Economic Development Planning Research Articles

Stakeholders’ Participation in the Creative Economic Development of Cirebon City

This study aims to examine the participation level of stakeholders, identify the dominant stakeholders, and investigate the factors inhibiting stakeholders’ participation in the planning, implementation, and evaluation of creative economic development in Cirebon City. “Creative City” is politically and legally stipulated as the city vision in the regional mid-term development plan 2018-2023 of Cirebon City. As the creative economy is centered around the production, exchanges, and consumption of goods and services from human creativity, Cirebon City is, therefore, a significant case study to investigate how the local government implements participatory processes in developing a creative city.Using qualitative methods, data were collected through a semi-guided interview of 190 respondents from five stakeholders: academics, businesses, communities, government institutions, and media organizations. It was followed by a focus group discussion of 12 key respondents selected purposively from the five stakeholders. With primary and secondary data sources, qualitative data was analyzed through the process of data reduction, data display, and conclusion drawing/verification.This study concluded that stakeholders' participation in all stages of creative economic development in Cirebon was still minimal. The businesses in culinary subsectors as the most dominant stakeholders in the participation processes. The lack of socialization from the municipal government and the limited collaboration amongst the stakeholders were identified as the inhibiting factors of inclusive participation in creative city development. The government needs to accelerate creative economic development through multisectoral policies, including improvement of business knowledge and skills of the local business actors, goods and services’ quality upgrading and assurance, certification and legal assistance, as well as promotion and market expansion

A comparative study of the nexus of natural resource investment in national economies: Effects on cultural communication and economic growth

This article provides a comparative analysis of the complex interplay between cultural exchange, national economic development, and investments in natural resources. This research aims to examine how rising Asian countries' economies have grown as a result of a green economic rebound from 2000 to 2020. The study makes use of the D-H causality test methodology as well as the CCE-MG It assesses the varied impacts of resource investment on employment, GDP growth, and income distribution by looking at case studies and empirical data. It examines how investments in natural resources impact economic pathways and cultural communication dynamics. It sheds light on the complex effects of resource investment on cross-cultural understanding and economic development via case studies and empirical data. It also delves into how resource investments impact economic development plans and how cultural communication patterns interact. The results highlight the need to comprehend these relationships for efficient policymaking and sustainable development.

The Role of Green Sukuk (Islamic Bonds/ Shariah-Compliant Bonds) in Enhancing Indonesia Economic Development Strategy in The New Normal Era

This study aims to determine the significance of Green Sukuk in enhancing Indonesia’s economic development strategy in the new normal era. - The method employed was quantitative with forecasting. Furthermore, the researchers employed the least squares quantitative and historical analogy qualitative techniques. The study’s findings indicate Green Sukuk’s role in boosting Indonesia’s economic development plan in the new normal era. The implications of the study are likely to add to the body of knowledge linked to the function of Green Sukuk in enhancing Indonesia’s economic growth strategy in the new normal era. Increasing the number of issuances and contributions of State Sukuk (Islamic bonds/ shariah-compliant bonds) to APBN funding, with an annual average of roughly 30% of total Government Securities (SBN) financing. To the best of the researchers’ knowledge, this is one of the first attempts to empirically study the function of Sukuk in boosting Indonesia’s economic development strategy in the new normal era. Keywords: Green Sukuk, Development Strategy, Indonesian Economy, and the New Normal Era

