High Rates Of Economic Growth Research Articles

Analysis of the relationship between foreign direct investment and economic growth in Kazakhstan

The most important contribution expected from foreign investments for developing countries is thatit helps to ensure the commercial balance and economic growth of the country. Empirical studies investigatingthe relationship between foreign investments and economic growth have shown that capitalmovements have led to a high rate of economic growth in some developing countries, and also pavedthe way for economic crises in some countries. In this study, the effects of foreign direct investments oneconomic growth in Kazakhstan are tried to be revealed. For this purpose, the relationship between internationalforeign investments and economic growth in Kazakhstan has been tested by using quarterly dataon GDP, gross fixed capital formation, public expenditures, openness and foreign investments between2005-2020. Beginning with the Augmented Dickey-Fuller (ADF) unit root test, the analysis ended withthe Granger causality test, the VAR analysis. According to the results of the Granger causality test, theonly reason for the growth of the Kazakhstan economy in the sense of Granger is openness. Examples offoreign investment affecting growth have not been found in the causality test. On the other hand, therewas no statistically significant effect of foreign investments on economic growth.Key words: foreign direct investment, economic growth, Kazakhstan economy, VAR analysis, Grangercausality.

ECONOMIC MODERNIZATION REFORMS IN UZBEKISTAN

The article is devoted to the consideration of the ongoing reforms to modernize the economy in the Republic of Uzbekistan, which are aimed at strengthening macroeconomic stability and maintaining high rates of economic growth. In addition, the article presents the ongoing fundamental changes in the banking and financial sector of the country, namely, the implemented measures to deepen the reform and ensure the stability of the banking system by increasing the authorized capital of commercial banks and increasing the availability of banking services.

Economic tools for integration of alternative energy into the energy system of China

The relevance of the research topic is determined by special attention to the development of «green» energy in the state policy of the People's Republic of China. The problem of the development of the Chinese energy sector is the shift of priorities to the search for alternative, clean energy sources that will replace oil and gas. Analysis of recent publications ensures in a persistent interest in the problems of alternative energy in the majority of countries implementing stable economic growth. According to the authors, the processes of integration of alternative energy into the energy system of China, a country with high rates of economic growth, remain unexplored. The purpose of the study is to substantiate the choice of economic instruments for the integration of alternative energy into the energy system of China. The research methods used in the work are comparison, grouping, systems approach, formalization, axiomatic method, analogies, abstraction and modeling. Results of work. Within the framework of this study, the dynamics of changes in the structure of energy consumption in China has been studied, from the point of view of energy sources. China's energy policy issues go hand in hand with its economic policy goals. The country needs to support rapid development and economic growth, but in a much less energy-intensive way. This is widely recognized by the Chinese government, but significant changes in energy consumption versus production could mean major changes in its economic structure. The field of application of the research results is the energy policy of the state, aimed at the greening of life. Findings. The transition to renewable energy is inevitable, so the question is how best to manage this process while minimizing the total cost of energy services and the cost of damage caused by energy use. The combination of energy efficient and renewable energy sources will eventually replace the existing traditional energy system, which is dominated by fossil fuels. The most important factor for such an early transition is the need to address the problem of catastrophic climate change.

ETHNIC HETEROGENEITY OF EASTERN REGIONS AND THEIR ECONOMIC DEVELOPMENT

The article examines the influence of ethno-linguistic diversity on the rate of economic growth in the regions of the Russian Federation. Today, there is no single opinion on the nature of the impact of ethnic diversity on economic growth. In our work, we assumed that the reason is in the nonlinear nature of the influence of heterogeneity on economic development. Thus, the work empirically demonstrated the ambiguity of the influence of ethno-linguistic diversity on economic growth, it was shown that in regions with a high rate of economic growth, the positive influence of ethnic heterogeneity increases, while in regions with a low rate of growth, its influence, on the contrary, is can become negative.

