Long-term Economic Prosperity Research Articles

THE NEXUS OF INDUCING DEVELOPMENT: MEASURE PATH DISCOURSES IN INDONESIA’S DYNAMIC LANDSCAPE

The research objective underscores the importance of human capital, innovation, and research in fostering sustainable economic growth, with a focus on principal variables such as human capital development (measured by HDI), innovation and competitiveness (driven by FDI inflows), R&D expenditure, and employment dynamics. The research results reveals that FDI, R&D spending, and employment significantly impact TFP growth, with FDI inflows identified as a push driver of TFP growth by enhancing innovation and competitiveness. This research applies the research methodology ARDL model to delve into the factors that influence Total Factor Productivity (TFP), drawing on Romer’s theory of endogenous growth. The research results also highlight the role of R&D expenditure in boosting TFP, emphasizing the need for a supportive environment for research and innovation. The labor force is also found to contribute significantly to TFP. The research further explores the interaction between the labor force and R&D, suggesting the need for policies that support both workforce development and innovation for sustained prosperity. The study also incorporates the concept of employment elasticity with respect to growth as a measure of inclusive development. It concludes by advising stakeholders to prioritize the promotion of FDI inflows, entice R&D spending, and treatise labor force issues to enhance TFP growth and ensure long-term economic prosperity. This underscores the importance of stakeholders’ cooperation in leveraging investments for long-term economic prosperity.

Exploring the pathways accounting: Foreign direct investment as a catalyst for idiosyncratic risk, sectoral GDP, economic activity, and economic growth

This study examines the interaction between foreign direct investment (FDI), idiosyncratic risk, sectoral GDP, economic activity, and economic growth in ASEAN countries using structural equation modeling (SEM) performed using AMOS software. The analysis uses data from the ASEAN Statistics Database 2023 to distinguish the significant direct and indirect impacts of FDI on idiosyncratic risks, sectoral GDP, economic activity and aggregate economic growth can. ASEAN, which includes ten Southeast Asian countries, has experienced rapid economic growth and increasing integration in recent decades, making it an interesting area to study these relationships. The study covers a comprehensive period to capture trends and differences among ASEAN member states. Applying SEM with AMOS allows a detailed examination of complex relationships between important economic variables. The results show a clear link between FDI inflows, idiosyncratic risks, industry GDP performance, economic activity, and overall economic growth. More specifically, FDI inflows have a notable direct influence on idiosyncratic risks, which then impact GDP growth by sector, and the level of economic activity and ultimately contribute to economic growth trends. economy more broadly in ASEAN countries. These findings highlight the importance of understanding and effectively managing the dynamics between FDI and various economic indicators to promote sustainable economic development across ASEAN. This information can inform policymakers, investors, and stakeholders in developing targeted strategies and policies that maximize the benefits of FDI while minimizing related risks to promote strong and inclusive economic growth in the region. This study highlights the multifaceted relationships in the ASEAN economic context, emphasizing the need for strategic interventions and policy frameworks to exploit the potential of foreign investment directed at ASEAN, to the Sustainable Development Goals and long-term economic prosperity in the region.

Taxes and Infrastructure Development: A Review from Various Countries

The purpose of this study is to examine the intricate interplay between taxation policies, infrastructure financing, and economic competitiveness, with a focus on identifying key drivers and challenges in facilitating sustainable infrastructure development. Employing a qualitative literature review approach, the research design involves systematically analyzing a diverse range of scholarly articles, books, and reports related to taxation, infrastructure development, and public-private partnerships (PPPs). Keywords such as "taxation policies," "infrastructure financing," "public-private partnerships," "economic competitiveness," and "sustainable development" are utilized to refine the search and ensure inclusivity. The findings and discussion highlight the pivotal role of taxation policies in mobilizing funds for infrastructure projects, the potential benefits and challenges of PPPs in addressing infrastructure deficits, and the implications of sustainable infrastructure development for long-term economic prosperity. The implications of this study extend to both academia and practice, offering insights for policymakers, practitioners, and stakeholders involved in infrastructure development. By understanding the mechanisms driving infrastructure investment and governance, policymakers can formulate evidence-based strategies to promote inclusive and sustainable development. Moreover, practitioners can leverage these findings to enhance project planning, risk management, and stakeholder engagement in infrastructure projects. Overall, this study contributes to a deeper understanding of the complexities surrounding taxation, infrastructure development, and PPPs, ultimately informing more effective and sustainable approaches to infrastructure investment and governance.

