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Globally, there have been significant efforts to develop new means of assessing progress beyond GDP in recent years. The recent publication by the UN Secretary-General of a policy brief (UN, 2023) is inviting member states to move beyond GDP by measuring what truly matters for sustainability and prosperity. The policy brief outlines the shortcomings of GDP as an indicator of summarizing everything too much and revealing too little to be able to adequately inform policy (UN, 2023; pp. 12). This paper will present a review of a number of recent documents (2019 - 2022) published by international agencies to explore their views on the role and types of growth to achieve their objectives such as reducing emission, improving resilience, protecting biodiversity and so on. The paper will discuss two approaches to growth and development. Most of the listed reviewed documents suggest approaches for governments to move towards sustainable, inclusive, and sustained economic growth. Second set of recommended approaches focuses on the importance of broadening the indicators used to describe economic growth, often referred to as "moving beyond GDP". The paper will provide details on each of the suggested approaches and potential linkages and win-win solutions to improve pressing global challenges. [ABSTRACT FROM AUTHOR]

The paper deals with the analysis of the economic growth model with CES-production function. The elasticity parameter of this function varies up to its limit value of one. In the limit case of the unit elasticity, the production function turns into Cobb-Douglas type. A special attention in the paper is devoted to this limit transformation and its impact on the stabilized solutions. Numerical examples finalize the paper. [ABSTRACT FROM AUTHOR]

The paper is devoted to the problem of construction of value functions in optimal control problems on infinite horizon for economic growth models. Grid approximation schemes for stationary Hamilton-Jacobi equations are realized for numerical calculation of value functions and optimal controls. For compactification of the grid domain and the range of the value function a series of nonlinear changes of variables are implemented for generating the contraction-mapping operators in the convergent approximation schemes. A special sample of economic growth model is used for verification of calculation results for value functions and optimal controls in grid approximation schemes. [ABSTRACT FROM AUTHOR]

The global crisis brought on by COVID-19 is unparalleled. Tourism is one of the many industries that have been made public by the recent COVID-19 epidemic. Indonesia itself was affected by the impact that caused a decrease in both foreign and domestic tourists. Smart tourism through the metaverse concept is one of the proposed solutions to deal with this problem, considering that metaverse has been booming lately, so it can attract the attention of tourists who cannot come directly to the tourist attractions. This paper aims to provide new insights regarding how to improve the Indonesian economy through tourism, so people realize the importance of the metaverse in the future. Moreover, we believe that the future of this metaverse will be very bright because the advantages of technology used in the metaverse are very beneficial for users (Blockchain, Crypto, Non-Fungible Token). [ABSTRACT FROM AUTHOR]

This research paper was focusing on the impact of foreign direct investment (FDI) in the agriculture sector on the growth rate of the selected African countries. Nigeria, Egypt, South Africa, Algeria and Morocco have been selected by the researcher in this study. The researcher selected this country due their highest contribution on growth rate (GDP) among the African countries. To see the relationship between foreign direct investment in the agriculture sector, employment rate, capital and the Gross Domestic Product (GDP), the country with higher amount of GDP is more suitable to analyse. It is because of high sensitivity between this variable. The writer focus on African region because of the various economic problem that happened within this region. At the end of this research, the researcher hope that the result will be help the government and the other investors to improve economic performance of this region. [ABSTRACT FROM AUTHOR]