USE OF QUANTUM MODELS IN THE STUDY OF RELATIONSHIPS BETWEEN INNOVATIONS AND ECONOMIC DEVELOPMENT

The article analyzes the main aspects of the application of quantum models for the analysis of relationships between innovations and economic growth, which are a promising direction in economic science. The influence of trends and challenges of globalization and accelerated technological innovations, which play a key role in realizing competitive advantages and increasing productivity, is determined; in promoting the sustainable development of the economy. The author defines the dynamics of innovation processes, which causes the need for new approaches, such as the principles of quantum modeling, defines the content of quantum models in global business. In particular, the principles that allow for more accurate modeling of uncertainty and non-linear processes characteristic of innovative activity are considered. The author pays special attention to the use of quantum models for accurate forecasting and planning of economic development, development of effective strategies for scientific research and state policy in the field of innovation. The recommendations are aimed at carrying out a comprehensive analysis and assessment of the impact of quantum technologies on economic indicators of employment, indicators of investment activity and international trade. In further scientific developments, it is expected to improve the comparative analysis of classical and quantum economic models for determining effective approaches to innovation management. A promising direction of scientific research is the development of a methodical tool for optimizing investments in research and R&D to improve the mechanisms of state support for innovative activities. Emphasis is placed on the fact that research results will contribute to the creation of a new generation of economic strategies based on the principles of quantum economics, and will open up new horizons for the growth and development of the world market.

Big data analysis technology in regional economic market planning and enterprise market value prediction

Abstract Market planning for regional economic development is a crucial task connected to stability and systematicness and influences the unique outcomes of regional economic growth. As a result, market planning for regional economic development must be given more weight. There are several issues with regional economies currently developing in many parts of our country. Lack of focus on market planning for regional economic growth results in several flaws in market planning, making it challenging to support sustainable development. The accurate analysis of diverse massive economic datasets has significant research value. The aim of this study is to provide an overview of market planning and regional economic and industrial development, analyze the effects of market planning on regional economic and industrial development, identify issues with market planning and regional economic and industrial development, and suggest solutions. This article employs big data analysis technology to forecast corporate market value and develop regional economic markets. The system is employed to conduct experimental big data analysis within a specific field for an extended period. According to test analysis results, the system’s data analysis accuracy can reach up to 95.8%, which has a promising future for use.

How Could Digital Transformation Help Medium-Sized Enterprises Access Thailand’s New Capital Market Financing (LiVEx) to Support Sustainable Growth in the Digital Economy Era?

In today’s modern era, digital transformation serves as a crucial element for organizations to gain a competitive edge and optimize their operating systems. However, medium-sized enterprises in Thailand face difficulties in accessing capital market financing, despite its significance in promoting the development of small- and medium-sized enterprises according to the 13th National Economic and Social Development Plan. One potential solution to this issue is digital transformation, which can help these enterprises achieve their strategic business objectives and find a reliable source of funding while enhancing their reputation and credibility, thereby contributing to the growth of the economy as a whole. This study utilized a mixed-methods approach to explore how digital transformation can assist medium-sized enterprises in accessing LiVEx, a new capital market for Thai SMEs. We conducted extensive research and interviewed 12 senior executives across three groups, government agencies, LiVEx-listed companies, and social associations, to develop a questionnaire and conceptual model. Data collected from 360 individuals working in medium-sized enterprises in Thailand collected using an online questionnaire were then analyzed, using CFA and SEM techniques to validate the model. Our study emphasizes the importance of digital literacy, digital usage, and digital advocacy in the success of digital transformation in accessing Thai capital market financing. These findings serve as a valuable knowledge repository for future research.

The internal mechanism and impact of digital economy on China's smog pollution: based on the perspective of industrial structure coordination

ABSTRACT This study adopts an industrial structure coordination perspective to elucidate the theoretical mechanism through which digital economy (DE) development influences smog pollution (SP), and employs panel data encompassing 214 cities at the prefecture level and above in China over the period 2010–2019 to empirically examine this relationship. The findings reveal the following: (1) Industrial structure rationalisation (ISR) and advancement (ISA) positively contribute to the nexus between DE and governance in SP. Nevertheless, ISR stands amenable for refinement. (2) Despite regional variations in economic development planning and competitive investment behaviours, DE consistently hampers the SP of adjacent cities, contingent on diverse geographical weights. (3) Augmentation in science and technology expenditure and human capital levels enhances the environmental governance effect of the DE.