Fiscal Policy after the COVID-19 Pandemic: Step Change or Status Quo?

The scope and reach of fiscal policy responses to the COVID-19 pandemic contrasted with the fiscal policy implemented in the immediate aftermath of the 2007 global financial crisis. However, the advent of high inflation that followed effectively nipped the prospects of a more radical shift in the fiscal policy paradigm in the bud, with monetary policy taking the lead. This article analyses the causes of the subsequent lack of a step change in the approach to fiscal policymaking through a comparative study of fiscal policy responses to the COVID-19 pandemic in the UK and the USA. Based on qualitative interdisciplinary analysis, the article shows how the ideological foundations of fiscal policy are formed and their consequences for policy implementation in times of crises and recovery. The article discusses what changes in the approach to fiscal policy are needed to secure a more equitable, long-term economic prosperity.

Income Inequality as a Barrier to Economic Growth

This paper examines the relationship between income inequality and economic growth. Drawing on existing literature and empirical data, we analyze the effects of income inequality on the US GDP using statistical methods such as linear modeling. Our results show that high levels of income inequality are a barrier to sustained economic growth, as the concentration of wealth in a few individuals limits overall consumer spending and investment. Additionally, we find that income inequality exacerbates social and political instability, leading to further negative consequences for economic growth. We conclude that addressing income inequality through policy interventions such as progressive taxation and redistribution is essential for promoting long-term economic prosperity and equity in the United States. Our research contributes to the ongoing discourse on income inequality and its implications for economic growth and highlights the need for evidence-based policy solutions to address this pressing issue.

Business Character Implementation Strategy for The Community of Teluk Patipi District

This research focuses on evaluating the preparedness of the inhabitants of Patipi Pasir village and its vicinities within East Fakfak district to cultivate their entrepreneurial spirit. The pivotal aim is to harness their potential in managing local natural resources effectively, thereby contributing significantly to the economic acceleration of the Fakfak district. Employing a descriptive research methodology, the study utilizes a semi-qualitative analysis method, with the gap analysis technique depicted through a fishbone diagram to pinpoint areas requiring improvement. Moreover, the strategic implementation for nurturing business character among the local populace is devised through the innovative use of the Ishikawa diagram, integrated with the Balanced Score Cards approach, providing a comprehensive framework for development. The findings reveal that the Patipi Bay District boasts considerable human resource potential that, if adequately nurtured, can lead to the effective management of its natural resources into sustainable businesses. The study underscores the necessity of developing a robust entrepreneurial ecosystem that supports the local community's transition towards sustainable economic practices. This entails providing adequate training, resources, and support systems to empower the community, ensuring they are well-equipped to capitalize on the intrinsic value of their natural resources. Through strategic planning and targeted development programs, the research envisions transforming the Patipi Bay District into a model for sustainable business development, leveraging its natural assets for long-term economic prosperity

Supply chain pattern of blue swimming crabs in the north coast of Java, Indonesia

