Long-term Economic Development Research Articles

Economic Impact of Major Sporting Events on Local Economies

Purpose: This study sought to explore the economic impact of major sporting events on local economies. Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library. Findings: The findings reveal that there exists a contextual and methodological gap relating to the economic impact of major sporting events on local economies. Preliminary empirical review revealed that while such events often yielded significant short-term economic benefits, including increased tourism revenue and job creation, their long-term sustainability remained uncertain due to common challenges like cost overruns and underutilized infrastructure. Factors such as event scale, location, and management influenced the extent of economic impact, with effective planning and stakeholder engagement playing crucial roles. Legacy planning and sustainable development strategies were deemed essential for maximizing economic benefits beyond the event itself, with a focus on inclusivity and social equity. The study emphasized the importance of ongoing research and evaluation to inform future decision-making processes regarding event hosting and resource allocation. Unique Contribution to Theory, Practice and Policy: The Urban Economics theory, Tourism Economics theory and Public Finance theory may be used to anchor future studies on the economic impact of major sporting events on local economies. Researchers emphasized the importance of conducting comprehensive economic impact assessments prior to hosting events, facilitating informed decision-making. Legacy planning and sustainable development strategies were advocated to ensure that event-related investments contributed to long-term economic development. Stakeholder engagement and collaboration were prioritized to distribute economic benefits equitably. Diversifying revenue streams and leveraging ancillary economic opportunities were recommended to maximize economic benefits. Additionally, promoting destination branding and tourism development was highlighted as a key strategy for attracting investment and business opportunities. Policymakers were advised to adopt a holistic approach to event planning, integrating economic, social, cultural, and environmental considerations to host successful and sustainable events.

Reevaluating energy progress: An in-depth policy framework of energy, urbanization, and economic development

Pakistan has challenging energy-related economic concerns, including accessibility, affordability, and sustainability, all of which significantly impact the country's economic development and growth prospects. This study seeks to uncover the intricate link between energy use, power costs, urbanization, alternative energy consumption, and economic development from 1970 to 2018. Utilizing the Autoregressive Distributed Lag (ARDL) approach, Frequency Domain Causality (FDC), and Innovative Accounting Approach (IAA), the research finds that energy use and urbanization positively impact economic development in the short and long term. Conversely, alternative energy consumption declines in the short run, while rising power costs negatively affect long-term economic development. FDC results indicate that rising power costs affect economic development in the short, medium, and long run, while urbanization has a long and short-term and energy use has a long- and medium-run impact on economic development in Pakistan. IAA aligns with ARDL and FDC hypotheses. This underscores the vital role of energy use and costs in economic activity, emphasizing the need for prudent urbanization and strategic alternative energy integration in long-term policy for Pakistan.

Impact of green manufacturing, green purchasing, and eco-design on organizational performance in the FMCG sector of Pakistan

Global warming, air pollution, and natural resource depletion have severely changed how businesses manufacture and provide goods and services. Greening supply chains have attracted the attention of practitioners in several nations in this context. Carbon taxes, for example, have been made a legal necessity in various countries. However, green supply chain management methods and their influence on company performance are still in their early stages of adoption. Firms frequently require the engagement of their supply chain participants to meet rising stakeholder demands for ecologically friendly goods and processes. GSCM is a collection of managerial approaches that include environmental concerns in the supply chain. Green supply chain management may help a company gain a competitive edge while improving its environmental sustainability. The overarching goal of this thesis is to add to the conversation on green supply chain management methods by examining their drivers and performance implications for the FMCG sector of Pakistan. FMCG company's supply chain must be prioritized to be efficient and effective in GSCM because these products are essential for everyone. This study aims to raise awareness about the importance of GSCM practices for the advantage of society and long-term economic and environmental development. The respondents of the 136 helped in the collection of data. They use SPSS and techniques like ANOVA, regression analysis, and correlation. All of the three hypotheses were accepted.

