Economic Growth Potential Research Articles

Business Process Improvement of Outpatient Unit of Type B Private General Hospital in Jakarta

Health is one of the factors in economic development and growth. The higher the quality of health, the greater the potential for economic growth and prosperity over the long term. Some important indicators to illustrate the level of health of a country are health expenditure, infant mortality rate, and life expectancy. The average health expenditure of urban residents is higher than that of rural residents. As one of the components of health expenditure, outpatient treatment was identified as one of the largest constituent components, especially for urban areas such as DKI Jakarta Province. Along with the increasing demand for outpatient services in private public hospitals in Jakarta, there is potential of the increasing end-to-end process service quality problems such as queue length and process bottlenecks. The objectives of this study include evaluating the As-Is outpatient service process, analyzing the effectiveness of the outpatient service process against potential queuing problems, analyzing the root of the problem using a Business Process Management approach that uses Business Process Model and Notation (BPMN) and Value Stream Mapping. The results of the analysis on the To-Be process model show that there is potential for time efficiency in the outpatient service process that can improve overall hospital performance.

Optimal Utilization of Biochar, Polyacrylamide, and Straw Fiber for Subgrade Stabilization of Forest Roads

Subgrade stabilization is crucial for forest road construction, especially in Northeast China and the Russian Far East, with great economic growth potential. This study explored a novel and green solution of integrating biochar (BC), polyacrylamide (PAM), and straw fiber (SF) in the form of a ternary composite for stabilizing forest subgrade soil in cold regions. Using central composite design-based response surface methodology, the optimal mix ratio design was obtained, and the composite stabilizer was designated as BPS. Afterward, the stabilizing performance of BPS was studied by conducting an unconfined compression strength (UCS) test. The results showed that the optimum composition of BC:PAM:SF stood at 81:9:10. The UCS and deformation modulus with 3% BPS at 28 days reached 565.42 kPa and 17.24 MPa, respectively, which were 3.36 and 6.05 times higher than those of the untreated samples. The BPS-treated soil also possessed better resistance to freeze–thaw cycles. The freezing–thawing-induced loss ratio of strength was 49.3% lower than that of natural soil. Moreover, empirical models for the UCS of BPS-stabilized soil, as well as its relationships with the modulus, were established and validated by data in the literature. Finally, the “filling, cementing, and reinforcing” stabilization mechanism of BPS was elucidated by scanning electron microscopy analysis.

ENSURING THE OPENNESS OF UKRAINIAN CITIES IN THE INFORMATION ECONOMY: CURRENT REALITIES AND FORECAST SCENARIOS

The article considers the problem of ensuring the openness of cities in the conditions of the information economy. The works of Ukrainian scientists regarding the impact of the information economy on the process of ensuring the openness of cities are analyzed. Three scenarios for ensuring the openness of cities are outlined: the negative one is based on low evaluations of ensuring the openness of the city in combination with unfavorable external factors and a slowdown in the pace of key development indicators; basic, based on the most likely development trends and the existing socio-spatial and socio-political context of the model of ensuring the openness of the city; positive, which outlines the city as an open platform where there is a synergy of actions in the paradigm of "government-business-population" relations and which is determined by the optimistic dynamics of indicators on the way to achieving common goals and objectives of the city's development in various spheres. It is proven that the structural vision of the concept of a modern city should include the following concepts: compliance with the policy of open data; adherence to a participatory approach in the development of concepts, strategic, tactical plans and forecasts of the city's development with an orientation towards a vision of the post-war recovery scenario agreed at all levels; the priority of innovative and informational progress in the organization of the urban environment and ensuring the life of the city; taking into account and adapting the practices of world experience in matters of ensuring inclusiveness, resilience, forming digital infrastructure, innovative ecosystem and security; ensuring a balance between the processes of ensuring openness, confidentiality and security of the city. Attention was drawn to the need for the synergy of the concepts of the information economy and the openness of cities, which will enable the activation and realization of the existing potential of economic growth, the spread of innovations, ensuring inclusiveness, stability and sustainable development of cities.