Urban landscape of today Ho Chi Minh is known as the significant increase of individual transportation. Extremely high-density living but inadequate levels of infrastructure provision create serious health problems and environmental impacts in HCM inner districts. In mid 1990s, many papers describe HCM is the city where traffic is transformed from bicycles to motorcycles. In mid 200s, it is labeled as "motor dependent city" and traffic congestion becomes more serious than ever. HCM as under the hyper urbanism are faced with the problem of traffic congestion on a large scale, like many other cities in Asia. Concerning this issue, a lot of solutions were applied but the traffic situation has not much improved. The study predicts that the next step of HCM traffic action will be the shift to cars. Moreover, the future reduction of car taxes in order to reach the globalization is threatening the city by shifting from motor-based to car-based system. In fact, a few years ago, the City Authorities started a series of initiatives and produced several political documents for future development. One of them is the Transport Master Plan for 2030 developed in 2004 and approved in 2013. To overcome HCMC's transport challenges, TMP is planned to modernize and extend the existing road and highway network, and especially an extensive public transport improvement program including metro line as Mass rapid transit (MRT) and bus corridor (BRT) encouraging friendly environment for cycling and pedestrian. This master plan based on the concept of sustainable urban transport towards the integrated approach between transit and spatial land-use. HCM city has potential of densities to support these mass transit systems, yet, the shifts in development are not yet in place and they need a long-term transformation to measure the impacts. Meanwhile, worsening congestion of motorized situation is adversely affecting the city's competitiveness and human life. By redefining the transportation and city interaction, can transit once again play a central role in HCM city after having been structured since colonial time? Would a future of HCM paired with integration concept be an alternative to the motorized city? Being considered as a means of public transport for those who cannot afford cars, what can be the prediction of advantages and disadvantages after Transport Master Plan towards 2030 are done? Transport differs from other problems developing societies face, because it gets worse rather than better with economic growth. While sanitation, education, and other challenges improve with economic growth, transport gets worse. [ABSTRACT FROM AUTHOR]

The study represents an overview of the international research agenda related to the concept of the global energy transition. The metadata of reviews and research articles from the Scopus database for 1991 to 2021 were collected and investigated with methods of scientometric analysis. The built document co-citation network with detected clusters recovers an evolution of the main research topics along the considered period. Research front as a set of emerging and expanding topics was identified and reviewed. The frontier topics focus on multifaceted integration - technological, infrastructural, organizational, sectoral, etc. This integration draws the attention of researchers to the challenges of intelligent management of future energy systems while maintaining low-carbon targets for the energy transition with sustainable economic growth. [ABSTRACT FROM AUTHOR]

The paper reveals some answers pertaining to the relationships between the economic aspect and conservation activities in Kuala Lumpur. The main aim of this research is to determine if there is correlation between economic growths with the conservation of historical buildings in Kuala Lumpur. In addition, this research is also undertaken to determine the locations and types of conservation projects proposed in the city in relation to economic aspect. Specifically, it covers the locations and types of conservation and redevelopment of historical buildings in Kuala Lumpur from 1993 until 2007, a period that spans two economic growth cycles of the Malaysian economy. The research has been focused on the old parts of the Kuala Lumpur city centre as outlined in the 'Garispanduan Pengekalan Bangunan Di Dalam Kawasan Pusat Bandar Kuala Lumpur' published by the Kuala Lumpur City Hall in 1996. These parts of the city cover among others areas along Jalan Petaling, Jalan Tun HS Lee, Jalan Tuanku Abdul Rahman, Jalan Sultan, Jalan Tun Perak and Jalan Ipoh. The numerical data collected has been analysed using descriptive statistics. A correlation between the economic growth data with the number and estimated costs of the conservation and redevelopment projects is then identified through graphic comparison and scatter plot diagram. The strength of the relationship is measured by the coefficient of correlation. Sources that have been used to identify the possible reasons that could explain the correlation have also been analysed. The research has produced a few findings. Firstly, there is a correlation between economic growth and the conservation of historical buildings in the areas of study in Kuala Lumpur. This finding suggests that economic expansion and contraction have had certain influence on the conservation of historical buildings there. However, through charts comparison, scatter plot diagram and correlation coefficient, it could be concluded that the correlation is a weak one. As a result, it is difficult for the finding to be used as the general indicator applicable to other areas in the city, let alone the country. In addition, this finding is only applicable to the areas of study within the period of 1993 until 2007. Secondly, the research has also identified that a negative economic growth would hamper the conservation of historical buildings there. However, the relationship is also weak thus could be explored more in future research undertakings. Finally, another significant finding is that all of the conservation works proposed are driven by the private sector. [ABSTRACT FROM AUTHOR]