Analysis of Distribution and Marketing Efficiency of Pineapples from a Sharia Economic Perspective

The agricultural sector plays an important role in long-term economic development and rural economic recovery in Indonesia. The development of agricultural-based businesses and sustainable agricultural systems is needed to improve the quality of human resources and agricultural products. Horticultural commodities, such as fruit, have high economic potential and can be a source of income for farmers. However, there are several obstacles in the agricultural sector, such as competition with other horticultural products, low quality and quantity of local supplies, and a lack of transparent market information. In addition, distribution in Islam has principles that can be applied in the context of the distribution of wealth and economic resources in Islam, such as justice, equality, public benefits, prohibition of exploitation, and social solidarity. This research aims to analyze pineapple marketing distribution and pineapple marketing efficiency from a sharia economic perspective. The research method used is field research using primary and secondary data. The research results show that there are two marketing distribution channels that are used, namely marketing distribution channel I and marketing distribution channel II. Marketing distribution channel I involves farmers selling directly to the city without intermediaries, while marketing distribution channel II involves collectors buying from farmers and selling to the city. Keywords: Distribution, Efficiency, Marketing

Analyzing the Determinants of Economic Growth in Nepal

This research provides a detailed examination of Nepal's economic growth, emphasizing the transition from agricultural to non-agricultural businesses, the adoption of policies to boost capital formation, and the macroeconomic challenges encountered. It identifies critical variables like the currency rate and technical advancements. The study aims to investigate the relationship between rising per capita GDP and the variables that impact it to uncover useful information about the forces that drive economic progress. Infrastructure development, human capital investment, political stability, macroeconomic stability, trade and investment, agricultural productivity, industrial development, natural resource management, financial inclusion, technological advancements, institutional quality, and global economic conditions are all important factors influencing Nepal's economic development. Their interdependent links have a considerable impact on the nation's economic trajectory, necessitating regular monitoring and evaluation. To ensure long-term and equitable economic development, policymakers must develop effective policies that include these complexities. Conducting a rigorous empirical inquiry is critical for understanding Nepal's unique situation and delivering policy recommendations. This study used an ex post facto research methodology to investigate the relationship between per capita GDP growth and numerous contributing factors.

Surface modification of rare earth elements to enhance the electrochemical stability of Ni-rich Co-free cathodes

The Ni-rich Co-free cathode materials are considered the most optimistic choice for the long-term economic development of lithium-ion batteries (LIBs) due to the limited supply and high prices of cobalt. In this study, a uniform samarium oxide (Sm2O3) layer was coated on the surface of LiNi0.8Mn0.17Fe0.03O2 (NMF) cathode materials through wet subsequent heat treatment. Compared with the unmodified cathode materials, the modified cathode materials exhibit better electrochemical performance at high voltage. The specific discharge capacity of the modified cathode materials increased from 37.5 mAh g−1 (NMF) to 118.2 mAh g−1 after 200 cycles at 1 C and the retention rate increased from 21.18% to 69.77%. The samarium oxide coating effectively inhibits the reaction between the cathode materials and the electrolyte. Therefore, our study proposes a simple and scalable method for modifying nickel-rich cobalt-free cathode materials.

Behavioural determinants of the healthcare providers in Ukraine: Focus on competition context

The development of the healthcare system is an important task for every country, given that long-term economic and social development is absolutely impossible without a healthy nation. Therefore, improving public health and ensuring that the maximum number of people have access to quality healthcare services is one of the state's strategic priorities. In this regard, the authors of the paper set a goal to establish how the reform of the healthcare system in Ukraine has led to changes in the behavioural determinants of healthcare providers and recipients in the domestic healthcare market. The paper uses such research methods as comparison, visualization, graphical data visualization tools, and statistical methods of data analysis. The study revealed that Ukrainian citizens got a chance to freely choose their physicians by signing declarations with them, which led to increased competition among physicians and other doctors and healthcare facilities; at the same time, the number of declarations signed with private healthcare facilities increased significantly. Furthermore, the developed econometric model allows us to identify statistically significant relationships between the amount of state funding and lifestyle and environmental indicators, which will allow us to improve the mechanisms and amount of funding in the sector, improving the health of the nation in the new competitive environment.

