Sustainable Economic Growth Research Articles

Navigating the economic tightrope: Exploring governance, public debt, and their influence on South Africa’s capital formation

This paper explores the interconnected dynamics between governance, public debt, and domestic investment (also known as gross fixed capital formation (GFCF) in South Africa). It also highlights domestic investment as a key driver of economic growth, noting a consistent decline in investment since the country’s democratic transition in 1994. Moreover, this downward trend is exacerbated by excessive public debt, poor governance, and increased economic risks, discouraging domestic and foreign investments. The analysis incorporates two theoretical perspectives: endogenous growth theory, which stresses the significance of local capital investment and innovation, and institutional governance theory, which focuses on the role of governance in promoting economic development. The study reveals that poor governance, rising debt, and high economic risks have impeded GFCF and economic stability. By utilizing quantitative data from 1995 to 2023, the research concludes that reducing public debt, improving governance, and minimizing economic risk are critical to revitalizing domestic investment in South Africa. These findings suggest that policy reforms centered on good governance, effective debt management, and economic stabilization can stimulate investment, promote growth, and address the country’s economic challenges. This study offers insights into how governance and fiscal policies shape investment and capital formation in a developing nation, providing valuable guidance for policymakers and stakeholders working towards sustainable economic growth in South Africa.

Research on consumer awareness and attitudes towards green financial products in Vietnam

This study explores Vietnamese consumers’ perceptions and attitudes towards green financial products, including green bonds, green investment funds, and green insurance. Utilizing a mixed-method approach, the research combines quantitative surveys and qualitative in-depth interviews to assess the awareness, attitudes, and willingness of Vietnamese consumers to engage with these eco-friendly financial options. The findings indicate a varying level of awareness and a generally positive attitude towards green financial products, albeit with some reservations regarding their perceived risks and benefits. The study concludes with recommendations for enhancing consumer education and promoting the adoption of green financial products, thereby supporting sustainable economic growth in Vietnam.

What are the facts that affect the green investment funds and green entrepreneurship?

Purpose Green investment funds are still imperative in clarifying the fundamental components of their relationship to sustainability. This study aims to investigate the impact of different factors, such as green product design and innovation, green product entry barriers and green environmental awareness, on the success of green investment funds projects to finance environmentally friendly products. The research also investigates how green investment funds facilitate these factors to encourage environmentally sustainable business. Design/methodology/approach This paper used a questionnaire to collect insights from 210 green entrepreneurs in Asia, Africa, Europe and America. The data were then investigated using statistical tools, such as quantitative analysis of green entrepreneur surveys collected from various industries. The relationship between green product design and innovation, barriers to entry, environmental awareness and green entrepreneurship performance was investigated using partial least squares structural equation modelling, with green investment funds as a mediator. Findings The results indicate that every construct/variable included in the study supported the success of the sustainable business. The observation was made that the development phase tends to diminish the positive relationship between the success of green investment funds and green product codesign strategies. Implementing green product design and innovation improves the success of a green firm. Also, the progress of such companies might be hindered by entry barriers, and corporate performance is improved by environmentalism. This study found the role of green investment funds in promoting product innovation and positive environmental outcomes while reducing barriers to entry. Significance of the study Given these results, this work provides a theoretical explanation. Also, it gives doable recommendations for more successful green investment funds of environmentally friendly goods. The analysis emphasises the need for green product innovation and investment funds to mitigate entry obstacles. Corporate entities, investors and lawmakers receive pragmatic guidance on sustainable business practices. Originality/value This research, unique because of its multidisciplinary methodology and theoretical advances, examines the relationship between business, finance and sustainability. It provides valuable insights for academics, professionals and decision-makers, enhancing the understanding of green investment and entrepreneurship and offering practical global sustainable economic growth strategies. This paper investigates the impact of green investment funds on product innovation, entry obstacles, environmental consciousness and the success of green entrepreneurs. To the best of the author’s knowledge, this study is one of the limited numbers that models these features, enhancing the precision of green project success information.

