ABSTRACT Using 2015–2024 panel data of Chinese A-share manufacturing firms, this study examines how digital intelligence transformation affects operational efficiency. We measure efficiency via DEA-BCC and quantify transformation through annual-report text analysis. Fixed-effects estimates, which are further corroborated by PSM, Heckman, and 2SLS, demonstrate that digital intelligence transformation significantly enhances operational efficiency, with more pronounced effects among non-state-owned and labor-intensive firms. Mechanism analysis reveals three transmission channels: human capital quality improvement, management efficiency enhancement through process optimization and intelligent decision-making, and innovation capability strengthening. The findings offer actionable insights for corporate digital strategy and differentiated transformation policy.

The article examines the protection of the rights and legal interests of demographically vulnerable population groups through the prism of their impact on the economic development and post-war reconstruction of Ukraine. It is substantiated that demographic vulnerability has not only a socio-legal, but also a distinct economic meaning, as it is associated with a decrease in the level of employment, increasing poverty, increasing the burden of dependency, narrowing the tax base and increasing spending on social support, healthcare and public services. It has been established that children, persons with disabilities, the elderly, internally displaced persons and other demographically vulnerable groups are an important element of human capital, on which the stability of the labor market, the restoration of productive resources and the economic capacity of the state depend. It has been proven that effective administrative and legal support for the rights of these groups should combine procedural accessibility, targeted economic support mechanisms, the development of inclusive services, employment stimulation and coordination of social policy with the needs of reconstruction. It is concluded that the protection of demographically vulnerable groups is a necessary prerequisite for preserving labor potential, reducing socio-economic losses and ensuring long-term post-war development of Ukraine. Research methods. The methodological basis of the study is dialectical, systemic-structural, formal-logical, comparative-legal methods, methods of analysis and synthesis, which allowed a comprehensive study of the financial and economic mechanisms for ensuring the stability of critical infrastructure in conditions of crisis transformations. The expected scientific result is to clarify the concept, content and features of ensuring the rights and legitimate interests of demographically vulnerable population groups: the administrative and legal dimension of economic development and post-war recovery of Ukraine. The purpose of the article is to study the issues of ensuring the rights and legitimate interests of demographically vulnerable population groups: the administrative and legal dimension of economic development and post-war recovery of Ukraine. Conclusions. The study found that demographically vulnerable groups should be considered as a separate legal and economic category, which is not identical to the general category of “vulnerable groups”, since its content is determined primarily by demographic characteristics and the life cycle of a person, and the legal consequence is the need for enhanced administrative and procedural guarantees of accessibility, priority, reasonable accommodation and proactive provision of services. The study shows that in the economic dimension, demographic vulnerability manifests itself through a decrease in labor potential, an increase in the dependency burden, increased social security costs and greater sensitivity to administrative barriers, and therefore it directly affects the quality of human capital, budgetary sustainability and the pace of economic recovery. It has been established that migration processes, poverty, population aging, security threats and institutional barriers increase the number and depth of demographic vulnerability, and prolonged martial law further worsens the situation due to increasing poverty, reducing the labor force and narrowing domestic demand. As a result, the tax base, investment potential and the state's ability to quickly recover after the war are weakened. Therefore, an effective solution to the problem under study is possible only if administrative and economic mechanisms of influence are combined: simplified and accessible procedures, interagency coordination, digital inclusion, free legal aid, as well as targeted social transfers, budget financing, employment programs, housing support and other long-term instruments that reduce the risk of poverty and social exclusion of demographically vulnerable groups. It is such a comprehensive model that should become the basis of state policy in the field of economic development and post-war recovery of Ukraine.

This study examines the role of digitalization and higher education in trade performance in Southeast Asia by considering private sector financing as a mediating variable. The analysis is motivated by the growing importance of digital transformation and human capital quality as key determinants of trade performance in the context of global economic dynamics, as well as the role of financial systems in supporting real sector activities. The study adopts an explanatory quantitative approach using panel data from six Southeast Asian countries Indonesia, Malaysia, Thailand, Vietnam, the Philippines, and Singapore covering the period 2015–2024, sourced from the World Bank. Data analysis is conducted using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with a bootstrapping procedure to examine both direct and indirect relationships among variables. The results indicate that digitalization plays a significant role in enhancing trade performance and is also significantly associated with private sector financing. Higher education is found to play a significant role in trade performance, but it does not show a significant relationship with private sector financing. Furthermore, private sector financing does not exhibit a significant role in trade performance and does not function as a mediating variable in the relationships between digitalization and trade performance, nor between higher education and trade performance. These findings suggest that the contributions of digitalization and higher education to trade performance in Southeast Asia tend to be direct, while the role of private sector financing as a transmission mechanism remains structurally constrained.

