Developed Economies Research Articles

Achieving Sustainable Development: Balancing Carbon Dioxide Emissions Reduction and Poverty Alleviation in Less Developed Countries

Carbon dioxide emissions (CO₂) reduction and poverty have always been conflicting subjects regarding national policy implementation, particularly in less developed countries (LDCs). Based on energy consumption as a driving mechanism, this study investigates whether reducing CO₂ aggravates poverty in LDCs. To achieve this aim we analyze a 30-year panel data of 15 LDCs and deploy fixed-effects regression models. We used two-stage least square (2SLS) regressions to address endogeneity concerns. Our results suggest that (CO₂) emission has a negative relationship with poverty, which means reducing CO₂ emissions increases poverty in LDCs. Our results provide important implications for policymakers, showing that a green structural transformation implementation that highlights the balance between environmental protection and economic development would be recommended for LDCs.

Why hide? Africa’s unreported debt to China

AbstractHidden debt is endemic throughout the sovereign credit market and poses a serious threat to global financial stability. Yet, little is known about why governments conceal their liabilities from creditors. I argue that governments intentionally hide debts from international financial institutions (IFIs) to maximize their ability to borrow while avoiding punishment for rising debt burdens. IFIs frequently penalize governments in low-income countries for borrowing beyond their means. By hiding some debt, governments are able to continue borrowing without being disciplined. I test this using recently released data that reveals half of the Chinese loans in Sub-Saharan Africa are missing from sovereign debt records. I find that borrower governments hide loans to avoid violating World Bank debt sustainability thresholds. However, governments hide less debt while under IMF scrutiny so as to reduce the risk that they will be discovered and punished. These findings offer evidence that borrower governments use hidden debt as a strategic tool to pursue fiscal goals. Further, this work reveals the unintended consequences of IFI intervention in less-developed countries, as efforts to ensure fiscal stability increase governments’ incentives to hide debt.

Costs and Revenues Balance: The Case of Municipal Delegated Competences in Slovakia

Abstract Local authorities’ financial resources should be commensurate with the competences provided for by the law. However, in most countries, representatives of local self-governments claim that their total revenues are insufficient to deliver allocated tasks at a standard scale and level of quality. Such statements are somewhat problematic, especially in less-developed countries, where cost-center accounting is not used and service standards are not defined. This paper analyzes the relationship between the costs of delegated competences and the resources provided to cover these costs in Slovakia. We found that Slovak municipalities (with some exceptions) do not know the exact costs of delegated competences, and that the state does not cover the total costs of delegated competences, which contradicts the Slovak constitution. Our short comparison in the discussion shows that the Czech situation is very similar, suggesting that the problem might be common for all post-Soviet countries.

Costs and Revenues Balance: The Case of Municipal Delegated Competences in Slovakia

Abstract Local authorities’ financial resources should be commensurate with the competences provided for by the law. However, in most countries, representatives of local self-governments claim that their total revenues are insufficient to deliver allocated tasks at a standard scale and level of quality. Such statements are somewhat problematic, especially in less-developed countries, where cost-center accounting is not used and service standards are not defined. This paper analyzes the relationship between the costs of delegated competences and the resources provided to cover these costs in Slovakia. We found that Slovak municipalities (with some exceptions) do not know the exact costs of delegated competences, and that the state does not cover the total costs of delegated competences, which contradicts the Slovak constitution. Our short comparison in the discussion shows that the Czech situation is very similar, suggesting that the problem might be common for all post-Soviet countries.

Effects of Institutional Governance on Financial Performance of Commercial Banks in Kenya

