Economic Development Progress Research Articles

Small countries facing the technological revolution: fostering synergies between economic complexity and foresight research

Purpose Although the significance of technological progress in economic development is well-established in theory and policy, it has remained challenging to agree upon shared priorities for strategies and policies. This paper aims to develop a model of how policymakers can develop effective and easy to communicate strategies for science, technology and economic development. Design/methodology/approach By integrating insights from economic complexity, competitiveness and foresight literature, a replicable research framework for analysing the opportunities and challenges of technological revolutions for small catching-up countries is developed. The authors highlight key lessons from piloting this framework for informing the strategy and policies for bioeconomy in Estonia towards 2030–2050. Findings The integration of economic complexity research with traditional foresight methods establishes a solid analytical basis for a data-driven analysis of the opportunities for industrial upgrading. The increase in the importance of regional alliances in the global economy calls for further advancement of the analytical toolbox. Integration of complexity, global value chains and export potential assessment approaches offers valuable direction for further research, as it enables discussion of the opportunities of moving towards more knowledge-intensive economic activities along with the opportunities for winning international market share. Originality/value The research merges insights from the economic complexity, competitiveness and foresight literature in a novel way and illustrates the applicability and priority-setting in a real-life setting.

Temporal and Spatial Analysis of Coupling Coordination in Beijing–Tianjin–Hebei Urban Agglomeration: Ecology, Environment and Economy

With the rapid growth and development of urban areas, the economy has often been prioritized at the expense of the environment and ecological systems. However, it is essential to delve deeper into the relationship between the economy and the ecological environment. Therefore, this study introduces a comprehensive evaluation system that encompasses economic, ecological, and environmental factors in the Beijing–Tianjin–Hebei urban agglomeration in China. The Criteria Importance Through Inter-criteria Correlation (CRITIC) method is utilized to determine the weights of various indicators, and coupling as well as coupling coordination models are employed to investigate the spatiotemporal trends and interrelationships of the three factors. The results indicate that the economic development index has displayed a consistent uptrend since 2000, with the economic development index from 2015–2020 increasing by approximately four times compared to 2000–2005. The ecological status index has also increased in the last five years, with a rise of about 0.05 from 2015–2020 compared to 2000–2005. The environmental status index has fluctuated but generally increased, with a rise of approximately 5.6 times from 2015–2020 compared to 2000–2005. The coupling degree of the Beijing–Tianjin–Hebei urban agglomeration is relatively high, with intense coupling from 2005–2020, and moderate coupling from 2000–2005. Furthermore, the coupling coordination has continuously improved from mild maladjustment to barely coordinated from 2000 to 2020, indicating the enhancement of the coupling coordination of the three factors. It is crucial to acknowledge that there exists spatial heterogeneity in both the coupling degree and coupling coordination degree. This heterogeneity stems from the uneven progress in economic development, ecological conditions, and environmental status across various cities. Additional endeavors are required to foster the harmonized advancement of these factors across the entire region.

Determinants of digitalization: Evidence from Asia and the Pacific countries

PurposeDigitalization is one of the major factors that fosters economic growth across the world. However, the level of digitalization varies significantly between developed and developing countries, with the latter often lagging behind. To bridge this gap, it is crucial to pinpoint the drivers of digitalization, specifically from the macroeconomic and country-level governance dimensions. Therefore, this study aims to investigate the determinants of digitalization, particularly for countries in Asia and the Pacific region.Design/methodology/approachOur study utilizes unbalanced panel data from 46 Asian and Pacific countries for the period of 2001–2021. Initially, we analyzed the data using conventional econometric methods, such as pooled ordinary least squares (POLS), random-effects model (REM) and fixed-effects model (FEM). Moreover, we employed endogeneity-corrected techniques and alternative proxies to enhance the robustness and reliability of our findings.FindingsOur findings reveal that economic development progress, government expenditure relative to country size and political stability are key drivers of digitalization. In contrast, corruption at the country level emerges as a significant impediment. Notably, our results remain robust to endogeneity-corrected techniques and alternative proxies of digitalization. Overall, these insights can inform policymakers, helping them to understand the macroeconomic and governance factors shaping digitalization and guide their decision-making toward effective policy interventions.Originality/valueThis study’s empirical findings add significant value to the existing literature by quantifying the impact of macroeconomic and governance factors on digitalization in selected countries. This offers valuable insights for policymakers, particularly in nations with lower levels of digitalization.

