Sustainable Economic Development Strategy Research Articles

Statistical analysis of the impact of profitability in the manufacturing and service sectors on the UK Economy’s Growth

The UK economy's performance is closely tied to the profitability of its Manufacturing Sector (MS) and Service Sector (SS). Understanding these sectors' dynamics is crucial for effective policymaking. Integrating sustainable practices in both sectors enhances profitability and operational efficiency while contributing to economic growth and reducing environmental impact. This study investigates the relationship between UK economic growth and profitability in the MS and SS from 1998 to 2022. The primary objective is to examine how profitability influences the UK's growth trajectory. Employing various statistical methods, including correlation, regression, cointegration, and variance decomposition analyses, the study aims to provide insights into the interplay between GDP and sector profitability. A quantitative approach using secondary data on GDP and profitability from reliable sources is adopted. Correlation analysis explores relationships between these variables, while regression analysis assesses the impact of MS and SS profitability on GDP. Cointegration tests identify long-term equilibrium relationships, and variance decomposition analysis reveals the variability of GDP and sector profitability over time. The correlation matrix indicates positive associations between GDP and both sectors, with the SS showing a stronger correlation. Regression analysis confirms significant effects of both sectors on GDP, with the SS exerting a positive influence and the MS a negative impact. Cointegration tests highlight long-term stability, and variance decomposition analysis emphasizes the dynamic nature of these relationships. This study elucidates the intricate link between UK economic growth and sector profitability, underscoring the SS's critical role in driving expansion while addressing challenges in the MS. Policy recommendations include enhancing productivity and innovation in both sectors, informed by evidence-based decision-making. Overall, the study contributes valuable insights into the UK economy's growth dynamics, guiding sustainable economic development strategies.

Exploring the nexus of oil price shocks: Impacts on financial dynamics and carbon emissions in the crude oil industry

This empirical study delves into the intricate interplay between oil price shocks (OPS) and their dual impacts on both carbon emissions and the financial performance of the crude oil industry. Utilizing a sophisticated econometric approach, the study employs a Nonlinear ARDL model to meticulously scrutinize the enduring and immediate associations between oil prices and key financial indicators such as stock prices, dividends, and profit ratios of oil exploration industries. Given the significant fiscal and ecological transformations in China during this period, the chosen factors provide a robust framework for measuring changes at both microeconomic and macroeconomic levels, contributing valuable insights to sustainable economic development strategies. Our findings elucidate a statistically significant influence of OPS on the financial performance of the oil industry, particularly in the short term. The increase in the volatility level of OPS manifests a discernible decline in stock prices and profit ratios. Intriguingly, the study further uncovers a nuanced facet of OPS, revealing a prolonged and beneficial impact on carbon emissions in the long term. More importantly, heightened oil prices serve as a catalyst, motivating oil exploration companies to intensify production and exploration activities, thereby increasing carbon emissions in a direct relationship. The implications of these findings are pivotal for policy making, underscoring the imperative for decision-makers and industry stakeholders to pivot towards cleaner, more sustainable energy sources. The research augments the ongoing discourse surrounding the intricate nexus between energy costs and carbon emissions, furnishing invaluable insights that could steer the development of policies geared towards fostering sustainability and mitigating the adverse effects of climate change.

Analisis Faktor Faktor Yang Mempengaruhi Perkembangan Ekonomi Di Kabupaten Sarolangun

Sarolangun Regency, Jambi Province, Indonesia, has great economic potential, but its development still faces obstacles. This study explores the factors that influence economic growth in Sarolangun Regency with a focus on labor, foreign direct investment, government spending, local potential, policies, and infrastructure. This study uses a literature study research method with a secondary data approach. Data was obtained from official sources, including economic journals, articles, and BPS statistics. Data analysis was done descriptively to identify these factors. The results show that labor, foreign direct investment, and government expenditure have an important role in economic growth. Local potential, including the agriculture, plantation, and tourism sectors, also has a significant impact. Policies and regulations that support investment as well as cooperation between the government, private sector, and community are considered crucial. Infrastructure, especially transportation, was identified as an important pillar in supporting economic growth. Continued investment in infrastructure is considered vital to maintaining the competitiveness of Sarolangun District. By understanding and optimizing these factors, it is expected that Sarolangun District can achieve sustainable economic growth. This study provides a foundation for planning effective and sustainable economic development strategies for the region and serves as a reference for future research into the economic potential and challenges of Sarolangun District.