The disparity in the unemployment rate between provinces in Indonesia, exacerbated by the COVID-19 pandemic, is the main focus of this study. This study aims to (1) map the grouping of unemployment patterns in 34 provinces based on the Open Unemployment Rate (TPT) time series data for the 2020-2024 period, and (2) analyze the most significant socio-economic determinants of the formation of these patterns. Applying a two-stage methodology, cluster analysis using K-Means—validated through the Elbow Method and Silhouette Score of 0.456—succeeded in classifying the provinces into four different groups. The two prominent clusters identified were "Cluster 2: Pandemic Shock Pattern" (e.g., DKI Jakarta, West Java) which showed a surge in TPT above 10%, and "Cluster 3: Resilient Pattern" (e.g., Bali, DIY) which showed the lowest TPT rate and fastest recovery. Furthermore, the Random Forest Classifier analysis identified a hierarchy of determining factors, with the 2024 Average School Length (RLS) as the strongest predictor, followed by the 2024 Provincial Minimum Wage (UMP) and the 2024 GDP. These findings underline that the quality of human capital (education) is a more crucial factor than economic output (GDP) in shaping the resilience of the labor market. The study concludes the need for differentiated and cluster-specific unemployment policy interventions, rejecting a nationally uniform approach.

The Islamic financial sector in Indonesia has demonstrated an increasingly strategic role in supporting inclusive and sustainable economic growth. Although the assets of Islamic banking have exceeded IDR 1,050 trillion as of March 2026, its market share remains relatively small, at approximately 7.5%–8%, indicating that its potential has not yet been fully optimized. This study aims to analyze the development of the Islamic financial sector, identify key challenges—particularly in terms of financial literacy and digital transformation—and formulate strategies to strengthen institutional capacity in the digital economy era. This research employs a descriptive qualitative approach through a literature review, utilizing secondary data from the Financial Services Authority (OJK), Bank Indonesia, and the National Committee for Islamic Economy and Finance for the 2024–2026 period. The findings reveal a gap between asset growth and the relatively low level of public literacy, as reflected in a literacy index of 39.11%, which is lower than the inclusion rate. This gap gives rise to the phenomenon of the floating mass, which may reduce customer loyalty. In addition, digital transformation plays a crucial role in expanding access to financial services and addressing competition from fintech. The study also highlights the importance of industry consolidation, the integration of social and commercial financial instruments, and the strengthening of the real sector, particularly MSMEs. Overall, the development of Islamic finance requires integrated policy support, enhancement of human capital quality, and optimization of digital technology to strengthen its competitiveness and contribution to the national economy.

The purpose of the study is to theoretically substantiate the macro- and microeconomic transformations of the labor market that arise under the influence of digitalization in the countries of the European Union and our country, taking into account changes in the structure of employment, labor productivity, professional competencies, organization of business processes and socio-labor relations. The object of the study is the labor market of the countries of the European Union and our country in the conditions of increased digitalization, automation, the spread of remote employment, platform forms of work and technologies based on artificial intelligence. The article reveals the relevance of the study of macro- and microeconomic transformations that occur as a result of digitalization of the labor market in the countries of the European Union and our country. It is substantiated that digitalization is no longer just a technological process associated with the implementation of software, electronic services or remote work formats, but is becoming a profound economic change that affects the employment structure, labor productivity, competitiveness of enterprises, the quality of human capital, the level of professional mobility and social sustainability of society. It is determined that at the macroeconomic level, digitalization changes the sectoral structure of the economy, strengthens the role of information and communication technologies, increases the demand for workers with digital competencies, forms new requirements for state employment policy, adult education and social protection. At the same time, at the microeconomic level, digitalization transforms the internal environment of enterprises, as approaches to labor organization, personnel management, performance assessment, communication, training, data protection and interaction with customers change. Particular attention is paid to the fact that in the countries of the European Union, the digitalization of the labor market is associated with a long-term strategy for increasing competitiveness, innovation and social balance, while in our country it additionally acquires the importance of a tool for economic stability, business adaptation to war conditions, preservation of human capital and preparation for post-war recovery. It is proven that digitalization opens up new opportunities for remote employment, professional retraining, development of small and medium-sized businesses and integration into the European labor market, but at the same time creates risks of increasing inequality between workers, enterprises, sectors and regions.

