National Economic Goals Research Articles

Determinants of Economic Growth in Java: Per Capita Expenditures, Population, and Contribution of Indonesian Democracy

The Golden Indonesia Vision 2045 targets sustainable, equitable and inclusive economic development, with an emphasis on the “Sustainable Economic Development” pillar. Java, as Indonesia's strategic region, is the highest contributor to the National Gross Domestic Product (GDP). In the 2019-2023 period, the global economic contraction due to the COVID-19 pandemic and the impact of simultaneous regional elections in Indonesia are challenges. This study examines the effect of per capita expenditure, population, and the Indonesian Democracy Index (IDI) on economic growth in Java. Using secondary data from six provinces and panel data regression analysis, the results show that per capita expenditure has a positive and significant effect on economic growth, while population has a negative and significant effect. IDI shows a positive but statistically insignificant relationship. The findings emphasize the importance of increasing purchasing power, population productivity through education and technology, and strengthening substantive democracy to achieve sustainable economic growth. This research provides insights for policy makers in optimizing regional potential to support Indonesia's national economic growth goals.

TAX BUOYANCY IN MAJOR STATES IN INDIA

In the world of fiscal policy, tax elasticity and buoyancy are crucial factors shaping a country's financial health. Tax elasticity measures how much tax revenue changes when national income shifts, showing how flexible the tax system is naturally, without deliberate policy changes. This flexibility helps stabilize revenue, reducing the need for constant tweaking of tax policies. On the other hand, tax buoyancy reflects how tax revenue responds to economic shifts and intentional changes in tax policies. It acts like a gauge, indicating how effectively taxes adjust to economic ups and downs and how well policy decisions influence revenue. Low buoyancy suggests that there might be flaws in the tax system, prompting policymakers to rethink and improve tax strategies to better fit economic realities. For a country like India, where tax revenues are essential for financing public spending, understanding these metrics is critical. The buoyancy coefficient compares the growth of actual tax revenue to national income growth, providing insights into how successful fiscal policies are in boosting tax revenues. Meanwhile, the elasticity coefficient shows how responsive the tax system is to changes in national income, revealing its potential to generate more revenue as the economy grows. Analyzing these metrics gives policymakers a detailed view of fiscal sustainability and economic stability. It helps them make informed decisions when designing tax policies, ensuring that the government can maximize revenue while allowing the tax system to adapt smoothly to economic changes. A balanced approach that considers both elasticity and buoyancy is key for India's fiscal strategy, ensuring a well-coordinated financial performance that aligns with national economic goals. KEYWORDS :- Tax Buoyancy, Tax Elasticity, Fiscal Policy, Tax Revenue, NITI Aayog, RBI (Reserve Bank of India), VAT (Value Added Tax), GST (Goods and Services Tax).

BRICS economic integration: Prospects and challenges

ABSTRACT Amid the evolving global economic landscape, the BRICS nations (Brazil, Russia, India, China, and South Africa) have emerged as proponents of economic multilateralism, challenging traditional paradigms of economic governance and integration. This article explores the prospects and challenges of economic integration among the BRICS nations, with specific reference to calls for an optimum currency area (OCA). With diverse economic capacities and global aspirations, these countries face significant challenges in policy coordination and structural alignment. This comprehensive literature analysis reveals the potential for and the complexity of achieving economic integration among the BRICS, underscoring the necessity for enhanced cooperation and policy harmonisation. Achieving economic integration, including the establishment of a common currency, requires an understanding of the national and collective economic goals, disparities and challenges. Offering insights into the BRICS’ role in reshaping the global economic system, this analysis contributes to the discourse on economic integration among developing and emerging economies.

