This study analyzes the impact of income inequality on human capital accumulation in developed and developing countries through trade openness. The empirical analysis results are as follows. Income inequality negatively affects human capital accumulation in developed countries. However, in developing countries, income inequality has a positive effect on human capital accumulation. Similar results were derived in both the long term and the short term.Trade openness has a positive impact on human capital accumulation in both developed and developing countries. Meanwhile, in developed countries, human capital accumulation was found to reduce income inequality, whereas in developing countries, human capital accumulation exacerbated income inequality. Trade openness increased income inequality in developed countries, but it mitigated income inequality in developing countries through income redistribution on unskilled workers. These results suggest that under trade openness, human capital accumulation and income inequality interact with each other, and the extent of their impact depends on the stage of economic development.

Objective: To empirically investigate the relationship between education quality and technological progress in the business sector at different stages of economic development. Research Design & Methods: We divided 160 countries into four groups by GDP per capita. The research period was 2007–2021. We use Spearman’s correlation analysis to verify associations between nine indicators for education quality and ten indicators for technological progress. Findings: Our outcomes show that if education quality does not improve, countries do not move up the economic development ladder. Adult literacy, primary education quality, adult skills, and women’s average years in school have the strongest influence on technological progress. Implications / Recommendations: Our paper contains many implications for those seeking to improve social well-being. For example, governments should ensure that women have access to education on equal terms with men. Otherwise, they lose an important source of technological progress and impede the development of human capital. Greater emphasis should be placed on learning how to write and describe reality, read with comprehension, perform simple calculations without a calculator, and teach various learning methods. In the absence of these, the skills of primary, secondary and higher education graduates will not improve. Contribution: The outcomes of our research, both theoretical and empirical, create a multi-faceted approach to the issue of the mutual influence of education and technological progress. They allow us to look at this problem from the perspective of subsequent stages of economic development.

Low-carbon transformation and common prosperity are critical pillars of China’s economic growth. To explore the mechanism relating the two, this paper analyzes how carbon efficiency influences the urban–rural income gap, including its transmission mechanism and heterogeneity, and uses panel data from 240 Chinese prefectural cities (2006–2019). The results reveal an “inverted U-shaped” relationship between the low-carbon transition and urban–rural income gap. Specifically, as the carbon emission efficiency improves, the impact of the low-carbon transition on the urban–rural income gap changes from positive to negative. This finding remains robust under robustness tests. The heterogeneity test indicates that the “inverted U-shaped” relationship exhibits regional heterogeneity, resource endowment heterogeneity, economic development stage heterogeneity, and urban–rural income gap level heterogeneity. Furthermore, urban low-carbon transition influences the urban–rural income gap through industrial structure, employment structure, and human capital. This paper discusses the combination of low-carbon transformation and common prosperity, and takes into account both ecological sustainability and social sustainability. The findings of this paper offer policy proposals for advancing the achievement of dual-carbon goals and common prosperity, and provide references for developing countries.

The article is devoted to the study of the use of derivative financial instruments. At the current stage of the global economic development, derivative financial instruments have become very important due to their advantages. The purpose of the study is to assess the role of derivative financial instruments in the securities market, to study their types and characteristics, and the importance of derivative financial instruments in the financial management system of an organization. The objectives of the study are to study the essence and economic content of derivative financial instruments, to present the main functions of derivative financial instruments and their characteristics, as well as to discuss the main types of derivative financial instruments and their differences.

The framing effect is an important cognitive bias and a key part of the decision-making framework. At the current stage of economic and social development, economic applications of the framing effect can better facilitate decision-making. Through empirical studies and data analysis in a wide range of fields, such as marketing, health care, this paper tries to uncover the mechanisms of the framing effect in decision-making, identify its influencing factors, and explore the application strategies of the framing effect in different fields, and the counter strategies of the framing effect that people can use to avoid irrational decision-making. The results show that the operational mechanisms, effective factors, and strategic usages of the framing effect are obtained. The conclusion in this study strongly supports that the framing effect exerts a great influence on peoples decision-making. The framing effect can simplify the decision-making process and improve the quality of decision-making when applied in a rational way, thus providing rich assistance to decision-making applications in many areas.