Type of the article: Research ArticleAbstractMoney laundering threatens global financial integrity, while digital governance is increasingly seen as a tool to enhance transparency and regulatory capacity. This study operationalized digital governance through the United Nations E-Government Development Index, which captures the scope and quality of online public services, telecommunications infrastructure, and human capital. The paper aims to examine whether improvements in e-government development are associated with measurable reductions in systemic money-laundering vulnerabilities at the country level. The study uses an unbalanced panel of 171 countries for 2012–2024 (982 observations). Fixed- and random-effects models with Box–Cox transformations were estimated, with the Hausman test guiding model selection and cluster-robust and Driscoll–Kraay standard errors ensuring reliable inference. The results demonstrate a statistically significant and economically meaningful inverse relationship between e-government development and money-laundering risk, measured by the Basel AML Index. In the preferred fixed-effects specification, the coefficient on the transformed EGDI is –1.56 (p < 0.001), indicating that within-country improvements in digital governance capacity are associated with substantial reductions in AML vulnerability over time. This effect remains robust across alternative error structures, with 95% confidence intervals of [–1.96, –1.17] under cluster-robust estimation and [–1.75, –1.38] under Driscoll–Kraay correction. The inclusion of country-specific fixed effects reveals considerable structural heterogeneity in baseline AML risk (approximately 1.15–3.90), while time effects display limited variation over the sample period (approximately 2.11–2.19), confirming that the risk-reducing role of digital governance is not driven by specific countries or particular years.AcknowledgmentThis article was prepared based on the results of a study funded by the Ministry of Education and Science of Ukraine, “GovTech for Ukraine: A Digital, Secure, Transparent, and Equitable State in Times of War and Post-War Reconstruction” (registration number: 0126U000544).

. In the service sector, the sustainability and competitiveness of an organization are largely determined by the quality of human capital, its effective integration into the organizational structure and long-term strategic directions. In this context, human resource management is no longer limited to administrative functions and is transformed into a strategic component determining organizational development. The paper pays special attention to the relationship between human resource management and organizational Culture interaction, Leadership The impact of models on employee engagement and shaping service quality .

This paper evaluates the current state and proposes strategic orientations for transitioning the economic growth model of the Mekong Delta toward sustainable development. Utilizing 100% secondary data derived from statistical reports, policy frameworks, and published scholarly works, the research adopts a methodology encompassing literature review, comparative analysis, and synthesis within an economy–environment–society framework. Findings indicate that the prevailing growth model remains heavily reliant on agriculture and resource extraction. Consequently, bottlenecks regarding productivity, human capital quality, infrastructure-logistics, and climate resilience have become increasingly pronounced. The study proposes three pivotal strategic pillars: (i) Economic restructuring aligned with regional comparative advantages and climate change adaptation; (ii) The promotion of innovation and digital transformation to bolster productivity and value-added components; (iii) The advancement of green, circular economies and modernized agriculture. Successful implementation is contingent upon refining regional linkage institutions, enhancing human resource development, and the strategic mobilization of investment capital.

This research examines public sector fiscal transmission as a mechanism for addressing intergenerational poverty traps in Indonesia. Despite mandatory social spending, its effectiveness in promoting upward social mobility remains contested. This study empirically assesses the causal relationship between sectoral fiscal interventions particularly education and health expenditures and improvements in the Human Capital Index (HCI) and vertical mobility prospects. Using panel data estimation, the analysis covers 38 Indonesian provinces during the post-pandemic recovery period from 2021 to 2024. Data were obtained from the Ministry of Finance, the World Bank, and Statistics Indonesia (BPS), focusing on functional budget realization and quintile-based outcomes. The findings show that fiscal inputs positively affect human capital development but display diminishing marginal returns, with an R² of 0.684 indicating that administrative absorption often precedes qualitative improvement. Individuals in the lowest income deciles exhibit significantly lower mobility, suggesting that fiscal policy functions more as a redistributive safety net than a transformative instrument. Policy implications emphasize a shift from input-based allocation to results-based financing linked to learning and health outcomes, alongside the removal of non-financial barriers to enhance upward mobility for the bottom 20 percent. Future research should employ longitudinal micro-level data to assess long-term mobility effects.

