High Rates Of Economic Growth Research Articles

Linking the Southeast region of Vietnam and Challenges from the Covid-19 Pandemic

The article analyzes the achievements and limitations in regional linkages in the Southeast region of Vietnam in the current period. This is the region with the highest economic growth rate, infrastructure, as well as attracting foreign investment capital of the country. The Government of Vietnam, as well as the local authorities of the 6 provinces in the Southeast, have had many policies to promote regional linkage, in order to create a driving force for the growth of each locality as well as the whole region economic ship of the country. In the context of the Covid-19 epidemic, the Southeast is the epicenter of the 4th outbreak (June 2021), which has profoundly affected economic development in the region. Along with anti-epidemic policies (especially the closure of production and business establishments in the areas, blockade in localities) have greatly affected economic activities, as well as regional linkages of the country area. These pose significant challenges, but also require the Government and local authorities to make efforts and improve operating methods to promote regional connectivity in the context of the “new normal”.

Темпи економічного зростання Індонезії

Economic growth can be a benchmark for a country's welfare and play a role as a determinant and direction for future development. This study aims to analyze the factors that influence the economic growth of 6 islands in Indonesia (Sumatra, Java, Bali and Nusa Tenggara, Borneo, Sulawesi, Maluku and Papua). The following factors were selected for analysis: government expenditure, non-oil and gas exports, investment, population, and the number of workers. This study used secondary data from publications by Bank Indonesia, the Central Statistics Agency (BPS), the Investment Coordinating Board, the World Bank, and other relevant institutions. The collected data covers the period from 2011 to 2020. This study used quantitative descriptive analysis methods with panel data regression analysis. The results of the regression of panel data show that variables of government spending, investment, and non-oil and gas exports did not have a significant influence on economic growth. In contrast, the number of people and the number of workers significantly influenced the economic growth of 6 islands in Indonesia during the analyzed period. The island with the highest economic growth rate is Sulawesi Island, while Borneo Island has the lowest economic growth rate among the six islands in Indonesia. The development of government spending and the highest value of non-oil and gas exports were led by Jawa Island, while the lowest value came from Bali and Nusa Tenggara islands. In addition, due to the rapid development of the population and becoming an industrial centre area, Jawa Island also has the highest investment development, a dense population and the most labour compared to other islands. Meanwhile, the opposite condition occurs in Maluku Island and Papua.

Changes in the Social Positioning of Higher Education and the Emergence of New Great Divergence

The purpose of this study is to find the relationship between the growth of the Japanese economy and the role of higher education over a very long-term perspective. Using the results of very long-term GDP estimates, it demonstrates that Japan belatedly jumped onto the Great Divergence pointed out by Pomeranz. In addition, these open data show the beginning of the new great divergence in this modern time, and some advanced countries that fail to evolve their socio-economic systems are stagnant so that they cannot grow their economies. The study also identifies the evolution of countries' investment attitudes towards higher education by comparing the history of university establishment in medieval Europe and ancient Japan and the population that has received the equivalent of modern tertiary education. With the adoption of the SDGs at the United Nations Summit, a major challenge for each country is the continuation of sustainable growth. The restraint of economic growth with the sustainability demands has been tormenting the world, as if at the same point as the Great Divergence in the 19th century just before the gradual increase in GDP per capita began. Draw linear predictions from open data on changes in doctorate degree holders per million per capita and GDP per capita in major countries shows that countries with a higher percentage of doctorate degree holders tend to have higher economic growth rates. On the contrary, because the percentage of doctorate degree holders is too low, Japan has not been able to contribute to economic growth.

Роль государственных расходов на образование в стимулировании человеческого развития

The paper aims to compare the impact of government expenditure on education on the human development index (HDI) at the level of three groups of countries – developed, developing and least developed ones. The Granger causality test underlies the methodological approach of the research. The author proves a cyclical nature in the efficiency of government expenditure on education and its dependence on the starting socio-economic conditions. The highest efficiency of the former was found in the group of developing countries, especially countries with middle income and relatively higher economic growth rates. With a relatively high proportion of people with completed secondary education, additional investments to education are converted into an increase in years of study, the rising proportion of people with a higher or post-secondary education, and a consequent increase in incomes. The return on investment in education is skyrocketing. At the same time, the groups of developed and least developed countries show no significant impact of a stimulating fiscal policy on the HDI. The least developed countries are in fact on the first stages of building the education system, and this is associated with a substantial demand for investment in educational infrastructure, has extremely low profitability and long payback periods. Accordingly, in the short and medium term, there is no effect from rising public investment in education. Simultaneously, upon reaching a certain level of educational maturity (in developed countries), the marginal efficiency of public investments begins to decline. In fact, the law of diminishing marginal productivity of government expenditures begins to work, when their additional increase does not lead to a significant increase in the human development index.

