Period Of High Growth Research Articles

The Efficacy of Monetary and Fiscal Policies on Economic Growth: Evidence from Thailand

This study empirically explores the dynamic effect of MP and FP on the economic growth of Thailand from Q1:2003 to Q2:2024. In this study, data analysis was conducted using an advanced sequence of the econometric modeling approach to guarantee that the estimated results were more consistent and reliable. First, we used Bayesian additive regression trees (BART) and Bayesian variable selection (BASAD) methods to determine macro factors with the highest probabilities influencing growth, in addition to monetary and fiscal policy tools during the studied periods. Second, we used the time-varying coefficients seemingly unrelated equation (TVSURE) model to examine the economic impact of MP and FP. Last, we also employed the Markov switching regression (MSR) model not only to support the findings from the TVSURE model but also to propose policy recommendations based on regime durations and transitions tempted by MP and FP. The main results from both TVSURE and MSR reveal the following: (1) MP is more consistent with expected growth outcomes while FP is stronger when localized, (2) MP is more effective in sustaining long periods of high growth, (3) FP is significantly stronger in recovering from recessions, and (4) the coordination of MP and FP has a similar performance to MP alone but with shorter transition periods. This study makes an empirical contribution to the ongoing debate on the effectiveness of MP and FP in boosting growth and aiding in the recovery from recessions in the case of Thailand. In addition, this study not only acknowledged certain limitations but also recommended policies to sustain the Thai economy.

Total factor productivity growth decomposition and its determinants in Ethiopian manufacturing sector

The objective of this study is to examine the performance of the manufacturing firms in terms of productivity growth by accounting for the determining factors. The findings revealed that growth in TFP has an average rate of 4.87% per year and showed significant improvement over the three policy periods (1996–2003, 2004–2010, and 2011–2015), respectively 3.6%, 4.7%, and 6.5%. Total factor productivity has been decomposed into contributing sources of technical progress (1%), scale change (− 0.14%), and technical efficiency change (4.01%). Twelve factors are identified from the literature as determinants of TFP growth. Eight of them are found to statistically affect this growth. The periods from 2004 to 2010 (high economic growth period) and from 2011 to 2015 (GTP I) have a higher TFP growth rate relative to the base period (1996–2003) and similar private ownership. In addition, labor input growth, capital intensity, and growth in average wage contributed positively to TFP growth. Importers of raw material inputs have higher TFP growth rates compared with non-importers. Tone can conclude from this finding that Ethiopian large and medium-scale manufacturing firms are low in terms of TFP growth. There are factors that enhance productivity, and there are also others that hinder improvements. Thus, strategically designed, coordinated with the firms themselves, and focused interventions are required in order to raise the real sales and value added using the existing state-of-the art technology and input combination, along with advancing the technical know-how, improving labor quality, updating, and renovating the capital input.

Activin Signaling Pathway Specialization During Embryonic and Skeletal Muscle Development in Rainbow Trout (Oncorhynchus mykiss).

Activin signaling is essential for proper embryonic, skeletal muscle, and reproductive development. Duplication of the pathway in teleost fish has enabled diversification of gene function across the pathway but how gene duplication influences the function of activin signaling in non-mammalian species is poorly understood. Full characterization of activin receptor signaling pathway expression was performed across embryonic development and during early skeletal muscle growth in rainbow trout (RBT, Oncorhynchus mykiss). Rainbow trout are a model salmonid species that have undergone two additional rounds of whole genome duplication. A small number of genes were expressed early in development and most genes increased expression throughout development. There was limited expression of activin Ab in RBT embryos despite these genes exhibiting significantly elevated expression in post-hatch skeletal muscle. CRISPR editing of the activin Aa1 ohnolog and subsequent production of meiotic gynogenetic offspring revealed that biallelic disruption of activin Aa1 did not result in developmental defects, as occurs with knockout of activin A in mammals. The majority of gynogenetic offspring exhibited homozygous activin Aa1 genotypes (wild type, in-frame, or frameshift) derived from the mosaic founder female. The research identifies mechanisms of specialization among the duplicated activin ohnologs across embryonic development and during periods of high muscle growth in larval and juvenile fish. The knowledge gained provides insights into potential viable gene-targeting approaches for engineering the activin receptor signaling pathway and establishes the feasibility of employing meiotic gynogenesis as a tool for producing homozygous F1 genome-edited fish for species with long-generation times, such as salmonids.

