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India and the Republic of Korea (RoK) are, respectively, the second and sixth largest economies of Asia with significant trade ties since the historic past. India is currently negotiating to upgrade the Comprehensive Economic Partnership Agreement (CEPA) with the RoK, which was operationalized on January 1, 2010. A key area of concern for India has been its increasing trade deficit with the RoK which has more than doubled since 2009–10. This paper aims to analyze the flow of goods, services and investment between the two sides in major sectors of interest in the last decade. Further, it aims to identify barriers to trade and investment for the Indian exporters and areas of improvement in the CEPA and beyond to enhance economic gains for both sides. [ABSTRACT FROM AUTHOR]

Tourism is an important sector that has an impact on the development of a country's economy. Among the main benefits of tourism are income generation and job creation. It is the most important source of wealth in many parts of the country. The national economy can benefit from tourism as long as there is availability for investment to develop the infrastructure that will meet the needs of tourists. Romania has tourist potential to develop coastal tourism and mountain tourism, but also other alternative forms of tourism. The aim of the article is to present the impact of tourism on the economy, especially on income. The paper presents tourism as an excellent potential, a catalyst for economic growth thus representing a key sector at the macro-economic level. [ABSTRACT FROM AUTHOR]

Investor decision behavior in any pandemic, Covid-19 always goes through rationally. In reality or practically, the investment decisions made by millennials (generation Y) are not always rational. The sole purpose of the topic under study is to investigate a spectrum of millennial (generation Y) investors' behavioral factors that affect investment decisions during a pandemic. This study adopted secondary sources for data collection. The secondary data is gathered through published research papers in peer-reviewed journals, scholarly journals, magazines, news, and books, as well as published data from the government. The major findings reveal that millennials (generation Y) financially deal with more confusion and disagreements when dealing with various patterns of informed conduct or behavior in contrast to other generations. Also, if taken a step further, the outcomes imply a much more important aspect regarding investors' behavior, financial investments, and economic growth: that they were all affected by the Covid-19 pandemic. It caused anxiety and uncertainty among players in the market. Behavioral factors and heuristics like the overconfidence and attitude effect, and herding factors are considered to have also influenced investors' decisions. Furthermore, the market behavior factors of price change, market information, past trend, customer preference, and underlying stock fundamentals have an impact on individual investor decision behavior. [ABSTRACT FROM AUTHOR]

Roughly 3 billion citizens remain offline, equating to approximately 40 percent of the global population. Therefore, providing Internet connectivity is an essential part of the Sustainable Development Goals (SDGs) (Goal 9). In this paper a high-resolution global model is developed to evaluate the necessary investment requirements to achieve affordable universal broadband. The results indicate that approximately $418 billion needs to be mobilized to connect all unconnected citizens globally (targeting 40–50 GB/Month per user with 95 percent reliability). The bulk of additional investment is for emerging market economies (73 percent) and low-income developing countries (24 percent). To our knowledge, the paper contributes the first high-resolution global assessment which quantifies universal broadband investment at the sub-national level to achieve SDG Goal 9. • Over one third of the global population remain unconnected. • A high-resolution global model is developed to evaluate necessary broadband investment. • $418 billion needs to be mobilized to connect all unconnected citizens globally. • The baseline targets 40–50 GB/Month per user with 95 percent reliability. • Universal broadband assessments must be explicit about capacity and Quality of Service. [ABSTRACT FROM AUTHOR]

The paper aims to identify how to approach sustainable development in regional development strategies, having as a case study the North-East Region, and to evaluate how to implement strategic objectives, at regional and rural level. The document aims to identify new strategic proposals to ensure the sustainable development of rural areas, using a system of specific, quantifiable and representative indicators that allow, through econometric analysis, the evaluation of results and the projection of sustainable development developments. The approach of sustainable development and rural development in a strategic context had above all a theoretical character, the analysis being oriented towards: the delimitation of the different conceptual aspects regarding the sustainable development and the strategies of sustainable development; addressing rural development from sustainable development; regulations on sustainable development at global, European and national level, etc. The paper thus highlights, starting from the analysis of regional development strategies of the Northeast Region, solutions to improve the process of strategic implementation of development objectives, by providing viable tools for monitoring development, sustainable development at regional and rural level, eliminating their trends disproportionate. The target indicators proposed by this document and their justification allow such a realistic and accurate estimation of the strategic implementation and the measurement of the impact of the strategic objectives. At European level, concerns about incorporating the principles of sustainable development into Member States' development strategies emerged with Agenda 21, but the approach was fragmented and policy implementation was inconsistent in trade, investment, technology and sustainable development. [ABSTRACT FROM AUTHOR]

