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The impact of logistics development on the economy covers many aspects, such as production, cost, employment, international trade, etc. It is an indispensable part of the modern economy, which helps to improve overall economic efficiency and social prosperity. This study studies the spatiotemporal dynamic evolution characteristics of China's logistics development from 2008 to 2018 and explores its impact on economic growth in multiple dimensions of time and space. The research findings indicate the following: (1) From 2008 to 2018, China's logistics development level (LDL) exhibited a clear upward trend. The differences between the eastern, central, and western regions showed fluctuating downward patterns, ultimately converging towards a high-level concentration. Concerning spatial distribution, China's logistics development demonstrated a trend towards the west and south. However, the spatial pattern of "strong in the east and weak in the west " has existed for a long time. Moreover, the "T-shaped" pattern between coastal provinces and those along the Yangtze River Basin deepened, and the LDL in the central and western regions significantly improved. (2) The advancement of China's LDL effectively promotes its economic growth, confirming that the Belt and Road Initiative enhances the role of logistics development in driving economic growth. Regarding regional differences, logistics development positively influences economic growth in the eastern and western regions, with a less significant impact on the central region. Regarding the strength of influence, logistics development has a more substantial effect on promoting high-ranking provinces in the entire country, the eastern region, and the central region, as well as boosting economic growth in low-ranking provinces in the western region. [ABSTRACT FROM AUTHOR]

As the six central provinces account for 23% of total national carbon emissions (CE), research into the decoupling status of their economic growth (EG) and carbon emissions is critical to achieving the Dual Carbon Goals and the Rise of Central China Plan. This research initially examines the decoupling status between CE and EG using the Tapio decoupling model, based on energy consumption (EC) dataset from six central provinces in China between 2000 and 2019. The decoupling index (DI) is then divided into five decoupling drivers using the LMDI method. Finally, an enhanced STIRPAT model is used to examine the decoupling status of CE and EG in the six central provinces from 2020 to 2040. The research findings are: (1) The six central provinces exhibited a stable decoupling status between 2000 and 2019. The DI of the six central provinces ranged from -1.2 to 3.4. (2) The decoupling performance is influenced mainly by the inhibitory effect of economic development (GI) and the promoting effect of energy intensity (EI). The GI consistently maintains an impact value of around 0.9. EI performance varies widely across provinces. (3) From 2020 to 2040, Anhui, Hubei, Henan, and Hunan show significantly strong decoupling indices distributed between -2.21 and -0.07 in all three scenarios. It is important to note that Shanxi and Jiangxi provinces will experience a Reverse Decoupling phenomenon. These findings are helpful in developing regionally coordinated development policies and strategies for reducing CE. [ABSTRACT FROM AUTHOR]

The Guangdong-Hong Kong-Macao Greater Bay Area has attracted attention for its extraordinary pace of economic development and is considered to be leading the way in China's transformation from a manufacturing to an innovation cluster. However, due to rapid economic expansion and rapid urbanization, the Great Bay Area still struggles with low energy efficiency and environmental degradation, which has slowed down the pace of development. Therefore, in order to alleviate energy pressure, promote the country's sustainable development and gain a competitive advantage in the global market, researching energy efficiency and improving energy utilization efficiency is crucial. In this study, macro-level energy efficiency indicators are constructed using energy consumption data from various cities in the Greater Bay Area for the period from 2000 to 2020, and the spatio-temporal evolution of energy efficiency is analysed. The results show that all cities in the Greater Bay Area experienced an increasing trend in energy efficiency from 2000 to 2019, with significant variation in growth rates and magnitudes between cities. Compared to the nine cities in Guangdong province, Hong Kong and Macao exhibited significantly superior energy efficiency, with Foshan recording the highest growth rate of 14%. In 2020, most cities experienced a decline in energy efficiency due to the COVID-19 pandemic, with Macao experiencing the greatest decrease at 57%. Hong Kong and Macao are both in the "low consumption and high efficiency" target region, while Guangzhou, Shenzhen and Zhuhai are consistently in the "both high" region. Changes in the industrial upgrading index correspond significantly with changes in energy efficiency trajectories, with the transition from primary to secondary and tertiary industries playing a more substantial role. There is no significant association found between the strength of environmental regulation and changes in energy efficiency. The study's findings indicate that the most effective way to achieve economic transformation in the majority of China's regions is to combine adequate environmental legislation with industrial structural adjustment. [ABSTRACT FROM AUTHOR]

The Yangtze River Delta (YRD) ports are pivotal in shaping the Yangtze River Economic Belt and advancing urban economies across China. This article utilizes panel data from 20 cities with ports in the YRD area, spanning from 2011 to 2020, using the spatial Durbin model to explore how these ports influence urban economic growth. The findings indicate that: (1) The YRD ports significantly contribute to economic growth in both the port cities and their surrounding areas, with the indirect impact on neighboring cities being more substantial than the direct effect on the cities themselves; (2) The beneficial spillover effects of the YRD ports on the economic growth of nearby cities vary in intensity over different spatial ranges, marked by distinct boundary effects and geographical attenuation. The influence extends up to approximately 110km; (3) Within the various elements impacting the economic growth of cities in the YRD, financial development prominently exhibits a threshold effect on urban economic growth; (4) Upon analyzing heterogeneity, inland and coastal port cities manifest divergent spillover effects, with inland port cities predominantly exerting a positive spillover on adjacent regions. Accordingly, in order to eventually achieve the shared prosperity of the region's economy, it is recommended that a strong top-level design be established and that efforts be made to transform the YRD region into a core region a diffusion and driving effect. [ABSTRACT FROM AUTHOR]

Physical capital stock is the basic indicator of macroeconomic empirical studies and also an important manifestation of macroeconomic activity capacity. When measuring China's provincial physical capital stock by the perpetual inventory method, the treatment for the depreciation rate and the initial physical capital stock in the existing literature has some defects in reflecting the economic performance. The purpose of this paper is to build the most reliable and reasonable statistical series of China's provincial physical capital stock. We establish a measurement formula in form of the variable depreciation rate and improve the treatment for the depreciation rate and the initial physical capital stock. For the depreciation rate, we measure the benchmark depreciation rate of physical capital and determine the variable depreciation rate according to the economic growth rate, which makes the variable depreciation rate reflect the economic growth. For the initial physical capital stock, we measure the initial physical capital stock according to the capital output ratio, which makes the initial physical capital stock reflect the economic aggregate. Based on these improvements, we measure China's provincial physical capital stock from 1952 to 2022 by the perpetual inventory method. Through analyzing the measurement results, we have a more distinct insight into the temporal and spatial characteristics of China's provincial physical capital stock: The growth rate of physical capital stock at the provincial level has slowed in spite of remaining high; The eastern region is much higher than the central and western regions. According to these two characteristics, it is suggested that policymakers need to improve market mechanisms and adjust investment policies to promote a benign profile of economic growth and a regional optimization of capital formation. [ABSTRACT FROM AUTHOR]

