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The green transformation of industry and sustainable economic development both require considerable investment. In this regard, green finance that is compatible with economic development can help cope with the massive demand for capital. Taken China's Yangtze River Delta (YRD) as an example, this study is to measure the coordination degree between green finance and economic development. First, the concept, content and scope of green finance is defined based on the new financial regulation mechanism. Second, a green finance measurement index is built to calculate the green finance index for 30 Chinese provinces by the CFA test. Third, based on the economic structure index, an economic development index is built. Testing the rationality of green financial index and the economic development index, this paper finally measures the degree of coordination between green finance and economic development in the YRD. The results reveal that, first, green finance is a financial instrument that integrates financial industry development, environmental improvement, and economic growth. The measurement of the green financial development index includes the sum of regional green credit, green investment, green securities, and green insurance. Second, after years' development, the comprehensive score of YRD's coupling coordination degree exceeds 0.8 in 2020, which shows a high level of coordinated development between green finance and economic construction. However, there is a 2-year timing effect between the economic development and green finance index increase, which reveals that green finance development in the YRD requires further policy guidance and support. This study's findings can provide a theoretical reference and case support for the further development of green finance and related policies in China. [ABSTRACT FROM AUTHOR]

The issue of environmental degradation has become pertinent and the call for carbon neutrality has intensified in recent years. Achieving this target will require countries to meet the conditions of the sustainable development goals. To do this, the study applied spatiotemporal modelling and the generalized method of moments (GMM) to examine the nexus between economic growth (EG) and the load capacity factor (LCF) through environmental goods (ENG) and environmental tax (ENT) among European Union (EU) nations from 1995 to 2018. The findings demonstrate that spatial dependence leads to a change in EG and LCF that impacts the EG and LCF of the neighbouring countries. The study also found that there is a significant positive and bidirectional relationship between economic growth and load capacity factor. Moreover, the study revealed that a positive effect of ENG, ENT, REN and Human Capital Index (HCI) on EG, with a reducing effect from natural resource rents (NRR). Finally, HCI improves environmental quality, while ENG, ENT, REN and NRR degrade the environment. Our findings justify the need for EU countries and other developed nations to implement policies that will help achieve a green economic transformation. [ABSTRACT FROM AUTHOR]

University–Industry Collaborations (UIC) are increasingly recognized as crucial drivers of economic growth and development. While numerous studies have been conducted on this topic, this paper specifically focuses on UIC in the Arab World. The aim of this study is to explore the establishment of successful UIC by conducting a review of existing literature to identify and synthesize key factors that enable collaborative innovation between industry and universities. The findings are summarized into six main themes: the importance of UIC, barriers to UIC, gaps between universities and industry in the Arab World, partnerships and sustainable growth, current trends and perspectives, and future agenda for Arab countries. These themes are elaborated on and used to summarize results from the reviewed studies regarding facilitators of collaborative innovation. The contribution of this work lies in enhancing the existing body of literature and knowledge regarding collaboration between higher education and industry in the Arab World. This research presents specific measures that can be implemented to ensure successful UIC in the future. Its outcomes are significant for policymakers, academics, and industry experts in the Arab region, who aspire to form productive UIC partnerships that encourage economic development and innovation. [ABSTRACT FROM AUTHOR]

Scholars have given enormous attention to the roles of energy use and trade in economic growth strategies; however, recent international trade literature suggests that not merely the volume of trade but the diversification of goods may have a potential effect on economic growth. Thus, this paper uses the diversification of export goods and diversification of import goods as explanatory variables along with energy consumption and assessed the role of these important variables in economic development. The empirical results from Westerlund's (J Appl Econom 23:193–233, 2008) and Westerlund's (Oxf Bull Econ Stat 69:709–748, 2007) tests disclosed the existence of cointegration. The long-run estimations obtained from the CUP-FM technique revealed that both import and export product diversifications positively influence economic growth. This presents a vital opportunity for emerging nations to expand growth by diversifying export and import products. Likewise, energy use, labor, and capital contribute to increasing economic growth. The estimates from the causality test illustrated bidirectional causality between export diversification and economic growth and unidirectional causality from energy to export diversification. Finally, policy suggestions to expand economic progress are discussed. [ABSTRACT FROM AUTHOR]

Using the series of the top 1% income shares in 137 countries, I examine the relationship between top-end inequality and subsequent economic growth from the 1920s to the 2010s. These data enable a versatile exploration of various time horizons. To address concerns regarding chosen functional forms, I employ penalized spline methods to accommodate potential nonlinearities. Empirical findings suggest that the relationship between top-end inequality and subsequent growth is complex, contingent upon both the investigated time horizon and the level of economic development. I find some evidence for a positive link at medium levels of economic development, with this positive link being more pronounced in short- to medium-term associations. I also find that the positive medium-run association weakens as economic development advances. In advanced economies, a negative (or nonpositive) medium- to long-term relationship emerges between the top 1% income share and growth in many settings. Furthermore, I conclude that longer-run associations need to be investigated further. [ABSTRACT FROM AUTHOR]

Asia has constantly been in the spotlight regarding economic development as it has been the fastest-growing global region over recent decades. This study investigated the effect of financial development on economic growth in selected Asian countries at various stages of economic development. A recently introduced approach, the Dynamic Common Correlated Effects (DCCE) method, was applied to 12 Asian countries/areas covering 26 years (1995–2020). The 12 countries/areas were divided into three groups based on their current economic development status: underdeveloped, moderately, and highly developed. The study results indicated that the effect of financial development on economic growth varied for countries at different economic levels. The association between financial development and economic growth was strongly negative for underdeveloped countries. However, a positive relationship existed between the sampled moderately and highly developed countries/areas. This situation implied that financial development should not be considered a viable way to boost economic growth for countries with underdeveloped economies. Instead, countries with a higher economic status should priorities financial development to promote economic prosperity effectively. [ABSTRACT FROM AUTHOR]

The current analysis explores the effect of external debt on economic growth and how better governance interacts with this relationship. For empirical assessment, we sample 20 years of data (2000–2019) of South Asian economies and consider the FMOLS and DOLS models to model the regression among the variables. The statistical analysis reveals a significant negative effect of both long- and short-term external debts, while governance has a significant positive effect on economic growth. In addition, the positive moderating role of governance was also observed in the nexus of external debt and economic growth. Enhancing governance can make external borrowing beneficial for economic progress. The empirical analysis posits multiple policies regarding the reduction of external borrowings, enhancement of the quality of governance, and effective utilization of external debt for development projects through better governance systems. By exploring the empirical relationship between external debt, governance, and economic growth, this study provides original evidence on how to enhance the utilization of external debt to ensure economic growth. [ABSTRACT FROM AUTHOR]

