Indicators Of Economic Development Research Articles

EUROPEAN INTEGRATION AS A CATALYST FOR THE DEVELOPMENT OF MEDICAL TOURISM IN UKRAINE IN THE POST-WAR PERIOD

This article explores the potential of medical tourism as a key component of Ukraine’s economic recovery strategy after the war, emphasizing the role of European integration in this context. Medical tourism, known for its ability to attract significant foreign investment and improve the economic indicators of the country's development, is seen as a strategic sector that can significantly contribute to the socio-economic recovery of Ukraine after a long conflict. The object of the research is the post-war reconstruction of the health care industry, where Ukraine faces the dual challenge of reviving its economy and enhancing the global competitiveness of its medical sector. Despite a well-established foundation in medical education and the affordability of medical services attractive to international patients, Ukraine encounters several barriers. The article identifies key problems, such as underdeveloped infrastructure, low level of certification of medical institutions, and ineffectiveness of regulations, which are currently inhibiting the full-scale development of medical tourism. The article focuses on the impact of European integration processes on the medical tourism sector. It asserts that closer alignment with European standards could lead to the modernization of medical services, enhancing quality and trust in Ukraine's medical tourism market. This integration promotes the adoption of best practices in medical service provision and management, ensuring that Ukrainian medical institutions can meet and exceed international patients' expectations. Various aspects of medical tourism are explored, from the development of medical services before the war, which predominantly attracted patients from Europe, to the dramatic consequences of the war, including infrastructure damage and professional brain drain. Legal reforms aimed at streamlining and improving the regulatory framework for medical tourism are discussed as critical to creating a conducive environment for the sector. The role of the strategic partnerships with European medical institutions is highlighted as a crucial factor. Such partnerships could lead to technology transfer, joint research, and educational opportunities, which not only improve service quality but also enhance the international image of Ukraine's medical tourism sector. Additionally, these collaborations can help to standardize medical procedures and protocols to match European norms, thereby increasing the safety and appeal of medical services offered in Ukraine. The article underscores the need for continued reforms, investment in modern medical technologies, and marketing strategies for the international promotion of Ukraine as a leading provider of medical tourism services. It notes that addressing outlined challenges and effectively leveraging European integration could enable Ukraine to tap into the growing global market for medical tourism, offering comprehensive, high-quality, and cost-effective medical solutions to international patients. Overall, the article provides a deep analysis of the catalytic role of European integration in advancing medical tourism in Ukraine, noting that with the right policies and international cooperation, Ukraine can significantly improve its economic landscape and health care standards in the post-war period.

REGRESSION ANALYSIS OF COST AND ECONOMIC RETURNS OF MAJOR CROPS IN SELECTED STATES OF INDIA FROM 2000-01 TO 2021-22

Indian agriculture had reached the stage of development and maturity much before the now advanced countries of the world embarked on the path of progress. The share of agriculture in national income is often taken as an indicator of economic development. This study analysed and compared the cost and returns of principal crops in five major producing states of India like, Andhra Pradesh, Gujarat, Karnataka, Maharashtra and TamilNadu from 2000-01 to 2021-22. Data on the important variables like, cost of cultivation, production and yield of major crops like Paddy, Wheat, Maize and cotton.The study based on secondary information comprises from Agricultural statistics and Directorate of Economics and Statistics. For analysis of econometric technique like Simple linear regression model and Semi-log linear model were used in this study. The major objectives of the study are, to estimate the regression for cost of cultivation, production and yield of principal crops in selected states in India from 2000-01 to 2021-22 and to study the yield rates of principal crops in selected states of India during the study period. The major findings were derived the study are, the yield per hectare of all food grains has increased by more than two times in 2001 to 2017. The net return of paddy was Rs.10, 870 per hectare and the return of Wheat was Rs. 8614. 32 per hectare in 2017.The study of cost and return is a major economic analysis because the estimation of product cost is useful to decision making process at crop level and the profitability of the farmers, it can help in planning of future production.

