Tool For Economic Development Research Articles

The global polarisation of remote work.

The Covid-19 pandemic has led to the rise of digitally enabled remote work with consequences for the global division of labour. Remote work could connect labour markets, but it might also increase spatial polarisation. However, our understanding of the geographies of remote work is limited. Specifically, in how far could remote work connect employers and workers in different countries? Does it bring jobs to rural areas because of lower living costs, or does it concentrate in large cities? And how do skill requirements affect competition for employment and wages? We use data from a fully remote labour market-an online labour platform-to show that remote platform work is polarised along three dimensions. First, countries are globally divided: North American, European, and South Asian remote platform workers attract most jobs, while many Global South countries participate only marginally. Secondly, remote jobs are pulled to large cities; rural areas fall behind. Thirdly, remote work is polarised along the skill axis: workers with in-demand skills attract profitable jobs, while others face intense competition and obtain low wages. The findings suggest that agglomerative forces linked to the unequal spatial distribution of skills, human capital, and opportunities shape the global geography of remote work. These forces pull remote work to places with institutions that foster specialisation and complex economic activities, i. e. metropolitan areas focused on information and communication technologies. Locations without access to these enabling institutions-in many cases, rural areas-fall behind. To make remote work an effective tool for economic and rural development, it would need to be complemented by local skill-building, infrastructure investment, and labour market programmes.

A FUZZY MULTI-CRITERIA FRAMEWORK FOR THE DEVELOPMENT OF SUSTAINABLE COMMUNITY-BASED TOURISM IN MALAYSIA

Community-based tourism (CBT) is a growing niche market that has positively impacted many developing countries including Malaysia. CBT in Malaysia is recognised as the Malaysian Homestay Experience Programme (MHEP) which is under the coordination of the Ministry of Tourism, Arts and Culture. Previous studies have looked into stakeholders’ contributions and the roles they play in the MHEP. However, the sustainability criteria from the multi-stakeholder perspective should be understood. The collaboration between tourism stakeholders is pivotal in understanding their perspective by considering their diverse viewpoints on critical issues and bridging the current knowledge gap. This research aims to investigate how stakeholders could participate more efficiently in developing and employing a sustainable MHEP. This study applied a mixed-method approach and was divided into two phases. The first phase was the multistage qualitative research and the second phase involved a questionnaire survey with structured questions distributed to the multi-stakeholders. Academicians, government agencies, non-governmental organisations, businesses, host communities, homestay coordinators and tourists were involved in the data collection process. The study applied a two-stage methodology by integrating two multi- criteria decision-making techniques, Decision-Making Trial and Evaluation Laboratory and analytic network process to extend the existing evaluation criteria and weightage. The multi-criteria framework will provide stakeholders as decision-makers the ability to devise plans that are sustainable and compatible with conservation and rural development strategies. This study is decisive in helping stakeholders develop sustainable CBT and contribute to government policies, specifically in terms of MHEP development and management aligned with the Malaysia rural development policy. Sustainable CBT can be an efficient rural economic development tool to generate broader economic distribution and create a more comprehensive spatial development. Furthermore, this study also provides valuable insights for tourism policymakers in terms of efficient policy interventions related to CBT in accelerating sustainable development involving environmental, economic and socio-cultural growth.

Research on The Path of China's Green Finance to Support the Development of Low-carbon Economy

Green finance is a financial business that uses a combination of direct and indirect financing to rationalize the use of ecological resources and achieve economic development and environmental protection at the same time. Green finance is one of the effective policy tools for high-quality economic development. As an important part of developing low-carbon economy, developing green finance is an inevitable trend of financial development. This paper analyzes the main types and problems of green finance in the context of low-carbon economy, and puts forward policy suggestions for green finance to support the development of low-carbon economy.

