This study aims to analyze the effect of fiscal policy represented by government expenditure together with inflation on economic growth in Indonesia during the 2007–2021 period. A quantitative approach was employed using the Ordinary Least Squares (OLS) method with EViews 12 software. Economic growth was used as the dependent variable, while government expenditure and inflation served as the independent variables. The results indicate that government expenditure and inflation simultaneously exert a significant influence on economic growth, as reflected by the Prob(F-statistic) value of 0.040772. However, the partial test shows that both independent variables have no significant effect on economic growth. Government expenditure exhibits a negative and insignificant relationship, whereas inflation shows a positive yet insignificant influence. These findings imply that the increase in government spending has not been fully directed toward productive sectors, particularly during the COVID-19 pandemic period. In addition, low inflation does not indicate strengthened aggregate demand. Overall, this study emphasizes the importance of synergy between fiscal policy and price stability in supporting sustainable economic growth in Indonesia.

In 2024, the UK Government introduced a statutory ‘Growth Duty’ on the energy industry regulator Ofgem. One implication is that industry actors must explain how proposed investments might enable sustainable economic growth processes when submitting their business plans as part of the regulated energy price control system. The first instance of this requirement affected the three GB electricity transmission owners (TOs) when submitting business plans in late 2024 for the RIIO-T3 period, which will run from April 2026 through to March 2031. This paper reports results and insights from independent research drawing on the investment plans of one of the three TOs in a set of economy-wide scenario simulations using a dynamic computable general equilibrium (CGE) model of the UK economy. A central finding is that our results indicate that undertaking early, planned investment at pace in anticipation of projected rising electricity demand, in response to the UK Government's electrification policies, is likely to deliver substantially stronger GDP and employment outcomes than a reactionary investment approach. This outcome is due to both an increased scale of earlier investment and the early creation of some excess capacity, which introduces downward marginal pressure on electricity bills. Moreover, where the latter is sufficient to offset the user bill impacts of investment cost recovery, the net outcome for UK households becomes progressive. The commonly expected outcome of cost recovery through energy bills being regressive does, however, manifest if electricity prices do not adjust in a competitive manner. • Electricity network investment is likely to support sustainable economic expansion. • Early anticipatory network investment supports stronger, wider economy expansion. • There is potential for progressive rather than regressive outcomes for households. • Achieving such results requires electricity prices to adjust with network capacity.

This study investigates the cointegrating relationships among financial inclusion, institutional quality, and economic growth in 20 Sub-Saharan African nations from 2008 to 2024. Employing the Pooled Mean Group (PMG) estimator in an Autoregressive Distributed Lag (ARDL) panel, the analysis showed a significant and favourable long-term association between economic growth, financial inclusion and institutional quality. In particular, regardless of the proxy for economic growth, the long-term association between financial inclusion and economic growth is positive and statistically significant. Similarly, institutional quality demonstrates a favourable and significant long-run linkage to economic growth, suggesting that improvements in institutional frameworks are related to sustained economic expansion. In contrast, short-run dynamics differs. There is a short-term correlation between institutional quality and economic growth but not between financial inclusion and economic growth. These findings show the importance of institutional quality as a catalyst for economic growth in the region. Consequently, the study recommends that governments in Sub-Saharan Africa should prioritise setting up strong institutions and policies to foster financial inclusion, which has a correlation with sustainable economic growth. This is crucial for both overall economic development and the creation of job opportunities.

The exponential growth of digital financial services and blockchain technologies has reshaped the structure of modern economies. This study investigates the relationship between digital transactions, blockchain technology, and the growth of the digital economy in Nepal using time-series data obtained from Nepal Rastra Bank and the World Bank. The analysis employs summary statistics, correlation analysis, and the Ordinary Least Squares method. Given heteroskedasticity and serial correlation, heteroskedasticity- and autocorrelation-consistent (HAC) standard errors based on the Newey–West estimator are used. Blockchain readiness shows a positive but marginally significant influence, suggesting economic impact remains limited. In contrast, internet usage shows a negative and significant relationship with the digital economy. Overall, the findings suggest that Nepal’s digital economy is primarily transaction-driven rather than innovation-driven. The study offers valuable insights for building financial infrastructure and improving institutional readiness to accelerate digital technologies for sustainable economic growth.

