Search

This study analyzed the impact of technological progress and digitization on Ghana's economy using panel data for the period 2009–2019. Technological progress and economic growth inter-dependency was analyzed in two steps. First, the relation was tested using Augmented Dickey–Fuller method. Second, we estimated the long-run relation between the variables by using Engel Granger and Error Correction models. The results indicate that adopting technology or digitizing the economy has the potential to drive sustainable growth and development. In particular, it was noted that ICT investments drive high productivity rates and faster economic growth. In sum, technological progress and digitization have the potential to foster significant growth and therefore must be given high credence in the planning and designing of development programmes. This paper contributes to development theories on the role that ICT plays in economic growth and development. [ABSTRACT FROM AUTHOR]

This paper provides a systematic assessment of the alleged exceptionality of Malaysia's development progress and its likely explanations, in comparative perspective. Using cross-country regressions and aggregate indices of education, health, poverty and gender equality outcomes, we produce evidence based on conditional correlations, offering three findings. First, the results support the hypothesis that Malaysia's human development progress has been exceptional compared with that of countries with a similar level of economic development, primarily for the period 1970–1990. Next, we show that such progress is associated with a combination of income-mediated and support-led mechanisms, including Malaysia's early emphasis on education and health inputs and infrastructure development. Finally, we look at long-term roots of its progress, arguing that early advantage in state capacity may be at the origin of Malaysia's successful implementation of poverty reduction and growth-enhancing policies. [ABSTRACT FROM AUTHOR]

This paper considers the impact of state-owned enterprises on economic growth in China. We consider several possible channels through which state-owned enterprises might play a pro-growth role: first, stabilizing growth in economic downturns by carrying out massive investments; second, promoting technical progress by investing in riskier areas of technology; third, by following a high-road approach to treating workers by paying a living wage which is favorable for China to move toward a more sustainable growth model in the future. Our empirical analysis finds that a higher share of state-owned enterprises is favorable to long-run growth and tends to offset the adverse effect of economic downturns on the regional level. JEL Classification : E11, O47, P31 [ABSTRACT FROM AUTHOR]

This study investigates the short-term and long-term impacts of economic growth, trade openness and technological progress on renewable energy use in Organization for Economic Co-operation and Development (OECD) countries. Based on a panel data set of 25 OECD countries for 43 years, we used the autoregressive distributed lag (ARDL) approach and the related intermediate estimators, including pooled mean group (PMG), mean group (MG) and dynamic fixed effect (DFE) to achieve the objective. The estimated ARDL model has also been checked for robustness using the two substitute single equation estimators, these being the dynamic ordinary least squares (DOLS) and fully modified ordinary least squares (FMOLS). Empirical results reveal that economic growth, trade openness and technological progress significantly influence renewable energy use over the long-term in OECD countries. While the long-term nature of dynamics of the variables is found to be similar across 25 OECD countries, their short-term dynamics are found to be mixed in nature. This is attributed to varying levels of trade openness and technological progress in OECD countries. Since this is a pioneer study that investigates the issue, the findings are completely new and they make a significant contribution to renewable energy literature as well as relevant policy development. • Economic growth, trade openness and technological growth drive renewable energy use. • Long-term dynamics of the variables are found homogenous across the OECD countries. • Short-term dynamics vary as to variation in technological growth and trade openness. • An understanding of variable dynamics is vital for increasing renewable energy use. [ABSTRACT FROM AUTHOR]

Western economies nowadays are confronted with a predicted productivity slowdown resulting in diminishing rates of economic growth. While some scholars see these developments as an indication of the approaching end of growth due to fully exploited technological opportunities, this article contends that the possibilities for radical, paradigm changing innovations are far from being exploited. Building on contributions from Schumpeter and Georgescu-Roegen, we argue that the human capacity to expand technological and intellectual frontiers must not be underestimated. In a selective retrospect, our narrative identifies and describes four historical incidents reflecting different perceptions of the power of the human mind. It synthesizes the mentioned economists' viewpoints with the effects of these incidents to reproduce the intellectual roots of the recently developed concept of Dedicated Innovation Systems (DIS).We conclude that traditional macro-level indicators are not suitable to capture transformation processes, which is why we propose to interpret growth indicators and the alleged productivity slowdown quite differently. We argue that human ingenuity and transformation processes dedicated to sustainability will open up new opportunity spaces, thereby combining an increase in economic welfare and social justice with a reduction of negative environmental impact. [ABSTRACT FROM AUTHOR]