Engaging Young People in Occupations Served by Vocational Education: Case Study From Healthcare

Purpose: Globally, countries with both developed and developing economies are struggling to secure sufficient participation in vocational education to generate the range and quantum of skills required for their communities and realising national social and economic goals. In an era of high aspiration, vocational education and the occupations it serves are increasingly seen as being a less than desirable outcome by young people and their parents. Hence, there is a need to identify means by which to inform and engage young people in considering vocational education and the occupations it serves. The case study discussed in this paper is contextualised within the Australian state of Queensland, which, like many other countries is struggling to have a workforce sufficient to meet communities' healthcare needs as its population both grows and ages. Methods: The study data were collected from 1) interviews with healthcare-related stakeholders including health industry representatives, teachers or practitioners, and healthcare providers, 2) focus groups with senior secondary students, and 3) surveys with these participant groups. It provides a descriptive analysis of efforts to secure greater participation by young people in allied health roles, and, in particular, young Australian Indigenous people. Findings: The study participants included those from regional and metropolitan centres and from state and independent schools, and in all of which the focus on engagement was central. Findings indicated that engagement was necessary to advise young people about these occupations, the effective preparation for them, and likely retention in the workforce. Conclusion: This study highlights the need for intentional strategies to engage young people, their parents/guardians and with those efforts likely needing to be organised and enacted at the local level. This requires collaboration and engagement from education, industry, and local communities. Essentially, a systemic approach is required, specifying roles for government, employers, educational systems, and teachers and parents who engage directly with young people. In all, engagement, advice and opportunities locally are all emphasised in the study reported here.

ОСОБЫЕ ЭКОНОМИЧЕСКИЕ ЗОНЫ -ПРОСТРАНСТВО РЕАЛИЗАЦИИ ИДЕЙ ДЛЯ РЕШЕНИЯ ГЛОБАЛЬНЫХ ПРОБЛЕМ

Modern special economic zones are a dynamic instrument of economic development that is constantly evolving in line with changes in the world economy. The author considers in the article such types of SEZ as a «smart city» and eco-industrial park, which meet new requirements of time and help states to attract investments in innovative technologies, solving not only national social and economic development goals, Global problems as well. The features of creation of such types of SEZ in Russia are also analyzed and recommendations for their further development are given.

Правовое обеспечение цифровизации финансового сектора в контексте достижения национальных целей экономического развития России

The subject of the study is the current state of digitalization of the financial sector in the Russian Federation. The purpose of the work is to establish prospects for the development of the regulatory framework for the digitalization of the financial sector in conjunction with activities to ensure the achievement of national economic development goals of the country. The article reveals the debatable nature of the conceptual apparatus reflecting the digital transformation of the economy, characterizes various approaches to the meaningful content of the terminology of digitalization of the financial sector. Based on information sources, the progressive nature of the increase in spending on the development of the digital economy has been determined. The analysis of the degree of digitalization of the financial sector is carried out. The positive dynamics of Russian financial sector organizations switching to the use of software innovations, digital data protection technologies and encryption tools has been established. The priorities of digitalization development in the context of achieving the national goals of economic development of Russia are determined. The urgency of the need to create a multidisciplinary legal framework as a reliable basis for continuing the systemic digital transformation of the financial sector has been confirmed. The regulatory documents in force and in the process of public discussion are considered, intended for the legal regulation of the digitalization process in the financial sector of the economy. The directions of improving the work on the legal support of the financial sector are substantiated: data protection, the introduction of the digital ruble, SupTech, RegTech technologies, etc. Conclusions are drawn on the expediency of intensifying research in order to accumulate substantive information for the development of regulatory tools and operational decision-making in the field of legal regulation of financial sector institutions in conjunction with activities to achieve national goals of economic development of the Russian Federation.

Регуляторное воздействие на финансовый рынок в условиях санкций недружественных государств

The subject of the study is the trends in the development and regulation of the financial market of the Russian Federation in order to achieve national economic development goals under the sanctions of unfriendly states. The purpose of the work is to determine the theoretical and legal foundations of the regulatory impact of sanctions on the financial market based on a comprehensive analysis of the opinions of leading scientists and practitioners, representatives of the Russian judicial system, and the legal experience of other states, to analyze the most and least effective mechanisms for legal regulation of processes occurring in various sectors of the domestic financial market, to substantiate proposals for solving existing problems in the field of financial market regulation both at the national and international levels. The article defines the essence of international economic sanctions. The consequences of their introduction have been revealed. The ways of increasing the efficiency of digitalization of the financial market are substantiated. The most optimal way of forming the unified payment space of the EEC and the CIS has been determined as one of the directions for achieving the national development goals of the Russian Federation in the field of digital transformation. Conclusions are drawn that at present there is a need to correct the current banking legislation, as well as to establish new areas of interaction with countries that continue mutually beneficial economic cooperation with the Russian Federation within the framework of interstate integration associations.

