Strategy For Inclusive Growth Research Articles

Technology and AI—Impact on Country’s Growth and Unemployment

This study examines the impact of artificial intelligence (AI) adoption on economic growth and unemployment across G7 countries and India. As AI emerges as a transformative technology, there is a need to understand its effects on labour markets and develop appropriate policy frameworks. The research analyses historical patterns of automation and technological change to provide context for the current AI revolution. The study employs a mixed-methods approach, combining quantitative statistical analyses with qualitative assessments. Variables examined include GDP growth rates, R&D investment levels, AI adoption rates, and productivity gains. Descriptive statistics, correlation analyses, regression models, and cluster analyses were conducted to identify relationships between key variables. Results reveal a significant technology adoption gap between high-tech leaders and developing economies. A growth paradox was observed in developing tech economies, where rapid AI adoption did not necessarily translate to proportional economic gains. The research found complex relationships between technological advancement, unemployment rates, and investment levels across countries. Cluster analysis identified three distinct groups: Advanced Economies, Technology Leaders, and Developing Tech Economies. ANOVA and chi-square tests confirmed statistically significant differences between these clusters. Multiple regression analysis on unemployment rates provided insights into the factors influencing job displacement. Key findings include: 1) AI adoption shows potential to significantly boost GDP growth and productivity, though effects vary by country. 2) The relationship between technological progress and unemployment is nuanced, defying simplistic narratives. 3) Investment levels strongly correlate with technological advancement, but other factors also play important roles. 4) Leaders in AI adoption exhibit certain common characteristics, offering potential lessons for other nations.The study concludes that while AI presents substantial opportunities for economic growth, its benefits are not uniformly distributed. Policymakers must develop strategies for inclusive growth, equitable access to technological advancements, and robust safety nets to address potential economic stratification. Future research directions are suggested to further explore the long-term implications of AI on global economies and labour markets. This research contributes to the ongoing dialogue on AI's societal impact and provides evidence-based insights to inform policy decisions in an era of rapid technological change. The findings underscore the need for nuanced, context-specific approaches to AI adoption and regulation across different economic contexts.

Effect of internet penetration on ICT export, economy, and employment in Bangladesh: Evidence from vector error correction and local projection

The advent of Industry 4.0 is imminent, with the internet emerging as a pivotal catalyst for this impending revolution as general-purpose technology (GPT). This study examines the transformative impact of internet penetration on economic development and employment dynamics in Bangladesh. Leveraging time series data from 1996 to 2022, and employing Vector Error Correction Model (VECM) and Linear Projections (LP) methodologies, the research reveals significant insights into the relationship between internet penetration, ICT exports, GDP growth, and employment trends. Findings indicate that a 10% increase in internet penetration led to a notable 4.7% rise in ICT exports and a marginal 0.8% increase in GDP, albeit with a concerning 1.1% decline in formal sector employment. While highlighting the positive influence of internet connectivity on trade and economic activities, the study underscores the challenges of job displacement and the need for inclusive and equitable growth strategies in the face of technological big push.

A STUDY ON SECTORAL DEVELOPMENT, GROWTH AND CHALLENGES IN CHHATTISGARH

This study looks into the sectoral development, growth trajectories, and difficulties confronting the Indian state of Chhattisgarh. Chhattisgarh, which was established in 2000, has experienced tremendous economic growth, especially from agriculture, mining, and the industrial sector. This study takes a mixed-methods approach, combining quantitative data analysis with qualitative interviews to evaluate these sectors' contributions to the state's GDP and employment. Key findings show that, while agriculture remains the economy's backbone, the mining sector has attracted significant investment, driven growth while generating environmental and social issues. Industrial expansion, particularly in the industrial and service sectors, provides chances for diversification; nevertheless, infrastructure gaps and regulatory challenges stymie progress. The research also outlines key challenges, such as socioeconomic inequality, environmental degradation, and the need for skill development. Policy recommendations emphasise the relevance of sustainable practices, inclusive growth strategies, and improved infrastructure in promoting holistic development. This research contributes to the understanding of regional economic dynamics and offers insights for policymakers aiming to foster sustainable development in Chhattisgarh.

Learning mobility in European higher education: How has the Union’s flagship initiative progressed?