Much research demonstrates the positive effects of financial inclusion and digital finance on expansion. Supply chains that can be relied upon are essential to national productivity and economic development. This study uses panel data from 2007 to 2022 covering 27 provinces in China to study the results of widespread access to digital financial services and supply chain management on regional economic growth using the instrumental variable approach (fixed effect model). In contrast to earlier research, this study employs an alternative measure of access to digital financial services utilization and digitalization. The data demonstrates that digital financial inclusion and supply chain management have a major impact on the development of the provincial economies in China. Based on the results of this research, we suggest increasing digital financial inclusion and bolstering human capital development to stimulate economic expansion. This essay makes a theoretical advancement in studying digital technology's widespread adoption of financial services by providing a comprehensive critical review and a fresh angle on the nuts and bolts of digital money and universal banking. Boosting institutional quality and governance are two more paths that authorities can take to stimulate economic expansion in the China area, and the results show how important these measures are for achieving this goal. [ABSTRACT FROM AUTHOR]

China has changed its focus from traditional high-speed economic growth to high-quality economic development (HQED) and the implementation of environmentally friendly practices. This transition can have parallel or unparallel impacts on energy insecurity (EIS). In this regards, HQED, inter Alia, is crucial in mitigating EIS and combating the energy crisis. Our study explores the impact of economic growth (EG) and HQED on EIS using the provincial panel data of China for the period 2011–2017. From the perspective of comparative analysis, the results reveal that HQED reduces EIS while EG increases it. The robustness checks indicate that industrial structure (IS) has a negative impact on EIS, whereas industrial structure upgrading (ISU) and green innovation (GI) have a positive influence. This implies that IS contributes to an increase in EIS, whereas ISU and GI result in a decrease in EIS. In addition, the analysis reveals that digital financial inclusion (DFI) exhibits a significant positive relation with EIS, albeit occasionally a negative but insignificant link. The policy implication is that the government should stimulate policies to promote HQED which reduces the EIS. [ABSTRACT FROM AUTHOR]

In recent years, there has been a persistent intensification of the global greenhouse effect. Balancing carbon emission reduction with economic growth poses an unprecedented global challenge. To better comprehend the relationship between economic growth and carbon emissions, this study first utilized the Tapio decoupling index to compare the decoupling relationship (the USA, Japan, and Germany) and three developing countries (China, India, and Russia) from 2000–2020. Additionally, the logarithmic mean Divisia index (LMDI) method was employed to investigate the factors influencing changes in carbon emissions. Our findings indicate that (1) the USA and Germany basically achieved strong decoupling; China, India, and Russia mainly showed weak decoupling; and Japan showed recessive decoupling. (2) Economic growth predominantly contributed to increased carbon emissions, with a lesser impact from population growth. A significant reduction in energy intensity restrained carbon emissions growth, as did energy structure replacement in most countries, excluding Japan. Based on this, a decoupling effort index was formulated. It has shown that the decoupling efforts made by developing countries are weaker than those of developed countries, primarily attributed to a lesser degree of decoupling between energy intensity and structure. This paper offers valuable insights for developing countries undergoing a low-carbon economic transformation. They should counterbalance carbon emission escalation resulting from economic growth through technological and energy structure improvements. [ABSTRACT FROM AUTHOR]

Economic agglomeration has played a key function in China's economic transformation. Meanwhile, structural adjustment and external pressure to reduce carbon emission necessitate a deeper investigation into its relationship with carbon productivity. This paper measures economic agglomeration and carbon productivity of 281 cities in China in 2003–2017. With the purpose of exploring the spatial effect of economic agglomeration on carbon productivity, a spatial Durbin model is constructed. In addition, the mediation effect model is also adopted for examining the transmission mechanism of economic scale and technological progress on economic agglomeration as well as carbon productivity. A heterogeneity test is also carried out to uncover the varying effects of economic agglomeration on carbon productivity. The empirical results suggest that economic agglomeration raises carbon productivity not only in the local cities but also in the neighbouring ones. The impact of economic agglomeration on carbon productivity becomes more potent as the level of economic agglomeration increases. For cities with low level of economic agglomeration, the effect is mainly achieved through the expansion of economic scale, but for cities with high level of economic agglomeration, the effect is mainly achieved through technological progress. Therefore, we suggest encouraging carbon productivity improvement through technology effect in cities with high economic agglomeration level, while enhancing carbon productivity through scale effect in cities with low economic agglomeration level. [ABSTRACT FROM AUTHOR]

Having previously analyzed the relationship between tourism and economic growth from distinct perspectives, this paper attempts to fill the void existing in scientific research on the relationship between tourism and economic development, by analyzing the relationship between these variables using a sample of 123 countries between 1995 and 2019. The Dumistrescu and Hurlin adaptation of the Granger causality test was used. This study takes a critical look at causal analysis with heterogeneous panels, given the substantial differences found between the results of the causal analysis with the complete panel as compared to the analysis of homogeneous country groups, in terms of their dynamics of tourism specialization and economic development. On the one hand, a one-way causal relationship exists from tourism to development in countries having low levels of tourism specialization and development. On the other hand, a one-way causal relationship exists by which development contributes to tourism in countries with high levels of development and tourism specialization. [ABSTRACT FROM AUTHOR]

In recent years, environmental concerns have emerged as significant obstacles to economic advancement, leading to a critical examination of the complex relationship between environmental sustainability and economic expansion. With the economy expanding swiftly and environmental hazards intensifying, immediate action must be taken to address these problems. This necessitates innovative policies and practices that foster sustainable economic growth while minimizing environmental impact. To solve these issues, this study proposed an extensive analytical framework employing machine learning techniques, particularly artificial neural networks (ANNs), to investigate the Environmental Kuznets Curve (EKC) hypothesis. According to the EKC hypothesis, environmental degradation worsens before economic growth occurs. This study examines GDP per capita and key environmental indicators to measure economic development, using data from Anhui Province, China, from 2012 to 2019. The analysis provides empirical support for the theory and establishes a modeling framework that seamlessly integrates ML methodologies with EKC analysis, systematically examining and assessing the EKC's reliability for Anhui Province. The intricate interplay between Anhui Province's environment and economy, utilizing industrial waste gas, wastewater, and solid waste as critical indicators, evaluates environmental quality. At the same time, per capita GDP is the economic growth parameter. The findings indicate that the EKC does not adhere to an unchanging law but instead displays variations in distribution characteristics. The experimental results of the proposed ANN model demonstrate an impressive accuracy rate of 87%, outperforming five alternative models, including RF, KNN, DT, and LR. This superior model performance underscores the effectiveness of the ANN-based approach in capturing the intricate dynamics linking economic development and environmental pollution. [ABSTRACT FROM AUTHOR]

