Stimulate Job Creation Research Articles

Integrating Industry 4.0 for Sustainable Localized Manufacturing to Support Saudi Vision 2030: An Assessment of the Saudi Arabian Automotive Industry Model

Saudi Arabia aims to build a sustainable and diversified economy by 2030. The automotive industry presents a key opportunity to achieve these goals through localization and the adoption of Industry 4.0 technologies. This research analyzes the impact of a developed localized production model for the automotive industry. The model promotes economic sustainability through domestic manufacturing, job creation and reduced oil dependence; environmental sustainability via the Industry 4.0 approach, which enhances customization, and social sustainability by developing human capital, transferring advanced technologies and stimulating job creation, thereby balancing the three spheres of sustainability. To attain the aim of the research, data were collected from 106 Saudi automobile companies. For the data collection, a questionnaire was designed, and authentication was performed according to the average level of use of Industry 4.0 and analysis of the level of implementation of the developed localized production model for the automotive industry of the Kingdom of Saudi Arabia. The results shows that large automobile companies in the Kingdom of Saudi Arabia are employing the developed localized production model more than medium and smaller automobile companies, and as a result of this model employment, automobile companies’ customer satisfaction through customization and revenue has improved in an agile and lean manner.

An Application of the First-Order Linear Ordinary Differential Equation to Regression Modeling of Unemployment Rates

The unemployment rate investigates the relationship between labor market outcomes and poverty, evaluates the effect of labor market policies and programs, and provides ways to improve their performance. This study analyzes data-driven regression modeling for the economy, specifically the first-order linear ordinary differential equation (ODE). Consider a collection of actual data for the Ilocos Region's unemployment rate and calculate the numerical derivative. Then, a general equation for the first-order linear ODE is presented, with two parameters that will be determined using regression modeling. Following that, a loss function is defined as the sum of squared errors to reduce the difference between estimated and real data in the presence of fluctuations. After this, a loss function is defined as the sum of squared errors to minimize the differences between estimated and actual data. A set of necessary conditions is derived, and the regression parameters are analytically determined. Based on these optimal parameter estimates, the solution of the first-order linear ODE, which matches the actual data trend, shall be obtained. The observations show that the relationship between the actual data and the adjusted predicted regression dynamics closely matches. Results also indicate that the new insight includes the analysis of fluctuations in the unemployment rate for regression modeling dynamics. This research helps Filipino economists provide insights and inform policy decisions aimed at the labor market, and they can focus their efforts on improving these indicators to stimulate job creation and reduce unemployment.

Natural Resources and Sustainable Tourism: Opportunities in Kroczyce Commune, Poland

This study aimed to evaluate the tourism potential of Kroczyce municipality, Poland, with a focus on its natural attractions and their role in fostering sustainable tourism. Kroczyce, chosen for its pristine natural features, presents an ideal case for examining the integration of sustainable practices in tourism. The research confirmed that the municipality’s natural landscape, rock formations, water reservoirs, protected areas, and caves are significant tourist attractions and sustainable assets. Additionally, it revealed a strong awareness among residents and visitors of the importance of sustainable tourism. The study’s findings suggest that local authorities can effectively develop Kroczyce as a sustainable tourism destination. This development involves investing in eco-friendly infrastructure, promoting conservation, and engaging the local community, ensuring tourism aligns with environmental conservation. Such an approach not only enhances the tourist experience but also preserves the natural ecosystem for future generations. Furthermore, transitioning Kroczyce into a nature tourism hub could yield substantial socio-economic benefits. The expected increase in tourism can stimulate job creation, boost local trade, and improve amenities, contributing positively to the region’s overall development. This case study provides a roadmap for similar municipalities aiming to develop sustainable, nature-based tourism.

