Main Driver Of Growth Research Articles

Trends in the Development of China's Trade Diplomacy in Promoting National Interests on the World Stage

Today, relations between China and the rest of the world are entering a new phase. China's economic miracle was fueled by industry and investment, but today domestic consumption is the main driver of growth. The country is becoming less open economically to the rest of the world. However, the rest of the world is becoming increasingly open to the impact of China, which is the world's second-largest economy and its leading trading nation. These changes are accompanied by trade tensions and growing protectionism in many countries. Since China decided to open up its economy to the rest of the world and took part in large-scale reforms, it has become a real global force.

Women’s political empowerment and economic growth

We investigate whether and how women’s political empowerment relates to technological change, the main driver of long-term economic growth. We argue that three aspects of empowerment – descriptive representation, civil liberties protection, and civil society participation – advance technological change and thereby economic growth through (a) increasing the number and variability of new ideas introduced in the economy and (b) improving the selection of more efficient ideas. Drawing on data from 182 countries and 221 years, we test various implications from our argument. Women’s political empowerment is positively related to subsequent economic growth. This relationship persists across various model specifications and when accounting for different potential confounders. The three sub-components of empowerment are also, individually, related to growth, although not as strongly as the aggregated concept. The relationship is retained across different contexts, but is clearer for “Non-Western” countries and in earlier time periods. We also find evidence that women’s political empowerment enhances technological change.

Industrial Development and Role in the National Economy

The main drivers of construction growth in the future may be road and housing construction programs financed from budgets of various levels, as well as the projected growth of construction volumes in the commercial real estate segments.

The Impact of Financial Depth and Banking Indicators on Economic Growth in the Gulf Countries: An Analytical Study

Recognition of the main drivers of economic growth of a nation is crucial to implement sound policies and regulations that enable economies to improve and progress. One of the key drivers of any strategy for economic growth is the development of the financial sector. The financial sector and its institutions play a significant role in increasing economic growth by supporting creativity and innovation, accumulating private wealth, directing savings into beneficial investments, offering different opportunities for investors, enhancing productivity, and improving the stability of the economy. The present study identifies the role of financial depth and banking indicators as a development of the financial sector in determining economic growth in the Gulf Countries (GC) from 2000 to 2018. For this purpose, the Generalized method of moments (GMM) approach is used. The results indicate that Bank Credits to the private sector are significantly contributing to the economic growth but the bank cost and deposit money banks' assets hurt economic growth in GC. Since the negative impact of credit to government and state enterprises on growth is revealing the phenomenon of crowding out, it is recommended that the governments in GC should promote credit to the private sector instead of borrowing themselves to remove the crowding-out effect.

Corrigendum to: What has driven acute public hospital expenditure growth in South Australia? An analysis of the relative importance of major expenditure drivers between 2006–07 and 2017–18.

Objective The aim of this study was to investigate whether increasing costs of delivering care have driven real growth in acute public hospital expenditure in South Australia (SA) and what has contributed to these real cost increases. Methods Using published time-series data, we decomposed inflation-adjusted growth in per capita total acute public hospital recurrent expenditure into its major utilisation and cost components to evaluate their relative contribution over the 12 years to 2017-18. Results Real per capita total acute public hospital recurrent expenditure grew by AU$667 (45.2%) over the 12-year period; of this, 86.0% was from real growth in input costs per weighted activity unit, with real growth in the average salaries of hospital staff accounting for AU$247 or 37.0%. Hospital utilisation rates contributed a minor 14.0%. Conclusion Over the 12 years to 2017-18, real growth in average clinical salaries was a more important driver of real growth in per capita total acute public hospital expenditure than rates of hospital utilisation. This would be facilitated by improvements in the scope, accuracy, quality and consistency of published national hospital data. What is known about the topic? Public hospital expenditure is one of the largest and fastest growing areas of government expenditure in Australia. Policy narratives often centre around demand pressures from an increasingly older, overweight, and chronically ill population. Comparatively little attention has been paid to the influence of increases in real input costs within the Australian context. What does this paper add? Real salary growth has been a major driver of acute public hospital recurrent expenditure growth in SA, whereas hospital utilisation rates have played a minor role. What are the implications for practitioners? A clearer understanding of the main drivers of acute public hospital expenditure growth and the resulting benefits to population health is needed to guide the efficient and sustainable use of scarce healthcare resources.