The Role of Education Quality in Economic Growth

This paper explores the mechanisms through which educational quality impacts economic growth, as well as the successful experiences and failures of different countries and regions in this regard. In the context of globalization and technological advancements, educational quality has become a key driver of economic growth. The paper first reviews theories such as human capital theory, new economic growth theory, and theories related to social mobility and inclusive growth, explaining how education contributes to economic growth by enhancing labor quality, promoting technological innovation and diffusion, improving health and demographic structures, and increasing social capital. Subsequently, through the analysis of successful cases from developing countries like China and failures arising from inadequate or poorly structured educational systems, the paper provides specific empirical evidence. Finally, the paper summarizes the critical role of educational quality in economic growth and offers corresponding policy recommendations, including investments in basic education, strengthening higher education and vocational training, and promoting educational equity, with the aim of helping countries around the world improve educational quality and foster sustainable economic growth.

A Comparative Study of the Bank Supervisory Systems of China and the United States from an International Perspective

This research delves into a comprehensive analysis of the banking regulatory systems of China and the United States, highlighting both the convergences and divergences. It aims to understand the profound implications these systems have on the global financial landscape. Recognized as economic powerhouses, the financial regulatory frameworks of these nations are pivotal for ensuring stability and fostering sustainable economic growth. Utilizing empirical data and descriptive methodologies, this paper presents a detailed comparative analysis of the historical progression, underlying philosophies, policy mechanisms, and market reactions of the banking regulations in both countries.Key findings reveal that the United States banking regulatory structure is distinguished by its robust legal framework and industry-specific regulation, while China's system is characterized by its macro-prudential oversight and coordinated financial regulatory mechanisms. The evolution of these regulatory architectures not only charts the financial development path of each nation but also mirrors their economic structures' idiosyncrasies. In terms of strategy, the United States prioritizes regulation's binding nature and the market's self-regulatory capabilities, whereas China reinforces the central bank's leadership within its regulatory framework. The study concludes that an efficient regulatory structure should be tailored to fit the unique context of each country, balancing regulatory rigor with market agility. It suggests that China could benefit from the United States's regulatory insights while upholding its regulatory strengths. The insights contribute to the development and refinement of global financial regulatory policies and serve as valuable references for addressing financial market challenges.

The Impact of Green Finance on the Eco-friendly Transformation and Innovation of Heavily Polluting Enterprises

As environmental concerns continue to escalate, green finance has become a pivotal instrument for fostering sustainable economic growth, attracting heightened attention. This article, by reviewing literature and empirical analyses from 2018 to 2024, explores the mechanism by which green finance influences heavily polluting enterprises to promote green transformation and innovation. The results of research confirm that green finance will intensify the financing constraints and pressures on heavily polluting enterprises, thereby motivating them to accelerate transformation or innovation; at the same time, green finance also advances the improvement of market regulation, bringing green talent flow; in addition, green credit, as the main proportion of green finance, is also gradually playing its positive role in a larger range. Through the literature research, this article believes that green finance policies provide a variety of choices, which strongly foster the development of green industries and stimulate enterprises to undergo autonomous transformation and innovation; it also provides relevant suggestions for the green transformation of heavily polluting enterprises in various industries.

Innovative Culture: A Fifty-year (1972-2023) Analysis and Future Direction

Researchers, organizations, and policymakers have underlined the necessity of innovation for sustained economic growth. Few studies have applied bibliometric analysis to the term "innovative culture". This bibliometric study aims to evaluate the global trend in "innovative culture" by analyzing related publications in the Scopus database. The bibliometric map was analyzed utilizing VOS Viewer 1.6.19. The research employed Scopus as the primary database to extract relevant articles. Nevertheless, relevant literature from other databases has not been included. Scopus assessed 1,224 academic articles from 1972 to 2023. The United States and China lead "innovat* culture" research. The co-authorship analysis discovered that the United States had the most international collaboration. The analysis of author's keywords indicated that "developing countries" and "product innovation" were important directions for studying innovative culture. Further studies are recommended to address this potential limitation. This paper offers implications and insights for the related field, guiding future research toward effectively investigating innovative culture.

