Global Economic Development Research Articles

Debt load as a fundamental factor of changes in the conditions of global economic development

The relevance of the problems investigated in the article is determined by the fact that the world economy fragmentation worsens its dynamics, but its actual fragility became relevant after the global crisis of 2008–2009. In this regard, developing countries are increasingly characterized by extreme risks associated with the global markets’ instability – not only commodity markets, but also financial ones, where the innovative derivatives expansion has increased the speculators’ role, thereby making commodity markets more volatile. The overall situation is aggravated by debt problems in many countries. The purpose of the study is to investigate the nature and extent of the debt burden that has developed in the global economy in recent years and to assess the key challenges facing the monetary policies of countries around the world in order to counter the rising debt burden. The main results of the study include the assessment of the scale and nature of the debt burden in terms of its negative impact on global economic development, identification of the relationship between the business cycle passage and the debt accumulation in foreign countries, as well as the main directions of prospective monetary policy that will contribute to the debt burden reduction in the foreseeable future.

Exploring the Development Trends of the International Consumer Market Based on Economic Globalization

It is well-known that international trade is crucial for a country's economic status on the global stage, prompting nations to focus on the development of their trade sectors. Various measures are employed to compete for shares in the international market. For example, some economies, in pursuit of national interests, resort to trade barriers, which impacts the liberalization of trade. Currently, the global economic development trend is unclear, and the international trade environment is becoming increasingly complex with the emergence of new technologies and demands, leading to new trends in international trade. In this context, international trade enterprises must actively engage in this trend, grasp the new development trends, and bravely face challenges. This paper mainly discusses the basic concepts of economic globalization and international trade, analyzes the development trends of international trade under economic globalization, and proposes the current status and strategies for international trade development under the backdrop of economic globalization.

Трансграничная торговля в условиях цифровой экономики

In the digital economy, cross-border trade has become an integral part of global economic development. At the same time, it is a complex and dynamic process that requires a professional approach and special knowledge. Cross-border trade includes all types of commercial transactions carried out between countries. The basis of such trade is the exchange of goods, services and investments between countries. However, in the digital age, e-commerce or e-commerce is becoming more relevant and developing. To date, or rather, after the start of the Covid-19 pandemic in 2020, the number of purchases on Russian Internet platforms has increased. This article will analyze international trade, as well as the legal regulations governing this area.

About the Potential Impact and Future Trends of Artificial Intelligence on Global Economic Development

About the Potential Impact and Future Trends of Artificial Intelligence on Global Economic Development

Plant Flavonoids with Antimicrobial Activity against Methicillin-Resistant Staphylococcus aureus (MRSA).

Methicillin-resistant Staphylococcus aureus (MRSA) has become a serious threat to human public health and global economic development, and there is an urgent need to develop new antimicrobial agents. Flavonoids are the largest group of plant secondary metabolites, and the anti-S. aureus and anti-MRSA activities of flavonoids have now been widely reported. The aim of this Review is to describe plant-derived flavonoid active ingredients and their effects and mechanisms of inhibitory activity against MRSA in order to provide insights for screening novel antimicrobial agents. Here, 85 plant-derived flavonoids (14 flavones, 21 flavonols, 26 flavanones, 9 isoflavones, 12 chalcones, and 3 other classes) with anti-MRSA activity are reviewed. Among these flavonoids, flavones and isoflavones generally showed the most significant anti-MRSA activity (MICs: 1-8 μg/mL). The results of the present Review display that most of the flavonoids with excellent anti-MRSA activity were derived from Morus alba L. and Paulownia tomentosa (Thunb.) Steud. The antibacterial mechanism of flavonoids against MRSA is mainly achieved by disruption of membrane structures, inhibition of efflux pumps, and inhibition of β-lactamases and bacterial virulence factors. We hope this Review can provide insights into the development of novel antimicrobials based on natural products for treating MRSA infections.

