Perspective Of Economic Growth Research Articles

Migration for Economic Growth: Strategic Approaches. Russia's Case

The issue of international migration has moved to the top of the political agenda in recent years. The heated media debates tend to hide the fact that the phenomenon of modern migration is complex and multifaceted; actually, there are few social issues where popular opinion and the research discourse diverge so sharply. While much of the discussion is focused on the immediate social aspects of migration,both from the perspective of migrants and that of their “hosts”, the issue of the possible longterm economic effects of international migration is elaborated to a much lesser extent. Overall a country-specific analysis of migration should consider four questions: • Is there an economic case for migration? What are the requirements for labor and human capital from the perspective of economic growth (demand) and organic demography (supply)? • Are there pools of human capital in territorial and cultural proximity? • What is the history of the cultural diversity in the society? Did it traditionally see itself as mono-ethnic or multi-ethnic? • What is the long-term government strategy towards migration, and how effective is its institutional support? In the second part of the report this we will analyze the case of modern Russia using this framework. We will demonstrate that Russia clearly has • an economic case for attracting a significant volume of new human capital in order to move the country out of a period of prolonged economic stagnation; • a multi-ethnic and multi-cultural history that dates back at least to the 14th century – if not to the foundation of the early proto-Russian states; • an advantageous position in the regional “market” for human capital, despite being strongly challenged by both regional and global competitors At the same time, Russia currently lacks an informed strategic policy on the issue, which results in a dearth of official institutes of integration. The vacuum is filled with informal institutes. These can be effective in the short-term, but they might pose a challenge to the longer-term goal of creating integrated diversity. Given the growing regional and international competition for human capital, these challenges may result in Russia missing a historic window of opportunity to boost its socio-economic development.

Analysing European economic competitiveness through the prism of economic innovation

ABSTRACTEuropean economic power has considerably diminished since the beginning of the global economic and financial crisis. The present fundamental European economic model i.e. the social-market economy requires high efficiency and technological progress to support high living standards by constantly implementing innovation to stimulate economic competitiveness. Accordingly, not all countries of the European Union have the ability to build social welfare models due to their lower technological readiness and innovation potential. The present paper analyses the European economic competitiveness through the prism of economic innovation. The main goal of this research is to identify the disparities in terms of economic innovation and governance quality across the European Union, these being two of the main pillars of favourable economic growth perspectives. The results reached underline the idea that the past disparities in terms of economic innovation have not been diminished within the period of 2007–2016.

АДАПТАЦИЯ НАСЕЛЕНИЯ К "НОВОЙ ЭКОНОМИЧЕСКОЙ РЕАЛЬНОСТИ"

<p align="justify">Статья посвящена анализу адаптационного поведения населения, складывающегося в период 2015-2017 гг., получивший название новой реальности. Исследованы представления населения о перспективах экономического развития; уровень развития ресурсов, которые могут быть использованы при формировании адаптационных стратегий; собственно адаптационные стратегии и результаты их реализации. Информационной базой послужило мониторинговое исследование Социальное самочувствие населения, проводимое ИНСАП РАНХиГС в виде восьми волн репрезентативных опросов населения ежегодно с выборкой 1600 респондентов в каждой волне. Показано, что население воспринимает сложившуюся экономическую ситуацию без алармизма, но не видит и перспектив ее улучшения. Для большинства адаптация выражается не в активных действиях по восстановлению или улучшению собственного материального статуса, а в привыкании к новым условиям за счет снижения стандартов потребления. Высоким ресурсным потенциалом, позволяющим выстраивать разнообразные адаптационные стратегии, обладает лишь пятая часть населения; у вдвое большей его части ресурсный потенциал низок. Для представителей группы с низким ресурсным потенциалом основной стратегией адаптации стало, помимо сокращения расходов, использование личного подсобного хозяйства. Активные формы адаптации, связанные с реализацией различных ресурсов, характеризуют поведение трети населения. </font>