Analisis Struktur Kinerja dan Kluster Industri Unggul

This research aims to analyze the performance structure and identify superior industrial clusters in Indonesia. Using secondary data from various sources, this research adopts a quantitative and qualitative approach to evaluate industrial performance based on key economic indicators such as production growth, productivity and contribution to GDP. Cluster analysis techniques are used to group industries that show superior performance. The analysis results show that several industrial clusters, such as high-tech manufacturing and financial services, perform much better than other sectors. These findings provide important insights for policy makers and industry players in formulating more effective and sustainable economic development strategies.

Формирование и оценка инвестиционной привлекательности региона в основе экономического развития государства

The condition for the effective development of any socio-economic system is the availability of investments as an important source of economic growth of the state. In modern conditions, attracting investments is the most significant task and one of the main components of the development of the domestic economy. Investment attractiveness is an important component of the strategy of sustainable economic development of the state, therefore, its research and evaluation are of great theoretical and practical importance. The article substantiates the directions of formation of the investment attractiveness of the regional economy. The priorities of assessing the investment attractiveness of the region are highlighted, including the analysis of the investment potential of the region’s economy and the determination of the impact of risks. It is established that the principles of selecting indicators of investment attractiveness of the economy of regions should include: purposefulness, uniformity, objectivity, reliability, realism and scientific.

Potential of Tourism as a Sustainable Economic Development Strategy in Sierra Leone

Potential of Tourism as a Sustainable Economic Development Strategy in Sierra Leone

THE ROLE AND POTENTIAL OF ISLAM CAPITAL MARKET IN SUSTAINABLE ECONOMIC DEVELOPMENT

Islam capital markets play an important role in promoting sustainable economic development through financial instruments that comply with Islam principles. The journal discusses the role of the Islam capital market as a source of funding and financial access in the context of sustainable economic development. Through the research method of literature studies that gather data through the study of libraries related to the discussion of this journal. In the results of the research found the important roles of capital markets in sustainable economic development, which to maximize the potential of the islam capital market in the sustainable development of the economy, cooperation between the government, financial institutions, and islam market players is necessary. However, in addition to the continued economic development, there are also obstacles within it. Where governments need to create regulations that support the development of Islam capital markets and integrate them into sustainable economic development strategies. Financial institutions and Islam capital market players need to continue to develop innovative products and services that meet market needs and promote sustainable business practices.

Real Estate Cadastre in the Republic of Moldova: Current Status and Prospects (an interdisciplinary study)

Shaping and improvement of market infrastructure plays, combined with security of property rights, an important role in the implementation of the national sustainable economic development strategy — to include development of the real estate cadastre, whose information underlies most decisions made in private and public sector regarding prudent use and management of land, securing of property rights to real estate, promoting decentralization policies in respect to public property and public budgets. An up-to-date multipurpose real estate cadastre is discussed applying a synergetic approach that involves consideration of the cadastre’s legal, technical, economic, institutional and social aspects. This empirical interdisciplinary study supports the real-estate-cadastre-as-a-system hypothesis.

A Coexisting Strategy of Economic Development and Environmental Protection

It is impossible to separate economic development from industrial development. It should be noted, however, that industrial development has a detrimental effect on the environment. Consequently, pollution of the environment will require a large number of workers and material resources to control, which is contrary to the original intention of economic development. The development of economic activity should not ignore environmental protection but should strive for a common development of economic development and environmental protection and integrate environmental protection awareness into economic planning so that economic growth and environmental protection can be mutually beneficial. This type of economic development is considered low-level, assuming that environmental resources are consumed without limit, and environmental governance issues are ignored. Our organization pursues a high-level and sustainable economic development strategy. Therefore, we need a high-level and sustainable strategy for economic development. As a result, we hope this paper will serve as a reference for those interested in symbiotic development that considers economic development and environmental protection as research subjects.