The Relationship between the Popularization of Music Education and the Level of Economic Development

Education plays a crucial role in the growth of both society and the economy, serving as the foundation upon which progress is built. However, it is not enough to simply have an education system in place; it must be continually improved and developed to meet the changing needs of society. With the progress of economic development, the width of education continues to expand, people pay attention to quality education increasingly, among which the popularity of music education is also changing. In order to further enhance the popularity of music education in the future, while looking for new ways to promote economic growth, it needs to explore the connection between the two. This paper discusses the relationship between the popularity of music education and the level of economic development. By studying the changing trend of the economic development stage and the popularity of music education since New China and the popularity of music education in the context of the significant economic development gap between countries in the world, the basic idea of promoting the popularity of music education and economic development can be found : economic development and the popularity of music education promote each other. In the future, by coordinating the development of the two, mutual promotion can be achieved and get twice the result with half the effort.

Adjustment of Meat Consumption Structure under the Dual Goals of Food Security and Carbon Reduction in China

With the progress of economic development and increase in income, there have been significant transformations in the food consumption patterns among Chinese residents. Grain consumption has declined while the consumption of livestock products such as meat, poultry, eggs, and milk has gradually risen. Moreover, noteworthy adjustments have been observed in the meat consumption structure itself, with a substantial increase in poultry consumption and a significant decrease in pork consumption as representative of red meat. This study collects data mainly from the “Brick Agricultural Database” and “China National Grain & Oils Information Center”. And then, we employ the China Agricultural Industry Model (CASM) to simulate the economic and ecological consequences of augmenting poultry consumption as a substitute for red meat intake. The research findings demonstrate that ensuring an adequate intake of livestock products for residents without any decline will stimulate the doubling of China’s poultry meat demand by 2035 compared to 2020 while replacing pork. This would reduce feed grain requirements by 50 million tons and achieve carbon emission reductions amounting to 82 million tons. If we consider the consumption of poultry consumption growth in conjunction with its substitution for other red meats such as pork, beef, and mutton, this will save approximately 20 million tons of feed grains and lead to a reduction of around 103 million tons in carbon emissions. In conclusion, promoting future increases in poultry consumption as a substitute for pork and other red meat will yield extensive economic andecological benefits contributing toward international food security goals, as well as global carbon reduction targets. Additionally, advocating for increasing poultry consumption will also reduce the risk of chronic diseases and malignant tumors; this will significantly improve the national health states.

Some Aspects of Karnataka State Finances : A Critical Analysis

In Indian fiscal federalism states play important role by shouldering responsibility of social and economic development activities. With the progress in economic development, fiscal burden of states is increasing over the years. On the other hand, fiscal sector reforms like introduction of GST have affected the revenues of states. As a result, most of the state governments are finding it difficult to manage finances effectively. This paper tries to analyse the financial position of Karnataka state by taking into consideration revenue and expenditure aspects. It is concluded that due to proactive policies and efficient fiscal management Karnataka state was able sustain prudent fiscal management

China's sustainable development perspective of financial development from the lens of geopolitical risk and resources extraction

The progress of economic development is greatly improved by financial development, and one of the main sources that can be used to encourage the expansion of financial systems is the revenue obtained from the sale of natural resources. The current study analyzes China's nexus of natural resources and financial development from 1989 to 2021. The study also included geopolitical risk as an additional determinant of financial development. With different covariates of the dependent variable, we make available several reliable econometric methods for this study; for the unit root testing, the Augmented Dicky-Fuller test; for primary outputs, Auto Regressive Distributive Lags (ARDL) model is employed and for the robustness check analysis, Fully Modified Least Squares FMOLS, DOLS and CCR methods are provided. The outcomes exhibit that various rents of NRR have a negative and significant impact on financial expansion, exhibiting the resource curse hypothesis in China, while natural gas exhibits improve FD in China. Moreover, Geo-political risk has an insignificant but positive impact on financial development; therefore, GPR influence is inconclusive in both the short and long run. Robustness check results support the ARDL estimates, and the results are similar in all formats. The study provides policy implications regarding the nexus of FD and NRR.