Social business as an entrepreneurship model in emerging economy

PurposeDespite its immense potentials as a sustainable and innovative means to solve specific social problems, the basic concept of the social business model (SBM) advanced by Professor Muhammad Yunus remains unclear to many. There exists no literature that objectively compares this model from empowerment and economic growth perspectives with other seemingly similar concepts, such as social enterprise, non-governmental organization (NGO) and corporate social responsibility. Although many NGOs have been showing increasing interest towards the adoption of the SBM to minimize social problems sustainably, lack of conceptual clarity of the model limits the scope of its adoption in addressing social issues. The paper aims to discuss these issues.Design/methodology/approachThis study is based on a systematic search, analysis and review of literature. It has made use of narrative synthesis of relevant literature on a diverse range of socially oriented models, frameworks and interventions.FindingsThis study identified five key aspects of social business, namely: business’s mission and outcomes, characteristics, operation, resource utilization and environmental considerations. Based on these five key aspects one may like to infer that unlike other social interventions, the alignment of SBM is specific to empowerment of disadvantaged people leading to sustainable economic growth. Analyzing a range of social business interventions in a developing country, Bangladesh, through the lens five key aspects demonstrates that social business is the most efficient way to sustainably maximize the social benefits and minimize specific social issues poverty of the people affected.Originality/valueThis study discusses the scopes of adopting SBM for the socially responsible organizations for sustainable empowerment and economic growth in emerging economies.

Freedom of Press and Broadcasting Media in England and Bangladesh

Freedom of Press and Broadcasting Media is not alike. All indexes regarding press freedom distinctly show the differences between these two countries. Due to economic growth and social perspective, they are not same. But if we keep the keyword “Democracy” in line, both countries are moving in the same direction. Both are practicing democratic government. Journalistic approach is a way to measure a countries’ democratic state

EUROPEAN CHALLENGES AND PROSPECTS FOR BOSNIA AND HERZEGOVINA

Bosnia and Herzegovina (B&H) belongs to the group of countries of the Western Balkans, which has the status of potential candidate for EU membership. However, to achieve candidate status and full EU membership, it is necessary to carry out complex structural reforms that should ensure convergence towards EU countries, which will be a long and difficult process. The aim of this paper is to point to the specificities of economic and political transformations in BiH in the context of economic changes occurring in the environment and which can significantly affect the EU accession process. This paper gives an overview of the basic economic features of B & H, as well as projections on the movement of certain economic categories in the forthcoming period. An analysis of the position of B & H in the group of countries of the Western Balkans and the perspective of economic growth was conducted.

Illicit activity and money laundering from an economic growth perspective: A model and an application to Colombia

This paper contributes to the economic analysis of illicit activities and money laundering. First, it presents a theoretical model of long-run growth that explicitly considers illicit workers, activities, and income, alongside a licit private sector and a functioning government. Second, it generates estimates of the size of illicit income and provides simulated and econometric estimates of the volume of laundered assets in the Colombian economy. In the model, the licit sector operates in a perfectly competitive environment and produces a good through a standard neoclassical production function. The illicit sector operates in an imperfectly competitive environment and is composed of two different activities: The first activity produces an illicit good that nonetheless is valuable in the market (for example illegal drugs); the second does not add value to the economy but only redistributes wealth (for example robbery, kidnapping, and fraud). The paper provides a series of comparative statics exercises to assess the effects of changes in government efficiency, licit sector productivity, and the demand for illegal drugs. From the model, the analysis derives a set of estimable macroeconometric equations to measure the size of laundered assets in the Colombian economy in the period 1985–2013. The paper assembles a dataset whose key components are estimates of illicit income from drug trafficking and common crime. Illicit incomes increased drastically until 2001, reaching a peak of nearly 12% of gross domestic product and then decreasing to less than 2% by 2013. The decline not only overlaps with a period of high economic growth but also occurs after the implementation of Plan Colombia. The dataset is used to estimate the volume of laundered assets in the economy by applying the Kalman filter for the estimation of unobserved dynamic variables onto the derived macroeconometric equations from the model. The findings show that the volume of laundered assets increased from about 8% of gross domestic product in the mid-1980s to a peak of 14% by 2002, and declined to 8% in 2013.

