Factor Of Economic Growth Research Articles

In the context of the fourth industrial revolution, digitalization of education is acquiring key importance as a factor in sustainable economic growth and formation of human capital. The aim of the study is a comprehensive analysis of the impact of digital educational platforms on professional education and the labor market. The article discusses the features of the integration of digital technologies into the educational process, the transformation of goals and forms of training, as well as changes in the structure of interaction between students, teachers and employers. Examples of using digital platforms in the secondary vocational education system are given, including practices of personalized learning, skills certification, and the formation of digital competencies. Particular attention is paid to the challenges of digitalization: digital inequality, a shortage of competencies among teachers, a decrease in student motivation, and cybersecurity threats. The author emphasizes that successful digital transformation of education requires coordinated efforts by the state, business, and the scientific community, as well as investments in infrastructure, pedagogical support, and methodological resources. It is concluded that digitalization is not just a technological trend, but a necessary condition for adapting the educational system to the challenges of the global economy and the future labor market.

The aim of the study is to analyze the part that the Gulf countries – Saudi Arabia and the United Arab Emirates (UAE) – play in the global petrochemical industry. Petrochemistry remains one of the main factors of global economic growth, what opens up significant prospects for the development of this industry for countries with an extensive and cost-competitive resource base. For the two critically dependent on the production and export of crude oil countries, the development of petrochemicals is an expectable choice, both in terms of diversifying the production structure and commodity exports, and in terms of increasing the sustainability and global competitiveness of national companies. The article analyses the dynamics of production and export of petrochemical products from Saudi Arabia and the UAE. It’s argued that both countries orient towards external demand and export petrochemical products mainly to developing countries. The national petrochemical companies of the UAE and Saudi Arabia, primarily Saudi SABIC, are among the world’s leading petrochemical concerns. Internationalization has become a key direction of their corporate strategies. On the one hand, Gulf petrochemical companies are forming joint ventures and developing partnerships with Western petrochemical concerns. On the other hand, they have stepped up their participation in the construction of new production facilities in countries with rapidly growing demand for petrochemical products, China and India. The internationalization strategy is subordinated to the solution of two main tasks. Firstly, petrochemical complexes created in the Asia-Pacific region with the participation of Saudi and Emirati companies allow oil-producing companies of the two countries to conclude long-term contracts for oil export. Secondly, these projects open direct access to local markets. As China and other major Asia-Pacific countries increasingly seek to localize their petrochemical production, internationalization is becoming the only way for Saudi and Emirati companies to maintain and expand their market niches. A qualitative breakthrough in this direction was the UAE’s decision to create a new, very large, transnational petrochemical company of global significance with the Austrian company OMV. Development of petrochemistry inevitably leads to an increase in greenhouse gas emissions. Nonetheless, choosing between the task of maintaining high economic dynamics and the imperatives of decarbonization, both Saudi Arabia and the UAE have made a choice in favor of an economic growth.

This paper is to analysis the complex relationship between fiscal deficit, money supply, GDP growth, and inflation in India, Research has given more importance on these factors for economic stability and growth during 1970- 2020. Fiscal deficit occurs when the government revenue is less than expenditure made by the government, the result of which is an increase in the national debt. Government borrowings will leads to an increase in the money supply that will result to inflation introduce the purchasing power government uses fiscal and monetary policy to prevent and control the inflation and to support the growth of the economy. From 1971 to 2020, India’s GDP growth, inflation, and money supply were volatile. Ordinary Least Squares applied the long-run model to estimate the relationship between variables. Due to the risk of spurious results from unit root issues, further analysis was conducted using Augmented Dickey-Fuller test. ADF test results showed that GDP and inflation were stationary at their levels, and the money supply was stationary at its first difference. The ECM indicated that any short-term disequilibrium in GDP growth adjusts back towards its long-run path over time. The finding show a significant result which leads to confirmation that change in inflation and money supply has a significant impact in Indian economic growth in terms of short run and long run.