Impact of population aging and declining birth rates on household consumption structure: Evidence from China

The age structure of a population is a crucial indicator of a country's economic development. This study analyzes the impact of population aging and declining birth rates on the household consumption structure in urban and rural China. China, the largest country by population, is selected owing to its significance in population studies. Using a fixed effects model, our findings reveal that in China, a higher proportion of youth in the population positively affects residents’ spending on survival consumption while negatively affecting developmental consumption. Conversely, a higher proportion of older adults in the population negatively affects survival consumption while positively influencing developmental consumption.Through the research in this article, it is hoped that the results can provide some reference significance for the changes in population age structure and the development of resident consumption.

NEW PERSPECTIVES ON ECONOMIC DEVELOPMENT

In the first decades of the 21st century, in a period characterized by turbulent, liberalized economic environment, in a world marked by a strong demographic growth, depletion of natural resources, climate change and destruction of ecosystems, we are more concerned than ever about the issues related to economic growth and development. In the first part of the paper, we presented the result of an overview study, based on which we synthesized the dynamics of the determinants of economic growth, after which we carried out a comparative study of economic growth and development. The second part of this paper presents a review of those economic indicators that are considered to be the most relevant in measuring economic development. The conclusions of the paper converge on the idea that, despite controversies regarding the importance of GDP as an indicator of economic development, it continues to remain the most present and important reference indicator in economic statistics. However, in order to obtain an accurate and more complex image of the economic and social performance, it is recommended to use several indicators in combination with GDP.

Balancing Fund and Inclusive Economic Growth: East Java Provincial Study

One of the policies adopted by the government in development, especially in developing countries, is inclusive economic growth. This study examines how the effect of equalization funds as the main variables, as well as GDP per capita and open unemployment as control variables, on the Inclusive Economic Development Index (IDEI) as a proxy for inclusive economic growth. This research was conducted in 38 regencies/cities in East Java, in the period 2014-2020, using the PVECM Model as an analysis tool. In addition, this research also provides strategies and policy formulations in an effort to increase inclusive economic growth. The results show that in the long-term DAU and GDP per capita have a significant positive effect on inclusive development. Meanwhile, in the short term, DAK and GDP per capita have a positive insignificant effect. It can be concluded that the balancing fund supports inclusive economic development in East Java. Keywords: intergovernmental transfer funds, inclusive economic development index, inclusive economic growth

Navigating Nepal’s development trajectory: The road to graduation from the LDC status and beyond

Nepal’s imminent graduation from the Least Developed Country (LDC) status marks a significant milestone in its development trajectory, highlighting substantial progress in economic, social, and human development indicators. This transition necessitates a strategic approach to capitalize on newfound opportunities while mitigating associated challenges. Drawing on insights from socio-economic indicators and economic evolution data, this paper assesses Nepal’s readiness for graduation and outlines key priorities for its post-LDC journey. Emphasizing sustainable development aligned with the Sustainable Development Goals (SDGs), the paper advocates for in-country resource mobilization, system strengthening with a localization focus, human capital development, market access facilitation, resilience building, and promotion of foreign direct investment. By leveraging international support, prioritizing strategic initiatives, and fostering conducive environments for growth and investment, Nepal can navigate the transition effectively and pave the way for inclusive, resilient, and sustainable development.

Realities of economic growth and development in the post-soviet countries

The article discusses issues of high-quality economic growth and development that create the foundations for sustainability and stability. An analysis of factors influencing changes in the macroeconomic situation for 2015–2022/2023 is presented. The current situation in the countries of the former USSR is considered. The main reasons limiting economic growth and development are identified, and mechanisms for overcoming them are revealed. The need to pay more attention to qualitative indicators of economic growth and development, which create the foundations of sustainability, is substantiated. In the current conditions, the qualitative component of economic growth and development is becoming increasingly important due to the increasing influence of global problems, risks, uncertainty, sanctions, and local wars. The pandemic had a certain impact on the country's economic growth, which revealed the need for sustainable financing of public investment to achieve a certain level of economic growth and development, tax revenues. The pandemic has contributed to increasing the importance of innovative projects. The adopted programs, concepts and road maps contribute to the formation of a competitive innovative industrial complex. All this, in turn, will create the basis for a qualitative improvement of the country’s existing production potential and contribute to the transition to a predominantly innovative type of development. It is advisable to realistically reflect the current situation, not to turn a blind eye to the real positive changes taking place in the country, which contribute not only to its economic, but, above all, to its political strengthening of its position in the world. The essence of economic planning is not to give a project, but to determine a direction that is adjusted depending on the situation. Economics must justify economic activity and the following chain can be shown schematically: idea – ​economic justification – ​real implementation.