COMPARATIVE ANALYSIS OF THE BEHAVIOR OF RUSSIAN HIGH-TECH AND LOW-TECH MANUFACTURING COMPANIES

The high-tech sector is considered to be innovatively active, but its contribution to GDP does not change, despite the measures taken by the government. This may be due to the same behavior patterns of high- and low-tech companies. The analysis of the behavior of high- and low-tech companies was carried out according to the data of surveys of heads of domestic manufacturing enterprises. The approach for testing hypotheses about possible differences in the behavior of high- and low-tech companies in different economic conditions is based on a statistical comparison of the average values of indicators for companies in these sectors. It was found that the level of innovation activity among high-tech companies declines to a lesser extent than among low-tech companies during the crisis. In these conditions, high-tech companies are more actively using "internal reserves": they are working more to improve the skill level of staff and implementing innovation processes. During periods of high and low rates of economic growth, high-tech companies often buy new technology. The rest of the patterns of behavior of high- and low-tech companies do not differ.

Nigerian Industrialisation Challenges and Dearth of Galvanization Amidst the United Nations Industrial Development Support

The high rate of economic growth, the provision of basic facilities, and job creation are products of any nation’s level of industrialisation. Globally, no nation is considered to have attained a concerted level of a high standard of living in the absence of economic development. Thus, industrialisation that ought to be the bedrock of Nigerian economy has continued on a downward journey in the 21st century, despite several industrial development policies. Therefore, the paper is an attempt to find out how this sector has fared vis-a-vis the structural influence of UNIDO. The study is a qualitative work that adopted a thematic analysis approach. The adoption of Top-Down as a theoretical model of analyses validates the fundamental issues raised that; several industrial development programmes and projects initiated by both UNIDO and successive administrations in Nigeria to help in the revitalisation of industrial landscape in line with the government’s goal of emerging among the top 20 most developed economies in the world by 2020 have failed. The major informed findings of the paper are that for the time being, Nigeria still remains a consuming economy of finished products including some raw materials. In addition, her critical construction, engineering and maintenance activities are expatriates-based with little or no regard for local content. These cumulatively resulted in the advancement of the fact that the UNIDO supports have not significantly impacted the development of industries in Nigeria. The discourse conclusively gave birth to subsequent recommendations.
 
 Received: 6 January 2021 / Accepted: 3 April 2021 / Published: 17 May 2021

Explaining economic growth in advanced capitalist democracies: varieties of capitalism and welfare production regimes

Why do some advanced capitalist democracies experience relatively higher economic growth rates? In this paper, it is argued that complementarities between varieties of coordination and systems of social protection can help explain differences in long-run economic performance. Testing the explanatory power of the original varieties of capitalism (VoC) model and the welfare production regime (WPR) model, the article finds that long-run economic growth is conditioned by the extent to which systems of social protection are complementary to varieties of coordination. Using time-series cross-section data on 17 OECD countries from 1974 to 2009, the article finds strong support for the hypothesis that coordinated market economies with decommodified welfare states achieve relatively higher economic growth rates in the long run. The WPR model moreover seems better at explaining economic growth compared with the classical VoC model. The welfare state is therefore argued to be crucial in understanding the economic effects of varieties of coordination.

The Impact of Foreign Aid on Economic Growth in Palestine: An Empirical Evidence

This study examines the Impact of Foreign Aid on Economic Growth in Palestine by considering time series data of the last twenty years from (2000-2019). Foreign Aid's Impact on the Palestinian Economy explored with the Gross Domestic Product (GDP) as the dependent variable against few selected independent variables such as Foreign Aid, Remittance, Investment, Labour Force and Lagged (GDP). This study used the Partial Adjustment Model to analyze the Impact of Foreign Aid on Economic Growth in Palestine and also applied the (Chow Test) to examine whether there was a Structural Breakthrough in the Palestinian Economy. The results indicate that Foreign Aid has a positive relationship with (GDP). However, the relationship is not significant since the higher volume of Foreign Aid used in Humanitarian and Social Welfare rather than Production Activities in the real sectors. (Chow Test) shows that the relationship between Foreign Aid (GDP) has not witnessed a Structural Breakthrough in the Palestinian Economy over the past twenty years. In light of these empirical results, we suggest that Government Policy-Makers and Decision-Makers allocate this Foreign Aid to Productive Sectors and Human Capital formation (HC) activities with a special focus on capital expenditures to achieve a high rate of the country's Economic Growth and Development and to meet the periodic plan and Long-Term Development goals.