As rising CO2 emissions drive global environmental concerns, addressing climate change and ensuring sustainable development requires a nuanced understanding of the relationship between economic development and environmental degradation. This study introduces the sectoral complexity index (SCI) to measure and analyze the sophistication of individual economic sectors and examines their influence on CO2 emissions across 127 countries from 1995 to 2020. By refining the environmental Kuznets curve (EKC) hypothesis through a sectoral lens, the research uses a cross-sectional quantile regression to capture sector-specific environmental dynamics at varying stages of economic development. The results reveal heterogeneous patterns across sectors and income groups. Key industries, such as Iron & Steel, Machinery, Metal Products, and Mining & Quarrying show reduced CO2 emissions with increased sophistication. Notably, the Iron & Steel and Machinery sectors exhibit a strong transition to lower emissions at the upper-middle-income level, while such transitions in the Metal Products and Mining & Quarrying sectors occurs at the high-income level. These results underscore the sectoral and income-specific dynamics of the environment-economy relationship, highlighting the importance of targeted policies that promote technological innovation and green energy transition in energy-intensive sectors. By offering deeper insights into the interplay between economic development and environmental sustainability, this research contributes to the discourse on the environment–economy relationship and informs policy strategies aimed at fostering sustainable economic development.

This study investigates the complex linkage between economic growth, institutional quality, urbanization, trade openness, and Somalia’s ecological footprint from 1990 to 2020. To ensure reliable results, we initially conducted an assessment of the order of integration of our variables through the use of the augmented Dickey-Fuller (ADF) and the Phillips-Perron (PP) stationarity tests, which indicated a mixed order of integration. Following this, we employed the autoregressive distributed lag (ARDL) technique, in combination with the fully modified ordinary least squares (FMOLS) and canonical cointegrating regression (CCR) methods, to investigate the long-term relationships and causal connections between these variables, further supported by the application of the Granger causality test. Our findings indicate that a 1% increase in GDP per capita increases the ecological footprint by 3.79%, while a 1% increase in GDP per capita squared decreases it by 0.05%. This supports the environmental Kuznets curve hypothesis, which means that at higher stages of economic development, the damage to the environment decreases. However, improvements in institutional quality have had minimal and statistically insignificant effects on the ecological footprint. While urbanization showed a considerable impact in the long run, its short-term effects were minimal. Interestingly, trade openness emerged as a positive factor, contributing to a reduction in the ecological footprint over time. To build a sustainable future, Somalia should balance economic growth with environmental protection by prioritizing green technologies, enhancing governance for enforcing environmental regulations, integrating sustainability into urban planning, and promoting trade in clean technologies to reduce its ecological footprint.Graphical abstract

Entrepreneurship is a powerful engine for economic growth, driving innovation, job creation, and increased productivity. By identifying market opportunities and developing new products, services, and business models, entrepreneurs contribute to a more dynamic and competitive economy. In the Indian economy, entrepreneurs are the main drivers of innovation, job creation, and economic growth. Their actions raise many people’s standards of living, enhance productivity, and create money, making them an essential part of India's economic growth. Entrepreneurship is considered as an indispensable element to stimulate economic growth. It not only increases production and gross domestic product but also prompts innovation, employment, wealth creation, standard of living and assists in overall development of the nation. Contrary to general notion, the impact of entrepreneurship on economic growth is not uniform throughout the world. The impact of entrepreneurship on economic growth in developed and developing countries. The stages of economic development and other factors also affect the economic growth of the nations. The purpose of our study is to examine the role of entrepreneurship in economic growth of the country. Taking into consideration the available literature, an attempt has been made to find out the effects of entrepreneurship on economic growth. In this research paper has made an attempt to study the role of entrepreneurship in economic growth and development. It was found that entrepreneurs boost economic growth and development in India by generating employment opportunities, balance economic growth.

The article characterizes the economy of impressions as a new stage of economic development, within which the fourth economic proposal is being formed – impression. The impression takes on a commodity form and has intangible value. It is shown that the economy, including the economy of impressions, is based on a whole complex of individual industries. Industry is a complex of economic structures aimed at producing certain products or services. The economic basis of the experience economy is the creative industries. The authors show that a distinctive feature of creative industries from creative industries is the focus on the commercialization of a creative product. It is shown that among the creative industries, a special place is given to the fashion industry; The fashion industry is distinguished from other creative industries by the large dependence of the success of the result on the material component of the product. The article lists the trends within which the service sector of the fashion industry is developing today. The main ones are: the formation of the concept of “circular fashion”; increasing the mobility of manufacturers in the fashion industry services; creation of fashion art objects; digitalization of the fashion industry.