Влияние санкций на мирохозяйственные связи России

The work assesses the impact of sanctions on world economic relations based on changes in the relationships between the most important indicators of economic development of countries — economic growth rates. An assessment of world economic relations, the degree of closeness of economic interaction between countries in the work is given by determining the correlations of economic growth rates in countries for the periods before and after the introduction of antiRussian sanctions — for the period 2005–2012 and for the period 2014–2022. The results obtained from assessing the closeness of world economic ties indicate that anti-Russian sanctions introduced at the initiative of the United States have had a significant and very complex impact on international economic relations. Firstly, despite the anti-Russian nature of the sanctions, which were initiated by the United States, they practically did not disrupt Russia’s ties with the United States. This suggests that the sanctions were introduced with the expectation that they would strike not only the Russian economy, but also the economies of the most developed partners of the United States, such as the EU countries, Great Britain, and Japan. This in turn can serve as a stimulus for the development of the US economy. Secondly, sanctions have changed the structure of Russia’s world economic ties and increased the closeness of ties between the Russian economy and China and Singapore. Morocco, preserved Russia’s ties with Belarus, India, and Indonesia. Anti-Russian sanctions, on the one hand, limited Russia’s world economic ties; on the other hand, they opened up opportunities for the development of economic ties with new large and rapidly developing countries.

Impact of Digital Industrialization on High-quality Economic Development

Against the background of rapid development of global information technology, digital industrialization has become an important path to promote high-quality economic development. Based on the panel data of 30 provinces in China from 2012 to 2020, this paper constructs the digital industrialization index and the index of high-quality economic development, and adopts the two-way fixed effect model to study the impact of digital industrialization on high-quality economic development and sort out the impact mechanism. The results show that digital industrialization not only directly promotes the high-quality development of regional economy, but also further promotes the high-quality development of economy through the indirect effect of industrial upgrading. The improvement of human capital level and the increase of financial investment in research significantly enhance the promotion effect of digital industrialization on high-quality economic development. The heterogeneity results indicate that the enhancement of economic quality development by digital industrialization is only significant in the northern region, the region with higher economic level and higher investment in education.

Spatial Mismatch of Tourism Resources and Tourism Economy in Guangxi, China

This study analyzed the spatial mismatch between tourism resources abundance and tourism economy development level in Guangxi, China. tourism resources abundance index, tourism economy development index, gravity model, and tourism spatial mismatch index were used. The results show that: (1) The spatial mismatch between tourism resources and tourism economy was obvious in Guangxi. The gravity center of tourism resources abundance was northeast-southwest, and the gravity center of tourism economy was southwest-northeast-southwest. (2) The degree of tourism spatial mismatch was different among the cities. The tourism spatial mismatch indexes in 3 cities had been consistently greater than 0, and they were always less than 0 in 4 cities. The other 7 cities were in a positive and negative alternating state. (3) The level of tourism spatial mismatch would change. There were a total of 6 cities that had basically remained in their original state, while the other cities had undergone certain changes.

Measurement of regional green finance development and its coordination with economic development: a study on the Yangtze River Delta region of China

The green transformation of industry and sustainable economic development both require considerable investment. In this regard, green finance that is compatible with economic development can help cope with the massive demand for capital. Taken China’s Yangtze River Delta (YRD) as an example, this study is to measure the coordination degree between green finance and economic development. First, the concept, content and scope of green finance is defined based on the new financial regulation mechanism. Second, a green finance measurement index is built to calculate the green finance index for 30 Chinese provinces by the CFA test. Third, based on the economic structure index, an economic development index is built. Testing the rationality of green financial index and the economic development index, this paper finally measures the degree of coordination between green finance and economic development in the YRD. The results reveal that, first, green finance is a financial instrument that integrates financial industry development, environmental improvement, and economic growth. The measurement of the green financial development index includes the sum of regional green credit, green investment, green securities, and green insurance. Second, after years' development, the comprehensive score of YRD’s coupling coordination degree exceeds 0.8 in 2020, which shows a high level of coordinated development between green finance and economic construction. However, there is a 2-year timing effect between the economic development and green finance index increase, which reveals that green finance development in the YRD requires further policy guidance and support. This study’s findings can provide a theoretical reference and case support for the further development of green finance and related policies in China.