AbstractIn 2010, the European Commission set out the development of an economy based on knowledge and innovation as one of the priorities of its Europe 2020 strategy for smart, sustainable, and inclusive growth. This culminated in the ‘Youth on the Move’ flagship initiative, aimed at enhancing the performance and international attractiveness of Europe’s higher education institutions and raising the Union’s overall education and training levels. Therefore, it is relevant to assess the performance of the ‘Youth on the Move’ initiative via the creation of composite indicators (CIs) and, ultimately, monitor the progress made by European countries in creating a positive environment supporting learner mobility. For this reason, we make use of the CI-building ‘Benefit-of-the-Doubt’ approach, in its robust and conditional setting to account for outliers and the human development of those nations, to exploit the European Commission’s Mobility Scoreboard framework between 2015/2016 and 2022/2023. Furthermore, we incorporate the value judgements of experts in the sector to construct utility scales and compute weight restrictions through multi-criteria decision analysis. This enables the conversion of ordinal scales into interval ones based on knowledgeable information about reality in higher education. In the end, the results point to a slight performance improvement, but highlight the need to improve the ‘Recognition of learning outcomes’, ‘Foreign language preparation’, and ‘Information and guidance’.

FROM MONEY TRANSFERS TO MEAL TABLES: UNRAVELLING THE NEXUS OF REMITTANCES, FOOD SECURITY, AND ECONOMIC GROWTH IN TURKEY

The link between remittances, food security, and economic growth is a complex and important element of the economic development of the society. The study aims to explore the causality relationships between Remittances, Food Security and Economic Growth in the Turkish economy. The period of study from 1974 to 2018 and annual data of Remittances, Calories intake (as a proxy for the food security) and Economic Growth are used in the framework of time series. Techniques such as Zivot-Andrews (ZA) unit root, Toda-Yamamoto (TY), Breitung-Candelon (BCG), and Hatemi-J tests are used to detect the causality assessing the direction of it. The main findings consist of: (i) the presence of cointegration of rank two among series, the lack of linear TY time domain causality; (ii) the presence of BCG spectral causality from Calories intake to Growth only in medium period at 10% significance and, (iii) the presence of asymmetric causality from Remittances to Growth in positive changes, from Growth to Calories intake in negative changes and from Calories intake to Remittances in positive changes respectively at 1,5, and 1% significance. These results provide policymakers with valuable insights into the complexity nature of the relationship among remittances, food security, and economic growth, guiding them in designing effective strategies for poverty alleviation, sustainable development, and inclusive growth.

The Role Of Investment In Education In Enhancing Economic Welfare

This research aims to explore the role of education as an investment in enhancing economic welfare. The study investigates how education, as a crucial component of human capital, contributes to economic well-being by promoting economic growth, job creation, productivity improvement, and reducing income disparities. Utilizing qualitative methods with a literature review approach, this study evaluates empirical evidence supporting the positive relationship between investment in education and various economic benefits. The findings indicate that investment in education significantly impacts economic growth by increasing workforce productivity, stimulating innovation, and reinforcing economic infrastructure. Furthermore, education investment fosters job creation by enhancing workforce skills, supporting the education and training sector, and promoting innovation and entrepreneurship. Additionally, the study highlights that quality education enhances productivity by developing technical, analytical, and creative skills, improving resource utilization, and facilitating technological adoption. Lastly, the research underscores that investment in education reduces income disparities by ensuring equal access to education, increasing social mobility, and reducing skill gaps. The policy implications emphasize the need for sustainable education investments, strengthening skill training, and fostering an environment conducive to innovation and entrepreneurship. This study provides essential insights for policymakers to design inclusive and sustainable economic growth strategies, demonstrating that education is a pivotal investment for enhancing the economic well-being of communities.

Global challenges and developing economies: Strategies for inclusive and sustainable growth

Global challenges and developing economies: Strategies for inclusive and sustainable growth

Integration of Artificial Intelligence into Sustainable Development Goals in India