Relationship Between Entrepreneurial Competencies and Entrepreneurial Intention Among South African University Students: A Gender Perspective

Promoting entrepreneurial activity is considered vital for stimulating job creation, innovation, and economic development. However, prior research emphasises the importance of entrepreneurs’ confidence in their capability or skills as a driver in their decision to launch a new venture, and in facilitating opportunity recognition on which the entrepreneurial process rests. Thus, success in launching, managing, and ensuring the survival and growth of a new venture is dependent on entrepreneurs’ competencies. Entrepreneurial competencies can be a differentiating factor between individuals with strong entrepreneurial intentions and those who have no entrepreneurial intentions. Despite the broad nature and variety of entrepreneurial competencies, there is some consensus among researchers that entrepreneurial competencies are learnable, and they can be developed through entrepreneurship education. Due to the realisation of their importance, there has been growing concerted research efforts directed at uncovering the nature and types, and the role of entrepreneurial competencies in achieving venture performance, and how they can be taught. Despite the fact that individuals can be taught to acquire entrepreneurial competencies, there is paucity of research on the effect of entrepreneurship education on entrepreneurial competencies. The objectives of the study were to determine gender differences in entrepreneurial competencies and entrepreneurial intention, test the relationship between gender and entrepreneurial competencies, to determine the effect of entrepreneurship education on entrepreneurial competencies and entrepreneurial intention, and the relationship between entrepreneurial competencies and entrepreneurial intention. The study was conducted based on a quantitative survey in which 585 South African university students completed a structured questionnaire. Data were analysed using the Statistical Package for the Social Sciences (SPSS) by means of regression analysis, Mann-Whitney U test and descriptive statistics. Findings indicate that entrepreneurial competencies had a significant positive relationship with entrepreneurial intention. Entrepreneurship education had an insignificant relationship with entrepreneurial competencies, and no significant differences were found between entrepreneurial competencies of the respondents who had had entrepreneurship education and those who did not. The results further revealed that gender had a significant positive relationship with entrepreneurial competencies. Additionally, the results revealed significant gender differences in entrepreneurial competencies and entrepreneurial intention.

Visioning the future of Aquaculture in Hawai‘i

The University of Hawai‘i Aquaculture Program and the National Oceanic and Atmospheric Administration’s (NOAA) Hawaiian Islands Humpback Whale National Marine Sanctuary (sanctuary) co-hosted “Ho‘olālā i ka mahii‘a o kēia mua aku”, a workshop focused on visioning the future of aquaculture in Hawai‘i. The workshop offered an opportunity to bring diverse stakeholders together to facilitate a dialogue on issues regarding aquaculture in Hawai‘i and to build relationships to promote future collaborations. Topics of discussion included food safety and security - sustaining local communities by enhancing locally produced and consumed foods; stimulating job creation while conserving natural and cultural resources, existing and future aquaculture projects, considerations for project siting and national aquaculture policies. A Workshop Advisory Team (WAT) was formed to plan the workshop and was comprised of cultural advisors, community and stakeholder representatives, and state and federal agency representatives. The WAT identified a workshop process, content, and potential participants. The workshop was the first of a series of planned discussions and brought together cultural and fishpond practitioners, community members, farmers, business and food industry representatives, subject matter experts, state and federal agency representatives and marine resource managers. The first day of the workshop was an information-sharing day open to the public. The format included presentations and panel discussions with opportunities for questions and answers. Presentations were provided on topics including: • Historical context of aquaculture in Hawai‘i • Current aquaculture activities in Hawai‘i • A national perspective of aquaculture • The role of the Department of Land and Natural Resources in the oversight of aquaculture in the State of Hawai‘i. Panel discussions included: Native Hawaiian aquaculture practices; today’s open ocean aquaculture; and cultural and environmental considerations in aquaculture practices. The remaining two days of the workshop focused on identifying common ground among the diverse participants to stimulate value-based discussions among multiple stakeholder groups. The remainder of the workshop focused on the Appreciative Inquiry (AI) strategic planning process for invited participants. Appreciate Inquiry is a process that identifies areas of common ground within a diverse group and is highly effective in stimulating discussions based on shared values among multiple stakeholders through a series of iterative and interactive sessions. The “Ho‘olālā i ka mahii‘a o kēia mua aku” workshop provided an opportunity for diverse stakeholders to expand participation in aquaculture-related conversations that involve cultural, community, economic, and natural resource interests. By utilizing the Appreciate Inquiry strategic planning process, facilitators worked with participants to identify commonalities and shared values that promote relationship building and allow for future collaborations. Discussions served to share and increase participants knowledge of a variety of issues including food safety and security - sustaining local communities by enhancing locally produced and consumed foods; stimulating job creation while conserving natural and cultural resources, existing and future aquaculture projects, considerations for project siting and national aquaculture policies. Additionally, it was recognized that although the workshop was an important step in visioningthe future of aquaculture in Hawai‘i, ongoing discussions will have to include additionalcommunities and stakeholder representatives to engage others in the process. To that end, fishpond revitalization and restoration were recognized as an important issue for many participants and there was agreement that a follow-up workshop should be planned for fishpond practitioners and agencies to discuss obstacles and challenges to fishpond restoration. This workshop will serve as an important venue to continue sharing knowledge and experiences relative to engaging community members to provide input in considering the future of aquaculture in Hawai‘i. This report provides an account of “Ho‘olālā i ka mahii‘a o kēia mua aku” workshop, a historical context and information on current aquaculture activities in Hawai‘i, and supplemental information regarding aquaculture projects globally. The intent of the report is to provide transparency and share information more broadly with those who did not participate in the workshop.