Although the banking industry is a very important vehicle for spurring economic development and especially in least developed economies, the Kenyan commercial banks are facing financial performance constraints, leading to collapse and liquidation of numerous commercial banks. Accordingly, borrowers, depositors and shareholders are suffering enormous financial losses; which have dramatic implications for the economy of the country. The crisis in this very crucial industry has associated with poor institutional governance. Although various studies have been undertaken on institutional governance and financial performance, majority of the studies have yielded inconsistent result while others have contextual, conceptual and methodological gaps. So, this study analysed the effect of institutional governance on financial performance of Kenyan commercial banks. It adopted descriptive and diagnostic research designs to outline the characteristics of existing phenomenon. The target population was the 43 commercial banks licensed and operating in Kenya. Since the sample size was easily accessible and manageable the study used census. Data was collected using primary sources using a questionnaire, Data was analysed using quantitative analysis approach to produce descriptive statistics and thereafter multiple regressions to estimate a model. The study found that at 5% significance, level board size, ownership concentration, audit structure and, board composition, positively and significantly affects financial performance of licensed Kenyan Commercial Banks. The study recommends that Kenyan Commercial Banks should review their board size policies, largely focus on having audit committee, and strengthen their board composition guidelines to ensure board diversity comprises.

Agricultural emission reduction targets at country and global levels: a bottom-up analysis

ABSTRACT Few countries have declared sector-specific emission reduction targets in agriculture, making it difficult to construct and assess realistic climate mitigation scenarios for analytical and policymaking purposes. We aim to fill this analytical gap by using a set of cluster analyses to gauge likely ambitions levels in reducing agricultural emission at country-level, taking into consideration important country-level characteristics and referencing the ‘common but differentiated responsibilities’ principle. We then use the results from the cluster analysis together with information from submitted NDCs and other considerations to design formulas for assigning numerical reduction targets to individual countries. Our main results indicate a global agricultural emission level in 2030 exceeding the limit for the 1.5°C temperature target, but representing substantially lower emissions than the no-policy scenario. At individual country-level, the scenarios consist of large emission reductions in Northern and Western Europe, followed by the USA and other developed economies, and emission increases in many developing countries. To facilitate the construction of alternative scenarios, our method also contains parameters for flexibility to scale up or down ambition levels at both country and global levels, making the method useful for other researchers to develop alternative scenarios.

Protectionism's impact on embodied energy flows among 43 countries: An assessment based on input-output structural decomposition model

Free trade has made developed economies transfer a great deal of energy-intensive industries to developing economies, which induces more energy consumption in developing economies. The global spread of COVID-19 has led to trade protectionism that directly undermine the international free trade system. This paper is aimed to explore how trade protectionist measures affect global embodied energy flows, taking the case for 43 typical economies. Firstly, we combine the multi-regional input-output analysis and scenario analysis to construct an accounting framework of embodied energy consumption under free trade and restricted trade scenarios. The impact of trade protection on 43 economies' energy flows is discussed from the perspective of industrial sectors and disaggregated value chain links. Secondly, the role of technology, structure and scale factors in the protection's impact on embodied energy consumption is discussed based on structural decomposition analysis. The results indicate that under the scenario of trade-free, global energy consumption is 3880.91 million tons of oil equivalent. Under the scenario of trade-restricted, global energy consumption is 4435.56 million tons of oil equivalent, and global trade protection measures would increase global energy consumption by 554.65 million tons of oil equivalent. Trade of final products, trade of last-stage intermediate products and trade of other-stage intermediate products of the value chain contributed 42.7%, 40.5% and 16.8%, respectively, with the manufacturing industry facing the biggest impact. For emerging developing economies, such as China and Russia, their domestic energy consumption would decrease by 193.52 and 163.74 million tons of oil equivalent due to export tightening, respectively, while for developed economies, trade protection would result in an increase of 343.31 million tons of oil equivalent in EU countries. In addition, structural change and scale growth are the main factors that promote energy consumption growth under the trade restriction scenario, making it increase by 66% and 21% respectively.

Systemic Dendrimer-Peptide Therapies for Wet Age-Related Macular Degeneration.