The system of Hungarian sport financing, with special regard to public finance aspects

Sport, as a sector of national strategy, has a key role in the economic and social development of Hungary and in the successful achievement of its national economic and national policy goals. The promotion of sport, sports activities, the creation and putting in place of the conditions for playing sport is – among other things – a public task of the state, which also implies state funding and the management of public funds. Transparency, accountability and integrity are the most important principles for the use of public funds, and should be a key priority for sports funding. Sports financing needs to move from an extensive to an intensive phase, and the introduction, development and widespread use of the latest innovative technologies in the field of sport must be prioritised. Spending and investment in sport, in the sport sector, and the further conscious and thoughtful development of the sport ecosystem can be seen as a multiple return on investment.

Analisis Perkkembangan Industri Manufaktur Indonesia

In Indonesia, the manufacturing industry sector is a sector that is experiencing very rapid development. The manufacturing industry sector is very important for a country's economic development because of its contribution to national economic development goals, especially in the formation of a large GDP and its ability to increase high added value. The research method in this article uses descriptive qualitative analysis techniques. This study was conducted by describing facts, situations or circumstances. The data collected is secondary data, obtained from literature, journals, newspapers, and the Central Bureau of Statistics (BPS). The results of this study are that the development of the manufacturing industry in Indonesia has increased continuously over the last 5 years. Even though all countries were hit by the Covid-19 pandemic, the government quickly adopted policies to continue to improve economic development in Indonesia. Even though it is experiencing a pandemic condition, Indonesia's economic condition is said to be quite good. This is evidenced that in November 2019 Indonesia was in third place in the G20. Then in 2020 BankWord predicts that Indonesia's economic development will still be at a contraction rate of -2.2% and the realization will reach 2.07%. In 2021 the World Bank predicts Indonesia's development in the economic sector will reach 4.4% higher than Japan, Thailand and America.
 Keywords: Industry, Manufacturing, Economy

Structural-hierarchical approach to the investment model of economic growth

The subject of the research is the investment model of economic growth, which in today's Russia is given significant attention at the government level. In a number of scientific studies, investments are interpreted as a significant factor of economic security. In line with this topic, the goal is to form an investment growth model that combines national economic growth goals, investment objectives, growth-driving industries, conditions and regulatory influences into a single structure. The article uses methods and means of structural, economic, causal analysis and predictive statistical estimates. The novelty of the research consists in substantiating and developing an investment model of economic growth in the form of a hierarchical structure that includes five levels: target level, task level, industry, factor and regulatory levels. The possibilities of filling the levels are shown by the example of Russia, taking into account today's sanctions realities. Attention is focused on the manufacturing industry. When filling in the industry level, it is concluded that it is advisable to take into account the index of economic complexity as an additional criterion for identifying industries-locomotives of growth. When filling in the factor level of the model, the dual nature of anti-Russian sanctions is shown, which, along with negative factors, also generate certain business opportunities. When filling out the regulatory level, a number of financial and investment measures are allocated (subsidizing investment projects, state support for loans, tax incentives) that are in demand by Russian business under sanctions. In terms of the country's technological security, industries are cited where dependence on imported components is particularly critical. Priority financial and investment support should be directed to overcoming critical dependence. The results obtained can be useful for information and analytical support of industrial policy. The proposed approach to the investment model of growth will help to streamline the basic components of decision-making within a single structure, taking into account cause-and-effect relationships and sanctions realities.