Using a two-step approach GMM, this study examines the short- and long-term effects of fiscal deficit on the economic growth of 42 Sub-Saharan African nations between 2011 and 2021. The World Development Index, the most reliable source, is where the panel data is taken from. Using the Levin-Lin-Chu and Hadri LM tests for unit root, it was determined that there is no risk of a random walk in the data. The study's findings indicate that while the fiscal deficit has short-term, positive, and significant benefits on the economic growth of SSA countries, it has long-term, negative repercussions. According to the system GMM's results, an increase in the fiscal deficit of SSA countries is linked to a short-term increase in economic growth of 0.036 percent, while an increase in the fiscal deficit of one percentage point is linked to a long-term decline in economic growth of SSA countries of 0.013 percent, holding all other factors constant. The study's findings also showed that the budget deficit has a larger positive short-run coefficient than a negative long-run coefficient. The study also revealed that while real effective exchange rates and inflation short-term hinder economic growth, gross fixed capital creation and real interest rates are the primary drivers of economic expansion. Long-term economic growth in the SSA countries is also found to be positively and significantly impacted by gross fixed capital formation. According to the study, SSA nations should manage their fiscal deficits and, in the long run, provide more funds for gross fixed capital development. [ABSTRACT FROM AUTHOR]

Sustainable development and raising the domestic value-added rate of exports (DVARE) have become essential priorities in the pursuit of high-quality economic growth. An econometric spatial model is developed in this research using data on Chinese enterprises spanning 2008 to 2019. According to a study, exports' domestic value-added rate (DVAR) can be successfully increased using environmental, social, and governance (ESG) practices. Spatial spillover analysis demonstrates that adopting ESG practices boosts export DVAR both within and between regions. According to heterogeneity analysis, the sample's overall increase in DVARE as a result of ESG practices is mostly attributable to the mix and processing trade organizations, the eastern area, and large firms. An examination of the underlying mechanisms shows that businesses that implement advanced technologies are able to reinforce the favorable impact of ESG practices on DVARE. This article gives evidence from real-world studies that show how ESG practices help boost Chinese exports and advance sustainable development. The findings hold significant implications for other developing nations as they make the transition towards a pattern of economic growth. [ABSTRACT FROM AUTHOR]

Population aging has become a social issue of concern to the whole world, and as the world's most populous country, how to cope with population aging will be a hot issue that all sectors of Chinese society must think about. This paper uses provincial panel data from 30 provinces in China from 2000 to 2021 to study the relationship between population aging and economic development based on the perspective of health expenditure. The DIFF-GMM model, the fixed effect model (FE), and fixed effect instrumental variable model (FE-IV) are used to test this study. The following two conclusions are drawn from the empirical study: (1) population aging has a significant inhibitory effect on economic development, while health expenditures have a significant promotional effect on economic development; and (2) increased health expenditures help to alleviate the negative impact of population aging on economic development. However, the deepening of population aging will likewise inhibit the positive effect of health expenditure on economic growth. Based on the conclusions of the study, it is recommended that the government and society should continue to increase spending in the field of health protection, encourage and guide residents to carry out self-care, and moderately increase personal health expenditure, to promote economic development with healthy bodies and realize the goal of "Healthy China". [ABSTRACT FROM AUTHOR]

The unavoidable option for socially sustainable development is a low-carbon economy. One of the essential steps for China to attain high-quality development is reducing carbon emissions. It is necessary to realize low-carbon development in Sichuan, as it is not only an important economic zone but also an ecological protected area. The concurrent relationship among energy consumption, carbon emissions, and economic growth was examined in this study using the Tapio decoupling indicator, and the factors affecting energy consumption and carbon emissions in Sichuan were broken down using the logarithmic mean Divisia indicator (LMDI). The findings demonstrate a fundamental relative decoupling relationship between Sichuan's energy use and carbon emissions. Analysis of energy consumption and carbon emissions in Sichuan Province from 2005 to 2020 shows distinct patterns. From 2005 to 2012, in 2014, and from 2016 to 2020, the relationship between energy use and carbon emissions was relatively decoupled, with decoupling values ranging between 0 and 1. Absolute decoupling occurred in specific years: 2010, from 2013 to 2018, and in 2020. These periods are characterized by economic growth alongside reductions in carbon emissions. Factors affecting energy consumption and carbon emissions were consistently analyzed, showing similar impacts throughout the study periods. We find that population and economic growth are the main driving forces of these effects. The effects of energy intensity and industrial structure mainly play restraining roles, and the latter has a slightly weaker effect than the former. [ABSTRACT FROM AUTHOR]

The digital economy (DE) has become a major breakthrough in promoting industrial upgrading and an important engine for high-quality economic growth. However, most studies have neglected the important driving effect of regional economic and social (RES) development on DE. In this paper, we discuss the mechanism of RES development promoting the development of DE, and establish a demand-driven regional DE development model to express the general idea. With the help of spatial analysis toolbox in ArcGIS software, the spatial development characteristics of DE in the Yangtze River Delta City Cluster (YRDCC) is explored. We find the imbalance of spatial development is very significant in YRDCC, no matter at the provincial level or city level. Quantitative analysis reveals that less than 1% likelihood that the imbalanced or clustered pattern of DE development in YRDCC could be the result of random chance. Geographically weighted regression (GWR) analysis with publicly available dataset of YRDCC indicates RES development significantly promotes the development of DE. [ABSTRACT FROM AUTHOR]

This study investigates the relationship between Foreign Direct Investment (FDI) inflows and economic growth at sectoral levels in Bangladesh, employing a panel study framework. Utilizing sectoral-level panel data spanning six sectors from 2007–08 to 2018–19, the analysis is conducted using Panel Vector Error Correction Model (Panel VECM). Results from panel unit root tests confirm that all variables are integrated of order one I (1), indicating stationarity. The Pedroni panel co-integration test further supports the presence of co-integration among the variables. Notably, the Panel VECM reveals evidence of a unidirectional causal relationship from Real Gross Domestic Product (RGDP) to Real Foreign Direct Investment (RFDI) across all six sectors of Bangladesh. The findings underscore the significance of formulating pragmatic policies and implementing them effectively to attract FDI across sectors, thereby contributing to the overall economic growth of Bangladesh. [ABSTRACT FROM AUTHOR]

The current research project investigates the correlation between economic growth, government spending, and public revenue in seventeen Indian states spanning the years 1990 to 2020. An analysis of the relationship between key fiscal policy variables and economic growth was conducted utilising a panel data approach, the Generalised Method of Moments (GMM), and fully modified Ordinary Least Squares (FMOLS & DOLS) estimation. In our investigation, we assessed the impacts of non-tax revenue, development plan expenditure, tax revenue, and development non-plan expenditure on (i) the net state domestic product (NSDP) and (ii) the NSDP per capita. The findings indicate that the selected fiscal variables are significantly related. The results indicate that expeditious expansion of the fiscal sector is obligatory to stimulate economic growth in India and advance the actual development of the economies of these states. [ABSTRACT FROM AUTHOR]