Wet age-related macular degeneration (AMD) is an end-stage event in a complex pathogenesis of macular degeneration, involving the abnormal growth of blood vessels at the retinal pigment epithelium driven by vascular endothelial growth factor (VEGF). Current therapies seek to interrupt VEGF signaling to halt the progress of neovascularization, but a significant patient population is not responsive. New treatment modalities such as integrin-binding peptides (risuteganib/Luminate/ALG-1001) are being explored to address this clinical need but these treatments necessitate the use of intravitreal injections (IVT), which carries risks of complications and restricts its availability in less-developed countries. Successful systemic delivery of peptide-based therapeutics must overcome obstacles such as degradation by proteinases in circulation and off-target binding. In this work, we present a novel dendrimer-integrin-binding peptide (D-ALG) synthesized with a noncleavable, "clickable" linker. In vitro, D-ALG protected the peptide payload from enzymatic degradation for up to 1.5 h (~90% of the compound remained intact) in a high concentration of proteinase (2 mg/mL) whereas ~90% of free ALG-1001 was degraded in the same period. Further, dendrimer conjugation preserved the antiangiogenic activity of ALG-1001 in vitro with significant reductions in endothelial vessel network formation compared to untreated controls. In vivo, direct intravitreal injections of ALG-1001 and D-ALG produced reductions in the CNV lesion area but in systemically dosed animals, only D-ALG produced significant reductions of CNV lesion area at 14 days. Imaging data suggested that the difference in efficacy may be due to more D-ALG remaining in the target area than ALG-1001 after administration. The results presented here offer a clinically relevant route for peptide therapeutics by addressing the major obstacles that these therapies face in delivery.

Environmental pollution and life expectancy in Somalia: do renewable energy, urbanization, and economic growth matter?

Ensuring good quality of health and longevity became a topical for policymakers and academicians. Various determinants, including socio-economic factors, have been discussed in the literature. Nevertheless, the empirical studies on this issue are scanty in least-developed countries like Somalia where the health indicators are poor. In this regard, this undertaking examines the impacts of renewable energy, urbanization, environmental pollution, and economic growth on life expectancy in Somalia for the period straddling 1990-2016. The study uses a novelty machine learning method - Kernel regularized least square (KRLS)method. The empirical results indicated that renewable energy, economic growth, and urbanization are statistically significant; whereas, environmental pollution is statistically insignificant. Renewable energy, economic growth, and urbanization exert positive effects on life expectancy in Somalia and have increasing marginal effects. Besides, bidirectional causality between renewable energy and life expectancy, life expectancy and economic growth, and environmental pollution and life expectancy are established. Moreover, unidirectional causality from urbanization to life expectancy is also observed. The study suggests that a budgetary revision be made to sort out health-related concerns resulting from a lack of healthcare services and poor sanitation for improving the longevity of the people. Additionally, investments in clean energy are necessary as will improve health outcomes without compromising economic growth and life expectancy.

Variation in the Ecological Carrying Capacity and Its Driving Factors of the Five Lake Basins in Central Yunnan Plateau, China

The Five Lakes Basin of Central Yunnan Plateau (FLBOCYP) is located in the core area of Yunnan Province and has a developed economy, but the ecological and environmental problems in the basin are serious and the sustainable economic development is threatened. The analysis of ecological carrying capacity change and the study of influencing factors in the basin is conducive to protecting the ecology of the basin and maintaining the sustainable development of the social economy. Ecological carrying capacity is an important indicator for the quantitative assessment of regional sustainable development, and the assessment of regional ecological carrying capacity based on grid scale can more accurately and vividly reflect the regional sustainable status and provide reference for regional coordinated development. With the support of GIS technology, based on the unique ecosystem characteristics of the river basin itself, the research method of quantifying the ecological carrying capacity from the three perspectives of ecological function elasticity, resource and environmental capacity and socio-economic coordination was carried out, and a relatively complete comprehensive evaluation index system of ecological carrying capacity was constructed. The ecological carrying capacity of the five major lake basins of Qilu Lake and Yangzonghai from 2000 to 2018 was evaluated, and the temporal and spatial changes and driving mechanisms of ecological carrying capacity were analyzed. The results show that: (1) The FLBOCYP has an overall moderate ecological carrying capacity (average of ~0.5). The temporal trend in ecological carrying capacity was an initial rise followed by a fall, but there was an overall increasing trend at a rate of 0.019. (2) Areas with a strong ecological carrying capacity were mainly distributed in the mountainous and semi-mountainous regions outside of the lake area, whereas areas of weaker ecological carrying capacity were mainly distributed in the plain area around the lake. The ecological carrying capacity gradually increased from the area around the lake to the periphery. (3) At a basin scale, the ecological carrying capacities of the Dian, Fuxian, and Yangzong lake basins were relatively high, whereas those of the Xingyun and Qilu lake basins were relatively low. The greatest increase in ecological carrying capacity of Fuxian Lake has occurred since 2000. (4) The spatial pattern of ecological carrying capacity showed clear agglomeration. This agglomeration has been continuously enhanced but remained relatively stable over the past 19 years. The main agglomeration modes were identified as “high-high” (HH), “low-low” (LL), and “not obvious agglomeration”. (5) Among the many driving factors, ecological elasticity, biological abundance index, proportion of forest land, and degree of human disturbance showed the greatest explanatory power for spatial differentiation of ecological carrying capacity, and the interaction of any two factors affected the spatial analysis of ecological carrying capacity even more. In summary, the overall ecological environment of the FLBOCYP has experienced significant improvement since 2000, whereas that of the plain area has deteriorated more seriously in recent years.