Working in the Crisis: Practitioners' perceptions of and responses to the COVID-19 Pandemic

The COVID-19 pandemic was one of many global challenges localities have contended with over the past few decades. In response to such global pressures, economic development practitioners are tasked with safeguarding their localities’ economic and social well-being. But little is known about how these types of shocks and challenges have influenced overall economic development practices and planning. To address this question, we conducted in-depth interviews with thirty-seven local economic development practitioners from Ontario, Canada. We find that practitioners, in their bounded autonomy, push back against global forces such as the COVID-19 pandemic in an attempt to safeguard their localities. Further, the findings show that over the last three years a shift occurred in nearly all parts of local economic development – from greater emphasis on human capital, to changes in what sectors of local economies are favored and targeted, to alterations in the day-to-day work occurring within local economic development offices.

Development of High-Quality Human Resources for Tourism in Quang Binh Province in the Context of International Integration

According to the economic and social development plan with a vision towards 2030, Quang Binh province identifies tourism as a key economic sector. To achieve this goal, alongside its natural and human resource advantages, the high-quality workforce is a crucial factor in determining the development of tourism in Quang Binh. Through the use of analytical and synthesis methods, and historical and logical comparisons, we have conducted research to identify one of the key factors influencing the transformation of the quality of tourism in Quang Binh is the high-quality workforce. From analyzing the role of developing a high-quality workforce, and understanding the achievements, limitations, and challenges posed in the development of a high-quality tourism workforce in Quang Binh today, this article focuses on several solution groups such as: i) strengthening the state's management role in developing high-quality tourism workforce, ii) enhancing the quality of training for high-quality tourism workforce, iii) raising awareness of the role, position, and importance of high-quality workforce in tourism development.

Wisata Pendidikan Agro Terintegrasi: Penyusunan Rencana Induk Desa Dawung, Karanganyar melalui Pendekatan Partisipatif

Based on the Spatial Plan of Karanganyar Regency, Dawung Village is mandated as an agropolitan strategic area for food security or wet agriculture. Besides, it is also a center for processing agricultural food crops and local trade. In contrast, the number of farmers decreases (0.8% per year), increasing the risk in the agricultural sector. On the other hand, this village has tourism potential, Kembang Desa, which is appointed as the leading tourist attraction. Kembang Desa was developed in 2020, and after it officially opened, it was attractive, as can be seen from the visitors number that reached 200 to 500 at the weekend. However, the COVID-19 pandemic has significantly affected the number of visitors, and the village government is facing the operational budget. This situation continues because of many new tourist attractions competitors opened. Hence, economic development and village potential require a reference as a basis for the village government in determining future policies. This community service activity aims to compile a master plan for tourism and economic development in Dawung Village through Integrated Agro Edu Tourism, which focuses on developing agro-tourism integrated with the agricultural system with an tourism education approach. The method used to compile the master plan consists of three stages: socialization to the Village government about the initial design concept. The second stage is Focus Group Discussion (FGD) activities to obtain input regarding potentials, problems, design concepts, and specific needs from partners; the third stage is master plan design finalization. The community service results in a master plan of a Dawung Village hotspot as the guidance for developing local potential so that Dawung Village can be more advanced and competitive.

The Influence of Regional Original Income and General Allocation Funds on Economic Growth with Capital Expenditures as an Intervening Variable