Resource-based cities are important strategic bases for securing resources in China and have made great contributions to the country's economic development. Long-term extensive resource development has made resource-based cities an important region constraining China from achieving comprehensive low-carbon development. Therefore, it is of great significance to explore the low-carbon transition path of resource-based cities for their energy greening, industrial transformation, and high-quality economic development. This study compiled the CO2 emission inventory of resource-based cities in China from 2005 to 2017, explored the contribution to CO2 emissions from three perspectives (driver, industry, and city), and predicted the peak of CO2 emissions in resource-based cities. The results show that resource-based cities contribute 18.4% of the country's GDP and emit 44.4% of the country's CO2 and that economic growth and CO2 emissions have not yet been decoupled. The per capita CO2 emissions and emission intensity of resource-based cities are 1.8 times and 2.4 times higher than the national average, respectively. Economic growth and energy intensity are the biggest drivers and main inhibitors of CO2 emissions growth. Industrial restructuring has become the biggest inhibitor of CO2 emissions growth. Based on the different resource endowments, industrial structures, and socio-economic development levels of resource-based cities, we propose differentiated low-carbon transition pathways. This study can provide references for cities to develop differentiated low-carbon development paths under the "double carbon" target. [ABSTRACT FROM AUTHOR]

Liquefied petroleum gas (LPG) is one of the energy resources that deserve to be qualified as a transition fuel for developing countries that cannot abandon their dependence on non-renewable energy use and adopt renewable alternatives. The current study examines how environmental degradation is affected by financial development, LPG use, and economic growth in the BRICS-T countries (Brazil, Russia, India, China, South Africa, and Turkiye) in the period of 1993–2018. For this purpose, four models were tested with Pedroni, Kao, PMG Panel ARDL cointegration and Dumitrescu-Hurlin causality methods. The results show that LPG consumption has a positive effect on the ecological footprint and an adverse influence on the CO2 emission of BRICS - T countries. The financial institutions exhibited to have a positive and significant impact on ecology. Economic growth displayed negative effects on environmental degradation and a positive influence on CO2. Additionally, there is significant evidence for the validity of the EKC hypothesis. Unidirectional causality exists between ecological footprint, LPG, financial market, and economic growth. The financial institution index shows bidirectional causality with the ecological footprint. There is also unidirectional causality between ecological footprint, LPG, financial market, and economic growth. Furthermore, the financial institutions' index shows a bidirectional causality with the ecological footprint. Also, economic development and financial institution index have a bidirectional relationship with CO2 emissions. On the other hand, the financial market index showed unidirectional causality with CO2 emissions. In short, our study highlights the need for a comprehensive and integrated approach to sustainable development in BRICS - T countries. Policymakers must balance economic growth with environmental protection and consider the potential trade-offs between policy options to promote sustainable and inclusive development. [ABSTRACT FROM AUTHOR]

Clean energy development has played a pivotal role in economic transformation. Based on the panel data of 30 provinces in China from 2006 to 2021, the spatial Dubin model was used to empirically investigate the impact of clean energy development on green economic growth. Furthermore, this research selected industrial structure optimization as the mediating variable to analyze the mediating effect between clean energy development and green economic growth. The results are as follows. Firstly, there is a positive spatial correlation for green economic development, in which the level of green economic development in a region can be influenced by neighboring regions. Secondly, there is a significant positive relationship between clean energy development and green economic growth, in which the clean energy development has a positive impact on green economic growth. Thirdly, the mediating effect analysis demonstrates that the clean energy development can influence green economic growth through industrial structure optimization. Based on the findings in this paper, several suggestions are proposed. China should formulate a unified national strategy for green economy by coordinating and balancing regional differences, develop the clean energy industry to promote green economic growth, and pay attention to the intermediary effect of industrial structure to promote green economic growth. [ABSTRACT FROM AUTHOR]

The high-tech industry, as a two-stage system consisting of technology development and economic transformation, plays an important role in the transformation and upgrading of China's economic development. Productivity analysis is the primary method for assessing the performance of economic growth. Hence, it is important to accurately measure productivity changes, which can provide valuable guidance for its further development. Accordingly, based on the provincial-level sample data of the high-tech industry, this paper measures the productivity changes of the whole system and each stage by adopting Malmquist and Hicks–Moorsteen indices both under the convex and nonconvex measures. Further, a comparative analysis of productivity changes from the national and regional high-tech industry perspective has been performed. Empirical results suggest that productivity changes differ significantly among the national, Eastern, and Northeast regions only for the variable returns to scale assumption under the nonconvex measure, specifically for the whole system. Moreover, more contradictory results between Malmquist and Hicks–Moorsteen indices occur under variable returns to scale and nonconvex technology. Furthermore, productivity growth for the whole system is primarily attributed to that of the technology development stage, except for the Central region. In addition, the differences in productivity changes across regions are reduced. Finally, some constructive suggestions have been made so that policymakers can provide theoretical references when making decisions for the high-quality development of the high-tech industry. [ABSTRACT FROM AUTHOR]

In recent years, researchers from MIT and Harvard University have developed a complexity approach to economic development. This perspective implicitly follows some characteristic elements of the complexity scientific paradigm emerged in the second half of the twentieth century but focuses on a practical application to economic development. As in the more general theory of complexity economics, this Harvard-MIT approach has many points in common with Austrian economics. This paper highlights these similarities, concerning capital theory, entrepreneurship, a knowledge-based view of the economy, organizational capabilities, and economic growth. As a result of these similarities, we also present the policy implications derived from the shared elements of the two currents, which materializes in the idea that the Harvard-MIT approach can adopt the Market Policy Pogramme (MPP), conceived by David Harper as a practical application of the fundamental theoretical principles of Austrian economics. [ABSTRACT FROM AUTHOR]