The features of economic growth in the case of Latvia and Lithuania

Innovation based growth and development is a hot topic in all economies of the world. Openness of mind, openness of businesses and openness of innovation are the key characteristics and success factors of the global world today. Growth and development strategies are becoming smarter transforming economy towards creation of higher added-value products, services and more effective use of resources. Such a high-priority aim may be achieved by R&D activities, which raise the innovation growth and, positively influence productivity, thus providing a platform for sustainable growth and development. Productivity is perceived as the ability to properly use the production factors to create value-added, implement innovations and to maintain the country’s competitiveness. In the macroeconomic researches of different scholars (Solow, Saliola, Seker, Kathuria, Puharts etc.) special attention is given to the quantitative measurement of the various factors of growth and development. These researches have shown that one of the more accurate methods of the productivity measurement is a calculation of total factor productivity (TFP). TFP notion is closely related to the innovation concept as proved by many empirical researches. Industry and firm-level studies concluded that R&D investments to a great extent determine TFP growth. The aim of this research is to calculate the total factor productivity by industry both in Latvia and Lithuania for better understanding of economic growth and development perspectives in those countries.

Imagined people, behaviour and future mobility: Insights from visions of electric vehicles and car clubs in the United Kingdom

This study focuses on imagined futures of personal mobility in the United Kingdom in the context of the need to reduce greenhouse gas emissions from transport. Focusing on two innovations, electric vehicles and car clubs, the study investigates how people, behaviour and mobility are imagined in a range of visioning documents about the future up to 2050, a timeline that is critically important for emission reduction targets. We find that people are imagined primarily as consumers in line with the rational actor paradigm, with many visions focusing on low-carbon vehicles as a sustainability solution. This simple technological substitution vision does not play to the strengths of electric vehicles, and diminishes their transformative potential. There are fewer car club visions; these show less car ownership, but retain high mobility and an economic growth perspective. Our findings support the idea that much future mobility visioning is used to support the status quo, rather than to explore a variety of futures with diverse portrayal of people, behaviour and mobility.

Use of methodology of “underdevelopment whirlpools” with analysis of problems and perspectives of economic growth in Asian countries

PurposeThis paper aims to solve the problem of reduction of disproportions of the global economy and overcoming the underrun of Asian countries from Europe. The author offers a hypothesis that the reason of such underrun is the existence of “underdevelopment whirlpools” in Asian countries. The purpose of this paper is to verify this hypothesis and to determine problems and perspectives of economic growth in Asian countries.Design/methodology/approachAs tools for verification of this hypothesis, the author uses the methodology of analysis of “underdevelopment whirlpools”, aimed at the determination of problems and perspectives of economic growth in countries of Asia; methodology of strengths, weaknesses, opportunities, threats (SWOT) analysis for determination of key factors of economic growth in countries of Asia; instrumentarium of theory of games for the evaluation of effectiveness of the use of various strategies of economic development of Asian countries.FindingsAs a result of the research, the author proves the offered hypothesis and offers – as a solution to the problem of the existence of “underdevelopment whirlpools” in Asian countries – the use of new models of economic development in view of specifics of Asian countries, aimed at transition to new quality of economic growth.Research limitations/implicationsA certain limitation of the conducted research is primarily theoretical substantiation of the necessity for overcoming the “underdevelopment whirlpools” in Asian countries and framework character of the offered recommendations. Therefore, during further research in this sphere, it is expedient to focus the efforts on the development of the system of practical measures for achievement of this purpose.Practical implicationsPractical significance of the author’s conclusions and recommendations consists in the possibility for their use during the development of state economic policy in Asian countries in the interests of overcoming the “underdevelopment whirlpools” and transition to the new quality of economic growth.Originality/valueAt the time of preparation of this paper, the concept “underdevelopment whirlpool” is rather new, and application of methodology of their calculation by the example of Asian countries in the context of analysis of problems and perspectives of economic grows constitutes the basis for originality, scientific value and novelty of the performed research.