Insurance Literacy, Risk Knowledge Management, Risk-Taking Propensity and Economic Sustainability among SMEs: The Moderating Effect of Financial Inclusion

Small and medium enterprises (SMEs) are known worldwide as tools for economic growth and development as they lead to job creation, improved living standards, sustainable development and poverty eradication. However, complicated risks in production, operation, management, and risk-based decision-making in business has troubled the sector. This study examines the moderating effect of financial inclusion on the relationship between insurance literacy, risk knowledge management, risk-taking propensity and economic sustainability of Nigerian SMEs. Data was collected from 370 SMEs registered with the Small and Medium-scale Enterprise Development Agency of Nigeria (SMEDAN) using self-administered questionnaires. The study employs structural equation modelling (SEM) using AMOS 26.0 software for analysis. The study used multi-group analysis to determine the group in which the effect of moderation is more pronounced. The SEM produced a variety of findings; the path coefficients in the model and the results of the hypothesis testing show that insurance literacy (IL) significantly affects economic sustainability (ES). Also, the path coefficient between risk knowledge management (RKM) and economic sustainability shows a positive and significant relation, indicating that risk management (RM) has a significant positive impact on ES. Finally, the results show that risk-taking propensity (RTP) significantly affects ES. The results of the moderation also revealed that financial inclusion moderates the relationship between IL, RM, RTP and ES. However, the multi-group analysis shows that the effect is more pronounced in the ABC group than the NABC group.

State Economic Impacts of Industrial Park Development: Evidence from Virginia’s Tobacco Region Megasite Program

Industrial park development is commonly advocated by state and local economic developers to aid in business attraction efforts. However, there is limited evidence of its effectiveness in promoting economic growth, particularly in rural and lagging regions in comparison to other economic development tools. This paper examines the literature on the relationship between business site availability and economic development and the rationale for public sector industrial land development assistance. Results from a survey of local economic developers in Virginia are used to characterize industrial park absorption and occupant attributes. Using this information, ex-ante state economic and tax revenue impact analyses are performed for a state-funded industrial park development program serving a rural region of Virginia, the Tobacco Region Megasite Program. The paper examines conditions that affect the economic and tax revenue impact potential of industrial parks and highlights remaining information gaps.

Destination branding as new tool for economic development: a qualitative approach with reference to Jaunsar Bawar Region, Uttarakhand

ABSTRACT The purpose of the study is to explore the antecedents of destination branding and understand how destination branding can be used as a tool to enhance economic development of a region. The current study is exploratory in nature and uses a qualitative approach to understand destination branding. Nineteen interviews were carried out to gain understanding on destination branding and how does it affect economic development. The interviews conducted were semi-structured and open-ended. The data were analysed using content analysis and NVIVO software. Our research contributes to this crucial but less exploited domain. The conceptual framework has been proposed which identifies destination branding as an outcome of eight factors and explores its relationship with economic development. It found that destination branding consists of festival tourism, food tourism, agro tourism, and cooperative agriculture, education tourism, heritage tourism, wine tourism, local culture and old architecture, etc. The findings will help policy makers to develop strategies to make Jaunsar Bawar as a destination brand and stimulate economic development of the tribal region. It enhances understanding of destination branding in tribal area by adding a new dimension to existing literature.

Local immigrant support policies in the context of economic development

ABSTRACT Immigration has been found to be an economic stimulus to cities increasing entrepreneurialism, driving up wages for all workers, reducing crime, and rejuvenating local neighborhoods and business areas. Given the array of potential benefits of immigrants, local governments may consider attracting and supporting immigration as an economic development tool. Using data from two national surveys conducted by the International City/County Management Association on immigrant supportive and economic development policy, the research finds that generally, the use of immigrant supportive policies is less prevalent than more traditional economic development policies. Further, local officials do not appear to be conceptualizing immigrant supportive policies as part of their economic development efforts. Yet, there are municipalities and counties that balance the use of the two types of policies.