The article examines the essence and content of the category «competitiveness potential» using the example of business entities in the agrarian sector. The article identifies key problematic aspects of its formation under the current realities of economic activity of agro-companies in Ukraine. The authors’ interpretation of the content of the category «competitiveness potential of agrarian enterprises» is provided as the aggregate ability of agrarian enterprises to form and implement long-term competitive advantages based on resource availability, socially responsible managerial competencies, and an eco-innovative orientation aimed at ensuring their sustainable development in a transformed economic environment. The source for the formation and growth of such potential becomes the ability of resources and assets to sustainably reproduce over the long term. Based on the local systematization of research results, the authors’ vision of the architectural composition of the competitiveness potential of agricultural enterprises is presented, considering the implementation of sustainable development guidelines and green business transformations into their agribusiness management system. The elements of the architecture of competitiveness potential are proposed to include: resource-production potential, financial-investment potential, managerial-institutional potential, social-staff potential, and ecological potential. The methodological foundations for assessing the competitiveness level of agrarian business entities have been supplemented by establishing a logical relationship between modern evaluation indices and the share of added value in the agricultural sector. It has been determined that added value is the economic (financial) basis for creating long-term sustainable competitive advantages in the agricultural business. The key directions for forming and increasing the potential competitiveness of entrepreneurial structures in Ukraine’s agrarian sector under the conditions of strategic orientation towards the principles of sustainable development have been substantiated. Among them are highlighted: technological renewal of agrarian production, its further digitalization and greening, improving the quality of human capital, as well as changing the strategic orientations of agribusiness management towards the perception of new socio-ecological values of society and increasing the level of social responsibility in economic management.

The quality and productivity of human capital are influenced by household consumption factors, such as spending on health care, education, and better living conditions. Households support the reproduction of the labor force as the main factor of production and invest in the development of human capital through the consumption of goods and services. As technology advances and smart homes emerge, and as demand for services and goods increases, household energy consumption is also increasing. The aim of the study is to assess the economic impact of consumer determinants on household energy consumption. The study used the following indicators: Consumer price index of Housing services and other fuels, Real money income index of population, Annual inflation rate, Percentage of internet users, Employment rate. To assess the impact of factors on the level of household final energy consumption in Kazakhstan using the ARDL model, data covering 2001-2024 were obtained from the National Bureau of Statistics of the Republic of Kazakhstan and the official website of the World Bank. The findings indicated that the Consumer price index of housing services and other fuels has no effect on the Households final energy consumption (1000 t o.e.) component in either the long or short run. Whereas real money income, inflation rate, internet users have a positive influence in both the long and short run, employment rate has a negative effect in both the long and short run.

This paper examines the dynamic interrelationships between renewable energy use, environmental protection tax, and human capital quality in driving green growth and carbon emissions in Vietnam from 1995 to 2024. A novel Green Growth Index is constructed using FinBERT, a financial domain natural language processing model, to capture policy-driven progress toward sustainability. By integrating wavelet analysis and quantile-on-quantile regression, the study disentangles time–frequency dynamics and quantile-dependent effects. The results indicate that renewable energy and environmental taxes contribute to reducing CO₂ emissions, while human capital significantly enhances green growth but also increases emissions. The study highlights the dynamic and asymmetric relationships among these variables and provides policy implications for achieving Vietnam’s green transition.

Demography is one of the key factors in shaping the state’s economic potential and a strategic priority for public governance, as population size, age structure, birth and mortality rates, and migration processes directly dictate the sustainability of internal economic and administrative frameworks. At the same time, economic stability and the material well-being of citizens create a favorable basis for increasing the birth rate, curbing emigration, and improving the quality of human capital. Negative economic trends, especially under the conditions of military conflict, provoke increased migration processes, a reduction in labor resources, and a deepening of social problems. The article is devoted to modeling the interdependence between demographic processes and the economic development of Ukraine for the period 1995–2023. A comparative assessment of the strength and direction of influence of individual factors, as well as a quality check of the constructed models, is carried out. The following parameters are included in the economic and mathematical modelling: net migration rates, population growth, unemployment rate, total annual freshwater withdrawal (% of domestic resources), real interest rate, GDP per capita, and adolescent fertility rate. The impact of these factors is multifaceted: the findings reveal that the depletion of human capital through migration creates structural imbalances in the labor market, while the correlation between adolescent fertility and GDP highlights the need for targeted social interventions. Ultimately, the analysis demonstrates that the effective transformation of these interlinkages depends on the capacity of public governance to implement adaptive policies that harmonize economic incentives with demographic security to ensure long-term national resilience.

This study investigates the spatial effects of employment density on the economic, technological, and carbon efficiency of China’s manufacturing sector, using panel data from 30 provinces from 2008 to 2022. A multidimensional performance framework and spatial econometric models are employed to identify both direct impacts and spatial spillovers. The results show that employment density significantly enhances local economic performance while imposing negative spillover effects on neighboring regions. Technological performance exhibits uneven spatial returns, indicating a “technology siphoning” effect in more agglomerated provinces. Carbon efficiency presents a divergent pattern of “local improvement but neighboring deterioration,” highlighting cross-regional ecological externalities. In addition, human capital, capital investment, and regional policy intensity are found to regulate the strength and direction of spatial spillovers across the three performance dimensions. Based on these findings, this study recommends optimizing the spatial layout of manufacturing and population, strengthening interregional innovation collaboration, promoting green transformation, and improving the quality of human capital. These policy implications provide empirical support for advancing sustainable manufacturing development and enhancing regional governance capacity.

