Factor Of Economic Growth Research Articles (Page 4)

The development of a country's economy is greatly influenced by global economic conditions, given the increasingly close links between countries through economic relations and international cooperation. One of the main factors in economic growth is international trade, particularly export and import activities. Crude oil is one of the most actively traded commodities. Given the highly volatile crude oil market, accurate price forecasts are crucial in economic and financial decision-making. This study compares the performance of Adaptive Neuro-Fuzzy Inference System (ANFIS) and Fuzzy Time Series Markov Chain (FTSMC) in forecasting the price of West Texas Intermediate (WTI) crude oil using time series data from 2020 to 2024 with saturated sampling technique. The implementation of both methods is carried out through Matlab Online and R-Studio software, with results showing that ANFIS has higher accuracy than FTSMC, as evidenced by the Mean Absolute Percentage Error (MAPE) value of 1,8010% for ANFIS and 3,7567% for FTSMC. Further analysis shows that ANFIS with a triangular membership function as well as significant lags at lag 1, lag 3, lag 4, and lag 7 is able to produce more accurate predictions and match the trend of actual data. Therefore, ANFIS is recommended as a more effective method in forecasting WTI crude oil prices, which can provide valuable insights for policy makers and industry stakeholders.

The purpose of the scientific research is to graphically present and scientifically analyse economic growth under the influence of digital production factors as a result of technical progress, technological improvement and the use of Industry 5.0 tools. The оbject of the scientific research is the ranking of data by world country according to various indices and sub-indices of the "Global Innovation Index 2023: Innovation in the face of uncertainty" of the World Intellectual Property Organisation (WIPO), Geneva, which reflect innovative and scientific and technological activities. They allow for a qualitative comparative analysis of countries and regions in terms of their technological activity and the identification of factors of leadership or lagging. WIPO's analytical materials provide a picture of the current state of innovation and digitisation, allowing for targeted and methodologically substantiated research. Methodology. The study employs a range of methodologies, including a graphical approach to analyse the impact of digital production factors on the production capability curve and economic growth in the country. Additionally, it examines the shift in the position of the production function curve under the influence of technical progress and technological advancement towards Industry 5.0. The comparative method helped to present the evaluation indicators of the Global Innovation Index in terms of country groups by income level. The methods of analysis, synthesis, induction and deduction are used in the presentation of the factors influencing the effectiveness of digital entrepreneurship. The method of concretisation found its manifestation in the development of the author's proposals in the part of finding the driving forces of innovative and digital development of the economy. Results. The paper reveals clear changes and adjustments in the partial priority of using economic growth factors, which are the drivers of economic progress in the 20th–21st centuries. It was possible to present a graphical interpretation of the production possibilities curve and economic growth under the influence of digital production factors; to analyse changes in the position of the production function curve under the influence of technical progress and technological improvement on the path to the formation of Industry 5.0. The Global Innovation Index 2023 is analysed in order to provide an overview of the rankings of countries according to income level in terms of income and sales from intellectual property, high-tech imports and exports. The authors present their vision of the content of the work of the owner of a digital enterprise, and indicate the role that this owner plays. Practical implications. A comprehensive review of the extant literature revealed that the factors conducive to economic growth encompass the expansion of human capital quantity and quality; technological progress, technological quality and digital entrepreneurship; the formation of financial capital and an increase in the volume of its offers; and the augmentation of natural resources quantity and quality. Thus, the drivers of the formation of Industry 5.0 based on digital entrepreneurship, formed under the influence of technical and technological changes, are hyperintelligence, hyperknowledge, hyperinformation and hypercommunication, updated under the influence of economic growth factors. Value/Оriginality. The VII technical and technological system is predicated on creative intelligence. The objective of implementing new technologies and technological enhancement is to facilitate the digitalisation of entrepreneurship and the establishment of a novel virtual reality conducive to expeditious and efficient business operations. Consequently, utilising a dialectical, systematic and graphic approach, the impact of technical and technological progress on the transformations in Industry 5.0 was investigated. This investigation determined the prospective reserve of innovation and digitalisation of entrepreneurship, with a view to achieving economic growth.

The article is devoted to the problems of the development of digitalization of the modern economy of Kyrgyzstan and its impact on economic processes that determine economic growth and social well-being. It is noted that digitalization does not become a significant factor in economic growth and has a contradictory effect on the increase and size of economic growth, further development of the theoretical foundations of analysis and measurement of economic growth in its conditions is required. The paper highlights the role and importance of process innovations in the course of digitalization, the widespread use of which may not lead to an increase in GDP. Digital technologies play a key role in the modern economy and will continue to form the basis of the economy of the future. They are becoming the driving force that determines the growth and development of various industries and enterprises. One of the main reasons for the success of digital technologies is their ability to significantly increase the efficiency of business processes, improve the quality of products and services, and improve customer interactions. It is shown that the business in the field of computer and information technology, as well as the sharing business based on the widespread use of Internet services and cloud technologies, is currently developing rapidly.