This paper examines the effect of economic growth and the association of environmental degradation on economies' technological change and technological catch-up. Using a conditional nonparametric frontier analysis to a sample of 73 economies over the time period 1980–2014, empirical evidence of the examined relationship is provided both under full and partial frontiers in the constant and variable returns to scale (VRS) models. Specifically, the newly proposed time-dependent conditional nonparametric frontier estimators have been applied. In our case the time-dependent conditional efficiency estimators allow us to model directly the effects of growth and time on economies' estimated performance without requiring any specification of the production functional form and without assuming the separability condition between time, economic growth and the support of inputs and outputs. The overall results reveal that the efficiency results of full and partial frontiers tend to lead to the same results, except in the cases of full VRS models where energy use and carbon dioxide emissions are incorporated as an additional input and output, respectively. The results demonstrate that countries with a higher environmental efficiency are those that have signed the first agreement between nations (Kyoto Protocol) to mandate country-by-country reductions in greenhouse-gas emissions, while countries that have not signed are relatively inefficient. Ultimately, the empirical findings also suggest that the effect of economic growth is determined by economies' development stage and geographical region. [ABSTRACT FROM AUTHOR]

The paper examines the complex interrelationship between economic growth and the urban–rural income inequality in China by estimating a simultaneous equation system. This study uses a panel data-set that covers 29 provinces from 1988 to 2007, and compares the earlier period with the later period. It finds a robust and positive impact of the rural surplus labor on urban–rural inequality, which is consistent with Lewis’ dual economy theory. Economic growth is found to aggravate the urban–rural inequality in the earlier period, but there is no hard evidence in the later period. This implies that China has not yet, or at least by 2007, entered the second stage of the Kuznets curve. We also find no robust evidence on the impact of the inequality on growth in either period, but find robust evidence on the impact of both foreign direct investment and exports on the increasing inequality during the earlier period, whereas no significant impact in the later period is found. Finally, the spread of education reduced the inequality in the earlier period, but no such impact is robust in the later period. [ABSTRACT FROM AUTHOR]

According to the literature on export-led growth models differences in income elasticities of demand for imports and exports among countries bring about different degrees of external constraint on growth. However, there is not in this literature an explanation that uses the Evolutionary concept of National Innovation System (NIS) that shows why there are differences in income elasticities among countries. Moreover, there is not a consensus about the exogenicity of the elasticities. Some authors highlight the high level of income elasticity of demand for exports in sectors with high level of technological intensity. However these authors seem to not explain the motive for this. The aim of this paper is to theoretically show the causal relation between an economy's NIS, its income elasticities and its Current Account performance. It also aims to show the role of NIS in the exogeinicity/endogeinicity of the income elasticities. Empirical evidence and a Granger Causality Test are presented and do not reject the core argument of the paper. [ABSTRACT FROM AUTHOR]

Energy and green innovation are important to a country's economic progress, but the externalities of increased pollution as a result of a rise in energy used and economic growth must not be overlooked. Within the Stochastic Impacts by Regression on Population, Affluence, and Technology (STIRPAT) framework, this study aims to check empirically the effect of environment-related technologies (ERT), coal consumption (CC), economic growth (EG), and population density (PD) on the consumption-based CO 2 emissions (CCO 2e) in the BRICS (i.e., Brazil, Russia, India, China, & South Africa), as with fast economic progress BRICS is facing problems of CO 2 emission. The econometric techniques of the cross-sectional dependence test, slope heterogeneity test, and second-generation panel unit root test were used to check the nature of the data. The available balance data over the period 1985–2018 were analyzed via Driscoll and Kraay and a dynamic common correlated effect mean group (DCCEMG). Long-term empirical findings show that ERT has a negative impact on the CCO 2e , while per capita GDP and CC have a positive impact on CCO 2e. Empirical evidence recommends that ERT is important for BRICS countries' long-term sustainability. It is suggested that policymakers should encourage ERT that help in curbing their CO 2 emanations. [ABSTRACT FROM AUTHOR]

In achieving the "double carbon" target, the emission trading system (ETS), as a key market-based emission reduction mechanism, assumes the responsibility of addressing climate change and implementing reform. Most studies focus only on the emission reduction effects of green policy, but weighing the relationship between emission reduction and development is a practical dilemma to be faced. Taking China's pilot ETS as an example, this problem was analyzed using the synthetic control method, and the specific impact channels are discussed. It was found that: (1) Carbon emissions and carbon emission intensity in the pilot ETS areas of Tianjin, Hubei and Chongqing decreased significantly, and economic growth has progressed to a certain extent. Robustness tests basically verified the effectiveness of the policy implementation. (2) The pilot ETS mainly has an impact through the transformation and upgrading, and technological innovation channels, promoting significant improvements in energy structure, industrial structure, energy efficiency and the number of patent applications. This study releases a positive signal for the compatibility of emission reduction and economic development goals at the national level for China's pilot ETS. • The pilot ETS significantly reduced carbon emissions and carbon emission intensity. • The pilot ETS promoted economic growth to some extent. • Transformation and upgrading, and technological innovation are the influencing channel. • The SCM method can synthesize the "ideal" control unit to evaluate the policy effects. [ABSTRACT FROM AUTHOR]