Green innovation and resource efficiency to meet net-zero emission

This research delves into the interplay among green innovation, resource efficiency, and the pursuit of net-zero emissions objectives within 22 developed economies spanning the years 2000–2020, utilizing the ARDL technique. Improving the efficiency of fossil fuel consumption has an impact on achieving net-zero emissions targets, with a 1% enhancement resulting in an approximate rise of 0.14%–0.54% in the net-zero emissions index across various developed economies. The study underscores the influential role of the green economy innovation index, showcasing that even a minor 1% increase translates to tangible elevations of about 0.25%–0.39% in the net-zero emissions index, emphasizing its substantial environmental effects. Embracing green innovation and technologies is crucial for driving developed economies towards sustainability. A comprehensive strategy that encompasses enhancing fossil fuel efficiency and promoting green innovation can advance net-zero emissions, encouraging regional agreements on green economies, and fostering a robust green financing market.

The threshold effect of export sophistication on natural resources-trade diversification nexus

This study is an investigation into the influence of export sophistication on the complex nonlinear relationship between natural resources and trade diversification. It aims to explore if export sophistication’s threshold value affects the relationship between natural resources and trade diversification. A panel data of 106 nations was collected for the period of 2000–2018. This study develops its dynamic panel threshold model estimated with the difference GMM model. Our results reveal that natural resources and trade diversification have an inverse U-shaped relationship which is mediated by export sophistication. It implies that abundant natural resources, which give access to various markets, might assist trade diversification in nations with low export sophistication. However, in highly developed economies, resource wealth may prevent trade diversification since horizontal specialization patterns result in high prices, restricting market accessibility. The results of the study also explain the complex interactions between resources abundance, export sophistication, and trade diversification and offer critical insights for effective management of natural resources in emerging and industrialized economies. The study confirms the “resource curse” and the Dutch Disease effect, which demonstrates the means to deal with economic issues through the export sophistication. The research makes useful contribution to the existing literature on economic development and resource management by adding the dynamic threshold model and enhancing the robustness to the existing understanding on the issue.

Wastewater Treatment Using Wood Ash and Cement as Chemical Coagulant.

Water is essential for daily activities and maintaining human well-being. However, in many less-developed countries, including Ethiopia, the lack of a well-developed wastewater treatment system leads to contaminated surface water. This poses significant risks to human health. To address this problem, wastewater can be treated using locally available materials such as wood ash and cement as chemical coagulants. The objective of this study was to treat wastewater using these materials. The study involved analyzing a 20-liter sample of wastewater from the Awetu River in Jimma City, Ethiopia. The materials used for the treatment included wood ash, cement, and lemon. Various doses of cement and wood ash were prepared and added to the wastewater. The results showed that 5 g was the optimum dosage for effectively treating the wastewater. The treated water at the optimum dosage exhibited significant improvements in turbidity, total dissolved solids, conductivity, and color, meeting drinking water criteria. Overall, the study concludes that locally available materials such as wood ash and cement can be successfully utilized as chemical coagulants for wastewater treatment. This approach offers a viable solution for improving water quality and reducing the risk of waterborne diseases.