Mass media play a key role in modern society, acting not only as a source of news and information, but also as a powerful tool for influencing economic processes and sustainable development. In the context of globalization and digitalization, the media are becoming an important factor in shaping public opinion, promoting innovation and stimulating economic growth. In this article, we will look at how the media contributes to economic development and sustainability, as well as what challenges and opportunities they face in this process.

The article examines the assessment and some conclusions about the nature of modern institutional cyclical dynamics in Russia and Central Asian countries in the context of global instability. The purpose of the work. The role of the institutional environment as a key factor of sustainable economic growth is emphasized. The limitations of existing methods for assessing the quality of institutions are analyzed, and the need to adapt Western models to the national characteristics of Central Asian countries is emphasized. It highlights the importance of protecting property rights and contracts, as well as the institutional consequences of corruption and the shadow economy. Practical recommendations are given on institutional coordination within the EAEU, monitoring reforms and borrowing successful practices from the region's leading countries. Methodology. The research uses methods of historical and economic analysis, theory of industrial and technological balance of the economy, system paradigm, evolutionary and institutional theory, expert and analytical assessments. Results. The scientific novelty of this study lies in the critical assessment of the applicability of international institutional indexes to the conditions of the Central Asian countries and Russia, as well as in the development of recommendations on institutional coordination in the Eurasian space. For the first time, based on a comprehensive interpretation of international ratings and empirical data, the need for differentiated institutional cooperation is justified, taking into account the specifics of national systems. The limitations of existing models for evaluating institutions have been identified, including methodological opacity and politicization of sources, which highlights the need to develop alternative monitoring and evaluation mechanisms. Conclusions. An approach to building a multi-level system of institutional borrowing and adaptation is proposed, focused on reducing transaction costs, combating corruption and increasing confidence in management practices. These proposals are aimed at forming a stable institutional framework for integration cooperation within the EAEU.

The rapid growth of health-care costs has become one of the main challenges to the sustainability of public finances worldwide. The persistent rise in health-care expenditure and concerns about its long-term fiscal sustainability highlight for policy-makers the need to design effective cost-containment strategies. To this end, identifying the shocks that determine the growth of health-care expenditure and measuring their magnitude constitutes the first and most important step in containing the growth of health-care costs. Therefore, the main aim of this study is to examine the dynamic relationship among health expenditure, economic growth, and total factor productivity (TFP) across the provinces of Iran. This research is causal-comparative and belongs to the category of descriptive-correlational studies. To probe dynamic relationships and to observe the behavior of the study variables in response to shocks originating from other variables, a panel vector autoregression (PVAR) model was employed over the period 2001–2019. Total factor productivity was calculated using the Solow residual method. The impulse-response functions indicate that a GDP shock induces a positive and oscillating response of health expenditure and TFP to that shock. Likewise, a TFP shock induces a positive response of GDP and health expenditure to that shock. Variance decomposition of health expenditure shows that changes in this variable over a ten-year horizon are driven by total factor productivity, the inflation rate, GDP, and education.

This research investigates the impact of inflation on economic growth within the Ghanaian economy, a subject of ongoing debate among economists and policymakers. Eradication of purchasing power together with misdirected investment decisions has been noted by both Fischer and Mishkin as complex issues when examining macroeconomic goals for developing nations along with price stability and GDP growth promotion. A small amount of inflation may boost economic production and demand according to the authors but excessive inflation creates investment barriers and limits long-term development. The annual consumer inflation in Ghana rose to 23.8% during December 2024 based on data from Trading Economics which sparked economic worry. World Bank statistics indicate that this research seeks to guide policymakers through their development of monetary tools and fiscal instruments which sustain price stability and enduring economic expansion within Ghana. Studies about how inflation affects GDP expansion in Ghana show contradictory information. general inflation rates seem to foster GDP growth by motivating producers to boost production for increasing profits. Research findings show that high inflation generates negative effects on GDP expansion. The research studies show discovered co-integration between economic growth and macroeconomic factors alongside inflation in Ghana. The study discovered that inflation reduces Ghana’s economic growth since it requires powerful monetary policy intervention to address this issue. The discrepant research findings show that additional studies are needed to understand the particular effects that inflation has on Ghana’s economic expansion. The research used time series data spanning 2000–2018 while applying vector autoregressive (VAR) models for its analysis. Statistical analysis of the study showed that general inflation and low inflation levels foster GDP expansion yet high inflation rates together with government expenditure act as growth inhibitors (WJARR, 2021). The complex findings demand careful policy decisions which take into account both Ghana’s inflation situation and economic framework.