Deep learning-based corrosion inspection of long-span bridges with BIM integration

Infrastructure operation and maintenance is essential for societal safety, particularly in Japan where the aging of infrastructures built during the period of high economic growth is advancing. However, there are issues such as a shortage of engineers and inefficiencies in work, requiring improvements in efficiency and automation for their resolution. Nevertheless, there are still many inefficiencies in the current procedures for bridge inspections. Usually, inspection engineers check for damage on bridges through close visual inspections at the site, then photograph the damaged parts, measure the size by touch, and create a report. A three-dimensional representation, considering the front and back of the structural elements, is needed for identifying damage, necessitating the creation of multi-directional three-dimensional drawings. However, this process is labor-intensive and prone to errors. Furthermore, due to the lack of uniformity in records, it is challenging to refer to past inspection histories. Especially for long bridges, without resolving such issues, the required labor and the number of mistakes could exceed acceptable limits, making proper management difficult. Therefore, in this study, we developed a method for automatically measuring the position and area of corroded parts by capturing images of the lower surface of the stiffening girder using a bridge inspection vehicle and utilizing image diagnosis technology. By integrating these results into a 3D model called BIM (Building Information Modeling), it becomes possible to manage the bridge more efficiently. We verified this method on actual long bridges and confirmed its effectiveness.

Kelp dissolved organic carbon release is seasonal and annually enhanced during senescence.

Macroalgae influence local and global biogeochemical cycles through their production of dissolved organic carbon (DOC). Yet, data remain scarce and annualized estimates are typically based on high growth periods without considering seasonal variability. Although the mechanisms of active exudation and passive leakage need clarifying, ecophysiological stress is known to enhance DOC release. Therefore, DOC leakage from seasonally senescent macroalgae may be overlooked. This study focuses on the annual kelp Saccharina japonica var. religiosa (class Phaeophyceae) from Oshoro Bay, Hokkaido, Japan. Three years (2020-2022) of seasonal data were collected and analyzed, with least squares mean DOC release rates established for kelp (n = 88) across 16 incubation experiments (t ≥ 4 d, DOC samples ≥1 · d-1) under different photosynthetically active radiation (PAR) treatments (200, 400, 1200, or 1500 μmol photons · m-2 · s-1). Differences in PAR, dry weight biomass (g DW), sea surface temperature, or salinity could not explain DOC release-rate variability, which was high between individual kelp. Instead, there were significant intra-annual differences, with mean DOC release rates (mg C · g-1 DW · d-1 ± standard error between n kelp) higher during the autumn "late decay" period (0.71 ± 0.10, n = 27) compared to the winter "early growth" period (0.14 ± 0.025, n = 10) and summer "early decay" period (0.25 ± 0.050, n = 24). This relationship between seasonal senescence and macroalgal DOC release is further evidence that long-term, place-based studies of DOC dynamics are essential and that global extrapolations are premature.

Structural Health Monitoring on Road Bridge: Application Cases of Optical Strand Sensor in JAPAN

In Japan, many of the major civil infrastructures such as road bridges, railways and tunnels was built during our high-growth period from the mid-1950s to the early 1970s. The number of these structures that has been more than 50 years old after construction, has been rapidly increasing in recent years. In this context, expectations for Structural Health Monitoring (SHM) have been rising to optimize its management and maintenance to extend its lifespan and ensure the safety of users. Although a variety of IoT sensors are developing and their precision is improving day by day, SHM still has crucial challenges, e.g., if it can really identify critical damages to structures, determine quantitative assessment of the serviceability limit, evaluate the safety of a structure quickly after major events such as earthquakes, or so on. In order to achieve our original goals, it is essential to accumulate practical applications of SHM by dedicating a specific sensor solution to a specific issue. The authors have introduced a unique and competitive Optical Strand Technology developed by OSMOS Groupe in France and have been providing the service of SHM mainly on civil infrastructures for more than 20 years in Japan. This paper presents some application cases of SHM to road bridges by means of Optical Strand Sensor which provide for different types of purposes and future prospects.