In recent years, as China experiences economic expansion and its corporations become more global, it has notably become a central hub for cross-border mergers and acquisitions (M&A) on the world stage. The Chinese government, in tandem, leverages these international M&A operations to drive industrial transformation and progress in technology. This research investigates the role of China's industrial policies in shaping cross-border M&A activities by examining recent instances. Findings indicate that relaxing financial barriers and applying specific industrial tactics bolster companies' abilities to secure funding, consequently energizing cross-border M&A initiatives. Several firms in these international mergers and acquisitions are intricately connected to political strategies, markedly affecting the formulation of industrial policies. This assertion is corroborated through the analysis of relevant statistical evidence. The study methodically collects and scrutinizes data to quantitatively depict the current landscape and influencing elements of cross-border M&A, thus providing concrete evidence for policy and business strategy formulation. [ABSTRACT FROM AUTHOR]

With the rapid progress of urbanization in China, the real estate industry, characterized by a long industrial chain, has become a pillar industry for economic development. Therefore, we inspect the nexus between land finance, housing prices, and economic growth. For this purpose, we use the panel data of 277 cities at the prefecture level or above in China from 2011 to 2019, and empirically examine it by using the Panel Vector Auto Regression (PVAR) model. The results show that there is a causal relationship between housing prices and economic growth. Housing prices promote economic growth in the short term and inhibit it in the long term. Both economic growth and housing prices have a significant impact on land finance. The economic growth show a significantly positive impact, while housing prices promote land finance in the short term with a long-term trend from positive to negative. This is the first study that tries to probe the relationship between urban housing prices, land finance, and economic growth by considering 277 prefecture-level and above cities in China. To promote the stable development of the regional economy, local governments need to overcome their dependence on the housing market and land finance and promote the healthy development of the housing market. [ABSTRACT FROM AUTHOR]

To encourage technological and industrial innovation, nations worldwide implement "re-industrialization" and "manufacturing return." This study investigates the relationship between GDP growth, expenditure on research and development, and medium- to high-tech as a percentage of manufactured exports on technological innovation in Pakistan. We evaluated long-run and short-run causal relationships using the ARDL, bound-F test, and ECM regression. The study found a positive relationship between GDP growth and technological innovation in the short and long run. In the short run, with a one-year lag, the analysis reveals a positive and statistically significant relationship between technological innovation, medium-high-tech exports, and GDP growth. In the long run, R&D is positive and significant, while economic growth and technological innovation are positive but not statistically significant. There is a 0.38 percent chance that exogenous shocks will eventually lead to equilibrium in the long run. Based on the findings of this study, it is recommended to allocate resources to research and development, promoting collaborative initiatives, ensuring intellectual property rights, and developing a skilled workforce. [ABSTRACT FROM AUTHOR]

As a product of combining digital technology and traditional finance, digital inclusive finance plays a vital role in economic growth. This paper deeply analyzes the impact of digital inclusive finance on economic growth and the specific transmission path. This research selects the municipal panel data of Beijing-Tianjin-Hebei from 2011 to 2020 and empirically studies the impact of digital inclusive finance on economic growth. From the perspectives of industrial structure transformation speed, industrial structure upgrading, and industrial structure rationalization, this study analyzes the role of industrial structure in the impact of digital inclusive finance on economic growth and tests the heterogeneity of the impact of digital inclusive finance on economic growth. The results show that digital inclusive finance has a significant role in promoting economic growth. The depth of use of digital inclusive finance has the most significant impact, followed by the breadth of coverage, and the degree of digitization is the smallest. The industrial structure transformation speed and the industrial structure rationalization play a significant intermediary role in the economic growth effect of digital inclusive finance, and the industrial structure upgrading has no significant impact on the economic growth effect of digital inclusive finance; the promotion effect of digital inclusive finance on economic growth is bigger in the economically developed group, the higher digital inclusive finance group and the technologically developed group, and the promotion effect is smaller in the economically underdeveloped group, the lower digital inclusive finance group and the technologically underdeveloped group. The results provide a strong reference for policy formulation to promote the development of digital inclusive finance and economic growth. [ABSTRACT FROM AUTHOR]

Financial inclusion is pivotal in supporting sustainable economic growth and social transformation. It is a key enabler for reducing poverty and uplifting prosperity. Improving financial inclusion has attracted significant attention from practitioners, academics, and governments. However, the asymmetric effect of institutional quality on financial inclusion contingent upon the income level has largely been neglected in the existing literature. As such, this study examines this asymmetric effect using the panel smooth transition regression for a sample of 110 countries globally from 2004 to 2020. Our empirical findings confirm the asymmetric effect of institutional quality on financial inclusion depending on the income level. Improved institutional quality is associated with extended financial inclusion in high-income and middle-income countries. However, low-income countries may not benefit from their institutional reform. Policy implications have emerged based on these empirical findings. [ABSTRACT FROM AUTHOR]

This study utilizes panel data from 30 provinces in mainland China from 2011 to 2020 to investigate the impact of carbon-neutral development on economic high-quality development by constructing an economic high-quality development index and a carbon-neutral development index. Firstly, the study examines the effects of carbon-neutral development on economic high-quality development using baseline regression and spatial Durbin regression. The results indicate that carbon-neutral development has a positive direct effect on economic high-quality growth, but there are negative spatial spillover effects. Secondly, this study employs total factor productivity (TFP) as an intermediate variable in the mediation model regression. The findings demonstrate that carbon-neutral development significantly improves TFP, and the significant improvement in TFP promotes high-quality economic growth. Lastly, the study conducts regional heterogeneity analysis and finds a significant promoting effect of carbon-neutral development on economic high-quality development in the eastern and central regions of China, while it is not significant in the western region. Therefore, it is recommended that China, in the process of achieving carbon-neutral growth, consider the geographical connections between different regions to prevent negative spillover effects. Additionally, regional heterogeneity should be taken into account when formulating relevant policies to promote economic high-quality development. [ABSTRACT FROM AUTHOR]

Digital transformation, based on digital technologies, has triggered economic growth in many industries and brought about production and service transformation in the manufacturing sector. As an important source of innovation output and a driving force for national economic development, it is of great significance to study the impact of digital transformation on innovation output in manufacturing companies. This study analyzes the effects of digital transformation on the quality, quantity, and overall innovation output of manufacturing companies from both the macro provincial-level digital transformation and micro enterprise-level digital transformation perspectives. Additionally, using data from manufacturing companies listed on the Shanghai and Shenzhen stock exchanges from 2012 to 2022, this study empirically tests the mechanism through which digital transformation affects innovation output from the perspectives of internal transaction costs and external transaction costs. The results show that digital transformation promotes overall improvement in innovation output of manufacturing companies and leads to improvements in both the quality and quantity of innovation output. Furthermore, the study finds that the effect of digital transformation on innovation output has a nonlinear characteristic under different levels of market competitiveness and market freedom. The mediation analysis reveals that the influence of digital transformation on innovation output can be attributed to the reduction of internal transaction costs and the enhancement of external transaction efficiency. In terms of digital policy formulation, it is necessary to coordinate the development of diverse and innovative digital infrastructure at the macro level with the micro-level ecosystems of enterprises, in order to reduce transaction costs within and outside innovative entities. Ultimately, it is essential for the government to foster a conducive free market environment that enhances transaction efficiency and timely regulates the excessive competition resulting from oligopolistic monopolies, thus maximizing the potential of digital transformation in promoting innovation output. [ABSTRACT FROM AUTHOR]