BANKING SECTOR AND ECONOMIC DEVELOPMENT

Purpose- The most important tool in economic development is investments. Funds are needed for investments. Funds are obtained through domestic savings or foreign sources. Resources are known to be limited. For this reason, strong financial systems are needed. The banking sector is an important element in the financial system. The banking sector provides the collection and use of savings. In other words, the banking sector is closely related to economic development. The aim of this study is to examine the relationship between economic development and the banking sector. Methodology- BRICS-T countries are discussed in the study. Panel data for the 2001-2019 period were used. Human Development Index and domestic credit to private sector by banks (% of GDP) were used as variables. First, cross-section dependence tests were performed. Then unit root tests were applied. Heterogeneity was determined by delta test. In the last stage, causality test was applied. Causality was examined by the panel causality test developed by Dumitrescu and Hurlin (2012). Findings- Cross-sectional dependence tests showed that there is crossal-section dependence in the variables and the model. The stationarity of the series was obtained by the CADF test, which is one of the second generation panel unit root tests that takes into account the cross-sectional dependence. Delta test results showed that the slope coefficients were heterogeneous. It has been determined that the cross-sectional dependence and slope coefficients of the model are heterogeneous. The results of the Dumitrescu-Hurlin panel causality test applied showed that there is causality between the banking sector and economic development. Conclusion- The results of the research show that the banking sector contributes to the development of individuals. The increase in human development shows that there are educated, healthy and high-income people in a country. If the banking sector affects human development, human development activities will increase. High-quality human development will increase the level of technological knowledge, productivity in production, and therefore economic growth. Keywords: Banking sector, causality, economic development, human development index, panel data analysis JEL Codes: B26, G20, G21

Crédito rural no Espírito Santo: análise dos resultados dos anos 2000 a 2012

O presente trabalho é um estudo sobre a política de crédito rural no Espírito Santo, definida como instrumento importante no desenvolvimento econômico e social, através do atendimento das necessidades dos produtores que precisam de recursos que possibilitem seus investimentos. Sua função é ainda mais importante no Espírito Santo, uma vez que o território capixaba é em sua maioria agrário, sendo que a área efetivamente urbanizada se concentra em poucas cidades situadas principalmente na região Metropolitana. Assim, analisar e caracterizar os resultados da política do crédito rural no estado é imprescindível para entender o apoio que o setor está a receber através de tal política. Desse modo, o objetivo é caracterizar a política de crédito rural no estado capixaba a partir da determinação do atual cenário da sua economia, do entendimento dessa política agrária e da análise dos dados do crédito direcionado ao campo.

Project Environment and Outlook within the Scope of Technologically Integrated European Green Deal in EU and Ukraine

Issues of environmental security, fuel and energy independence have been forming political and economic territories for several centuries. Current events in Ukraine have become a litmus test, which clearly highlights the dangers of resource monopolies and the transfer of economic benefits. The issue of ensuring the energy system in climate neutrality became relevant even before the aggression by Russia. However, today, there is no country, it has not recognized that there is the urgent need to develop and implement effective tools for economic development in a sustainable environment. The modern cost-oriented model of knowledge of economic processes has led not only to the irrational use of natural potential. Large-scale use of natural resources and the irrational organization of production (including agricultural) disrupt the process of their reproduction, which, in turn, leads to the depletion of bioresources and, as a consequence, can lead humanity to ecological catastrophe. Certain solutions have been proposed to address these issues. To ensure the efficient use of the resources of the agricultural sector and the reliable reflection of biological processes, it is proposed to recognize the biological form of capital as self-growing and self-reproducing value, which, in the process of biological transformation, allows obtaining an additional unit of benefits. The study examines, in detail, the promising areas of the transformation of the agricultural sector in the framework of a technologically integrated European Green Deal in the EU. In this study, to determine the potential opportunities for the ecological transformation of agriculture, discrete analytical models of the assessment of the agro-industrial complex of Ukraine were used. Representative data use statistical indicators of Ukraine and, to illustrate potential opportunities, present a comparison of export data to EU countries. In addition, it reveals the realized and potential opportunities of Ukraine’s entry into the European market through the prism of the implementation programs of EU environmental policy. The place and significance of assimilation potential for a reduction in the anthropogenic impact on the environment, and providing the self-restoration of natural resources, are substantiated. It is determined that one of the most effective tools for low-cost reduction in greenhouse-gas emissions is the national-level implementation of environmental-quota trade and the development of organic production. The study includes an analytical assessment of the expected emission reductions from environmental initiatives’ implementation. Prospects for further research are the development of an effective mechanism for the systematic management of the biological potential reproduction of the agricultural sector while reducing anthropogenic impact on the environment.

