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1 – 10 of over 224000This paper presents new evidence of the relationship between financial market development (banking sector) and economic growth for a set of seven Middle East and North African…
Abstract
This paper presents new evidence of the relationship between financial market development (banking sector) and economic growth for a set of seven Middle East and North African economies over the period 1965–2002. We find evidence that in six of the seven countries, banking-sector development Granger causes increases in economic growth. However, in three of those six countries, economic growth also Granger causes banking development. Our co-integration analysis reveals that there is a stable long-run equilibrium relationship between banking-sector development and economic growth for all our countries. However, based on vector error-correction models, there is limited evidence that banking-sector development boosts economic growth in the short run.
The purpose of this paper is based on China’s economic fundamentals. Factor input, structural optimization and institutional reform, which determine the fundamentals of China's…
Abstract
Purpose
The purpose of this paper is based on China’s economic fundamentals. Factor input, structural optimization and institutional reform, which determine the fundamentals of China's economic development, will actively prop up long-term, sustained and stable growth of the Chinese economy and keep China's potential economic growth rate stabilized within a reasonable growth range in the long term.
Design/methodology/approach
The fundamentals of economic development of a country are the basic situation of economic operation determined by the country's main factors and the long-term trend thereof, and they have such characteristics as stability, internality and persistence.
Findings
Stability refers to economic operation that remains relatively stable within a reasonable growth range at a certain stage of development, and this does not rule out exceptional economic fluctuations in certain years due to the impact of unexpected short-term factors. For instance, the fundamentals of the Chinese economy during the period after the reform and opening-up are characterized by a sustained high growth rate.
Originality/value
Internality refers to the intrinsic quantity and quality of all factors supporting the economic development of a country, especially the quantity and quality of the factors that play a decisive role in the economic development of a country at a specific stage. For instance, demographic dividend and capital formation have bolstered the high-speed growth of the Chinese economy since the reform and opening-up.
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This symposium examines issues related to local economic development financing. The symposium introduction paper consists of two sections: (1) a review of the literature related…
Abstract
This symposium examines issues related to local economic development financing. The symposium introduction paper consists of two sections: (1) a review of the literature related to local economic development in general and to the financing economic development in particular; and (2) a summary of major findings from the four symposium papers addressing such issues as rural bank loans, the tax increment financing program, professionalism in economic development, and regional development through tax sharing.
This symposium examines issues related to local economic development financing. The symposium introduction paper consists of two sections: (1) a review of the literature related…
Abstract
This symposium examines issues related to local economic development financing. The symposium introduction paper consists of two sections: (1) a review of the literature related to local economic development in general and to the financing economic development in particular; and (2) a summary of major findings from the four symposium papers addressing such issues as rural bank loans, the tax increment financing program, professionalism in economic development, and regional development through tax sharing.
Development sustainability of economic entities in the modern global universe: stakeholder approach.
The model of strategy implementation in the field of sustainable development.
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Abstract
Highlights
Development sustainability of economic entities in the modern global universe: stakeholder approach.
The model of strategy implementation in the field of sustainable development.
The system of key performance indicators (KPI) in the field of sustainable development.
Development sustainability of economic entities in the modern global universe: stakeholder approach.
The model of strategy implementation in the field of sustainable development.
The system of key performance indicators (KPI) in the field of sustainable development.
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Galina V. Vorontsova, Sergey I. Lugovskoy and Elena V. Kizil
The purpose of this work consists in formulating the game strategy of business integration in special economic zones and its advantages for the sustainable development of regions…
Abstract
Purpose
The purpose of this work consists in formulating the game strategy of business integration in special economic zones and its advantages for the sustainable development of regions of Russia.
Design/Methodology/Approach
The following methods are used in this work: comparative analysis, statistical method and the game method of business simulation.
Findings
The game strategy of business integration in special economic zones and its advantages for the sustainable development of regions of Russia are formulated. The government's requirements (within investing) and benefits in the context of taxation of income and property of the subjects of the economy and citizens, which exist within special economic zones of the Russian Federation, are analysed. The case advantages of activity (draft formulas of development) of the subjects of the economy within special economic zones of the Russian Federation are described compared to their possible individual development. The effects of implementing special economic zones, which are characteristic of the regions of their location, are revealed. A perspective formula for the development of participating enterprises of a special economic zone of the industrial type is formulated, and the directions for the optimisation of socio-economic and ecological development for a depressive region are given.
Originality/Value
The novel aspect of this research consists in determining the specific features of the game strategy of business integration in special economic zones and its advantages for the sustainable development of regions of Russia.
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Qazi Muhammad Adnan Hye and Irina Dolgopolova
The purpose of this paper is to construct a financial development index for China and to analyze the relationship between the financial sector development index and economic…
Abstract
Purpose
The purpose of this paper is to construct a financial development index for China and to analyze the relationship between the financial sector development index and economic growth.
Design/methodology/approach
This study uses Johansen‐Juselius cointegration approach to determine long run relationship between variables. To determine the strength of causal relationship variance decomposition is used. The stability of coefficient is evaluated through rolling window regression method.