On the Assumption and Improvement of the Judicial Review Mechanism About the Central Bank

Generally speaking, judicial power and administrative power are two important national public powers in a country. It is precisely because of their respective powers that they need to form a check and balance relationship between them. The central bank, as an institution holding the important decisions of national monetary policy and national economic development, its relationship with the government ais either independent or subordinate to the government. It is a special administrative and financial institution. If some of its decisions and decisions are contrary to the national economic development goals, there should be a review mechanism that can review its decisions and decisions in advance to prevent the harm. The core of judicial review is judicial power, and the decision-making of the central bank belongs to the embodiment of administrative power. The check and balance of judicial power over administrative power is a new trend in new fields. This paper discusses the necessity, degree and scope of judicial review by the central bank, and the necessity of establishing a separate special institution, it provides some ideas for the construction of such a special judicial review institution.

Methodology for determining technical, economic and environmental performance of combined power plants

Consideration of the feasibility of building combined power plants (CPP) based on renewable energy sources (RES) and the choice of parameters, type of equipment, layout, and design solutions is based on an assessment of economic efficiency, the indicator of which is the ratio between the required investments and the achieved technical and economic effect. An accurate assessment of economic efficiency is a rather difficult task since it is necessary to take into account a large number of factors, for example, specific features of design solutions, operating conditions of the CPP depending on the requirements of the consumer, the stochastic nature of the manifestation of energy resources, the possible mode of operation of the CPP for the needs of individual consumers and others. An approach based on the minimum cost criteria has been widely used for the economic justification of the objects under construction for a long time. In rigidly centralized economic management, such an approach based on ensuring optimal construction planning played an important role in increasing the scientific validity of economic decisions. It proceeded from the global and national economic goals of economic development. In the conditions of a free market economy, a method of evaluating the effectiveness of taking into account all the main features of it is necessary.

Achieving sustainability through reducing risks during architecture design process: a lean management perspective

The construction industry, as one of the largest industries in the world, plays a critical role in achieving national and international social and economic sustainable development goals. Socially, it is concerned with delivering long-term projects that turn client and end-user requirements into designs that specify technical aspects, functional specific requirements, and standards of quality. Economically, the construction industry contributes to a country’s gross domestic product (GDP) by creating jobs and providing the country’s infrastructure. the construction industry’s nature is more vulnerable than other industries. This is believed to be due to the complex and dynamic nature of construction projects, as well as the involvement of a large number of participants and organisations with varying goals and priorities. The architectural design process is a crucial stage in the life cycle of a construction project. This is due to the fact that decisions made during this phase have an impact on the project throughout its life cycle. Failure to consider risk factors during this phase will have an impact on the project’s sustainability. Although Lean Management has been successfully applied in many sectors of the construction industry, its application in the design process has received far less attention than in construction literature. Accordingly, this research aims to investigate the role of lean management towards achieving sustainability through reducing risks during the architectural design process.

The Impact of the Construction Industry on the Social and Economic Development of Territories

The article’s objective is to show the results of an analysis of the relationship between the construction industry and social and economic development of territories. Construction projects have great potential to promote social and economic development as drivers of growth. The construction industry is a basic and diversified sector of the economy, which involves a wide range of stakeholders and has developed links with other areas of activity. The industry creates investment opportunities in related sectors and is vital to achieving national social and economic goals. This research is devoted to the study of the state of the construction industry as a key indicator of the level of development and efficiency of modernization processes in the economy of the regions. The article formulates conclusions and offers guidelines for the development of the construction industry as a factor in economic growth.
 It is concluded that the current state of the construction industry is of paramount importance, which indicates the well-being, health and quality of life of citizens, is the basis of economic growth of any country, and therefore affects the role of each sector at all levels of the economy. The construction sector has a direct impact on the social and economic development of money circulation, so the lack of proper construction infrastructure leads to an underdeveloped economy, low living standards and unbalanced income distribution, which are factors contributing to the country's economic decline. Effective management of the construction sector leads to improved quality of life, including the promotion of tourism, a sustainable environment, money circulation and job creation across the country.

Cross-Cutting Lessons Learned During the COVID-19 Pandemic-the Walter Reed Army Institute of Research Experience.

