Funding Source Research Articles

A STUDY ON THE PROSPECTS TO SUSTAINABLE URBAN REAL ESTATE DEVELOPMENT IN FREETOWN, SIERRA LEONE

This research addressed the prospects to sustainable urban real estate development in Freetown, Sierra Leone. The study primarily focused on the following objectives: To identify the sources of accessing finance for real estate development by real estate firms. To learn how the land code of practice and population affect real estate development and to investigate technical constraints in providing real estate projects in Freetown. Data for this study were collected using a primary source, from which a semi-structured questionnaire was used for collecting the quantitative data. The study uses a case study design to achieve the study objectives. A non-probability purposively sampling was used to identify the respondents based on their experience after a line listing process of real estate firms and their employees in Freetown. For the quantitative data, a sample frame of 130 participants was drawn, of which 100 were chosen purposively based on their experience and understanding of real estate development, and 98 participated in the study. Data analysis for this study was done using descriptive (percentage, mean, and standard deviation) and inferential (Pearson correlation and regression analysis) statistical analytical methods. The study established that sources of finance, population impact, and technical constraints in real estate delivery have a positive significant association with urban real estate development, while land code of practice has a positive insignificant association with urban real estate development. The study recommends that, the country's financial institutions popularize a scheme that is of low interest to real estate firms so as to increase the source of income for real estate firms to expand their business; that the national land policy should be reviewed so as to create an avenue for access to land for real estate firms who are willing to provide affordable housing to the country; both the government and real estate firms should work accordingly in order to provide affordable housing for the population, and effective institutional capacity strengthening and enhanced collaboration between government parastatals and private real estate firms should be popularized and implemented. For further research, it is recommended that similar wider study should be done, which will be used for a broader generalization.

Financing diversified water strategies for megacities: the case of Mexico City and rainwater harvesting

Abstract Megacities are increasingly confronted with water supply challenges, requiring innovative and diversified management strategies to ensure sustainability. This study examines Mexico City’s Cosecha de Lluvia program, a government initiative promoting residential rainwater harvesting (RWH). This case study offers valuable lessons for other megacities facing similar water security issues. The study particularly explores result-based financing (RBF) as a promising strategy to strengthen Mexico City’s RWH sector. Despite its potential, research on RBF for water supply diversification remains limited, especially from the perspective of practitioners. To address this gap, the study employs a systems thinking approach supported by qualitative methods, including a literature review and interviews. Thematic networks analysis revealed that RBF could enhance Cosecha de Lluvia by improving monitoring and results measurement, facilitating information exchange, and increasing transparency—key factors for successful water supply diversification. While these identified benefits do not address all of Cosecha de Lluvia’s challenges and RBF could have implementation challenges, there is a clear opportunity for this financial mechanism to enhance programs like the one studied and have a positive impact on several of its elements. As part of the RBF suitability assessment, three different funding sources were evaluated—public, private, and philanthropic—to determine their effectiveness in overcoming Cosecha de Lluvia’s challenges. The findings suggest that no single source of finance markedly influences the program’s effectiveness alone. Instead, a blended financing approach that integrates all three sources is recommended as a strategy to explore further for implementing RBF in water supply diversification efforts. Overall, the study highlights the necessity of diversifying water supply to build climate resilience in megacities. While programs like Cosecha de Lluvia are crucial, significant room for improvement exists. RBF offers a promising mechanism to enhance such initiatives, and its potential merits further exploration.

Employee Ratings and Reviews Data from Glassdoor

ABSTRACT This paper presents the employee ratings and reviews data from Glassdoor and the R codes used to collect, clean, and organize the data. We collect three types of information for each Glassdoor review: review metrics, content, and reviewer information. We also calculate some commonly used textual metrics, such as sentiment, readability, the number of uncertainty words, etc. The datasets include necessary identifiers that can connect to other financial data sources. All the variables and metrics are provided at the review level, which enables researchers to aggregate the data from different levels and angles. As a demonstrative example, we use a simple word list to measure how often employees mention COVID-19 in review comments. The R codes provided as an RStudio project are self-contained and can also be modified and applied to other data sources of interest.