Research on Characteristics of Economic Development and Environmental Pollution in Typical Energy Regions

The data on economic development quality and environmental pollution intensity from 2001 to 2021 was selected by taking Shanxi province, a typical energy region of the country, as the research object was analyzed in the evolution characteristics of economic development quality and environmental pollution intensity in Shanxi province over the past two decades by using linear regression, numerical fitting, and Pearson correlation coefficient, and was explored on their mutual relationship. The results show that Shanxi province has made long-term progress in economic development since 2001, with GDP increasing nearly 10 times and maintaining an average annual growth of about 7%. The main pollutants in the last 20 show a trend of steady change, first ascending and then descending, with the turning point occurring in the 12th Five-Year Plan period (2011–2015), which shows that the environmental policies and investments made by China and Shanxi governments in the last 10 years of the new era have taken effect. The results of the numerical fitting curve suggest that the per capita GDP shows a classical inverted “U” curve relationship with wastewater and SO2 emissions, respectively. The turning point occurs at around 20,000 yuan per capita GDP, while the relationship between chemical oxygen demand and ammonia nitrogen emissions is monotonically decreasing. The relationship with solid waste generation is monotonically increasing without the turning point. The results of the correlation analysis further supported the conclusion of the fitted curve.

Descriptive Analysis and Business Model Innovation on Creative Economy Development in Yogyakarta

Aims: In this transformation era, creativity and knowledge quickly became powerful tools to drive progress in economic development. Unforeseen economic challenges around the world are pushing many countries and regions to adapt in new ways and are oriented towards the creative economy. The creative economy is a development concept based on creative capital that has the potential to increase economic growth. As a city of education and culture, Yogyakarta has social, economic, and cultural wealth potential to be developed into a creative industry. However, the potential for the creative economy has so far not been identified and utilized optimally. This study aims to map performance, potential, and several keys to success for the development of the creative economy in Yogyakarta.
 Study Design: The analytical method used is the descriptive analysis method, business model, and Critical Success Factors (CSF).
 Place and Duration of Study: The description of the creative economy of Yogyakarta begins by analyzing the number of creative entrepreneurs in Yogyakarta city in 2021.
 Methodology: The methodology of this study is a qualitative study by observations in the field, interviews with the Yogyakarta government, and creative economy actors.
 Results: The results obtained to develop the creative economy of Yogyakarta City are six critical success factors, namely: a) Database, b) Human resources, c) Mastery of technology, d) Creative arena and infrastructure, e) Financing and investment, and f) Institutional.
 Conclusion: The creative economy is a sector with considerable potential in the city of Yogyakarta because there are many creators who have quite high production values. Unfortunately, the creative economy in Yogyakarta has not been properly recorded and is still underestimated.

Safeguarding Human Rights Against Multinational Enterprises’ Abuse: The Necessity of Mandatory Due Diligence Regulations

As globalization and economic development progress, corporate human rights abuses have drawn increasing attention from the international community. However, existing international norms fall short in protecting human rights. This study employs a comparative research method to examine Mandatory Human Rights Due Diligence (MHRDD) laws in different countries, contrasting the shortcomings of international norms with the advantages of MHRDD laws. Through these comparisons and an investigation of the concepts and history of MHRDD laws, the study highlights their importance. Additionally, the research provides recommendations based on an evaluation of existing legislation. These suggestions aim to enhance the comprehensiveness of MHRDD laws, increase the number of companies required to conduct Human Rights Due Diligence (HRDD), address imbalances in rights, focus on result oriented HRDD, establish red lines, and offer effective remediation avenues. This will contribute to the promotion of human rights protection among global enterprises and the further improvement of human rights protection mechanisms.