Total Debt Service and Economic Growth in Nigeria: The Empirical Nexus

This study examines the relationship between debt service and economic growth in Nigeria in the period 1990-2022, utilizing time series data from the World Development Indicator and CBN Statistical Bulletin. The issue of debt servicing has become difficult for developing countries like Nigeria, and has not only stifle economic growth, but also increased the rate of poverty and unemployment in these countries. The study explores the empirical nexus between total debt service and economic growth in Nigeria, employing GDP growth rate as the dependent variable, while the explanatory variables involved; are total debt serving, inflation rate and capital expenditure. The variables were estimated with autoregressive distributed lag (ARDL) method, among other, after the stationarity tests conducted on them Indicate that the variables were of mixed integration. Evidence suggesting a long-term equilibrium relationship among the variables was also established given the cointegration result. The ARDL results reveal that the inflation rate has an inverse and significant impact on GDP growth. Total Debt services variable also exhibited a similar impact on GDP growth. However, the results indicated that capital expenditure variable has a direct and significant impact on GDP growth. Based on the findings, this study recommends that the Nigerian government should implement robust monetary policies aimed at controlling inflation and revisit its debt management strategy to ensure sustainability. It is also recommended that the government should not only increase capital expenditure but also ensure that these investments are directed towards sectors with the highest economic growth potentials. Keywords: Debt service, economic growth, inflation, capital expenditure and GDP growth

Total Debt Service and Economic Growth in Nigeria: The Empirical Nexus

This study examines the relationship between debt service and economic growth in Nigeria in the period 1990-2022, utilizing time series data from the World Development Indicator and CBN Statistical Bulletin. The issue of debt servicing has become difficult for developing countries like Nigeria, and has not only stifle economic growth, but also increased the rate of poverty and unemployment in these countries. The study explores the empirical nexus between total debt service and economic growth in Nigeria, employing GDP growth rate as the dependent variable, while the explanatory variables involved; are total debt serving, inflation rate and capital expenditure. The variables were estimated with autoregressive distributed lag (ARDL) method, among other, after the stationarity tests conducted on them Indicate that the variables were of mixed integration. Evidence suggesting a long-term equilibrium relationship among the variables was also established given the cointegration result. The ARDL results reveal that the inflation rate has an inverse and significant impact on GDP growth. Total Debt services variable also exhibited a similar impact on GDP growth. However, the results indicated that capital expenditure variable has a direct and significant impact on GDP growth. Based on the findings, this study recommends that the Nigerian government should implement robust monetary policies aimed at controlling inflation and revisit its debt management strategy to ensure sustainability. It is also recommended that the government should not only increase capital expenditure but also ensure that these investments are directed towards sectors with the highest economic growth potentials. Keywords: Debt service, economic growth, inflation, capital expenditure and GDP growth

Household energy use and barriers in clean transition in the Tibetan Plateau

The inefficient combustion of traditional biomass fuels in the Tibetan Plateau, the world’s highest region, impacts both local ecosystems and global climate change despite the substantial renewable energy potential and ongoing economic growth of the area. However, the utilization of clean household energy sources and the enablers supporting their sustained use in this region remain underexplored. Through the regional household survey and fuel-weighing campaign, we observed that clean modern energy sources, such as gas and electricity, were used for over 85% of the year in urban areas but only 25% in rural areas. Approximately 3.98 million residents still predominantly rely on traditional solid fuels for daily cooking and/or heating. A substantial energy inequality was identified, with Gini coefficients of 0.65 and 0.55 for cooking and heating, respectively. Despite the disparity in clean energy adoption across income groups being relatively small, the regional utilization of clean energy is severely constrained by limited accessibility and affordability. This has minimized the impact of household characteristics, such as gender, age, and education level, and diminished the effect of rising incomes on accelerating clean cooking practices. The findings highlight the urgent need for targeted residential energy interventions and incentives to promote a clean energy transition in the Tibetan Plateau, as achieving universal clean energy access by 2030 is unlikely without significant efforts.