ЗАЛУЧЕННЯ ІНВЕСТОРІВ У ТЕРИТОРІАЛЬНОМУ МАРКЕТИНГУ

In the conditions of economic instability caused by the spread of the COVID-19 pandemic and military actions by the russian federation on our territory, local government authorities feel the impact of the "belt-tightening" strategy implemented by the central government. Faced with their own financial difficulties, the center reduces transfers, which were previously the main source of funds for supporting infrastructure and overall urban development. Therefore, territorial bodies aspiring to development must actively work on creating a positive image of their territory to diversify sources of capital and attract new investors. In this context, territorial marketing to attract investors is promotion (advertising). In turn, promotion is the fourth element of the implementation of territorial marketing, but it requires utilizing the entire marketing mix (the "4P" concept). When considering the first element of the implementation of territorial marketing, it is worth mentioning that many regions of our country can offer themselves to investors through so-called territories with preferential investment regimes. Thus, the task of forming the "territory for the investor" product will include two main components: the territory as a whole and territories with special regimes. To conduct pricing effectively, it is necessary to have a good understanding of investment projects and possess up-to-date information about the market. "Place" - location or placement - is the most complex and difficult concept in territorial marketing. While the placement of the territory cannot be controlled, the flow of resources passing through this territory, forming growth points, can be managed. Certainly, in business, promotion and advertising activities are more technologically advanced than in the public sector, but this is quite natural. There will be no significant differences because attracting a professional from the advertising market for government or local self-government is easier than a marketer working with the strategic block. However, if private practices and techniques are quite successful, more conceptual issues of promotion significantly lag behind. As in business, in territorial product management, it is advisable to use all available means, even if it is a small budget for advertising and a few exhibitions per year. However, marketing of territorial products, especially in attracting investors, is a complex task that is effectively solved comprehensively and sequentially, guided by the marketing mix.

Assessment of Property Taxes and their Impact on Real Estate Investment in Plateau State, Nigeria

Taxes imposed on property in the country are characterised by intricate and complex interactions of both traditional, colonial, and modern-day circumstances, and the revenue generated from these taxes is often an important source of finance for the government. In most developing countries, these taxes have led to multiple taxation due to complex, diverse, inadequate, and imperfect information. Thus, this study aims to assess the various property taxes in practice and their impact on real estate investment in Plateau State, Nigeria. The objectives pursued include identifying the various property taxes along with their administering agencies and assessing the impact of these taxes on property investment. The researchers targeted 90 respondents from an estimated population of one million five hundred in the Greater Jos area, and successfully recovered 68 responses through simple random sampling based on the survey conducted among residents. A questionnaire was used to gather the views of taxpayers on multiple taxation and its effects on land and buildings, and the collected data was analysed descriptively. The results revealed that almost all taxpayers in Plateau State pay taxes to the government consistently and to more than two agencies. Furthermore, all tiers of government have their own forms of taxes collected, which have a direct effect on investment. It is therefore recommended, among other measures, that tax collection should be clearly defined and streamlined with respect to which tier of government is responsible for collecting specific taxes on property occupation. This could help reduce, if not eliminate, the issue of taxing the same property multiple times.

Knowledge Management in Saudi Universities and Its Utilization for Financial Resource Development: A Survey and Applied Study at Najran University

Purpose: The study aims to explore knowledge management in Saudi Universities and its use in enhancing financial resources from the perspectives of leaders and faculty members at Najran University. Methodology: A descriptive-analytical documentary approach and a field survey were used with a questionnaire administered to a stratified random sample of (78) leaders, faculty members, and assistants at Najran University. Findings/Conclusions: Results indicate that knowledge management at Najran University is highly practiced overall. However, the survey shows limited investment of knowledge in financial resource development. Significant gender-based differences were found, favoring females, while no differences were observed based on college, job position, or experience. There remains a significant gap between knowledge management and its use in increasing university resources. Practical Implications: A strategy is needed to leverage intellectual capital in resource development by promoting innovations, utilizing patents, and research centers, transforming knowledge into commercial products, and establishing effective global marketing partnerships. Originality/Value: This study fills a theoretical literature gap and offers practical solutions to convert theoretical knowledge into economic commodities that benefit society, aiding in diversifying funding sources for Saudi, Arab, and developing country universities.