Монетизація глобальної економіки: тенденції та особливості

Monetary support of the economy represents a necessary prerequisite for ensuring sustainable economic development, which is a priority strategic direction of public policy of any State. The purpose of the article is to identify the features and trends of monetary provision of the world economy in general and in terms of groups of countries, which will contribute to a better understanding of the relationship between economic development and the process of monetization of the economy. The concept of «monetization of the economy» is distinguished as a state and as a process. In the context of management, the monetization of the economy should be considered as a process that is a product of a reaction to the measures of public policies to manage the supply and demand for money, which is expressed in the remonetization and demonetization of the economy, while the state of monetization of the economy is proposed to be considered as a criterion for the adequacy of monetary provision to the economy. It is noted that a sufficient level of monetary provision of the economy has a positive impact on economic development, the dominant component of which is defined as economic growth. The analysis of the monetization of the world economy in the dynamics for 2000-2020 reveals a general trend towards monetary expansion of world economies. Based on data for 133 countries, the article identifies an increasing correlation between the level of monetization of the economy and economic development in the years of 2000, 2010 and 2020, which shows the importance of ensuring the processes of remonetization of economies for the economic development of the global economy. It is determined that the monetization of the world economy has a general upward trend, which intensifies after the passage of economic crises. The hypothesis that there is a link between the level of monetary support of the economy and economic development in other countries is justified. The existence of a positive relationship over the past 20 years, which has been strengthening over time, has been revealed. Several countries have a generally high level of monetization, but do not have tangible progress in economic development, which is primarily due to the non-monetary features of the development of these countries

Income-related health inequality among rural residents in western China.

Health equality has drawn much public attention in both developed and developing countries. China, the largest developing country, has implemented a new round of health system reform to improve health equality since 2009. This study aims to examine the magnitude and sources of income-related health inequality in western rural regions of China. Data were obtained from the Survey of Rural Economic and Social Development in Western China conducted in 2014, in which 14,555 individuals from 5,299 households in 12 provinces were included. Health outcome variables of interest were self-rated health status, prevalence of chronic disease and four-week illness. Concentration index was calculated to assess magnitude of income-related health inequality, and nonlinear decomposition analysis was performed to identify the sources of health inequality. The Concentration indexes for poor self-rated health status, prevalence of chronic disease and four-week illness were -0.0898 (P<0.001),-0.0860 (P<0.001) and -0.1284 (P<0.001), respectively. Income and education were two main sources of health inequality, accounting for about 25-50% and 15% contribution to the inequality. Ethnicity made <10% contribution to income-related health inequality, and enrollment in New Rural Cooperative Medical Scheme contributed to <1%. This study found slight income-related health inequality among rural residents in western China, implying that although China has made substantial progress in economic development and poverty alleviation, health inequality in western rural region should still be concerned by the government. To achieve health equality further, the Chinese government should not only strengthen its reimbursement mechanism of the current health insurance scheme to improve affordability of primary healthcare for residents in western rural regions, but also implement health poverty alleviation policies targeting socioeconomically vulnerable population and ethnic minorities in future.

Analisis Pengaruh Ekspor, Tenaga Kerja dan Investasi Terhadap Pertumbuhan Ekonomi Indonesia dalam Perspektif Ekonomi Islam Tahun 2010-2019

Economic growth is one indicator of a measure in the progress of economic development in a region or country. Indonesia's economic growth is affected by a variety of factors. Exports, labor, and investments can be both critical to both economic development and economic growth. The economic growth seen from the gross domestic product growth rate of 2010-2019 tended to move downward. It is not due to fluctuating exports, increasing labor and continuing investment rates. The study aims to know how exports, labor and investments impact economic growth in Indonesia in 2010-2019 is reviewed in an islamic economic perspective. The type of research used is descriptive quantitative research. The type of data used is secondary data in the form of a time series for 10 years, namely from 2010-2019 which is sourced from the Indonesian Central Statistics Agency, the world bank, the Investment Coordinating Board and related agencies. The data collection method uses documentation and library research. Method of data analysis using multiple linear regression with the help of SPSS 23 program. The results showed that simultaneously the variables of export, labor and investment had a significant effect on Indonesia's economic growth. Partially, the export variable has no significant effect on economic growth and the labor variable has a positive and significant effect on economic growth, while the investment variable has a significant and negative effect on Indonesia's economic growth.