Системно-целостная междисциплинарная методология – качественно новый инструментарий общего и профессионального образования в условиях осуществления Второй индустриализации России

The education system is a key element in the progress or degradation of the country's population and economy. Formed in the present education system of Russia according to the Bologna models and the patterns aimed at stupefying the total population, a sharp decline of scientific progress in social production and increased dependence on foreign manufacturers and managers of the domestic financial and resource wealth. The way out of this deadlock circle of problems is in the revival of the advanced positions of the former soviet education system on a qualitatively new scientific basis, theory and system-holistic methodology, providing a full knowledge of the phenomena of nature and society in conditions of certainty. Existing methodologies of partial cognition in conditions of high degree of uncertainty and subjectivity of representation are based on outdated and inadequate theories. 
 System-holistic interdisciplinary methodology is characterized by a set of necessary and sufficient for objective and complete knowledge of the conceptual tools that allow you to accurately, fully and adequately understand the socio-economic processes, to lead the knowledge immediately from the general to the specific, thereby reducing the multiple time and resources for the process of knowledge. It is based on a qualitatively new scientific basis, objective theory, uses objective units of dimensions of physical quantities (kWh and the like), takes into account in the knowledge and management of the action of an expanded set of universal and socio-economic laws of human development-society in nature. A deeper analysis of the set of laws allowed us to identify the main goal of human development-society and the main socio-economic forms of manifestation of the laws: useful costs-results, useless, harmful, loss of cost-results in the structure of the budget of social time. There are no other socio-economic forms of human activity. Therefore, the main goal of human development-society in nature is to increase the share of useful and reduce the share of useless, harmful, loss of cost-results in the structure of the budget of social time. This is the basis for the preservation of civilization on Earth. The technique, technology, organization, education system used serve only as forms of manifestation of life that contribute to or hinder the progress of mankind. The implementation of the Second industrialization of Russia is aimed at a radical solution to the ever-increasing complex of internal and external problems in modern conditions. A key element of the successful implementation of this large-scale strategic program is the immediate introduction of a fundamentally new education system that ensures high rates of economic growth and well-being of the entire population of Russia.

Good Governance and Economic Growth in South European Countries

Economic growth is a prerequisite for economic development. However, there is no “recipe” for countries to create an environment of prosperity and to achieve high rates of economic growth. Many researchers have examined the drivers of economic growth and find that economic growth depends on many economic and institutional variables. In this context, the main objective of this paper is to examine the role of good governance on economic growth in piicgs countries (Portugal, Ireland, Italy, Cyprus, Greece, and Spain). The database was collected from many sources and the empirical analysis is based on a 2SLS (two-stage least squares) technique. In our empirical results, we find that trade openness, gross capital formation, inflation, political stability, rule of law, debt rule, budget balanced rule, and the combination between debt rule/budget balanced rule with political stability and combination between debt rule/budget balanced rule with rule of law are significant drivers of economic growth in piicgs countries while foreign direct investments, government effectiveness, voice and accountability, regulatory quality, fiscal rule index and expenditure rule are insignificant. However, the results may be different if we use other sample groups and/or different periods.