A systematic review of individual, social, and societal resilience factors in response to societal challenges and crises

Societal challenges put public mental health at risk and result in a growing interest in resilience as trajectories of good mental health during stressor exposure. Resilience factors represent multilevel psychosocial resources that increase the likelihood of resilient responses. This preregistered systematic review aims at summarizing evidence on the predictive value of individual, social and societal resilience factors for resilient responses to societal challenges and crises. Eligible studies examined the predictive value of resilience factors in stressor-exposed populations in high-income countries by means of multinomial regression models based on growth mixture modeling. Five databases were searched until August 2, 2023. Data synthesis employed a rating scheme to assess the incremental predictive value of resilience factors beyond sociodemographic variables and other resilience factors. An adapted version of the Newcastle-Ottawa Scale was used for risk of bias assessment. Fifty studies (sample sizes: 360–65,818 participants) with moderate study quality reported on various stressors (e.g., pandemics, natural disasters, terrorist attacks). Higher income, socioeconomic status and perceived social support, better emotion regulation and psychological flexibility were related to more resilient responses. The association between resilience factors and resilient responses was stronger in samples with younger mean age and a larger proportion of women. Most studies used non-representative convenience samples and effects were smaller when accounting for sociodemographic variables and other resilience factors. For many factors, findings were mixed, supporting the importance of the fit between resilience factors and situational demands. Research into social and societal resilience factors and multilevel resilience interventions is needed. Preregistration-ID: 10.17605/OSF.IO/GWJVA. Funding source: Robert Koch Institute (ID: LIR_2023_01).

7395 Developmental Programming: Adverse Effects Of Prenatal Exposure To A Real-Life Environmental Chemical Mixture Via Biosolids On Ovarian Folliculogenesis In Adult Sheep

Abstract Disclosure: Y. Zhou: None. K.M. Halloran: None. M. Bellingham: None. N.P. Evans: None. R.G. Lea: None. K.D. Sinclair: None. V. Padmanabhan: None. The ovarian capacity to provide fertilizable oocytes, regulate folliculogenesis as well as activate and progress primordial follicles into preovulatory follicles are key contributing factors to female fertility and reproductive aging. In sheep, as in humans, while genetics play a role in establishing the ovarian reserve during fetal development, developmental insults such as inappropriate exposure to native steroids or environmental chemicals (ECs) can adversely impact the establishment of the ovarian reserve and, additionally can affect folliculogenesis. Considering humans are exposed to multiple ECs simultaneously which could have additive, synergistic, or antagonistic effects, real-life EC exposure models are needed to assess risks posed by EC exposure. Offspring from sheep grazed on biosolids-treated pasture offers one such real-life exposure model. Studies with day 140 fetuses found maternal exposure to a real-life EC mixture via biosolids increased the proportion of unhealthy transitory follicles (Lea et al., Sci Rep. 2016;6:22279). The present study tested if biosolids exposure during fetal life would impact folliculogenesis, follicle activation and follicle atresia during their adult life. Ovaries were derived from adult EasyCare ewes (age 31.4 ± 0.5 months) whose mothers were grazed on biosolids-treated (BTP, n=10) or inorganic fertilizer-treated (Control, n=10) pastures from preconception through to birth. Ovarian morphometry was undertaken to assess the distribution and health status of follicles. Follicular atresia was evaluated via the expression of Caspase-3, an apoptosis marker. Data analysis utilized Student's t-test for normally distributed variables and Mann-Whitney U tests for non-parametric comparisons. There were no differences in the absolute counts or the percentages of follicle classes at all stages of folliculogenesis, the density of primordial follicles in cortical tissue, or the follicular activation rate. An increase in the percentage of unhealthy activated follicles (post-primordial) was noted in the BTP group (p = 0.014), predominantly in the transitory stage (p = 0.021). Consistent with this, a higher density of Caspase-3 positive primary follicles was observed in the BTP group (p = 0.033). These findings indicate the adverse impacts of fetal exposure to an EC mixture via maternal biosolid exposure on the survival of early-stage activated follicles in adult sheep. The lack of difference in ovarian reserve between the control and BTP groups suggests compensatory mechanisms may be in place to prevent premature depletion of the ovarian reserve. Whether EC mixture exposure via biosolids also has an adverse effect on the quality of the surviving activated follicles remains to be determined. Funding source: NIH R01 ES030374. Presentation: 6/3/2024