Social Structure and Conflicting Elite Interest

This paper is a comparative study of the elite capture in Pakistan and the developmental structure in South Korea. The paper seeks to examine: why does the Pakistani state remain captured by social actors, despite similar post-colonial geopolitical trajectories of Pakistan and South Korea, failing to set up a developmental state and transform into an Asian tiger? On the other hand, South Korea was able to become a developmental state and achieved high rates of social and economic growth, uplifting the living standards of the vast majority of its population. It identifies social structure and conflicting elite interest as twin independent variables explaining the divergent (outcome) dependent variable of a developmental state in South Korea and a predatory state in Pakistan. This paper refutes the neoliberal school of thought that attributes the success of the East Asian Tigers to market forces rather than the role of the state. It aligns itself with the developmental state theory and neo-statist approach emphasizing on state intervention to explain the phenomenon of the East Asian economic miracle and likewise, the failure of Pakistan to achieve similar levels of socioeconomic growth.

Basic Economic System of Socialism and Market in China

The Chinese science’s recognition of the possibility of a market under socialism in China was a major breakthrough in the theory of Marxism. The combination of socialism and the market marked the beginning of formation of a socialist market economic system and development of mixed economy with the public property as basic. The principle of “public property is the basis，joint development of the economy of many forms of ownership” was officially called the specifics of Chinese socialism at the initial state of its development and one of its most important advantages, that made it possible to ensure high economic growth rates over the past 40 year and to transfer China into the second world economic power. But this specificity and the advantages of socialism with Chinese specifics can be manifested and realized on the institutional level only through a certain coordinate system, known as the fundamental system for state governance, namely through one of its system responsible for governing the Chinese economy, known as the basic economic system of socialism. In 2019 according to the decision of the 4th plenum of the CPC Central Committee of the 19th convocation, the status of the socialist market economy system was raised: it was announced as an integral part of the basic economic system of socialism, which is responsible for guidance and development of China’s economy at the institutional level. The role and significance of the market system of China has increased sufficiently: the market is going to become the decisive driver for socialist modernization of the Chinese economy.

Contribution of Co-operative in Nepalese Economy

This study "Contribution of Co-operative in Nepalese Economy" (A Case Study of Paropakar Saving and Credit Cooperative Ltd) is an attempt to explore the overall status and activities, credit, and the investment pattern in the business sector of Paropakar saving Credit Cooperative Ltd, and also find out the types of credit provided to the team members of saving and Cooperative. This study is based on both qualitative and quantitative research designs. It employed historical, analytical, and descriptive research exclusively based on secondary data. Annual report of Paropakar Saccos to achieve the research objective. I have edited, coded, and tabulated the accumulated data and presented it in the form of a graph, table, chart, and trend line. The finding of the study shows that there is a high investment in NEFSCUN in comparison to other sectors. It provides a huge amount of business loans to the businessman for the creation of economic activities which ultimately helps to achieve the economic goal of the cooperative. It also reflects that the investment pattern is low in comparison to the credit patterns in the Saccos. The cooperative should invest the money in the productive sector which helps to uplift the living standard of poor, marginalized, vulnerable, women, disabled, and economically disadvantaged people and high rate of economic growth. Moreover, by providing various loans, Co-operative helps to attract the youth in the agriculture sector, and also helps to produced small scale to the higher-level businessman.