Banking reform trends and their relationship to indicators of economic development in Iraq for the period (2004 - 2021)

Banking reform trends and their relationship to indicators of economic development in Iraq for the period (2004 - 2021)

A Study on Different Indicators of Economic Development

ABSTACT: Economic development is most important concept for measuring improvement of any country in the competitive world. But it is not easy to define economic development in a precise manner because different criteria have been used for different country. But which criteria is good for measuring economic development is debatable issue in economics. Economic development is a process of change over a long period of time. Thought there are several criteria used to measure the economic development, but no one criteria provide a satisfactory and universally acceptable index of economic development. According to R. G. Lipsey there are many possible measures of a country’s degree of development like national income, per capita income, saving per head, amount of social capital and the percentage of resource unexploited. But more commonly used criteria of economic development are increase in national income, PCI, standard of living and economic welfare etc. so some important economic development criteria are discus here in this paper which is used by all over the world. Keyword = Growth, development, PCI (per capita income), HDI (human development index), PQLI (physical quality life index) NI= national income

Digital economy and the urban–rural income gap: Impact, mechanisms, and spatial heterogeneity

This study examines how digital economy development in China impacts the urban–rural income gap. We construct a digital economy development index using panel data from 30 provinces and cities in China from 2013 to 2021. By combining a spatially varying coefficient model with a chain–mediated effect model, we quantify the impact of digital economy on the urban–rural income gap and examine its spatial heterogeneity. The results show that the digital economy influences the urban–rural income gap through four different pathways, each of which exhibits significant spatial variation. As these paths offset each other, the digital economy development in Beijing, Inner Mongolia, Shanxi, Henan, Hubei, Jiangxi, Jiangsu, Guangdong, and other provinces has widened the urban–rural income gap, resulting in a digital divide effect. However, in most areas of China's northeast, east coast, and western regions, the digital economy development has narrowed the income gap, resulting in a digital dividend effect. This study investigates the relevant debates among scholars and provides valuable insights and foundations for strategic decision making to reduce the urban–rural income gap in various regions.

The role of cluster approach in the financial support for innovative development

Subject. The article addresses the system of financial support for innovative development based on the cluster approach. Objectives. The purpose is to develop methodological approaches to assessing the effectiveness of financial support for innovative development at the expense of public funds, using the cluster and correlation and regression analysis. Methods. The study applies the cluster and correlation and regression analysis, methods of horizontal and vertical analysis, method of grouping, and others. Results. I investigated the role and operating results of innovation clusters, the government programme aimed at innovative development, assessed the impact of program financing on indicators of economic and innovative development and the expediency of the cluster approach. I identified three clusters based on such factors as the proportion of organizations that carried out technological innovations and the proportion of innovative goods, works, and services in the total volume of shipped goods, performed works, and rendered services. I obtained a two-factor model of relationship between GRP and the volume of innovative products, and the number of researchers with an academic degree. Conclusions. The paper proved that using the cluster approach enables to approach positive results of State programmes and national projects implementation.

Impact of industrial intelligence on income inequality of urban residents in China

We construct a theoretical model based on the task-based approach to study how industrial intelligence affects the residents’ income gap through employment substitution and creation effect on different skilled labor, compensation effect on industries and industrial structure upgrading effect on industrial sectors. Subsequently, we present the benchmark regression analysis elucidating the impact of industrial intelligence on income inequality among urban residents in China. We employ a comprehensive set of control variables including economic development indicators, financial metrics, trade openness measures, government intervention variables, and other relevant factors to ensure the robustness of our findings. Furthermore, we explore heterogeneous effects to uncover how industrial intelligence affects income inequality differently across various demographic groups and regions. Based on our empirical analysis, we discover several key findings. Firstly, the advancement of industrial intelligence has notably exacerbated the income disparity among urban residents in China. This conclusion remains true even after conducting robustness test and endogenous treatment. Secondly, the impact of industrial intelligence on income inequality operates through distinct mechanisms. While it widens the income gap through employment substitution and creation effect as well as industrial upgrading effects, it also narrows the gap via the compensation effect. Lastly, industrial intelligence disproportionately affects certain demographic groups and regions. Specifically, it exacerbates income inequality among middle-aged and elderly individuals and in areas with weaker employment protection measures in China. The insights derived from our research can inform policymakers about striking a balance between economic growth and the well-being of the population, ultimately guiding the formulation of effective and inclusive policies in response to technological advancements.