Letters of Credit: a Finance Tool for Managing Cash Flow in the Muntinlupa City Business Community

In the 1800s, the Letters of credit materialized in Europe and grew purposely to serve international trade, which flourished since the 1700s despite the non-uniformity of national laws. The reviews of related literature and studies conducted by the researcher, identified various gaps concerning the use of letters of credit: First, there were no studies conducted yet concerning the use of letters of credit as a financial tool for managing cash flow amongst the Business Community in Muntinlupa, City; and, Secondly, no studies were done in the City of Muntinlupa correlating letters of credit as a financial tool in managing cash flow. These led to the development of this pioneering research study in the City of Muntinlupa. This descriptive study aimed to determine the openness of the businesses, banks, and government agencies in the Alabang Muntinlupa area to use letters of credit as a mode of payment to effectively manage the company’s cash outflow. The study had 35 automobile companies and bank financing companies as its primary respondents. The researcher used Cronbach's alpha reliability coefficient for Likert-type scales data analysis tool to test the internal consistency of the questionnaire. A high correlation signaled high internal consistency. There was a significant relationship between the perceived effectiveness of a Letter of Credit and the perceived awareness of benefits, risk factors, and source of funds for letters of credit.

The influence of entrepreneurial education on the development of entrepreneurial intentions of young people

A successful start-up begins with an innovative idea, which is then realized by identifying and seizing an opportunity. Innovation is one of the most crucial entrepreneurial qualities in this type of entrepreneurship. The aim of this paper is to determine the fundamental and specific characteristics of start-up entrepreneurship and to examine the entrepreneurial intentions and knowledge of young people in this field. The empirical research in this paper includes both secondary and primary research. Secondary research involves the presentation of relevant studies in the fields of start-up entrepreneurship and entrepreneurial education. The primary empirical research was conducted on a sample of 160 students from higher education institutions in Međimurje and Varaždin counties. The results indicate that students are relatively well-informed about the possibilities of starting a start-up company. Their personal assessments of their familiarity with the processes involved in starting a start-up are of average value. Additionally, respondents identified administrative procedures, high taxes, lack of knowledge about funding sources, and insufficient information about reference centers as the main obstacles to entering entrepreneurship. By testing the research hypotheses, it was found that attending formal classes in entrepreneurship positively affects the entrepreneurial intentions of young people. The limitations of the research include the restriction of the sample to northwestern Croatia. The findings suggest a further need to strengthen entrepreneurship education and expand it to younger populations in the Republic of Croatia.