The blue swimming crabs (BSC) fishing industry in Indonesia is heading towards an imbalance between demand and sustainability of its resources, a factor in supply. The mismanagement of traceability data and information in the supply chain is suspected to be one of the causes adding to the complexity of recent BSC fisheries management. This research aimed to identify BSC supply chain patterns and their issues, especially on two coastal regencies on the North Coast of the Java Sea. The research was conducted during June and December 2023 in Cirebon Regency and Rembang Regency. The study enlisted 70 participants, comprising fishermen, traders, processors, and exporters, with data acquisition facilitated through surveys, interviews, and focus group discussions. Respondent selection employed purposive sampling, while snowball sampling identified pertinent informants within the supply chain. Data analysis encompassed qualitative description and Likert-type scale perception analysis. The findings show that the BSC fishing industry on the North Coast of the Java Sea operates as small-scale fisheries (SSF), with unique vessel types, gear, and socioeconomic conditions crucial for livelihoods. Fishermen prioritize sustainability by using small vessels and traditional gear despite limited education. The BSC supply chain involves stakeholders offering high-value products, yet by-product utilization potential is untapped, requiring improved coordination and innovation. Challenges include export standards, market fluctuations, and product safety, addressed through regulatory support and collaboration. Government regulations, fishermen groups, and data traceability enhance market transparency and sustainability. Therefore, collective action and innovative approaches are vital for long-term economic prosperity and environmental stewardship in the BSC supply chain.

EXAMINING THE LINK BETWEEN BANKING SECTOR DEVELOPMENT AND ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS OF ALBANIA

This research aims to examine the relationship between banking sector development and economic growth in Albania, focusing on specific indicators such as bank capital to asset ratio, non-performing loans, credit to the private sector, deposit money bank assets to GDP, inflation rate, and GDP growth. The study is grounded in the finance-growth nexus theory, which posits that financial development fosters economic growth through improved capital accumulation and resource allocation. The framework considers how banking sector health influences macroeconomic stability and growth. The research employs a quantitative approach using secondary data from credible sources such as the World Bank. The econometric model assesses the impact of banking sector indicators on economic growth in Albania over the period 2012-2021. Findings confirm that banking sector development significantly impacts economic growth in Albania. High levels of non-performing loans hinder growth, while enhanced credit to the private sector and robust bank capital ratios promote economic development. Policymakers should focus on reducing non-performing loans and strengthening the banking sector’s capital base to foster sustainable economic growth. Effective financial regulations and policies are crucial to ensuring a stable and efficient banking sector that can support long-term economic prosperity in Albania.

The Dance of Debt and Growth in South Asian Economies: Panel ARDL and NARDL Evidence

This article explores the complicated relationship between external debt and economic growth in South Asian IMF member countries, emphasizing the critical role of external debt in financing development while underscoring the necessity of sensible debt management. Using a diverse regional context, including case studies of India, Bangladesh, Sri Lanka, and Pakistan, it highlights the impact of external debt on economic trajectories within distinct national settings. Employing a comprehensive dataset spanning over three decades and utilizing both Panel Autoregressive Distributed Lag (PARDL) and Panel Nonlinear Autoregressive distributed lag (PNARDL) techniques, the study reveals significant insights into short-term, long-term, and asymmetric dynamics in this relationship. The results underline the importance of sustainable borrowing practices and sensible debt management to sustain long-term economic prosperity. Additionally, the article emphasizes the integral role of government stability, the significance of addressing domestic production limitations, and the critical need for price stability. Policy recommendations are offered to guide South Asian nations in optimizing the positive impact of external debt on economic growth while avoiding potential pitfalls. Overall, this research contributes valuable insights for policymakers and scholars, shedding light on the intricate dynamics of economic growth in this region.

Nexus between economy, technology, and ecological footprint in China

In contemporary times, nations across the globe, encompassing both developed and emerging economies, are actively pursuing the objective of achieving sustainable economic growth. China, as a prominent emerging nation, holds a significant position in the worldwide environment. However, it is imperative to acknowledge that China's ecological impact is substantial, as evidenced by its considerable contribution of almost one-third of the total global carbon emissions in the year 2021. The encouraging aspect lies in the emergence of China as a significant economic power, which may be attributed to the positive impact of technological advancements. The scientific literature suggests that the use of novel technologies has the potential to contribute significantly to mitigating environmental degradation. The objective of this study is to investigate the impact of China's economic growth and technological advancements on ecological footprint throughout the period spanning from 1985 to 2020. This study utilizes the ecological footprint concept as a means to assess environmental degradation in China. The ARDL cointegration methodology is utilized to estimate the long- and short-term impacts, and the outcomes are validated through the application of further cointegration regression techniques. Furthermore, the pairwise Granger causality analysis is employed to examine the causal links among the variables. The empirical evidence suggests that economic expansion exacerbates environmental degradation in China, whereas technological progress plays a mitigating role in addressing this issue. The results of the study also demonstrated a bidirectional causality between economic growth and technological innovation, suggesting that China's economic growth and technological progress mutually reinforce one another. The paper proposes green technical solutions that have the potential to mitigate environmental degradation while maintaining economic growth. Sustaining long-term economic prosperity necessitates the implementation of both carbon emission taxation and strategic investments in environmentally beneficial technologies.