Using the digital economy to empower urban economic green growth provides essential opportunities for China to achieve high-quality growth. This paper assesses the level of digital economy and green growth in Chinese cities, seeking to explore the mechanisms and effects of the digital economy on urban green growth in a unified framework. The results indicate that the digital economy can drive cities' green growth. This conclusion still holds after a set of robustness tests. Meanwhile, the green value of the digital economy is fully released among the eastern cities, major urban agglomerations, and high-level cities. Further research shows that the digital economy can indirectly enhance urban green growth in the neighboring regions through spatial spillover effects. Moreover, labor resource mismatch, capital resource mismatch and green technology innovation are significant mediating mechanisms. The findings could guide policymakers on green growth in emerging economies from a digital economy perspective. [ABSTRACT FROM AUTHOR]

The concern for environmental sustainability comes along with sustainable energy for consumption. Therefore, this study aims to explore the direct and indirect effects of renewable energy on economic growth and carbon emissions by employing Partial Least Square Structure Equation Modeling and Granger Causality Test and the data for this study is from 1990 to 2021. The results from the Partial Least Squares Structure Equation Modeling indicate that renewable energy consumption causes carbon emissions and has no effect on economic growth. Financial inclusion and foreign direct investment have positive effects on carbon emissions. However, renewable energy has an indirect negative effect on carbon emissions through economic growth. Foreign direct investment affects economic growth positively. Furthermore, the results from the Granger causality test indicate that renewable energy has a unidirectional causality relationship with financial inclusion and foreign direct investment and has a feedback causality relationship with economic growth. In addition, there is a feedback causal effect between financial inclusion and carbon emissions, a unidirectional effect running from carbon emissions to foreign direct investment, and a causal effect from economic growth to foreign direct investment. This study has suggested comprehensive policy recommendations for policymakers based on the findings. [ABSTRACT FROM AUTHOR]

In the era of globalization, financial development plays a key role in socioeconomic and environmental development. However, its adverse consequences on human life, environmental hazards, and high energy consumption cannot be ignored. Thus, this study investigates the non-linear relationship between globalization, financial development, and energy consumption for BRICS economies. In doing so, we have applied second-generation tests to identify cross-sectional dependence in the data. Cross-sectional augmented Dickey-Fuller (CADF) and Cross-sectional Im-Pesaran Shin (CIPS) have been performed to find the stationary level of variables. The long-term equilibrium link between the investigated variables has been established in continuance using the Westerlund Cointegration test. The Dynamic Seemingly Unrelated Regression (DSUR) indicates that U-shaped relationships exist for financial development and globalization with energy consumption. Conversely, there is an inverted U-shaped relationship exist between economic growth and energy consumption in BRICS. The Dumitrescu-Hurlin panel causality test findings show that a unidirectional link runs from energy consumption to financial development, economic growth to energy consumption, and globalization towards energy usage. Important policy implications have also been discussed. [ABSTRACT FROM AUTHOR]

The city cluster of the Yangtze River Delta is a highly dynamic and competitive economic region in China. The integration of the market across the 27 cities is crucial in driving economic growth in the area. This paper aims to provide policymakers with recommendations on promoting regional integration, enhancing the structure, and improving overall performance. By utilizing the benefits and resources of each community more effectively, greater economic gains can be achieved. The findings of this study can also be applied to other Chinese towns or business areas. Market integration is a necessary foundation for regional integration, as it enables the seamless movement of goods and factors throughout the region while simultaneously reducing entry barriers and supporting the creation of a unified market. Unfortunately, the "vassal economy" model has impeded the region's economic growth. The integration of regional markets is crucial for economic growth. However, it is equally important to create industrial clusters with central towns as their hubs. The Yangtze River Delta urban agglomeration is a prime example of one of six world-class city clusters demonstrating how market integration can result in high-quality economic progress. The paper's primary discoveries are threefold: firstly, there has been a progressive elevation in the level of market integration among the 27 cities within the Yangtze River Delta city cluster, characterized by increasingly intimate connections concerning trade, investment, and population mobility. Secondly, this heightened market integration exerts a catalytic impact on the real economic growth of the Yangtze River Delta city cluster, particularly concerning regional industrial restructuring, transformation, and upgrading. Finally, market integration is poised to expedite the industrial division of labor and synergistic development between the cities, thus promoting a concentration of advanced manufacturing and new industries in the central cities and furthering the development of profitable industries in the central individual cities. [ABSTRACT FROM AUTHOR]

Following the approval of sustainable development goals at the global level, the link between fiscal policy, institutional quality, and economic growth has attracted special attention in economic literature. This study scrutinizes the effect of government revenue-institutional quality interaction on the economic growth of 43 Sub-Saharan Africa countries for the period of 2012–2022. Methodology-wise, the study employed the System Generalized Method of Moment (SGMM) to analyze the panel data gained from dependable data sources; the World Development Indicator and the Heritage Economic Freedom Index. The novelty of this study emanates from the estimation technique designated and the introduction of revenue-institutional quality into the economic growth model of SSA. The result of the study reveals that government revenue adversely affects economic growth while institutional quality positively enhances economic growth before interacting with each other. However, the interactive coefficient of government revenue and economic growth positively affected the real GDP growth rate of SSA countries over the study periods. Precisely, before interacting with institutional quality, a percentage change in government revenue, keeping all other things constant, leads to a 0.0866 percent decline in economic growth while it marks a 0.2329 percent upsurge in economic growth in the presence of institutional quality. The result of the study further shows that government revenue promotes the economic growth of the region when combined with institutional quality. On the other hand, foreign direct investment and openness to trade were the key sources of economic growth whereas the population growth rate adversely impacted economic growth in SSA countries. The policy implication of the study is that SSA needs to strengthen government revenue management. Further, the finding of the study implies that SSA countries need to improve institutional quality through promoting efficiency of the regulatory quality and the size of the SSA governments. In addition to this, the fast real GDP growth rate of SSA countries demands improved institutional quality indicators such as the rule of law and extended access to the open market. [ABSTRACT FROM AUTHOR]

This study empirically examines the interplay between market integration and economic growth across nine cities within the Pearl River Delta urban agglomeration. The findings indicate that the city cluster's market integration negatively impacts regional economic development and has a negligible effect on the surrounding areas. In response, the research recommends the elimination of market trade barriers and a reduction in local protectionism within the city cluster. Additionally, infrastructure enhancement is essential to leverage the distinct comparative advantages of each city within the Pearl River Delta urban agglomeration. An efficient collaboration mechanism is crucial to amplify the collective economic potency of the region. [ABSTRACT FROM AUTHOR]