In order to study the influence of infrastructure investment to economy in the interior of China and the coastal areas, this paper uses qualitative analysis and empirical analysis to demonstrate the both the relationship between infrastructure investment and regional economic development in China and the divergence between coastal and inland areas. Compared with other regions, China's coastal zone economy is highly extroverted and open. Coastal zone plays an important role in national sustainable economic development strategy. Based on qualitative analysis, this paper firstly establishes a cooperative game model to qualitatively and horizontally analyze the differences and complementarities between central and local governments in regional infrastructure investment. Empirical analysis is adopted to discuss various kinds of infrastructure construction investment at the national level. In the conclusion, preliminary policy recommendations are put forward. [ABSTRACT FROM AUTHOR]

The exposure and vulnerability of financial markets in developing countries have been at center stage of empirical debates in recent time. The crux of the debate is not whether the financial system is isolated or not but the extent of such exposure. As an attempt to investigate the Nigerian exposure to external shock, this paper investigates the impact of foreign portfolio investment on the stock market between the study period of 1980 and 2014. Data for the study were sourced from the statistical bulletins published by the Central Bank of Nigeria. A model that captures the fundamental drivers of stock market development was built while the time series properties of the variables were examined using Augmented Dickey Fuller and Johansen co-integration tests. In view of the results of the pre-estimation tests, the Error Correction Modeling approach was used to estimate and examine the relationship between foreign portfolio investment, stock market development and other variables such as economic growth, exchange rate and inflation rate. The results show that there was a significant positive long run relationship between foreign portfolio investment and stock market development. It was also found that the level of domestic economic activities, exchange rate and inflation rate were other key fundamentals dictating the momentum of investment flow and direction of stock market development in Nigeria. The lagged error correction term (ECMt-1) is -0.012 indicating that the speed and time to full adjustment from short run shock to long run stability is low. The paper concludes that portfolio investment is a major driver of stock market development and more importantly, the main channel through which external financial instability is transmitted into the Nigerian economy. The policy implication is that increase in the foreign portfolio investment increases the domestic stock market performance. This could however lead to a great instability and financial distress if the enabling domestic macroeconomic conditions and policy framework to insulate the stock market against the vagaries of external shocks are not properly coordinated. [ABSTRACT FROM AUTHOR]

The aim of this paper is to evaluate the impact of FDI along with domestic physical investment and human capital on the regional income, and their role in the regional income convergence within the Czech economy over the periods from 1998-99 to 2013-14. The paper considers 14 regions of the Czech Republic and uses panel fixed effect regression and dynamic panel growth framework for the empirical analysis. The result finds that the role of physical capital formation and FDI along with the human capital are crucial for the regional disparity in income in the Czech Republic. There is also evidence of the convergence of per capita income at the speed of 7.8 per cent among the regions by conditioning physical investment and human capital along with FDI. This paper suggests that regional disparity in income can be reduced by the equitable allocation of investment and FDI, and equal development of human capital. [ABSTRACT FROM AUTHOR]

This paper examines the impact of economic policy uncertainty on economic growth due to its effects on firms' investment decisions, which subsequently justify firms' financial constraints. Using a sample of Chinese listed firms, the study documents that economic policy uncertainty reduce firms' financial constraints. The reduction in financial constraints stems mainly from the decrease in investments which increases the firm's cash holding. Additional tests reveal that the reduction in firms' financial constraints is pronounced more among non-politically connected firms compared to their counterparts. Further tests reveal that a reduction in a firms' financial constraints is of a short-term nature. In the long run, economic policy uncertainty increase firms' financial constraints. The study recommends that changes in policies must be done carefully to avoid turbulence and friction in firms' investment decisions. [ABSTRACT FROM AUTHOR]

This paper develops a model to illustrate how human capital investments made by the defense sector impact economic performance. Emphasizing the on-the-job accumulation of human capital during military service, the model demonstrates the effect of investments on the accumulation of human capital and output of the defense sector, whose military good has a spillover effect on general production. Calibrated with data from the United States for the years 1949 to 2014, investments are shown to positively impact both the accumulation of human capital and economic growth. The measured benefits are seen to be lower than investments made into formal education. [ABSTRACT FROM AUTHOR]