The application of dendrometers to alpine dwarf shrubs – a case study to investigate stem growth responses to environmental conditions

Abstract. Considering the recent widespread greening and browning trends associated with shrubs in arctic–alpine ecosystems, further understanding of how these shrubs respond in a rapidly changing environment is of crucial importance. We here monitor shrub growth, using high-precision dendrometers to produce fine-scale intra-annual growth patterns from hourly stem diameter variability in a widespread evergreen species (Empetrum nigrum ssp. hermaphroditum). Measurements were taken at a micrometer scale for the period 2015 till 2018 on exposed and mostly snow-free ridge positions. With the same temporal resolution, we collected near-ground environmental data and identified on-site controls of growth behavior. We found high inter-plant variability in radial stem growth but strong similarities in response patterns to the local environment. Our results suggest that the evergreen species is highly adapted to the specific local conditions, remaining partly photosynthetically active during the snow-free winter, which facilitates carbohydrate accumulation for early-season physiological activities. Additionally, we discovered a phase of radial stem shrinkage during the winter months, which can be attributed to an active cell water reduction to protect the plant from frost damage. We conclude that soil moisture availability and winter snow conditions are the main drivers of radial stem growth of E. hermaphroditum in arctic and alpine regions and could negatively affect the species' distribution in a warming climate.

FORMATION OF PRIORITIES FOR THE DEVELOPMENT OF INTELLECTUAL POTENTIAL IN THE CONDITIONS OF ESTABLISHING A KNOWLEDGE-BASED ECONOMY

Abstract. Ukrainian economic development innovative model formation is accompanied by the scientific and technological developments, and high breakthrough nature technologies introduction. These circumstances objectively set Ukraine the task for interaction strengthening of higher education, science and innovation, intellectual potential effective use as the main driver of socio-economic growth. The article substantiates the strategic priorities for Ukrainian intellectual potential development in the formation of knowledge-based economy social transformation conditions. A new essence understanding of the category «intellectual potential of society» is proposed. In the knowledge-based economy paradigm, the main social goal is human and his labor and intellectual development. The priority place of man in the system of modern socio-economic development is substantiated and its triune role as a source of national wealth, its part and purpose of social development is proved. Global and national challenges for Ukraine in the context of preventing degradation and destruction of existing intellectual potential are described. Emphasis is placed on the fact that the national intellect as the most valuable humanity capital, as well as knowledge becomes the main driver of value creation. It is proved that Ukrainian intellectual potential development can be ensured by competitive education, leading science, innovative technologies and spiritual culture. In our opinion, the state policy of intellectual potential development and use in Ukraine as a component of the national policy should be relevant. A set of measures to activate the intellectual potential use is identified. The practical recommendations implementation makes it possible to modify the conceptual basis for proving the imperative characteristics of intellectual potential as a strategic resource for the society development in the context of global political and economic challenges.Identifying priority areas and understanding their impact on the processes of intellectual potential development and effective use, the formation of values in society, will contribute to the formation of a knowledge-based economy. Keywords: knowledge-based economy, intellectual potential, social and economic development, scientific and technological development, highly intelligent society. JEL Classіfіcatіon D83, I25, M53, P46, Z1 Formulas: 0; fig.: 0; tabl.: 1; bibl.: 22.