While economic inequality has gained prominence in the contemporary development debate, the reasons why the degree of tolerance for inequality varies among countries remain an unresolved issue. This knowledge gap has resulted in excessive policy emphasis on inequality in some countries where absolute poverty is rampant. The purpose of this paper is to address the issue through multi-economy panel data analysis using an analytical framework that draws on Hirschman’s (1973) assertion on the “changing tolerance for income inequality in the course of economic development.” Tolerance for inequality is measured by societal perceptions of inequality using data from the World Values Survey. The results suggest that the willingness to accept inequality remains positive at the early stage of economic development, when inequality is increasing, and then tends to turn negative. The results are robust to alternative specifications and measures of income inequality.

The Free Trade Area (FTA) strategy and the participation of enterprises in global value chains (GVCs) are important aspects of China’s high-quality economic development stage. This study matches trade data from the China Customs Import and Export database with information from listed firms in the CSMAR database, calculating the firms’ GVC embeddedness and the depth of trade agreements at the firm level. On this basis, this research employs a gravity model with fixed effects to empirically analyze the impact and mechanism of the FTA strategy on the embedding of Chinese listed firms in GVCs, utilizing data from 2000 to 2006. The results demonstrate that the FTA strategy substantially enhances the embeddedness of Chinese listed enterprises in GVCs. The heterogeneity analysis indicates that state-owned enterprises, those located in the central and western regions, manufacturing firms, and high-tech industry enterprises derive greater advantages from the FTA strategy in terms of their embeddedness in GVCs. Moreover, the mechanism analysis indicates that the FTA strategy enhances the embeddedness of enterprises in GVCs by increasing their technological innovation levels. Additionally, the internal control costs of enterprises negatively moderate the impact of the FTA strategy on their embedding in GVCs, and a “substitution effect” exists between asset operating efficiency and the FTA strategy in promoting the GVC embedding of listed firms. These findings provide empirical evidence and policy recommendations for the Chinese government to enhance the FTA strategy and sustainably improve the embeddedness of Chinese listed enterprises in GVCs.

As China’s economy transitions into a stage of high-quality development, the shift from a factor-driven growth model to an innovation-driven one has become crucial. This paper utilizes panel data from 258 cities in China spanning from 2004 to 2019 to investigate the impact of growth targets at different stages of economic development on regional talent allocation. Additionally, it explores whether long-term innovation-driven strategies can counterbalance the imbalances in regional talent allocation caused by short-term growth target constraints. The findings of this study are as follows: (1) Economic growth target constraints significantly hinder regional talent allocation, with particularly pronounced effects in non-capital and non-innovative cities. Conversely, innovation-driven approaches substantially enhance talent allocation efficiency, demonstrating stronger impacts in non-capital cities and innovation hubs. (2) Mechanistic analysis reveals dual pathways: Growth targets exacerbate local protectionism and market fragmentation, thereby impeding marketization processes and talent mobility. In contrast, innovation-driven strategies foster industrial agglomeration upgrading, creating self-reinforcing cycles for talent concentration. (3) Moreover, the impact of innovation-driven on regional talent allocation is influenced by the intensity of economic growth target constraints, showing a threshold effect. Specifically, the higher the intensity of local economic growth target constraints, the smaller the effect of innovation-driven on regional talent allocation.

ABSTRACTThis study investigates the interplay between economic growth and environmental sustainability by exploring the Environmental Kuznets Curve (EKC) and Environmental Load Capacity Curve (LCC) hypotheses on a global scale. Leveraging panel data from 146 countries spanning 1990–2022, the research employs advanced econometric models to analyze how key factors—renewable energy consumption, technological innovation, trade openness, and population aging—affect carbon emissions and ecological resilience. The results confirm the validity of the EKC and LCC hypotheses by carbon emissions follow an inverted U‐shaped trajectory with per capita GDP, reaching an inflection point at $9239.99; the load capacity factor demonstrates a U‐shaped relationship, rebounding at $27,345.71 per capita GDP; additionally, renewable energy is shown to have a long‐run positive impact on environmental load resilience, while its carbon reduction effect is stronger for countries in earlier stages of economic development (the effects are −0.1492, −0.1332, and −0.8034). Technological innovation, although negatively correlated with load capacity before the EKC inflection point, contributes positively to environmental improvement after this point. Trade openness demonstrates a stronger emission‐reducing effect in advanced economies (the effects are −0.2014 and −0.1252), while the influence of population aging is heterogeneous—enhancing environmental outcomes in strongly decoupled countries but exacerbating degradation in non‐decoupled regions. Moreover, the research confirms the existence of a lagged coupling relationship between the inflection points of the EKC and the LCC. The decline in carbon emissions after the EKC inflection point will promote the emergence of the LCC inflection point. Finally, these targeted strategies are proposed.