The goal of economic growth has also remained a core policy agenda, but it is witnessing growing challenges due to demographic changes, ecological decline, and pressure due to the globalization process. This study focuses on the combined impact of sustainable population, ecological capital, trade flow, financial integration, and industrial innovation on economic growth in a cleaner production context, using annual data on China and Russia from 1990 to 2024. To consider cross-sectional dependence, heterogeneity, and mixed orders of integration, cross-sectionally augmented autoregressive distributed lag (CS-ARDL) methodology is applied, and to check robustness, the Augmented Mean Group (AMG) estimator is applied. The results suggest that sustainable population, financial integration, and industrial innovation have positive and statistically significant effects on economic growth. In addition, the long-run estimates indicate that a 1 % change in sustainable population, ecological capital, and trade flow accelerates economic growth by 0.342%, 0.362%, and 0.0116%, respectively. Policy-wise, the findings suggest that population policies must be based on the sustainability of the population and the quality of human capital, as opposed to the size of the population. It is appropriate that ecological capital is treated as a productive resource by environmental policy, since long-term economic resiliency can be created through moderation in short-run growth. Second, the policy of trade and monetary integration should be integrated with cleaner production to foster the diffusion of technology and facilitate green investment channels.

This study aims to analyze the influence of Gross Regional Domestic Product (GDP), Human Development Index (HDI), and Open Unemployment Rate (TPT) on Regional Original Income (PAD) in 27 Regencies/Cities of West Java Province for the 2015-2024 period. This study uses Population as a control variable to minimize regional scale bias. The research method used is a quantitative approach with panel data regression analysis techniques. Based on the results of the test using the Random Effect Model (REM), the study found that after controlling for population factors, the variables of GDP and HDI had a positive and significant effect on PAD. On the other hand, TPT does not have a significant influence on PAD in West Java Province. These results show that West Java's fiscal independence is highly dependent on economic productivity and the quality of human capital. The policy implications are directed at strengthening leading sectors and investing in the quality of human resources to optimize the regional tax base in a sustainable manner.

This research examines the changes in Mongolia’s Knowledge Economy Index from 2019 to 2023, as well as the sub-indicators that influence it, at both theoretical and empirical levels. The theoretical foundation of this research is built upon the theories of the knowledge economy, the national innovation system, and institutional economics. These theories explain economic growth and productivity based on the interconnected roles of knowledge, innovation, human capital, research and development, and the institutional environment. The study utilizes data from international and national organizations such as the World Bank, Global Economy.com, and the National Statistics Office of Mongolia. Using trend analysis, comparative analysis, and SPSS-2024 graphical analysis methods, the research calculates changes in the four pillar indices of the knowledge economy: education, innovation, information technology, and the institutional environment. The results show that Mongolia’s Knowledge Economy Index increased from 3.95 to 4.21 between 2019 and 2023. However, insufficient investment in innovation and research and development has limited further improvement of the index. Among the four pillars, the innovation index remains at the lowest level, indicating weaknesses in R&D expenditure, the quality of human capital, and the stability of the institutional environment. The study suggests that to foster the development of the knowledge economy, it is crucial to enhance investment in research and development, cultivate an innovative ecosystem, enhance the quality of human capital, and strengthen institutional capacity.

The article analyzes the components of the traditional approach to human resource management. The emphasis is placed on the need to improve the quality of human capital, which as a result will contribute to economic growth both regionally and socially. Particular attention is paid to the fact that the main factors determining the quality of human capital include highly developed and effectively functioning healthcare and cultural systems that ensure equal access to services for all social groups, as well as increased spending on education. A human resource management approach is proposed that takes into account digital transformation at various management levels, based on the need to invest in improving the quality of human capital.

this article examines the impact of architectural design on the investment attractiveness of urban areas, which is one of the urgent problems of modern urbanism and regional economics, since traditional approaches to assessing investment attractiveness, focused on infrastructural security, logistical accessibility and tax benefits, do not fully take into account the role of aesthetic and spatialcompositional characteristics of urban environment in the formation of investment decisions. Based on the synthesis of urban studies, real estate economics, urban development theory, and behavioral economics, the author examines the mechanisms of architectural design’s influence on key determinants of investment attractiveness: capitalization of land and real estate, the tourist attractiveness of the territory, the attraction of the creative class and high-tech companies, as well as social stability and the quality of human capital.