Income distribution, technical change, and economic growth: A two-sector Kalecki–Kaldor approach

This paper presents a two-sector Kalecki–Kaldor model of income distribution, technical change, and economic growth. The model is Kaleckian in the sense that it incorporates mark-up pricing, investment independent of saving, and excess capacity. It is also Kaldorian, in that labour productivity growth is led by Kaldor’s technical progress function. In other words, productivity growth is endogenously realised through the technology embodied in new capital stock, which differentiates our model from previous two-sector models. Our extension drastically changes the standard Kaleckian implications. We find that although the economic activity levels in the short run are led by the demand and income distribution parameters, economic growth in the long run is realised by supply-side (i.e. technical change and the associated productivity and wage growth) parameters. The important implication of our findings is that a two-sector economy faces a trade-off between a high economic growth rate and the local stability of the steady state.

Economic and Institutional Determinants of Mergers & Acquisitions in BRICS, G7 and G20 Economies

Factors contributing towards increasing the number of mergers and acquisitions (M &A) among firms and the volume of business and sales of these firms are assessed empirically based on results of the static and dynamic panel data models for BRICS, G7 and G20 countries in this investigation. While the higher rates of economic growth and foreign direct investment (FDI) contribute positively to the occurrence of M &A activities, these effects are even more prominent with greater efficiency in government institution, qualities of regulation, voice accountability and control of corruption. In the meantime, higher inflation and corporation tax rates reduce the numbers but the volumes of the M & A activities. Size of the business matters, medium or large corporations merge to exploit scale economies, to benefit from larger markets and to retain market power by operating across the globe.

Сравнительный анализ инновационной активности компаний высокотехнологичного и низкотехнологичного секторов

The level of innovation activity has not changed for a large number of years, despite the measures taken by the state. Based on empirical data, the article examines the dynamics of the following components of companies’ innovative activity in high-tech and low-tech sectors of the manufacturing industry: introduction of product and other types of innovations; activities to improve the qualifications of personnel; purchase of licensed foreign technologies and intangible assets. We also tested the statistical significance of differences in the levels of innovation activity of high-tech and low-tech companies in different economic conditions using the t-criterion. The analysis showed a decrease in the share of companies engaged in any kind of innovative activity. During the period of economic growth, both high-tech and low-tech companies made equal use of opportunities to increase innovation activity. 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, but it does not lead to greater innovation activity; companies are only updating their technological base. During the period of weak economic growth, companies in both sectors continued to reduce their innovative activity in all areas. The resumption of growth trends in innovative activities is possible only when companies see the prospects from the implementation of innovative activities.

Зарубежный и отечественный опыт реализации инфраструктурных проектов и программ развития территорий

Infrastructural investment differs significantly from the forecasted indicators because of global demand. The politicization and overregulation of global infrastructure market negatively affects its growth. The effectiveness of state programs depends on quality of the institutional environment. The paper analyses approaches to the implementation of national programs in China, USA, Great Britain, and Germany. China’s high economic growth rate is due not only to low cost of labor, but also to the fact of joining the World Trade Organization and large-scale infrastructure investments. Successful experience of infrastructural programs’ implementation in the UK is mostly due to the fact that the selection of projects is based on their social and economic significance and is made in accordance with the goals of public policy. Public and private partnership (PPP) is a popular mechanism for infrastructure projects’ financing. However, there are cases of inefficient public and private partnership (PPP) projects. Risks of a private partner may not correspond to the level of required profitability even under conditions of strategic decision making when project is supported by the state. Infrastructural bonds are an effective tool for public and private partnership (PPP) in conditions of a shortage of credit resources for the construction of expensive infrastructural facilities. Risks associated with project implementation can be reduced thank to management quality. Public control encourages the state to evaluate large infrastructural projects in terms of economic benefits and potential environmental, and social consequences. The issues of infrastructural development are relevant for Russian regions. The gap between demand and actual investment is 1.63% of GDP. National infrastructure projects should be implemented in accordance with goals and objectives of strategies of social and economic development.

The Role of Investment in Ensuring High Rates of Economic Growth

Annotation: This article describes the role of investment in ensuring high economic growth, as well as investment policy in Uzbekistan and the implementation of projects to restructure the economy, modernize industries, technical and technological renewal. Keywords: investment, investment policy, foreign investment, agriculture, mineral resources.