This study aims to electricity demand forecasting and optimize New Renewable Energy (NRE) to supply electrical energy demand in East Nusa Tenggara (NTT) Province 2024-2034 using Low Emissions Analysis Platform (LEAP) Software, considering factors of population growth, economic growth, and government policies related utilization NRE and environment. The method used is a quantitative descriptive end-use model. High, medium, and low scenarios were added to make the research results more adaptive. Moreover, PLTD and PLTU are scenarios that will experience decreased installed capacity until 2034. The results of forecast electricity demand 2024-2034 in NTT Province, for the high scenario increased from 1,448.49 GWh to 2,018.56 GWh with average growth of 3.50%, medium scenario increased from 1,318.91 GWh to 1,595.31 GWh with average growth of 2.06%, low scenario increased from 1,200.10 GWh to 1,359.33 GWh with average growth of 1.39%. Optimization of NRE in the high, medium, and low scenarios shows that NRE can supply electricity demand until 2034.

The purpose of the paper is to empirically determine the impact of human capital on the innovation performance of EU economies. Currently, most researchers consider human capital a significant factor of economic growth based on knowledge and innovation. Depending on the amount and quality of the available resources, human capital can play various parts in an economy, e.g. that of a user of existing knowledge and technology (general human capital), an implementer of new solutions, or a creator of previously undiscovered knowledge (specialised human capital). However, there is a gap in the literature regarding empirical research into the influence of human capital on the innovativeness of economies. This is related to the difficulties associated with the measurement of the two categories, as well as the limited number of methods to study the relationships between unobservable variables. The research described in the paper fills this gap. In order to study the relationship between human capital (general and specialised) and the innovation performance of economies, the partial least squares structural equation modelling (PLS-SEM) was used. The research spanned the years 2014-2020. Four PLS-SEM models were estimated based on cross-sectional data for the EU economies. The results showed that human capital significantly boosts the innovation performance of EU economies. Both general human capital and specific human capital had a significant positive impact on the innovation performance of these countries in the analysed years. The results can have a practical application and serve as an instrument of innovation policies or as a tool helpful in creating conditions for innovation systems.

This research analyzes how South Asian economies benefit from adopting Green Information Systems as a driver for GDP growth. For this, the study employs panel data from five South Asian countries, i.e. India, Pakistan, Bangladesh, Sri Lanka, Nepal and Bhutan, covering the period from 2004 to 2023. Green Information Systems Adoption index is made using PCA method and Internet users, Mobile subscribers and ICT exports are taken as the indicators. The fixed effects alongside random effects models verify that implementing Green Information Systems Adoption generates substantial economic growth, which advances technological development and drives the regional expansion of the economy. South Asian economies depend on carbon-intensive industries, which causes a positive and statistically significant relationship between carbon emissions and economic growth. The statistical connection between energy efficiency performances and GDP growth remains moderate because investment in renewable energy infrastructure remains needed. Economic growth remains unaffected by regulatory quality levels. The study shows that trade openness stands out as a major economic growth factor that strengthens the impact of globalization and market integration on sustainable development.

A time-dependent change in the amount of goods and services produced in an economy refers to economic growth. Economic growth is considered an important factor in increasing the welfare of a society and in determining the level of development of countries. Therefore, all countries in the world endeavour to increase their economic growth performance. By increasing the economic growth performance of countries, opportunities to compete with other economies increase because of the increase in production activities in the economy. Therefore, economic growth is considered to be one of the most important issues in the economy in terms of its causes and consequences. This framework aims to test the effects of capital accumulation, employment level, and technological progress factors on economic growth in Turkey between 1990-2021. For this purpose, the relationships between the variables were analysed using the Toda-Yamamoto causality test. The analyses revealed that capital accumulation, employment level, and technological progress have a statistically significant relationship with economic growth. This result is consistent with the hypotheses regarding the determinant role of capital, labour, and technology factors in economic growth, which are put forward in Solow's neoclassical growth model and endogenous growth theories.