Purpose: theoretical and analytical substantiation of the directions and mechanisms of digital tools and platform-based solutions impact on the transformation of economic policy and public governance systems in the BRICS countries (with a focus on Russia, India, and China). Methods: research methodology is based on a systemic and institutional approach, involving the use of comparative and structuralfunctional analysis methods, content analysis of regulatory and statistical data, as well as elements of the platform economy theory and the concept of «state as a platform» to assess the impact of digital instruments on the formation of new economic policy in the BRICS countries. Results: study's findings demonstrate that digital tools and platform solutions are becoming a systemic factor in the transformation of economic policy in the BRICS countries, creating the preconditions for sustainable economic growth and improved public administration efficiency. The development of a platform economy is found to facilitate the transition from traditional forms of government regulation to an ecosystem-based governance model based on network effects, reduced transaction costs, and the personalization of public services, thereby enhancing the transparency and adaptability of institutions. The concept of «state as a platform» is substantiated as an institutional basis for the formation of a new digital model of an interaction between the state, business, and society, aimed at increasing technological sovereignty and inclusiveness of socio-economic development. Conclusions and Relevance: study examining the fundamentals of platform economy development using Russia, India, and China as examples confirmed that digital tools are a key driver in the formation of new economic policies in the BRICS countries. The transition from fragmented digitalization to a platform model is shaping a new architecture of economic relations based on the principles of openness, networking, and technological sovereignty. The need to adapt national strategies to the conditions of the digital economy and develop institutional mechanisms to ensure the sustainability and inclusiveness of digital transformations in the BRICS region is emphasized.

In agriculturally reliant areas, community cooperatives are crucial to rural development and the creation of inclusive, sustainable economic growth. Therefore, as part of the SURE DA2E (Sustainable and Resilient Development in Agriculture through Expansion and Enhancement) extension program, Isabela State University (ISU) established a capacity-building program for community cooperatives through its College of Business, Accountancy, and Public Administration (CBAPA). ISU and the Local Government of San Isidro, Isabela, collaborated on this program on August 19, 2025, to improve community cooperative governance, foster entrepreneurial and financial literacy, and support sustainable livelihood practices. This article highlights ISU's CBAPA's dedication to enabling communities to promote sustainable development through knowledge transfer, multi-sectoral collaboration, and the construction of resilient, community-based economic systems. It also describes the program's objectives, implementation, key activities, participants, and results.

The aviation industry in Bangladesh is one of the fastest-growing sectors and is very important for trade, tourism, connectivity, and the country's overall economic growth. Sustained economic growth, a rising middle class, and growing demand for travel both within and outside the country are driving the industry's rapid expansion. Additionally, ongoing development activities, including the adoption of digital technologies to enhance services, are transforming both domestic and international airports into modern facilities. Most importantly, Bangladesh’s geographic position is significant, opening new opportunities for the country. This study aims to assess how the aviation sector in Bangladesh is creating new opportunities and to offer recommendations for integrating into this field to further improve it. In addition to secondary data, Key Informant Interviews (KIIs) were conducted with aviation experts to articulate recommendations. The study found that the Civil Aviation Authority of Bangladesh (CAAB) is working to improve the aviation sector by implementing initiatives at airports and through policy. The findings are intended to contribute to academic discourse, policy planning, and industry practices to capture the full potential of this critical sector.

This paper analyzed the alignment of tourism development in Isabela Province with the SDGs (Sustainable Development Goals). Tourism development in Isabela Province is vital because of the need for environmentally sound tourism practices that support local communities. As Isabela Province has large quantities of natural resources and a significant cultural heritage, the potential for tourism to produce a significant positive economic impact on the province while resolving both the province's social and environmental issues is the two sides of the coin that must be examined. In recent years, there has been much more focus on the sustainability of local tourism policy. A primary emphasis of this analysis is the relationship between regional initiatives and the SDGs, and the progress the province has made in community welfare, conservation of natural resources, and the promotion of cultural heritage preservation. The analysis indicates progress in several areas; however, challenges persist in providing equal access to educational and health services. Putra et al (2024). Cooperation between local stakeholders, such as the government and community organizations, is critical for the effective implementation of these policies. This research advocates greater collaboration and coordinated efforts among these stakeholders to promote an environment where sustainable tourism can thrive. Specific tourism policies were discussed in more detail in this paper with respect to their contribution to the SDGs and the areas where additional investment and development are needed to achieve these objectives. The analysis will further clarify how the tourism industry can be a force for good in promoting sustainable economic growth and resiliency within a community.