Efficient glycolysis of recycling poly(ethylene terephthalate) via combination of organocatalyst and metal salt

The recycling of discarded polyethylene terephthalate (PET) is an effective way of catering to global sustainable economic development strategies. It is well known that catalysts play a crucial role in the degradation of PET, based on the fact that most of the currently available catalysts have some disadvantages, including complex preparation process, severe reaction conditions and insufficient reaction efficiency. Herein, we report a combination of metal catalyst and organoazacyclic 1,8-diazabicyclo [5.4.0]undec-7-ene (DBU) as cooperating catalysts were used to depolymerize waste polyethylene terephthalate into bis(2-hydroxyethyl) terephthalate (BHET) directly. Screening of several metal salts under optimal conditions showed that zinc acetate ((Zn(OAc)2) was the most effective co-catalyst. The waste PET could be completely depolymerized at 180 °C for 77 min with the weight ratio of EG/PET was 3:1 and the molar ratio of Zn(OAc)2/DBU was 1:2, and the content of BHET in the recrystallized product reached 78.2%. Kinetic studies showed that the activation energy of depolymerization of PET was 115.48 kJ/mol. It was speculated that the hydrogen bond formed by Zn(OAc)2/DBU and EG exhibited excellent catalytic effect in the glycolysis process. Therefore, it is hopeful that this simple and mild composite catalyst can provide industrial ideas for recycling other waste polyesters.

INTERNATIONAL TRADE: PARADOXES AND SIGNALS OF A SUSTAINABLE RECOVERY

Structural changes taking place at the present stage of development of international trade lead to a qualitative renewal of its architecture, affecting many aspects of the international division of labor. The purpose of the study is to assess the possibilities and parameters of the restoration of international trade, to identify problems associated with the multilateral regulation of international exchange, which has become more complicated due to the crisis caused by the coronavirus pandemic. The collapse of international trade was found to have put a brake on many value chains at the global level, especially in services. However, one should not idealize the trend of international exchange turning towards deglobalization, since there are natural limitations associated with traditional competitive advantages and sustainable economic development strategies of the largest exporting and importing countries. Overall, we note a slow recovery in international trade compared to the recovery in the global economy as a whole, which continues to be driven by the pressure of ongoing quarantine restrictions. Additional stress for the further development of international exchange are trade and geopolitical conflicts between individual countries. At the same time, the crisis that has arisen allows us to consider from a new perspective the possibilities of participating in interregional trade agreements from the point of view of restoring trade relations between countries.

CONVERGENCE OF INSTITUTES OF FUNCTIONAL REPRESENTATION OF GROUP INTERESTS UNDER TRANSFORMATION OF SOCIAL PROCESSES, QUALITY OF LIFE, AND HUMAN CAPITAL

Purpose: This article substantiates the influence of mechanisms, methods, and technologies of a functional representation of group interests on the strategic management of socio-economic processes in the context of geopolitical turbulence.
 Methodology: The work defines the socio-stratification basis for the representation of group interests, their role as subjects of representation in the modern system of management of social processes, the features of the convergence of functional representation of various interest groups, first of all, the multiform structures of the consulting and expert system, and ways to improve their performance subject to current reforming trends towards improvement of the quality of life and update of the importance of human capital..
 Result: The authors determined the dependence of the results of managing socio-economic processes, the strategy of sustainable economic development of Russia on the degree of conscious complicity, social activity of the population and the presence of relevant institutions of functional representation of group interests, transparent (open, mutually beneficial, corruption-free) management mechanisms of a particular region. Government authorities, functional representation institutions can use the scientifically based recommendations proposed by the authors in the development of socio-economic projects and programs aimed at effective, first of all, regional development, and at the establishment of open channels of interaction in a “society - business - state” symbiosis. The article will also be of assistance to the scientific community as a theoretical justification of practical actions aimed at developing the institutions of a functional representation of group interests
 Applications: This research can be used for the universities, teachers, and students.
 Novelty/Originality: In this research, the model of convergence of institutes of a functional representation of group interests under transformation of social processes, quality of life, and human capital is presented in a comprehensive and complete manner.