Transatlantic strategic convergence on China and the scramble for critical minerals

Purpose The purpose of this paper is to investigate the trend of transatlantic strategic convergence and policy coordination in response to Chinese trade practices and technological competition, specifically in the critical minerals sector. Design/methodology/approach The research draws on primary and secondary source material to identify evidence of and examine the drivers, manifestations and prospects for effective US-European efforts to advance the shared aim of reducing vulnerabilities in critical minerals supply chains. Findings The interests of the USA and Europe would be best served by prioritizing their own security, diversification and resilience strategies while seeking areas of common ground and constructive engagement with China. Research limitations/implications The research offers a fresh perspective on the growing alignment and persistent gaps in US and European perspectives on China’s rising influence and assertive behavior. Originality/value The research highlights the vital role of critical minerals in national security, economic competitiveness, technological advancement and sustainable resource management. It underscores the shared recognition on both sides of the Atlantic that securing a stable supply of critical minerals – essential for maintaining strategic capabilities, driving innovation and ensuring long-term economic prosperity – necessitates tighter transatlantic coordination as well as constructive engagement with China.

Sustainable Institutional Entrepreneurial Culture and Innovation For Economic Growth

This article discusses institutional entrepreneurial culture and the enabling factors for sustainable economic growth. This study aims to identify the key factors contributing to institutional entrepreneurial culture development. The research utilizes a qualitative approach, and the results show that an innovative and entrepreneurial culture can enhance a country's long-term economic prosperity. A strong relationship exists between culture, innovation, and long-term economic success. Therefore, it is important to promote an institutional entrepreneurial culture through several factors, such as supporting government policies and programs, developing supporting infrastructure, education, and training, and cooperation between the public and private sectors. This research provides useful insights for policies and interests in the economic sector to promote innovation and entrepreneurship that can enhance economic growth. As such, this article provides important insights for readers interested in developing a sustainable institutional entrepreneurial culture and economic growth.

Implementing Agricultural Policies: Driving Sustainable Growth in the Farming Sector in Indonesia

The agricultural sector plays a crucial role in the economic development of Indonesia, providing employment opportunities and contributing to the country's food security. However, the sector faces numerous challenges that hinder its growth and sustainability. This research aims to explore the implementation of agricultural policies as a means to drive sustainable growth in the farming sector in Indonesia. The study's objective is to assess the effectiveness of agricultural policies in promoting sustainable practices, improving productivity, and enhancing the overall performance of the farming sector. The research employs a mixed-methods approach, combining qualitative and quantitative analysis. A comprehensive literature review is conducted to understand the existing agricultural policies and their impact on the sector. Primary data is collected through surveys and interviews with farmers, policymakers, and agricultural experts. The survey responses are analyzed using statistical techniques to identify trends, patterns, and correlations. The interviews provide insights into the perceptions and experiences of various stakeholders involved in the agricultural sector. The findings of this research shed light on the current state of agricultural policies in Indonesia and their impact on the farming sector. The analysis reveals the strengths and weaknesses of existing policies, highlighting areas that require improvement. Furthermore, the study identifies successful policy interventions and best practices that have contributed to sustainable growth in the farming sector. The study recommends policy measures to address the identified weaknesses and leverage successful interventions. By implementing effective agricultural policies, Indonesia can achieve sustainable growth in the farming sector, ensuring long-term economic prosperity and food security for its population.