Youths’ participation in agrobusiness in Ondo state

The important role small businesses and entrepreneurship play in stimulating job creation, economic growth, poverty alleviation and general uplifting of living standards has been recognized both internationally and in Nigeria. The study aimed to analyze youths participation in agribusiness; a case of cassava production in Ondo State, Nigeria. Data were collected using questionnaires which were administered to the respondents. A total of 120 youths involved in cassava production under Ondo State Wealth Creation Agency (WECA) were purposively selected and administered the questionnaires. Descriptive statistical tools such as frequency distribution, percentages and regression analysis were used for analyzing the data. The results revealed that majority (65.8%) of the respondents were within the age range of 26-35 years of age and male (65.8%). With respect to their marital status55% were single, while 45% were married. Also 0.8% of the youths had attained junior secondary school education and the rest (96.7%) had education above junior secondary school level and 2.5% others. Farm output of less 200 and between 200-400 cassava roots was found to be the average yield while the annual income was equal or greater than N35, 000. Results of the regression analysis show that only farm experience had significant relationships with the respondents’ levels of cassava production. They constituted the R2 value of 0.79. It was recommended that credit facilities should be provided to the youth. Modern farm inputs and implements should also be timely provided at affordable rates. Various states of the country should develop strategies targeting improving the literacy levels of farmers through workshops, seminars and other training programmes to motivate and encourage the youth involved in cassava production.

PENYULUHAN DAN PELATIHAN TEKNOLOGI PEMBENIHAN DAN PENDEDERAN IKAN GABUS DI DESA SUNGAI BADAK, KABUPATEN MESUJI, PROVINSI LAMPUNG

Pokdakan Maju Bersama Mesuji, which is in Sungai Badak Village, Mesuji District, Mesuji District, Lampung, is a group of economically productive people and potential entrepreneurs with fish farming activities in the form of growing consumption fish and local fish, especially snakehead fish. The difficult problems in the development of snakehead culture in Sungai Badak village, Mesuji Regency, are the limited availability of seeds and the slow growth of fish. These cause the business to be carried out on-off or suffer losses. This community service aims to increase the knowledge and skills of pokdakan members in producing continuous and quality snakehead seeds independently and stimulate job creation. This activity was carried out through Focus Group Discussions, and organizing counseling and training on snakehead fish hatchery technology and increasing the growth of snakehead fish with the application of recombinant growth hormone. Participants were given a written test to measure how successful the technology transfer is. The results obtained from this activity were that the knowledge and skills of the trainees increased from an average score of 58 to 85 in hatchery technology transfer (32%) and increased from an average score of 35 to 66 in the transfer of recombinant growth hormone application technology (31%) (scale 0- 100). The increase in the value of these participants is presumably because most of the participants are fish cultivators who are used to carrying out aquaculture activities but do not know the basics. So that with this activity it is hoped that it can improve the economy of cultivator families and make Mesuji Regency a fish center and support inclusive and sustainable economic growth. In general, the two technology transfers in this activity increased the percentage of participants' knowledge and skills by 31.5% and this activity was successful.