Against the backdrop of China’s sustained economic growth and continuous improvement of residents’ living standards, consumption upgrade has become an important trend driving the high-quality development of the consumer market. Consumption upgrade not only changes the consumption structure and demand level of residents, but also profoundly reshapes the characteristics and decision-making logic of consumers’ purchasing behavior. Based on the core connotation of consumption upgrade, this paper combs the driving factors of consumption upgrade and its impact on consumers’ purchasing behavior, analyzes the evolution characteristics of consumers’ purchasing behavior in the context of consumption upgrade, and puts forward targeted marketing enlightenment for enterprises, so as to provide theoretical reference and practical guidance for enterprises to adapt to the new consumption trend, optimize marketing strategies and enhance market competitiveness.

This study investigates the impact of government health expenditure on health outcomes in African OPEC member countries (Nigeria, Algeria, Angola, Gabon, and the Republic of Congo) using panel data from 2000 to 2024. Employing econometric models, including unit root tests, co-integration analysis and the Pooled Mean Group (PMG) estimator. Results revealed that long-term, both out-of-pocket and government health expenditures positively influence life expectancy, while short-term effects are insignificant. For maternal mortality, short-term analysis shows significant reductions with increased government spending and out-of-pocket payments, though long-term effects are insignificant. The findings underscore that effective health expenditure, coupled with responsible management of external debt and systemic reforms, is vital for improving health outcomes. The study concludes that policymakers should focus on increasing healthcare funding, reducing out-of-pocket costs, enhancing health system efficiency. Recommendations include increasing healthcare funding, reducing out-of-pocket costs, responsible management of external debt(EXD) and strengthening healthcare infrastructure. Emphasizing sustainable economic growth and targeted maternal health interventions are essential. Future research at the regional level within Nigeria could provide deeper insights for tailored health strategies to enhance outcomes across different areas.

The article provides a scientific analysis of the concept of the investment environment, its structural components, and the internal and external factors influencing it. The objective necessity of ensuring investment attractiveness is substantiated. Particular emphasis is placed on the role of macroeconomic balance and institutional reforms, as well as the creation of a favorable business environment for both foreign and domestic investors, in ensuring sustainable economic growth. The criteria for assessing the investment environment and the impact of international ratings and indices on the country’s image are analyzed. Furthermore, the role of enhancing investment attractiveness in strengthening socio-economic stability is scientifically examined.

Purpose: The Cameroonian economy has experienced multiple crises since the 1970s, resulting in slow labour productivity growth and persistent income and opportunity disparities. This study investigates productivity movements across the three formal sectors; agriculture, industry, and service, as well as the aggregate economy, between 1970 and 2023. Specifically, it examines the presence of labour productivity convergence or divergence, identifies their sources and evaluates how productivity growth is influenced by key determinants, with the goal of informing policies to reduce poverty and improve living standards particularly for low-income populations. Methodology: A parametric approach employing ordinary least squares techniques are used to test for the presence of labour productivity convergence or divergence, using the Beta and Sigma-convergence tests. A quantile regression approach is conducted to properly reveal the labour productivity dynamics within the various sectors. A Labour productivity decomposition technique is conducted to identify sources of convergences or divergence in productivity in the economy. Findings: The study finds evidence of sigma-convergence between sectors and the aggregate economy, driven mainly by industry and service. No significant Beta-convergence is observed within sectors or at the aggregate level. Industry and services contribute most to labour productivity growth, with an annual convergence speed of 12.2%, reflecting the combined effects of worker reallocation and productivity gains. Estimated times to halve productivity gaps are 8 years for industry, 20 years for services and 42 years for agriculture, highlighting persistent structural imbalances. Unique Contribution to Theory, Policy and Practice: The study emphasizes the need for balanced sectoral development through coordinated policies, improved institutional quality, and substantial investment in human capital. Targeted interventions across agriculture, industry and services are essential to accelerate structural transformation, reduce income disparities, and achieve sustainable economic growth in Cameroon. Keywords: Sectoral Labour Productivity, Economy Growth And Development, Technology, Employment

