Policies For Sustainable Economic Development Research Articles

Maximizing Revenue Generation Through Effective Tax Policies for Sustainable Economic Development in Nigeria; A Conceptual Review

This paper focused on the imperative of maximizing revenue generation in Nigeria through the implementation of effective tax policies. In a nation characterized by diverse economic sectors and challenges such as tax evasion and a significant informal economy, the need for strategic fiscal policies is paramount. This paper explores the multifaceted approach to effective taxation, including broadening the tax base, simplifying the tax system, and utilizing technology for efficient tax collection. Drawing on progressive taxation, incentives for strategic sectors and ensuring transparency, the paper advocates for policies that not only increase revenue but also promote economic stability and social equity. The importance of reducing dependence on oil revenue, enhancing compliance, and encouraging investments is highlighted. In conclusion, it stresses that effective tax policies are integral to Nigeria's economic stability, providing funding for critical sectors such as education and healthcare. The paper emphasizes the significance of these policies in reducing income inequality, fostering entrepreneurship, and creating a conducive environment for business growth. As a recommendation, the paper suggests that policymakers prioritize the implementation of these strategies, invest in modern tax administration technologies, and foster collaboration between government agencies and the private sector. These measures can pave the way for a financially robust Nigeria, ensuring sustainable development and an improved quality of life for its citizens.

Tourism and sustainable development: a bibliometric and complex systems methodology approach

ABSTRACT Tourism is a significant economic activity, but its complex relationships with the environment and natural resources raise concerns about sustainability. This study explores the interplay between natural, cultural, and social capital in sustainable tourism development systems (STDS) using a Complex Systems methodology, specifically Causal Loop Diagrams (CLD). The results demonstrate that tourism management and development can enhance sustainable development, but tourism's impact is mixed. Positive impacts include increased local economic development, cultural tourism, and protected areas. Negative impacts include increased environmental pollution, negative impact on indigenous culture, and a complex relationship with social capital. This systemic model contributes to formulating policies for sustainable economic development in tourist destinations. It highlights the need for integrated management approaches that balance economic, environmental, and social objectives.

ASSESSMENT OF CHANGES IN THE QUALITY OF THE ENVIRONMENT IN THE LVIV REGION ON THE BASIS OF ENVIRONMENTAL INDICES OF REMOTE SENSING

The ecological environment system is closely related to human daily life. With the acceleration of industrialization and urbanization, various human activities have brought great impacts on the local ecological environment. Timely and accurate evaluation of spatial and temporal changes in the quality of the ecological environment helps policy makers to understand the current status of the ecological environment in the region, and is of great significance for the rational development of ecological environmental protection and policies, which has become a research priority in the field of ecology. In this study, Lviv Oblast, an important region in western Ukraine, is taken as the study area, and the remote sensing ecological index remotely sensing ecological index (RSEI) of Lviv Oblast for 2015 and 2021 was constructed based on remote sensing technology, and the ecological quality of Lviv Oblast during six years was rapidly monitored and evaluated, and the results of the study show that the The average values of RSEI in 2015 and 2021 are 0.66 and 0.68, respectively, indicating a gradual improvement of ecological quality. This reflects the small impact of the deterioration of the ecological environment caused by human activities in the region in recent years.This study provides a methodological reference for evaluating the quality of the ecological environment in the Lviv region, which is of some value for the rational planning of local ecological and environmental protection strategies and policies for sustainable economic development.

The Effects of FDI on Greek Economy: An Empirical Analysis

This paper investigates the effect of Foreign Direct Investment (FDI) on economic growth in Greece, within a framework that also accounts unemployment rate, using annual data covering the period 1970 to 2017. Several econometric models are applied including the ARDL bound test approach for cointegration as well as ECM-ARDL model for causality. The results of the study confirm the existence of a long run relationship among the examined variables. The Granger causality results indicated a strong unidirectional causality between economic development and foreign direct investments with direction from economic development to foreign direct investments. Finally, the variance decomposition method and the impulse response functions are used to test the strength of causality between the variables. The results of the study offer new perspectives and insight for new policies for sustainable economic development, increasing investments and reducing unemployment.