Objective - Islamic Financial Institutions (IFIs) are founded upon principles of encouraging economic wellbeing for the betterment of society. Despite this, fresh measures are required to ascertain the sustainability of IFIs due to the deterioration recorded in annual rate growth levels that has slumped to 8.2% in 2016, compared to 24.2% in 2011. Similarly, waqf, which aims to contribute to socio-economic growth, appears to underperform due to inefficient management and lack of resources from State Islamic Religious Councils (SIRCs) in Malaysia. Therefore, growing attention is given to adding value to related operations so as to continuously expand without undermining their obligation towards societal welfare. Methodology/Technique - In responding to this issue, Value-Based Intermediation (VBI) through a cross-sector collaboration strategy has been proposed in this paper to streamline the investments of IFIs in executing their business responsibilities in a strategic manner, especially to generate sustainable socio-economic growth through waqf development projects. Nonetheless, in order to strategically perform in project collaboration for sustainability, strong commitment from IFIs and SIRCs is needed. Findings - A significantly positive relationship was discovered between the independent variables (affective commitment, normative commitment, and continuous commitment) and organisational sustainability. Novelty - The paper concludes with an assumption of the readiness of both organisations in effectively developing waqf projects, along with several recommendations for future studies in further contributing to the success of waqf development which will contribute to organisational sustainability. [ABSTRACT FROM AUTHOR]

In recent past, Sino-Afghan relations have taken a new phase of collaboration and inter-dependency to work jointly to advance their common geo-strategic and geo-economic goals. Being an international power on the global chessboard, China does have a great role in the regional geopolitical setting to ensure peace and tranquility in the region on the one hand and prioritize its own interests on the other. Afghanistan, being an epicenter of the region, draws a special attention of neighboring countries especially China to address threat perception emanating from cross-border terrorism, drug trafficking and promoting insurgency in its region of Xinjiang. This paper attempts to analyze the scope of bilateral collaboration between China and Afghanistan. The paper also intends to ascertain whether Afghan leadership will be wise enough to use Chinese assistance as a trap card to utilize their geographic setting in such a manner in which both Chinese and Afghans can benefit and also to ensure their cooperation for longer period of time for peaceful and prosperous Afghanistan. [ABSTRACT FROM AUTHOR]

Many natural-resource-abundant countries have established petroleum funds as part of their strategy to manage their resource wealth. This paper examines reasons that such funds may be established, discusses how these funds are organized, and draws some policy lessons. The paper then develops a theory of how petroleum funds may affect the economic and political equilibrium of an economy, and how this depends on the initial institutions. A challenge with petroleum funds is that they may produce economic and political incentives that undermine their potential benefits. An alternative to establishing petroleum funds is to use revenues to invest domestically in sectors such as infrastructure, education, and health. Such investments have the potential to produce a better economic, as well as institutional, development. This is particularly the case if the initial institutions are weak. [ABSTRACT FROM AUTHOR]

The paper presents a methodical approach to the assessment of agricultural sector transformation in the conditions of intensive penetration of digital technologies into the economy sector. The authors offer a schematic diagram of data collecting and processing in the start-to-finish automated production-andmarketing chain of activity within the agricultural sector. The achievement of these goals will allow increasing the agricultural sector contribution into russian economy, to boost export revenue, and to schedule and aggregate data streams for creation of start-to-finish chains and technologies, from the agricultural production stage to consumption, with a deep integration into allied industries of digital economy. [ABSTRACT FROM AUTHOR]

The domestic credit is one of the essential indicators of a national economy. In this context, the paper aimed to analyze the credit influence on the national economy and its effects on the economic development. Also, an important part of the domestic credit is represented by the market of leasing credits, alongside the investment credits or the mortgages. Their evolution is presented in detail in this paper. As a conclusion, the increase of the domestic credit helped at the formation of a stability at a macro-economic level, contributing to maintaining an economic growth and an economic recovery after a difficult period. [ABSTRACT FROM AUTHOR]

The purpose of the paper is to study the regional investment strategy development based on the identified strategic priorities for its development. Methods of the problem under research include statistical and methods of system and logical analysis, comparative and retrospective methods, methods of analysis and synthesis, methods for conjugate effects accounting. The paper presents the study results of the regional investment activities strategic priorities, taking into account its investment environment functioning features. The conducted study is based on the most important strategic documents, reflecting the long-term goals of regional development. In order to justify the possibility of implementing the strategy, the conditions for implementing investment projects aimed at the regional infrastructure developing and its socio-economic development indices improving are considered. The studies were carried out on the analysis basis of the major national economic complexes investment structure in the region. The paper also presents the region's target state indicators in the context of various forecast scenarios for its development, which include inertial, basic and optimistic ones. At the same time, a basic scenario aimed at overcoming resource constraints is considered in the context of the regional economic complexes. The conclusions are made on the compliance of the regional investment activities' strategic priorities with the potential for its development. The paper materials are of practical value for specialists engaged in the development, analysis and implementation of the regional investment strategy. [ABSTRACT FROM AUTHOR]