This study investigated the linkage between fiscal policy-governance indicators interaction and economic growth in 36 Sub-Saharan Africa (SSA) countries from the periods of 2011–2021 inclusive. The study employed two-step system Generalized Method of Moment (GMM) estimation technique due to its practical relevance in panel data analysis. The data obtained from World Bank and World governance indicator was checked for unit root through the help of Im Pesaran Shin and Levin-Lin-Chu unit-root tests, and the result revealed that data was stationary and safe for further analysis. The result of the study also presented that direct economic effect of fiscal policy is negative and significant in SSA countries. However, the interaction of fiscal policy with governance indicators has positive and significant effect on economic growth. Accordingly, before interacting with governance indicators, a percentage change in fiscal policy leads to a 0.20 percent decline in economic growth of SSA countries. Contrary to this, the interactive coefficient of fiscal policy and government effectiveness (0.019) and interactive coefficient of fiscal policy and corruption control (0.0046) are found to be positive and significant. Further, the finding of the study revealed that fiscal policy-voice and accountability interaction coefficient (0.011) and interactive coefficient of fiscal policy-regulatory qualities (0.014) are positively and significantly affecting economic growth of SSA countries. The policy implication is that policy makers in SSA countries should encourage economic policies that improve government effectiveness, strong corruption control, clean public services and better regulatory qualities. [ABSTRACT FROM AUTHOR]

The relationship between inflation, income inequality, and economic growth is a subject of intense debate among economic researchers and policymakers. This study aims to analyze this relationship in Ethiopia using advanced statistical techniques such as VEC (vector error correction) model with Granger causality, and Johansen's cointegrated. The study covers the period from 1980 to 2022 and includes pre and post-estimation diagnosis tests to ensure the accuracy of the model. The results indicate the presence of a long-run relationship among inflation, income inequality, and economic growth, as confirmed by Johansen's cointegrated test. Additionally, the vector error correction model shows a strong long-run relationship between economic growth, income inequality, and inflation. In the short run, there is a significant association between income inequality and economic growth, as well as between inflation and economic growth. The Granger causality test reveals a bidirectional causality between economic growth and income inequality and between economic growth and inflation. However, there is a unidirectional causality from inflation to income inequality. Based on these findings, it is suggested that the government should implement various strategies and policies, including redistribution policies, social safety nets, promoting inclusive economic growth, coordinating effective monetary and fiscal policies, implementing progressive taxation, and reforming the labor market. [ABSTRACT FROM AUTHOR]

The ability of fair investments in local general higher education to drive sustainable regional economic growth is explored. Based on spatial theory, the exploratory spatial data analysis method is used to examine the spatial characteristics of local general higher education expenditures in China's 30 provinces from 2000 to 2021. The spatial Durbin model is employed to analyze the impact of education expenditures on regional economic growth. The results reveal that education expenditures had positive spatial autocorrelation. Education expenditures promoted regional economic growth, and the long-term effect was greater than the short-term effect. These expenditures also had a positive spillover effect, showing that strategic spatial interactions between provinces positively influence growth. The positive spillover effects nationwide and in the eastern region were significantly greater than the direct effect, whereas the spillover effects in both the middle and western regions were negative. [ABSTRACT FROM AUTHOR]

More than 40 years of urbanization in China has brought rapid economic growth, but the uneven development of region and how to achieve common prosperity through urbanization remain a serious concern. This paper analyzes the effect of the urbanization mode of population aggregation in central cities on common prosperity in China. Using panel data of 283 cities from 2004 to 2019, the study constructs a common prosperity index based on the coupling coordination degree of economy, ecology, and society. The Spatial Durbin Model is used to analyze the influence of population aggregation in central cities on common prosperity and the moderating effect of financial self-sufficiency rate. The results show that population aggregation in central cities has a positive effect on common prosperity. There is also a spatial spillover effect, but the impact exhibits an inverted U-shaped characteristic. Moreover, the fiscal self-sufficiency rate has a negative moderating impact on the effect of population aggregation on common prosperity in the early stage, but a positive moderating impact in the later period. This paper concludes by suggesting that the government should promote urbanization, control the size of large cities, accelerate the reform of household registration, and pay attention to the coordinated development of economy, society, and ecology to promote the realization of common prosperity. [ABSTRACT FROM AUTHOR]

The 14th Five-Year Plan stated that China should accelerate green development and promote a comprehensive green transition in economic and social development. As China's economic growth slows, green development becomes greatly significant for the high-quality development of the economy. Based on China's provincial panel data from 2005 to 2021, this study applies fixed effects model and mediating effect model to explore the influence of the government environmental investment on green development. The results indicate that (1) the government environmental investment was conducive to green development, but such effect weakened with time. (2) The government environmental investment indirectly promoted green development through the application of green patents and economic agglomeration. (3) The promotional effect of the government environmental investment varied according to region and time. Specifically, investment exerted the most significant effect on the green development of eastern China, which became more evident after 2015. The government should promote green development by implementing long-term assessment and accountability mechanisms, expanding the scale of economic agglomeration, improving the efficiency of the application of green patents, and improving the accuracy of environmental investment. [ABSTRACT FROM AUTHOR]

In 2014, the Chinese government unveiled the New Urbanization Plan and Document No. 46, which profoundly influenced the development trajectory of the regional economy and sports industry. Using the coupling coordination model, this study aimed to assess the development progress of the sports industry and urban clusters economy. This study sampled Greater Bay Area urban clusters (GBAUC) and Yangtze River Delta urban clusters (YRDUC). The statistics covered one year after the release of the policies to date. We developed a total of 15 macro indicators to evaluate the sports industry and urban cluster economy as two distinct, yet interdependent, economic systems. Using the entropy weight method, we determined the standardized values and weights for the two systems before calculating the coupling coordination degree (D). Between 2015 and 2021, the sampled sports industry and urban clusters economy exhibited coordinated high growth across all economic metrics, with multiple sports industry metrics exhibiting double-digit growth. In 2015, both showed extreme imbalance: D of GBAUC = 0.092, D of YRDUC = 0.091. In 2017, both improved to bare coordination: D of GBAUC = 0.600, D of YRDUC = 0.566. In 2019, both reached well coordination: D of GBAUC = 0.851, D of YRDUC = 0.814. By 2021, both achieved quality coordination: D of GBAUC = 0.990, D of YRDUC = 1. This study provides the first evidence from the sports industry that China's new urbanization model and Document No. 46 are highly effective for synergistic regional economic growth. [ABSTRACT FROM AUTHOR]

It is crucial to examine the impact between foreign direct investment (FDI) and net exports (NE) for unveiling international trade dynamics, and the economic development of different geographical regions. It yields sharp insights into how FDI inflows, driven by theories such as backward linkage, export platform, and knowledge transfer, enhance a host country's export capacity and contribute to economic growth. Moreover, studying the reciprocal linkages between FDI and NE helps recognise the aspects of domestic factors, such as productivity and the product life cycle, in attracting FDI and increasing export performance. Based on those theories, the study aims to ascertain the dynamic causality or correlation between FDI and NE across all regions with the utilisation of panel data gathered from 110 countries, considering the period from 2002 to 2020. The Wavelet coherence method is used to investigate the relationship between these variables across different frequencies and periods, followed by a Granger causality test. The findings demonstrated that FDI and NE have a significant relationship in most regions, with a bidirectional relationship between FDI and NE across all continents. The results could assist respective governments and policymakers in formulating policies related to FDI flows and offer insights into how a host country can attract more FDI and boost NE. [ABSTRACT FROM AUTHOR]