Emergent nations are undergoing expeditious economic growth and the increase of densely populated regions have resulted in megacities having unscientific methods of squander management. This has significantly deteriorated the human health and environment. People are perceiving that climate change is a very existent problem and needs immediate action to mitigate the effects. This paper focus at vitality recuperation from Civic Rigid Squander (CRS) using benefits of gasification process and the feasibility of decentralized method of squander-to-vitality plants. By adopting Clean Development Mechanisms (CDM), a viable option for squander management in megacities which will be eco-friendly and economically beneficial. [ABSTRACT FROM AUTHOR]

Along with the economic expansion which started at the beginning of the new millennium, Croatia and other new European union members from Central and Eastern Europe simultaneously accumulated internal and external imbalances. These imbalances materialized after the global financial crisis of 2009 in the form of a recession, high unemployment, growing public debt and instabilities in the financial sector. External imbalances such as continuous current account deficits were decreased in the period after the 2009 crisis and are thoroughly researched in the existing literature. The literature mostly points out that competitiveness did not have a significant impact on the development of external imbalances, and instead emphasizes the role of other factors such as domestic demand. On the other hand, the impact of competitiveness shocks on domestic production and the internal imbalance (output gap and price stability) remains relatively unexplored. This paper seeks to assess the impact of price and cost competitiveness shocks on domestic economic activity in the selected new EU member states: Czech Republic, Croatia, Estonia, Hungary, Poland, Romania and Slovenia. Based on the estimated sign restricted vector autoregression models for individual countries, impulse response functions indicate that the negative impact of cost competitiveness (unit labor costs) on the development of domestic GDP is more clearly pronounced than the negative impact of price competitiveness (real effective exchange rate). Moreover, there are significant heterogeneities in output responses to competitiveness shocks between countries. These results should be interpreted with caution since the paper did not identify sources of the deterioration of competitiveness – the nominal exchange rate shocks and relative prices shocks both represent a shock in the real exchange rate, while the unit labor cost shock can originate either in the productivity or wage shock. [ABSTRACT FROM AUTHOR]

Indonesia is fully engaged in the acceleration and prolongation of economic growth. Indonesia expects annual economic growth of 6 percent within 5 (five) years. One indicator of the ease of attracting foreign investors to Indonesia is to have rapid access to the investment licensing process. The Omnibus Legislation is used as a facility to promote the provision of investment. This system, the Spatial Planning Rule, affects at least 79 laws and regulations. This paper intends to analyze the Spatial Planning Law's reform through the omnibus law process, which is applied to the law of work development. Normative legal analysis is this type of research. A conceptual approach is a form used. This research shows that Indonesia's spatial planning reforms to encourage investment should, therefore, be introduced with the use of 5 (five) improvements. Simplifying simpler licensing forms has led to a spatial change in the direction of investment. [ABSTRACT FROM AUTHOR]

Many countries have noted economic expansion and advancement in the construction industry, and the key prerequisite to realizing its current potential is the construction of taller and deeper structures. On the other hand, the development of millions of tons of construction waste per year is an issue that is growing at a similar rate. This volume of construction trash contributes to numerous environmental issues around the world. The tremendous rise of Iraq's building industry during the last few decades has been witnessed. This rapid growth is resulting in a massive amount of construction and demolition debris. This paper proposes a theoretical method for calculating the trash generation rate of building and demolition projects using accessible data, and it is offered as a less complex and more generally applicable alternative to hand sorting and weighing debris on site. In a case study in Iraq, the method is used for ten projects. The trash generation rate was determined in this study, with a waste generation rate of 26.91546 (t 100 m-2) for standard construction methods and (t 100 m-2). Although it is difficult to predict the exact amount of construction and demolition waste generated in the future, the results show that the amount of waste generated in the year 2032 will be 16795179 (ton/year), indicating the need to develop a prior plan to properly manage construction and demolition waste. [ABSTRACT FROM AUTHOR]