Boosting Rural Income Generating Activities for Economic Development of Ijesaland, Southwestern Nigeria

This study is aimed at assessing the impact of Rural Income Generating Activities (RIGA) on the economic development of Ijesaland in Southwestern Ni­geria with the view to recommending a sustainable economic development policy framework for the region. Ijesaland is made up of 6 Local Government Adminis­trative Areas (LGAAs). Its 487 settlements were stratified into four Business Ac­tivity-Groups (BAGs) and the economic activities across the groups were grouped into 198 Functional Order-Centres (FOCs) according to their level of functionality. A total of 65,146 households were identified. Primary data were sourced through questionnaire administration, while secondary data were gathered from relevant published and unpublished documents as well as Focus Group Discussions, phys­ical observations, and interactions across the study area. Using stratified sam­pling technique, a household questionnaire was administered on 2% (1,303) of the household heads, while an institutional questionnaire was administered on 100 economic activity centers across stratified 20 settlements. Data collected were processed using SPSS. The study affirms RIGA as a significant strengthener of the economic development in the study area. Therefore, a RIGA boosting pol­icy-framework across the study area is recommended to make the economic de­velopment in the region more sustainable. The policy could be a template for in the homogeneous Southwestern Nigeria to ensure sustainable economy in the zone; and by extension, Nigeria with situation-relevant adjustment.

The Welfare Effects of Inflation Volatility and Institutions

Using a micro-foundation based monetary Small Open Economy (SOE) model of McCandless (2008) with a cash-in-advance constraint, a capital adjustment cost, foreign bonds, and a trade sector, the study quantifies the welfare implications under two policy scenarios: ( a) a reduction in inflation volatility and ( b) an improvement in institutions. The monetary small open economy model is calibrated using quarterly data from 1989 to 2006 for an emerging market economy, Mexico, a country that, by the study’s measure has poor financial institutions and moderately high inflation volatility. The results of the model suggest that decreasing inflation volatility leads to about 8 percent increase in welfare, at most, while improving institutions leads to an increase in welfare by about 10 percent, at most. Furthermore, when the decrease in inflation volatility is coupled with the improvement in institutions the welfare increase is in the range of around 11–19 percent, depending on the degree of the drop in inflation volatility and the level of development in financial institutions. Finally, the study analyzes the impact of the reduction in inflation volatility versus the impact of the improvement in institutions on the behavior of the endogenous variables along the transition path. One policy implication of these results is that an emerging market economy, like Mexico, with relatively high inflation volatility and underdeveloped financial institutions, can get large welfare gains from either reducing inflation volatility or improving their institutions, with the largest gains coming from the latter. A long-run sustainable economic development policy will lean more towards the improvement in institutions rather than the reduction of inflation volatility.

The limits of success? NGOs, microfinance and economic development in Pakistan's Northern Areas

Microfinance's staunchest proponent, Nobel Laureate Muhammad Yunus, speaks of it as a basic human right and argues that the world's poor are natural entrepreneurs. Pakistan's Aga Khan Rural Support Program (AKRSP), one of the world's largest and most successful NGOs, has run microfinance and micro-enterprise programmes in Pakistan's Northern Areas since 1982. This article examines microfinance-induced micro-entrepreneurship as a sustainable economic development policy in light of AKRSP's experience and concludes that, given AKRSP's extensive resources and relative failure, microfinance's efficacy as a sustainable economic development policy (but not its role in poverty alleviation) is doubtful.

Recommended Policies for Sustainable Economic Development in Indonesia

Booming and prosperity. Joyful expectation of the future. And, suddenly, a crash, a dramatic crash. All were lost in such a short time. They were so unprepared for this event. Then, those who had used to talk about poverty, but did not really experience the poverty itself, were forced to get the feeling of much relative deprivation. They had not fallen to under poverty line, and, indeed, they might be still in a much higher economic situation than the poverty line; but their prospect had been very bleak. It was like the feeling of riding a roller coaster, but without knowing the end of the fast descending journey. They were, to mention a few, the academicians, politicians, bureaucrats, business people, people in NGOs and joui nalists. They had the political power, and some were involved in decision making to help the "poor" people.