First-year Students’ University and Programme Selection at a South African University:

Higher education is a tool for social and economic development as well as global competitiveness. It is thus crucial for students to make informed decisions when enrolling at university and, ultimately, deciding what career to pursue. This article offers insights into the factors that influence students’ selection of a university and programme, focusing on students at a historically disadvantaged university in the Eastern Cape, South Africa. Data was gathered by means of qualitative focus groups and convenient sampling was employed to select the sample from a population of first-year students. The findings indicate that residential proximity to the university, the university’s reputation, programme image, entry requirements, affordability and funding influence university selection. With regard to programme selection, the factors considered include background dynamics, the subjects involved, failure to meet the requirements, family, peer or the influence of others, failure to be selected for first choice programmes, a lack of career guidance and funding availability. It was thus found that university selection was principally influenced by the student’s informed choice while programme selection was largely influenced by external factors.
 Key words: University, programme, selection, students, higher education

Districts of Innovation in the World

The 20th anniversary of the innovation district of Barcelona, the 22@Barcelona, provides the rationale for this special issue. Key actors in the academia, organisations and institutions from several innovation districts around the world, have joined this celebration project that has materialized in the collection of articles that conform “Districts of Innovation in the World”. The result is a unique compilation of experiences, analysis and evaluations that evidence the relevance of innovation districts as tools for urban, economic and social development but also as urban cores of production of technology and innovation. Benefiting from years of exchange of ideas and mutual collaboration, this special issue offers, from an evolutionary perspective, an analysis of the transitions, adaptations and mutations that innovation districts have experienced around the world.

Effects of integrated rural tourism planning on communities’ employment in Makueni County Kenya

One of the important tools for economic development in developing countries is rural tourism. In many developing nations, rural tourism is seen as a strategy for economic development. In Kenya, tourism is primarily practiced in established cities and towns, ignoring regional locations with the potential to develop tourist-related products. The economic benefits of tourism are hampered by a lack of sectoral cooperation and community involvement in rural places like Makueni. Adoption of an integrated rural tourism development plan can help the marginalized rural communities to benefit more from tourism industry. This research sought to ascertain how integrated rural tourist planning in Makueni County affected local employment. The target population of this study, which used a cross-sectional survey approach, was 182, 000 residents, and a sample size of 385 respondents was considered to be representative. While respondents were chosen using stratified random, the study sites were determined using purposeful sampling. Structured questionnaires that were sent to the local populations in the chosen sub-Counties were used to collect primary data. In order to establish the impact of integrated rural tourism on communities' employment, data were analyzed using SPSS software and significant levels were sought at p≤0.05. According to the findings, seasonal employment (p=0.01), contract employment (p=0.01), and permanent employment (p=0.05) were all statistically significant. The findings demonstrate that integrated rural tourist planning positively impacts local communities' ability to create jobs. The study came to the conclusion that community participation in planning for the growth of rural tourism in Makueni County has a significant impact on the generation of jobs for local residents.