Purpose: The purpose of this research is to explore the relationship between financial sources, public services, and economic growth at the local government level. Specifically, the study aims to investigate how Regional Original Income and General Allocation Fund allocations impact capital expenditure and subsequently influence economic growth. By examining these relationships, the research seeks to provide insights into the effectiveness of financial management strategies employed by local governments in promoting economic development and improving public services. Methods: This study utilizes data from all districts/cities of Bali Province for the period 2015-2020, comprising Regional Original Income, General Allocation Fund, Capital Expenditure, and Economic Growth indicators, totaling 54 data points. A saturated sampling approach, also known as total sampling, is employed to ensure comprehensive coverage of the dataset. The analysis technique involves Structural Equation Modeling (SEM) using the SmartPls 3.2.8 program, allowing for the examination of complex relationships between variables and the assessment of their direct and indirect effects. Results and discussion: The findings of this study reveal several key insights: 1) Regional Original Income positively and significantly influences capital expenditure, indicating that higher revenue generated within regions contributes to increased investment in infrastructure and development projects; 2) General Allocation Fund demonstrates a positive but insignificant effect on capital expenditure, suggesting that while these funds are allocated for public services, they may not directly translate into capital investments; 3) Regional Original Income and General Allocation Fund show negative and insignificant effects on economic growth, implying that other factors may have a stronger influence on overall economic performance; and 4) Capital expenditure exhibits a positive but insignificant effect on economic growth, suggesting that while investment in infrastructure may contribute to economic development, other factors play a more significant role. Implications of the research: The findings of this research have implications for local government policymakers and stakeholders involved in financial management and economic development planning. By understanding the relationships between financial sources, capital expenditure, and economic growth, policymakers can devise more effective strategies for resource allocation and investment prioritization. Additionally, the study highlights the need for comprehensive approaches that consider various factors influencing economic growth beyond financial inputs alone, such as regulatory environments, market conditions, and governance structures. Originality/value: This research contributes to the literature by providing empirical evidence on the relationship between financial sources, public services, and economic growth at the local government level, particularly within the context of Bali Province. By employing Structural Equation Modeling and analyzing a comprehensive dataset, the study offers insights into the nuanced dynamics of financial management and its implications for economic development. Furthermore, the findings underscore the importance of considering multiple factors in the formulation of local government policies aimed at fostering sustainable economic growth and improving public services. Overall, this research adds value to the understanding of local government finance and its role in driving regional development agendas.

Developing Global Interdependencies: Consulting Firms and Nordic Aid in Postcolonial Tanzania's Rural Economic Development

The globalization of developmentalist architecture has become a major topic in architectural history, but less is known about the funding mechanisms and national development policies that supported consulting firms as they competed for contracts in the global South. This article examines the application of the integrated rural development (IRD) approach in postcolonial Tanzania, taking as its point of departure two IRD-based regional economic plans developed for the regions of Mtwara and Lindi that were financed by the Finnish development organization Finnida and prepared by two Finnish consulting firms, Finnplanco and Finconsult. While the Nordic countries actively promoted developmentalist intervention in the late 20th century, the role they played in this context has been overlooked. Attempts to implement these rural economic development plans are relevant to architectural history, even if the implementation failed, because they shed light on the modernization projects promoted by ‘global experts’ worldwide, drawing attention to the long-term dialogue between developmentalist forces and architectural state-making in the global South.

Dynamic role of clean energy and sustainable economic growth in coastal region: Novel observations from China

China's coastal region is the major geographical unit for the future development of China's industrial sector. The transformation of basic structure to high-class development in China's coastal places is a significant tool for promoting the changes related to quality, power and efficiency in regional economic development. In the 21st century, environmental and energy issues have increased worldwide, and challenges related to environmental pollution, energy crises, and ecological imbalances have emerged. To climate change and energy utilization, the sustainable progress of clean energy is the new route of future energy development. Based on China's non-polluting energy growth process in the last ten years, this article explores China's clean/green energy policies and economic growth development plans. Clean energy utilization is crucial for sustainable development in the context of high-quality economic growth and climate change. However, the monetary evolution and carbon emission are not investigated whole from the clean energy aspects. Using Wind energy sources as the acceptable variable, this paper employs threshold regression and impulse functions to assess the energy consumption and economic growth on carbon emission in 30 Chinese provinces over the 2000 to 2020 period. The Deep Belief Network (DBN) model predicts wind energy utilization and efficiency. The results show that economic development and carbon emissions are connected. Further, growth influences promote the offset of carbon emissions. Green innovation alters the nexus of carbon emissions, and China's economy reduces carbon usage. It provides the decision-making policies for clean energy development.