EXAMINING THE CRITICAL ROLE OF YOUTH'S PARTICIPATION AS CATALYSTS FOR SUSTAINABLE SOCIAL AND ECONOMIC DRIVERS OF DEVELOPMENT

Purpose: The purpose of the study was to examine the critical role of youth participation as catalysts for sustainable social and economic drivers of development in Africa. Theoretical Reference: The study adopted the theory of Positive Youth Development to contexualise the aim of the study. The study argues that, youth workers and other service providers using a youth development approach would be able to analyze the theories in this study and determine what influences their practice, anticipate the results of their interventions, choose the best course of action at each stage of the process, and explain their actions when working with young people. Method: Through the application of qualitative research techniques, the study primarily used peer-reviewed secondary sources available within the public domain. Since they provided the researchers with a great opportunity to connect with the body of knowledge already in existence and allowed the researchers to gain insight into the thoughts and experiences of other scholars regarding the area of study. Hence advanced searches of baseline literature were used to collect qualitative data. Results and Conclusions: The literature review examined the vital role that young people play as engines for long-term social and economic development in several African. The study argued that youth involvement promotes project ownership and sustainability and increases young people's ability to meet their basic needs. Implications of Research: Unemployment has caused Africa a lot of woes as youths embrace violence rather than embarking on projects that would benefit the continent. The paper concluded that unless impediments to the actualisation are expunged, the African continent will still take its back seat in this era of unprecedented development. Originality/ Value: The study made the case that young people must be involved as advisors, collaborators, and stakeholders if development initiatives are to be effective and representative. To guarantee that young people are engaged, it is not enough to rely just on one-time conversations; there needs to be an ongoing process.

Unraveling the Environmental Consequences of Trade Openness in South Africa: A Novel Approach Using ARDL Modeling

Abstract Free trade and environmental sustainability are currently top economic and environmental research priorities. While numerous theories connect trade openness with environmental quality, empirical evidence often fails to support these claims. Using data spanning from 1980 to 2020, our study examines the effect of trade openness on CO2 emissions in South Africa. By employing a novel ARDL modeling framework, our analysis confirms the presence of the Environmental Kuznets Curve (EKC) hypothesis in South Africa. Our findings reveal that while GDP square enhances environmental quality, trade openness and economic growth have a degrading effect over time. Additionally, the study identifies that energy consumption, FDI, and value-added activities all contribute to environmental degradation. Findings also highlights the influence of institutional quality on the environment, demonstrating that political stability and control of corruption lead to increased CO2 emissions, while the rule of law reduces CO2 emissions. The research suggested that the potential of green economies should be leveraged in developing renewable energy, sustainable development, the recycling industry, and green financing sectors. A shift in economic activity in this direction will thus foster long-term economic growth and sustainable development.

The Impact of Trade Liberalization on FDI Inflows and Economic Development

This paper investigates the impact of trade liberalization on foreign direct investment (FDI) inflows and economic development in the Czech Republic. Utilizing a mixed-methods approach, the study combines quantitative econometric analysis with qualitative case studies and interviews. The empirical results demonstrate a significant positive correlation between trade openness and FDI inflows, indicating that a 1% increase in trade openness is associated with a 0.5% increase in FDI inflows. Furthermore, the structural equation modeling (SEM) results reveal that a 1% increase in FDI inflows is associated with a 0.3% increase in GDP growth and a 0.2% increase in employment rates. These findings underscore the critical role of an open trade environment in attracting foreign investment and fostering economic development. The study also highlights the importance of other factors such as institutional quality, political stability, and infrastructure development in creating a conducive environment for FDI. Policy implications suggest that maintaining open trade policies, improving institutional frameworks, and investing in infrastructure and innovation are essential strategies for achieving long-term economic development in the Czech Republic and similar transition economies.