Innovative Culture: A Fifty-year (1972-2023) Analysis and Future Direction

Researchers, organizations, and policymakers have underlined the necessity of innovation for sustained economic growth. Few studies have applied bibliometric analysis to the term "innovative culture". This bibliometric study aims to evaluate the global trend in "innovative culture" by analyzing related publications in the Scopus database. The bibliometric map was analyzed utilizing VOS Viewer 1.6.19. The research employed Scopus as the primary database to extract relevant articles. Nevertheless, relevant literature from other databases has not been included. Scopus assessed 1,224 academic articles from 1972 to 2023. The United States and China lead "innovat* culture" research. The co-authorship analysis discovered that the United States had the most international collaboration. The analysis of author's keywords indicated that "developing countries" and "product innovation" were important directions for studying innovative culture. Further studies are recommended to address this potential limitation. This paper offers implications and insights for the related field, guiding future research toward effectively investigating innovative culture.

Innovative Culture: A Fifty-year (1972-2023) Analysis and Future Direction

Researchers, organizations, and policymakers have underlined the necessity of innovation for sustained economic growth. Few studies have applied bibliometric analysis to the term "innovative culture". This bibliometric study aims to evaluate the global trend in "innovative culture" by analyzing related publications in the Scopus database. The bibliometric map was analyzed utilizing VOS Viewer 1.6.19. The research employed Scopus as the primary database to extract relevant articles. Nevertheless, relevant literature from other databases has not been included. Scopus assessed 1,224 academic articles from 1972 to 2023. The United States and China lead "innovat* culture" research. The co-authorship analysis discovered that the United States had the most international collaboration. The analysis of author's keywords indicated that "developing countries" and "product innovation" were important directions for studying innovative culture. Further studies are recommended to address this potential limitation. This paper offers implications and insights for the related field, guiding future research toward effectively investigating innovative culture.

Economic Growth in Indonesia: A Comparative Study of Conventional and Islamic Economic Theories

This article discusses the theory and dynamics of economic growth in Indonesia with a focus on comparative analysis between conventional and Islamic economic approaches. The period studied covers the years 2018 to 2023, during which both economic systems show significant developments in their contribution to national economic growth. Conventional economics, with key indicators such as Gross Domestic Product (GDP) and per capita income, focuses on the accumulation of capital, labour, and technology. In contrast, Islamic economics prioritises the principles of justice, social welfare and the prohibition of usury, which are realised through instruments such as ZISWAF (Zakat, Infaq, Sadaqah and Waqf) and sharia-based finance. Through a descriptive-analytical approach, this article identifies the advantages and challenges of both approaches. Conventional economics offers rapid growth but often faces problems of inequality and social exclusion. On the other hand, Islamic economics contributes to financial inclusion, economic equity and poverty alleviation, although it faces constraints in legal and regulatory infrastructure. The analysis shows that integration between the two approaches can provide a holistic solution for inclusive and sustainable economic growth in Indonesia, and support the achievement of the Sustainable Development Goals (SDGs).

Unveiling the Drivers of Economic Growth in Somalia: The Role of Energy Consumption, Environmental Pollution, and Globalization

The fundamental goal of economic policy in most countries around the world is to achieve sustainable economic growth. Energy serves a crucial role in fostering sustainable economic growth in both developing and developed nations. Hence, the study aims to explore the impact of energy consumption, environmental pollution, and globalization on economic growth in Somalia using data from 1990 to 2020 for all variables. The study employs the autoregressive distributed lag (ARDL) bound test. The empirical results of the bound test indicate that energy consumption and globalization are statistically significant and have a positive effect on economic growth. In addition, environmental pollution has a negative impact on economic growth in Somalia. Moreover, the findings revealed that energy consumption and globalization promote economic growth. while environmental pollution harms economic growth in Somalia. Based on the empirical evidence, the study provides several policy implications.

Advancing fishing technology education and research: a 65-year legacy at Nha Trang University, Vietnam

As a coastal country, Vietnam relies on marine exploitation for food security and livelihoods. Training human resources to research, exploit, and manage marine resources is an important strategy to maintain rapid and sustainable economic growth and development. Official training in fishing technology at Nha Trang University (NTU) started in 1959. With 65 years of teaching, the unique program only offered at NTU, has made significant contribution to social-economic development in general and sustainable marine fisheries in particular. In this paper, we review the major achievements in teaching and scientific research in fishing technology at NTU as well as highlight the challenges and progress. Over the years, thousands of students have been trained under the fishing technology program and they then have worked all over the country, working in fisheries management, science, and services. Hundreds of research projects and peer-reviewed papers have been conducted and published. Those have supported fishing efficiency, environmentally friendly fishing methods, and effective management. However, the number of fishing technology students has decreased during the past few years because of unfavorable study and working environments where students are often exposed to commercial fishing vessels that frequently operate under rough weather conditions. Despite challenges and difficulties, NTU is determined to maintain the program to support the ocean economic development of the nation.