In the pursuit of sustainable development, the fusion of artificial intelligence (AI) with legal mechanisms emerges as a potent force for transformative change. This paper delves into the intricate interplay between AI technologies and the legal framework, elucidating their collective capacity to address multifaceted challenges and propel progress towards the Sustainable Development Goals (SDGs). At the forefront of environmental stewardship, AI-driven solutions offer unprecedented capabilities in pollution monitoring, waste management, and climate change adaptation. From predictive analytics for air quality assessment to real-time monitoring of deforestation patterns, AI empowers stakeholders with actionable insights to mitigate environmental degradation and foster resilience. Simultaneously, AI applications hold promise in addressing socio-economic inequities through innovative approaches to poverty alleviation, financial inclusion, and inclusive growth strategies. By leveraging predictive modelling and data analytics, AI facilitates targeted interventions tailored to the unique needs of marginalized communities, thereby fostering sustainable development trajectories. However, the ethical and regulatory dimensions of AI deployment necessitate careful consideration within the legal framework. Ensuring data privacy, algorithmic transparency, and equitable access emerges as imperatives in harnessing the full potential of AI for societal benefit. Through the formulation of robust regulatory frameworks and ethical guidelines, the legal system plays a pivotal role in safeguarding against potential risks and maximizing the societal dividends of AI innovation. Moreover, interdisciplinary collaboration and stakeholder engagement are paramount in navigating the evolving landscape of AI governance, fostering dialogue, and consensus-building among diverse stakeholders. Thus, this paper advocates for a holistic approach to sustainable development, synergizing the transformative potential of AI with the protective mechanisms of the legal system. By fostering innovation, inclusivity, and accountability, this symbiotic relationship serves as a catalyst for advancing the global agenda towards a more equitable, resilient, and sustainable future. Keywords: Artificial Intelligence, Climate Change Adaptation, Deforestation, Education, Healthcare, Legal System, Pollution, Poverty, Sustainable Development Goals, Water and Waste Management.

Evaluating the impact of a 24-hour economy on Ghana's economic landscape: A computable general equilibrium approach

The National Democratic Congress (NDC), Ghana's leading opposition political party, has unveiled an ambitious ‘24-hour economy’ policy proposal ahead of the country's forthcoming general elections in 2024. The policy aims to revitalise the nation's economic landscape by fostering round-the-clock operations in key sectors. This paper employs a dynamic Computable General Equilibrium (CGE) model framework, underpinned by the 2015 Ghana Social Accounting Matrix (SAM) and the 2021 Ghana Population and Housing Census (PHC) data, to evaluate the potential impact of the policy on Ghana's economy.Results indicate that under the proposed ‘24-hour economy’ policy, Ghana's real GDP growth (not to be confused with GDP growth rate) in ten years would be 31.71 % higher than it would have been under a ‘business-as-usual’ scenario in the same timeframe. This indicates substantial augmentations in economic output within the Ghanaian economy under a ‘24-hour economy’ setting. Further, the policy would generate more than 3 million jobs within five years of its implementation, with manufacturing, agriculture, wholesale and retail trade, services, construction and transport sectors experiencing substantial employment gains.The policy's transformative effects are driven by its ability to stimulate capital investment and capital formation, boost productivity and increase household incomes.The paper concludes that the NDC's proposed ‘24-hour economy’ policy holds substantial potential for transformative economic growth in Ghana. However, there are potential challenges associated with the implementation of the policy, which then necessitates a holistic approach to policy formulation, focusing on inclusive growth and sustainable development strategies.

The role of energy efficiency in income inequality dynamics in developing Asia: Evidence from artificial neural networks

This study investigates the drivers of income inequality trends in seven developing Asian countries between 1990 and 2022, exploring the effects of energy efficiency, government spending, economic growth, globalization, and human development. The study investigates how these variables affect income inequality using various statistical methods, including long-run machine learning and prediction models. The findings indicate a negative impact of energy efficiency on income inequality, highlighting the potential of energy-saving measures in narrowing the income gaps between the rich and poor. Government spending, economic growth, globalization, and human development are also crucial in alleviating income inequality in developing Asian countries. This study underscores the importance of tailored policies, advocating for investments in energy efficiency, targeted government spending, larger economic integration, and inclusive growth strategies to address income inequality in developing Asia.

Predicting energy source diversification in emerging Asia: The role of global supply chain pressure

This study investigates energy diversification trends in six Emerging Asian countries from 1998 to 2021 while exploring the predicting effects of the global supply chain pressure, total investment, innovation, economic growth, and globalisation on energy diversification. This study considers the Kernel-Based Regularized Least Squares (KRLS) estimations and prediction models (Adam and Stochastic Gradient Descent optimisers). The impacts of global supply chain pressure and total investment on energy diversification are positive. Innovation also emerges as crucial factor to enhance energy diversification. Deeper integration into the global economy (globalisation) and economic growth strengthen energy diversification. The study underscores the importance of tailored policies, advocating for investments in innovation, targeted total investment, and inclusive growth strategies to address energy diversification in emerging Asian countries.