Solid waste generation is a significant problem affecting the ecosystem, human health, and safety. However, the issue is not given the attention it truly deserves. Consequently, this study is aimed at assessing the impact of various factors, such as economic growth, public awareness, infrastructure, and technological advancements, on generating municipal waste in the European Union (EU) for the period 1995–2020. Furthermore, the study incorporated the mediating effect of economic growth and government effectiveness with public awareness, infrastructure, and technological development to reduce waste generation. By employing the bias-corrected method of moments, the study finds that overall waste generation does not decrease over time in EU economies. Furthermore, Denmark is the top-ranked country among the sampled countries to generate waste. However, Finland is at the top in government effectiveness. The empirical findings showed that economic growth is the significant reason for the increase in solid waste production. Additionally, the interaction effects of economic growth with public awareness, infrastructure, and technological development are positive. However, the individual impact of public awareness, infrastructure, and technological development is positive in reducing waste generation. Governance effectiveness is a significant tool to lower waste generation in European economies. [ABSTRACT FROM AUTHOR]

The study of top economic growth with the goal of Sustainable Development Goals (SDGs) has become an important issue in the world, and scholars have analyzed high-quality economic development(HED) influencing factors from many perspectives, but there are few studies on green finance(GF) and high-quality economic development(HED). we examine the logical link between green financing and high-quality economic development, as well as the transmission mechanism behind this relationship. Using data from 30 Chinese regions from 2011 to 2021, our empirical study shows that green financing may improve high-quality economic development. Several robustness tests show that this association exists. Furthermore, our findings indicate that more robust government governance and market synergy may promote green finance for high-quality economic development. Green finance can enhance high-quality economic development by minimizing resource mismatch and encouraging green technology advancement. Simultaneously, green finance for high-quality economic development is significantly heterogeneous. Green credit and green insurance are important forms of support for promoting high-quality economic development, with significantly higher impacts in the eastern regions than in the central and western regions. Our research offers policymakers insights on encouraging green finance growth in China. [ABSTRACT FROM AUTHOR]

In this paper I argue that the political and economic domains are analogous for distributive purposes. The upshot of this conclusion is that because we normally think that an unequal distribution of votes is objectionable even if these inequalities are strictly necessary to improve the lives of less informed voters, so we should conclude that an unequal distribution of resources might be similarly objectionable even if strictly necessary to make the worse off better off. Leveling down economic resources is therefore sometimes morally permissible. I consider and reject three types of objections to this view. [ABSTRACT FROM AUTHOR]

Energy poverty is a critical global issue that affects millions of people worldwide. The lack of access to reliable and affordable energy services has significant economic and social impacts, including limited opportunities for education, personal development, and economic growth. This paper examines the relationship between energy poverty and economic development in selected countries using the panel quantile methodology. The findings emphasize the importance of addressing energy poverty in order to foster economic growth in the selected country group. In addition, CO2 emissions have a positive effect on economic growth, but policies to reduce fossil fuel consumption can both boost economic growth and mitigate negative environmental impacts. Inflation has a negative effect on economic growth, so policymakers should prioritize measures to control it. Employment has a positive effect on economic growth, so job creation policies should be promoted. The study found that improving access to clean energy can increase economic growth and improve the well-being of citizens in Eastern European countries. Therefore, efforts to reduce energy poverty should be a priority to promote economic development and improve the quality of life. [ABSTRACT FROM AUTHOR]

Since its independence, Tunisia has embarked on monetary and financial sector reforms aimed at boosting economic growth. However, these reforms have not been effective due to inflation pressures in this country. Thus, this paper examines the nature of the relationship between financial development and economic growth between 1965 and 2019, using the non-linear logistic smooth transition regression model and considering inflation as a threshold financial development. The results show the existence of a non-linear abrupt relationship with an inflation threshold equal to 3.63%. Specifically, when inflation is below 3.63%, all variables, including inflation, have a significant and positive impact on economic growth. However, when inflation exceeds the estimated threshold, inflation has a significant and negative impact with an elasticity equal to − 0.365. To effectively manage inflation, the Tunisian authorities are encouraged to set and embrace specific inflation targets as a goal. This approach aims to mitigate inflationary pressures and foster a favourable environment for financial development in Tunisia, thereby promoting economic growth. Hence, it becomes imperative to implement such measures that alleviate inflationary pressures and drive economic growth through the facilitation of development finance by the banking sector. [ABSTRACT FROM AUTHOR]

This study identifies the key industries with latent comparative advantages which have the potential to stimulate economic growth and structural change in Turkey (Türkiye). The New Structural Economics asserts that factor endowment differences dictate systematic structural differences in the economy. This factor endowment evolves over time and determines the latent comparative advantages of the economy. For successful industrial upgrading, economic growth and catching up, the industrial structure should be chosen to fit the given factor endowment best. To identify industries with latent comparative advantages, this study exploited the growth identification and facilitation framework proposed by New Structural Economics for the Turkish economy. Along with the pure growth identification and facilitation framework methodology, this study also benefits from product space tools, namely PRODY, measuring the income/productivity level of goods; EXPY, measuring the income/productivity level of a country's export basket, and economic complexity and complexity outlook indices. The Baltic countries (Estonia, Latvia, Lithuania), and Poland and Slovakia, were identified and selected as benchmark countries for comparison. Based on the export structure comparison of benchmark countries, the results indicate that Turkey has latent comparative advantages in agricultural and some labor-intensive industries. The most binding constraints of the identified products and industries with latent comparative advantages were detected via growth diagnostic analysis. In light of the results, measures that ease latent comparative advantages have been proposed for certain industries to reduce production cost, enhance competitiveness in national and global markets, and foster the Turkish economy's economic transformation. [ABSTRACT FROM AUTHOR]

This research explores the endogenous influence of carbon trading on economic development, the ecological environment, and the coordinated development of both using panel data from 30 Chinese provinces and cities except Tibet from 2007 to 2017. First, we provide environmental production elements to build an economic model based on the endogenous growth model, and then we employ three-dimensional graphics to conduct theoretical derivation in a more accessible and tangible manner. Secondly, we build a comprehensive index of China's coordinated economic and environmental growth in the context of carbon trading and use the coupled coordination model to determine the coordinated coupling degree of each location. Thirdly, the S-DID model is built to investigate the local and geographical implications of carbon trading. The findings demonstrate that the policy has a local impact that is notably favorable on the economic and environmental levels of each Chinese province and the coordinated growth between them. The degree of environmental optimization and the degree of coordinated development between the economy and the environment are two additional areas where the carbon trading mechanism has a strong positive geographical spillover impact. This study adds to the body of knowledge on China's carbon trading system and advances the endogenous growth hypothesis. [ABSTRACT FROM AUTHOR]