The Role of The Banking Sector in Angola's Economic Growth

Objective: The main objective of this research project is to analyse the role of the banking sector in Angola's economic growth over 25 years, i.e. from 1995 to 2019. In this sense, the aim was to verify whether the banking sector, in the period 1995-2019, contributed significantly to the growth of the country's economy and whether the evolution of the oil sector conditions the development of the banking sector. Theoretical Framework: Given its importance, various research studies have investigated the association between economic growth and the banking sector. This study, therefore, contributes to the empirical evidence of this relationship. Method: Various statistical techniques were used, namely determining the measures of asymmetry and kurtosis, as well as the Jarque and Bera adherence test, in order to verify the normality of the distributions of the variables used, drawing up the VAR model, identifying the number of periods (LACs) to be analysed in the Granger test and making the identification of causalities more robust, and carrying out the Granger test itself, in order to identify causal relationships between the variables studied. Results and Discussion: A very strong but negative correlation was found between GDP and the banking sector, as well as between the oil sector and the banking sector. These results show that during periods of higher economic growth (closely associated with periods of higher growth in the oil sector), there is an increase in the outflow of money from the financial system, namely through imports, decapitalising the banking sector. Conclusion: The diversification of the economy into other sectors of activity is, therefore, a priority for economic growth and the sustainability of the Angolan financial sector.

Development of the recording device to reduce an overlook of a defect for the impact acoustic method

Several concrete structures in Japan built during a period of high economic growth—including bridges (40%) and tunnels (25%)—are now at least 40 years old and are withering. Recent years have witnessed several accidents caused by falling concrete debris from these structures. To ensure safety, these buildings are regularly inspected with non-destructive tests such as the impact acoustic method (IAM). In this method, the surface of the concrete structure under inspection is impacted by a hammer and the resulting sound vibrations are used to detect defects. According to the current inspection standard, inspection records only contain information of detectable defects, because the method relies on the physical capabilities and expertise of the professional. Consequently, there are no records of imperceptible defects. In this study, we developed a recording device that consists of an accelerometer and a microphone and connected it to an impact hammer. The device saves the output from the two components in a single file. A set of concrete specimens were then tested using the IAM with the new device and hammer. Furthermore, the contact time and striking power of the hammer were estimated using a load sensor.

The impact of macroprudential policies on industrial growth

This paper analyzes the causal impact of macroprudential policies on growth, using industry-level data for 89 countries for the period 1990 to 2021. The small industry size creates exogenous identification, avoiding reverse-causality. I find macroprudential tightening measures impact manufacturing growth negatively, but only for industries with high external finance dependence. This effect is stronger during banking crises, higher growth periods and for advanced economies. The effect is weaker during periods of high private credit growth. Prudential policies implemented before the pandemic mitigated the fall in growth. Growth effects on externally dependent industries are economically sizeable and can persist over three years.

Kelps may compensate for low nitrate availability by using regenerated forms of nitrogen, including urea and ammonium.

Nitrate, the form of nitrogen often associated with kelp growth, is typically low in summer during periods of high macroalgal growth. More ephemeral, regenerated forms of nitrogen, such as ammonium and urea, are much less studied as sources of nitrogen for kelps, despite the relatively high concentrations of regenerated nitrogen found in the Southern California Bight, where kelps are common. To assess how nitrogen uptake by kelps varies by species and nitrogen form in southern California, USA, we measured uptake rates of nitrate, ammonium, and urea by Macrocystis pyrifera and Eisenia arborea individuals from four regions characterized by differences in nitrogen availability-Orange County, San Pedro, eastern Santa Catalina Island, and western Santa Catalina Island-during the summers of 2021 and 2022. Seawater samples collected at each location showed that overall nitrogen availability was low, but ammonium and urea were often more abundant than nitrate. We also quantified the internal %nitrogen of each kelp blade collected, which was positively associated with ambient environmental nitrogen concentrations at the time of collection. We observed that both kelp species readily took up nitrate, ammonium, and urea, with M. pyrifera taking up nitrate and ammonium more efficiently than E. arborea. Urea uptake efficiency for both species increased as internal percent nitrogen decreased. Our results indicate that lesser-studied, more ephemeral forms of nitrogen can readily be taken up by these kelps, with possible upregulation of urea uptake as nitrogen availability declines.