The Role of Creative Placemaking

The Role of Creative Placemaking

Applying Fiscal Tools for Economic Development and Localization of CO VID‑ 19 Impacts on a Case Study of South America

The tax system of any country as a tool to fill the budget is never static, constantly subject to development and improvement, so it is relevant to study and apply its progressive elements used by different states. The subject of the study is the current tax transformation in Brazil, Argentina, Colombia, and its task is to study and apply its results, since the pandemic particularly affected the economies of developing countries. Countries of South America have been actively pursuing tax reforms since the middle of the last century, but localizing the effects of COVID‑19 requires tax changes in this area at the present time. The tax transformation in Brazil has involved a tax on dividends, capitalization of accumulated profits and dividends paid in kind, corporate income tax and corporate reorganizations. The tax transformation in Argentina also takes place in terms of income tax (restrictions on depreciation payments, permanent establishment), but there are also areas, such as tax haven policy, capital gains tax on non-residents of Argentina, and taxation of controlled foreign companies. The author carried the research on using general scientific methods of analysis, comparison, and deduction. The results of the study of tax transformation in South American countries can, considering the specifics of our economy, find practical implementation in the tax’s improvement system in the Russian Federation. Thus, it is proposed to adapt the following tax instruments in order to localize the effects of COVID‑19: tax loss carryforwards, deduction of R&D expenses.

Analysis and Evaluation of the Dynamics of Hazelnut Production and Foreign Trade in Georgia in 2010-2020

One of the important tools of Georgia's economic development is to deepen international trade relations and increase its export potential. For this direction, it is even more important to strengthen the trade partnership relations with the EU countries. For this regard the conclusion of the Association Agreement with EU creates legal certainty of cooperation and high reliability for local manufacturers and exporting businesses to enter in The EU market. Hazelnut production holds an important place in Georgia's export production. Moreover, Georgia ranked 7th in the world in hazelnut production during 2017-2018 and is one of the major exporters of the product. More importantly, Georgia’s largest share of hazelnut exports is to EU countries (140 thousand tons were exported in 2010-2020, which is 67% of exported hazelnuts). This factor stimulates the production of hazelnuts. Hazelnut producers mainly are small local households, which is giving this matter more importance. Consequently, the involvement of the population in the hazelnut industry is high, which contributes improvement of their social-economical situation. In Georgia, Samegrelo-zemo Svaneti leads with high rates of hazelnut production, followed by Guria and Imereti regions. Given the relative efficiency of product sales, there is a growing trend of hazelnut production development in other regions, including Ajara. By analyzing the production dynamics in Adjara, assessing and considering the natural-climatic conditions, with the support of governmental, non-governmental and international donor organizations, the development of hazelnut production and its formation for one of its strategic purposes is a real perspective. Keywords: Hazelnuts, export, import, EU.

Current directions for increasing the role of marketing in qualitative improvement of agro management

Under conditions of modern transformations of social-and-economic processes in domestic and foreign markets a new architecture of marketing relations is being formed, characterizing the essence of marketing as a tool of economic development of the enterprise, including the agricultural sector. Therefore, consideration of characteristics of this model predetermines the methodological basis for development of a forward-looking management strategy for the organisation. The paper outlines the theoretical and applied foundations of the marketing approach to improving and increasing the quality of management in agricultural sector. Substantiation of relevancy of reorientation of management from the production dominant to the marketing dominant is presented, according to which business entities orient their production and sales activities to the real market demand, i.e. to satisfy the constantly growing and changing consumer demands. Transformation of principles, functions and methods of management are formed, as well as its content, that are adequate to the new (dominant) role of marketing, taking into account the predicted evolution of social, economic, institutional, ideological and moral foundations of human society. Based on the studies carried out, it was concluded that the practical implementation of new principles, methods and functions of management in the agricultural sector will be carried out mainly by ensuring the key role of scientific marketing in managing the adaptation of production and marketing of agricultural products, the structure and content of organizational and economic relations in the agro-industrial complex, processes of social rural development to modern and future economic conditions, reflecting in the aggregate innovative and market transformations in the economy and society. Economic, environmental and social advantages of adaptive farming systems based on the dialectical interaction of economic, natural and market factors of agricultural production have been substantiated. Priority directions for development of adaptive agro-ecosystems have been identified, with important place given to improve the specialization and diversification of production, development of organic technologies, production of meat products in accordance with the requirements of the Halal certificate, intended for the Muslim population. Proposals have been made to increase the level of marketing training based on improving the educational process and organizing consulting, disseminating advanced business practices.