Happiness and Criminal Victimization: A Study of Relationship and Restoration

Even well-developed nations with the highest economic growth rates have failed to bring happiness amongst their citizens. Consequently, recent studies have shifted their focus from economic variables, such as Human Development Index (HDI), gross development product (GDP) per capita, etc., to happiness as an indicator of growth, development and social progress. Amidst others, criminal victimization is one of the important indicators of happiness. The present article intends to study the relationship between happiness using the happiness measurement index and criminal victimization using the crime statistics of selected nations. It consists of a descriptive statistical analysis of six nations selected based on their happiness score, including two nations each with a high, average and low happiness measurement index. The results show that people living in nations with high crime rates were less happy and satisfied than individuals living in nations with comparatively lower crime rates. However, the article could not conclusively establish the relation between the happiness level and the nature of crime.

Entrenching Waste Hierarchy for Sustainable Municipal Solid Waste Management in Kenya

Prioritizing waste prevention, reuse, recycling and recovery of materials and energy over disposal through landfilling, offers the waste hierarchy approach (WHA) a sustainable pathway to the management of municipal solid wastes (MSW) and realization of a circular economy. The concept is now part of the legal framework in some developing countries and its implementation has been credited for addressing waste problems linked to high rates of economic growth and urbanization. Even though Africa Vision 2063 prioritizes improvements in urban waste recycling in the continent, much of the MSW generated on the continent is disposed through landfilling evidencing weak adoption of the WHA. This article contends that because WHA is not adequately incorporated in the current legal framework at national and sub-national levels of government, Kenya is unlikely to achieve a circular economy approach necessary for realizing sustainable waste management. Operationalization of the WHA is impeded by inadequate financing, weak institutional coordination, gaps in private sector and informal actors’ engagement and risks associated with investments in large-scale waste recovery initiatives. It is therefore necessary for Kenya to elaborate the WHA in its legal framework at both national and county level, while ensuring adequate financing, involvement of informal actors, incentivization of private sector and adoption of waste planning procedures.

Growth formula: economy of Portugal after the “Carnation Revolution”

This article provides an overview of the Portuguese economy in the last quarter of the 20th and early 21st centuries. Assessing several key indicators of economic development within a historical perspective, the author highlights the most important factors that set the dynamics of national socio-economic growth. For more than four decades, since the “Carnation Revolution” (April 25, 1974), the Portuguese Republic has undergone profound changes in the economy and the socio-political sphere. In the country, there are new, as well as modernized traditional industries, a modern structure of production and consumption; GDP has increased six times, exports of goods and services have grown dramatically. In general, Portugal organically blended in the world economic system, took its rightful place in the global division of labor. One should take into account the effects of the global crisis of 2008-2009, when the Portuguese economy found itself in the epicenter of the “perfect storm” (pairing internal and external negative factors) and was pushed back in practically all key macroeconomic indicators. Despite such a system failure, in the second half of the 2010s, Portugal managed to cope with the peak of the crisis, overcame the general effects of the recession and began to show some of the highest rates of economic growth among the states of the euro zone. However, preservation of the positive economic dynamics is currently threatened by external challenges that require timely and effective response. Such challenges of global nature include the COVID-19 pandemic, the economic impact of which appeared to be a real shock for Portugal, as well as for many other countries in the world.

Methods to Ensure Cluster Development of Rostov Region Territory in terms of Agricultural Sector

The main objective of cluster policy implementation is to ensure high rates of economic growth and diversification of the regional economy by increasing the competitiveness of enterprises, suppliers of equipment, components, specialized production and services, research and educational organizations that form territorial clusters. The cluster approach has taken one of the key positions in the social and economic strategies in several regions and municipalities in the Russian Federation, as evidenced by the draft “Concept of Cluster Policy in the Russian Federation” developed by the Russian Federation Ministry of Economic Development. This article covers the methodology that allows to successfully implement the territorial cluster division and ensure the calculation of cluster specialization on the level of the subject of the Russian Federation, namely Rostov Region.