The Impact of Artificial Intelligence on Job Loss: Risks for Governments

The rapid advancement of Artificial Intelligence (AI) technologies presents both opportunities and challenges for labor markets globally. By adopting a qualitative methodology, this study analyses the impact of AI integration in jobs on the labor market and the subsequent policy responses by governments. The study specifies the industries and jobs that are highly susceptible to AI-driven automation, particularly those characterized by routine and repetitive tasks. The study also acknowledges the potential for AI to create new job categories. Key findings suggest that while AI poses a significant risk of job displacement in several sectors, it also offers opportunities for economic growth, opening of new jobs and innovation. Moreover, the study highlights various government strategies employed globally, including up-skilling and re-skilling initiatives, strengthening social protection systems, and fostering AI-human collaboration. These strategies aim to mitigate the adverse impacts of AI on employment and ensure a balanced transition to AI-integrated economies. Based on these strategies, the paper suggests some recommendations for governments to address AI-driven job losses, emphasizing the importance of multidisciplinary education, ethical AI use, inclusive growth strategies, and international cooperation.

ROADS TO RENEWAL: INVESTIGATING THE SOCIO-ECONOMIC INFLUENCE OF THE YAMUNA EXPRESSWAY ON ALIGARH-JEWAR REGION

Infrastructure projects often claim to transform the communities through which they cross. This study investigates the social and economic implications of the Yamuna Expressway in Indias Aligarh-Jewar region. Through the utilization of a combination of methods, the research examines the impact of this extensive infrastructure project on local job opportunities, trends in urban growth, and alterations in peoples means of living. The highway has greatly decreased commute times and has facilitated economic and social changes throughout the area. The results indicate that despite significant economic growth and infrastructure improvements, issues like environmental damage and social inequities also emerge. This study adds to the knowledge of how transport infrastructure affects regional development, providing important information for decision-makers and those involved in similar projects. It also examines the role of policy in managing these outcomes, emphasizing the need for sustainable practices and inclusive growth strategies. This paper contributes to understanding the dualistic impact of transport infrastructure on regional development, offering insights that are vital for policymakers and stakeholders engaged in similar infrastructure projects. KEYWORDS: Regional development, social dynamics, urbanization effects, socio-economic impact, environmental implications, government policies, road development, infrastructure development

Fostering inclusive green growth in China: Identifying the impact of the regional integration strategy of Yangtze River Economic Belt

Inclusive green growth has garnered significant attention from governments and international organizations worldwide. Utilizing data from 282 cities in China spanning from 2010 to 2020, this study employs the dual machine learning model and the chain mediated effect model to delve into the effects and internal mechanisms of the regional integration of Yangtze River Economic Belt on inclusive green growth. Our findings indicate that the regional integration of Yangtze River Economic Belt has a substantial influence on inclusive green growth, particularly in cities with a higher degree of marketization, non-industrial cities, and cities lacking natural resource advantages. Mechanistic analysis reveals that the regional integration of Yangtze River Economic Belt exerts its influence on inclusive green growth through three parallel development paths including enhancing urban innovation levels, fostering mass entrepreneurship, and promoting the advancement of digital financial inclusion. Furthermore, the chain mediated effect is supported. Additionally, the spatial spillover effect of target policy is observed. These findings offer empirical evidence regarding the impact of the regional integration of Yangtze River Economic Belt on inclusive green growth, and provide valuable insights for optimizing and enhancing inclusive green growth strategies in China and other emerging economies.

Exploring the Economic Challenges Threatening Global Agriculture and Food Security

This review delves into the intricate challenges confronting global agriculture and food security through a scientific lens, focusing on key economic factors such as climate change, resource scarcity, technological gaps and policy structures. Climate change induced disruptions also pose threats to crop productivity, hence the need for adaptation. In terms of scarcity, especially in water, land and energy resources there is a need for innovative solutions that are sustainable. The digital divide widens productivity disparities among smallholder farmers. Trade stability affects people’s lifestyles, which need immediate policy responses with high accuracy. Socioeconomic factors shape effective policy frameworks which are important predictors of agricultural behaviour. The inclusive growth strategies should capture the intricacies of production. Creativity informed by technological developments and teamwork becomes a key driver. These complexities require a concerted global response to traverse them and create an equitable, robust future for world agriculture.

Navigating the Ai Employment Landscape: Strategies for Workforce Readiness and Inclusive Growth in Malaysia

Navigating the Ai Employment Landscape: Strategies for Workforce Readiness and Inclusive Growth in Malaysia

How Do Inclusive Growth Practices Affect Financial Performance and the Value of Metallurgy Companies?