Findings
The results of Johansen‐Juselius cointegration approach confirm long run relationship between financial development index and economic growth. Normalized cointegrating vector indicates that financial development index, real interest rate, capital and labor force positively determine economic growth in China. The yearly coefficient is provided by the rolling regression and indicates that financial development index negatively link to economic growth in 1991, 1992, 1994, 1995, 1999, 2000, 2003‐2005. Interest rate is negatively linked to economic growth in 1991‐1996, 2007 and 2008. The variance decomposition method validates that shocks in financial development index and real interest rate are explained by economic growth.
Originality/value
A financial development index for China is constructed and the relationship between economic growth and financial development is indicated.
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Malihe Ashena and Ghazal Shahpari
The significance of this research lies in providing an understanding of how economic conditions, including financial development, informal economic activities and economic…
Abstract
Purpose
The significance of this research lies in providing an understanding of how economic conditions, including financial development, informal economic activities and economic uncertainty, influence carbon emissions and tries to offer valuable insights for policymakers to promote sustainable development.
Design/methodology/approach
The Panel-ARDL method is employed for a group of 30 developing countries from 1990 to 2018. This study analyzes the data obtained from the World bank, International Monetary Fund and World Uncertainty databases.
Findings
Based on the empirical results of the extended model, an increase in GDP and energy intensity is associated with an 83 and 14% increase in carbon emissions, respectively. Conversely, a 1% increase in financial development and economic uncertainty is linked to significant decrease in carbon emissions (about 47 and 23%, respectively). Finally, an increase in the informal economy can lead to a negligible yet significant decrease in carbon emissions. These results reveal that financial development plays an effective role in reducing CO2 emissions. Moreover, while economic uncertainty and informal economy are among unfavorable economic conditions, they contribute in CO2 reduction.
Practical implications
Therefore, fostering financial development and addressing economic uncertainty are crucial for mitigating carbon emissions, while the impact of informal economy on emissions, though present, is relatively negligible. Accordingly, policies to control uncertainty and reduce the informal economy should be accompanied by environmental policies to avoid increase in emissions.
Originality/value
The originality of this paper lies in its focus on fundamental changes in the economic environment such as financial development, economic uncertainty, and informal activities as determinants of carbon emissions. This perspective opens up new avenues for understanding the intricate relationship between carbon emissions and economic factors, offering unique insights previously unexplored in the literature.
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Usman Farooq, Abbas Ali Chandio and Zhenzhong Guan
This study investigates the impact of board funds, banking credit, and economic development on food production in the context of South Asian economies (India, Pakistan…
Abstract
Purpose
This study investigates the impact of board funds, banking credit, and economic development on food production in the context of South Asian economies (India, Pakistan, Bangladesh, Sri Lanka, and Nepal).
Design/methodology/approach
This study used data from the World Development Indicators covering the years 1991–2019. To investigate the relationship between the variables of the study, we employed the panel unit root test, panel cointegration test, cross-sectional dependence test, fully modified least squares (FMOLS), and panel dynamic least squares (DOLS) estimators.
Findings
The empirical results indicate that board funding significantly increase food production; however, banking credit had a negative impact. Furthermore, the findings indicate that economic development, Arable land, fertilizer consumption, and agricultural employment play a leading role in enhancing food production. The results of the Dumitrescu-Hurlin causality test also show substantiated the significance of the causal relationship among all variables.
Practical implications
South Asian countries should prioritize board funding, bank credit, and economic development in their long-term strategies. Ensuring financial access for farmers through micro-credit and public bank initiatives can spur agricultural productivity and economic growth.
Originality/value
This study is the first to combine board funding, banking credit, and economic development to better comprehend their potential impact on food production. Instead of using traditional approaches, this study focuses on these financial and developmental aspects as critical determinants for increasing food production, using evidence from South Asia.
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Aleksei V. Bogoviz, Svetlana V. Lobova, Julia V. Ragulina, Alexander N. Alekseev and Yevgeniy A. An
The purpose of the chapter is to determine the essence of sustainable socio-economic systems through the prism of economic growth.
Abstract
Purpose
The purpose of the chapter is to determine the essence of sustainable socio-economic systems through the prism of economic growth.
Methodology
The methods of econometric and regression analysis are used for determining the level of sustainability of development of economic systems in 2018 by comparing the values of the index of ecological effectiveness, calculated by the Yale Center for Environmental Law and Policy, and the index of socio-economic development, calculated by the Legatum Institute. Also, coefficients of variation, which reflect per cent deviation of GDP per capita in current prices on average for 2006–2022 are calculated. The studied indicator is GDP per capita in current prices (calculated by the International Monetary Fund). The research objects are leading developed countries and countries of BRICS.
Conclusions
It is determined that more sustainable socio-economic systems of developed countries show higher stability of economic growth during 2006–2018, and less sustainable socio-economic systems of developing countries develop in unstable way. However, the influence of sustainability on stability of economy is vivid.
Originality/values
The existing conceptual treatment of the essence of sustainable socio-economic systems is specified by substantiating that these systems develop not only harmoniously in the aspect of balance of social, economic, and ecological development but also in a stable way in the aspect of low volatility of GDP per capita in current prices. This treatment is interesting from the scientific and practical points of view for development and implementation of state policy in the sphere of managing sustainable development of economy.
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