The impact of financial development on ecological footprints of nations

Financial development is an important driver of technological progress in economic development. Its role in environmental change has not been well examined. We endeavor to examine the non-linear effects of multi-dimensional financial development measures on four kinds of ecological footprints in a global sample of 124 economies. We apply a two-step system generalized method of moments to deal with possible endogeneity. We find a stark difference in the impact of financial institutions' development and financial markets' development on the ecological footprints. Whereas financial institutions, with their three dimensions (i.e., depth, access, and efficiency) have an inverted-U shaped relationship with the ecological footprints, allowing for the initially harmful effect on the environment to revert to beneficial effects, the same results are not observed for financial markets. We attribute the inverse-U shaped relationship to a declining scale effect of FD and rising technological and composition effects of FD that transform the economy. Based on that we recommend that best practices of financial institutions regarding making environmentally conscious investment decisions be turned into a conscious investing culture around the world. For this to become a reality, better information-sharing regarding the individual environmental performance of firms will be needed.

Does Economic Development Affect Public Debt Accumulation ? Empirical Evidence from India

The main aim of this paper was to explore various public debt determinants in India using structural equation modeling (SEM). This study is based on secondary data, starting from 1985 – 2018. The study was partially confirmatory and partially exploratory as it also inspected the interaction between economic development and public debt. The findings suggested that, among various macroeconomic variables, debt servicing, inflation, and military expenditure are the key determinants of debt in India. Moreover, as expected, economic development has a negative relation with public debt, suggesting that public debt accumulation tends to decrease with the progress in economic development. It is acknowledged that the improvement in socioeconomic conditions is likely to enhance the overall welfare of the people and thereby create more productive resources in the economy. Therefore, from a policy perspective, we should zero in on internal and debt-related factors.

Potato Importance for Development Focusing on Prices

This paper studies potato prices and consumption in the progress of economic development. Potato status tends to evolve from a luxury to a normal and, lastly, to an inferior good. In the developed world, where the potato thrived and became a food for the poor, prices of the inferior potato attract little interest due to general welfare, which further complicates discerning economic effects by computation. Contrarily, in many developing countries, due to supply constraints the potato is a relative expensive, non-staple, normal good, with little social significance. Whereas it is a common misconception that tastes in developing countries differ from advanced economies, low incomes, together with relatively high potato prices, present a real and obvious hindrance to wider potato use among the poor in the underdeveloped world. Local regressions on FAO data reveal empirical advantages favoring potato price system research in developing countries, more likely yielding predictable, statistically significant, unbiased results. Correct policies could increase potato importance in developing countries and stimulate sustainable and pro-poor growth where consumers receive affordable potatoes, while also producer incentives for greater productivity improve. Furthermore, potato-led research presents widening potential into also understanding general social structures of underdevelopment as similar factors explain both cross-border incomes and potato prices.

Assessing human-environment system sustainability based on Regional Safe and Just Operating Space: The case of the Inner Mongolia Grassland