Theoretical Justification for the Implementation of Special Economic Zones: The Case of Luanda-Bengo Economic Zone in Angola

Purpose: In the present study, a literature review was carried out on theories of regional development, namely: the classic ones, those with an emphasis on agglomeration factors, and new theories of regional development. It intended to provide a theoretical foundation for implementing special economic zones, contextualizing the analysis to the Luanda-Bengo Special Economic Zone. Materials and Methods: Thus, the document analysis technique was used to review relevant literature on regional development and its main supporting theories. Findings: It was possible to achieve three main results: that the existence of hubs that bring together population and capital play a central role in the location of commercial and industrial activities; that companies come together in a logic of cooperation, innovation competitiveness, and ZEELB, as a hub of industrial activity, is no exception. Finally, the factors that determine the location and spatial agglomeration of economic activities, as well as the relationships of interdependence established between the various driving and driven units, possible in a ZEE, are also present in the foundations of adopting ZEELB operations. Implications to Theory, Practice and Policy: Theories about the location and agglomeration of economic activities in geographically, customs, and legally demarcated spaces, such as ZEELB, should be used in studies for future implementations of similar projects. Exchange between academia and structuring investment planning bodies such as ZEELB, so that based on its adoption as part of the global economic development strategy, is necessary. Public policymakers should see ZEELB as an opportunity to serve as a laboratory for policies at the following levels: tax, customs, regulatory, commercial, and management

Mapping Fiscal Research Trajectories through Bibliometric Analysis: Echoes of Global Crises in Central and Eastern Europe

Abstract World economies have faced numerous crises throughout history. Fiscal issues have accordingly become a crucial aspect of economic policy discussions, particularly in Eastern Europe, a region shown to be especially vulnerable to the recent economic shocks. The paper therefore aims to provide a bibliometric examination of trends in fiscal research via the lenses of major economic and financial crises. The bibliometric analysis is based on 6,640 documents published between 1970 and 2022 and indexed in the Scopus database. The results reveal that fiscal research associated with crises has grown sharply over time, with significant bursts one year following each major economic and financial crisis. The most cited journal articles in fiscal research highlighted the following issues in all countries, including Central and Eastern European (CEE) countries: economic reform policies (1970-1997), economic development and financial conditions (1998-2008), crises in Europe and post-crisis recovery (2009-2019) and post-crisis recovery and effects (of the COVID-19 pandemic) on the public and business sectors (2020-2022). As well as identifying key countries and journals, although diverging in approach and scope the findings show shared interests in macroeconomic policy, fiscal stability, and the impact of crises on economic performance and public finance. Developed countries have addressed complex global economic issues and advanced development, whereas Central and Eastern European nations have focused on the transition from planned to market economies. This observation reflects their distinct economic paths and fiscal research interests, as revealed in detailed content analysis by subperiods. The findings maybe of benefit for both the scientific community and evidence-based policymaking.

Improved performance evaluation of a dual passage solar thermal collector using staggered turbulators

Energy exists in various forms and plays a crucial role in global economic development and modernization. Solar energy is a prominent choice among several alternatives as an energy source to meet the demand. To harness solar energy for heating applications, the most basic approach is to transform it into thermal energy through the use of solar thermal collectors (STC). The thermal effectiveness of the dual passage solar thermal collector (DP-STC) is particularly poor. An effective approach to enhancing its thermohydraulic performance (ηTHPP) involves employing turbulators on the absorber plate (AP). This study investigates the impact on ηTHPP of DP-STC providedwith single V-shaped staggered baffles (SVSSBs). The impact of various geometrical elements, such as relative staggered baffle position (PB′/PB) ranging from 0.45 to 0.75, relative staggered baffle size (B/HB) from 2.5 to 4.0, and relative roughness pitch (PB/HB) from 1.0 to 2.5, are investigated for Reynolds numbers (ReX) ranging from 3000 to 19000. The remaining geometrical parameters, including the relative roughness height (HB/HC) = 0.40, relative gap position (Gd/Lv) = 0.67, relative gap size g/HB = 1, and angle of attack (αB) = 60°, remained fixed. Notable among the findings of this research is the fact that, SVSSBs performed best in comparison to other turbulators reported in the literature review. The ηTHPP reached its maximum value of 3.67 for the case with SVSSBs with PB/HB = 1.5, PB′/PB = 0.65, andB/HB = 3.5 atReX = 17000. The correlations are also developed for the Nusselt number (NuBP) and friction factor (fBP), using experimental data.

