversity: the results-based approach, considering transaction costs, the analysis of production functions and correlations, integral indices, the matrix method, and specialized indicators of digital transformation. Of particular value is the ecosystem paradigm, which considers the innovation infrastructure as an open system of interdependent agents that jointly generate, disseminate, and commercialize innovations on the basis of smart specialization. The key issues of modern methods have been identified: terminological ambiguity, abstractness, poor practical testing, insufficient consideration of integral effects, and qualitative characteristics of the infrastructural potential of regional innovation ecosystems. Promising directions for improving the methodology of assessing the infrastructural potential of regional innovation ecosystem have been identified: creating a unified terminological base, developing a comprehensive approach with the quantitative and qualitative methods integration, considering modern technological trends, and adapting advanced international practices to Russian conditions. The study results are of interest to federal, regional, and local authorities in the framework forming and implementing innovation policy and overcoming the territorial differentiation of regions with varying institutional density of innovation environment.

Purpose The present study aims to explore the intricate dynamics that shape the development of green technology innovation (GTI) in emerging economies during the period spanning from 2000 to 2020. With a specific focus on the crucial factors of ICT diffusion, globalization, green energy and economic growth, this research aims to elucidate the complex dynamics that contribute to the development of sustainable technological advancements. Design/methodology/approach The research employs a fixed-effect regression and the Driscoll-Kraay (DK) standard error approach to analyze long-term relationships and causality among the variables, ensuring robustness to cross-sectional dependence. Findings The results indicate a significant and positive relationship between GTI and the selected factors. ICT diffusion, globalization, green energy and economic growth collectively contribute to the advancement of sustainable technology. Research limitations/implications The aforementioned insights present a compelling case for policymakers and industry leaders to reevaluate their priorities, emphasizing the need for increased emphasis and encouragement of GTI in emerging markets. By creating a nurturing environment that is conducive to investment and innovation, stakeholders have the potential to accelerate sustainable development pathways. This approach can lead to simultaneous economic growth and environmental stewardship, which are both crucial for long-term sustainability. Originality/value This study provides critical insights into the dynamics of GTI in emerging economies, emphasizing the importance of strategic initiatives for fostering sustainability. Graphical

The post-war reconstruction of Ukraine necessitates two principal components: the large-scale physical rebuilding of destroyed infrastructure and the implementation of deep structural reforms. Among these reforms, the transformation of civil legislation is of particular significance. The effective regulation of property and contractual legal relations is a necessary prerequisite for the restoration of entrepreneurial activity, the stimulation of investment attractiveness, and the ensuring of overall legal stability in the country. In the context of Russia's full-scale armed aggression against Ukraine, which has precipitated profound socio-economic transformations, the necessity to update civil law instruments has become paramount. In the context of the strategic European integration direction of state policy, there has been a notable increase in the significance of harmonising national civil legislation with European Union law. The harmonisation process is driven by the objective of aligning Ukraine's legal framework with European standards, thereby establishing a legal environment characterised by transparency, predictability, and efficiency for market participants. It is imperative to direct particular attention to the process of repealing the Commercial Code of Ukraine, a seminal step that signifies a unification of private law. This provides a foundation for a conceptual revision of the provisions of the Civil Code of Ukraine, ensuring their alignment with contemporary challenges, the needs of the business environment, and the principles of sustainable development. The subject of this research is the reform of Ukraine's civil legislation in the context of post-war recovery and European integration processes. The objective of this study is to conduct a comprehensive analysis of the process in question, with a view to defining its role as a factor in economic growth, a guarantor of legal certainty for businesses and citizens, and an instrument for achieving sustainable development. The methodological framework of the research consists of methods of legal policy analysis, comparative law, and empirical research methods. The findings of the research indicate that the updated civil legislation must become the legal foundation for the effective functioning of market mechanisms, protection of investors' rights, modernisation of the status of business entities, and the implementation of sustainable development principles. The paper puts forward a series of conceptual approaches to harmonising national law with EU law, which it believes will contribute to the creation of a favourable institutional environment in the post-war period.

ABSTRACT This study investigates the impact of digital transformation on economic growth across Vietnamese provinces from 2010 to 2022. Utilising panel data from the Vietnam Statistical Yearbook, this research analyzes the interactions between Information and Communications Technology (ICT) development indices and key economic variables such as capital, labour, foreign direct investment (FDI), and governance. To effectively address the challenges of endogeneity and unravel the complex dynamics among these variables, we employ advanced dynamic panel models, particularly the Generalized Method of Moments (GMM) approach. Our analysis reveals that ICT significantly enhances the productivity of both capital and labour, leading to accelerated economic growth at the provincial level. The results also demonstrate that ICT amplifies the effects of FDI and improves governance efficiency. By highlighting the synergistic relationship between ICT and economic growth factors, this research provides insights for policymakers on leveraging technology to foster regional development and competitiveness in emerging countries.