Role of innovation culture and post-Soviet mindset as factors determining speed of economic development in a small open economy: Case of Latvia

This research seeks to identify the value of a few common factors determining the speed of economic growth in Baltic states and analyzes their impact in detail on Latvia’s lagging. Latvia’s economic starting point after regaining independence because of the collapse of the Soviet Union was at least comparable to its neighbors. Still, after the implementation of liberal reforms towards a free market’ economy and 20 years of operation as an EU full member, Latvia is lagging in growth, prosperity, and innovation. Within the analysis, this scientific paper pays special attention to the three less discussed factors, namely, the impact of post-Soviet mind-set effects as a part of local innovation culture, lasting since regaining independence in 1991; the importance of the availability of talent pull, its density, diversity, and accessibility; and readiness and capability to capture external knowledge and technology adoption. The overall approach is the systemic assessment of the national innovation system and/or innovation ecosystem, trying to understand the differences between these two models. Research is performed by analysis of the performance of the local innovation ecosystem in connection with export- and Foreign Direct Investment (FDI) policies. The authors present a novel method for visually representing economic growth and its application in analyzing process development within transitional economic nations. The study uses an analytical and synthetical literature review. It offers a new GDP data visualization method useful for monitoring economic development and forecasting potential economic crises—the outcomes from aggregative literature analysis in a consolidated concept are provided for required talent policy proposals. The post-Soviet mindset is seen as a heritage and devious underdog that has left incredibly diverse consequences on today’s society, power structures, economic growth potential, and the emergence of healthy, well-managed, and sustainable innovation ecosystems. The post-Soviet mindset is a seemingly hidden and, at the same time, an intriguing factor that has a significant impact on the desire to make and implement the right decisions related to innovation, education, and other policies promoting business development. The key outcome of the article is that sociocultural aspects and differences in innovation culture led to a slow-down of Latvia’s economic growth compared to Estonia’s and Lithuania’s slightly more successful economic reforms.

Breaking barriers: The impact of girls’ education on poverty eradication in northern Nigeria – A Focus on Sokoto State

This research explores the critical role of girls' education in alleviating poverty in Sokoto State, Nigeria. It highlights the significant gender disparities in educational access, driven by cultural norms that prioritize boys' education, which impede both individual potential and broader economic growth. The research underscores that educated women contribute to workforce participation and family income, thereby fostering community development and reducing poverty. Despite some progress, challenges such as socio-cultural attitudes, inadequate infrastructure, and economic constraints persist, necessitating a multi-faceted approach involving policy reforms and community engagement. The study employs a mixed-methods methodology, revealing that while enrolment rates have improved, gender inequities remain pronounced. It advocates for targeted interventions and community involvement to shift perceptions and enhance girls' educational opportunities, ultimately aiming for sustainable development goals in Northern Nigeria.

Expenditure Rules: Limiting the Level or the Variation of Public Expenditure?

The main goal of the first-generation expenditure rules was to ensure fiscal discipline: preserving a sound fiscal framework and public debt sustainability. Regarding this goal, analytically as well as empirically, limiting the share of public expenditure in GDP would be more appropriate in case of weak potential economic growth or if the public expenditure-to-GDP ratio is high. On the contrary, limiting the variation of public expenditure would be more appropriate for countries with high potential economic growth or with a weak public expenditure-to-GDP ratio. The second goal of expenditure rules is to contribute to sustaining economic activity. Regarding this goal, limiting the level of public expenditure appears as more favorable than limiting the variation of public expenditure. Indeed, a rule in terms of variation could hamper economic growth, especially for countries with a high public expenditure-to-GDP ratio.

The impact of digital transformation on ESG performance

This paper constructs an analytical framework of digital transformation affecting enterprise ESG performance based on the investment perspective. And empirical analyses are conducted using firm-level panel data of Chinese A-share listed companies from 2009 to 2020 in the China's Stock Markets. It is found that digital transformation significantly improves enterprise ESG performance. Digital transformation improves enterprise ESG performance by enhancing risk-taking capacity, mitigating agency conflicts, and suppressing management overconfidence. Heterogeneity analyses show that the effects of digital transformation on capital investment efficiency and firms' ESG performance are more pronounced among firms in mature and declining stages. Digital transformation has a significant impact on capital investment efficiency and corporate ESG performance in both technology-intensive and capital-intensive firms. These findings are crucial for understanding the key role of digital transformation in shaping long-term economic growth potential and sustainability from an investment perspective.