The article examines inclusive growth practices used in metallurgical companies and assesses their impact on financial results and value. An analysis of data from 102 of the largest companies in the metals industry between 2016 and 2021 showed that reducing greenhouse gas emissions, improving air quality, proper waste disposal, building an inclusive supplychain, respecting human rights and building community relations in the places where the company operates have a positive impact on its financial results and value. The results of the study can be used by top managers of metallurgical companies to formulate an inclusive growth strategy that meets the interests of all stakeholders, which will improve financial results and contribute to the growth of company value.

Do Inclusive Growth Strategies Affect Corporate Financing Policy? Evidence from The Metal and Mining Sector

The influence of inclusive growth strategy on corporate financing policies is examined within the metals and mining industry. A dataset comprises 212 of the largest publicly traded companies observed from 2016 to 2021. An econometric analysis revealed no significant effect of inclusion indicators on the financing policies of these companies. However, a positiveassociation between the corporate resource efficiency and leverage levels was observed. Though no single inclusion indicator influences the volume of sustainable financing, the indicator of human rights compliance positively impacts the number of such financing arrangements. Furthermore, only the levels of emission reduction and the extent of improvementin living standards of local communities significantly influence the cost of capital (with a positive dependence for the former, and a negative dependence for the latter). Inclusion indicators have little impact on the capital structure, with leverage levels largely determined by metals pricing dynamics. Higher levels of inclusion correlate with increased utilizationof sustainable financing. The findings can be used when implementing inclusive growth strategies in the metals and mining industry as well as when deciding on the financing of projects within this sector. We believe that analysis of other industries and a longer period of time, different results may be obtained. This is, on the one hand, a limitation of this work,and on the other hand, an area for further research.

Towards inclusive green growth: does digital economy matter?

In this decade, China has been pursuing an inclusive green growth strategy. Concurrently, the digital economy, which relies on the Internet of Things, big data, and artificial intelligence, has experienced explosive growth in China. The digital economy's capacity to optimize resource allocation and reduce energy consumption potentially makes it a conducive channel towards sustainability. Using the panel data of 281 cities in China from 2011 to 2020, we theoretically and empirically explore the impact of the digital economy on inclusive green growth. Firstly, we theoretically analyze the potential impact of the digital economy on inclusive green growth using two hypotheses: accelerating green innovation and promoting the industrial upgrading effect. Subsequently, we measure the digital economy and inclusive green growth of Chinese cities using Entropy-TOPSIS and DEA approaches, respectively. Then, we apply traditional econometric estimation models and machine learning algorithms to our empirical analysis. The results show that China's high-powered digital economy significantly promotes inclusive green growth. Moreover, we analyze the internal mechanisms behind this impact. We find that innovation and industrial upgrading are two plausible channels that explain this effect. Additionally, we document a nonlinear feature of diminishing marginal effects between the digital economy and inclusive green growth. The heterogeneity analysis shows that the contribution weight of the digital economy to inclusive green growth is more remarkable in eastern region cities, large and medium-sized cities, and cities with high marketization. Overall, these findings shed more light on the digital economy-inclusive green growth nexus and provide new insights into understanding the real effects of the digital economy on sustainable development.

Causes and Impact of Agricultural Labour Migration: A Case Study of Ranchi District

India's economy has always been based on agriculture. The key component in the production of agriculture is laborers in the agricultural sector. The use of human resources is crucial. Due to agricultural workers moving to different regions of the nation to find work, there is an imbalance in the supply and demand for labor. Labor migration is still a significant issue that needs to be tackled in order to stabilize output in a certain area. The rate of labor absorption in agriculture may rise under certain conditions if cultivation is intensified. Migration is, and has been for millennia, a way of life for many poor people all throughout the world. However, globalization has drastically changed the scope of migration because it has made it easier for people to travel and made them more aware of opportunities elsewhere. In Jharkhand and India, seasonal agricultural laborer migration is not a recent phenomenon. During their rule, the British mobilized the labor force for commercial crop cultivation, mining, and other administrative objectives. The socialist-capitalist (mixed economy) model of development was implemented by the Government of India (GOI) through five-year planning after the country's independence. The regional gap is growing as a result of the inadequate agricultural development policies, which is fueling a rise in the seasonal migration of agricultural laborers. The goal of inclusive growth strategy is to integrate underrepresented groups into the mainstream economy, including women, marginalized groups, castes, classes, and tribes. Keywords: Migration, Marginalized Groups, Opportunities, Labor