<p>As an important vehicle for implementing the Belt and Road Initiative (BRI), inbound tourism not only promotes economic growth among participating countries but also plays a significant role in optimizing the flow of production factors and enhancing green low-carbon cooperation. Based on the panel data encompassing 66 countries along the BRI from 2009 to 2019, we use the two-way fixed effects model, dynamic panel model, panel threshold model, instrumental variable model, moderating effects model,<em> </em>spatial econometric model, and double machine learning model to investigate the nonlinear impact, mediating mechanism, and spatial spillover effect of inbound tourism on carbon emissions. Results indicate that the development of inbound tourism has an inverse U-shaped nonlinear influence on carbon emissions, and this influence remains credible after robustness testing and endogenous control. Moreover, this effect varies significantly across countries with different geographical conditions and economic development levels. Mechanism analysis indicates that inbound tourism can reduce carbon emissions by upgrading industrial structure, enhancing environmental regulatory, and fostering technological innovation. The application of spatial durbin model reveals the spatial spillover effect of inbound tourism on carbon emissions of neighboring countries. Based on the above conclusions, this paper argues that it is necessary to consider the differences in economic development stages and location characteristics among countries, formulate targeted tourism development policy systems, and establish a cross-border collaborative governance framework for tourism-related carbon emissions. This will promote the synergistic advancement of high-quality tourism economic development and low-carbon emission reduction in the BRI countries.</p>

The intensification of livestock production is globally on the rise, driven by increased demand and urbanization. This presents a large potential threat to animal welfare, environmental sustainability, and public health, particularly in the developing world where the increase in intensification is most prominent. However, it remains unclear whether policymakers have tools to limit intensification even as their country or state increases in wealth. In this paper, we address the knowledge gap: is it possible for countries or states to develop economically while keeping livestock intensification low? We test whether there exist any jurisdictions that have maintained unexpectedly low levels of livestock intensification, after statistically accounting for wealth and other demographic and agricultural variables. Using India’s egg and chicken meat industry as a case study due to its immense size and its intermediate stage of economic development, we successfully identify a number of states that have developed economically while maintaining low levels of chicken intensification. Subjecting these Northeastern states to a deeper examination, we find that these states have deliberately pursued policies prioritizing organic agriculture and environmentally sustainable methods of production. While there are hurdles and limitations to implementing these organic policies, the examined jurisdictions offer promise for policymakers seeking to keep levels of intensification low and maintain good animal welfare as countries develop.

Purpose: This empirical investigation based on the current stage of economic development indicates that FDI has important impact on the country of destination's stable, high-quality and healthy economic growth. Any nation that is involved in the process of economic globalization is therefore trying to develop a competitive business environment in the country to draw further foreign investments. Design/Methodology/Approach: the main objective of this study is based on Institutional quality or Evidence and I selected 5 factors Institutional Metrics like Control of Corruption, Government Effectiveness, Political Stability, Regulatory Quality, Rule of Law from DPIIT website (Secondary Data) for the period 2018-2023. We are Using stalactitical tools like Unit root Test, ARDL Approach & SEM. Originality/Value: This study applies Least Squares regression (OLS): The study examined the impact of institutional factors influence on the FDI flows. The study has considered the ordinary least square method to know the impact of institutional factors (independent variables) on FDI flows (dependent variable). Findings: The study found with the help of ARDL model that the Institutional indicators had are having the positive coefficient value and stated that Institutional Metrics of corruption and Govt. effectiveness are institution indicators which shown short run association with FDI flows, The study examined that Political stability f-statistic value is falling above the upper peasant table (i.e., 7.4578 > 4.16) which states political stability has a long run association with FDI flows, Institutional Indicators such as Rule of law, Regulatory Quality and Voice & accountability had a long run association with FDI flows. Keywords: FDI, Institutional Metrics, Economy Growth, SEM Model.