The Alarming Exodus of Nigerian Professionals: The Devastating Consequences of Human Capital Flight and Migration on Nigeria's Economic Development

Purpose: This study rigorously investigates the phenomenon of human capital flight and migration in Nigeria, emphasizing the alarming exodus of skilled professionals and its profound implications for the nation's economic development. By contextualizing brain drain within the broader landscape of labour mobility, this work seeks to elucidate the factors driving the migration of educated individuals, particularly in critical sectors such as healthcare, education, and technology. Materials and Methods: Utilizing a mixed-methods approach, this research synthesizes qualitative data from academic literature, policy documents, and empirical studies, alongside quantitative analysis drawn from migration statistics and socioeconomic metrics. This robust methodological framework supports a comprehensive exploration of the interplay between migration, brain drain, and national development, facilitating a deeper understanding of the ramifications of skilled labour loss. Findings: The findings indicate that Nigeria's alarming exodus of professionals is intricately linked to a confluence of factors, including systemic corruption, deteriorating infrastructure, and limited employment prospects. This human capital flight significantly undermines the quality and accessibility of essential services in critical sectors, leading to substantial socio-economic disparities. Consequently, the loss of skilled labour constrains Nigeria's competitive edge and stunts its economic resilience and growth potential. Implications to Theory, Practice and Policy: This inquiry extends beyond descriptive analysis to propose a nuanced framework for understanding the theoretical implications of human capital flight and migration in developing economies. It underscores the urgent need for policymakers to undertake comprehensive strategies that address the root causes of this phenomenon, fostering a conducive environment that retains talent while enhancing human capital investment and innovation capacity.

‘The assisting hand’ or ‘the grabbing hand’: experimental evidence from PPP investments in the implementation of official rotation systems

In the context of uneven and insufficient social development, examining the relationship between the official rotation system and the quality of government services offers an effective guide to addressing government misconduct and reducing wealth disparities. This study employs a public goods game experiment to simulate the investment scenario of Public-Private Partnership (PPP) projects, focusing on three pivotal questions: Firstly, do the ‘assisting hand’ and the ‘grabbing hand’ of officials differ between developed and underdeveloped regions? Secondly, can the interregional rotation system enhance the ‘assisting hand’ and weaken the ‘grabbing hand’ in both areas? Lastly, can political tournaments more effectively alleviate the issue of ‘government misconduct’? The experimental results reveal: Firstly, low economic growth potential limits the ‘assisting hand’ of officials while fostering the ‘grabbing hand’; secondly, the interregional rotation system strengthens the ‘assisting hand’ in underdeveloped areas but weakens it in developed regions; finally, compared to the interregional rotation system, the tournament system reinforces the ‘assisting hand’ in developed regions. These findings provide micro-level insights into the relationship between official behavior and regional characteristics, and offer significant implications for the reform of governance policies.

War and Economic Growth: What Can Modern RUSSIA Learn From the 20th Century?

After February 2022, the growth of military expenditures and trade sanctions of unfriendly countries were the main factors determining the economic development of the Russian Federation. These factors are nothing new in the world and Russian history. They are typical economic manifestations of military conflicts. The accumulated historical experience, if properly used and correctly interpreted, can help to evaluate the current state of the Russian economy and predict its future. In this context, this article considers the two largest world conflicts (the First and Second World Wars) as well as five major military conflicts of the 20th century in which our country took part. The analyzed experience has identified six major factors. The presence or absence of these factors determines the potential economic growth of a belligerent state. With regard to the presence of these factors, the current economic situation in Russia has been analyzed. The authors have come to the conclusion that there are no prospects for economic growth in modern Russia. Besides, they have justified the need for a structural reorientation of GDP towards increased military and investment spending at the expense of reduced consumption by the population.