The export-led growth relationship has long been studied and the evidence is well documented theoretically and empirically. This paper extends the study to examine the two-way relationship (export-led growth and growth-led export) and to study the relationship in a nonlinear form. The second objective of this study is to examine if trade openness matters in the relationship by comparing high versus low trade openness countries. For these purposes, the static panel threshold regression of Hansen (1999) is applied using the sample data ranging from year 1973 to 2018. The results have detected threshold effect in the two-way relationship for high trade openness group, while no threshold effect is detected for the low trade openness group. Hence, the export-growth nexus is nonlinear for high trade openness group, while it is linear for low trade openness group. The results also revealed that both export-led growth and growth-led export hypotheses hold for both groups of countries. However, the effect of export and growth on each other might vary across regimes for the nonlinear model in high trade openness group. Furthermore, trade openness matter towards the relationship between export and economic growth where the impact of exports toward growth in high trade openness countries is always greater than in the countries with low trade openness. These are because trade activities are important in high trade openness countries. Besides, other factors such as import, population growth and capital formation might have effect on growth and export either directly or indirectly. [ABSTRACT FROM AUTHOR]

The paper analyzes dynamical growth models predicting cyclic development of investigated economic factors. The research deals with an optimal control problem based on the economic growth model with the production function of the Cobb-Douglas type. Following the Pontryagin maximum principle, we derive the Hamiltonian system and conduct its qualitative analysis, which reveals conditions for the cyclic behavior of the optimal solutions around the isolate steady state. Numerical experiments illustrate the obtained results by demonstrating phase portraits corresponding to steady states of the focal type. [ABSTRACT FROM AUTHOR]

In the world over, the constant increase in the level of unemployment has awakened government at all levels to realize the importance of entrepreneurship education as a stimulant for driving economic growth and development. This work is a review of entrepreneurship education, a General Studies programme of Ajayi Crowther University, Oyo and its relevance to national development. A survey questionnaire was formulated and sent to progressing ex-students of Ajayi Crowther University who are applying the knowledge gained from General Studies (GES) of Entrepreneurship Education rather than their primary field of study in establishing their own businesses. The review showed that entrepreneurship education is a tool that is needed for building soft skills in students, reducing the rate of unemployed university graduates and enhancing economic and national development. The paper recommends a constant review on technical skills training, creation of idea incubators, industrial attachments and programmes relative to students’ field of study. [ABSTRACT FROM AUTHOR]

Many countries in the Balkan region have long been awaiting their accession in the European Union. Countless efforts, governmental reforms and policies are undertaken to ensure compliance with the international standards, adoption of best practices and to steer economic growth. Foreign direct investments serve various functions in the host economies, thus potentially triggering also economic growth. Given other advantages that these countries have such as the favorable climate and geographical location, FDI can become an important complementary pillar for growth if supported by adequate reforms targeting justice system, fair competition, and stability. On the face of rapid globalization, it becomes important to know how the region is benefiting from international capital flows and how various factors from different spheres shape them. In this paper, secondary data collected over the course of the last decade is used to study the financial, political, legal, and economic factors that shape FDI. The panel-data regression analysis allows identifying how policymakers can channel their policies into supporting FDI and creating solid foundations to reap the full benefits arising from them. This study provides an up-to-date, comprehensive analysis, which does not only contribute to the existing regional literature, but also to academia, practitioners, and pertinent stakeholders. [ABSTRACT FROM AUTHOR]

Measuring the efficiency of economic growth has been regarded as a crucial task because it depicts the quality of people's lives. Efficiency refers to the ratio of output to specified inputs. There are some methods to investigate efficiency, such as Data Envelopment Analysis (DEA). This method evaluates the efficiency of a set of decision-making units (DMUs) that employ numerous inputs to generate output by solving linear programming problems. This method is widely known as a managerial tool for measuring efficiency because it does not require prior assumptions. Therefore, this paper aims to measure the efficiency of economic growth in 38 regions in East Java over the period 2015-2019 using Data Envelopment Analysis. We consider two input variables, namely labor and regional expenditure, and one output variable, regional Gross Domestic Product (GDP), meanwhile 38 regions are considered DMUs. The term input-oriented model refers to a reduction in the amount of input used to produce a given output, indicating input use efficiency. Furthermore, two DEA models termed CCR and BCC models are employed. The result reveals that by using the CCR model, Kota Kediri is the only efficient region during the period 2015-2019. Meanwhile, according to the BCC model, Kota Kediri, Kota Surabaya, Kota Mojokerto, Kota Pasuruan and Kota Probolinggo are all efficient. On the other hand, other regions are inefficient. [ABSTRACT FROM AUTHOR]