Energy is one of the basic inputs used in production and consumption areas in our age. The demand for energy is increasing day by day due to changes in production and consumption behaviors. Energy policies and strategies are considered among the important factors affecting the economic growth levels of countries. Energy, which is used as an input in production, is recognized as one of the main factors of economic growth. In this sense, access to energy resources puts countries in an advantageous position in terms of economic competition. The Eastern Mediterranean, which has been at the center of international attention in terms of energy resources in recent years, has attracted the attention of the whole world with its rich hydrocarbon reserves. Countries in the region continue their activities in a stable manner. Great powers aim to be effective in this region in a way to protect their own interests. The aim of this study is to examine Türkiye’s policies and strategies regarding the energy resources in the Eastern Mediterranean and to analyze its status in the region.

Problem setting. Ukraine's integration into European and global research infrastructures is an extremely urgent task that is crucial for the development of the country's scientific sector. The problem of integration covers several key aspects: 1. Lagging behind in research: Ukrainian science faces serious challenges, such as outdated infrastructure, insufficient funding and limited opportunities to conduct modern research. This leads to a lag in comparison with European and global countries. 2. Outflow of scientific personnel: Many talented scientists and researchers leave Ukraine in search of better working conditions and career development abroad. This creates a shortage of qualified personnel and reduces the competitiveness of the scientific community, etc. Analysis of recent researches and publications. Among domestic scholars, attention is drawn to the works of: Pavliutina Y., Holovashchenko O., Shapovalova O., etc. Publications in journals such as Research Policy and Science and Public Policy emphasise the importance of Ukraine's participation in EU programmes such as Horizon Europe to improve the competitiveness of its science. Studies conducted under such programmes show that Ukraine has the opportunity to participate in international projects, gaining access to funding and new technologies. Target of research. To study and analyse the process of Ukraine's integration into European and global research infrastructures, to identify the main challenges and opportunities that arise in this context, and to assess the impact of integration on the development of scientific activity in Ukraine. The article aims to emphasise the importance of international cooperation in science, identify key strategies to improve access of Ukrainian researchers to global research networks and resources, and consider the role of public policy and funding in supporting this integration. Article’s main body. Ukraine's integration into European and global research infrastructures is an important stage in the development of the country's scientific activities and innovation potential in the international arena. In today's world, science and technology are becoming key factors for economic growth, social progress and national security. This provides Ukrainian researchers with access to modern technologies, resources and international collaborations. Ukraine has a strong scientific base consisting of numerous universities, research institutions and research laboratories. However, despite its considerable scientific potential, the country faces a number of challenges, such as insufficient funding for science, outflow of personnel, outdated infrastructure and limited access to international projects. Ukraine has signed an association agreement with the European Union, which includes a commitment to integrate into the European scientific community. Conclusions and prospects for the development. Ukraine's integration into European and global research infrastructures is a complex but necessary process for the development of science and technology in the country. This will require efforts from the government, the scientific community and business. Only through joint efforts can we overcome the existing challenges and realise the potential of Ukrainian science at the international level.

Globalization and economic growth can be considered not only as threats to environmental sustainability, but also as factors that ensure the green development of states whose governments are able to use these tools. The article highlights the relevance of green development as a core component of sustainable development, focusing on the Kingdom of Jordan. The current state of the ecology of Jordan is not positive at all, as it is experiencing dangerous natural and anthropogenic impacts. This, in turn, causes climate change, water scarcity, desertification and a decrease in biodiversity. In this article, we have assessed the factors of economic growth and globalization in the green development of the Kingdom of Jordan. This was implemented by studying the quantity and quality of natural resources and human resources available for economic activity within Jordan. Among the factors of globalization, in the context of Jordan, we considered such as: the destruction of patriarchal ties (changing the role of women in society), the development of civil society and the construction of a legal state. This research emphasizes the critical need for sustainable strategies to balance economic growth and environmental preservation, situating Jordan as a pivotal case study for developing economies. The theoretical result of the current study was the identification of a large number of problems in the processes of globalization and economic growth of the Kingdom of Jordan, which prevents the effective use of their advantages to ensure green development. This result confirmed the need for regular participation of developing countries in the programs of international organizations, which allows their governments to receive high-quality development plans and numerous expert advice on various issues. The practical result of this article is the algorithm we proposed to accelerate the green development of developing countries. It can be used by both representatives of state bodies and independent advisors or experts