Ending 1990s Law and Development Ideas, Paradox of Path Dependence In Economic Planning Institutions Under Covid-19: SA’s Response

Abstract This paper argues that the COVID-19 pandemic can and should be understood as a form of creative destruction (Schumpeter’s gale), at a hyper level owing to its biological/medical dimension. Therefore, the critical response to such a hyper force is to rethink how institutions administer Public Policy in South Africa (Path Dependency), most importantly economic development planning institutions and Covid-19 responses, in the form of ‘The Economic Reconstruction and Recovery Plan’. It’s the contention of this paper that the reason why Covid-19 continues to impact the South African government’s economic planning ethos is anchored in its developmental orientation, particularly how constitutional legalism has impaired economic development planning. This could impart be due to the unaddressed influences of the initial waves of Law and Development post-1994. The South African experience with the initial waves of Law and Development were muted owing to the problematic nature of the 1994 transition which sought peace at all costs without necessary addressing substantive economic development reform considerations. Therefore, using the policy experiences of Covid-19 and Lee’s, General Theory of Law and Development, particularly the aspects of Development and State Capacity and Political Will, a revision of the South African Constitution will be called on, principally chapter’s 2 and 6 (Bill of Rights) and (Province).

Strategic Orientation on National Security: Nepal's Path to Prosperity and Sustainability

This article provides a distinct examination of Nepal's strategic orientation on national security, intricately dissecting the dynamic interplay between security imperatives, economic prosperity, and sustainability. It will discuss the economic foundations, scrutinize trade policies, investment strategies, and economic development plans, and unravel their role in fostering fiscal resilience and shaping the nation's capacity to navigate external challenges. The environmental factor emerges as a strategic imperative, recognizing the inseparable link between a secure environment and long-term national well-being. The socio-economic dynamics explored in-depth will reveal policies contributing to citizens' well-being and recognizing the population as a strategic asset. The integration of technological innovations is identified as a dynamic force shaping Nepal's national security approach and positioning the nation within the global economic setting. The role of public awareness and informed citizenship is also highlighted in shaping the nation's path. This article unfolds as a comprehensive description that unstitches the layers of complexity defining Nepal's unique path toward a secure, prosperous, and sustainable future.

The silent threat and countermeasures: Navigating the mixture risk of endocrine-disrupting chemicals on pregnancy loss in China

Currently, many countries and regions worldwide face the challenge of declining population growth due to persistently low rates of female reproduction. Since 2017, China's birth rate has hit historic lows and continued to decline, with the death rate now equaling the birth rate. Concerns have emerged regarding the potential impact of environmental contaminants on reproductive health, including pregnancy loss. Endocrine-disrupting chemicals (EDCs) like phthalate esters (PAEs), bisphenol A (BPA), triclosan (TCS), and perfluoroalkyl substances (PFASs) have raised attention due to their adverse effects on biological systems. While China's 14th Five-Year Plan (2021–2025) for national economic and social development included the treatment of emerging pollutants, including EDCs, there are currently no national appraisal standards or regulatory frameworks for EDCs and their mixtures. Addressing the risk of EDC mixtures is an urgent matter that needs consideration from China's perspective in the near future. In this Perspective, we delve into the link between EDC mixture exposure and pregnancy loss in China. Our focus areas include establishing a comprehensive national plan targeting reproductive-aged women across diverse urban and rural areas, understanding common EDC combinations in women and their surrounding environment, exploring the relationship between EDCs and pregnancy loss via epidemiology, and reconsidering the safety of EDCs, particularly in mixtures and low-dose scenarios. We envision that this study could aid in creating preventive strategies and interventions to alleviate potential risks induced by EDC exposure during pregnancy in China.