In this paper, we take the Yangtze River Economic Belt as the study area and analyze three types of environmental regulation tools, namely, command-and-control (CAC), market-incentivized (MI) and public-type (PT). We apply the threshold effect to test the impact of each of these tools on regional economic growth and analyze the relationships between the tools and environmental regulation. The entropy method is used to calculate the comprehensive environmental pollution index of each province and city in the Yangtze River Economic Belt. Using Stata 14.0 measurement software and based on provincial data with respect to the Yangtze River Economic Belt from 2014 to 2021, a panel threshold model is used to test the impact of the three types of environmental regulation tools on regional economic growth and analyze the relationship between environmental regulation and regional economic growth. It is found that the relationship between environmental regulation and economic growth is non-linear. There is no significant relationship between CAC environmental regulation and regional economic growth; there is a single threshold effect between market-incentive environmental regulation and public participation environmental regulation on the economic growth of the Yangtze River economic belt. [ABSTRACT FROM AUTHOR]

The study aims to investigate the impact of social, economic and political globalization on the renewable energy-economic growth nexus in a panel of six Asian emerging economies over the period 1975–2020. The results of the CS-ARDL approach show that renewable energy consumption contributes significantly to long run economic growth. Economic and political globalization firmly hold back economic growth, while social globalization directly promotes economic growth. The nonlinear effects of political, social, and economic globalization on economic growth clearly demonstrate the validity of the inverted U-shaped relationship between political globalization, economic globalization, and economic growth, and the U-shaped relationship between social globalization and economic growth. The study also found that economic, social and political globalization moderated the impact of renewable energy on boosting economic growth. Based on the renewable energy consumption model, it is revealed that economic growth significantly promotes long run renewable energy consumption. Economic, social, and political globalization have significantly boosted long run renewable energy consumption. However, the nonlinear effect model reflects a U-shaped relationship between globalization indicators and renewable energy consumption. The interaction of political, economic, and social globalization with economic growth has also witnessed an increase in renewable energy consumption, which supports the scale effect hypothesis. The causality test concludes that there is a two-way causal relationship between renewable energy consumption and economic growth, thus supporting the feedback hypothesis. The policy implications for Asian emerging economies are discussed based on the empirical analysis of this study. [ABSTRACT FROM AUTHOR]

The digital economy may accelerate the upgrading of industrial structures and boost regional innovation output, effectively contributing to China's green economic transformation. The impact of the digital economy on developing the urban green economy is analyzed using data from 280 cities across China from 2010–2019. Using a fixed-effects model and the Spatial Durbin model, the digital economy is found to have a significant impact on urban green economy development. This result is shown to be robust to various factors. There is significant regional variability in the impact of the digital economy on green economic growth, with the strongest impact in the northeast, followed by the central and western regions. Meanwhile, non-resource-based cities and policy pilot cities have a more pronounced role in promoting the digital economy. The intermediate transmission chain of industrial structural upgrading and regional innovation output fosters the growth of the urban green economy via the digital economy. Regional innovation production is responsible for 30.848% of this growth, with the intermediate effect of industrial structural upgrading contributing to 38.155%. [ABSTRACT FROM AUTHOR]

The "Jobless growth" of Pakistan's economy and its acquaintances with frequent changes in different governments in power (both democratic and military regime) and its influence on economic growth persuades to conduct a qualitative analysis of the structural transformation on the disaggregated level to determine whether or not it has any connection or impact on different sectors of the economy. The fundamental objective of this study is to (a) explore how sectoral transformation has affected economic development and employment, as well as their relationships, and (b investigate how these dynamics have impacted the generation of sustainable employment in the economy. For this reason, the study takes sectoral transformation into account. The study applies the sectoral employment Elasticity technique for this objective. The results of our evaluation indicate that the economy functions better under military regimes than it does during democratic periods. The cause might be anything, but our goal is to determine the employment elasticity of Pakistan's main political powers. As an agriculture-based economy, most of the population relies on the agriculture sector; hence, its decline highlights the need for reforms. If this sector doesn't grow by creating additional jobs, it will lose its employment power. [ABSTRACT FROM AUTHOR]

Triggering economic growth is a requirement to promote human welfare and realize sustainable development in many developing countries. However, place-based policies' impact on economic growth is debatable, and its underlying mechanism is unknown. China's Old Revolutionary Development Program (ORDP) is a large-scale and novel type of place-based policy targeted at undeveloped regions in China. We evaluate the effect of ORDP on economic growth by employing a time-varying difference-in-differences model and further explore the potential mechanisms and heterogeneity effects. VIIRS/DNB nightlight data is used to measure economic growth. We find that ORDP can significantly promote economic growth by 4.0% and the result is still robust after several tests. Mechanism analysis shows that ORDP can improve economic growth through government intervention, industrial structure optimization, and information infrastructure construction. Heterogeneity analysis indicates that the ORDP performs better on economic growth in central Chinese cities and high-economy cities. At the same time, our paper provides three practical suggestions for stimulating economic growth in ORDP, which can be enlightening for other developing countries. [ABSTRACT FROM AUTHOR]

Background: To vigorously promote the integrated development and mutual adaptation of agriculture and logistics is an important way to realize agricultural modernization and rural revitalization. Along with the policy support of agricultural industry chain and the steady rise of the demand for agricultural products market, the total amount of agricultural product logistics continues to increase, and the growth rate remains stable. With the booming development of "Internet + agriculture" and e-commerce platform, agricultural logistic market welcomes a new round of development opportunities, reaching several trillion yuan. Compared with the developed countries, our agricultural product logistics is still far behind. At present, only 15% of vegetables and fruits and 30% of fresh meat have professional logistic transportation, while most of the rest are still in the state of local and primitive. The gap of logistic environment construction and logistic elements determines the difference in final benefit of agricultural products. The purpose of this study is to find out the influence of logistic elements on regional agricultural economic growth, and whether the influence between neighboring regions presents "the same prosperity", "the same loss" or "sharing weal and woe". Methods: Based on the panel data of the statistical yearbook of 31 provinces in China from 2005 to 2020, the spatial Durbin model was constructed under the spatial weight matrix of economic distance and economic geographical distance to conduct empirical analysis, and the internal factors of logistics industry, factor spillover effect and its impact on agricultural economic growth were studied. Results: Results showed that: (1) considering economic distance factor, the spatial coefficient of the time-fixed effects model passed the significance test in eastern China. Considering economic geographic distance factors, the individual and double fixed effect models passed the significance test in central China, and all models passed the significance test in western China. (2) From the perspective of logistic infrastructure, AVLFA, HM, TN and RM had a positive effect on the growth of agricultural economy in eastern China, but LIAV is on the contrary. AVLFA had a positive effect on agricultural economic growth, but TN was on the contrary in central China. In western China, LIAV and TN promoted agricultural economy while HM and RM held back it. From the perspective of the volume of logistics activity, both eastern and central regions did not pass the significance test, but FA was tested by the double fixed effect model and showed negative in western China. From the perspective of control variables, FU, AO and PT all promoted agricultural economy in eastern China, and FU and AO did the same in central and western China. PT was invalid in central regions and hindered agricultural economy in western China, which was different. Conclusion: From the perspective of spatial spillover effect decomposition, the eastern region presents "one prosperity and all prosperity, and sharing weal and woe", while the central and western regions present "one prosperity and all prosperity, and one lost and all lost". At last suggestions as formulating the overall plan for the development of regional logistics, paying attention to regional differences and promoting coordinated development of logistics and agriculture in light of local conditions, and paying attention to the spatial spillover effect of elements were put forward. [ABSTRACT FROM AUTHOR]