Combined acoustic methods in monitoring the crack development in granite

Detecting cracks of various sizes is crucial for monitoring and predicting rock failure. This study combines two acoustic methods—the passive acoustic emission (AE) and the active ultrasonic P-wave velocity to investigate the cracking process from initiation to propagation and coalescence of rocks containing pre-existing flaws, which simulate the intrinsic defects in natural rocks or rock masses, across different scales in three-dimensional space. The resultant AE activity is found sensitive to microcracks even in the early loading stage and can be divided into three stages: quiet, stable, and high growth periods. The positions of the microcracks can be obtained with the assistance of several AE sensors. It is also found that the P-wave velocity attenuation is more sensitive to macrocracks but less sensitive to microcracks. The results indicate that combining the AE and active ultrasonic-wave methods can provide comprehensive information to evaluate the damage levels and localize the internal cracks with multiple scales in the entire cracking process of rocks. The study also indicates the potential for predicting crack coalescence and failure based on the combination of these two nondestructive methods. In addition, the findings can also be applicable in the monitoring and prediction of failure in other brittle materials.

Impact of Tire Shape on Localization Accuracy in Piping Inspection Robots

The sewerage pipes laid in Japan are extensive, spanning approximately 470,000 km, with most of them constructed during the high economic growth period from around 1955 to around 1973. According to indicators from the Ministry of Land, Infrastructure, Transport, and Tourism, the service life of sewerage pipes is estimated at 50 years. This suggests that many sewer pipes across Japan, installed over 50 years ago, are becoming obsolete. Consequently, piping inspections using robots have commenced in Japan. Currently, stand-alone types that can be inspected by a single robot are garnering attention. Meanwhile, we have been conducting research and development with the aim of implementing a small, easily portable, stand-alone piping inspection robot. Furthermore, numerous stand-alone types have been employed to prevent falls by adjusting the tire shape or the distance between the axles. However, this hardware approach does not completely prevent falls. Therefore, we have opted for a software approach to explore measures to prevent falls by controlling driving, aiming to achieve the advanced localization required for this purpose. We are currently in the stage of verifying the localization. However, accurately measuring the robot's position and orientation using general measuring instruments is challenging due to the curved piping. Hence, we developed a specialized three-dimensional position-measuring instrument for piping inspection robots. In this paper, we utilize the instrument to examine the influence of tire shape on localization. Additionally, we demonstrate the effectiveness of the localization method in an environment where tire shape does not affect the outcome.

INVESTMENT CYCLE IN THE ECONOMY OF SLOVAKIA AND IN THE EU-27

Fluctuations in investment and consumption expenditure often give rise to the business cycle.Older theories or approaches to business cycles found the causes of cyclical fluctuations in investment, underconsumption, psychological factors as well as climatic factors.The aim of the article is to evaluate the development of investment and consumption expenditure in the economy of Slovakia and the EU-27 economy. In the period 2003-2022, which is the subject of our interest, the Slovak economy as well as the EU economy experienced two major economic recessions.The first was caused by the global financial crisis, and the second was due to the coronavirus pandemic.Investment expenditure was subject to significant fluctuations throughout the reporting period, butthe fluctuations were larger in the Slovak economy.Consumer spending also experienced cyclical fluctuations in both Slovak and the EU-27 economies.Consumption growth in the SR during the period of high GDP growth (2004-2008) exceeded consumption growth in the EU-27countries.During the global financial and economic crisis, consumer spending declined only slightly in both economies.Consumption fell more during the economic crisis caused by the coronavirus pandemic (2020).In the EU-27, consumer spending decreased by -4.8%, in Slovakia by -1%.