This study examined the causal relationships between inflation, Gross Domestic Product (GDP), domestic savings, and investment in Zimbabwe using Toda-Yamamoto causality tests and the Autoregressive Distributed Lag (ARDL) approach with secondary data spanning from 1990-2022. The Granger causality analysis revealed a bidirectional causal effect between inflation and GDP, indicating that inflation significantly impacts the country's economic growth. Additionally, the analysis showed a unidirectional causal relationship from inflation to domestic savings, suggesting that high and persistent inflation can erode the value of existing savings and discourage individuals from saving. Furthermore, the study found a distinct causal flow from savings to investment, without feedback in the opposite direction, highlighting the crucial role of a robust savings culture in providing the necessary foundation for sustained investment and economic growth. The ARDL approach provided further insights into the dynamic relationships between these variables. In the short run, lagged GDP and current and lagged savings positively influenced GDP, while the second lag of savings had a negative impact, supporting the Carroll-Weil hypothesis that savings typically follow, rather than precede, economic growth in the short run. The analysis also found a positive short-run and long-run relationship between investment and GDP, supporting the view that investment is an important factor of economic growth. The study recommends that the policy makers can leverage the synergies between savings, investment, and inflation management to foster sustained economic growth and development in line with the government development policies. Developing policies to attract savings and reduce the cost of savings, as well as promoting long-term savings over transactional savings, can increase the country's overall savings base.

Human capital is a critical factor of economic growth and economic development. In the last few decades, scholars, economists, and policymakers have paid close attention to the significance of human capital as they have attempted to understand the complex relationship between a country's economic growth, and quantity and quality of its labor force. Therefore, all countries are building up their economy with their spending so that they can achieve sustainable and equitable economic growth. This study aimed to investigate the impact of government spending on education and health, life expectancy at birth and secondary school enrollment on the economic growth of 48 Asian countries from 2014 to 2021. From the diagnostic test and Hausman test, the study found fixed effect model as the best model to describe regression. Due to the problem of heteroskedasticity, a robust fixed effect model was employed. The results found that gross fixed capital formation, government expenditure on health, life expectancy at birth, secondary school enrollment have positively and significantly influence economic growth, whereas government expenditure on education and population growth have negatively and significantly influence economic growth in Asian countries. Most of these countries are facing several economic, political, and social issues and among all they are facing a vicious circle of poverty. The rapid rise of the population may put strain on limited resources, while deficiencies in the distribution of funds for education could hinder economic advancement. Therefore, authorities should consider implementing population management measures and optimizing education expenditures to align with economic goals. Overall, the study provides a comprehensive and inclusive framework for understanding and fostering economic growth in Asian countries.

This research aims to measure the level of influence of processed fish product quality, TPI management, and dock infrastructure on the economic development of Branta Pesisir Village in Pamekasan Regency, East Java Province. Branta Pesisir Village has resources that are used as capital to develop the economy. However, the dock and TPI infrastructure resources are not directly within the administrative area of the Branta Pesisir Village Government and in addition the village community is able to produce processed fish products that have added economic value. Economic development can be measured through economic growth influenced by supporting factors, utilization of marine products, docks, and fish auction sites located in the village area. A quantitative approach was applied in this study with primary data analyzed using multiple linear analysis methods. The results showed that the quality of processed fish products, TPI management, and dock infrastructure simultaneously had a positive and significant effect on the economic development of Branta Pesisir Village by 63.7%, these results recommend economic development of Branta Pesisir Village by empowering the community to increase the value of economic growth factors both directly and indirectly on the capacity of fish products, the quality of TPI management and maintaining dock infrastructure so that these three variables become strong factors driving independent and sustainable economic development.