Pengaruh Pendapatan Asli Daerah dan Pajak Daerah dan Kemiskinan pada Pertumbuhan Ekonomi di Gorontalo

This study aims to analyze the influence of Local Own-Source Revenue (Pendapatan Asli Daerah, PAD), regional taxes, and poverty levels on economic growth in Gorontalo Province during the 2013– 2024 period. PAD and regional taxes are essential indicators of a region's fiscal independence in funding development, while poverty acts as an impediment that can reduce productivity and consumer purchasing power. The research employs quantitative analysis using secondary data obtained from the Central Bureau of Statistics (BPS) and regional financial reports. The results indicate that PAD and regional taxes have a significant positive impact on economic growth, while poverty levels have a significant negative effect. Increased PAD and regional tax revenues contribute to public investment, infrastructure development, and social services, supporting economic activities. On the other hand, high poverty levels slow down economic growth due to limited purchasing power and reduced participation in productive activities. In conclusion, optimizing PAD and regional tax management, along with effective poverty alleviation policies, is crucial to fostering inclusive and sustainable economic growth in Gorontalo. This study is expected to serve as a reference for local governments in formulating more targeted economic development strategies.

Analyzing the Heterogeneity of Economic Development and Carbon Emissions in the GCC Countries: Based on Panel Quantile Regression Approach

This study explores the effects of energy use, tourism development, financial growth, foreign direct investment on economic growth, and the carbon emissions nexus for GCC countries from 1980 to 2018. GCC nations are currently facing higher demand and use of energy sources, FDI, tourism development, and improving financial sector that represents the major sustainable environmental and economic growth challenges. This study applies a Panel Quantile-Regression model that accepts distributional and unobserved individual heterogeneity. Furthermore, to avoid a response variable bias, some concerned cause variables are heterogeneous across quantiles in our method. The empirical outcomes indicate that the influence of FDI on CO2 emissions is statistically significant and negative, while tourism growth, energy use and financial growth have an ever-increasing impact on carbon emissions. Likewise, tourism growth decreases economic growth while FDI and energy use have been found to affect economic progress positively. Finally, the research outcomes also support policymakers with significant strategic recommendations.

Impact of Energy Transformation on Economic Productivity and Environmental Sustainability in Toba-Asahan, Indonesia

This study explores the influence of energy transformation on economic productivity and environmental sustainability in the Toba-Asahan region. The focus is on how renewable energy impacts community productivity, addressing a critical research gap in the literature. While energy transitions have been widely studied in other regions, specific research on their effects in Toba-Asahan remains limited. This study uniquely explores how human resources mediate the impact of renewable energy on community productivity in Toba-Asahan, shifting focus from environmental effects to economic productivity in a region previously under-researched in energy transformation studies. Using Structural Equation Modeling (SEM) based on data collected from 230 respondents, this research analyses the relationship between human resources, energy utilization, and productivity. The findings reveal that human resources have a significant positive impact on both energy utilization and productivity. However, the direct effect of energy on productivity is found to be statistically insignificant. The study concludes that enhancing human capital and increasing community awareness of renewable energy’s benefits are essential for maximizing productivity and achieving sustainable economic growth in the Toba-Asahan region.

Assessment of the Impact of Government Health Expenditure on Economic Growth in Nigeria

This study evaluates the impact of government health expenditure on economic growth in Nigeria between 1992 and 2021 using the ordinary least squares model which was used to perform the estimation for the variables that were determined to be stationary at first difference were evaluated for stationarity. According to the model’s estimated results, neither of the independent variables government capital or recurrent health spending has a discernible impact on Nigeria’s economic expansion. The independent variables were not significantly significant, this could be attributed to the lack of strength of indirect effects and the time lag between ongoing healthcare costs and the overall economy. Additionally, in Nigeria, poor machine quality, unfinished projects, and corrupt officials might be blamed for health expenditures, which decreased the standard of healthcare and general wellness. The study recommended that the government should put in place the facilities needed for people to use healthcare and to maximize wellbeing to improve health outcomes and the government should ensure efficiency and transparency of health expenditure, alongside increased investment in the health sector to stimulate sustainable economic growth in Nigeria.