Cross-country spillovers of trade uncertainty and their formation mechanisms

This paper extends the study of uncertainty issues to the field of international trade, systematically identifies trade uncertainty in 15 representative countries using the DF-SV model, and deeply explores the cross-country spillover effects and their formation mechanisms of international trade uncertainty. Empirical results indicate that trade uncertainties and their cross-country spillover effects are sensitive to major economic and trade crisis events, during which there is a widespread transnational transmission of trade uncertainties, particularly among economic and trade partners. Developed countries are often net givers of trade uncertainty spillovers, while developing countries are net receivers. Further research finds that in countries with greater economic openness, exchange rate fluctuations, and trade uncertainty, the spillover effects of trade uncertainty tend to be stronger. Meanwhile, enhancing a country's financial openness, exchange rate stability, and the stability of foreign trade can effectively mitigate the trade uncertainty that a country receives. Our work has significant practical significance for understanding and resisting the impacts of trade uncertainties from other countries and promoting stable global economic development.

The Impact of Brand Loyalty on Consumer Purchase Decisions and Analysis of Sustainable Consumption Strategies

Against the backdrop of rapid global economic development, public awareness of environmental protection is increasing, and the integration of brand loyalty with sustainable strategies is an inevitable trend for business development. Brand loyalty is an important indicator of the relationship between consumers and brands. It can enhance consumers' willingness to purchase, reduce consumers' perception of risk, and decision-making costs, bringing stable market share for enterprises. Moreover, due to the increasingly prominent global climate change and environmental issues, companies and society pay more attention to sustainable consumption strategies. Companies should keep pace with the times, emphasize the consistency of brand values with sustainable consumption concepts, provide environmentally friendly and energy-efficient sustainable products and services, and thus promote consumers' green consumption behavior. Therefore, the combination of brand loyalty and sustainable consumption strategies can meet consumers' demand for environmental protection and sustainable development, bring various benefits to enterprises, and is key to achieving long-term stable development.

Corporate social responsibility and firm performance in the financial industry in Vietnam: The mediating role of digital transformation

Purpose: This study evaluated the influence of corporate social responsibility (CSR) initiatives undertaken by banks in Vietnam on their overall performance. Additionally, it sought to examine the relationship between corporate social responsibility and digital transformation efforts within the framework of the ongoing Fourth Industrial Revolution. Design/Methodology/Approach: The research uses a survey sample from Southeast Vietnam, specifically Binh Duong Province, Dong Nai Province, Tay Ninh Province, Ba RIA Vung Tau Province and Ho Chi Minh City. A total of 245 valid questionnaires were gathered from mid- and senior-level executives, senior employees and department heads who have implemented digital transformation strategies in banks. Findings: This study explores the relationship between corporate social responsibility and firm performance in Vietnam's financial industry focusing on the banking sector. The study discovered a favourable relationship between corporate social responsibility (CSR) and enterprise digital transformation as well as a good relationship between CSR and digital transformation and Vietnamese banks' business success. Conclusion: The digital economy has increasingly contributed to global economic development. Today’s digital landscape is undergoing a widespread phenomenon known as digital transformation. Hence, it is crucial to examine the impact of digital transformation on business processes. Practical Implications: The data also supports the idea that digital transformation serves as a mediator between corporate CSR and financial performance contributing to filling the gap when there is limited research in Vietnam on this relationship. Contribution to the Literature: This research aims to help banks in Vietnam enhance operational efficiency when banks actively engage in CSR and digital transformation.

SUSTAINABLE DIGITAL TRANSFORMATION: THE NEXUS BETWEEN ICT AND GLOBAL GREEN ECONOMIC GROWTH

As a new engine to promote global economic and social development, information and communication technology (ICT) plays a key role in the field of modern economy. The aim of this paper is to investigate the nexus between ICT and green total factor productivity (GTFP) on a global scale. An extended data envelopment analysis model (DEA), named WINDOWS-US-SBM, was constructed for calculating the GTFP of 65 countries from 2007 to 2019. This paper empirically analyzes the spatial effect and the transmission mechanism of ICT development on GTFP in countries from different income groups. The results show a prominent imbalance between ICT development and GTFP in various countries. ICT can effectively improve GTFP and play a crucial role in lower middle-income countries. The development of ICT can improve GTFP through technological progress, energy intensity, and trade openness. This paper is helpful to provide policy guidance for the development of ICT and give a new perspective of global green development.