A Study on the Optimization of Tax Structure from the Perspective of Economic Growth

The institution supply is an important dimension of China's supply-side reform, in which the reform and optimization of tax system structure is an important measure to promote economic growth. This paper first reviewed the literatures about how the tax structure influences economic growth. Then, this paper used the reform of Chinese tax system as a starting point for the study, measured nearly 20 years of HP and HHI index to reflect the changes in tax structure, and analyzed the difference between the direct tax and the indirect tax on the economic growth. Finally, on the basis of the empirical conclusion of this paper, it put forward the corresponding policy suggestions.

The Difficult Path to a Sustainable Economic Growth

Economic growth since the industrial era has reduced poverty and increased societies’ quality of life, but it also has implied negative environmental effects. There is an urgent need to correct this structural unbalance. The open issue is whether this correction implies sacrificing the perspective of economic growth or if it can be achieved by maintaining economic growth though changing its nature in a more environment oriented direction. In the following I argue that this second strategy is preferable and also more realistic, but it requires an appropriate combination of conditions and policies to be implemented. Environmental regulation, particularly through the use of appropriate price signals correcting negative environmental externalities, is necessary, but not sufficient to promote the required radical environment oriented innovations, particularly to build a low-carbon economy less and less dependent on fossil fuels. Environment oriented innovation policies are required, supported by a system of social norms and by a polycentric system of governance.

Spatial Effect Research on Educational Output and Economic Growth in China

This thesis is to study spatial effect of education output on economic growth through the use of spatial measurement technique. According to the study: there’s the presence of spatial spillover effects in human capital, economic growth, and others; in previous years, human capital depended on mainly the employers with junior school education or below; in recent years, with the reduction of employers with junior school education or below, employers with regular higher education can best promote the economic growth. However, it’s very difficult for human capital with vocational education to promote economic growth, especially in recent years. Therefore, from the perspective of long-term economic growth, China should focus on culturing professional talents and put more resources into the development of vocational education while developing the higher education.

Comments on and Prospects for China's Current Macroeconomic Development: Ten Measures to Guide the Economic New Normal

Since 2015, China's economic performance has initially exhibited characteristics with enhancing quality and increasing efficiency in economic new normal. This article, based on economic operation status since 2015 under the logical framework of economic development with “recognizing the new normal, adapting the new normal, guiding the new normal and exploring the new normal,” aims at commenting on and forecasting for China's current and recent macroeconomic development from the following ten perspectives of economic growth, indigenous innovation, industrial structure, ecological environment, regional coordination, people's livelihood improvement, mixed ownership, financial development and coordination between market and government.

Foreign Direct Investments in Albania, Structure and Dynamics

After the fall of communism regime, Albania has become a host country to foreign direct investments (FDI) from many countries around the world. Albania represents four of the five types of FDI: those which gain access to specific factors of production; those which gain access to disposable production factors; those which gain access to Albanian consumer markets and those which organize joint ventures.Our country widely supports the FDI as there are no high taxation and commerce barriers to gain access to the new markets. Foreign direct investments are a very important segment of the economic activity of a country. In theory and also in practice, there are recognized the effects of FDI. They have brought significant positive effects on the economy. One of the advantages of FDI is that they help in the economic development of the country where is invested.FDI are usually applied in developing countries. During the 90s, they were one of the major external financial sources for most countries that had an economic growth perspective. FDI have been a significant support for some countries which faced economic difficulties.The main aim of this paper is to analyze the theoretical part and the relations of FDI in general.Another aim of this paper is to provide a general picture of FDI in Albania over the years, the main sectors where they are centralised, districts / cities where they are allocated, and so on.At the beginning it is given a theoretical framework, definitions and relations of FDI to various economic aspects.Then it is described the evolution in time and the development of FDI in different levels, for example in the countries of origin, currency in which it is mostly invested, main sectors, etc.There is also a comparison of FDI in Albania in relation to other countries in the region and beyond. We have mentioned here also the factors that affect FDI.