Strengthening Local Potential for Sustainable Economic Development in Bengkulu City

Number of poor population in Bengkulu City is the highest among other regencies in Bengkulu Province. Development in Bengkulu City looks forward internally, but not changing the image as lagging region in Indonesia. Although the Human Development Index (HDI) of Bengkulu City is the highest in Bengkulu Province and more than the national average, it has not been beneficial for the Bengkulu City progress. Research objectives are: (1) to know the leading sector in Bengkulu City, (2) to know the chain of regional economic issues of Bengkulu City, and (3) to formulate a strategy of sustainable economic development in Bengkulu City. Method which is used in this research is literature study and descriptive analysis towards calculation results of location quotient (LQ), specialization index (SI), Theil entropy index (TEI), shift-share analysis, and Klassen typology based on gross domestic product (GDP) data. The results show that the most leading sector in Bengkulu City is company service, with LQ of 2.97 (2011); 3.02 (2012); and 2.96 (2013). The regional economic issues in Bengkulu City can not be separated by disparity of the leading sector, unspecialized of the leading sector, low competitiveness and lagged of the leading sector, coupled with increasing of poor population, not optimalized of HDI utilization, and low function of regional development key. Development strategy in Bengkulu City formulated through local potential empowerment, such as developing company service sector, increasing the company setor service competitiveness, and creating generative city relations.

Infrastructure Investment and Sustainable Development in Coastal Areas in China

Ma, X.; Zhao, K.C.; Li, Y.X., and Zhu, H.Y., 2019. Infrastructure and sustainable development in coastal areas in China. Selected Topics in Coastal Research: Engineering, Industry, Economy, and Sustainable Development. Journal of Coastal Research, Special Issue No. 94, pp. 67–72. Coconut Creek (Florida), ISSN 0749-0208.In order to study the influence of infrastructure investment to economy in the interior of China and the coastal areas, this paper uses qualitative analysis and empirical analysis to demonstrate the both the relationship between infrastructure investment and regional economic development in China and the divergence between coastal and inland areas. Compared with other regions, China's coastal zone economy is highly extroverted and open. Coastal zone plays an important role in national sustainable economic development strategy. Based on qualitative analysis, this paper firstly establishes a cooperative game model to qualitatively and horizontally analyze the differences and complementarities between central and local governments in regional infrastructure investment. Empirical analysis is adopted to discuss various kinds of infrastructure construction investment at the national level. In the conclusion, preliminary policy recommendations are put forward.

Management Accounting Change as a Sustainable Economic Development Strategy during Pre-Recession and Recession Periods: Evidence from Russia

The volatility of both global and national markets has emerged in recent years. In response to the changes in the operating environment, organizations have been adopting various practices to ensure sustainable development by anticipating threats and managing risks. While many studies are focusing on the investigation of strategic adaptation to the volatile economic environment, there has been little research examining management accounting (MA) as a sustainable development strategy in times of economic turbulence. This study investigates the degree of variation in the use of MA practices induced by economic recession. Investigating the variations in management accounting practices in Russian organizations in 2000–2013 (pre-recession period) and 2014–2018 (economic recession), the authors explore the change across 54 MA tools split into operation, management, and strategy pillars. The contribution of this study to the literature involves the understanding of the use of particular MA tools across various types of organizations and industries before and during the economic recession, as well as discovering the intention to change the instruments in case the economic situation deteriorates. The survey of four types of organizations (micro, small, medium, and large) in five sectors (service, industry, trade, agriculture, and tourism) was conducted in seven territories of Russia differentiated on the level of their economic performance (well-performing, average, and declining). The survey revealed that, during the crisis, the respondents tend to drop using many of proactive sustainability-oriented MA tools and instead focused on achieving immediate and direct effects on sales, profits, and other performance parameters by employing less-sophisticated short-term MA instruments. The forecast of future application of MA tools in a falling economy revealed that, in an attempt to achieve durable and sustainable performance, the organizations of all types and sectors intended to focus on practices such as risk management variance analysis, rolling forecasts, payback, breakeven analysis, and activity-based management.