The article conducts a study on barriers to digitalization of African countries. The results of the study are in many ways a continuation of other works by the author, including those published jointly with other scientists. Digitalization has become one of the key processes taking place on the African continent today, despite all the traditional socio-economic and political problems of this region. Moreover, multiple studies show that digitalization has become a significant factor in economic growth and development of African countries. Therefore, understanding the barriers that impede the dynamic and sustainable development of digital processes seems important. This is the basis for the purpose of the study, according to which the main attention is focused on the factors hindering the digitalization of Africa. The main results note that significant barriers to digitalization of the African continent include the high cost of access and connection to the Internet, poorly developed digital skills of the local population, as well as problems of ensuring cybersecurity. The study explains that the high cost of Internet services is due to the insufficient development of the Internet infrastructure. Therefore, even the entry of the American company Starlink into the African market has not yet changed the situation significantly. Weak digital skills stem from the overall low literacy level of the African population, which has been noted in many works by both domestic and foreign authors. Finally, cybersecurity issues are largely the result of both weak digital skills and a lack of attention to digital products that can protect African Internet users’ data.

With the development of transport and information technology (IT), urban innovation linkages are becoming increasingly close and are key factors in regional economic growth. Despite previous studies analyzing urban network characteristics, structures, and factors that influence them, there has been little exploration of their socioeconomic effects. Based on unique patent transaction data, this study analyzes the spatiotemporal evolution of urban innovation networks and their impacts and internal mechanisms on regional green total factor productivity (GTFP) using social network analysis, data envelopment analysis, and a negative binomial model. It was found that (1) the enhancement of intercity innovation linkages and their networked development have significantly improved urban GTFP and the innovation network’s embeddedness helps obtain network externalities to improve urban GTFP. (2) The innovation network promotes inter-regional production factor flow and optimal allocation and generates knowledge spillover effects to improve green technology innovation capacity, thus improving urban GTFP. (3) Spatial heterogeneity exists in the impact of the innovation network on the GTFP of different regions and economically developed big cities by gathering more innovation resources, forming closer innovation links, improving the level of green technology innovation and production efficiency, and contributing to urban GTFP. Economically developed big cities can have more innovation resources and form closer innovation links, improve green technology innovation and production efficiency, and have a stronger promotional effect on improving urban GTFP.

This research aims to identify the dynamics of eco-innovations in Kazakhstan's small and medium-sized business sectors, as well as to assess the practical significance of these innovations for both ecology and society as a whole. To achieve this objective, a combination of methods was employed, including surveys of entrepreneurs and enterprise managers using structured questionnaires, as well as the analysis of statistical information. The research findings indicate that small and medium-sized enterprises in Kazakhstan are actively implementing strategies aimed at energy conservation and the utilization of environmentally efficient technologies, resulting in high levels of energy savings. This trend underscores the growing role of SMEs in the economy, as reflected in the increased gross value added and their share of gross domestic product. The increase in environmental protection investments since 2000 signifies an enhanced awareness of the importance of environmental issues and the strengthening of sustainable development strategies in Kazakhstan. The results of the correlation–regression analysis suggest variability in the relationship between the implementation of energy-saving systems and the level of greenhouse gas emissions, possibly explained by more intensive measures towards energy efficiency. Thus, SMEs are actively involved in reducing environmental impact and consider environmental innovations as a key factor for sustainable economic growth. The research findings provide a valuable basis for informed decision-making in the realm of ecological sustainability and the development of small and medium-sized businesses in Central Asian countries.

This study investigates the complex duality of automation and its impact on sustainable development, encompassing the factors of economic growth, social equity, and environmental sustainability. Innovations in artificial intelligence, robotics, and machine learning are driving automation and transforming industries through improved production, operational efficiency, and resource optimization. However, the rapid integration of automation has created a paradox. While it offers opportunities for resource optimization and technological advancement, it exacerbates challenges such as income inequality, environmental degradation, and social displacement. These issues underline the need for balanced and inclusive approaches to automation’s implementation. Automation contributes substantively to GDP growth because it raises labor productivity, yet it has arguably enhanced income inequality by eliminating low-skilled jobs. Automation improves energy efficiency and aids in renewable energy integration but increases overall energy effectiveness, leading to concerns regarding ecological sustainability. This study applied a quantitative methodology using longitudinal data from 2000 to 2023 and regression models to examine sustainability metrics influenced by automation. The findings highlight the potential of automation to reform effective forms of manufacturing, encourage environmental innovation, and identify the need for systemic governmental policies. Specifically, the results indicate that automation has contributed to a 25% increase in labor productivity across sectors, a 15% reduction in energy intensity per unit of GDP, and a 12% rise in the Gini index, signaling growing income inequality. These quantitative outcomes emphasize both the opportunities and challenges posed by automation. By integrating technological advancements with sustainability goals, automation can act as a transformative instrument to promote ecological conservation, equitable economic development, and social justice. The paper concludes with recommendations for governments and industry leaders to incorporate automation into sustainable development objectives, ensuring the equitable distribution of its advantages, while alleviating socio-environmental hazards.