The Sustainability of EU Labor Immigration in Terms of Poverty Inequalities and Employment

The basic feature of developed economies is a high economic growth rate, which creates the preconditions for a high living standard of population based on high incomes from economic activities. Development processes in advanced economies also include changes in demographic development, resulting in population structure changes, as well as labor force structure changes caused by birth rates reduction and life expectancy increase and an aging process. Due to the high standard of living in European developed countries, they are becoming attractive to less developed countries, having a surplus of labor that migrates to work with a vision of increasing living standards and quality of life. The workforce does not always find full employment here in terms of qualifications, leading to social inequalities between the domestic population and immigrants for whom the social situation poses a risk of poverty. The goal of the article is to determine the specifics of inequalities between the domestic and immigrant population in terms of social status in individual EU countries. Immigrants coming out of the EU are significantly at higher risk of poverty. In most EU countries, the employment rate in the group “nationals” is lower than in the group “foreign” from the EU.

THE US POLICY SHIFT FROM ‘PIVOT TO ASIA’ TO ‘FREE INDO PACIFIC’: IMPLICATIONS FOR PAKISTAN

Asia Pacific, which is extended Eastward to the states of Oceania, Westward to Pakistan, Southward to New Zealand, and Northward to Mongolia, is currently a pivot of the globe due to its economic growth. Since last two decades, it has got status of ‘growth center’ owing to its high economic growth rate. The United States (US) had been very active in Asia Pacific throughout the Cold War period, but in post-Cold War era, it was disengaged due to its pre-occupation in Middle East. However, the rise of China attracted US again with multiple arrangements at political, economic and social fronts. There are two world views about the US presence in Asia Pacific. The first one asserts that the Asia Pacific is more secure without the presence of US, while others takes the US presence as a patron for stability and solidarity within the region. The US policy of ‘Pivot to Asia’, ‘Asia Pacific’ commonly known as ‘Rebalancing’ ensured its new commitment of deep engagement in Southeast Asia. Policy shift under Trump administration from ‘Pivot to Asia’ to ‘Free Indo-Pacific’ has direct as well indirect implications for Pakistan. The study analyses the US strategies and polices under the theory of ‘Offensive Realism,’ where ‘rational powers uncertain of intentions and capable of military offensive strive to survive’. Analytical, descriptive approaches are adopted in order to analyse US ongoing strategies.

Performance of Agricultural Export Products on Economic Growth in Nigeria

This research sought to explore the performance of agricultural export products on economic growth in Nigeria from 1960 to 2016. Secondary data from the National Bureau of Statistics, the Central Bank of Nigeria’s Annual Statistical Bulleting, the World Bank, and World Development Indicators were used. The Generalized Method of Moments (GMM) model was explored in this study. The findings of the study show that food and live animals, beverages, and tobacco were found to be negative but significant to agricultural exports, while agricultural exports (total) and crude materials, inedible except fats, were found to be negative and insignificant to economic growth. Animal and vegetable oils and fats were found to be positive but insignificant to economic growth. Based on the following findings, it is recommended that policies aimed at increasing the productivity and quality of agricultural products, especially those from crops, should be implemented. There is also a need to devote more resources to the production of non-export goods to increase exports. Above all, more credit should be extended to the agricultural sector with a low or zero interest rate, which may lead to a higher rate of economic growth in Nigeria.

Kvalitet života kao središnji cilj ekonomskog razvoja - istraživanje koncepta i osvrt na Srbiju

Within the concept of quality of life, people's satisfaction with their own lives and their happiness are studied, as well as the influence of the environment on them. However, while the original research concerned the possibility of achieving individual goals and choosing an ideal lifestyle, in recent research this approach has been supplemented by available financial and material resources and living environment. Having in mind the above, the paper analyzes the quality of life in the Republic of Serbia in comparison with the countries of the European Union. The information base of the survey is based on the latest published Eurostat data. The aim of this paper is to identify key problems and make recommendations for improving the quality of life in the Republic of Serbia in the coming period. Research findings show that Serbia, despite high rates of economic growth, lags significantly behind in terms of quality of life compared to EU countries, especially in the segment of material living standards and overall life satisfaction. As scientific methods, a descriptive method was used to describe the problems, data and characteristics of the observed phenomena and processes, as well as a generalization method for making general conclusions.