Corporate governance and performance of state-owned enterprises in a least developed economy

Purpose: The main objective of the study was to investigate how corporate governance affects the performance of state-owned enterprises (SOEs) in a least developed economy.Design/methodology/approach: Both primary and secondary data from nine state-owned companies that operated between 2001 and 2016 were analysed in the study. The investigation used a quantitative methodology. Fixed effects, random effects and generalised method of moments (GMM) estimations were used to conduct regression analysis.Findings/results: The findings show that corporate governance characteristics affect SOE performance in a least developed economy. The performance of SOEs is influenced favourably by board structures, director tenure, reduced government ownership and leverage. Conversely, increased state ownership leads to subpar performance. The study also reveals that the presence of civil servants and directors with political affiliations in government-controlled companies has a negative effect on enterprise value.Practical implications: The use of multiple case studies to investigate SOEs in their natural setting has given some insights for both professional managers and policymakers interested in developing corporate governance frameworks to improve SOEs value in least developed economies, particularly in sub-Saharan Africa, even though the results are limited in terms of statistical generalisation because the study was based on a single country.Originality/value: The study fills a gap in the literature about how SOE performance is affected by corporate governance in least developed nations, where such research is underdeveloped.

Global value chains and energy-related sustainable practices. Evidence from Enterprise Survey data

Participation in global value chains (GVCs) can affect the deployment of clean energy technologies and influence firm-level energy management. However, the sign of this influence is debated, especially for less developed economies, since GVCs can favor the absorption of more advanced technologies and the adoption of greener energy practices, but on the other hand they can help export polluting productions from countries with strict environmental regulations to weakly regulated developing countries. Drawing on Enterprise Surveys conducted in 2018–2020 on a large cross-section of firms operating in different industries and countries, and applying regression analyses and propensity score matching, this is the first firm-level study aiming to shed light on the relationship between firm participation in GVCs and the adoption of energy-related sustainable practices. In addition, the analysis allows for a heterogeneous impact of GVCs, conditional on firms' characteristics and external conditions, such as institutional quality. Overall, we find that participation in GVCs is positively associated with firm propensity to adopt green energy practices. For smaller and younger firms, operating in poorer institutional contexts, and/or less endowed in terms of human capital or financial resources, being engaged in GVCs has milder effects on the adoption of greener practices. By contrast, manufacturing companies located in high-income countries are those showing the strongest impact of GVCs on energy management.

The Moderating Role of Technological Innovation on Environment, Social, and Governance (ESG) Performance and Firm Value: Evidence from Developing and Least-Developed Countries

Recently, there has been growing recognition of the significance of environmental, social, and governance (ESG) factors in assessing a company’s performance and worth. Previous research has failed to take into account the significant impact of technological innovation in their empirical investigations. This study fills the gap by investigating the moderating impact of technological innovation on ESG performance and company value in developing and least-developed countries. The study utilized secondary data from 78 pharmaceutical companies from 2009 to 2022. For the investigation, we used the pooled mean group (PMG) and generalized methods of moments (GMM) estimators. The findings reveal that environmental and social performance influence firms’ value; however, governance performance does not influence firms’ value. Additionally, technological innovation acts as a catalyst, strengthening the favorable influence of ESG performance on firm value. The findings affirm the need to incorporate technological innovation, as it enables pharmaceutical firms to implement more efficient and sustainable practices.

Digital wellbeing – a review of the JISC guidance from the UK and Vietnam

PurposeThe aim of this paper is to contribute to the discussion of wellbeing within the university education system by outlining the key issues and benefits and recognising future research on digital well-being for students. The JISC Digital wellbeing paper highlights the many positive and negative impacts associated with digital wellbeing. This paper explores how some of these features have been considered within institutions within the UK and Vietnam and highlights the emerging research in one Vietnamese institution in relation to student wellbeing, where digital wellbeing was identified as a key concern.Design/methodology/approachThis is a technical review article which summarises key guidance for organisational digital wellbeing and then reflects on the application in the UK (a developed economy) and in Vietnam (one of the fastest growing economies). This is the first time a review has been conducted from the perspective of different countries. There are two aspects to digital wellbeing, individual and the social or organisational perspectives.FindingsThe JISC Digital wellbeing paper highlights the many positive and negative impacts associated with digital wellbeing. This paper explores how some of these features have been considered within institutions within the UK and Vietnam and highlights the emerging research in one Vietnamese institution in relation to student wellbeing, where digital wellbeing was identified as a key concern. The context of digital wellbeing within higher education is then discussed drawing similarities between the UK and Vietnamese student experiences whilst acknowledging the limitations of current research within the field.Originality/valueMany institutions have seen a rise in the number of wellbeing challenges, and there are few examples of specific initiatives aimed at addressing digital wellbeing challenges for their stakeholders. Existing research on students' wellbeing is predominately focused on undergraduate students and does not differentiate between undergraduate and postgraduate students, nor between masters, doctoral and professional level students and does not explore the impact of digital wellbeing discretely; this is an area which would benefit from future research.