This study analyzes the determinants of residential property prices in 13 selected Asian countries. Key variables include the residential property price index, GDP per capita reflecting economic conditions, real interest rates impacting borrowing costs, inflation affecting purchasing power), population growth influencing housing demand, energy consumption reflecting demand pressures, and the Gini Index measuring income inequality. The research employs the System Generalized Method of Moments (Sys-GMM) for dynamic analysis of these endogenous variables. The results indicate that property prices are significantly influenced by prior price levels. Furthermore, GDP per capita, inflation, and population growth positively affect property prices, underscoring the roles of economic growth and demographic factors in shaping the property market. Higher GDP growth enhances household purchasing power, while population growth increases housing demand. Conversely, energy consumption negatively impacts property prices, reflecting cost pressures from rising energy demand. Interestingly, the real interest rate and Gini index do not significantly influence residential property prices, suggesting these factors may not directly affect price dynamics in the studied countries. These findings emphasize the need for policies that support economic stability and sustainable growth to enhance property market competitiveness. Policymakers should prioritize energy efficiency and inclusive economic development to ensure long-term resilience in the property sector. Sustainable economic policies are essential to strengthen the region's property market and effectively manage growing energy demands.

Economic growth has an important role as the main means of improving the welfare of the Indonesian people. However, Indonesia faces challenges in economic growth due to uneven economic growth factors in each province. This study aims to analyze the effect of IP-ICT, capital expenditure, and labor productivity as well as the effect of the covid-19 pandemic on economic growth in Indonesia in 2017-2022. The data used in this study is quantitative panel data with a sample population of 34 provinces in Indonesia. The research method uses multiple linear regression analysis with the Fixed Effect Model (FEM) as the best model. The regression results show that IP-ICT and labor productivity have a significant positive effect, while capital expenditure has no real impact, and the covid-19 dummy has a significant effect on economic growth in Indonesia in 2017-2022.

The article presents topical issues of legal regulation and organization of the activities of the internal affairs bodies of the Russian Federation in the context of ensuring security at tourism sites. The au-thor emphasizes the importance of tourism as one of the key factors of economic growth and socio-cultural development of the country, noting its impact on various aspects of society. The article analyzes the current legislation, identifies the main problems of legal regulation and law enforcement practice in the field of ensuring tourism security. The tasks requiring scientific resolution are formu-lated.

Today nations across the globe are striving to achieve sustainable development. Additionally, natural resources, industrial output, economic expansion, environmental technology, and the current globalization era are thought to be the key indicators that directly cause environmental deterioration. As a result, a more thorough evaluation of the state of the ecosystem is required. The current study examines the dynamic relationship between the load capacity factor for the E7 countries from 2000 to 2022 and globalization, industrial output, economic growth, environmental technologies, and natural resources. Furthermore, for reliable and effective results, the current study uses cointegration, long-run elasticity calculation, and second-generation panel unit root tests to validate the existence of cross-sectional dependency. The research revealed that while other possible causes like globalization and industrial output lead to greater environmental degradation, natural resources and environmental technologies significantly reduce environmental deterioration. Several policy recommendations are developed to combat and manage the environmental effects of the E7 based on these empirical findings.

The development of small and medium enterprises (SMEs) is a key factor in economic growth and innovative development in the modern era of globalization and digital transformation. This article explores strategic approaches to SME development, analyzing theoretical aspects and practical models that contribute to the sustainable growth of this sector. Special attention is given to the role of government support, institutional factors, and the implementation of innovations. An analysis of existing strategies based on literary sources is conducted, identifying the main challenges and prospects for SME development in Russia. The article also offers recommendations for improving strategic approaches aimed at enhancing the competitiveness and resilience of SMEs. A tabular analysis demonstrates the effectiveness of various SME development strategies in different regional contexts. The study emphasizes the need for a comprehensive and interdisciplinary approach to achieve sustainable SME development, as well as the importance of collaboration between government bodies, the private sector, and academic institutions.