Самозанятость как социально-экономическое явление: влияние на устойчивость регионального развития

One of the most important forms of labor is self-employment. The project launched in Russia to introduce a tax on professional activities stimulated the processes of self-employment legalization and it sets a number of research tasks, including the identification of the emerging consequences of the development of selfemployment processes for the economy. This article sets the following goal: on the basis of the study of the essence of self-employment as an economic phenomenon, the goal of research consists in the identification of trends in the development of this process in the southern regions of Russia and determines the directions for effectiveness growth of their impact on the sustainability of regional development. The objects of the study were the regions of the Southern Federal District. The study determined that self-employment can act as a consequence of economic problems and as a tool for economic development. The authors identified trends in the development of self-employment in Russia and in the regions of the Southern Federal District, revealed the accelerators of this process, and they are: professional training for entrepreneurial activity; growth of the level of financial literacy of the population; availability of loans for start-ups with transparent conditions for their provision; policy supporting labor migrants in their business in their native cities; provision of self-employed with quality services and servicing, including digital ones. Suggestions for the development of self-employment processes were made and they allow increasing regional sustainability when developing social capital. It is mentioned that today it is fundamentally important for the state to give citizens with such a tax status basic social guarantees, while maintaining favorable conditions for the development of platform employment, since the self-employed are less protected in terms of social guarantees and rights.

A COMPARATIVE STUDY OF THE ANTI-TRUST LAWS IN U.S, U.K AND INDIA WITH SPECIAL REFRENCE TO HORIZONTAL AND VERTICAL ANTI-COMPETITIVE AGREEMENTS

This article focuses upon the conceptualization of the term competition and how competition in the present era has been a potent tool for encouraging economic development and socio-economic welfare rather than curbing monopolies only. The article shall be contextualised highlighting the facts related to the enactment of the Competition Laws in India, U.S and U.K and its actual implementation with special reference to horizontal and vertical anti-competitive agreements. The aim of the article is to do a comparative analysis between the provisions dealing with anti-competitive agreements in U.S.A and U.K and section 3 of the Indian Competition Act in order todiscusses the need of competition in global economic market, and why at all this concept of competition is of utmost importance to us.The analysis done in the article strictly restricts to the interpretation given to anti-competitive agreements under section 3 of Competition Act in India and its comparison thereof with Antitrust Laws in U.K and U.S. The paper aims to highlight the scope and interpretation of anti-competitive agreements as it is among the most sanitizing issues recently in global market.

METHODOLOGY OF ASSESSING THE DIGITAL MARKETING’S IMPACT ON BUSINESS EFFICIENCY

Introduction. Application of information communications methods becomes an essential success element in current doing business conditions. Since contemporary information society increasingly needs new communication methods, the use of digital marketing in business is very efficient as it consistently evolves. Therefore, digital marketing is the tool to be used to develop business. The purpose. The article aims to outline the main methodological aspects of the role of digital marketing in the process based on the analysis and systematization of theoretical and practical approaches to a comprehensive assessment of the business marketing activity efficiency. Results. The article analyzes the research addressing the nature of the interpretation of the digital marketing concept. It substantiates scientific approaches to the subject and outlines the main tools in this phenomenon. The efficiency of impact the digital marketing introduction has on modern business is determined. A set of parameters of advertising efficiency and its impact on business processes are characterized. The main trends in the development of digital marketing tools and their impact on business efficiency are examined. The ways to expand digital marketing opportunities among domestic businesses are characterized. Conclusions. The article argues that the analysis of customers’ activity on informational websites based on such key aspects as attention → interest → desire → activity based on specific indicators (traffic, conversion, leads) should be carried out to improve business efficiency. The analyzed system of key indicators allows for carrying out a comprehensive assessment of business efficiency, estimating the effects of various activities, and determining and implementing the most efficient economic development tools. The ways to efficiently apply digital marketing to define the main contemporary problems that can affect business development and efficiency are declared. Keywords: digital marketing, business, efficiency, indicators, marketing activity, marketing audit.