China's rapid economic development has attracted worldwide attention, but the resulting environmental problems also cannot be ignored. Whether environmental regulations can achieve a win–win situation between "green" and "economic growth" has become the focus of academic circles. While related studies have examined environmental regulation through the "Cost-following theory" and "Porter hypothesis", they have mostly focused on a particular region or province, thus neglecting the spatial effects. The spatial effects of environmental regulation are important to study because of the overall environmental correlation across regions and especially adjacent provinces. This paper extends the "cost-following theory" and the "Porter hypothesis" to the spatial perspective and proposes two hypotheses, respectively. Through the spatial expansion of environmental regulation theory, this paper not only analyses the direct effect of local environmental regulation on local economic growth, but also the spatial spillover effect of adjacent provinces' environmental regulation on local economic growth. The empirical results show that the relationship between environmental regulation and economic growth in China is consistent with the spatial perspective of "Cost-following theory", but not with the spatial perspective of "Porter hypothesis". Through the above analysis, this paper is able to address the issues of how to make environmental regulation policies in adjacent provinces or regions as a whole, and how to coordinate environmental regulation with economic growth in adjacent regions. The findings of this paper also suggest that spatial effects need to be sufficiently considered in future studies on environment-related issues. [ABSTRACT FROM AUTHOR]

This study investigates the effect of financial development and economic growth on ecological footprint by including non-renewable energy consumption and trade openness as additional determinants. For this purpose, annual data of 10 countries with the highest ecological footprint (China, the USA, India, Japan, Brazil, Indonesia, Mexico, Korea, Turkey, and the UK) for the period 1992–2017 is used. The Westerlund and Edgerton (2007) Panel LM bootstrap test results reveal that there is cointegration between the variables. Additionally, the results obtained from the Common Correlated Effects (CCE) coefficient estimator show that financial development, economic growth, and non-renewable energy consumption negatively affect environmental quality by increasing ecological footprint. On other hand, the effect of trade openness on ecological footprint is found to be statistically insignificant. In addition, according to the panel causality test results, a unidirectional causality from financial development to ecological footprint is found while bidirectional causality between economic growth and ecological footprint exists. Therefore, it would be beneficial for policymakers in such countries to direct financial resources to green energy production and consumption and to encourage projects and practices. [ABSTRACT FROM AUTHOR]

These days, the most serious threats to the global economy, society, and humans are climate change and global warming, mainly rooted in the sharp increase of economic activities and their concomitant greenhouse gas emissions. This paper aims to investigate how economic complexity and various sectors of the economy affect environmental and economic development. This study employs a modified IPAT and STIRPAT model to investigate the relationship of environmental pollution and economic development with economic complexity, economic structure, and technology in 21 MENA and 34 OECD countries between 1971–2017. Our findings show that economic complexity and industrialization positively affect economic growth in both groups of countries. However, economic complexity and industrialization affect environmental pollution in MENA and developing countries positively but in OECD and developed countries negatively. This relationship accepts the Environmental Kuznets Hypothesis for the nexus of economic complexity and environmental pollution. According to the findings, policymakers in developing countries should increase environmental considerations in their development planning. Also, developed countries should assist developing countries in their endeavors to decrease environmental contamination by supplying technology transfer and financial aid. [ABSTRACT FROM AUTHOR]

This research examines the causal impact of institutional quality on economic development from a novel perspective. At the country level, we exploit variation in the natural malaria prevalence in 1900, just before vector-control methods were developed, to instrument for institutional quality using a two-stage least squares instrumental variables framework. Our instrument is a population-weighted average of malaria endemicity estimates for the year 1900 developed by the World Health Organization scientists in the 1960s. We argue that this measure of historical malaria offers more expansive geographic information about the disease environment, and our baseline IV estimates reveal that greater institutional quality causes greater contemporaneous economic growth. Next, we investigate the robustness of these baseline results to alternative explanations, including the role of geography and the role of early colonizers' experiences, as the causal link between the early disease environmental, institutional quality, and contemporary growth. As an additional test of the explanatory power of malaria endemicity in 1900 as an instrumental variable, we replace our instrument for settler mortality and replicate the core results from the seminal study on colonial origins of comparative development by Acemoglu et al. (2001). In summary, we propose that malaria endemicity estimated for 1900 holistically explains the legacy of early disease on institutional quality development and contemporary economic development, thus significantly contributing to the resolution of the geography versus institutions debate. [ABSTRACT FROM AUTHOR]

Even though health expenditures are one of the significant determinants of accumulation of human capital and economic growth, researchers have paid less attention to unveiling interactions between health care expenditures and economic performance. The main objective of this study is to investigate disaggregated health care expenditures and economic growth nexus in Türkiye from 1979 to 2019 by using an asymmetric causality approach. The main empirical findings could be briefly summed up as follows: there exist asymmetric causal effects running from total health expenditures, out-of-pocket health expenditures and voluntary health expenditures to economic growth, while there is no asymmetric causal effect from compulsory health expenditures to economic growth. The policy inferences of empirical results for enhancing the productivity of health expenditures are stated in the body of the paper. [ABSTRACT FROM AUTHOR]

This study investigates the effects of military expenditure, final consumption expenditure, gross national expenditure, net income, broad money, and total reserves on Pakistan's economic growth. The nonlinear autoregressive distributed lag (NARDL) and robust regressions methods are used to examine the relationship among variables. The outcomes revealed that total reserves positively impacted the economic growth during positive and negative short- and long-run shocks. Final consumption expenditure and gross national expenditure negatively influenced the economic growth. Similarly, military expenditure and net income positively and negatively impacted the economic growth, while broad money has adverse and positive relation to economic growth. The results of the robust least squares and stepwise least squares approaches showed that all variables except military expenditure and reserves have positive impact on economic development. This study suggests that government should carefully monitor defence-related investment to maintain economic development. [ABSTRACT FROM AUTHOR]