Financing green innovation startups: a systematic literature review on early-stage SME funding

ABSTRACT This paper investigates the critical issue of financing early-stage green startups, examining the types of investors and finance models available, the challenges these startups face, and how the green finance ecosystem can better support early-stage investment. Utilizing a systematic literature review (SLR) methodology, we provide a comprehensive analysis of the current landscape. Our findings reveal a significant paucity of data and a bias towards well-established North American and European ecosystems, while highlighting an emerging diversity in private finance sources post-Global financial crisis (GFC), including grants, equity, and crowdfunding. Despite this, there remains a heavy reliance on public funding and a lack of evidence regarding its impact. The inherent characteristics of cleantech – high capital expenditure, long investment horizons, and disruptive nature – necessitate innovative public financing instruments and policies to reduce risk and attract private investment. Our theoretical contribution highlights the necessity for interdisciplinary research and policy collaboration to develop a holistic entrepreneurial finance (entfin) ecosystem. This approach should integrate quantitative economic and qualitative behavioural finance research to address information asymmetries and improve the green economy policy mix. Such a framework will support public-private co-financing, enhance stakeholder engagement, and provide evidence for policy decisions, facilitating more rapid commercialization of cleantech innovations for environmental sustainability.

Reflections on the Challenges of Old-age Security and Policy Options for an Ageing Population

The global phenomenon of population aging is advancing at an unprecedented pace, particularly in China, where the accelerating aging process poses substantial challenges to the existing pension security system. The issue of elderly care has emerged as a critical topic in the realms of society, economy, and politics, impacting national sustainability and social stability. The challenges brought about by an aging society extend beyond the pressures of pension payments and insufficient elderly care services, encompassing risks related to funding sources and management, as well as concerns over the fairness of the security system. In the face of these challenges, there is an urgent need to optimize pension policies, advance pension system reforms, enhance the elderly care service system, and strengthen the coordination between social and medical security to construct a more equitable and sustainable pension security framework. Measures must be collaboratively advanced through top-level institutional design, policy execution efficiency, and societal involvement to provide robust support in addressing the challenges of aging. This paper will delve into the impact of population aging on the pension security system, analyze the current state and shortcomings of policies, and propose strategies to enhance the system's resilience, offering insights and recommendations for strengthening the pension security framework.

Penerapan Manajemen Balance Scorecard (BSC): Studi Kasus di MIS Miftahul Ulum Kec. Serpong Utara Kota Tangerang Selatan

The implementation of Balanced Scorecard (BSC) management at MIS Miftahul Ulum, Serpong Utara District, South Tangerang City is still facing some obstacles. The lack of understanding and accurate data, structured systems, resources, and accountability culture are the main barriers. This has resulted in the suboptimal achievement of strategic goals, such as learning, internal process, customer, and financial indicators that are not yet maximized. The purpose of this study is to determine the extent to which the implementation of Balanced Scorecard (BSC) management at MIS Miftahul Ulum, reviewed from four perspectives, namely: financial, customer, internal process, and learning and growth. This research is qualitative, with data collection methods including interviews, observations, and documentation. Data validity is ensured through triangulation, and data analysis techniques include data collection, data reduction, data presentation, and conclusion drawing. The research shows that the quality of education at MIS Miftahul Ulum, Serpong Utara District, South Tangerang City has improved compared to previously. However, some adjustments need to be made in the implementation of Balanced Scorecard (BSC). Conclusion: MIS Miftahul Ulum focuses on diversifying funding sources, increasing the efficiency of fund management, and increasing income from voluntary donations. Customer satisfaction and making MIS Miftahul Ulum the main school of choice for students and parents. Progress in its internal processes by implementing a quality curriculum, an effective teaching and learning process, and timely completion of teaching and learning tasks, and a quality curriculum provides a strong foundation for students to learn and grow. Effectiveness of the teaching and learning process: An effective teaching and learning process allows students to reach their full learning potential. Timely completion of teaching and learning tasks: Timely completion of teaching and learning tasks ensures that students have enough time to learn and understand the subject matter.