On China’s Navigation Rights and Interests in the Tumen River and the Japanese Sea

To achieve the goals of the Polar Silk Road strategy and boost Northeast China’s economy, China should focus on economic and trade cooperation in the Japanese Sea. Despite not being a coastal State, China can still expand its navigation rights and interests within the region. The Japanese Sea has not been fully utilized by China due to its lack of direct access, and the surrounding States’ unstable political conditions have hindered long-term economic development arrangements. This paper proposes that China should develop its right of access to the Japanese Sea through the Tumen Region and assert the navigation rights and interests of third States. China can use current agreements and international law principles to uphold its right of access to the Japanese Sea through the Tumen River. It can also invest in overseas ports and improve transportation networks to implement the strategy of "accessing the sea through harbors of other States." Furthermore, China can strengthen its presence and use of shipping routes in the Japanese Sea by strengthening regional trade routes, connecting shipping routes with the Arctic, and expanding the abroad shipping of domestic goods. Moreover, this paper suggests that China should analyze the navigation rights and interests of third States in the territorial sea, exclusive economic zones, and straits surrounding the Japanese Sea to develop its sea routes. By doing so, China can realize its goals of the Polar Silk Road strategy and revitalize Northeast China’s economy.

Investment strategy – a tool for forming sustainable competitive advantages of enterprises

Introduction. Business investment can extend beyond meeting current investment needs arising from the need to replace outdated assets and the structure of economic activity. Ensuring a stable position of enterprises on the market and long-term economic development requires appropriate investment support. This requires creating an investment management system based on scientifically balanced forecasts regarding the directions and forms that ensure the realization of the general goals of the development of enterprises and the adaptation of their activities to the conditions of the external environment. The investment strategy is an effective tool for long-term management of the enterprise's investment activities in the conditions of the realization of the goals of economic development, significant changes in macro- and micro-economic factors, the influence of state regulation on market processes, the state of the investment market and related uncertainties. This determined the choice of topic, research structure, relevance, and theoretical and practical significance. This article aims to form an investment strategy as a tool for obtaining sustainable competitive advantages for enterprises. The results. Understanding the essence of investment and its implementation mechanism in modern conditions will allow food enterprises to optimize their activities, contribute to the company's development, and increase their market competitiveness. Investments are a vital tool in the competitive struggle, as their implementation leads to lower costs, lower prices, increased profits, the emergence of new needs, attracting financial resources, and improving the manufacturer's image. Conclusions. Investments play a pivotal role in implementing innovations, be it scientific, technical, organizational, or socio-technical. These innovations are aimed at use in the operational, investment, or financial spheres of the enterprise, with the goal of generating income and influencing qualitative changes in social and economic terms. Therefore, in the modern market, and particularly in the post-war period, investment and innovation activity in Ukraine will be a key driver of economic development and a prerequisite for enhancing the competitiveness of enterprises. Keywords: investments, innovations, strategic management, influencing factors, fruit and vegetable preserves.

Japan's Digital Economy: A Way Forward for Economic Revivalism

The term "digital economy" refers to a variety of commercial and economic activities that rely on electronic communications and technology such as e-commerce and digital marketing. This trend promotes innovation and allows small and medium-sized businesses to penetrate global markets with little expenditure. Furthermore, digital data from online interactions provides insights into consumer behaviour, which helps with marketing tactics and product development. Despite Japan's technological legacy, difficulties such as an ageing population and economic stagnation need the use of digital breakthroughs to stimulate growth. Empirical study demonstrates that the digital economy has a positive impact on industry restructuring in Japan. Regional disparities highlight the importance of specialized solutions, with government involvement critical, particularly in places lacking digital development. Future success is contingent on investments in talent and technology. Japan may achieve long-term economic development by adopting the digital economy and investing in human capital. As technology advances, Japan must adapt and innovate to remain competitive on the global stage. This necessitates continual research and development investments, as well as the promotion of an entrepreneurial and digital literate culture. Japan can solve its economic woes by harnessing its technology expertise and embracing digital transformation.