PEMODELAN JUMLAH WISATAWAN DENGAN AUTOREGRESSIVE INTEGRATED MOVING AVERAGE DAN RECURRENT ARTIFICIAL NEURAL NETWORK

Tourism has become a priority area for Indonesia's economic development. Tourism is expected to be one of the main drivers of Indonesia's economic growth through job and business creation, foreign currency earnings and infrastructure development. In addition, tourism can be used to introduce the identity and culture of the community. Therefore, tourism development will continue and increase through the expansion and utilization of national tourism resources and possibilities. In this study, the number of foreign tourist arrivals will be predicted using the ARIMA model and the Elman-RNN model, given that the pattern of tourist arrivals is not always linear. The data used is the data from the survey results of the Central Statistics Agency. The data is divided into two parts, namely in-sample data and out-sample data. Of the two models, the model of the Elman-RNN network is the best model with the smallest MAPE and RSME values.

Exploring the supportive factors and inhibitors to the growth propensity of women-owned MSMEs in the Gambia

ABSTRACT Women entrepreneurship is increasingly seen as a key to a nation's economic growth and serves as one of the main drivers for growth in emerging economies. However, the understanding of women-owned enterprises’ growth orientation, especially those in developing nations such as the Gambia, remains lacking. This study investigates factors that influence the growth propensity of female-owned businesses in The Gambia’s micro, small, and medium enterprises. An exploratory quantitative study using in-depth interviews was conducted to explore the critical factors affecting women entrepreneurs’ growth orientation. The findings reveal that female entrepreneurs in The Gambia present the capability to grow their businesses. However, their potential to grow is restricted by five factors: resource, socio-cultural, knowledge and skills, motivation, and market and supply chain. This study sheds light on the inhibitors and supporters affecting female-led businesses and provides insights for policymakers to develop better policies to overcome these barriers and encourage women's engagement in entrepreneurship.

Factors Affecting Construction Sector Safety Performance: Exploratory Factor Analysis Evidence from China

Construction industry is a significant contributor to the Chinese economy. The industry has more than 12 million employers with over 250 million employees and creates almost $1.9 trillion worth of structures yearly. Civil construction remains the main driver of growth in China. Basically, a task is developed to meet market demands or demands in a timely fashion. Different possibilities may be thought about in the conceptual drawing board, and also the technical and also financial feasibility of each alternative will be assessed and compared in order to select the very best feasible job. The construction industry in China is forecast to grow by 7.7% in 2021, driven by strong Y-o-Y growth in the first quarter, reflecting the comparison to the previous year's period when construction work was halted across most of the country. Thereafter, the construction industry is expected to record an average annual growth of 4.2% between 2022 and 2025. The industry's growth over the forecast period is expected to be driven by investments on new infrastructure, including investment in the areas of 5G networks, Artificial Intelligence, the Internet of Things, and data centers. According to the government-backed think tank, the China Electronic Information Industry Development, the country is expected to spend CNY10 trillion (US$1.4 trillion) on new infrastructure projects between 2020 and 2025. This study evaluated factors affecting construction sector performance: explanatory factor analysis evidence from China. From the literature reviewed, it was established that entering the Chinese construction market is still seen as exciting but difficult by many foreign contractors and consultants. The study found out that rising material and labor costs, labor woes, increased competition and shrinking profit margins were some of the challenges construction firms in Chin face. The study concludes that the implementation of construction safety laws and the rate of subcontracting are relevant factors affecting construction sector in China, while neither the extent of using temporary workers, nor the availability of resources, nor the level of per capita GDP has any effects. Keywords. Construction sector, safety performance, construction sector, labor costs, increased competition, shrinking profit margins

Does Climate Change Influence Russian Agriculture? Evidence from Panel Data Analysis

Agriculture is one of the economic sectors primarily affected by climate change. This impact is very uneven, especially for countries with large territories. This paper examines the contribution of climate change to the improvement in agricultural productivity in Russia over the past two decades. Several ensembles of fixed effects regressions on yields and gross harvests of grain, fruits, and berries, potato, and vegetables were evaluated for a sample of 77 Russian regions over the 2002–2019 period. In contrast to similar studies of the climate impact on Russian agriculture, we considered a larger set of variables, including both Russian and global climate trends, technological factors, and producer prices. Russian weather trends such as winter softening and increase in summer heat have a significant but opposite effect on yields. An interesting finding is a significant and mostly positive influence of global climatic variables, such as the CO2 concentration, El Niño and La Niña events on both harvests and yields. Although technological factors are the main drivers of growth in Russian agricultural performance over the past 20 years, we found a strong positive effect on yield and gross harvest only for mineral fertilizers. The influence of the other variables is mixed, which is mainly due to data quality and aggregation errors.