This article analyzes the novel "Me and My Destiny" (2021) by the Chinese writer Liang Xiaosheng (b. 1949). Particular attention is paid to the reflection of the dynamic life of Chinese society during the era of economic changes in the late 20th and early 21st centuries. As the action unfolds across multiple settings, including a poor village and Shenzhen as it develops into a modern metropolis, this literary text reflects the ways of achieving prosperity in different social strata. The novel's central theme of the path to prosperity originates from the "literature of reforms" popular in China in the 1980s, when the first literary experiments were a response to Deng Xiaoping's reforms, the majority of which were aimed at combating poverty. The second wave of socio-economic transformations in the PRC began with Xi Jinping's rise to power in autumn 2012, who formulated the idea of the "Chinese Dream of the great rejuvenation of the Chinese nation." Through the application of content analysis and quantitative lexical analysis of the text, the issues and themes that concern Liang Xiaosheng were identified. The significance of the theme of enrichment and poverty alleviation is confirmed by the fact that the word "money" is used 428 times. For comparison, the word "destiny", which is part of the novel's title, is used 155 times. Liang Xiaosheng's novel "Me and My Destiny" is the author's latest work and has not yet been studied in Russian scholarship. The study demonstrates a comprehensive reflection in the novel of the main stages of China's economic development from the 1980s to the 2010s, making it a valuable source of cultural and sociological information about sentiments in Chinese society. The focus on the theme of poverty alleviation aligns with both China's social and cultural agenda and the objectives of the reform and opening-up policy. However, the novel does not bear the hallmarks of a commissioned work but is rather a manifestation of the author's civic and creative stance. Comparing Liang Xiaosheng's novel with the works of Dong Xi, Liu Zhenyun, Mo Yan, and Sheng Keyi, it is evident that while depicting inequality and labor migration, the author emphasizes the successful overcoming of material and moral challenges.

The purpose of this study is to evaluate the impact of foreign direct investment (FDI) and economic growth (GDP per capita) on Vietnam’s export performance over the period from 1996 to 2023. Employing a quantile regression approach alongside the traditional OLS method, the research aims to explore how these effects vary across different levels of export distribution. The findings reveal that GDP per capita has a consistently positive and statistically significant impact on exports across most quantiles (particularly from Q20 to Q90) and in the OLS model. This underscores the critical role of economic development and national production capacity in enhancing export performance. In contrast, the influence of FDI is found to be heterogeneous and less stable. In the lower quantiles (Q10 to Q70), the effect of FDI is largely insignificant or even negative. However, at higher quantiles particularly Q80, FDI exhibits a strong, positive, and highly significant impact. This indicates that FDI contributes more effectively to export growth when the economy reaches a higher level of development and absorptive capacity. Overall, the study highlights the asymmetric effects of FDI and GDP on exports and underscores the importance of tailored policy interventions based on the stage of economic development.

The implementation of the international One Belt – One Road project, initiated by the Chinese leadership in 2013, will certainly have a global geoeconomic effect. The purpose of this article is to analyse urbanisation processes in the participating countries located on the routes of the great Silk Road and Tea Road. In the study, based on literary sources and by generalizing the results of satellite imagery, rates of development of urbanisation processes were considered using as examples the capital cities of the participating countries: Beijing (Peoples Republic of ChinaRC), Astana (Kazakhstan), Ulaanbaatar (Mongolia) and Ulan-Ude (Russia). The choice of cities is an attempt to conduct a time slice of the dynamics of urban spatial development of cities with differing populations and levels of development.The results obtained indicate that urbanisation processes have common features that meet modern trends and the main historical stages of economic development. At the same time, there are significant differences in the dynamics of development due to socio-economic, political, and historical-geographical factors. In the development of urbanisation processes, taking into account global challenges, it is necessary to take into account the individual regional geographic features, as well as national and international geopolitical interests.

In the industrialization process of our country, the iron and steel industry plays the pivotal main force role, provides the solid guarantee for the high-speed growth of the national economy. With the arrival of the stage of high-quality economic development, the problems of overcapacity and environmental pollution in the steel industry and the "double carbon" goal, energy conservation and emission reduction in the new era have produced contradictions and conflicts, and the steel industry as a heavy pollution urgently needs to explore the road of green transformation, in order to comply with the main theme of green development of The Times.