Developing A Nigerian Local Government Through Economic Gardening: A Roadmap

Economic Gardening is an innovative economic development strategy whereby local businesses are fostered and encouraged, and the skills of local workers are upgraded. Since its inception in Littleton, Colorado in 1989, this concept has been put forward by various scholars as a viable and more sustainable economic development strategy than the traditional business attraction strategy. Various implementation experiences have provided further evidence of its effectiveness in improving the quality of life of the inhabitants of a community. This paper charts a roadmap for the development and future implementation of an economic gardening strategy for a Nigerian local government whose officials have shown an interest in adopting such a strategy. A seven-step process was adopted from a review of economic gardening scholarship: 1) Working hand-in-hand with local government officials and other stakeholders, 2) Identifying the community’s assets, 3) Developing a collaborative effort amongst all stakeholders, 4) Developing a clear and transparent operating agreement, 5) Identifying the key targets for services, 6) Developing an effective way to deliver these services, and 7) Communicating regularly with the community so as to gain and retain their support. A lack of political will and a lack of adequate infrastructure were identified as the two biggest obstacles to the successful implementation of the economic gardening strategy in the local government. The first obstacle was mitigated by the fact that it was the local government officials who approached our team to develop the strategy, whilst the second obstacle was mitigated by a proposal for the development of a solar farm within the local government via a public-private partnership with an international solar firm. It is hoped that a successful implementation of this strategy will improve the lives of the inhabitants of the local government and serve as an example for other Nigerian local governments.

Ecological and economic mechanism for the formation of environmental measures in the gas extraction constructions

The disturbed balance of the “society-nature” system has led to the fact that the production of output usually involves environmental pollution. The reason is that most technological processes are far from perfect and involve formation of intermediate substances or end products that do not participate in further production process and consequently become waste. Therefore, the authors analyze the methodological approaches of integrated environmental and economic assessment of environment protection measures during the construction of gas industry facilities, which is a relevant issue in terms of ecology. The authors claim that the extraction of fuel and energy resources disrupt the biogeocoenosises’ components during the survey, development and exploitation of deposits, leading to the manifestation of dangerous natural management processes and destruction of flora and fauna. Therefore, the environmental-economic mechanism for the formation of environmental measures during the construction of gas facilities should be improved within the framework of the strategy of sustainable economic development of society and ensuring its environmental safety. Analysis of methods for assessing the environmental and economic impact of gas industry enterprises on the environment has shown that enterprises need further instrumental and methodological improvement.

A Report of the Impacts of Pollutants on Maritime Operation in Vietnam

The article focuses on synthesis and production of adsorbents to collect oil spills using available and surplus raw materials in agriculture. Research on the manufacture of oil sorbent based on the combination of polyurethane and agricultural by-product is conducted. Nowadays, waste by-products are partly composted, partly used as feed for the remaining cattle that is disposed of in the environment or burned out. This wall is the cause of severe environmental pollution. Therefore, using this waste straw combined with polyurethane to make oil absorbing materials to treat oil pollution at sea is a feasible, scientific and practical option, contributing to minimizing environmental pollution as well as promoting the development of agriculture. Thus, with the current strategy of marine economic development and strong waterway transportation, it will lead to serious environmental pollution if we need specific solutions to solve the problem of neglect. Application of adsorbent material to absorb oil and heavy metals from waste water of transport fleet is part of the strategy of sustainable economic development.

A Report of the Impacts of Pollutants on Maritime Operation in Vietnam

The article focuses on synthesis and production of adsorbents to collect oil spills using available and surplus raw materials in agriculture. Research on the manufacture of oil sorbent based on the combination of polyurethane and agricultural by-product is conducted. Nowadays, waste by-products are partly composted, partly used as feed for the remaining cattle that is disposed of in the environment or burned out. This wall is the cause of severe environmental pollution. Therefore, using this waste straw combined with polyurethane to make oil absorbing materials to treat oil pollution at sea is a feasible, scientific and practical option, contributing to minimizing environmental pollution as well as promoting the development of agriculture. Thus, with the current strategy of marine economic development and strong waterway transportation, it will lead to serious environmental pollution if we need specific solutions to solve the problem of neglect. Application of adsorbent material to absorb oil and heavy metals from waste water of transport fleet is part of the strategy of sustainable economic development.

Environment, Equity, and Economic Development Goals: Understanding Differences in Local Economic Development Strategies

What role do local governments play in promoting sustainable economic development? This study uses a 2014 national survey to analyze the relationship between local environment and social equity motivations and the kinds of economic development strategies local governments pursue (business incentives or community economic development policies). Municipalities that pay more attention to environmental sustainability and social equity use higher levels of community economic development tools and lower levels of business incentives. These places are also more likely to have written economic development plans and involve more participants in the economic development process. In contrast, communities that use higher levels of business incentives have lower income and are more dependent on manufacturing employment. Other capacity measures do not differentiate types of economic development strategies used. This suggests that sustainable economic development strategies can be pursued by a broad array of communities, especially if the motivations driving their economic development policy include environment and equity goals.