Advocating ‘eco-village’ for sustainable development: The dayalbagh way of life

<p class="MsoNormal" style="line-height: 120%; layout-grid-mode: char; mso-layout-grid-align: none; punctuation-wrap: simple; margin: 12.0pt 0cm 6.0pt 0cm;"><span lang="EN-US" style="font-size: 10.0pt; line-height: 120%; mso-fareast-font-family: 'Times New Roman'; color: black; mso-themecolor: text1; mso-font-kerning: 0pt; mso-fareast-language: JA;">India as a country has its identity deeply rooted in its rural culture. Whether we talk about agriculture, tradition, food, art, or music, the rural society of India has always proven itself a representation towards the national front. The Dayalbagh society in Agra city of Uttar Pradesh (India) is engaged to strengthen the nation’s roots through education, technology, sustainability, management, innovation, research, and most importantly, selfless service. The major potential for economic growth in India lies in the development of its rural areas. This article is an attempt to spot the outlook of a society that has its inception for the past 100 years and is continuously making efforts to glorify the message of sustainable development, environmental protection, and rural development through its effective plans in designing an eco-village-based society. Based on the narrative description approach, this article highlights the efforts and strategies employed by the Dayalbagh society to promote sustainable development, environmental protection, and rural development. The focus is on how society integrates education, technology, sustainability, management, innovation, research, and selfless service to achieve these goals. The Dayalbagh society’s initiatives have taken into consideration economic, social, environmental, and human aspects, demonstrating significant contributions towards sustainable development and rural empowerment. The philosophy and successful practices of the Dayalbagh society can inspire and guide others in developing action plans for effective environmental protection and sustainable rural development. By adopting such approaches, other organizations, decision-makers, and individuals can contribute to the overall growth and well-being of rural areas in India.</span></p>

Based on the Analysis of Existing Economic Policies, Compares the Response of Economic Policies to Population Ageing between the UK and Japan

In the context of the changing age structure of the global population, many countries are experiencing the economic consequences of this problem, such as severe dependency ratios and a reduction of qualified workers, which will harm the country's potential economic growth capacity. In order to mitigate the negative effects on the economy, both Japan and the United Kingdom have developed economic policies to deal with population ageing. These policies all revolve around healthcare, pension and employment. These economic policies are similar in some respects, such as in employment, where the two countries try to raise the retirement age of the elderly from various aspects, but show different policy biases in further policy-making for different reasons, such as different cultural backgrounds. This paper analyzes these similarities and differences by reviewing past literature and policy cases, making preliminary conjectures and summaries on the causes of these characteristics through past literature, and analyzing the effectiveness of some of these policies. Finally, we conclude from the study that these policy differences are due to different cultural, and historical backgrounds and current economic situations between the two countries.

Comparative Analysis of FDI Inflow in Emerging Economies

This comprehensive document offers an extensive comparative analysis of Foreign Direct Investment (FDI) inflows in emerging economics, with a primary focus on key emerging countries. These nations have increasing attracted foreign investor seeking new growth opportunities. The BRICS group which includes Brazil, Russia, India, China, and South Africa, stands out as an important subject for this comparative study. The main objective is to gain comprehensive understanding of the foreign direct investment (FDI) inflow patterns is developing countries over the previous decade, emphasizing temporal trends and assessing the profound impact of FDI on their economic growth. The methodology employed in this research involves secondary data analysis utilizing information from reports by institution like the Reserve Bank of India (RBI), Macro Trends and the Ministry of Commerce. The study also includes an in-depth review of research papers, thorough and a meticulous analysis of FDI inflow data spanning the last 10 years. To gauge the influence of FDI on economic growth, a rigorous regression analysis is conducted. Emerging economies have increasingly become hotbeds for foreign investment, attracting capital from across the globe. Investors seeking to diversify their portfolios have taken notice of these countries because they present a multitude of growth potential. The BRICS group is unique among these rising economies because of its size, diversity, and potential for economic growth. Over the past decade, the BRICS nations have experienced significant shifts in FDI inflows, reflecting the evolving global economic landscape. This analysis clarifies the factors driving these investments and their effects on economic growth, with a focus on comprehending the long-term trends in FDI inflows to these nations. It is imperative that investors and regulators alike comprehend these trends. In addition to providing overall FDI inflow statistics, the analysis looks at the industries and geographical areas that have drawn in a lot of foreign capital. Moreover, it examines the evolution of policies and regulations in these countries that have played a pivotal role in shaping FDI trends. The central theme of this research revolves around assessing the impact of FDI on the economic growth of the BRICS nations. In order to do this, we measure the impact of FDI on these nations' economic performance using rigorous regression analysis. This empirical analysis helps us understand how much foreign direct investment (FDI) has contributed to economic growth and whether this contribution differs across the BRICS nations. Key words – FDI, BRICS, Inflow, economic growth.