There has been much research undertaken over the years to better identify the factors leading to both firm and economic growth. These range from building an understanding of innovation, particularly of non-rivalous goods to better examining the increasing returns present in increasingly networked economies. In Central Asia, studies of firm and accompanying economic growth have been more on the quantitative side in examining aggregate factors such as industry productivity and the resulting impact on GDP. The current research seeks to review the economic growth literature and its links with innovation and human capital in the context of a Central Asian economy. Top down and particularly bottom up policy implications are also examined. An Interpretive Phenomenological Analysis (IPA) is also taken in interviewing Iranian researchers and experts from the areas of economics, entrepreneurship, science and technology, and public policy. They are interviewed to illustrate how innovative human capital can contribute to firm development and economic growth in a major Central Asian economy not normally associated with innovative human capital and new ventures. Potential implications for firm growth through innovation and enhanced human capital are identified and linked to the Central Asian context and its traditional, historical attention to individual development and the freedom to "have a go." [ABSTRACT FROM AUTHOR]

Research and Development (R&D) is the common denominator of innovation and technological progress, supporting sustainable development and economic growth. In light of the availability of new datasets and innovative indicators, in this work, we introduce a novel perspective to analyse the international trade of goods through the lenses of the nexus R&D-industrial activities of countries. We propose two new indices, RDE and RDI, summarizing the R&D content of countries' export and import baskets—respectively—and investigate their evolution in time, during the period 1995–2017, and space. We demonstrate the potential of these indices to shed new light on the evolution of R&D choices and trade, innovation, and development. In fact, compared to standard measures of countries' development and economic growth (e.g., the Human Development Index among the others tested), these indices provide complementary information. In particular, tracing the trajectories of countries along the RDE-HDI plane, different dynamics appear for countries with increased HDI, which we speculate can be reasoned with countries' availability of natural resources. Eventually, we identify two insightful applications of the indices to investigate further countries' environmental performances as related to their role in international trade. [ABSTRACT FROM AUTHOR]

The maritime industry is significant to the growth and development of nations. The relationship between shipping trade and economic growth in Nigeria is acknowledged in the literature. Still, the need to emphasise the role of shipping import and export volume and exchange rate volatility in Nigeria's economic growth remains. The economic growth and development level that a maritime nation will derive from its ocean depends on its import and export volumes in the face of exchange rate volatility. Using the Vector Error Correction Model, this study analyses the effect of shipping trade on economic growth in Nigeria from 1970 to 2020. The study examines the effect of seaport imports, exports, and real exchange rates on GDP to determine if Nigeria's economic growth is sustainable, that is if the current pattern of shipping imports and exports for economic growth will not hamper future economic development. The cointegration test established a short- and long-term causality from import, export and exchange rates to GDP. The result showed that Nigeria's economic growth is import-dependent and that, in the long run, import and exchange rates significantly affect GDP. The study further indicates that the present export volume does not significantly contribute to GDP growth. The results imply that building an economic system on an import-dominated trade system is not sustainable for future development. The study recommended strategic initiatives to maintain the economic growth rate while promoting export through local production. [ABSTRACT FROM AUTHOR]

This research examines the potential impact of economic growth, carbon emissions, trade, and energy use on tourism development in Pakistan from 1980 to 2018. This study employed the Autoregressive Distributed Lagged technique for the simultaneous estimations of short and long-run associations. The study found a positive impact of energy use, economic growth, and trade openness on tourism development in the short and long run. On the other hand, the study reveals a negative impact of CO2 emissions on tourism development in Pakistan. The study further applied an innovative accounting approach for robust results of the study. The study based on Toda Yamamoto causality approach revealed unidirectional causal association among the study variables. The results, thus, suggest the change in investment decisions as the government and policy makers should encourage investments in services sector rather than polluting industrial sector as the services sector is less polluting and leading sector of the economy. This, in turn, could help attract tourists due to environmentally and economically sustainable growth. [ABSTRACT FROM AUTHOR]

This study investigates the impact of financial development, economic growth, and foreign direct investment on enhancing industrial growth for a panel of selected Sub-Sahara African (SSA) countries from 1990—2017. However, the present study enriches our understanding of financial development by employing a new comprehensive index focused on the accessibility, scope, and productivity of capital systems and banking institutions and incorporated foreign direct investment and economic growth as significant industrial growth drivers in the selected countries. A more robust technique Augmented Mean Group (AMG) and Common Correlated Effect Mean Group (CCEMG), were employed to access the long-run relationship among the understudy variables. Further empirical results shows that financial development and economic growth enhance industrial development with finance exhibiting signifcance while foreign direct investment is seen as adverse. Moreover, a two-way causality was obtained between industrialization and financial development while both foreign direct investment and economic growth had a one-way causality relationship with industrialization. Thus, our study implies that the government officials within these countries must provide a suitable environment for the public, private partnerships, i.e. private sector, which is the backbone for industrial development. [ABSTRACT FROM AUTHOR]

Policy analysis provides multiple methods and tools for generating and transforming policy-relevant information and supporting policy evolution to address emerging social problems. In this study, a bibliometric analysis of a large number of studies on historical policy analysis was performed to provide a comprehensive understanding of the distribution and evolution of policy problems in different fields among countries. The analysis indicates that policy analysis has been a great concern for scholars in recent two decades, and is involved in multiple disciplines, among which the dominant ones are medicine, environment, energy and economy. The major concerns of policy analysts and scholars are human health needs, environmental pressures, energy consumption caused by economic growth and urbanization, and the resulting demand for sustainable development. The multidisciplinary dialog implies the complicated real-world social problems that calls for more endeavors to develop a harmonious society. A global profiling for policy analysis demonstrates that the central policy problems and the corresponding options align with national development, for example, developing countries represented by China are faced with greater environmental pressures after experiencing extensive economic growth, while developed countries such as the USA and the UK pay more attention to the social issues of health and economic transformation. Exploring the differences in policy priorities among countries can provide a new inspiration for further dialog and cooperation on the development of the international community in the future. [ABSTRACT FROM AUTHOR]