Better pensions, better jobs: status and alternatives toward universal pension coverage in Latin America and the Caribbean

AbstractThis article offers an overview of the current state of labor markets and pension coverage in a wide sample of Latin America and the Caribbean countries, and proposes a series of possible avenues toward universal coverage, not only as an instrument to fight poverty during old age, but also as part of an agenda for increasing formal employment and productivity growth. We conclude that despite perspectives of low economic growth and reduced fiscal space, the region is going through intense demographic and socio-economic changes, which increase the demand for better jobs and provide a real opportunity for initiating the bold reforms in pensions, labor, and taxes needed to achieve universal coverage.

Making Nature Valuable, Not Profitable: Are Payments for Ecosystem Services Suitable for Degrowth?

The growth economy imposes multiple crises on humanity and the natural world. To challenge this economic growth imperative, the degrowth movement emerges as a dissident response. Although within an economic growth perspective, payments for ecosystem services (PES) have also been proposed to attenuate the negative impacts of capitalism, as a redistributive mechanism that is claimed to deliver equitable conservation and sustainability. Degrowth has notably similar concerns, although it is inclined to argue against PES traditional ideologies and practices, which lead conservation to perceive nature within economic growth and market ideologies, diminishing the relationship between humans and nature. In spite of that, PES are becoming a strong trend in environmental governance. This paper attempts to examine whether PES are, and how they could be suitable for degrowth, through the lens of its main sources. In order to integrate PES and degrowth, it could require a PES reconceptualization. Although we assert that PES are not the most appropriate instrument for conservation, we argue that maybe PES could contribute to degrowth as a transition instrument toward fostering better practices. However, it is important to elucidate how they can be used and under which circumstances they could be appropriate.

The Case for Increasing the Supply of Private Placement Securities Lawyers in North Carolina: The Law of Supply and Demand for Securities Lawyers

From a regional economic growth perspective, the supply of attorneys in a region can be seen as a factor of production. The initial supply of attorneys who know how to help a company issue securities is like the initial factor endowment of a region. Regions that possess more of a factor endowment have an economic competitive advantage over regions that have less of that factor endowment.For example, the firms in Silicon Valley have a competitive advantage over the firms in the Research Triangle because the firms in California have lower legal costs to issue securities because there are more securities attorneys in California.In other words, the cost of capital is lower in California, and consequently, the rate of economic growth in California is higher than North Carolina.

Developing a regional steady growth strategy on the basis of tools of economics of quality

The possibilities of spatial development of the regions are considered in terms of creating the steady growth strategy using the tools of economics of quality. The development conditions of Russian regions, features of modernization and perspectives of steady economic growth, along with the influence of economics of quality in its various aspects on the management processes at different levels of communities are analyzed.

Austerity and growth in Central and Eastern Europe: understanding the link through contrasting crisis management in Hungary and Latvia

Within the context of international debates on fiscal consolidation this article examines the experience of the 10 Central and Eastern European countries which joined the EU in 2004 and 2007 (CEE-10) and asks how austerity influenced growth in the region. By looking at the composition of adjustment, the analysis confirms the pre-crisis consensus – from the perspective of economic growth and competitiveness, expenditure-based consolidations are superior to consolidations which are based on raising revenue. The mechanisms behind this outcome are examined by comparing the fiscal consolidations in Latvia and Hungary, which represent two different approaches to fiscal consolidation. While Latvia followed the textbook approach, Hungary aimed to save households from the burden of adjustment and stimulate the economy. Although both achieved substantial improvements in their fiscal balance, competitive gains and dynamic growth appeared only in the case of Latvia. In explaining this outcome, the article emphasises the consequences of unorthodox measures on expectations – while a shared economic philosophy fostered trust and confidence among the major actors in Latvia, growing state intervention and the deterioration of institutional quality increased uncertainty in Hungary and undermined long-term growth prospects.