GREEN ECONOMY WITH ECONOMIC GROWTH AND PER CAPITA INCOME IN VIETNAM

Objective: The objective of this study is to investigate the green economy with economic growth and per capita income in Vietnam, to analyze the quantitative relationship among those factors, and to improve long-term green economic development in Vietnam towards sustainable national economic growth. Theoretical Framework: In this topic, the main concepts and theories that underpin the research are presented. The inverted U-shaped model of Kuznets; Green economy concept and regression model stand out, providing a solid basis for understanding the context of the investigation. Method: The methodology adopted for this research comprises desk research methods to clarify the theoretical basis of green economy, economic growth, and per capita income; qualitative research methods; and quantitative research methods. Data collection was carried out through the collection of time-series data: Real Gross Domestic Product (GDP), Gross Domestic Product per capita (GDPP), and CO2 emissions from 1995 to 2022 from the World Bank website. Results and Discussion: The results obtained revealed the positive relationship between economic growth, CO2 emissions, and per capita income in the short term; however, in the long term, when GDP as well as per capita income reach a certain threshold. The level of waste gradually decreases and environmental quality improves. In the discussion section, these results are contextualized in light of the theoretical framework, highlighting the implications and relationships identified. Possible discrepancies and limitations of the study are also considered in this section. Research Implications: The practical and theoretical implications of this research are discussed, providing insights into how the results can be applied or influence practices in the field of development economics. These implications could encompass many sectors, especially the processing industry. Originality/Value: This study contributes to the literature by Simon Kuznets - economic growth is not a threat, but rather a means to improve the environment in the future. The relevance and value of this research are evidenced by contributing one more case in Vietnam which approves Kuznets curve on the environment and thus is the basis for future research on this urgent problem all over the world.

Analyzing spatio-temporal changes and trade-offs/synergies of gross ecosystem product based on water-energy-food nexus.

The value of the ecosystem's ultimate goods and services for human welfare and long-term economic and social development is known as the gross ecosystem product (GEP). For the study of GEP accounting, the suggested water-energy-food (WEF) nexus offers a fresh viewpoint. This work aims to build a GEP accounting index system based on WEF, investigate its spatio-temporal evolution characteristics, and assess trade-offs and synergies between and within the water, energy, and food subsystems. Using the Three Gorges Reservoir area (TGRA) as an illustration, the findings revealed that, firstly, the comprehensive benefit of GEP based on WEF showed an upward trend in TGRA. Still, it was worth noting that the total production of the food ecosystem decreased. Secondly, the GEP based on WEF in five periods showed a spatial pattern of "high east and west, low middle." Thirdly, the Pearson correlation coefficient indicated that the GEP trade-off relationships based on WEF were dominant in TGRA, with the strongest trade-offs between AQV, SCV, APV, and LEV. In addition, in bivariate local spatial autocorrelation, the value of the six ecosystem service function relationships was dominated by the trade-off relationship, and the distribution of trade-offs and synergies showed significant heterogeneity at the county scale in the TGRA. Finally, hot spot analysis showed that the hot spots of the gross water and energy ecosystem products were scattered in the tail area of the study area. In contrast, the hot spots of the gross food ecosystem product were concentrated in the belly region. The findings of this study provided a basis for the scientific formulation of territorial spatial pattern optimization for water, energy, and agricultural resources in the TGRA and can more accurately reflect the status of the ecological environment and changes of WEF over time. Moreover, this paper also gives full play to the growth advantages of shipping and aquatic products, implements effective soil erosion prevention and control measures, and establishes water-saving mechanisms and other measures in terms of water resources. Subregional plans for industrial structure and strengthening of waste gas and wastewater treatment facilities regarding energy resources are developed. Implement the cultivated land protection system and promote the superiority of crop varieties and other measures in terms of food resources.

CREATING A SUSTAINABLE DIGITAL BUSINESS ECOSYSTEM: CHALLENGES AND OPPORTUNITIES FOR GLOBAL ECONOMIC DEVELOPMENT

This research aims to analyze the challenges and opportunities in creating a sustainable digital business ecosystem to support inclusive global economic growth. The research method used includes collecting and analyzing various documents such as research reports, academic publications, government policies, and industry documents related to digital business ecosystems, sustainability, and global economic development. The results show that the integration between the concepts of digital business ecosystems and sustainability has a crucial role in creating a sustainable business environment. Key factors such as digital inclusion, sustainable innovation and multi-stakeholder partnerships were identified as important elements in achieving this goal. The implications of this research highlight the need for collaborative action between governments, companies, and non-governmental organizations in designing policies and business practices that support sustainable economic growth. Building a comprehensive, forward-thinking, and environmentally friendly digital business network is essential for long-term economic development that positively impacts society. Stakeholders can achieve long-term improvements that benefit future generations by prioritizing economic, social, and environmental sustainability. This research aims to build a durable digital business environment for the betterment of the world economy through its contribution to academic literature and business practice.