No country for old men: Aging dictators and economic growth

Why do some autocracies have higher economic growth rates than others? An emerging literature is highlighting that in addition to economic and institutional variables, personal characteristics of political leaders affect economic growth rates. Within this tradition, we develop a political-economic growth model of the relationship between the age of a dictator and economic growth. The model predicts that if a dictator's mortality risk increases, the economic growth rate in his country decreases. The model predictions are supported by empirical evidence based on a large sample of more than 400 dictators from 76 countries. A 1-year increase in dictator age, decreases economic growth by 0.12 percentage points. Using random leadership transitions due to natural deaths or terminal illnesses we establish that this effect is not driven by endogenous sample selection. As expected, the effect is absent in democratic political regimes.

Implications of Korea from Changes in China’s Cross-Border E-Commerce Policy and Consumption Policy

Purpose Purpose - The purpose of this study is to analyze changes in China s cross-border e-commerce policy and consumption policy and the contents and characteristics of the process and to suggest implications for Korea. Design/Methodology/Approach This study collected and analyzed data provided by research institutes and institutions, China s cross-border e-commerce laws and consumption policy-related laws, and various policy data of each government department. Findings First, as China s cross-border e-commerce revitalization policy and consumption expansion policy are combined, related industries will grow rapidly in the future. Second, China s cross-border e-commerce policy will be led by the government and utilized as a part of the export increase policy under more sophisticated management and supervision. Third, China s consumption expansion policy is leading to active expansion of domestic demand in rural and urban areas as a means to achieve a consistently high economic growth rate. Fourth, the proportion of B2C in the trade structure of cross-border e-commerce is steadily increasing, and this is largely thanks to the change in China s consumption level and the government s policy support. Lastly, cross-border e-commerce will more expand and grow due to the “Measures to Promote Promotion of New Consumption” announced in 2021. Research Implications This study analyzed the contents and characteristics of each of China s cross-border e-commerce policy and consumption policy from two perspectives and tried to find commonalities between the two policies. In addition, based on the contents of this study, we presented implications by deriving what companies doing cross-border e-commerce business with China should prepare and prepare for.

Crowding in and crowding out within a contribution good model of research

In standard economic theory, government support of science is expected to confer external benefits and ‘crowd-in’ additional private sector research. However, higher rates of economic growth from this effect are not easily discerned from the long run data, and government and business financed R&D have moved in opposite directions (as a proportion of GDP) since the early 1960s in the US and elsewhere. This paper looks at potential sources of ‘crowding out’ as well as ‘crowding in,’ and compares standard analysis with a ‘contribution good’ model of science. Two different policy issues are identified – the assembly of ‘critical mass’ for the ‘kick starting’ of commercial science, and the expansion of commercial science beyond its ‘private equilibrium’. We analyse the allocation of scarce business as well as scientific skills between sectors. The model produces regions of both crowding in and out. The latter dominates for very high wages in the public sector as the government deprives the private sector of the means to exploit new knowledge.

A cluster policy as a fundamental component of regional economic development (the case of the Rostov Region)

The primary objective of a cluster policy is to ensure high rates of economic growth and diversification of regional economies by improving competitive abilities of enterprises, suppliers of equipment, components, providers of specialized production and customer services, R&D and education organizations that comprise geographical clusters. The cluster approach is a key constituent of the socioeconomic strategies in several Russian regions and municipalities, as shown by the project “The Cluster Policy Concept in the Russian Federation”, developed by the Ministry of Economic Development of the Russian Federation. This article focuses on a methodology for successful spatial clustering and cluster specialization analysis in the Rostov Region as the subject the Russian Federation. A comprehensive analysis of the spatial development of a subject of the Russian Federation is carried out through generalization and systematization of urban planning documents, together with the analysis of the current state of spatial development in the region. Presently, there is no integrated approach to assessing this territory of the Russian Federation in terms of the cluster policy development. The co-authors suggest customizing the universal assessment methodology for the cluster development of the Russian Federation. A comprehensive analysis of spatial development of the Russian Federation is carried out through generalization and systematization of urban planning documents, together with the analysis of spatial development in the region. A comprehensive assessment of a territory represents an integrated approach to the analysis of the spatial distribution and quality characteristics of all types of resources. A comprehensive assessment of the territory was made using geographic information systems, which are extensively used in the process of managing the spatial development, particularly in the spatial analysis of territories. ArcGIS software package is used as a tool for the comprehensive assessment of the territory. Following the comprehensive assessment, functional specialization maps of the Rostov region were made. The transportation and logistics cluster was indicated on the map, and the rating of the Rostov Region’s districts was displayed on the map.