TÜRKİYE'NİN İNSANİ YARDIMI: TİKA'NIN FAALİYETLERİ VE INSTAGRAM'DAKİ GÖRÜNÜRLÜĞÜ ÜZERİNE BİR ANALİZ

Donor countries which help to combat global poverty and provide lifesaving assistance in times of crisis provide support to developing and least-developed countries in the form of money, resources, and technical expertise. Their support can help those countries to build their infrastructure, improve education, healthcare, and access to safe drinking water and sanitation, create jobs and economic opportunities and respond to global challenges, such as climate change and disease pandemics. Foreign aid also helps to foster greater political stability, which is important for peace and security. This study focuses on Turkish humanitarian assistance activities in many countries performed by the Turkish Cooperation and Coordination Agency [TİKA] in line with the Sustainable Development Goals [SDGs], which the members of the United Nations [UN] have adopted. According to the findings of the content analysis of the Turkish Development Assistant Report 2020, TİKA conducts activities in eight categories which are based on 12 SDGs; and web content analysis has been applied to analyse whether those activities have been implemented on TİKA’s Instagram page to gain visibility and interaction with users. 621 activities in those categories have acquired 301535 likes on Instagram, 1192 comments out of 1455 have been positively reacted to by users while 43 have reacted negatively. 24 users asked questions, and TİKA replied to only 3 of them.

Effect of the Duration of Membership in the World Trade Organization on Trademark Applications

This article has examined the effect of the duration of membership in the World Trade Organization (WTO) on the submission of trademarks by countries’ residents. The analysis used an unbalanced sample of 124 countries (including developed and developing countries) and, primarily, the binominal regression approach supplemented by the generalized method of moments estimator, which was utilized for the robustness check. Results have shown that the effect of the duration of WTO membership on trademarks works through the channel of trade costs. This effect is positive for less developed economies and negative for relatively advanced economies. These findings reflect the fact that as countries spend more time as WTO members, they experience a higher submission of patents in relation to trademarks, especially if they enjoy an improvement in their real per capita income (and export complex products). Furthermore, countries that receive higher Aid for Trade flows (which help to reduce trade costs) experience yet a higher number of trademark applications, but to a lesser extent than patent filings.

Navigating the New Product Development Process: A Case Study of a Startup’s Journey from Ideation to Commercializatio

New Product Development (NPD) is a critical yet challenging aspect of business development, with failure rates ranging from 40% to 80%. This challenge is particularly pronounced in startups, which form the backbone of most developed economies. Despite their importance, startups often struggle with NPD, with some studies suggesting a failure rate as high as 90%. This research paper contributes to the existing literature by examining the NPD journey of a technology startup, Plugable. Plugable, an Irish enterprise in the mobility sector, aims to create a platform similar to Airbnb for private Electrical Vehicle (EV) chargers. The paper traces the journey of two products the company attempted to launch. The first product did not reach the launch stage, leading the business to revise its strategy and develop Plugable. At the time of writing, Plugable is at the prototype stage, having secured €50,000 in external funding and won several national business awards. The case study provides several key learnings for entrepreneurs in the NPD space. It underscores the importance of accurately defining the problem statement, the critical role of validation, and the significance of assembling the right team to develop an effective go-to-market strategy. These findings contribute to the emerging body of knowledge on NPD within the startup context, providing practical insights into the application of established NPD models. Furthermore, the study offers valuable insights into technology startups' unique challenges during the NPD process.