Analysis of Growth Factors of the Four Asian Dragons Following the Asian Financial Crisis

Purpose - This study aims to identify implications from a factor decomposition analysis of the growth structure of four Asian dragons, Korea, Singapore, Hong Kong, and Taiwan, which have re-emerged as key regions in the fourth industrial revolution and the global value chain.
 Design/Methodology/Approach - With the Translog Production Function employed as the analysis model, the Stochastic Frontier Analysis model was used to derive total factor productivity (TFP), which was decomposed into four factors including returns to scale, technological changes, technical efficiency, and others.
 Findings - The results of the analysis conducted over different periods indicate that during periods of high growth, the economy’s scale effect largely contributed to total factor productivity. However, it became evident that the effect of technological changes had become increasingly important after going through the foreign exchange and financial crises.
 Research Implications - The new growth momentum in these four regions suggests a need to invest in human capital, research and development, and other areas to cope with the low-growth era. Although past high-growth was attributed to the returns to scale effect, the economic structures shifted in the direction of enhancing efficiency, and the effect of technological changes became a driving force while going through the crises. These results show a need to focus on technological advancement through active research and development investment to increase total factor productivity.

Trigger points and high growth firms: the vital role of founder “sensing” and “seizing” capabilities

PurposeResearch on high growth firms is booming yet a strong conceptual understanding of how these firms obtain (and sustain) rapid growth remains (at best) partial. The main purpose of this paper is to explore the role founders play in enabling episodes of rapid growth and how they help navigate this process.Design/methodology/approachThis paper reports the findings from a qualitative study involving in-depth interviews with entrepreneurs enlisted onto a publicly funded high growth business accelerator programme in Wales. These interviews explored the causes of the firms rapid growth, their key growth trigger points and the organisational consequences of rapid growth.FindingsThe research reveals that periods of high growth are intrinsically and inextricably inter-linked with the entrepreneurial traits and capabilities of their founders coupled with their ability to “sense” and “seize” pivotal growth opportunities. It also demonstrates founder-level dynamic capabilities enable firms to capitalise on pivotal “trigger points” thereby enabling their progression to a new “dynamic state” in a firm’s temporal evolution.Originality/valueThe novel approach towards theory building deployed herein is the use of theoretical elaboration as means of extending important existing theoretical constructs such as growth “trigger points” and founder dynamic capabilities. To capitalise on these trigger points, founders have to undergo a process of “temporal transitioning” to effectively manage and execute the growth process in firms. The work also has important policy implications, underlining the need for more relational forms of support for entrepreneurial founders.

Relationship between economic growth and marine ecological environment based on VAR models

This study aims to investigate the inherent correlation between economic growth and marine conservation in the coastal regions of China, specifically the shifting relationship between high and low economic growth periods and marine pollution. A nonlinear model is employed to determine the dynamic relationship based on historical data, with the inclusion of a nonlinear zone system transfer factor to achieve this dynamic relationship. The study's data was sourced from a statistical database of 11 Chinese coastal provinces, containing details on economic growth rates and emissions of industrial waste. In the study, significant differences in the mean, variance and smoothing probability of the different provinces were observed in the different systems. Notably, Shandong recorded the highest mean μ2 in both systems, 0.7261* and 0.7261**, while the correlation coefficient between the two systems in the high growth area was −0.3543. Significant differences exist in the intrinsic links between economic growth and marine environmental protection within provinces and cities. Therefore, targeted strategies must be developed for specific regions when formulating economic and environmental policies.

Analysis of exogenous lactic acid bacteria on growth and development of different herbaceous peony varieties and rhizosphere soil nutrients