Background Corruption, a multifaceted governance issue, impacts public well-being globally. The recent trends reveal a rise in suicide rates across the Americas, while all other regions show declines over twenty years of time. This study investigates corruption’s effect on suicide in 26 American countries, considering moderating factors of unemployment, inflation, and economic growth. Methods This study analysed latest two decades of available data, using stepwise panel regression method to investigate the effects of corruption and economic variables on suicide across income levels. Data were sourced from Transparency International, World Bank and the World Health Organization. Initially, unit root tests and CUSUM plots were used to ensure the stability and stationarity of the dataset, and model specification were validated through F test, LM test and Hausman test to select the ideal econometric model - POLS, REM, or FEM for the study. Results A strong suicide rate persistence revealed, particularly in high-income countries, where the lagged suicide variable showed a coefficient of 0.8063 (p < 0.001). Corruption significantly impacted suicide rates in upper-middle-income countries (coefficient = -0.0268, p < 0.05), with higher corruption perceptions scores correlating with lower suicide rates. Additionally, unemployment acted as a significant moderator, intensifying the corruption’s adverse impact on suicide with a coefficient of 0.0022 (p < 0.001) in upper-middle income nations. Economic growth demonstrated a minor protective effect, particularly in high-income regions, with an interaction coefficient of -0.0005 (p < 0.1), suggesting slight suicide reduction linked to economic stability. Conclusion This study found that corruption, unemployment, and economic growth significantly influence suicide rates across the Americas. Corruption exacerbates suicide risks in upper-middle-income countries, while unemployment amplifies this effect. Economic growth offers a slight protective effect, particularly in high-income regions, suggesting that economic stability may help mitigate suicide rates.

Smart cities as a factor of economic growth: system analysis and development prospects

The study aimed to analyse the impact of digital innovations on accounting and the efficiency of the financial processes of enterprises. The methodology included an analysis of the financial performance of Kernel, one of the leaders in Ukraine’s agricultural sector. The key financial indicators of the company were compared before and after the introduction of digital innovations, such as the automation of accounting processes, the use of optical character recognition and the introduction of electronic consignment notes. The study analysed how modern accounting automation technologies, machine learning, data analytics, forecasting algorithms, artificial intelligence (AI) for anomaly detection, cloud technologies and blockchain have changed approaches to accounting, reducing costs, and increasing the accuracy and transparency of financial reporting. The study results demonstrated that the introduction of digital tools allowed Kernel to significantly improve its key economic indicators. Revenues grew from USD 2168.9 million in 2017 to USD 3581 million in 2024 (+49% compared to 2018). The company’s earnings before interest, taxes, depreciation and amortisation increased from USD 319.2 million to USD 381 million (+71%), and net profit in 2024 was USD 168 million. The use of electronic consignment notes ensured efficient management of logistics processes, minimised risks and improved product transportation management. The use of digital technologies has helped to increase the efficiency of operations, reduce costs and improve economic performance. The study established that automation of accounting operations through the introduction of digital platforms, such as the system of electronic consignment notes and integration of cloud technologies, has reduced the time for processing financial data, reduced the probability of errors and increased the accuracy of financial reporting. Recommendations for Ukrainian enterprises included the introduction of accounting process automation, which included the use of accounting software, including QuickBooks, as well as the integration of blockchain to increase the security and transparency of financial transactions. The study confirmed that digital innovations in accounting were not only a technological necessity, but also an important factor in the economic growth of enterprises, which reduced costs, improved management decisions, optimised budget control and increased the competitiveness of companies in the market

The fight against climate change is gaining momentum, with a growing focus on reducing carbon dioxide (CO2) emissions and mitigating environmental impacts. Africa, the continent most vulnerable to global warming, faces unique challenges in this context. This study examines the long-term association among CO2 emissions, economic growth, and different socio-economic factors in 36 African countries from 1990 to 2020. Employing the Pooled Mean Group (PMG) estimator with Autoregressive Distributed Lag (ARDL) model, along with U-test and Dumitrescu and Hurlin causality analyses, our study reveals substantial long-term connections amongst CO2 emissions and factors such as economic growth, trade openness, renewable energy consumption, urbanization, and population dynamics. The findings support the Environmental Kuznets Curve (EKC) hypothesis, indicating that CO2 emissions initially increase with GDP per capita growth but begin to decline after a turning point at approximately 10,614.75 USD. However, the evidence for this turning point remains weak, suggesting that most African countries have not yet achieved decoupling. Renewable energy consumption and urbanization are negatively associated with CO2 emissions, while trade openness and GDP per capita show positive correlations. Causality analysis reveals bidirectional relationships among most variables, except for population growth and CO2 emissions, which may involve other moderating factors. The findings highlight the urgent need for integrated policies that advance sustainable development by focusing on renewable energy adoption, sustainable urbanization, and green growth strategies. Policymakers should prioritize initiatives that harmonize economic growth with environmental sustainability, ensuring a lasting balance between development and ecological preservation across Africa.