The estimated billing system constitutes threats to economic growth and productivity in the country as it automatically provides avenues for exploitation. In Nigeria, such estimated bills are strategically, mischievously overestimated aimed at putting customers in perpetual debt bondage such that they would always have outstanding. This paper focusses on comparative study on energy charged for metered and unmetered users. Estimated and prepaid bills of customers under energy feeder XPSECllKV were obtained and compared. The tariff classes considered in this study are residential(R), commercial (C), industrial (I) and special cases (A). Prepaid metering bills reveal an average savings of 52.2% for all the subclasses considered when compared with estimated billings. The application of the weighted average cluster load technique for unmetered customers shows energy savings of 45.6% against the regular load measurement method for unmetered maximum demand customers. Recommendations were consequently highlighted. [ABSTRACT FROM AUTHOR]

A strong correlation between economic growth, energy consumption and carbon dioxide (CO2) emissions has made the increasing level of CO2 emissions becomes a perpetual problem worldwide. Therefore, the efficacy of current energy and environment related policies needs to be evaluated. In this regard, finding a reliable model to accurately forecast CO2 emissions is of importance, particularly for a developing country like Indonesia. By involving an unbalanced panel data of 77 countries covering the period of 1966 to 2019, this paper proposes a model which relies on the machine learning method to forecast CO2 emissions in Indonesia and to predict the feasibility for decoupling CO2 emissions from economic growth. This study finds the beneficial impacts of new and renewable energy on reducing CO2 emissions. However, the peak of CO2 emissions in Indonesia was not predicted. Hence, decarbonization of Indonesia's economy is not likely to be achieved in the near future. [ABSTRACT FROM AUTHOR]

The paper is devoted to the solution of the scientific problem concerning the development of theoretical and applied principles of forming the economic policy of Ukraine in the field of energy in the context of European integration. The urgency of scientific research is due to the crisis state of the energy sector of Ukraine, the urgent need for its reformation in the conditions of integration into the European energy market. This requires finding alternative ways to solve a particular problem, one of which is the development of Ukraine's economic policy in the field of energy in the context of European integration. Despite the significant contribution of scientists to the formation of methodological bases for analyzing the energy market of Ukraine, conceptual, theoretical, methodological and methodological bases of formation of complementary economic, energy policy of the country in the conditions of European integration on the principles of harmonious development remain inadequately grounded and formed. Ensuring all spheres of the Ukrainian economy by different types of energy and fuel is one of the most important tasks of the management system, economic policy of the country, a necessary condition for its successful and harmonious development. The phenomenon of innovation and innovative activity reflects the dynamics of society, covers all areas life, carries a landmark for the future. The essence of this phenomenon requires thorough research from the standpoint of philosophical, scientific, technical, economic and socio-cultural aspects. Based on the growing strong regulatory framework, there is a leading role of innovation for the state as a whole and for individual enterprises and the obvious need to increase innovation, build innovation capacity and implement systematic targeted planning, development, implementation and use of innovations. The study suggests that the solution to the problems of formation is developed effective management system of innovation activities of enterprises, which meets the objectives of their innovation strategy, depends on the use of advanced methods and approaches, adequate elements of models of innovation processes of modern generations, and meets the conditions of informatization and digitalization of the economy. [ABSTRACT FROM AUTHOR]

The global increased of market integration for the past few decades has been staggering. Although numerous research have shown market integration as one of the main drivers of economic growth, existing literature has yet to find a conclusive result. Hence, this study examines the impact of stock market integration on economic growth in 32 countries of Asia and Europe regions. The study utilizes the Kalman Filter method to generate the stock market integration index and heterogenous panel models to investigate its relationship towards economic growth. Overall, the result shows that stock market integration has positive impact on economic growth in Asia and Europe high-income countries. However, the impact is not significant in Asia Middle-Income Countries, which suggest the insufficient absorptive capacities in these countries to benefit from the market integration. Such findings call for more appropriate market liberalization policies that fits the economic environment and geographical location of these countries. [ABSTRACT FROM AUTHOR]