THE IMPLICATIONS OF REMOTE WORK: AN ANALYSIS OF NIGERIA AND THE USA

In the digital era, remote work has rapidly expanded, leading to important economic changes. This study delves into the complex effects of remote work on several economic components such as productivity, cost-effectiveness, employment prospects, and work-life equilibrium. It discusses both the advantages and the complexities involved in remote work, with consideration for elements such as technological progression, corporate tactics, and the influence of worldwide incidents like the COVID-19 pandemic. This research illuminates the economic outcomes of remote work in both advanced and emerging markets, particularly focusing on Nigeria and the USA, through an in-depth review of existing scholarly work. The research indicates that remote work can improve efficiency, lower running expenses, and stimulate job creation. Additionally, it affords employees more flexibility, enhances the balance between work and personal life, and facilitates labor market participation without geographic limitations. Nevertheless, to fully exploit the economic gains of remote work, issues related to communication, coordination, and social isolation must be appropriately addressed. This research underscores the necessity of policy initiatives, business strategies, and technological evolution to augment the economic benefits of remote work and mitigate its drawbacks. By comprehending the economic ramifications of remote work, policymakers, companies, and individuals are better equipped to utilize its potential for economic expansion, resilience, and enhanced living standards.

Automation and the employment elasticity of fiscal policy

This paper investigates whether automation (the use of industrial robots in production) makes fiscal policy less powerful for stimulating job creation. It posits that a fiscal stimulus will lead to fewer new jobs if the supplementary demand that it creates can be met by using more robots in production processes. Using data for 18 European countries over recent decades, including data on the use of industrial robots, our results show three main findings. First, the pace of automation for the average country in the sample has halved the sensitivity of employment to fiscal stimulus. Second, manufacturing industry employment reacts less to fiscal stimulus in the presence of rapid automation as the average substituability between labor and machines is relatively higher. Third, low-skill jobs as well as women employment are less sensitive to fiscal stimulus in the presence of rapid robot use. We conclude that the effectiveness of fiscal policy in expanding job creation faces an important challenge in a world undergoing structural changes such as the rapid pace of automation.

Franchising as a strategy for job creation in the clothing sector: A case study of Walvis Bay

The franchise business model enjoys much support in both developed and developing countries. It is considered by many as a key contributor to economic growth and is also perceived as a vital vehicle for job creation. Unemployment rates in Namibia are currently a cause for concern and approaches are needed to stimulate job creation. This study reports on perceptions of franchising as a job creation strategy within the Walvis Bay area. The study employed a mixed method research design and used a survey questionnaire and semi-structured interviews to collect data. A total sample of n=110 completed the questionnaire, while n=6 participants were interviewed. The study results indicate a rapid growth and awareness of the franchise model in the food sector, while less growth was evident in the clothing sector. The franchise model was however, seen as a key avenue for stimulating economic growth and viable job creation strategy. Stronger incentivization is recommended, specifically in the areas of tax exemptions, export processing zones, introduction of specific franchise legislation and more expansive monetary and fiscal policies.

Definitions matter: Including the socio-economic dimension as a critical component of SADC circular economy definitions

Globally, scholars agree that there is a lack of clarity on the notion of the circular economy (CE) and a lack of consensus on a foundational definition of the term. Some definitions place greater emphasis on the socio-economic dimension of the CE than others. In Africa, notions of the CE are still evolving. This paper highlights the salient aspects of texts defining or informing the CE in the Southern African Development Community (SADC). In Africa, the transition to circularity is motivated by the need to stimulate job creation and income generation. At the same time, concern over mounting environmental impacts is increasing. Economic and population growth on the continent, continued urbanisation, and the resulting proliferation of municipal waste contribute to these economic, social and environmental challenges. African governments, business communities, civil society and academia need to collaborate on initiatives that build on circularity principles to advance sustainable development in pursuit of equitable and just societies. This exploratory semi-systematic literature review contributes not only to developing notions of the CE in Africa, but also to the dialogue on circularity in the Global South. In particular, it investigates the extent to which the socio-economic dimension is incorporated in notions of the CE. Moreover, it argues that a strong emphasis on this dimension is imperative in the conceptual development of circularity on the African continent. We argue for the future foregrounding of definitions of the CE that are consistent with social transformation as an aspiration in regional legislative and regulatory frameworks.Significance: Contributes to conceptualisation of the CE in the Global South. Indicates how SADC policy dictates the importance of the socio-economic dimension as a regional priority, and therefore signals the primacy of this aspect in the development of a contextual notion of CE. Includes a review of grey literature related to the SADC region in the analysis of the notion of the CE.