Features of Human Resource Management in Large Socio-economic Systems based on Intellectual and Social rating.

In November 2022, the world population surpassed 8 billion people. Population density is increasing, and urbanization is the main driver of density growth. There are associations of territories around the largest cities in different countries. Such associations began to be called mega-regions. Each of the mega-regions is a large system in terms of its features and properties. The elements of the system are citizens, who in general can be united by the concept of human resources. mega-regions compete with each other for high-quality human resources, creating comfortable and attractive living conditions. At the same time, mega-regions use various ways to control and use human resources, as well as ways to invest in the creation of human capital. Today, much attention is paid to the individuality and personality of citizens, since it is precisely the properties of a person that make it possible to produce the main value of the 21st century - information. This creates certain barriers and problems for working with people, as it raises the issue of taboo memes that negatively affect immigration. The article also deals with the issues of metauniverses as surrogates for megaregions. A scheme for the development of human potential is given, as well as a system for assessing the personal quality of individuals.

Determinants of Information and Communication Technology Sector Development in Java Island, 2016-2020

The Information and Communication Technology (ICT) sector is one of the main drivers of economic growth, so the condition of the ICT sector becomes an essential factor in development. The ICT sector consists of the manufacturing and service sectors whose main activities are related to the development, production, commercial and intensive use of ICT. In 2016-2020, six provinces on Java Island became the provinces with the highest IP-ICT scores. Java Island had a GDP share of 59 percent of Indonesia's GDP in 2020. Meanwhile, the ICT sector's GDP share of Indonesia's total GDP was 4.25 percent in 2020. This study aims to analyze factors that affect the development of the ICT sector in Java Island , 2016-2020. The data used is secondary data from Statistics Indonesia. Using the panel data regression, the results show that the number of workers in the ICT sector, the average length of schooling, and internet users had a significant and positive effect on the development of the ICT sector in Java Island in 2016-2020. The level of household consumption for telecommunications has no significant impact on ICT sector development in Java in 2016-2020.

The nexus between tourism and regional real growth: dynamic panel threshold testing

This study analyzes the nexus between tourism and regional real growth for European regions at the Nomenclature of territorial units for statistics (NUTS), level 2, for the period 1995-2019. The study uses the dynamic panel threshold model to analyze complex relations between variables. As the dependent variable, we chose real growth rate of regional gross value added at basic prices by NUTS 2 regions. The independent variable is regional arrivals at tourist accommodation, while the control variables are health, household income, and employment at NUTS 2 regional level. The study found the threshold variable for 95% confidence interval. The marginal effects in the low inflation regime are higher compared to marginal effects in the high inflation regime. The study results support tourism-led growth hypothesis, indicating tourism as a one of the main drivers of regional growth. This research contributes to rare literature in application of dynamic panel threshold model in tourism. As an implication, this study can be used as a methodological approach to analyze the impact of different variables (not only tourism, but also innovations, technology, well-being, etc.) on regional growth, especially in countries with high regional differences, such as the Commonwealth of Independent States (CIS), Latin America, etc.

Phenomics data processing: extracting dose–response curve parameters from high-resolution temperature courses and repeated field-based wheat height measurements