There are replanting problems in the production of herbaceous peony. If ramet seedlings are replanted in the original planting hole, they weaken year-by-year until their death, which reduces the land utilisation rate and increases the production costs. In this study, exogenous lactic acid bacteria (LAB, the main component is Lactobacillus plantarum) were applied to improve the planting soil of herbaceous peony for the first time to alleviate the replanting problems, to reduce the production costs, and to provide a new way to promote the of the herbaceous peony industry. In this study, herbaceous peony main cultivars varieties ‘Dafugui’ ‘Hongxiuqiu’ and ‘Zifengyu’ were selected, and experiments were conducted using exogenous LAB. Morphological, rhizosphere soil, and root physiology indexes were measured by sampling at the end of the high-growth periods of herbaceous peony. The results showed that after LAB treatment, the plant height, flowering rate, other morphological indexes and root vitality of ‘Hongxiuqiu’ were increased, with a better promoting effect than that of ‘Dafugui’ and ‘Zifengyu’. The ‘Dafugui’ rhizosphere soil nutrient content and enzyme activity were improved, followed by ‘Hongxiuqiu’ and ‘Zifengyu’. The rhizosphere soil free salicylic acid content and root abscisic acid content decreased, whereas the soil bacterial abundance, root antioxidant enzyme activity, proline and paeoniflorin content increased in all varieties. This study found that LAB application can improve soil fertility and enzyme activity, promote the growth and development of herbaceous peony, increase the flowering rate and improve the ornamental value. However, the influence of LAB on different herbaceous peony varieties varied. Therefore, it is necessary to further expand the number of varieties, optimise the application concentration and frequency of LAB application, alleviate the replanting problems in herbaceous peony production, improve the utilisation rate of land, promote excellent varieties of herbaceous peony, and provide a new methods and references.Graphical abstract

Survey of Changes in the Japanese Family since the High Economic Growth Period

Survey of Changes in the Japanese Family since the High Economic Growth Period

Association between Serum Vitamin B12 and Folate Levels with Type 2 Diabetes Mellitus On Metformin Therapy

Background: Vitamin B12 is a water-soluble vitamin, and its lack causes the methylation process to be disrupted, further resulting in the formation of abnormal fatty acids, which results in neurological manifestations. The water-soluble vitamin folate, often known as folic acid or vitamin B9, is especially vital during high cell division and growth periods. Objective: The study aims to evaluate serum vitamin B12 and folate levels in type 2 diabetic patients with and without metformin therapy and to correlate their levels with other parameters in type 2 diabetes mellitus (T2DM) patients. Subjects and Methods: A cross-sectional controlled study that included 90 participants, 60 type 2 diabetes mellitus patients with metformin therapy designated as (the metformin group) and 30 type 2 diabetes mellitus without metformin therapy considered as (the control group). The study was conducted from December 2021 to the end of March 2021 at private internal medicine clinics in Tikrit City, Iraq. Blood samples were assessed for serum vitamin B12 and folate using Cl-900i Chemiluminescence Immunoassay Analyzer and glycated hemoglobin HbA1c using AFIAS Analyzer in all metformin and control groups. Result: The study showed that there were significant differences in vitamin B12 of (p < 0.01) and folate of (p < 0.05) between the metformin group and the control group. Significant negative correlations were found between vitamin B12 and diabetes mellitus (DM) duration and HbA1c. Folate was negatively correlated and highly significant with DM duration and HbA1c (p < 0.01). Conclusion: The results showed low vitamin B12 and folate levels in T2DM patients. Vitamin B12 and folate were negatively correlated with DM duration and HbA1c. The results suggest a higher risk of vitamin B12 and folate deficiency with metformin use and emphasize the concern of vitamin B12 and folate deficiency in T2DM patients. Keywords: Type 2 Diabetes Mellitus (T2DM); Vitamin B12; Folate; DM duration; HbA1c.

Could Better Jobs for Men Have Improved Gender Equality? The Relationship between Economic Growth and Gender Equality in India

Economic theory suggests that growth may improve gender equality directly by raising women’s employment and indirectly by reducing poverty–thereby causing poorer families to discriminate less against females in intra-household allocations. This paper argues that growth in India has not substantially improved gender equality because it has not sufficiently activated either of these mechanisms. I analyze structural changes from 1982/83 to 2011/12 to show that India’s high-growth period has not been pro-poor. While female employment levels have actually declined since the 1980s, growth has not expanded remunerative employment opportunities sufficiently, even for poor males. This suggests that better-paid jobs for men—by lowering poverty—might actually have led to greater gender equality in India—by reducing poverty-linked gender discrimination. The analysis thus highlights the importance of pro-poor growth, illustrating how structural changes can shape employment, thereby altering the quality of growth and its impact on gender equality.