Digital Skills and Self-employment among Graduates of Technical Higher Education Institutions in Tanzania

Digital skills are the driving forces for innovative, inclusive and sustainable growth through innovations and digitalization which in turn stimulate job creation, alleviate poverty, reducing inequality, facilitating the delivery of goods and services. However, large number of graduates is shown to be weak in digital skills in the industry hence affect their employability including self-employment. Recently, the Technical Higher Education Institutions (THEIs) took some initiatives to instill the digital skills to their respective students. This study therefore assessed the level of competence of digital skills among graduates following the initiatives taken by the THEIs and their influence on self-employment. It specifically identified the digital skills and ranking the digital skills acquired by the graduates when in the THEIs. It likewise established relationship between digital skills and self-employment among the graduates. The data were collected using a questionnaire from 500 graduates sampled through a stratified random sampling technique. The collected data were analyzed using Descriptive Statistics and Chi-square. The findings show that, the surveyed graduates acquired basic digital skills (i.e. creating professional online profiles, word processing, using keyboards and touch-screens, managing privacy settings, emails) to the large extent (53%); intermediate digital skills (i.e. desktop publishing, digital graphic design, digital marketing) to the small extent (52%) and advanced digital skills (i.e. big data, artificial intelligence, digital entrepreneurship, cybersecurity, internet of things, virtual reality) to the very small extent (54%) when in the college/university. Furthermore, intermediate and advanced digital skills were ranked higher as digital skills for self-employment by the graduates. All three digital skills were found positive and significant for self-employment among the graduates in Tanzania. The study recommends that, the colleges, institutes and universities should emphatically inculcate all the digital skills to the students as they are both significant for self-employment of their respective graduates.

ЗАХОДИ ПОЛІТИКИ, СПРЯМОВАНІ НА ВИРІШЕННЯ ПРОБЛЕМ ПРОДОВОЛЬЧОЇ БЕЗПЕКИ В УМОВАХ УПОВІЛЬНЕННЯ ЗРОСТАННЯ ЕКОНОМІКИ ТА ЕКОНОМІЧНИХ СПАДІВ

The consequences of the COVID-19 pandemic were the most devastating for food security and nutrition as a result of unprecedented depth and scale of economic downturns caused by pandemic measures. They have caused an economic downturn in 2020 in most countries around the world: per capita incomes have fallen more than ever in recent years.There is not enough scientific work aimed at comprehensively solving the problem in the economic, technological, environmental and social spheres that determine the factors and, accordingly, measures to eliminate or mitigate the effects of economic downturns, increase the resilience of food systems. The aim of this work is to deepen theoretical and methodological approaches and develop policy measures, determine the expected results and systematize implementation tools aimed at addressing food security and malnutrition in a slowdown and economic downturns. The study found that policy measures aimed at addressing food insecurity and malnutrition in the context of slowing economic growth and economic downturns include: policy measures aimed at the main channels of transmission of the impact of slowing economic growth and economic downturns; stimulating complex structural transformations in order to reduce economic vulnerability; cross-sectoral policies aimed at tackling food insecurity and malnutrition, with a special focus on poverty and inequality; making the most of trade for food security and nutrition. The main expected results of such measures are: curbing the rise in food prices or compensating for its consequences; stimulating job creation and increasing incomes; financial feasibility and sustainability of countercyclical policy; developing a balanced policy and ensuring balanced investments in favor of complex transformations. Poverty reduction policy measures are proposed, focusing on each of the main aspects of food security: physical availability of food; economic and physical access to food; food use; stability of the other three dimensions over time.

Market development of the economy of the eu and Ukraine: asymmetry and ways of overcoming it

The goal of this article is to develop practical, scientific and methodological recommendations to improve the market development of Ukraine and reduce the divergence of its economy in relation to the EU economy. Research methodology includes: system-structural and comparative studies (to understand the logic of the functioning of modern market institutions in Ukraine and Europe); monographic analysis (in the study of approaches to improve the market development of the Ukrainian economy); statistical and economic analysis (when carrying out a rating assessment in relation to economic freedoms and competitiveness of the Ukrainian economy). Scientific novelty: it was revealed that the state of market development of the Ukrainian economy is significantly lower not only in comparison with the EU countries, many CIS countries, but also lags behind the overwhelming major- ity of countries in the world. The reason for this is the low efficiency of the ju- dicial and law enforcement system; weakness and archaism of state regulation of the business environment; monopolization and oligarchization of the economy, non-transparent approaches to the privatization of assets in Ukraine; “Black” and “gray” land market; violation of customs procedures and registrations, which sig- nificantly saturate the markets of Ukraine with counterfeit and smuggled goods. In contrast, EU countries are pursuing policies that promote asset and property rights protection, stimulate job creation and economic growth by creating a busi- ness-friendly climate, as well as focusing on innovation and related infrastructure aid funds. Conclusions: a proactive state policy is needed in the formation of ef- fective regulatory institutions in Ukraine, in anti-corruption and economic reforms, in reducing the level of monopolization and oligarchization of markets; also priva- tization stimulating investment and innovation; transition from extensive to in- tensive management methods; embedding of domestic products into external value chains; increasing investment in domestic infrastructure; priority in the develop- ment of small and medium-sized businesses; systemic focus on increasing the productivity of the economy; the emergence of new businesses in a low-carbon and environmentally friendly economy. Key words: economies of the EU and Ukraine, market development, European economic integration, world economy.