Road infrastructure development in a country has been considered an important predictor of economic development and prosperity. Hence applying a systematic analysis approach, this study aims to project the future role of the central government in developing road infrastructure and its significance in the country's economic growth. The main data sources were the literature review and expert opinions in the form of self-administrative surveys and interviews. Besides, the Cross-impact Direct Influence (CDI) matrix was applied to formulate the questionnaire. For the data analysis purpose, MICMAC analysis and Scenario Wizard software were used. The MICMAC analysis results revealed the dominant role of 9 important/key variables in developing the Indonesian road infrastructure. Simultaneously 24 positive states of the important variables what identified via the Scenario-Wizard Method. Findings also depicted stronger consistency among the four scenarios. Whereas Scenario 1 showed the most ideal 9 key features related to Indonesia's road infrastructure developments with a high intensity of concentrating the efforts on planning road infrastructure development in big cities and use of smart and modern technology. Moreover, presenting a group of constructs for developing road infrastructure and resultant economic growth in the country, the current study adds value to the existing literature. [ABSTRACT FROM AUTHOR]

Experiences worldwide indicate that the relationship between energy consumption and economic development is complex. Guangdong Province has experienced a more than threefold increase in GDP since 2005, but it is not clear whether rapid economic growth is at the cost of a large amount of energy consumption. In this study, we employ spatial autocorrelation and hotspot analysis to discover the spatial agglomeration of GDP per capita and energy intensity in Guangdong, China, from 2005 to 2018. Furthermore, panel vector autoregression coupled with a system generalized method of moments is performed to examine the dynamic causal relationship between energy consumption and economic growth under the framework of the Cobb–Douglas production function. We used a multivariate model and grouped studies based on the differences in regional economic development and the results with similar research. The results show that the GDP per capita of the Pearl River Delta (PRD) is significantly higher than that of the peripheral municipalities. However, energy intensity shows an entirely different spatial distribution. The development of the regional economy depends on its own "assembling effect". In regions with significant differences in economic development, it is necessary to conduct grouping studies; otherwise, the overall results will not represent partial results. GDP explains approximately 68.3% of the total variation in energy consumption in the PRD but only approximately 34.5% of that in the peripheral municipalities. We do not confirm Granger causality between energy consumption and economic development. Guangdong can decrease its energy consumption growth without substantially sacrificing its economic growth. The contribution of this study is to propose an analytical framework of the relationship between energy consumption and economic development that integrates time and space perspectives to account for spatial effects in panel analysis. [ABSTRACT FROM AUTHOR]

Bangladesh's economy has flourished a great deal during recent years, establishing itself as an enthralling market. This country's remarkable growth trajectory can be attributed to technological innovation, foreign direct investment, trade and human capital, all of which have significant impacts on its economic growth. Bangladesh's economic development has been poorly explored in previous studies due to the lack of integration between these dynamics. Does the question arise whether this growth factors have a symmetrical or non-symmetrical effect on Bangladesh's economic growth and policymaking? We conducted this study with the primary objective of evaluating how technological innovation, foreign direct investment, trade, and human capital affect Bangladesh's economic development. Based on time series data years spanning 1990 to 2020, this study used the dynamic ARDL simulation method to accomplish its objective. This novel approach allows users to examine possible counterfactual changes in variables based on the ceteris paribus theory, as well as to test cointegration, long- and short-run symmetric associations between variables. Research findings indicate that technological innovation and human capital have a long-run symmetric relationship with Bangladesh's economic development. There is a significant correlation found between economic growth and all variables in the short run. To further check the robustness of the study we employed the nonlinear ARDL approach. Therefore, this study can undoubtedly be used by policymakers and the government as a basis for prioritizing and encouraging critical policy changes that will improve Bangladesh's economic development. [ABSTRACT FROM AUTHOR]

International trade is key to boosting the economic growth and development of an economy. Hence, it becomes critical to analyze its determinants. The present study attempts to empirically analyze the determinants of trade exports of Pakistan with its top-5 trade partners. The prior literature suffers from biased findings due to deploying the aggregate data and ignoring the likely asymmetries in the drivers of the exports. The present study has used the monthly data of oil prices and macroeconomic uncertainty in order to empirically investigate the determinants of exports. For the purpose of analysis, several advanced econometric (quantile unit root, cointegration, and granger causality) tests and (quantile-on-quantile regression) techniques are utilized to handle the issue of asymmetries in the modeled series. The findings reveal a positive and significant relationship between oil prices in Pakistan and exports. Furthermore, macroeconomic uncertainty has a significantly negative impact on the country's exports. Based on the results, key policy implications are provided. [ABSTRACT FROM AUTHOR]

As a noteworthy initiative of financial supply-side reform to precisely support the green development system, can green finance (GF) help achieve the dual goals of "carbon peaking" and "carbon neutrality"? Using data from China's provincial panel between 2007 and 2019, this paper measured the green finance index by the entropy method and the carbon emission efficiency (CEE) with carbon emission as the non-desired output by the Super-SBM model. Then, the influence of GF on CEE was empirically investigated by the dynamic panel model and the spatial Durbin model. The findings show that GF can significantly improve CEE and has a positive spillover impact on CEE in provinces with close economic ties; the upgrading of the industrial structure is a key mediator in the transmission of GF to CEE; and regional heterogeneity analysis finds that GF notably improves CEE in eastern, high development levels of economic and GF regions. The research can offer some theoretical and empirical references for green finance to contribute to low-carbon economic growth. [ABSTRACT FROM AUTHOR]

The aim of this study was to analyze the existence of the Kuznets environmental curve (EKC) hypothesis for a diverse spectrum of environmental pollutants (carbon dioxide, methane, and nitrous oxide) from the Brazilian states from 1980 to 2020. In the Kuznets hypothesis, economic growth, represented by GDP per capita, grows inflection in relation to environmental degradation. Upon reaching a certain point, the relationship becomes inversely opposite, being a positive trend of growth and a retract to environmental indicators, as in the case of greenhouse gases. The application of regression models in strict observance of Grossman and Krueger's EKC econometric model (1995) allowed a critical analysis of the Brazilian empirical model relative to pollutant emissions. The results show the corroboration of the EKC hypothesis for carbon dioxide and nitrous oxide, but not methane gas. Additionally, the discussion on the subject was extended to the debate about Brazil on the world stage. Brazil is on the world stage as a major influencer in environmental issues, so everything empirically contributes, both to academia and public managers, by presenting evidence of the relationship of economic growth aligned with sustainable development. Thus, the study provides contributions to professionals, researchers, and international readers. On the other hand, this study shows as political implications the need for improvements and reformulations of environmental policies in favor of mitigating environmental degradation. [ABSTRACT FROM AUTHOR]