Abstract Temperature is a main driver of plant growth and development. New phenotyping tools enable quantifying the temperature response of hundreds of genotypes. Yet, for field-derived data, temperature response modelling bears flaws and pitfalls concerning the interpretation of derived parameters. In this study, climate data from five growing seasons with differing temperature distributions served as starting point for a growth simulation of wheat stem elongation, based on a four-parametric temperature response function (Wang–Engel) including all cardinal temperatures. In a novel approach, we re-extracted dose–responses from the simulation by combining high-resolution (hours) temperature courses with low-resolution (days) height data. The collection of such data is common in field phenotyping platforms. To take advantage of the lack of supra-optimal temperatures during the stem elongation, simpler (linear and asymptotic) models to predict temperature response parameters were investigated. The asymptotic model extracted the base temperature of growth and the maximum absolute growth rate with high precision, whereas simpler, linear models failed to do so. Additionally, the asymptotic model provided a proxy estimate for the optimum temperature. However, when including seasonally changing cardinal temperatures, the prediction accuracy of the asymptotic model was strongly reduced. In a field study with three winter wheat varieties, significant differences were found for all three asymptotic dose–response curve parameters. We conclude that the asymptotic model based on high-resolution temperature courses is suitable to extract meaningful parameters from field-based data.

The rule of thumb: Private consumption as a driving force of the economic growth of Western Balkan countries

Private consumption is considered one of the main drivers of economic growth in Western Balkan countries. The main aim of this study is to estimate the impact of private consumption on the economic growth of the Western Balkans, including the North Macedonia, Kosovo, Albania, Montenegro, Bosnia and Herzegovina, and Serbia. Housing wealth was even the main driver of total private consumption in the European Union (EU) countries as a whole (Barradas, 2017). Based on an extensive literature review for panel data, this study uses econometric models with fixed effect, random effect, and Hausman-Taylor test. The data are taken from the World Development Indicators by country (The World Bank, n.d.) and cover the period 2010–2019. Based on the Hausman-Taylor test, the model that fits a small sample as in our case is chosen as the fixed effect. The results of the estimator show that a 1% increase in final consumption leads to a 0.43% increase in gross domestic product (GDP) growth and that, on the other hand, a 1% increase in the employment rate increases GDP by 0.11%. The most important domestic factor continues to be private consumption, driven by record levels in the labour market and further strengthening of household purchasing power (Bank of Slovenia, 2020). The study concludes that private consumption is the main driver of economic growth and sustainability in the case of the Western Balkans.

Стратегічне управління промисловими підприємствами в контексті цифрової трансформації: науково-теоретичний підхід

The purpose of the article is to form a scientific and theoretical approach to the strategic management of industrial enterprises in the context of digital transformation in the current turbulent conditions of economic management. The article defines that in the turbulent conditions of the present day, digital technologies are one of the main drivers of growth and technological development of the world economy, economies of countries, and industrial enterprises. The introduction of digital technologies contributes to increasing the competitiveness of various sectors of the economy, creating new business opportunities in terms of connecting to digital global value chains, the emergence of new markets and segments, as well as the accelerated introduction of new digital goods into society. The search, selection, development and adaptation of methods for shaping the strategy of an industrial enterprise in the context of digital transformation is very relevant and in demand, and digital strategy tools are the most important intangible asset of an industrial enterprise. As a result of the study, it is proved that digital transformation contributes to the development of new business models, allows to join forces to create innovation, invest, search for employees, partners, resources and markets. Digital technologies can play a key role in training employees, sharing knowledge, implementing innovative ideas, as well as in the development of socioeconomic spheres of society. An important role in the process of strategic management of industrial enterprises in the context of digital transformation is played by: politics, legal norms, traditions and culture, the achieved level of economic development, the level of education, its own technological power and many other factors.