China’s grassland policy has changed substantially since the country’s “reform and opening up” about four decades ago, with profound impacts on both herder’s wellbeing and grassland conservation in Inner Mongolia. However, whether the herder-grassland system of Inner Mongolia has become more sustainable has not been quantitatively assessed against established sustainability standards. Thus, this study aimed to quantify the sustainability gaps of the herder-grassland system of Inner Mongolia from 1982 to 2015, based on the Regional Safe and Just Operating Space (RSJOS) framework and landscape sustainability science. Specifically, we evaluated grassland productivity by combining the envelope of variability and spatial explicit landscape analysis methods, and assessed herder’s wellbeing using the minimum standards of the United Nations’ Sustainable Development Goals (SDGs). Our main findings are: (1) the grassland productivity of Inner Mongolia returned to a safe operating state after experiencing unsafe changes between 2000 and 2009; (2) the hotspots of grassland degradation during 1980s-2015 were mainly located in desert steppes and the agro-pastoral transitional zone; (3) herder’s income, education, safe drinking water, and social equality did not reach the internationally agreed minimum standards of SDGs, although the overall wellbeing improved during recent decades; and (4) herder’s livelihood became less reliant on grasslands as their economic gains from raising livestock declined rapidly. We conclude that, while Inner Mongolia has made substantial progress in economic development during recent decades, improving the basic needs of herders (especially socioeconomic equity and high-quality education) and restoring severely degraded grasslands remain the most urgent and challenging issues that hinder a sustainability transition in the region.

ANALISIS KETIMPANGAN DALAM PEMBANGUNAN EKONOMI ANTAR KECAMATAN DI KABUPATEN SOPPENG TAHUN 2008- 2018

This study aims: 1) Knowing the development and level of progress of economic development in each district in the period 2008-2018. 2) Knowing the effect of population and high school and tertiary education levels on the level of economic development inequality. 3) Knowing the effect of the number of poor families on the level of inequality in economic development. 4) Knowing the effect of population growth on the level of inequality in economic development. This research is a quantitative research. The data used in this research are secondary data from 8 sub-districts in Soppeng Regency in 2008-2018. The analysis technique used is quantitative analysis using panel data regression analysis model Fixed Effect. The results of this study indicate that: 1) The analysis using panel data regression shows that the regional share growth component variable is not included or removed from the model. 2) The population variable with high school and tertiary education levels has a significant and positive effect on inequality in economic development. 3) The variable number of poor families has a significant and negative effect on inequality in economic development. 4) The population growth variable does not have a significant effect on inequality in economic development.

Sectoral Strategic Planning: Features of the Modern Stage

The presented study examines the role of sectoral strategies as a set of measures for ensuring the sustainable functioning of major sectors of the national economy and regional economies of the constituent entities of the Russian Federation. Aim . The study aims to assess the process of sectoral strategic planning from the perspective of achieving stable development of the national economy. Tasks . The authors analyze sectoral strategies to see how they address the challenges and threats to sectoral development, examine the distribution of production of strategic priority sectors in the context of the constituent entities of the Russian Federation in order to determine its concentration, and systematize the major avenues for discussion regarding the role, place, and quality of sectoral strategic planning. Methods . This study uses analysis to present various scientific opinions on strategic planning, identify its problem areas typical for the modern stage, and draw attention to the format of goal-setting for sectoral strategies and the results of their implementation. Results . Five major directions of research on the problems of sectoral strategic planning are determined. The approach used in the development of sectoral strategies and the results of sectoral strategic planning are assessed. Low requirements for the formulated goal are identified as a characteristic feature of the modern stage of sectoral strategic planning, which leads to low indicators of sectoral development. That said, the issue of making allowance for the risks and threats to sectoral development is not sufficiently investigated. Conclusions . The problem of sectoral strategic planning has many aspects for consideration, which serves as a basis for objective assessments of the current situation. The current results of the development of economic sectors indicate that there are significant problems both in the organization of strategic planning and in its implementation. The lack of clear progress in economic development and the majority of strategically important industries being concentrated in the European part of Russia encourages discussion and scientific search for solutions to the problem of updating the model of sectoral strategic planning.

Institutions as the Main Determinant in Economic Growth

The studies on human capital and technological progress have given incredible insights on how countries in the world differ from one another. Yet there are more than those two reasons to account for differences among countries. There is a third reason why a country would differ in terms of its economic development progress, namely institutional factors. Hence developing institutional indices would give a deeper explanation than a mere theory. On the other hand, we can corroborate the institutional index with the general theory that low-quality institutions will impact an economy negatively. This study seeks to broaden the understanding of causes of economic growth by incorporating institutional index into a semi-endogenous growth model and finds a relationship between that index with human capital and technological progress