Comparative Analysis of Budget Performance in Nigeria: Pre and Post-Covid-19 Impact

This research investigates the pronounced impact of the Covid-19 epidemic on Nigeria's fiscal performance, evaluating the budget dynamics both before and after the pandemic. The findings reveal a persistent pattern of budget underperformance characterized by revenue shortfalls and a reliance on international loans for budget implementation. This is a notable trend, considering Nigeria's status as an oil-producing nation. The study underscores a concerning aspect wherein the country, traditionally recognized for its oil wealth, finds itself in the paradoxical position of servicing significant debt. The fiscal challenges, exacerbated by the pandemic, have necessitated a closer examination of economic policies and their implications. In response to the economic fallout, the Nigerian government enacted the Economic Sustainability Plan (ESP, 2020) as a comprehensive post-Covid-19 recovery strategy. While this plan holds promise for economic revitalization, the effectiveness of its accompanying policies in addressing the root causes of fiscal challenges remains a crucial aspect to monitor. As the nation grapples with the aftermath of the pandemic, there is a pressing need for meticulous policy implementation to ensure that the Economic Sustainability Plan not only alleviates immediate economic concerns but also serves as a catalyst for long-term, inclusive, and sustainable economic development. This study contributes to the ongoing discourse on Nigeria's economic resilience in the face of external shocks, emphasizing the imperative of sound fiscal management and policy efficacy for a robust recovery.

Azerbaijan: pathways for decarbonization in a global context

ABSTRACT As economies around the world are increasing their mitigation ambitions, Azerbaijan’s lingering dependency on fossil fuel exports threatens its medium – and long-term economic development prospects. Global decarbonization is expected to directly impact the country’s resource rents through lower fossil fuel demand and prices. In this regard, it is crucial to understand the potential implications of the global mitigation efforts on the economy of Azerbaijan and evaluate the domestic mitigation policies. To address this gap in the literature, we use a global dynamic computable general equilibrium model and explore a set of forward-looking climate policy scenarios till 2060. Our results suggest that while being adversely impacted by decarbonization efforts in countries around the world, it is in Azerbaijan’s self-interest to implement domestic mitigation policies. With proper sequencing and design of such policies, including a combination of fossil-fuel subsidies reform, the introduction of carbon prices post-2030 and recycling of the additionally collected revenue via reduced factor taxes, the country could achieve NDC targets, boost economic growth and increase economic diversification. More ambitious mitigation efforts, consistent with reaching net-zero emissions by 2060 would result in substantial health co-benefits from improved air quality, which could almost fully outweigh the direct economic costs of such mitigation.

Epidemics, disease control, and China’s long-term development

This study examines the impact of historical disease burden on the development of contemporary China. Using historical records spanning nearly six centuries, we construct a county-level dataset for the distribution of epidemics in China. Our results indicate that historical disease pressure has a positive impact on long-term economic development. This positive association withstands rigorous testing through a series of robustness checks. Furthermore, we find that earlier institutional development in disease control and the improvement in human capital are effective channels. The establishment of disease prevention centers facilitated the early adoption of modern disease control systems, which, in turn, enhanced public health, education, and productive activities.

ANALYSIS OF THE INVESTMENT ATTRACTIVENESS OF UKRAINE

The article is devoted to the issues of investment attractiveness of Ukraine in the context of economic recovery after the Russian-Ukrainian war. The main objective of the article is to assess the current state of investment attractiveness of the national economy and to identify priority areas for its improvement. The use of innovative research methods in assessing the investment attractiveness of the national economy is a fundamental element for building an up-to-date model for its improvement. As a result, an increase in foreign direct investment flows into the country's priority sectors will allow the national economy to recover on the principle of "build-back better", which is in line with Ukraine's short-term priorities. The innovative component of these investments, in turn, will make a great contribution to the long-term economic development of the country even after the return of the pre-war level of the economy, creating additional jobs and promoting high-tech exports The main issues of the methodology for analyzing the investment attractiveness of the country are revealed. The indicators for assessing investment attractiveness using the indices of rating agencies are detailed.