The State Governance of Intellectual Capital as a Factor of Economic Growth: A Case of the Resource-Oriented Economy of Kazakhstan

The article examines global development trends affecting income distribution and the state of economic inequality. It exposes that the dominant model of neoliberal economic liberalisation turned to be, in recent decades, a powerful factor of the growing economic inequality among different countries and, to a lesser extent, between different strata within national economies. The unfolding of the Fourth Industrial Revolution and radical technological transformations worldwide is becoming a new factor of the potential growth of inequality due to uneven impact of this factor on different sectors of the economy and types of production, and therefore on the dynamics and profitability of various professions. The study shows that the factors of economic inequality growth are matched by countervailing factors strengthening the trend of inclusive development. Technological factors can create opportunities for income equalisation under a properly constructed strategy of technological innovations and strengthening the adaptation capabilities of different groups of workers and different social strata to structural and technological shifts. The author shows that global trends are manifested in Ukraine in a specific way, primarily due to a long period of stagnation in the innovation process within the country. However, this characteristic must be eliminated in the process of technological enhancement of the defence potential, post-war economic recovery of the country on a new technological basis, and adaptation to the conditions of EU membership, bringing development trends within the country closer to global trends and European standards. In this context, an important role, according to author, should be played by the process of active implementation within national economies of the recommendations of leading global organizations and forums dealing with issues of socio-economic development, as well as the guidelines of the European Union’s cohesion policy.

In the context of the global economy and growing competition within the country and on the international market, the development of entrepreneurial ecosystems is an important factor for sustainable economic growth. The author distinguishes between the concepts of “entrepreneurial ecosystem” and “cluster”. In a new view of entrepreneurial ecosystems as dynamic structures that go through the stages of birth, formation, development, maturity, stabilization, renewal or decline, according to the author’s methodology, special attention is paid to the mechanism of prolongation of growth stages due to the influence of clusters. The integration of life cycle theory and clusters provides a new perspective on entrepreneurial ecosystems through the lens of clusters. The novelty lies in the role of clusters as an effective approach that promotes interaction between business, government and science to accelerate innovation processes, create sustainable cooperation networks, attract investment and reduce barriers to entry of new entrants to the market. To substantiate the decision to select the largest entrepreneurial ecosystems, a comparative analysis was carried out for the Novosibirsk Region in the context of the regions of the Siberian Federal District, for the Republic of Tatarstan – in the context of the regions of the Volga Federal District. An analysis of the economic sectors of the studied regions revealed that entrepreneurial companies not only operate in the main ones, but also form related industries. It is revealed that the industry association leads to the creation of new industries of the sixth technological order and the production of competitive goods and services, which creates an additional need for investments for the development of innovation activities by entrepreneurial ecosystem companies. The use of the OTSW analysis tool (according to V. L. Quint’s method) is substantiated. This article will help determine the approach when making a management decision to increase the vital activity of the entrepreneurial ecosystem. The formation of clusters will improve the interaction between ecosystem participants, develop entrepreneurship and stimulate innovation in the country’s regions.

In the modern world, the exchange of various types of information is of key importance and is one of the global connecting factors in economics, geopolitics and intercultural relations. With the increasing pace of industrialization and militarization of society, the exchange of information is becoming especially relevant in the field of management of various types of corporate and information activities. In many developed countries, information technologies are truly becoming a leading factor in economic growth. In the USA, Europe, Japan and many countries of Southeast Asia, the state is taking special measures to promote information technologies in all areas of business and public administration. Therefore, the purpose of the research is to study the impact of the ICT sector on the development of the country using the example of the EEU.