Our study uses a small area estimation method to estimate the average and inequality of per capita kWh consumption for small areas in Vietnam. It shows evidence of a large spatial heterogeneity in the electric power consumption between districts and provinces in Vietnam. Households in the mountains and highlands consumed remarkably less electricity than those in the delta and coastal areas. Notably, we find a U-shaped relationship between the inequality of electricity consumption and economic levels in Vietnam. In poor districts and provinces, there is very high inequality in electricity consumption. Inequality is lower in middle-income districts and provinces. [ABSTRACT FROM AUTHOR]

We construct a cohort-based frailty index from age-related health deficits to investigate physiological aging in India over the period 1990-2019. During this period, the Indian states underwent at different speeds the epidemiological transition and experienced unprecedented economic growth. We show that the rate of physiological aging remained remarkably stable to the changing environment. Age-related health deficits increased by about 3 percent per year of age with little variation across states, ages, cohorts, and over time. We find that, with advancing epidemiological transition, health deficits for given age declined at the individual level (within states and within cohorts). Across cohorts born between 1900 and 1995, we show that, for given age, health deficits are higher for later-born cohorts until birth years around 1940 and remained trendless afterwards. We propose a selection-based theory of aging during the epidemiological transition that explains these facts. [ABSTRACT FROM AUTHOR]

Background: Most individuals developing tuberculosis (TB) are working age adults living in low- and middle-income countries (LMICs). The resulting disability and death impact economic productivity and burden health systems. New TB vaccine products may reduce this burden. In this study, we estimated the impact of introducing novel TB vaccines on gross domestic product (GDP) growth in 105 LMICs. Methods and findings: We adapted an existing macroeconomic model to simulate country-level GDP trends between 2020 and 2080, comparing scenarios for introduction of hypothetical infant and adolescent/adult vaccines to a no-new-vaccine counterfactual. We parameterized each scenario using estimates of TB-related mortality, morbidity, and healthcare spending from linked epidemiological and costing models. We assumed vaccines would be introduced between 2028 and 2047 and estimated incremental changes in GDP within each country from introduction to 2080, in 2020 US dollars. We tested the robustness of results to alternative analytic specifications. Both vaccine scenarios produced greater cumulative GDP in the modeled countries over the study period, equivalent to $1.6 (95% uncertainty interval: $0.8, 3.0) trillion for the adolescent/adult vaccine and $0.2 ($0.1, 0.4) trillion for the infant vaccine. These GDP gains were substantially lagged relative to the time of vaccine introduction, particularly for the infant vaccine. GDP gains resulting from vaccine introduction were concentrated in countries with higher current TB incidence and earlier vaccine introduction. Results were sensitive to secular trends in GDP growth but relatively robust to other analytic assumptions. Uncertain projections of GDP could alter these projections and affect the conclusions drawn by this analysis. Conclusions: Under a range of assumptions, introducing novel TB vaccines would increase economic growth in LMICs. Author summary: Why was this study done?: Most individuals who develop tuberculosis (TB) are working age adults living in low- and middle-income countries (LMICs), and the resulting disability and death impact economic productivity and burden health systems, but new TB vaccine candidates may reduce this burden. Earlier studies have estimated the impact of individual diseases and health risks on rates of economic growth, but the potential gains to economic growth that could be produced by introducing novel TB vaccines have not been previously estimated. What did the researchers do and find?: In this study, we estimated the impact of introducing novel TB vaccines on gross domestic product (GDP) growth in 105 LMICs, using a macroeconomic model to simulate country-level GDP trends between 2020 and 2080, in 2020 US dollars. We compared scenarios for introduction of infant and adolescent/adult vaccine candidates to a no-new-vaccine counterfactual. Compared to the no-new-vaccine counterfactual, both vaccination scenarios produced greater cumulative GDP in the modeled countries over the study period, equivalent to $1.6 (95% uncertainty interval: $0.8, 3.0) trillion for the adolescent/adult vaccine and $0.2 ($0.1, 0.4) trillion for the infant vaccine. These GDP gains were substantially lagged relative to the time of vaccine introduction and concentrated in countries with higher current TB incidence. What do these findings mean?: This study demonstrates that introducing new TB vaccines could increase economic growth in LMICs. The results of this research could inform decision-making around how new TB vaccines are developed and introduced. [ABSTRACT FROM AUTHOR]

Background: Innovation ecosystems are an important driver of regional economic growth and development. STEM assets connected to universities may play an important role in such ecosystems. Objective: To systematically review the literature relating to the effect of university STEM assets on regional economies and innovation ecosystems, providing a better understanding of how the impact is generated and constrained, as well as identifying any gaps in knowledge. Methods: Keyword and text word searches using the Web of Science Core Collection (Clarivate), Econlit (EBSCO) and ERIC (EBSCO) were performed in July 2021 and February 2023. Papers were double screened on abstract and title, and were included if there was consensus that they fulfilled the inclusion criteria of: (i) relating to an OECD country; (ii) having been published between 1 January 2010 and 28 February 2023; and (iii) concerning the impact of STEM assets. Data extraction was undertaken for each article by a single reviewer and checked by a second reviewer. Due to the heterogeneity of the study designs and outcome measures used, it was not possible to perform a quantitative synthesis of results. A narrative synthesis was subsequently undertaken. Results: Of the 162 articles identified for detailed review, 34 were accepted as being sufficiently relevant to the study to be included for final analysis. Three important features identified were that the literature: i) is predominately concerned with supporting new businesses; ii) describes a high level of involvement with a university in providing that support; and iii studies economic impacts at local, regional and national levels. Discussion: The evidence points to a gap in the literature relating to looking at the broader impact of STEM assets and any corresponding transformational, system-level effects that go beyond narrowly defined, short to medium-term outcomes. The main limitation of this review is that information on STEM assets in the non-academic literature is not captured. [ABSTRACT FROM AUTHOR]

Renewable energy holds a remarkable role in clean energy adaptation due to the much lower carbon footprint it releases compared to other fossil fuels. It also has a positive impact by slowing down the rate of climate change. The study has examined the links between renewable and non-renewable energy use, CO2 emissions and economic growth in developed, developing, and LDCs and Economies in Transition between 1990 and 2019 in 152 countries. Granger-causality has been used as the methodology to investigate the link between the variables. The findings of the existing studies on the relationship between the consumption of renewable and non-renewable energy sources and economic growth are inconsistent, indicating that there may or may not be a relationship between the two factors. Apart from having a few empirical studies so far have examined the link between the above-mentioned variables, analysis has yet to encompass all the regions in the four sub-groups discussed above. The results indicated that no Granger-causal relationship exists between GDP and REC outside of Economies in Transition. Additionally, the GDP and CO2 of all countries have a one-way relationship. Nevertheless, research indicates that GDP and CO2 have a bi-directional link in Economies in Transition, a uni-directional relationship in developing countries, and no meaningful association in developed and LDCs. Therefore, it is essential to emphasise actions to lower CO2 emissions and develop renewable energy while also stimulating the economy. Ultimately, more nations should choose renewable energy sources to build a more sustainable future. [ABSTRACT FROM AUTHOR]