The integration of the circular economy (CE), a model promoting the cyclical use of resources, and Industry 4.0, an intelligent-based approach to manufacturing, is expected to achieve sustainability. Finding the most suitable path for technological progress and structural change to promote economic growth is the key to adopting Industry 4.0 technologies and successfully transforming to a CE, and thus, key to China achieving sustainable development quickly. This study identifies the joint effects of energy- and environment-biased technological progress and multi-dimensional industrial structural change on economic growth, and empirically verifies the specific effects within China. Our results are as follows. First, pollution abatement technological progress, backstop technological progress and autogenous structural ecologicalization are the main drivers of sustainable economic growth. Second, innovation policies have a positive impact on national economic growth by promoting pollution abatement technological progress. Finally, in sub-regions' regression, backstop and environment technology, and structural ecologicalization promote eastern China's economy, while policies drive environment technological progress and structural ecologicalization to stimulate economic growth in central and western China. Our results imply that policymakers should take into consideration the readiness levels of each region regarding the adoption of Industry 4.0 and circular economy, and that the government should consider and ensure the participation of all stakeholders, including firms. • Focus on the economy's driving forces under Industry 4.0 and circular economy. • Environment and new-energy technological progress promote economic growth in China. • Innovation policy drives economic growth by inducing biased technological progress. • Backstop and environment technological progress benefit eastern and central China. • Industrial policy works well on structural ecologicalization and regional economy. [ABSTRACT FROM AUTHOR]

• Verify the inverted-U between environmental regulation and economic growth. • Economic development of the Yangtze River Delta shows a good interactive pattern. • Environmental regulation and economic development display good interaction pattern. • The impact mechanisms are the innovation and the resource consumption effects. • The economic integration of the Yangtze River Delta is in an orderly manner. The Yangtze River Delta region is a representative region for the development of China's urban agglomerations. This study explores the inverted U-shaped relationship between environmental regulation and economic growth in the Yangtze River Delta region during 2002–2010 using the spatial panel data model. After the introduction of instrumental variables, the U-shaped curve is still robust, which is the theoretical value of this paper. The research verifies that technological innovation and resource consumption are important mechanisms for environmental regulation to influence economic growth. Cities in the Yangtze River Delta region have good interaction patterns in environmental regulation, economic development, technological innovation and resource consumption. Economic integration development is at a good level and can provide valuable experience for the development of other urban agglomerations. [ABSTRACT FROM AUTHOR]

This paper contributes to the growing literature regarding the role of Information and Communication Technologies as well as Innovation on driving the level of carbon dioxide emissions and economic growth in context of the 21st conference of the Parties to the Climate convention (COP21). Drawing the data from 13 selected G-20 countries (including Argentina, Canada, China, France, Germany, Italy, Japan, Mexico, Republic of Korea, Russian Federation, Turkey, United Kingdom, United States) during the period of 15 years, our study achieves significant results. First, only five factors impede the carbon emissions namely energy price, foreign direct investment, technology, spending on innovation and trade openness while the remainder of determinants contribute to contamination of environment, including financial development. Second, when it comes to economic growth, information and communication technological and financial development are positive driving factors. Our results do reject the absence of Environmental Kuznets Curve (EKC) from our sample. Finally, our study empirically suggests that the work of controlling consumption of oil and environmentally friendly process including manufacture-trading in these economies will limit the amount of pollution. • GDP per capita, energy consumption and financial development lead to an increase in CO2 emissions. • The effects of FDI, trade openness, and oil prices on CO2 emissions are negative following the pollution-halo hypothesis. • There is a negative relationship between ICT, innovation and CO 2 emissions in these selected G20 countries. • To some extent, measures of ICTs and financial development tend to boost the economic growth in these countries. [ABSTRACT FROM AUTHOR]

The Roman Empire experienced both extensive and intensive economic growth. This article first surveys the role of technology in that process, engaging with recent literature on intensive growth under Malthusian constraints. It goes on to investigate the difference in technological progress between the Roman Empire and medieval Europe. It argues that political fragmentation explains why medieval Europe was more innovative than the Roman world, invoking a comparison with imperial China to complement the analysis. The technological success of China under the Tang and Song shows that political fragmentation is not a precondition for progress. However, Roman emperors never invested in the practical application of useful knowledge, the way Chinese rulers did. [ABSTRACT FROM AUTHOR]