COVID-19 PANDEMIC: LEGAL ENVIRONMENT AND INFORMAL SECTORS

The coronavirus disease 19 (COVID-19) is a highly transmittable and pathogenic viral infection caused by severe acute respiratory syndrome coronavirus 2 (SARS-COV-2). Coronaviruses are minute in size and contain a single stranded RNA as a nucleic material, size ranging from 26 to 32kbs in length. Recently, these viruses have hit the world caused and disrupted many countries political, social and economic programmes without specific vaccine and cure. Having this vaccine should require a law that would regulate its production, establishment, transportation and application at both municipal and international levels. Municipal law is the domestic law of a state regulating the conduct of individuals and legal entities within it while international law is the rules and principles that govern states in their relations intense. Coronavirus pandemic since existence have spread across the globe and therefore, require international treaty to back the administration of the vaccines to people. Apart from technology, environment is another major factor that is essential for the functioning of and survival of an organization. The environments of an organizations are viewed as being important because they compensate for the operative deficiencies in the core technologies operated by diverse organizations. To a business organization, environment of an organization are those elements, institutions, organizations, systems, legal, et cetera, whose activities and services are essential for the effective performance of the organization but are not subject to the control of the organization. Hence, the organization must adapt or adjust to their demands. Legal environment therefore is one of the external environments under which any business or organization whether formal or informal sector, whether gig economy or job that lasts for long term. We cannot pretend while planning for the future of e-commerce, artificial intelligence, technology and employment, we need to improve the working conditions of both independent workers as well as the regions, formal, as contracted employment is the way that people want to earn a living. The informal sector has been the main driver of employment growth in Nigeria and Africa for decades, absorbing rigid urbanization. This paper therefore x-rays the legal environment under which the informal sector operates with no exceptional condition vis a vis the formal sector. We adopted doctrinal methodology. Our recommendations are that since the environment is external and uncontrollable, measures should be taken by government and the wealthy in the society to ameliorate the plights of people working under the informal sector. Again, there is imperative need to amend the regulatory and legal frameworks environment to consider the informal sector in this competitive business environment of Nigeria and Africa.

Ecological efficiency and its determining factors in an urban agglomeration in China: The Chengdu-Chongqing urban agglomeration

Urban agglomerations are the main driver of economic growth in China. The green development of less developed urban agglomerations, which have greatest potential for future economic growth, is of great importance. Otherwise, the old development path will lead to more energy and environmental issues. Therefore, assessing its level of sustainable development and understanding the determining factors of ecological efficiency is conducive to fulfilling green development goals. Based on the data pertaining to a typical less developed urban agglomeration (Chengdu-Chongqing) from 2003 to 2018, a super slack-based measure model with undesirable outputs is used to measure the ecological efficiency. The results show that the ecological efficiency of the Chengdu-Chongqing urban agglomeration is deteriorating over time. The ecological efficiency of big cities is lower due to the extensive development, and on contrary, the ecological efficiency of nearby small cities is high. The determining factors of the ecological efficiency are also investigated by the spatial panel model. Gross domestic product, social retail consumption, and population size are found to exert a positive influence. A 1% increase in these variables increases the ecological efficiency by 0.008, 0.011, and 0.015, respectively. Discussions are made according to the results and policy implications are proposed pursuant thereto.

THE ROLE OF WINTER PRECIPITATION AS A CLIMATIC DRIVER OF THE SPRING PHENOLOGY OF FIVE CALIFORNIA QUERCUS SPECIES (FAGACEAE)

Understanding the phenological sensitivity of keystone plant species, such as oaks, to climate variables provides a foundation for assessing the impacts of changing climate on ecosystem resilience, biodiversity, and carbon sequestration. This study assessed the responsiveness of bud burst, flowering, and fruiting phenophases of five native California oaks to climate variables using 2012–2019 USA National Phenology Network data, which are contributed by scientists and trained volunteers. Climate data included seasonal measurements of precipitation and maximum and minimum temperatures. Phenophase data for five oak species: Quercus agrifolia Née and Quercus kelloggii Newb. from Quercus section Lobatae (red oaks), Quercus douglasii Hook. & Arn., Quercus garryana Douglas ex Hook., and Quercus lobata Née from Quercus section Quercus (white oaks) were analyzed. The majority of the trees in the study were located in California, although a small number of sites were beyond their normal distribution ranges. No significant differences were found among species for bud burst and fruiting onsets using ANOVA and Tukey HSD tests. However, significant differences were identified between the flowering onsets of the white oaks Quercus lobata and Quercus douglasii and between Quercus lobata and the red oak Quercus agrifolia. Multiple regression models identified the strongest climate predictors of oak phenophase onset as: (1) winter precipitation, (2) mean accumulated precipitation, and (3) maximum winter temperature, so that winter precipitation and temperature have been found to be the main climate drivers of vegetative growth and reproductive potential for these native California oaks.