This study explores the causal relationship between the economy and the elderly population in 15 European countries. The economy was measured by the Per Capita Gross Domestic Product growth rate, while the population aged above 65 as a percentage of the total was considered the elderly population. The data were obtained from a time series dataset published by the World Bank for six decades from 1961 to 2021. The Granger causality test was employed in the study to analyse the impact between the economy and the elderly population. An alternate approach, wavelet coherence, was used to demonstrate the changes to the relationship between the two variables in Europe over the 60 years. The findings from the Granger causality test indicate a unidirectional Granger causality from the economy to the elderly population for Luxembourg, Austria, Denmark, Spain, and Sweden, while vice versa for Greece and the United Kingdom. Furthermore, for Belgium, Finland, France, Italy, Netherlands, Norway, Portugal, and Turkey, Granger causality does not exist between the said variables. Moreover, wavelet coherence analysis depicts that for Europe, the elderly population negatively affected the economic growth in the 1960s, and vice versa in the 1980s. [ABSTRACT FROM AUTHOR]

China is in a critical stage of economic growth mode transformation. The digital transformation of the manufacturing industry may create new impetus and new models for economic growth. Taking the manufacturing industry of 25 prefecture-level cities in the Yangtze River Delta region as the research object, we explore the digital transformation process of the manufacturing industry and verifies its theoretical mechanism of promoting economic growth through the industrial structure. A panel model based on the improved Feder two-sector model and a multiple mediating effect model are established to explore the dynamic mechanism of manufacturing digital transformation to promote economic growth through industrial restructuring. The results show that the digital transformation of the manufacturing industry in the Yangtze River Delta region of China is relatively high, and the speed of digital transformation has been accelerating in recent years. The digital transformation of the manufacturing industry can promote the change in industrial structure and form a new driving force for economic growth. The key is to improve the level of industrial structure and extend the length of the industrial chain. Based on these, we propose measures to promote the transformation and upgrading of industrial structure for the sustainable development of China's economy. [ABSTRACT FROM AUTHOR]

Using World Bank and IMF data over the period 1990–2018, this research explores the determinants of economic growth in Bangladesh with particular attention to environmental degradation and export concentration variables. An ARDL (Autoregressive Distributed Lag) bound testing approach is employed as an estimation strategy with FMOLS (Fully Modified Ordinary Least Squares) and CCR (Canonical Cointegrating Regression) for cross-checking the results. The obtained results confirm that CO2 emissions, consumption expenditure, export concentration, remittances, and inflation are the main driving forces for the long-run economic growth in Bangladesh where the effects of the first two variables and the last three variables are positive and negative, respectively. The study also reveals the dynamic short-run relationships among the chosen variables. Environmental pollution and export concentration are found to be the barriers to economic growth; therefore, the country should take necessary steps to mitigate this problem for ensuring long-run sustainable economic development. [ABSTRACT FROM AUTHOR]

The elderly population and economic growth have been a contentious topic among researchers. Regardless of the economic growth rate, the population and its growth have a stimulating influence on economic development. This study aims to explore the relationship between the elderly population and economic growth in 15 Asian countries, based on secondary data gathered from the WDI (World Development Indicators) from 1961 to 2021. This research contributes to filling the empirical gap, capturing the Granger causality concerning the relationship between the elderly population and economic growth in the Asian context in a single study. The empirical findings highlighted a one-way Granger causality from economic growth to the elderly population for India, Japan, Malaysia, and Singapore while vice versa for Bangladesh, China, and Pakistan. Furthermore, for Nepal, there is a two-way Granger causality, while there is no Granger causality for remaining countries. To the best of the authors' knowledge, this study has been the first to investigate the relationship between the elderly population and economic growth for Asian nations, using a lengthy data series and a Granger causality test. The main findings will assist the governments, policymakers, and foreign investors in effective decision-making in this regard. [ABSTRACT FROM AUTHOR]

One of the most important policies of the European Union is regional development, which comprises measures of enhancing economic growth and citizens' living standards via strategic investment. Considering that economic growth and wellbeing are intertwined from the perspective of EU policies, this study examines the relationship between wellbeing-related infrastructure and economic growth in 212 NUTS 2 regional subdivisions across the members of Eu-28 during the period 2001–2020. We therefore analyzed data from 151 Western Europe regions and 61 Central and Eastern Europe regions by means of a panel data analysis with the first-difference generalized method of moments estimator. Our main interest was to determine the degree to which Western Europe regions responded to predictors as compared to Central and Eastern Europe regions. According to the empirical results, the predictors with the strongest influence for Western Europe regions were disposable household income, inter-regional mobility, housing indicator, labor force and participation. For Central and Eastern Europe regions, the largest impact was triggered by the housing indicator, internet broadband access and air pollution. In addition, we determined a relational weighted multiplex between all variables of interest by using dynamic time warping and we introduced topological measures in a multilayer multiplex model for both regional subsamples. [ABSTRACT FROM AUTHOR]

The Belt and Road Initiative (BRI) is a development plan proposed by China that aims to build a new platform for international cooperation and create new drivers of shared development. South Asia is a key area in the Belt and Road Initiative, including eight countries. As the BRI implemented, China's trade with South Asia has been gradually strengthened. This paper explores the influencing factors of China-South Asia trade under the background of the BRI by using Gravity Model of Trade. The results show that economic growth in China and South Asia, increase of savings rate and improvement of industrialization in South Asia has a significant positive effect on China-South Asia trade. While the development gap between China and South Asia has negative effect on China-South Asia trade. [ABSTRACT FROM AUTHOR]

Factor price distortions and resource misallocation are important sources of productivity differences between regions. Promoting the free flow of factors of production is conducive to giving full play to the decisive role of the market in allocating resources, which is crucial to helping a country's economy develop in a high-quality and sustainable manner. This paper proposes a new approach to measuring factor market distortions and establishes the relationship between factor price distortions and a country's economic growth. This paper examines the resource misallocation and efficiency loss of 31 provinces in China from 2004 to 2020, and proposes an analytical framework for resource misallocation among regions, with which the Total Factor Productivity (TFP) and the factor price distortion of provinces in China are calculated. The calculation results indicate that the TFP of China's provinces gradually declines from the eastern coast to the western inland. The resource allocation efficiency in the eastern and central areas is higher than that in the western areas, so is the factor price, and its distortion causes nearly 6% of loss of output value in China. China's economic growth is still reliant on the increase of factor input and technological development and the improvement of resource allocation efficiency has no significant effect on growth. [ABSTRACT FROM AUTHOR]