Growth and distribution regimes under global value chains: Diversification, integration, and uneven development

This study investigates the macroeconomic interactions between productive structure and income distribution in the context of Global Value Chains (GVC). Our research goes beyond the traditional scope by presenting a detailed typology that examines how globalisation has amplified uneven development processes on a global scale. This in-depth exploration provides valuable insights into the intricate interplay between global economic integration and regional development disparities, thereby contributing to the broader understanding of growth and distribution in the context of globalisation. We propose a theoretical framework inspired by the Structuralist literature to identify three distinct regimes in globalised production chains: (1) a structure/diversification regime based on the Balance of Payments Constrained Model (BPCM) literature, (2) an integration regime derived from the GVC literature, and (3) a functional income distribution regime in open economies. We use Principal Component Analysis (PCA) to create indices (proxies) for each regime to then identify country patterns within a structured typology. We then analyse growth trajectories and estimate the causal relationship between these regimes and per-capita growth using multiple regression models – fixed effects (FE), instrumental variables (IV), and generalised method of moments (GMM). Our dataset includes data from 60 countries between 1995 and 2018, sourced from the World Development Indicators (WDI), World Input-Output Database (WIOD), Trade in Value Added (TiVA), and the Penn World Tables (PWT). This study significantly enhances the understanding of structuralist growth models by offering a comprehensive and unified narrative on the variety of economic growth regimes within Global Value Chains (GVCs).

Strategic implications of carbon pricing on global environmental sustainability and economic development: A conceptual framework

This study critically evaluates the strategic implications of carbon pricing mechanisms on global environmental sustainability and economic development. Employing a systematic literature review and content analysis, the research synthesizes recent findings from peer-reviewed articles, reports, and policy documents published between 2010 and 2024. The study's objectives include analyzing the effectiveness of carbon pricing in reducing greenhouse gas emissions, assessing its economic impacts, exploring environmental benefits, and understanding the role of international cooperation in enhancing the efficacy of carbon pricing policies. The methodology hinges on a structured search strategy, applying rigorous inclusion and exclusion criteria to ensure the relevance and quality of the literature reviewed. The analysis reveals that carbon pricing, encompassing both carbon taxes and cap-and-trade systems, serves as a pivotal tool for mitigating climate change while fostering economic growth and structural transformation. Key findings highlight the potential of carbon pricing to drive innovation in green technologies, the importance of addressing social equity concerns, and the critical role of international policy coordination in mitigating cross-border carbon leakage and competitiveness issues. The study concludes that carbon pricing mechanisms, when effectively designed and equitably implemented, can align environmental sustainability with economic development goals. Recommendations for policymakers emphasize the need for comprehensive strategies that integrate carbon pricing with broader economic and environmental policies, underscore the importance of international cooperation, and advocate for continued research to refine carbon pricing models and strategies. This research contributes to the ongoing discourse on carbon pricing, offering insights into its potential as a cornerstone of global climate governance and sustainable economic policy. Keywords: Carbon Pricing Mechanisms, Environmental Sustainability, Economic Development, International Cooperation.

Gender Role Dynamics in Economic Development: Challenges and Opportunities for Women's Empowerment

The role of gender in economic development has become a major concern in the context of women's empowerment. This article investigates those dynamics with a focus on the challenges and opportunities faced in women's economic empowerment efforts. Through a comprehensive review of the literature, we explore the role of gender in economic development, explain the various challenges women face in access and control of economic resources, and identify opportunities to increase their empowerment. We also discuss the impact of gender roles in the context of global and regional economic development.

Unveiling the Dynamics of Cryptosporidium in Urban Surface Water: A Quantitative Microbial Risk Assessment and Insights into Climatic and Seasonal Influences

In response to global urbanization and economic development, urban surface water pollution has become a universal challenge and particularly affects densely populated megacities, and Dhaka is no exception. The discharge of 98% of untreated domestic sewage and massive volumes of industrial wastewater from over 7000 industries escalate surface water crises. This study investigates microbial and fecal contamination with particular emphasis on Cryptosporidium in surface water, known for causing waterborne diseases, such as cryptosporidiosis. Findings reveal high Cryptosporidium oocyst concentrations and fecal contamination in various water bodies in Dhaka City. Among the investigated water bodies, the Buriganga River exhibits the highest Cryptosporidium oocyst concentration (46%), while the Balu River, Turag River, Shitalakkhya River, Dhanmondi Lake, Gulshan Lake, Banani Lake, Ramna Lake, and Crescent Lake also present high levels of oocyst concentrations ranging from 21–40%. This study also calculated infection risks and found that the infection risk of swimming is highest during the wet season and is (3.9 ± 2.2 (95% CI: 3.0–5.0)) × 10−2 per swimming event, whereas it is approximately (2.4 ± 1.9 (95% CI: 1.6–3.3)) × 10−2 during the dry season. Annual diving risks are approximately (1.2 ± 0.6 (95% CI: 0.9–1.4)) × 10−2, indicating considerably high risks. Most of the sampling sites generally show significantly higher risks than other study areas like the Mymensingh and Kushtia Districts. In light of these results, we strongly recommend immediate measures to address water quality issues and mitigate the risks associated with Cryptosporidium contamination in Dhaka’s surface water.