ABSTRACTIntroductionAt the start of the coronavirus disease 2019 (COVID-19) pandemic, Walter Reed Army Institute of Research (WRAIR) mobilized to rapidly conduct medical research to detect, prevent, and treat the disease in order to minimize the impact of the pandemic on the health and readiness of U.S. Forces. WRAIR’s major efforts included the development of the Department of Defense (DoD) COVID-19 vaccine candidate, researching novel drug therapies and monoclonal antibodies, refining and scaling-up diagnostic capabilities, evaluating the impact of viral diversity, assessing the behavioral health of Soldiers, supporting U.S. DoD operational forces overseas, and providing myriad assistance to allied nations. WRAIR personnel have also filled key roles within the whole of government response to the pandemic. WRAIR had to overcome major pandemic-related operational challenges in order to quickly execute a multimillion-dollar portfolio of COVID-19 research. Consequently, the organization learned lessons that could benefit other leaders of medical research organizations preparing for the next pandemic.Materials and MethodsWe identified lessons learned using a qualitative thematic analysis of 76 observation/recommendation pairs from across the organization. These lessons learned were organized under the Army’s four pillars of readiness (staffing, training, equipping, and leadership development). To this framework, we added organizing and leading to best capture our experiences within the context of pandemic response.ResultsThe major lessons learned for organizing were: (1) the pandemic created a need to rapidly pivot to new scientific priorities; (2) necessary health and safety precautions disrupted the flow of normal science and put programs at risk of missing milestones; (3) relationships with partners and allies facilitated medical diplomacy and advancement of U.S. national military and economic goals; and (4) a successful response required interoperability within and across multiple organizations. For equipping: (1) existing infrastructure lacked sufficient capacity and technical capability to allow immediate countermeasure development; (2) critical supply chains were strained; and (3) critical information system function and capacity were suddenly insufficient under maximum remote work. For staffing and training: (1) successful telework required rapid shifts in management, engagement, and accountability methods; and (2) organizational policies and processes had to adapt quickly to support remote staffing. For leading and leadership development (1) engaged, hopeful, and empathetic leadership made a difference; and (2) the workforce benefitted from concerted leadership communication that created a shared understanding of shifting priorities as well as new processes and procedures.ConclusionsAn effective pandemic response requires comprehensive institutional preparedness that facilitates flexibility and surge capacity. The single most important action leaders of medical research organizations can take to prepare for the next pandemic is to develop a quick-reaction force that would activate under prespecified criteria to manage reprioritization of all science and support activities to address pandemic response priorities at the velocity of relevance.

Understanding zero deforestation and the High Carbon Stock Approach in a highly forested tropical country

“Zero deforestation” commitments are pledges by companies to avoid deforestation when producing palm oil. Zero deforestation can be implemented using the High Carbon Stock Approach (HCSA), a tool that distinguishes forests from degraded land which can be developed. In highly forested countries like Gabon, zero deforestation may conflict with national economic goals involving palm oil and other agricultural commodities. We investigated perspectives of stakeholders in Gabon about zero deforestation and the HCSA using Critical Systems Heuristics, a systems thinking methodology. In 25 interviews with government, NGOs, companies, and research institutions, and two focus groups with rural communities, we identified three contrasting perspectives on forest conservation and agro-industrial development: international, national, and local. Zero deforestation represents an international perspective that marginalises issues from a national perspective. This may produce unintended consequences that undermine the legitimacy of zero deforestation, including conversion of Gabon’s savannahs and disincentives for sustainable business. From a local perspective, zero deforestation is embedded in an agro-industrial vision that may marginalise value judgements concerning forests and traditional livelihoods. Gabon’s National Land Use Plan could help reconcile the three perspectives but requires recognition by international standards. Adapting the HCSA to Gabon’s context should also be considered to promote legitimacy. Research is required to ensure proposed institutional arrangements deliver equitable multi-stakeholder participation in land-use planning. Gabon’s case shows the applicability of zero deforestation to all highly forested countries cannot be assumed. Improved international understanding of national contexts, and flexibility in applying “zero deforestation”, is important for designing effective and equitable international standards for sustainable agricultural production.