The article considers issues related to the study of key factors in the formation of a human resources management system of a trading enterprise. The main idea of the work is to highlight the characteristics of modern human resources management systems and determine their types depending on the specifics of the business entity’s field of activity, as well as to build a model for choosing an effective human resources management system in trade. During the study, the state of the labor market with the corresponding offer of decent work and its payment was identified as a decisive factor for sustainable economic growth. The trends of the modern labor market were considered, their TOP-5 were analyzed. The dynamics of the number of business entities of section G (wholesale and retail trade; repair of motor vehicles and motorcycles) in Ukraine and the Dnipropetrovsk region and the share of the Dnipropetrovsk region’s turnover in the retail trade turnover of Ukraine in 2014-2023 and its nature were determined. The influence of the labor market situation on the choice of the personnel management system of enterprises of the studied type of economic activity is established, the features of the choice of the personnel management system of a trade enterprise are characterized, and the criteria for determining an effective system are highlighted. Three main management systems in the trade sector are proposed: a personnel management system from a single center: a process-oriented personnel management system; an integrated personnel management system. The characteristics of each of the personnel management systems are given. Their comparison becomes the basis for choosing the most appropriate one for a trade enterprise depending on the specifics of its activity and category. The definition of an effective personnel management system of trade enterprises is given as a complex of elements and actions that ensure a high level of job satisfaction and increased employee productivity. Approaches to the formation of an effective system based on the selected functional subsystems, stages of its creation and evaluation are generalized. Three groups of criteria for the effectiveness of the personnel management system of enterprises in the trade sector are highlighted: quality of work; labor productivity; staff turnover. It is proved that the system of indicators for assessing effectiveness is formed depending on the scaling of the trade business. A model for selecting an effective human resources management system for a trading enterprise is proposed, consisting of a set of interconnected elements and a sequence of actions for their implementation. The impact of the introduction of automation and digital solutions in human resources management of trading enterprises on the effectiveness of the system is characterized.

Household Income as Factor of Economic Growth in Russia

Abstract Beyond the theoretical aspects, the interplay between savings, investment and economic growth has vital importance in designing the proper economic policies for the long-run developmental objectives particularly for developing countries. Accordingly, this present paper aims to investigate the dynamic linkage between domestic savings, investment and economic growth for the Eastern European economies by incorporating the annual panel data spanning over 1995-2021. By revealing the existence of long-run relationship, the paper derives that savings and investment are the key factors of economic growth, which is vindicated by the recently pioneered model so called cross-sectional autoregressive distributed lag (CS-ARDL) method. Furthermore, the results of panel causality tests confirm the validity of causal nexus running from savings and investment to economic growth. In addition, the paper concludes with some policy recommendations that are drawn upon the findings.

This study aims to determine the effect of incoming remittances on economic growth and poverty in Ambon City. Remittance receipts are one of the largest contributors to economic growth and tend to be more stable (Jawaid & Raza, 2012). In addition, the flow of remittance funds is also an important source of state revenue for developing countries (Soava, et al., 2020). (2020). In several studies that have been conducted, remittance receipts have been a major factor in rapid economic growth in several developing countries. The World Bank (2005) generally explains that remittances are transfers of funds made by migrant workers to recipients in their home countries. The data used is secondary data, namely the number of incoming remittances, the poor population and economic growth. The results showed a negative relationship between incoming remittances and poverty and a positive relationship between incoming remittances and economic growth. Meanwhile, poverty and economic growth have a negative relationship. Efforts to encourage increased growth in remittance inflows that have been made by the government should be carried out on an ongoing basis. an integral part of the policy of increasing foreign exchange.

The modern theory of economic growth and development posits that human capital is one of the main factor for economic growth as it enhances the productivity of two other classical growth factors: physical capital and labour. Also, investments in human capital accumulation are considered as important precondition for achieving higher levels of economic development. In this context, one line of emprical research is to assess the importance of the two components of human capital – education and health – in the process of economic development. In this paper, we investigate the impact of education and health on the level of economic development (measured as GDP per capita) in a sample of five Southeast European countries (Albania, Croatia, North Macedonia, Serbia and Slovenia, over the period 2000-2021.The empirical analysis relies on a cross-sectional regression using two panels (one for education - based human capital, and the other for health-based capital. Other variables in the models include lagged GDP per capita, gross fixed capital formation per capita and corruption perception index as a proxy for insitutional quality. The results from the two panel regressions indicate that spending on education and health has significant positive effects on GDP per capita. Such research results lend support to the policy prescription that public investments in education and health aimed at upgrading the quality of human capital may significantly contribute to the process of economic development.