The economic and technological development zone (ETDZ) serves an essential role in driving green development and ecological civilization. Therefore, it is crucial to investigate the impact of ETDZs on eco-efficiency for sustainable development. This paper investigates the impact of the establishment of ETDZs on eco-efficiency by constructing a differences-in-differences (DID) model on the basis of 253 cities in China from 2004 to 2017 as the dataset. This paper also explores the possible intrinsic impact mechanisms through the channels of industrial structure and technological innovation by constructing a mediating effect model, and the heterogeneous effects of ETDZs on eco-efficiency from the perspectives of regional imbalance and city class heterogeneity. Statistical results report that ETDZs significantly positively affect eco-efficiency and such effects are most significant in the first year after the establishment of ETDZs. Industrial structure upgrading and technological innovation are essential role mechanisms for ETDZs to enhance eco-efficiency. Besides, the enhancement effect of ETDZs on eco-efficiency is only observed in the eastern part of the city, with an insignificant inhibitory effect in central and western parts of the cities. However, the establishment of ETDZs in cities with higher city classes is more beneficial to improve eco-efficiency. [ABSTRACT FROM AUTHOR]

Ecological degradation is a major challenge for all nations. The problem is particularly worrying for South Africa, which has recently suffered from various ecological catastrophes. Thus, the empirical study evaluates the nexus between CO2 emissions and financial development, renewable energy, economic growth and environmental-related technologies in South Africa utilizing data between 1980 and 2020. We employed autoregressive distributed lag (ARDL) and time-varying causality to evaluate these connections. The results from the ARDL show that financial development and environmental-related technologies lessen CO2 emissions while economic progress intensifies CO2 emissions. Surprisingly, renewable energy does not mitigate CO2 emissions. Furthermore, the time-varying causality shows that all the independent variables can forecast CO2 emissions at different sub-periods. Finally, our results are resilient to various policy ramifications useful in reducing CO2 emissions and associated adverse ecological consequences. [ABSTRACT FROM AUTHOR]

How to maintain the momentum of sustained economic growth has always been an important issue of concern to all countries in the world. Using a three-level progressive analysis framework, the article provides an in-depth analysis of the evolution of supply-side economic growth drivers in China from 2003 to 2021 and the magnitude of their roles. The results show that in terms of the composition of growth drivers, total factor productivity makes the largest contribution to economic growth, while the contributions of capital scale and labor scale rank second and third, respectively; in terms of the industrial dimension, the changes in the contributions of each factor to GDP growth mainly originate from the influence of secondary and tertiary industries. From the decomposition of total factor productivity growth, industrial capital productivity and capital allocation structure both play a positive pulling effect on overall capital productivity, but have a weak downward trend. Industrial labor productivity and labor allocation structure both play a slight negative pulling effect on overall labor productivity; from the deep decomposition of growth momentum, industrial factor productivity and industrial factor allocation structure play a major positive pushing effect and a weak negative pushing effect on economic growth, respectively. The conclusion of this paper provides a valuable reference for developing countries on how to maintain the momentum of economic growth. [ABSTRACT FROM AUTHOR]

Is it possible to protect the environment while aiming at economic growth, one of the most critical factors in increasing the welfare of societies and individuals, and financial development, which is also essential for economic growth? Our study addresses this question for the example of Azerbaijan, using the ARDL bound test with structural breaks over the period from 1996 to 2017. Our study aims to contribute to the growing literature body investigating the relationship between economics and the environment by: (i) using ecological footprint as an indicator in the examination of the effect of financial development and economic growth on the environment, (ii) investigating the relationship between the related variables with the structural break econometric method that can produce results that vary over time, (iii) carrying out the study for Azerbaijan. While the study results showed an inverted U-shaped environmental Kuznets curve between economic growth and ecological footprint, it was concluded that financial development also reduced the ecological footprint. When evaluated in this context, it is emphasized that while targeting economic and financial development, public authorities, financial institutions, producers, and individuals should act with a pro-environmental consciousness in the production, consumption, and decision-making processes. [ABSTRACT FROM AUTHOR]

Since ancient times, corruption has been one of the essential topics for economists and politicians. Moreover, it is a concern for both developed and developing countries and a significant obstacle to economic development. The primary objective of this paper is to examine the relationships between corruption, economic growth, internet use, and quality of governance alongside other institutional and economic variables in 65 developed and developing countries for the period 1999–2016 by using dynamic panel data methods performing well under cross-sectional dependence. The empirical results can be summarized as follows. The augmented mean group (AMG) results indicate statistically significant relationships between corruption, economic growth, internet use, quality of government, and democracy. Also, we find that an increase in economic growth and quality of governance contribute to reducing corruption in these 65 developed and developing countries. In contrast, an increase in internet use and democracy level raises corruption. The policy implications of the empirical estimations are also discussed in the paper. [ABSTRACT FROM AUTHOR]

This research investigated the association between financial inclusion, energy poverty alleviation, and economic development in South Asian countries and found significant connections. In order to make multilateral conclusions, we have created a panel of data for nations in South Asia and estimated not only the dynamic panel estimation but also the panel unit root, Kao (1999) estimates, and the ARDL tests for each country. A significant association between financial inclusion and economic development and poverty reduction is discovered by using dynamic panel estimates. Economic development has also been shown to have a favorable influence on energy poverty alleviation. According to the findings of the ARDL analysis, financial inclusion has a beneficial influence on economic development. Financial inclusion and economic growth have reciprocal causalities in energy poverty alleviation, as shown by the study's testing of this association. As a result, it is acceptable to infer that financial inclusion favors economic development and poverty reduction in South Asia. The study also suggests the policy implications for stakeholders. [ABSTRACT FROM AUTHOR]

The green finance sector is key to accelerating the green transformation of economic structures and promoting green economic growth. However, understanding how to effectively combine green finance and green innovation is still in the exploratory stage. Using the implementation of the Green Credit Guidelines (hereinafter Guidelines) in 2012 as a quasi-natural experiment, we examine the causal relationship between green finance and green innovation. According to our findings, the green innovation performance of green credit-restricted industries improved significantly after the implementation of the Guidelines, although quality improvements of green innovation were not evident. This was a result of improved management efficiency and investment efficiency. Additionally, the Guidelines appear to have a more positive impact on green innovation for firms with lower levels of managerial short-termism or firms in regions with stronger environmental law enforcement. Green innovation can significantly enhance the environmental and social performance of a company. [ABSTRACT FROM AUTHOR]