Analysis of the relationship between economic development indicators and carbon dioxide emissions in light of the environmental Kuznets curve hypotheses: an econometric study of Algeria from 1980 to 2022

This study aimed to understand the relationship between Economic Development indicators and carbon dioxide emissions in Algeria during the period 1980-2022. It utilized annual data on CO2 emissions as a dependent variable, and GDP growth, population size, energy consumption, and foreign direct investment as independent variables. This was in order to test the hypotheses of the Environmental Kuznets Curve (EKC). The Autoregressive Distributed Lag (ARDL) model was employed for this analysis. The study ultimately found no long-term relationship between CO2 emissions and GDP, contradicting the hypotheses of the Environmental Kuznets Curve. However, there was a significant positive long-term relationship between CO2 emissions and both population size and energy consumption. Meanwhile, no significant long-term relationship was found between CO2 emissions and foreign direct investment in Algeria.

Exploring the Impact of Regional Cooperation on Regional Economic and Social Development: An Empirical Study Based on the Belt and Road Initiative

Regional cooperation plays a pivotal role in driving both regional and global economic growth, and the Belt and Road Initiative (BRI) stands as a significant catalyst for the economic and social development of the countries and regions along its routes. Based on economic and social data spanning from 2011 to 2019 across 40 countries, this research employs the Analytic Hierarchy Process (AHP) and Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) evaluation method to construct a Regional Economic and Social Development Index. Subsequently, employing a multi-period difference-in-differences model, the study meticulously examines the positive impact of the BRI on the development trajectory of relevant countries. Heterogeneity analysis reveals that the influence of the BRI is notably pronounced in developing nations, China's neighboring countries, and those along the Maritime Silk Road. Our research contributes significantly to elucidating the effects of regional cooperation on regional economic development, thus reinforcing the trajectory of economic globalization. Furthermore, we offer insightful policy recommendations for the future evolution of the Belt and Road Initiative.

Investigating the Effect of Property Investment and Inflation on Economic Growth in Indonesia

Sustained economic growth is essential to sustainable development and overall societal prosperity. This phenomenon denotes the continuous enhancement of a nation's economic conditions over time, characterised by elevated levels of economic activity compared to preceding periods. Economic growth is typically correlated with improved societal welfare, which is a key indicator of successful economic development. However, it is imperative to consider additional factors such as income distribution to comprehensively assess the impact of growth on well-being. Establishing economic growth is fundamental to sustainable economic development and prosperity. The primary objective of this study is to investigate the short- and long-run effects of Property Investment and Inflation on economic growth in Indonesia and examine the equilibrium relationship between Property Investment and Inflation on economic growth from the short run to the long run. To achieve this objective, this study employs the autoregressive distributed lag (ARDL) Panel Model and a cointegration test to establish short- and long-run relationships. The results indicate a short-to long-run equilibrium among the variables. An additional finding is that property investment has a positive effect on economic growth in the long run but no effect in the short run. The inflation variable demonstrates a positive effect on economic growth in the long run but no effect in the short run.

Research on the Impact of Digital Finance on the High-Quality Development of Regional Economy: An Empirical Analysis Based on Provincial Panel Data

As a product of the combination of digital technology and traditional finance, the vigorous development of digital finance in the context of the digital economy era will certainly have a great impact on the high-quality development of the economy. Based on the panel data of 31 provinces from 2011 to 2020, this paper adopts the entropy value method to determine the economic development index of the region, and applies the two-way fixed effect model to explore the impact of the development of digital finance on the regional economic development. It is found that the rapid development of digital finance has a positive role in promoting the economic development of the region and changes with the level of openness to the outside world as well as the level of human capital, and that the innovation effect update of the region plays an intermediary role as an intermediary variable in the impact of digital finance on the economic development of the region. There is significant heterogeneity in the economic development of digital finance on different regions, with the highest in the east and the lowest in the center. Reasonable suggestions are made for the better development of the economy of each region, thus promoting the high-quality development of the economy of each region.