Achieving sustainable economic growth in resource-rich economies remains a major challenge in the context of the global energy transition. While fossil fuel dependence has historically supported economic expansion, it has also generated structural vulnerabilities associated with the resource curse. This study examines whether changes in energy structure can help move beyond the resource curse in Kazakhstan, a fossil-fuel-dependent transition economy. Using annual data for the period 1993–2023, the analysis applies the Autoregressive Distributed Lag (ARDL) bounds testing approach to investigate the short- and long-term relationships between per capita income, fossil fuel consumption, renewable energy production, carbon emissions, and capital formation. The results provide evidence of a long-term association, supported mainly by the error-correction mechanism. Fossil fuel consumption exerts a statistically significant negative effect on per capita income, supporting the resource curse hypothesis. In contrast, renewable energy production does not show a statistically significant impact on economic growth, suggesting that its contribution to economic growth remains limited within the sample period. Overall, the findings highlight the importance of energy diversification and structural transformation of the energy sector for aligning energy transition strategies with sustainable development objectives in resource-rich economies.

This study aims to analyze the role of government in the development of the hinterlandeconomy in Rokan Hulu Regency through the utilization of natural resources, focusing ona case study of oil palm plantations in accelerating regional economic growth. The methodused in this study is a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats)to evaluate the strengths, weaknesses, opportunities, and threats associated with thedevelopment of the oil palm plantation sector in the district. This study uses a qualitativeapproach by collecting data through literature studies, interviews with relevantstakeholders, and analysis of existing policies. The data collected will be analyzeddescriptively and interpreted to gain a deep understanding of the role of government in thedevelopment of the hinterland economy in Rokan Hulu Regency. From the results of thestudy using SWOT analysis of the role of government in developing the hinterland economyin Rokan Hulu Regency through natural resources (oil palm industry) are the strengths andweaknesses of internal factors of 1.82 and external factors of 0.27. In this effort, thereneeds to be implementation of appropriate policies between all related parties so as to help achieve sustainable economic growth, create jobs, improve community welfare, andmaintain environmental sustainability in Rokan Hulu Regency.

Abstract There has been an extensive amount of research devoted to innovative activity in universities, and not much research is done on the factors of higher education influencing the innovative activity of enterprises. In this regard, the authors of this study have decided to fill this gap, and they trust that scholars and policymakers would consider their work to be of considerable significance for understanding the interconnection between higher education and innovation performance. This research aims to evaluate the effect of the major higher education institutional factors on the innovative activity of enterprises in the country and to illustrate how these factors are of long-run importance in realizing sustainable economic growth. The factors examined for 2003–2023 include level of innovation activity (in %), R&D expenditure (% of GDP), government expenditure on education, total (% of GDP), graduation of doctoral students, number of higher education institutions, and graduation of university students. Our econometric model is the autoregressive distributed lag (ARDL) model. The model was validated/tested by the augmented Dickey–Fuller (ADF) unit root test, Granger causality test, co-integration test, and stability tests, which are useful for model validation and robustness. Our results suggest that research and development spending and government spending on education generate short-term positive effects and long-run negative ones. On the contrary, the larger count of higher education institutions, doctoral graduates, and overall university graduates has detrimental short-run but advantageous long-run ramifications. The results can support important policy considerations for the promotion of innovation-based higher education systems and the enhancement of national innovation performance.

This study analyzes the effectiveness of economic policies led by Purbaya in maintaining financial system stability and their contribution to achieving Indonesia’s economic growth target of 6 percent. Using a qualitative approach based on policy analysis and macroeconomic data, the study also employs word cloud techniques to identify dominant keywords in policy documents and Purbaya’s economic narratives. The research evaluates the foundations of structural policies, fiscal–monetary synergy, and the readiness of strategic sectors as engines of growth. The findings suggest that achieving 6 percent growth requires a consistent policy mix, improvements in labor productivity, accelerated regulatory reforms, and strengthened domestic and foreign investment. In addition, the study highlights external and domestic risks that may hinder target achievement, including global uncertainty, financial market volatility, and structural challenges in the MSME sector. These findings provide a comprehensive overview of opportunities and obstacles in realizing sustainable economic growth, while offering policy recommendations to enhance national economic resilience.