Following the argument of urban geographers that "superstar" cities are the engines of economic growth in a globalized era, Kremlin advisor Aleksei Kudrin and others have argued that Russia should invest in a handful of major cities including Moscow and St. Petersburg. That advice has now become part of official government planning. In stark contrast to the developed world, however, Russia's population is not concentrated in a few urban centers, but in several hundred medium-sized cities and towns, many distributed across Russia's vast territory, often far from other metropolitan agglomerations. These include more than a hundred officially-designated "monotowns," whose fate is dependent on a single industry, which the government ranks according to the severity of their "socio-economic conditions." This paper will explore the dilemmas faced by monotowns in particular, and the challenge to authorities of balancing the need for new economic growth from urban metropolises against preventing social unrest in declining industrial communities. [ABSTRACT FROM AUTHOR]

China–Pakistan Economic Corridor (CPEC), a key artery of China's Belt and Road Initiative (BRI), has attracted the attention of researchers and policymakers within and outside Pakistan. A blend of investment-loan-grant model of over US$ 46 billion, CPEC contains projects aimed at building energy and communication infrastructure and industrial zones. Based on the analysis of primary and secondary data, this study aims to answer two questions: first, what are the main socio-economic or geostrategic prospects of CPEC for Pakistan and China? Second, are there any constraints and challenges in the implementation of CPEC projects and how are these going to be addressed? The paper examines CPEC's potential in bringing about socio-economic development in Pakistan and its financial and geostrategic significance for China. It also explores key constraints related to the fragile security situation and the potential of CPEC to further exacerbate the geopolitical situation in the region, particularly in South Asia, where it could intensify tension between Pakistan and India as the latter perceives CPEC as a Chinese geopolitical and security project. In addition, the long-term financial implications of CPEC are assessed, with particular focus on its potential to become a debt trap for Pakistan in the long run. [ABSTRACT FROM AUTHOR]

This paper highlights the economic situation of Romania's West Region for a period of five years, based on some specific indicators. The most relevant indicators which are part of the analysis of the regional economic evolution are as following: gross domestic product per capita; the turnover; the number of employees in active local units; gross and net investments. Within this scientific paper there was presented a prognosis of gross domestic product per capita, from 2015 to 2017. This macroeconomic indicator gives wide information over the economy in a region. The indicators analyzed in this study recorded oscillations from an year to another which demonstrates that the economy in the West Region is able to develop, but recording different growth rates. In comparison with other regions in Romania, the West Region will distinguish by an industrial branch that gathers almost all the areas. The development of this area is both due to direct foreign investments and qualified employees. An economic leader of the region is Timis country, followed by Arad country. West Region has a big potential of development given to the existent resources, geographic settlement and an entrepreneurial environment that is capable to transform the opportunities in profitable business. [ABSTRACT FROM AUTHOR]

The analysis presented in this paper points out the fact that we need to make fundamental improvements in the Western Region if we want to be able to face the future challenges generated by new investments with a view to increase economic activities, to improve institutional activities, and to make short-term specific investments in both human resources and infrastructure. The authors of this paper have reached the conclusion that the Western Region needs investments in the business environment in both developed areas and underdeveloped areas or unfavoured areas. [ABSTRACT FROM AUTHOR]

By its universal approach, Swedish public housing has traditionally been an instrument to contribute to the national policy aim of "good housing for all". However, the universal approach is under pressure. Demands on competitiveness and a businesslike return on investment means public housing companies are increasingly striving for profit in their everyday business. This paper analyses this development with the strategic-relational approach (SRA) and argues that a new economic imaginary has emerged, which limits the companies' perceived possibilities to retain the universal approach. However, spatio-temporal variations are evident and the findings give evidence to ample actorial discretion for companies to negotiate the economic imaginary in the current political-economic landscape. Thus, the potential to retain the undertaking of "good housing for all" still exists, but it is unevenly actualized. How this discretion is used may be decisive for the future of the universal character of public housing in Sweden. [ABSTRACT FROM AUTHOR]