Cold War “Cultural Safaris”: Canadian Art, Cultural Diplomacy, and the Asian Commonwealth Tour

In 1955, the National Gallery of Canada circulated an exhibition of Canadian art to the “Asian commonwealth”—Pakistan, India, and Ceylon (now Sri Lanka). Developed in tandem with Canada’s involvement in the Colombo Plan for Co-operative Economic Development in South and Southeast Asia, the tour was part of a wide-angled strategy of cultural engagement that, despite its humanitarian trappings, was grounded in Cold War politics. Featuring a small display of relatively unimportant works in venues of limited interest to the National Gallery, the tour nonetheless marks a significant juncture in the development of the Canadian cultural state—a turning point in the relationship between the gallery and Canada’s Department of External Affairs, which in the immediate postwar decades sought to coordinate with the National Gallery in pursuit of an active role in the information brokering and cultural work it identified in the gallery’s promotion of Canadian art abroad. In this article, we position the Asian commonwealth tour as a case study that reveals the inherent tension in the relationship between the cultural and policy spheres of the state that informed Cold War mobilization of the liberal values art was thought to express.

Grappling with governance: Emerging approaches to build community economies

Economic development is evolving, where building the economy was once the largely purview of businesses and governments, increasingly, communities are taking action to build local economies that are more sustainable, equitable and inclusive. As community participation in local economic development increases, new, more collaborative governance models are beginning to emerge. This research leverages a community economies framework to explore the role of non-traditional, community actors in advancing local economic development. Building on the local, rural, and asset-based community development scholarship, this study aims to fill the gap in the literature through an empirical investigation into how one rural community, in Prince Edward County, Ontario, is developing a new governance structure to build a community-led economic development plan. Data for this research was collected through focus groups, key informant interviews and community conversations. Results highlight that when building the local economy, especially in rural communities, it is important to take an assets-first approach; leverage cross-sector partnerships; and experiment with innovative models to drive economic development. This research also illustrates the complexity of developing an alternative governance structure and offers perspectives on navigating the changing field of local economic development.

Population Changes Under the Impact of Industrialization in Vietnam: A Case Study of Binh Duong Province

Population change is a key component of Vietnam's economic development paradigm. However, in each locality, population shifts can be stimulating while also posing hurdles to socioeconomic development programs. This article assesses population changes in Binh Duong province and suggests plans for development and population control. The findings suggest that Binh Duong has a diversified population and is constantly receiving new population classes. Binh Duong's population increased the most rapidly between 1997 and 2023, following a centuries-long steady pace. This is also a time of dramatic demographic change, with the population becoming more multi-ethnic, multi-regional, multinational, and multicultural. Binh Duong's socioeconomic development successes reflect the contributions of all segments of the community, with immigrants playing a significant role. Binh Duong province must develop and implement policies for sustainable population management and development, including the establishment of a population database system linked to economic and social development strategies, the incorporation of population policies into economic, social, and cultural development programs and plans, and the linking of population development and management policies to sustainable population policies.

Reliability of industrial policies in Nepal: An empirical investigation into the role of macroeconomic indicators

This study aims to analyze the reliability of Nepal’s industrial policies, focusing on the effects of macroeconomic variables on implementation and outcomes. This paper assesses Nepal’s industrial policies, emphasizing the need for improvements, export promotion, and human capital development while recognizing the importance of strategic planning and context-specific approaches for economic growth, stability, and development. The analytical and descriptive approaches have been applied to analyze the data by collecting secondary data sources that include official publications, which encompass 47 time series variables from 1974 to 2020. The findings provide mixed evidence for the economic impacts of liberalization, with exports and liberalization driving overall GDP growth. In contrast, other factors like economic openness, tourism, and their relationship with industrial GDP remain statistically insignificant. The paper indicates that remittances and investment have the most substantial impact on GDP, raising it by 1.86 and 1.21 units per unit increase, respectively. Exports have a moderate impact on industrial GDP (0.403 units). Export-oriented industries and tourism lack significant associations with either type of GDP. Liberalization significantly boosted both GDP and industrial GDP, with an increase of 179465.3 and 49595.62 units, respectively. Imports also jumped post-liberalization, driven by higher remittances as 1.215 units per unit increase. This study on industrial policies in developing economies, focusing on Nepal, adds valuable insights. The findings can ensure policymaking, boost economic growth, and strengthen Nepal’s industrial sector.