Türkiye de Teknoparklar ve İktisadi Performanslarının Artırılması

One of the most important components of the activities carried out to develop technology and adapt it to the economic structure in the world and in Turkey is technology development zones (Technopark). Examining the economic performance of technoparks in order to increase the competitive power of the country's economy and solving the emerging problem areas is a long- term strategic economic goal. In order to create policies that will serve this goal, the development areas of the technoparks in a certain period were examined and since 2001 by observing companies working in these regions, academic entrepreneurs, the total number of projects produced and the direction of changes in export quantities and patent registration, the level of technoparks in achieving national economic targets has been determined. In this study, the changes in the organizational model, the development of the potential of cooperation with universities, the implementation of an effective financing model, the improvement of the efficiency of incentive and support policies implemented by the state and policy elements are discussed in order for technoparks, which are at the center of the production and commercialization of knowledge, to take a central role in achieving national economic goals.

Analyzing spillover effects of development of Asian highway on regional growth of Northeast Asian countries

AbstractWe develop a multinational multiregional computable general equilibrium (MMCGE) model to analyze the economic impacts of connecting two missing links on Asian Highway Route 1 (AH1) in 20 Northeast Asian regions. The major sources of economic benefits from the completion of two cross‐border transportation networks connecting Japan and China via the Korean peninsula are travel time (cost) reductions and decreased transportation rate. These variables are major shocks to the model, which identifies wider economic benefits through the supply and demand linkages among economic agents in these nations. In terms of the spillover effects on the 20 regions, the best alternative among the three proposed development projects is the redevelopment and operation of the North Korea Highway between South Korea and China. The development of the AH1 section from Tokyo, Japan to Dongbei, in Northeast China, has a synergy effect on the Chinese economy, generating 0.538% GDP growth. Our simulation of the model provides public agents and stockholders with analytical and strategic insights into the investment efficiency, effectiveness, and priority level of the proposed highway project in terms of national and regional economic goals.

Comparative assessment of the level of financial and economic security of regions in the Volga Federal District: Studying the interregional differentiation

Subject. Economic security issues are recognized as the country's priority. The existence of interregional differentiation poses a risk to the achievement of national sustainable economic development goals. Objectives. The study aims to underpin the fundamental role of financial and economic security, being the key element of economic security in overcoming the inter-regional territorial imbalance. Methods. The study employs general scientific methods, including the methods of systems analysis, comparative analysis, logical, and deductive analysis. Results. I use the case of the Volga Federal District regions, to calculate indicators, characterizing the differentiation, based on the components of financial and economic security. For this purpose, I include the volume of gross regional product per capita, the amount of investment in fixed capital per capita, the number of employed in the economy, the income of consolidated budgets of the subjects of the Russian Federation, the retail turnover per capita, and the volume of fee-based services rendered to the population. The paper clarifies the concept of financial and economic security through the terminological analysis and highlighting various features. Conclusions. The analysis revealed uneven growth in security indicators and, as a result, threats to balanced sustainable development of the regional socio-economic system. A qualitatively new approach to economic policy is required. It should combine recent scientific and technological developments and efficient use of human potential.

Variations in the determinants of regional development disparities in rural China

The presence of persistent regional development disparities in rural China has become one of the most important concerns about the country's further sustainable development. As the key engine driving the rural economy, rural industrial development plays a dominant role in understanding rural regional development disparities. This study utilizes a provincial panel dataset to examine the determinants of industrial development in rural China over the period 1992–2014. The analysis compares rural output growth and export growth as indicators of rural industrial development, and identifies significant regional variations in the determinants of these indicators across the three main regions of the country. The results suggest that domestic capital investment is the most important cause of regional rural output growth disparities, while FDI is the main reason for rising regional disparities in export growth. A strong self-reinforcing effect in output growth is identified for the Eastern region, which has generated faster economic growth compared to the other regions. There exists a regional divergence in export growth, accelerating the regional export disparity between the three regions. Based on the findings of this study, we argue that, to reduce regional development disparities, the formulation of policies to promote national economic goals should take explicit account of the regional context in which those policies operate.