The article discusses the oil industry, which includes such important industries as exploration, production, transportation, refining and marketing, has determined the fate of mankind and the world since the 19th century. The purpose of this study is to identify the relationship between the economic development of the region and oil resources. This shows that we must take into account the great attention to the exploration and production of oil and the possibility of gas in our country. It is noted that SOCAR has become an exporter of oil in the country: today it accounts for about 70% of Azerbaijan's crude oil exports. The research hypothesis is based on the assumption that in the current market conditions it is important to attract investments in the oil and gas sector of Azerbaijan. The expansion of activities to identify and establish such indicators of productivity in economic relations is due to the high assessments of SOCAR's development. Methods used in Azerbaijan of a close relationship between oil exports and GDP. With the successful implementation of the National Oil Strategy, the joint use and export of hydrocarbon resources with foreign companies is increasing every year due to the rapid increase in foreign exchange earnings in our country. Azerbaijan is a world leader in economic growth, an initiator and participant in important regional and international projects. The result of the study is the use of best practices in the field of oil revenue management. [ABSTRACT FROM AUTHOR]

Economic growth is significant for a country to raise its standard of living. It is found that economic growth can be contributed by several factors such as capital, labour and total factor productivity (TFP). Therefore, this study aims to analyse the contribution of education and labour skills to economic growth in Malaysia. For this purpose, the analysis of the study is to use the Autoregressive Distributed Lag (ARDL) approach. The focus of the study is in Malaysia based on data for the period 1982‒2017 obtained from the Department of Statistics Malaysia and the International Labour Organisation. The results show that only capital and labour variables with tertiary education can contribute to economic growth in Malaysia in the long run. Nevertheless, the findings of the study in the short-term show that the variables of capital, labour with tertiary education, secondary education and the ratio of skilled labour can contribute to economic growth. Therefore, the country needs to allocate greater expenditure to the education and training sector as education and labour skills have a positive impact. [ABSTRACT FROM AUTHOR]

The 20th century has witnessed greater economic growth of the countries having large population size and the population growth in terms of number of people added per year. Countries like China, India, Indonesia, Nigeria, Bangladesh and Ethiopia have shown greater economic growth rate in 21st century. Out of 15 most populated countries, 14 were among the top 45 economies (by GDP) with an exception of Ethiopia. However, 9 of these countries are out of top 100 economies by GDP per capita income. High population growth, large ratio of vulnerable employment and higher age dependency ratio are the factors responsible for lower per capita income of these countries. The theory developed by Thomas Malthus seems to be applicable for these countries [19]. Many of the researchers have tried to correlate the rate of economic growth with that of population growth. A statistical analysis of the data from World Bank has been done in presented work to establish the correlation between population and economy [25]. A discussion about the observed trend line and estimated trend line principle of least square method (PLSM) is also presented the basis of consistency of economic growth and age dependency ratio [21]. [ABSTRACT FROM AUTHOR]

Technological innovations are crucial for a country's economic growth as they often have radical innovation potential. Although recognized as a key role in the innovation process, lots of technologies remain unexploited. University spin-offs (USOs) have the potential to transfer technologies into technological innovations. Often though, in universities there is a lack of consideration of potential implementation right from the start. The so-called fuzzyfront end (FFE) stage is crucial for successful innovation, as no commercialization can be achieved without the identification of a suitable application. This represents a critical hurdle, as of to date appropriate approaches for a successful systematic identification and validation of technology applications are missing. Furthermore, most investigating studies rely on data from spin-offs that are already operating successfully on the market and have therefore survived the critical initial stages of development, without highlighting the FFE of their process. This fact makes the pre-development activity of opportunity recognition appear to be a scientifically neglected topic. In this research a mixed-method approach is conducted to investigate the critical hurdles in the technology application selection (TAS) process of technologies, consisting of an extended literature review, completed by interviews with stakeholder involved in the USOs ecosystem. Striving to uncover the black box of the FFE, the study aims to specify and operationalize requirements for application identification of technologies. These findings are of relevance for researchers and practitioners which like to facilitate the exploration of potential technological innovation. [ABSTRACT FROM AUTHOR]