Risk Attitudes and Sources of Finance: Evidence from Non-Farm Household Enterprises in Ghana

ABSTRACT Several theories in economics and finance suggest that risk attitudes play a vital role in economic choices, including being an entrepreneur and the choice of finance for businesses. However, there are limited empirical tests of these theories in the African context, where majority of firms are small and medium-scale enterprises. Using the 7th round of the Ghana Living Standards Survey (GLSS 7), this study estimates the effect of risk attitudes on the decision to own a household enterprise and the choice of finance by owners of household enterprises. The study finds no significant impact of risk aversion on household enterprise ownership. We find risk aversion to significantly influence the use of self-financing as start-up capital; however, after controlling for access to finance, this effect reduces. We also did not find a significant relationship between risk aversion and the use of loan financing as working capital. The findings from this study shed light on the risk management strategy of household enterprise owners and suggest that access to finance is an important determinant of sources of financing. Hence, to spur growth of these critical household enterprises, the essential role of access to finance should be addressed by policymakers.

Demographics and scope of Australian emergency department physiotherapists

QuestionsTo provide workforce data on the status of Australian Emergency Department (ED) physiotherapy practice, including physiotherapist demographic data, staffing levels and funding sources. Evaluate the scope of practice currently undertaken by ED physiotherapists and alignment of ED physiotherapy service provision with demand levels.DesignCross sectional survey.ParticipantsAustralian physiotherapists working within an Australian ED.Outcome measuresWorkforce data, scope of practice and alignment of physiotherapy service provision to ED presentations and demand.Results94 Australian ED physiotherapists completed the survey, 76.9% were working as primary contact clinicians. They had a diverse scope of practice, 100% perform mobility assessments, 89.9% provide care for paediatric patients and 10.1% were involved in administration of medications. 86.2% of participants (75/87) reported working within a service model that provided seven-day per week physiotherapy coverage to ED.ConclusionThe sample of ED physiotherapists were found to be experienced and highly trained clinicians with a diverse scope of practice, who are well placed to meet the unpredictable and highly variable patient caseload of Australian EDs.

Assessment of the relationship between mineral extraction in the southern hemisphere and sustainable development

Sustainable mineral policies are needed to achieve environmental and social equity in the global South. This study explores the need to align mineral mining in the global South with the United Nations Sustainable Development Goals (SDGs). It studies the impact of mineral mining on sustainability in 29 global South economies from 2000 to 2021. It also conducts robustness analysis and heterogeneity tests to analyze the mediation effect and the impact of the release of SDGs on sustainability. The main conclusions are as follows: (1) Mineral mining has an inhibitory effect on sustainable development and has become a constraint for the achievement of sustainable development goals in the global South; (2) The more mineral-rich a country is, the more serious the adverse impact of mining activities is. The harm of mineral mining to sustainable development is most serious in Africa; (3) Mineral mining leads to an increase in ecological footprint and undermines environmental sustainability, while mineral rents may become a source of funds for clean production, offsetting the adverse effects of mineral mining; (4) The release of SDGs has prompted leaders of various countries to legislate and reform in the field of minerals, helping countries achieve sustainable development goals. The research results provide an effective reference for promoting environmental and social sustainable development in the global South.

Association of Upper Gastrointestinal Surgery of Great Britain and Ireland (AUGIS)/perioperative quality initiative (POQI) consensus statement on prehabilitation in oesophagogastric surgery.

Prehabilitation is safe, feasible and may improve a range of outcomes in patients with oesophago-gastric cancer (OGC). Recent studies have suggested the potential of prehabilitation to improve body composition, sarcopenia and physical fitness, reduce surgical complications and improve quality of life. Despite this, prehabilitation services are not offered throughout all OGC centres in the UK. Where prehabilitation is offered, delivery and definitions vary significantly, as do funding sources and access. A professional association endorsed series of consensus meetings were conducted using a modified Delphi process developed by the Peri-Operative Quality Initiative (POQI) to identify and refine consensus statements relating to the development and delivery of prehabilitation services for OGC patients. Participants from a variety of disciplines were identified based on a track record of published studies in the field of prehabilitation and/or practice experience encompassing prehabilitation of OGC patients. Approval from the POQI board was obtained and independent supervision provided by POQI. A total of 20 statements were developed and agreed by 26 participants over a preliminary meeting and 2 semi-structured formal POQI meetings. Ten research themes were identified. In the case of one statement, consensus was not reached and the statement was recorded and developed into a research theme. A strong recommendation was made for the majority of the consensus statements (17 of 20). Consensus statements encompassing the interventions and outcomes of prehabilitation services in oesophago-gastric cancer surgery have been developed to inform the implementation of programmes.