Аналіз джерел інвестиційних ресурсів аграрного сектору економіки України

It has been proved that the key condition for the development of the agricultural sector of the Ukrainian economy in the medium and long term should be the growth of investment and diversification of sources of investment resources directed to improving the material and technical condition of fixed capital and technical and technological renewal of the sector. It has been substantiated that it is advisable to include indicators of the share of gross capital formation (in particular, gross fixed capital formation) in the structure of national GDP and depreciation of fixed assets in the composition of the main indicators of the effectiveness of the investment process in the economy of the state. The dynamics of the selected indicators of the agricultural sector of the Ukrainian economy for the period 2010-2019 is analyzed and a comparison of the data obtained with the corresponding levels of indicators typical for the developed countries of the world and developing countries. The global trends in the reduction of the share of gross capital formation and gross fixed capital formation in the structure of GDP are revealed, which, at the same time, is not typical for countries with high rates of economic growth (for example, for China). The dynamics of capital and direct investments in the national economy and in the agrarian sector of the Ukrainian economy in hryvnia and dollar equivalents is analyzed, the change in the structure of investment resources for the period of the study is determined. The structure of capital investments in the agricultural sector by funding sources (state budget funds, local budget funds; own funds of enterprises and organizations; loans from banks and other loans, including loans from foreign banks; funds of domestic investment companies, funds, etc.; funds of foreign investors; public funds for the construction of their own apartments; other sources of financing). It has been proved that in recent years, the main source of financing for capital investments in the Ukrainian economy and its agricultural sector has been the own funds of enterprises and organizations. The dynamics of capital investments in the economy of the state and its agricultural sector at the expense of own funds of enterprises and organizations, credit funds of resident banks is analyzed in detail. The dynamics of the volume of loans from resident banks and the change in interest rates on loans in the national economy and its agricultural sector are illustrated. The volumes of direct investments by investing countries in the agricultural sector of Ukraine, which were typical for 2019, were analyzed. It was established that 60 countries of the world are investing in the Ukrainian agricultural sector, and the main investors are Cyprus, Denmark and Poland.

ЕВОЛЮЦІЯ ЕКОНОМІЧНОЇ СТРАТЕГІЇ В’ЄТНАМУ В СУЧАСНІЙ АРХІТЕКТОНІЦІ ГЛОБАЛЬНИХ ЕКОНОМІЧНИХ ВІДНОСИН

The article analyzes the evolution of Vietnam’s economic strategy based on the concept of institutional archi- tecture. The main internal and external factors that determined the goals of the economic strategy of the Socialist Republic of Vietnam since its inception have been identified. The evolution of the country’s economic strategy in response to the change of target priorities under the influence of not only internal factors, but also in view of the formation of global architecture is substantiated. There are four main stages in the evolution of Vietnam’s economic strategy in global architectonics according to the main characteristics. The first stage (1975–1985) of the transition from an autonomous to a partially autonomous economic strategy of Vietnam in global architecture is characterized as postwar reconstruction, unification of economic complexes of the northern and southern territories into a single system on a planning and administrative basis and external economic integration on the ideological principle. The second stage (1986–2001) of the transition from an autonomous to a partially open economic strategy of regional orientation is characterized by market reform while maintaining the directive role of the state and a pragmatic regional foreign economic strategy. The third stage (2002–2010) of the transition from a partially open economic strategy of regional orientation to a partially open economic strategy of global orientation is characterized by expanding the spheres of market reform while maintaining planning and administrative principles and increasing openness in foreign economic strategy. The fourth stage (2011 – present) the transition to an open export-oriented economic strategy of catching up is characterized by expanding market economy, increasing transparency of state-owned enterprises, narrowing sectors of direct planning and administrative management, pragmatism in geoeconomic strategy, expanding global participation. The results of the economic strategy and significant successes in the market reform of Vietnam’s economy are manifested in high rates of economic growth, improving the welfare of the population. However, not all strategic goals have been achieved yet, in particular the task of industrialization remains relevant.