How natural resources collaboration affects the pollutants level and economic growth: Novel evidence from China

Due to its extensive use of natural resources and industrial activities, China, a rapidly developing country, has faced significant environmental challenges. The study investigates the collaboration of natural resources, pollution levels, and economic growth in China from 2005 to 2021. It offers fresh evidence on how collaboration affects these factors using a Difference-in-Differences (DID) model. The results show that sharing natural resources significantly lowers China's pollutant levels. Pollution has decreased over time as a result of teamwork in environmental management. The study also demonstrates how sustainable collaboration techniques benefit economic development. Collaboration leads to effective environmental management, which improves overall productivity and the state of the economy. The study emphasizes the significance of encouraging and aiding cooperation concerning natural resources to achieve sustainable development objectives. Policymakers can use these findings to emphasize teamwork in resource management to promote a cleaner environment and long-term economic prosperity in China.

Does Total Factor Productivity Growth Ameliorate Socio-Economic Stance? New Findings from Central and Eastern Europe

Abstract National income calculations may not include knowledge that directly concerns the socioeconomic stance in an economy. Knowledge plays a significant role in promoting the economic growth of a country; however, its socio-economic role has received little attention in the literature. Total factor productivity, which is the main source of long-term economic prosperity, expresses the increase in productivity in all production factors. This paper attempts to quantify the effects of total factor productivity growth on economic prosperity. The analysis is conducted for the 2007-2020 period and 18 Central Eastern Europe countries. The “Legatum Prosperity Index” is utilized in the econometric analysis, in line with the purpose of the study. Results of the study with panel ordinary least squares, panel fixed-effects, panel random effects, panel-corrected standard errors (robustness check), and system-generalized method of moments (robustness check) confirm that total factor productivity growth positively correlated with economic prosperity.

The Impact of Foreign Direct Investment on Economic Growth in Bangladesh.

FDI can greatly reduce poverty by fostering long-term economic prosperity; it is a special indicator of economic growth in developing nations. As a result, utilizing annual time series data from 1986 to 2022, the research's primary goal is to investigate the impact of foreign direct investment on Bangladesh's economic growth. This goal was accomplished by processing the qualitative and economic analysis. This study investigated the impact of FDI on economic development in Bangladesh by employing standard time-series econometric tools, namely, unit root tests to check stationarity and augmented autoregressive distributed lag (augmented ARDL) bounds testing approaches to check cointegration. The final results of the ARDL model discovered that exports and foreign direct investment had an impact on economic growth over the long and short terms. In order to boost the quantity of FDI that enters Bangladesh, the current study recommends that a sound foreign investment strategy and liberal trade policy be formed that protect foreign investment and the interests of the economy. Keywords: Foreign direct investment, Economic growth, sounds foreign investment strategy, liberal trade policy and Bangladesh.

Evaluasi Kepuasan Pembangunan Infrastuktur Jalan di Kota Dumai

Infrastructure development is one of the fundamental elements to accelerating regional and national growth. The government is in charge of infrastructure development as a way to give the residents of Dumai City the best services possible. Infrastructure like transportation, telecommunications, sanitation, and energy availability cannot be isolated from a country's or region's rate of economic growth and investment. It also has a significant impact as one of the forces driving economic expansion, which is the cornerstone of long-term economic prosperity. This study aims to gauge community satisfaction with the current road infrastructure in Dumai City in addition to bringing the Dumai City Government's attention to damaged road infrastructure. Data was gathered using a Google form-based smartphone application, and IBM SPSS Statistics version 26 was used for analysis. For the research sample in this study, 100 samples of respondents were chosen. Due to the Dumai City Government's lack of attempts to repair damaged roads, the community is dissatisfied with the road infrastructure, according to the study's findings.