Higher education has traditionally played the role of an overarching factor in economic growth and development. The implementation of the European Higher Education Area (EHEA) has already achieved improvements in many educational areas, but there remain, within the requirement to ensure academic excellence, cases where the quality criteria are not entirely harmonized. Genuine harmonization among the 48 countries that have so far been affiliated with the EHEA has been a key challenge for national educational assessment agencies and related bodies. This study aims to analyze the quality of the Spanish university system partially through a model based on the Mamdani Fuzzy Inference System (FIS) methodology. Numerous studies have been identified that evaluate university quality from the perspective of the student, but there are no studies that analyze the quality of public higher education institutions from the perspective of faculty employees. This research gap prompted an extensive literature review, considering fifteen main elements classified into five categories: internationalization; scientific production, occupational category, academic background, and professional experience. Researchers collected and curated data from a database of four Madrid-based public institutions. A Mamdani FIS, yielding a unique assessment in each case, was implemented using the MATLAB Fuzzy Logic Toolbox. Therefore, the results have been evaluated to determine which institution has led to better educational quality. The research approach leads to measuring the quality of public higher education institutions. First, thanks to the quality evaluation from the perspective of the workers and the professors who are part of the four public universities in Madrid. Second, we carried out this analysis under a methodology that has not been used before on that issue. Concerning its practical implications, this study can help policymakers design better practices to improve the careers of university professors and, as a result, the quality of higher education and the future employability of graduates.

In the past half-decade, the Republic of Serbia has recorded a growing trend in the construction of infrastructure facilities, representing a key factor for economic growth and societal development by improving transport connectivity, strengthening the economy, and enhancing the quality of life.The intensification of infrastructure development has led to a significant increase in the demand for technical construction materials, which has further stimulated the growth of the mining industry as a primary sector supplying the construction industry with essential raw materials.The aim of this research is to conduct a statistical analysis of data on the production of technical construction materials, as well as to evaluate the key factors that have contributed to a more efficient and streamlined exploitation process. The consideration of technical and economic parameters, along with the conditions affecting the production process, is of fundamental importance for the continued development of this sector and for defining strategies for its improvement.Harmonization between the production and consumption of technical construction materials, in accordance with current legal regulations, is a prerequisite for the sustainable management of mineral resources. This ensures optimal exploitation, reduces negative environmental impacts, and enables the efficient supply of the construction sector while strictly adhering to technical and environmental standards.

This study aims to predict the sales of electrical energy of PT PLN (Persero) Greater Jakarta Distribution Unit by using machine learning methods, specifically Long Short-Term Memory (LSTM) and Support Vector Regression (SVR). The data used includes electrical energy sales trends from 2016 to 2023 as well as external data from the Central Statistics Agency (BPS), which includes economic and demographic factors that affect energy demand, such as economic growth, population, and seasonal factors. LSTM was chosen for its ability to handle long-term dependencies in time series data, while SVR was used as a comparison to other regression methods. The resulting model is expected to provide more accurate predictions and be useful for PT PLN in planning the distribution of electrical energy efficiently. This research also contributes to the development of the application of machine learning in forecasting, which is growing in various sectors, including the energy sector, to improve operational efficiency and data-based decision making.

Today, ecology plays an important role in the life of most spheres. Obviously, economic development is associated with environmental changes. In recent years, the Earth's ecological system has undergone a significant decline. Due to the unsustainable use of natural resources without further restoration, the efficiency of ecosystems is being impaired. The functionality of ecosystems has a direct impact on people's living standards and well-being. Environmental changes are mostly caused by the rapid economic development in most countries of the world. The needs of the population are growing every year, and the amount of natural resources is decreasing, so it is important to establish the relationship between the social, economic and natural environments. Ukraine, like many other countries, faces the need to combine economic growth and environmental protection. Therefore, the analysis of the environmental development of domestic business is extremely important for understanding current trends, identifying problematic aspects and developing effective strategies for sustainable development. In the current context of global environmental challenges, Ukrainian enterprises are increasingly realizing the importance of transition to sustainable development. The environmental development of enterprises is not only a requirement of the times, but also a strategic necessity, which implies a systematic improvement of economic activity taking into account environmental factors. The main goal of this process is to harmonize economic growth with minimal negative impact on the environment. Ecological entrepreneurship plays an important role in this process, covering both the production of environmentally friendly products and the introduction of resource-saving technologies, the use of recycled materials, the development of organic farming and alternative energy. Environmental control plays an important role in the government's policy, as it is aimed at ensuring compliance with legal regulations and promoting environmental responsibility of businesses. The effectiveness of control depends on a harmonious combination of legislative, economic, administrative and organizational instruments. In particular, the legislative framework regulates the requirements for environmental activities, economic levers form a system of incentives and sanctions, administrative levers ensure enforcement of regulations, and organizational levers create conditions for interaction between the state, business and the public. Together, they form a system that ensures not only control but also the development of environmental responsibility of enterprises. At the same time, despite the existence of a regulatory framework and control tools, the current state of environmental entrepreneurship in Ukraine remains ambiguous. Significant barriers include a lack of funding, outdated technologies, low environmental awareness among entrepreneurs, and insufficient government support. Therefore, the prospects for the development of environmental entrepreneurship directly depend on strengthening government policy, investing in innovation, and creating a culture of sustainable development among both businesses and consumers. In the context of European integration, the intensification of environmental entrepreneurship can become not only a means of environmental protection, but also a competitive advantage in the international market. Thus, the environmental development of enterprises in Ukraine is a key factor in sustainable economic growth and environmental protection. Its effective implementation requires not only controlling and legislative mechanisms, but also active participation of business, investments in eco-technologies and the formation of an environmental culture. Only with a comprehensive approach will environmental entrepreneurship become a real competitive advantage of Ukraine on the world stage.