Infectious Diseases, Trade, and Economic Growth: a Panel Analysis of Developed and Developing Countries

The purpose of this paper is to examine the effect of infectious diseases on trade and economic growth in 88 countries (44 developed countries and 44 developing countries). Annual panel data from 1996 to 2018 are examined using the Pedroni panel cointegration test in order to check the existence of a long-run relationship; FMOLS, DOLS, and the VECM techniques to detect the causality direction. The following findings are established. First, in the long run, infectious diseases are more destructive on economic growth in developing countries than in developed countries. Second, infectious diseases have a negative and significant influence on the trade openness, but more intensively in developed countries than in developing countries. Finally, using the VEC model, our results demonstrate that the short run causality between diseases, economic growth, and trade openness is unidirectional running from infectious diseases to trade and economic growth. However, in the long run, there is bidirectional Granger causality among the running variables. Based on these results, government makers should concentrate more on the healthcare delivery in order to realize higher rates of economic growth and trade.

Theoretical foundations of sustainable development of Azerbaijan

Sustainable development is one of the fateful paradigms of modern humanity, the most important economic challenge facing society. The successful economic policy pursued during the years of independence allowed Azerbaijan to achieve high rates of economic growth, exceeding the same indicator not only in the post-Soviet space, but in some years throughout the world. The purpose of this study is to investigate the theoretical foundations of sustainable development in Azerbaijan, as well as to explore the theoretical foundations of the concept of sustainable development in general. The study of the theoretical aspect of sustainable development as a concept, as well as sustainable development on the example of Azerbaijan, was accomplished with general scientific methods of scientific cognition. The main toolkit included the methodology of a systemic, integrated, and structurally functional approach to the study of sustainable development issues, as well as the principles of deduction, induction, generalisation, and analysis. In the process of scientific research, statistical, logical, and other methods of processing and generalising information were used due to specific goals and objectives. This study examines complex strategies for development, sustainable development, and environmental protection both in the economy as a whole and in individual sectors. The short-term and long-term goals of the concept of sustainable development of Azerbaijan were also considered. The practical value of this study lies in the fact that its results can be used to study the main aspects of sustainable development. The results of this study can also be used to learn about the level of sustainable development of Azerbaijan.

Groundwater modeling from Tien Thanh to Ke Ga area, Binh Thuan province

The coastal area, from Tien Thanh to Ke Ga including Thuan Quy and Tan Thanh communes, is among the regions having a high economic growth rate of Ham Thuan Nam district, Binh Thuan province. The economic growth rate thanked to the development of coastal tourist sites and cultivating areas of dragon fruit, resulted in the increased water demand. Due to the limitation of the water supply system and surface water, the region's main supply comes from the groundwater. The massive and uncontrolled exploitation could lead to the exhaustion and pollution of water reservoirs in the coastal Quaternary aquifer. To serve the management and use of groundwater resources, we calculated the used reserves of the entire area by modeling the layer containing water in the area using the Modflow module of GMS software 10.4 (Groundwater Modeling System). The input data were collected through the suction pump experiment, water samples, survey on exploitation, and results of research reports of nearby areas. The normalized steady-state models showed that aquifers in the area were recharged by rainwater, and re-fed to rivers, partly forming the flows to the sea. If the amount of wasted water into the sea was considered as the total exploitable reserve, the used reserve of underground water in this area is 70,158 m3/day.

Industrialisation for structural transformation: Economy-wide impacts of agro-processing development in Tanzania

ABSTRACT Despite high economic growth rates experienced recently, socio-economic challenges such as poverty still prevail in Tanzania. This has been attributed to unsuccessful economic transformation where labour has moved out of agriculture into mainly relative less productive services and informal sectors, leapfrogging the highly productive manufacturing sector. The government is targeting the expansion of agro-processing activities for economic transformation and four policy options were explored. Results of a computable general equilibrium model indicated that policies such as (1) attracting foreign direct investment to improve productivity should be encouraged, especially if (2) coupled with export strategies. (3) Agricultural expansion is also crucial to expand the input base for agro-processing activities. (4) Non-targeted policies such as improving education may not be sufficient for the sector’s expansion but are crucial for the expansion of the whole economy. Government should be mindful of the varied implications of different policies on factor returns and household incomes.