How health-conscious urban gardeners aim to increase vegetable consumption in their community while simultaneously supporting Black entrepreneurship

While the food justice movement was initially asso¬ciated with increasing availability of fresh produce in low-income communities of color through insti¬tutions such as farmers markets, scholars have cri¬tiqued this as imposing a right way of eating. Food justice scholarship has moved away from a focus on healthy eating toward a focus on community economic development, as food enterprises can stimulate job creation. This paper investigates the dual goals of the food justice movement through a case study in San Diego. While food justice has moved beyond promoting a love of produce and is increasingly oriented toward good jobs, for the urban gardeners in this study, the movement is still a lot about vegetables. They see food as medicine, and note the health benefits of moving toward a plant-based diet. Yet, they are reluctant to push this way of eating on others, as they do not want to come across as elitist. Instead, they spread aware¬ness that plant-based diets are an African tradition that should not just be associated with rich white folks. Rather than leading with nutrition, they lead with tradition, taste, and buying Black. To encour¬age consumption of vegetables, they aim to in¬crease the supply of prepared food options in the community, and to market dishes as delicious rather than healthy, all the while supporting Black food entrepreneurs. When selling produce direct to the consumer through farmers markets does not achieve their vision of promoting health or sup¬porting livelihoods, they re-imagine a strategy of promoting food justice through a neighborhood food supply chain.

Analysisian Analysis of the Impact of SME Financing on Economic Growth in Zimbabwe (2015-2019)

Small and Medium scale Enterprises (SMEs) are important for successful economic growth and social development. There is a global increasing recognition of the importance of Small and Medium Scale Enterprises in terms of supporting overall economic growth and development. The primary purpose of the study was to assess the contribution of SMEs financing towards economic growth for Zimbabwe. Specifically, the study investigated the impact of SMEs financing on GDP growth, Job Creation, Poverty Datum Line, and Revenue Generation. The study focused on the classical and the modern theories mainly the Neoclassical Growth Theory, Finance-Growth Theory, Lending theory, Signaling theory, the pecking order theory and the Access to finance Theory of Change. This study adopted the positivism research paradigm and an explanatory correlational study design since it helped the researcher to comprehend and describe how SME Financing drives economic growth. In this study all registered SMEs who received loans from all commercial banks in Zimbabwe since 2015 represented the entire target population. The SMEs sector was selected due to its importance in Zimbabwe achieving the economic pillar of Vision 2030. The data gathered was presented and analyzed in a way that enabled statistical inferences to be made. Statistical methods of presentation such as time series plots, descriptive statistic tables, Correlograms and Multiple Linear regression model were used to aid comparability and ensure meaningful interpretation. Tests were performed on sample data to ensure that required conditions were met before regression modelling. The model was fitted using Eviews 10 statistical data analysis package. In a correlational study, the researcher examined whether and to what degree a statistical relationship exists between SMEs financing and Economic Growth. This study employed Classical Linear Regression Model (CLRM) to ascertain the statistical relationship between SMEs financing and Economic Growth. To evaluate the appropriateness and validity of the model the study analyzed the properties of the statistical distribution of the residuals generated by the fitted model to check for autocorrelation, heteroscedasticity and normality. The overall significance of the model was also evaluated by inspecting the model’s coefficient of determination (R-squared) and the probability value for the F-statistic. The estimated models found SMEs financing to have a significant positive effect on Economic Growth with respect to GDP Growth and Revenue generation through Tax Formation. However, it was revealed that SMEs Financing has no significant effect on changes in the movement of the Poverty Datum Line. It was also revealed that SMEs financing has failed to stimulate job creation in Zimbabwe due to continued rise in unemployment levels coupled by closure of large corporates. Greater efforts should be made to make available, short, medium and long term loans to productive investments like SMEs as they constitute an integral part of the growth and transformation process of an agro-based economy like that of Zimbabwe. The central Bank of Zimbabwe (RBZ) should ensure that all the SMEs keeps appropriate records of what is required by banks for extension of their credits to individuals. More so, the Reserve Bank of Zimbabwe should strengthen its monetary policy tools in order to stabilize costs of doing business and lending cost. Future studies should therefore consider also investigating the impact of both private equity and public sector investment on economic growth in order to get an exhaustive picture on the implications of financing SMEs, Private Equity firms and publicly listed firms on economic development.