A Conceptual Framework of the Retirement Savings Behavior among Civil Servants in Malaysia

The feasibility of maintaining a comfortable standard of living for civil servants in Malaysia is frequently questioned due to their reliance on pensions as the primary source of retirement funds, which may not suffice to cover the rising retirement costs. To address this issue, civil servants could consider accumulating savings during their working years instead of solely depending on pension disbursements. This academic discourse examines the effect of the independent variables of attitudes towards retirement savings (financial risk tolerance, past behaviours, and subjective norms as psychological elements) and financial considerations (tax incentives) on retirement savings behaviour. Additionally, the research also explores the moderating role of perceived government policy and perceived behavioural control with its antecedents, namely financial literacy, self-control between the independent variables, and retirement savings behaviour among civil servants in Malaysia. Drawing from the extended interactive theory of planned behaviour, amalgamated theories comprising the interactive theory of planned behaviour, rationale choice theory, and the behavioural economic model and existing literature, this article introduces a conceptual framework detailing the determinants influencing the RSB of civil servants in Malaysia. The proposed framework has the potential to benefit various stakeholders, particularly civil servants seeking to prepare adequately for their retirement years.

Трансформация структуры государственного долга по составу кредиторов в странах Центральной Азии и Южного Кавказа

The rapid growth of public debt in developing countries in recent years and the increasing risks associated with this process emphasize the importance of research in this area. The article examines one of the key aspects of public debt management — the structure of creditors’ debt portfolio. The object of the study is the public debt of four countries of Central Asia and three countries of the South Caucasus. The states of this region are important foreign economic partners of Russia, their contribution to mutual trade and realization of joint projects is growing. Their role in the global and regional economy is also expanding, including participation in major transport and logistics projects designed to increase the connectivity of Eurasia. The study is based on the data of international organizations on the total volume of public debt, debt to individual external creditors and the dynamics of macroeconomic indicators. The article examines changes in the structure of the main groups of creditors for each country over three long-term periods and analyzes similarities and differences in the observed structural shifts. It also decomposes the indicator of public debt dynamics and estimates the contribution of the economic growth factor and the effects of changes in countries’ debt to certain groups of creditors. The study identified the following key trends in public debt structural changes: 1) the declining role of bilateral loans from developed and developing countries since the 2000s; 2) the continued strong influence of debt raised from international financial organizations and development banks in most countries throughout the period under study; 3) in a number of countries, a gradual increase in market sources of debt financing (domestic and Eurobonds); the increasing role of loans from China — in the Kyrgyz Republic and the Republic of Tajikistan, etc. The study identifies reasons for these structural changes, and concludes with a discussion of the risks associated with the observed shifts in the structure of public debt.

Impact of Local Government Debt on Regional Innovation and Entrepreneurship: Evidence from China

Local government debt serves as a crucial source of funding for local governments to provide public services and steer regional economic development. Exploring the impact of local government debt on regional innovation and entrepreneurship holds significant practical importance. This paper uses the data of 295 cities in China from 2015 to 2020 and uses the fixed effect model for empirical analysis. Our findings reveal a positive association between local government debt and regional innovation and entrepreneurship. This positive effect is attributed to the amplification of both the venture capital agglomeration effect and the technology agglomeration effect. Moreover, this relationship is particularly pronounced in cities characterized by high fiscal transparency, officials’ promotion pressure, and poor business environment. Ultimately, this paper enriches the existing literature by enhancing our comprehension of the economic implications of local government debt and the factors influencing regional innovation and entrepreneurship. Furthermore, it furnishes empirical evidence regarding the effectiveness of local government debt management in China.