Using a 4-sector input-output model to assess unrealized economic growth potential

Using a 4-sector input-output model to assess unrealized economic growth potential

E-Commerce's Impact On Economic Growth

This study aims to analyze the impact of e-commerce on economic growth in Indonesia using a Systematic Literature Review (SLR) approach. E-commerce has become a significant global phenomenon, and Indonesia is projected to have the highest e-commerce growth rate in the world in 2024. With an e-commerce trade value reaching 78%, Indonesia shows great potential in this sector. The study finds that e-commerce contributes significantly to increased productivity and efficiency, broader market access, and technology and innovation adoption by SMEs. However, challenges such as technology access, digital literacy, and infrastructure remain obstacles. The study emphasizes the need for policies that support the enhancement of digital infrastructure and training for SMEs to optimize e-commerce potential. Relevant policy implications can help the government and stakeholders maximize the benefits of e-commerce for national economic growth. By using the SLR approach, this study provides a comprehensive and integrative analysis of the impact of e-commerce on economic growth in Indonesia and presents strong empirical evidence of the causal relationship between the two. The study also offers recommendations for future research, including the use of primary data, regional analysis, international comparative studies, and attention to social and environmental impacts. Additionally, further research into policy and regulatory effectiveness, the role of technology and innovation, longitudinal studies, and collaboration with the private sector is also recommended. Thus, this study makes an important contribution to understanding and leveraging e-commerce potential for sustainable economic growth in Indonesia.

Effect of Macroeconomic Variables on Economic Growth in Nigeria

The study examined the effect of macro-economic variables on economic growth in Nigeria between 1990-2022. Specifically, the paper examined the effect of Exchange rate on Economic growth in Nigeria and determined the effect of interest rate on Economic growth in Nigeria. The paper employed ex-facto research design, using secondary data and adopted SVAR model. The paper found out that interest rate has a significant effect on Economic growth (RGDP) in Nigeria, and found that exchange rate has a significant effect on Economic growth (RGDP) in Nigeria. The study concluded that macroeconomic variables has a significant effect on Economic growth in Nigeria. Based on the study’s findings and conclusions above, the following recommendations were made: the government should improve on her foreign reserves as an absolute measure that will stabilize exchange rate to boost economic environment for effective investment to thrive and contribute to gross domestic product in Nigeria, and interest rate is found to have increased the potentials of Economic growth in Nigeria. It is therefore important to note that since interest rate have significantly affected the Economic growth in Nigeria, the CBN should improve on discount rate to stabilize interest rate to boost economic environment for effective investment to thrive and contribute to gross domestic product in Nigeria.

Exploring Low-Grade Iron Ore Beneficiation Techniques: A Comprehensive Review

The beneficiation of low-grade iron ores is a key research and development topic in the mineral processing industry. The gradual exhaustion of high-grade iron ore reserves, and rising consumer iron and steel demand globally necessitate efficient low-quality iron ore beneficiation to meet steelmaking quality requirements. This comprehensive review explores various beneficiation techniques for low-quality iron ore, focusing on conventional methods including comminution, froth flotation and gravity separation. This article discusses the principles, processes, and equipment used in these techniques and highlights recent advancements and research efforts in the field. This review also emphasizes the importance of effective beneficiation processes in enhancing economic viability, sustainable resource management, and environmental conservation. Furthermore, it presents a case study of iron ore deposits in Botswana, highlighting the potential economic growth and sustainable development that can be achieved by maximizing resource utilization through reductive roasting, followed by magnetic separation of iron ore using semi-bituminous coal as a reductant. Overall, this review provides valuable insights into low-grade iron ore beneficiation techniques and their significance in meeting the growing demand for high-quality iron and steel products.