Bootstrap ARDL on health expenditure, green energy, environmental sustainability, and economic growth nexus in Saudi Arabia

The Bootstrap Autoregressive Distributed Lag (BARDL) cointegration model used to examine whether there is a short and long-run relationship between health expenditure per capita Environmental Sustainability is measured by CO2 emissions per capita (CO2), GDP per capita (GDPPC), and Green Energy is measured by Electric Power Consumption per capita (GEPC) in Saudi Arabia using annual time-series data from 1995 to 2021. The significant results show no long-term cointegration relationship between Saudi Arabian variables. Therefore, the Bootstrap ARDL Bound Test offered significant empirical support for the validity of no cointegration between the variables. The empirical data show a unidirectional relationship between GDP per capita and health expenditure, green energy and CO2 emissions per capita. The data also show a bidirectional relationship between health expenditure and CO2 emissions and GDP per growth, whereas the same relation hold between green energy and economic growth. These findings would attract policymakers to expand economic growth and development’s environmental and health benefits. Moreover, to reduce the effects of global warming without affecting environmental health or the country’s long-term economic prosperity.

A study of clinical profile and outcome of malaria in adults at government general hospital, Nizamabad

What has to be stressed is the need to be cautious with such individuals and to broaden our differentials to include P. vivax as a possible cause of severe malaria. Patients who are aggressively handled and treated can have a better outcome.To study the clinical profile and outcome of malaria in adults at Government General Hospital in our local area. A Cross-sectional, observational study done in Department of general medicine in Fifty smear positive malaria patients admitted to the medical wards and intensive care units are included in the study. Study done for a period of 1 Year . Patients of either gender, above 18 years of age and below 60 years of age, diagnosed with malaria on peripheral smear were included in study.: A total number of 50 smear positive malaria patients were included in the study. Majority of the patients belongs to the age group of 18-30 years [36%] CNS findings: Altered Sensorium was seen in 20% patients and convulsions were seen in 20% patients. Complicated malaria was present in 76% patients and uncomplicated malaria was present in 24% patients. Complicated falciparum malaria was present in 30% patients and Complicated Vivax malaria was present in 46% patients. Uncomplicated falciparum malaria was present in 4% patients and Uncomplicated Vivax malaria was present in 20% patients. Mortality was seen in 6% patients. Mortality was seen in the age group of 41- 50 years [66.7%] and 31-40 years [33.3%]. : Malaria complications can be reduced by studying the clinical profile of the disease and using proper antimalarial medication treatment. This aids in the reduction of malaria morbidity and death, as well as the country's long-term economic prosperity.

The role of tourism development in India's environmental degradation: evidence from ARDL and wavelet coherence approaches

PurposeThis empirical study explores the role of tourism development (TD) in India's environmental degradation. Since sustainable eco-tourism is essential for India, whose long-term economic prosperity also depends on robust tourism growth. Hence, this study offers specific policy proposals for sustainable tourism based on the simulated outcomes.Design/methodology/approachThe study employed the quarterly data from 1995Q1–2018Q4 for empirical validation. Moreover, the autoregressive distributed lag (ARDL) approach, Toda and Yamamoto (TY) causality model and wavelet coherence are also used to analyse the role of TD in India's environmental degradation.FindingsThe ARDL bounds test confirms the long-run relationship between the series. The long-run results from the ARDL model also indicate the driving role of TD in India's environmental degradation. In addition, the usage of the wavelet coherence method confirms the changes in TD that leads to changes in India's pollution level at different frequencies and periods, especially in the long run.Research limitations/implicationsSince this analysis is India-specific, these findings may lack generalizability to other developing economies. Therefore, researchers are encouraged to examine the impact of tourism growth on the natural environment in other countries either in a panel or time-series framework.Practical implicationsThis study suggests crucial implications for checking the pollution sands from TD without sacrificing tourism-led economic growth. This would be possible if the usage of green energy in India's transport sector is promoted.Originality/valueThis is the first study that analyzes the impact of TD on environmental degradation in the ARDL, wavelet coherence, TY frameworks for enabling the Indian economy for a sustainable tourism practice.