Impact of digital economy development on labor force employment

Since the first year of the commercial application of big data, the digital economy has become an important driving force for global economic development and has had a huge impact on the labor employment market. This paper aims to explore how the development of the digital economy reshapes the employment pattern of the labor market. By analyzing the core features of the digital economy, which is highly informative, networked, and intelligent, it reveals the dual effects of the digital economy on the total and structural employment of the workforce and puts forward policy recommendations to address the employment challenges posed by the digital economy. The study finds that, on the one hand, the application of automation technology and artificial intelligence has reduced the demand for traditional low-skilled labor, triggering employment reductions in some industries; on the other hand, emerging digital technologies have created new career opportunities, especially in the fields of data analysis, software development, and digital marketing, which have brought more employment opportunities for high-skilled labor. In addition, the digital economy has given rise to numerous flexible forms of employment.

Analysis of the Impact of RMB Appreciation on China's Economy

Due to the epidemic war and other causes, the global economic development effect is not good situation, China's economy still maintains a strong development momentum, so many countries for the appreciation of the renminbi began to sound, improve the exchange rate which is undoubtedly a very favorable situation for our country, so this article would like to think that the motivation of the appreciation of the renminbi and the impact of the analysis of the summary and generalization of the elaboration.

IoT Based Smart Helmet for Industry Rutuja Kokate

The safety and well-being of industrial workers has become a primary concern for organizations worldwide. One of the critical aspects of industrial safety is the use of personal protective equipment (PPE), including helmets. This project proposes the development of an IoT-based smart helmet designed to enhance the safety and efficiency of industrial workers. The smart helmet integrates multiple sensors, such as temperature, humidity, motion, and gas sensors, to monitor the worker's environment in real-time. These sensors gather data on potential hazards like extreme temperatures, toxic gases, or sudden impacts. The helmet also includes a communication system that enables seamless interaction with control centers or other team members. The mining industry, a vital contributor to global economic growth and infrastructure development, grapples with inherent safety challenges posed by hazardous environments and unpredictable events. In response to these concerns, this abstract introduces the "Smart Helmet for Air Quality and Hazardous Event Detection" – a groundbreaking technology tailored specifically for mining. This advanced helmet integrates sensors like the MQ3 gas sensor, temperature and humidity sensors, LED lights with automatic controls, and a GPS module. Real-time data from these sensors are transmitted to an IoT platform, enabling continuous monitoring and immediate alerts. Traditional safety measures, including personal protective equipment and periodic monitoring, fall short in addressing the dynamic conditions of mining environments. The Smart Helmet offers a comprehensive solution by providing continuous air quality and environmental monitoring, coupled with automatic lighting and location tracking. This innovation marks a paradigm shift in mining safety, addressing the urgent need for proactive measures to safeguard the well-being of miners in the face of persistent safety challenges. Key Words: Safety, Sensors, IoT, Smart Helmet, Air quality monitoring

The Economic Impact of Sustainable Marine Development on The Aquaculture Industry

With the growth of the global population and economic development, aquaculture has become an important source to meet the increasing demand for food. However, this industry also faces many challenges, including environmental pollution, resource shortage, biosecurity, and other issues. Therefore, achieving sustainable Marine development is crucial for the future development and survival of the aquaculture industry. This paper aims to investigate the economic impact of sustainable Marine development on mariculture. First, we will introduce the sustainable development of the ocean, and at the same time explain the impact of global warming and seawater pollution on the ocean, highlighting the need for sustainable development of the ocean. Then we will introduce the concept and definition of the aquaculture industry, and mariculture industry with the highest correlation with the ocean, and analyze the economic impact of ocean changes on mariculture based on the research status. Finally, based on the problems revealed above, the development mode and prospects are put forward. Through this study, we can draw the following conclusions: the sustainable development of the ocean is positive for both the economy of the aquaculture industry and the overall ecological environment of the ocean, but the joint efforts of the government, enterprises, and individuals are needed to achieve the long-term sustainable development of the ocean.