Identification and Ranking of Factors Affecting Unemployment in Afghanistan (Case Study: Herat Province)

Unemployment remains one of the most critical economic challenges facing Afghanistan, and Herat Province is no exception. Despite its strategic location and relative economic stability compared with other regions, Herat experiences high levels of unemployment, adversely affecting its social and economic development. This research aims to identify and rank the factors influencing unemployment in Herat province using both quantitative and qualitative research methodologies. This study examined various factors, including political instability, economic underdevelopment, lack of infrastructure, and inadequate education and vocational training. Through surveys and statistical analyses, this study evaluates the significance of each factor contributing to unemployment. Political instability emerged as the most significant factor, followed by economic stagnation, weak infrastructure, and inadequate education systems. The findings of this study are crucial for policymakers in Afghanistan, offering insights into the necessary reforms to reduce unemployment and enhance economic stability in Herat. These results suggest that improving political stability, investing in infrastructure, and enhancing human capital through education and vocational training can lead to reduced unemployment and sustainable economic growth.

التأثير المتبادل للتعليم وعوامل النمو الاقتصادي المستدام: دراسة تحليلية للمدة (1997-2023) فنلندا نموذجا

In today's digital age and in light of the modern developments directed by the world, education plays a pivotal role in promoting the values that promote sustainable development. The study aimed to study the impact of mutual education and factors of sustainable economic growth during the period (1997-2023) using the Least Squares method and adopting the software (Eviews10). The research reached several results, including that the effect of the variable of total public spending on education is significant but negative on economic growth. Because that The state of Finland has reached high subscription services even if it has achieved education without increasing spending on education, so the lowest average level in public spending is providing services or direct financing services from starting children and their subjects, which is much higher than modifying and improving work functions can improve the type Services, education, and their comprehensive care, when appropriate conditions are available for this, will affect their control and good job satisfaction.

Evaluation on the Development of Education System and Unequal Distribution of Educational Resources

Education and the economy are mutually reinforcing. Education is a key way to cultivate human capital, through which people can acquire knowledge and skills, improve productivity, and thus promote economic growth. Economic growth can provide more educational opportunities, including higher education and vocational education, so that more people can receive further education. The relationship between education and the economy is dynamic and constantly changing with the development of society, economy and technology. Effective education policies and economic development strategies need to be coordinated with each other to achieve sustainable social progress and economic growth. The article focuses on analyzing the problem of unequal resource allocation and the misperception of education for most people. Students should have the same educational resources, and parents should reasonably accept a path that suits their children and change their perceptions on grassroot occupations. Along with the government creating a good and fair educational environment, students pressure can be released.

Dynamics of Arbitration Choice as an Alternative Dispute Resolution for Business Disputes

The arbitration mechanism as an alternative dispute resolution for business in Indonesia offers advantages such as speed, confidentiality, and specialization of the arbitrator. However, its effectiveness is hindered by various factors, including non-compliance with arbitration awards and the varying quality of arbitrators. This research employs a normative legal research method, analyzing applicable regulations and legal doctrines related to arbitration in Indonesia, particularly Law No. 30 of 1999 concerning Arbitration and Alternative Dispute Resolution. Findings indicate that while arbitration is preferred due to its efficiency, challenges such as low compliance with awards, concerns about arbitrator quality, and complexities in the selection process persist. Additionally, legal culture and issues like corruption significantly affect the choice of arbitration. To enhance the effectiveness of arbitration, regulatory reforms, improvements in the quality of arbitration institutions, and education for business actors are essential. Strengthening the relationship between arbitration and the judiciary is also crucial for fostering trust in this mechanism. In conclusion, improving arbitration as a dispute resolution method in Indonesia requires a comprehensive approach, including regulatory enhancements, better education, and quality assurance for arbitrators. By addressing these challenges, arbitration can become a more reliable choice for business actors, supporting sustainable economic growth in Indonesia.