This paper analyzes the influence of financial development on economic growth in Türkiye, specifically focusing on the roles of foreign direct investment (FDI), trade openness (TRADE), and nominal exchange rate (ER) from 2005 to 2023. In this study, the Nonlinear Autoregressive Distributed Lagged (NARDL) approach was used to identify the effects of independent variables on GDP growth, and the Toda-Yamamato causality approach was used to determine the direction of the relationship between variables. In the long run, positive shocks to financial development result in GDP growth, while negative shocks cause significantly larger declines in GDP, highlighting the Turkish economy's vulnerability to negative developments. The analysis reveals that the impact of positive FDI developments on economic growth is insignificant for Türkiye. However, in the long run, the negative effects of FDI negatively impact economic growth. The findings indicate an urgent need for policies that mitigate the risks associated with financial downturns to promote sustainable economic growth. Furthermore, the Toda–Yamamoto causality test results indicate unidirectional causal relationships between economic growth and financial development, FDI, and trade openness, but no causal relationship with exchange rates, thereby demonstrating that the NARDL findings are robust to potential endogeneity and reverse causality.

The agro-entrepreneurship sector is widely regarded as a crucial avenue for enhancing youth employment prospects and fostering sustainable economic growth. Despite substantial government investments in various agro-entrepreneurship initiatives—such as the Young Agropreneur Programme (PAM), the Agro Youth Exhibition, the Agro Youth Entrepreneur Incubator Programme (IUBT), and the Youth Agropreneur Grant—youth participation in this sector remains relatively low. This study seeks to explore the underlying factors influencing youth involvement in agro-entrepreneurship, focusing specifically on participants of the Hybrid Melon Incubation Programme at Universiti Sultan Zainal Abidin (UniSZA). Employing a descriptive qualitative research design, data were collected through semi-structured interviews with five purposively selected respondents. The findings reveal that both internal factors (such as personal interest, motivation, and self-efficacy) and external factors (including peer influence, adult mentorship, and programme characteristics) play significant roles in shaping the participants’ engagement in agro-entrepreneurial activities. Moreover, the results highlight the importance of supportive social networks, effective training, and access to resources in encouraging entrepreneurial mindsets among youth. The study concludes that young people require continuous social and institutional support to realise their potential and sustain interest in the agro-entrepreneurship sector. These insights are expected to inform policymakers, educators, and programme developers in strengthening youth-oriented agricultural initiatives in Malaysia.

The World Bank asserts that reducing extreme poverty and achieving shared prosperity are both made possible through financial inclusion. Digital finance may enhance financial stability, thereby supporting more inclusive and sustainable economic growth. Despite its potential benefits, the link between digital finance and financial stability remains underexplored in the literature. The present study addresses this research gap in the literature by exploring the relationship between digital finance and financial stability. Panel data of 160 countries over the period of 2004–2024 have been collected and analyzed by using Moment Quantile Regression (MMQREG). The robust outcomes show that digital finance significantly improves financial stability. This study aims to contribute to the existing literature. The findings of this study will help policymakers in designing effective or supportive policies for digital financial services. Findings may inform policies aligned with SDG 8: promote sustained, inclusive, and sustainable economic growth.

Macroeconomic stability is a vital foundation for sustained economic growth; however, the mechanisms by which economic education influences aggregate stability have not been fully mapped. This study aims to examine the influence of economic education on macroeconomic stability, with financial literacy as a mediating variable and digital financial inclusion as a moderating variable. Employing a quantitative explanatory approach, data were collected from 400 respondents of productive age in Indonesia through structured online surveys (September-November 2025). Data analysis utilised Partial Least Squares - Structural Equation Modelling with SmartPLS 4.0. Results demonstrate that economic education positively and significantly influences macroeconomic stability (β=0.215, p=0.001). Financial literacy was partially confirmed to mediate this relationship (β=0.340, p<0.001), functioning as a crucial transmission mechanism through risk management, savings, and policy channels. Furthermore, digital financial inclusion was found to moderate positively (β=0.185, p=0.004), strengthening the impact of financial literacy on economic stability; higher digital access accelerates the effectiveness of prudent financial decision-making. These findings extend Human Capital Theory by demonstrating that the impact of economic education transcends individual productivity to encompass the resilience of the national economic system. Practically, the research recommends integrating financial life-skills curricula and digital inclusion policies accompanied by educational verification to mitigate systemic risks, particularly in emerging markets such as Indonesia.