The state, dynamics and development trends of the machine-building industry of Ukraine were studied. The nature and features of the technological component of the innovative development of the industry are determined, the current state and dynamics of the innovative development of mechanical engineering are investigated. This made it possible, taking into account both components, to identify problem areas of the technological innovation development of the mechanical engineering of Ukraine. Within the framework of the study, the peculiarities of the functioning of micro, small and medium-sized machine-building enterprises (MSMEs) regarding the introduction of technological innovations into the production process and their acquisition of competitive advantages are considered. It is noted that the innovative activity of MSMEs is one of the main factors of the country's economic growth and ensuring, in the conditions of market competition, its sustainable economic and social development. The theoretical foundations, the state of innovation processes and their influence on the formation of innovative activity of industrial enterprises are considered. It is noted that innovative technologies are a key factor in the success of modern business, their implementation allows enterprises to maintain competitiveness, attract and retain customers, as well as stimulate their development and growth. It is noted that the Fourth Industrial Revolution ("Industry 4.0") manifests itself in the minimization of human intervention in production, when various systems are combined with each other, data is exchanged and the decision-making process is automated. It was found that, during the full-scale war ongoing in Ukraine, the role of MSMEs in the economy has increased significantly. Micro, small and medium-sized enterprises began to produce machine-building products for military purposes within the framework of a defense order. In the course of the study, statistical data on the functioning of machine-building enterprises of Ukraine during the last 10-12 years were analyzed, the main regularities of their changes were established, and the main factors that influenced this process were determined. Proposed ways to reduce the negative impact of these factors on the development of MSMEs in the machine-building industry, recommendations for the introduction of technological innovations and other components of "Industry 4.0" into the processes of automation of production processes at machine-building MSMEs of Ukraine in order to obtain certain competitive advantages.

Exports are one of the main factors in a country's economic growth, including Indonesia. Indonesian tuna fish exports are one of the leading export commodities marketed in international trade and have a positive impact on the national economy. This research aims to analyze the simultaneous influence of the exchange rate, inflation rate, and FDI on Indonesian tuna exports to the United States and to analyze the influence of the exchange rate, inflation rate, and FDI partially on Indonesian tuna exports to the United States. The analysis technique used is multiple linear regression analysis. The results of data analysis show that the exchange rate, inflation rate and FDI simultaneously have a significant effect on the value of Indonesian tuna exports to the United States in 1990-2020. Partially, the exchange rate has a positive and significant effect on the value of Indonesian tuna exports to the United States. Meanwhile, the level of inflation and FDI do not have a negative and partially significant effect on the value of Indonesian tuna exports to the United States.

The article conducts a comprehensive study of the relationship between innovation, economic sustainability and sustainable development, which are key factors of modern economic growth. The theoretical foundations of these concepts, their interaction and significance for the formation of a competitive economy are revealed. The main mechanisms for introducing innovations in various sectors of the economy and their role in ensuring long-term economic stability are identified. Strategic approaches to innovative development are outlined, which contribute to increasing the adaptability of economic systems to global challenges. Economic sustainability is analyzed as the ability of a system to maintain and strengthen its structure under the influence of internal and external factors. It is determined that economic sustainability largely depends on the level of technological innovations, their scale and pace of integration into production and management processes. Mechanisms for increasing economic sustainability based on the effective use of innovative resources, including financial, technological and intellectual assets, are investigated. Sustainable development is considered as a concept that includes economic, environmental and social components. The main principles of sustainable development are determined, including: rational use of resources, minimization of negative impact on the environment, creation of favorable conditions for social progress. It is proven that the integration of innovation strategies is one of the key factors in achieving sustainable development, as it contributes to increasing the efficiency of the use of natural and production resources, reducing environmental risks and increasing the well-being of the population. Particular attention is paid to practical aspects of implementing innovation strategies in various sectors of the economy. Examples of successful application of innovative technologies in industry, the agricultural sector, energy and the service sector are given. The impact of digitalization, automation and artificial intelligence on the transformation of business processes and increasing labor productivity is studied. The role of state policy in stimulating innovative activity, creating favorable conditions for the development of entrepreneurship and attracting investments in scientific and research activities is considered. The results obtained can be used to develop effective economic policies and management decisions aimed at increasing the innovation potential of the economy. Recommendations are proposed for the development of strategies for sustainable economic development, taking into account modern technological challenges and global trends. The presented conclusions can become the basis for further scientific research and practical application in the digital economy.