Inclusive Industrial Development Research Articles

Integrating Environmental Sustainability into Macroeconomic Frameworks: The Eco-Keynesian Cross

The ecological transition hinges on ecological structural change, necessitating smart macroeconomic policies. Incorporating ecological considerations into macroeconomic modelling constitutes a pivotal area of inquiry that examines the nexus between environmental sustainability and economic expansion. This article proposes a macroeconomic modelling to establish a foundational analytical framework to address this challenge. Incorporating ecological considerations into macroeconomic modelling constitutes a pivotal area of inquiry that examines the nexus between environmental sustainability and economic expansion. Contributing to the post-Keynesian Ecological Macroeconomics field, this paper proposes an eco-Keynesian cross due to its simplicity and widespreadness for teaching macroeconomics to illustrate the macroeconomic perspective of green targets strategies in a closed economy. Green public and private investments have the potential to enhance output through the multiplier effect and improve environmental efficiency. However, these investments may also induce rebound effects, resulting in a net increase in pollution intensity within the economy. The model underscores the potential trade-off between social and environmental objectives, which an ecological perspective seeks to surmount by advocating for sustainable and inclusive industrial development.

Catalyzing India's Progress: Integrating Youth Empowerment, Skill-Based Education, and Economic Development Initiatives

India, home to the world's largest youth population, recognizes its youth demographic as a pivotal 'window of opportunity' for national growth and development. The challenge lies in proactively addressing the multifaceted needs of this demographic to harness its potential effectively. This paper explores the intersection of youth, skill-based education, and national development, emphasizing the critical role of skill-based education in equipping the youth for a dynamic job market and fostering comprehensive socio-economic development. The National Education Policy 2020 serves as a transformative milestone, envisioning a holistic education system aligned with 21st-century goals. Key features include universal access to schooling, vocational integration, and targeted literacy goals, reflecting a commitment to nurturing a skilled and enlightened youth. The Micro, Small, and Medium Enterprises (MSME) sector emerges as a crucial player in inclusive industrial development, providing substantial employment opportunities and contributing significantly to the nation's economic fabric. The state of Odisha aligns with the national vision, undertaking initiatives contributing to the overarching goal of youth development and community engagement..The impact of these endeavors not only contributes to economic growth but also lays the groundwork for a socially conscious and globally competitive nation.

Evolutionary targeting for inclusive development

Many studies articulate a theoretical conceptual change—that is, a change from neo-classical economics and “Picking Winners” policy frameworks to a systemic-evolutionary targeting framework. Within such an intellectual context, this paper attempts to expand the evolutionary targeting framework to facilitate the process of inclusive industrial development. We present a unitary industrial development trajectory which is used as a narrative to articulate the evolutionary paths of Taiwan and Malaysia in making their respective sectoral changes (from informal to formal, and then to high technology sectors) endogenous. Building on both cases, we elucidate how the organization of subsistence farming contributes to development, and hence paves the way for new industrial takeoff. In this regard, the targeting programs that focus on the Schumpeterian segment are improved upon to offer support for (re)organization of the informal sector. This study, therefore, proposes a new analytical grid theorizing the current observations in inclusive development studies. It thus explicitly acknowledges the importance of transforming the informal sector to achieve inclusive development.

Common trends and drivers of CO2 emissions and employment: a decomposition analysis in the industrial sector of selected European Union countries

The countries of the European Union face the challenge of reversing the declining role of industry and achieving their targets for sustainable development, combining industrial growth with fewer environmental repercussions and more jobs. This paper uses a decomposition analysis in order to quantify the effect of the driving factors on two indicators of sustainable industrial development, CO2 emissions and employment, in five European Union countries during 2000–2011. The decomposition method applied is the Log Mean Divisia Index I, and the models developed comprise some common or closely related driving factors. The parallel investigation of the factors affecting the two indicators offers useful insights into relevant complementary and/or antithetical effects. The timeframe of the study is divided into two time periods, before and after the start of the economic crisis, 2000–2007 and 2007–2011, respectively. This time division enables the evaluation of the impacts of the economic crisis directly on the drivers, and indirectly on the two indicators. It was deduced that, in both time periods, the two main drivers of industrial CO2 emissions and employment were economic growth and resource intensity, which counterbalance each other. Structural changes appeared to have a rather marginal effect, even if the general tendency was the expansion of less energy-/labour-intensive sectors. Finally, changes in the fuel mix used in industry were beneficial to emissions reduction in all the examined countries, especially in the second time period. The results obtained show that the examined EU countries have not found a solid path towards sustainable and inclusive industrial development yet. The stronger economies seem to move faster to this direction, though.