The effect of financial inclusion on unemployment reduction - evidence from non-oil producing Arab countries

The non-oil producing Arab countries of the Middle East and North Africa are suffering from chronic high unemployment rates, especially among the youth. The availability of affordable and secure financial services is considered as one of the pillars for generating economic growth, stimulating job creation and reducing unemployment. This study investigates the link between financial inclusion and unemployment in non-oil exporting Arab countries. This is done via estimating an index for financial inclusion from 2008 to 2018 for Egypt, Jordan, Lebanon, Morocco, and Tunisia based on the methodology developed by Sarma. The estimated index reveals an overall average-to-low level of financial inclusion. The effect of financial inclusion on unemployment is then tested based on a modified version of Okun's law. The results of a random effect model reveal a significant negative effect both of financial inclusion and of real output growth on unemployment.

Sovereign Default and Labor Market Dynamics

This paper investigates the interaction between labor market dynamics and sovereign debt risk. Countercyclical default risk and the limited ability to borrow during recessions renders the government a procyclical fiscal policy. The anticipation of higher tax rates in downturns discourages agents' participation in the labor market and creates prolonged unemployment. The slack labor market, in turn, aggravates the default risk and strengthens the fiscal procyclicality. Moreover, under the discretionary policy, a government does not internalize the dynamic-scratching effect of raising tax rates on employment, so it suffers a low level of job creation and high default incentives. In this environment, imposing commitment measures on tax rates such as fiscal covenant can stimulate job creation, improve debt sustainability, and lead to a significant welfare gain.

State and Local Economic Development and Urban Anticipatory Governance

This edition of the Zoning and Planning Law Report connects the concept of “anticipatory governance,” developed in the context of climate change adaptation and technology assessment, with urban governance challenges particularly around economic development. Climate change adaptation has to do with the process of adjustment to actual or expected climate and its effects. Technology assessment relates to public participation around understanding the ramifications of new technology. I have written elsewhere at length about approaching planning and economic development processes in cities and states both in relation to business location incentives—job buying —and through what I have termed an “urban anticipatory governance” framework. The focus of this Report is two-fold. First, it investigates and summarizes the lack of legal constraints on economic development to stimulate job creation and capital attraction. Inherent in this first point is a critique that residents frequently lack participation in economic development legal processes and approvals. Second, this Report provides guidance for officials in state and local government involved in planning and economic development decisions, as well as practitioners, to consider using anticipatory governance principles in practice. An urban anticipatory governance approach to economic development activity addresses society’s most complex local economic development issues, in flexible ways, allowing residents and experts to work together, with enough time for that collaboration to have a meaningful impact on decisions.

Does solo self-employment serve as a ‘stepping stone’ to employership?

This paper examines the extent to which solo self-employment serves as a vehicle for job creation. Using panel data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey, a dynamic multinomial logit model of transitions between labour market states is estimated. The empirical strategy closely follows that used in a previous study employing household data from Germany by Lechmann and Wunder (2017). Estimates of true cross-state dependence between solo self-employment and employership are obtained that are relatively small. Further, the results imply that the probability of a male worker being an employer just two years after transitioning out of solo self-employment is only about 4% (and among women, it is just 2%). The extent of both true cross-state dependence and true state dependence in employership is, however, much greater among individuals who have demonstrated a preference for self-employment in the past. This implies that pro-entrepreneurial policies that target more ‘entrepreneurial’ individuals will have more pronounced and long-term effects in stimulating job creation.