This paper examines the impact of foreign capital inflows on economic growth in Nigeria for 1980–2015 period. It employs Autoregressive Distributed Lagged (ARDL)-bounds test, and finds a cointegration relationship between foreign capital inflows and growth. Specifically, foreign portfolio investment has positive impact on growth, while the impact of foreign loans is negative. Nevertheless, foreign direct investment and foreign aid have insignificant impact on growth, suggesting that Nigeria cannot rely on foreign direct investment and foreign aid as vehicles to stimulate growth. Rather, an increase in foreign portfolio investment or reduction in foreign loans has beneficial effects on the economy. [ABSTRACT FROM AUTHOR]

The recent experience of macroeconomists in their inability to foresee and avert the prolonged global recession called into question the credibility of their economic theories and models. This paper is an attempt at introspection. The paper reviews the developments in macroeconomic theory and models and offers suggestions on what could have gone wrong with the prevailing macroeconomic theories and models. It suggests that there are dangers in following the mainstream models if such models are not based on empirical credibility in respect of fitting the real-life data they are supposed to explain. It suggests the limitations of statistical methods used in macroeconomic modeling and in the criteria used to establish their credibility and offers some suggestions to overcome those limitations. It brings to the fore the fact that what are now termed institutions "too big to fail" have not been modeled adequately by economists. The paper also suggests the importance of treating economies as open economy models with external sector and as truly dynamic with investment and growth. [ABSTRACT FROM AUTHOR]

The integration of the territoriality principle in the programming period 2014 - 2020 has validated the emergence of local development tools dedicated exclusively to some clearly outlined areas. One of these tools is the ITI. Romania chose to dedicate such a tool in the Danube Delta region. The importance of the research is linked to present a clear image of the framework in which Romania will implement ITI. Identifying the financial allocations in every operational program, correlation between operational programs, projects which will be submitted, the differences between the values of the projects and allocation are representing a clear contribution of the author. The main outcome is that the paper is that is proving that there is a difference between the vision of the implementation of ITI presented by local actors and the programing documents in terms of allocations. The paper is providing a characterization and highlight, in a coherent manner, the risks arising from Romania's decision to use such a tool and implement ITI in the Danube Delta region. The paper in considering the full set of operational programs and the planning documents promoted by local actors dedicated to the implementation of ITI. [ABSTRACT FROM AUTHOR]

The paper deals about a comparison of the banking systems of the countries of the former Yugoslavia with the banking system of the Czech Republic. The aim of this paper is to analyze the specifics individual banking sectors of all former members of the Socialist Federal Republic of Yugoslavia (Slovenia, Croatia, Macedonia, Bosnia and Hercegovina, Serbia, The Republic of Kosovo and Montenegro).The aim of this paper is the comparison of individual banking sectors of all former members of the Socialist Federal Republic of Yugoslavia and the Czech Republic on the basis of selected indicators and characteristics (the comparison of central banks, monetary policy, interest rates, etc.). In comparison the Czech Republic and Slovenia - Slovenia suffered the greatest losses coming after the financial crisis in 2008 and had to take difficult measures in order to help meet capital requirements set (but both in the 90th years did not affect any crisis). Countries like Serbia, Bosnia and Herzegovina, The Republic of Kosovo and Montenegro are highly dependent on economic developments in the European Union. European Union is for these countries a very important trade and investment partner. [ABSTRACT FROM AUTHOR]

A new artwork trading model emerged in China at the beginning of 2010s: the value of a piece of artwork was divided into equal shares, and investors could buy and sell these shares in the cultural artwork exchanges, in exactly the same way as investors trading stocks in the stock market. In China, this trading model, once available, was hotly pursued by investors. This rapid market growth quickly descended into trading market confusion and speculation, forcing the government to deal with this model and eventually putting a stop to it. In this paper, we take a closer look at the reasons for the artwork shares' price booming and slumping, the disorder and speculation in the artwork share trading market, and the reasons why the Chinese government halted this kind of trade. Taking the Tianjin Cultural Artwork Exchange of China as an example, we found that artwork can be an alternative investment vehicle, but the share trading model, similar in function to the stocks and bonds market, is not fit for artwork. The lack of legal basis and supervision by governmental bodies, together with the changeable trading rules has also contributed to the failure of this artwork trading model in China. [ABSTRACT FROM AUTHOR]

Abstract The impact of economic growth on health outcomes has generated various conflicting results in recent years, particularly with the emergence of cardiovascular disease as one of the most salient global health issues. This paper looks at the relationship between economic development and health outcomes. We first estimate an empirical model using data on annual cardiovascular disease mortality in a panel of 27 European countries, over the period 2003 to 2014, together with per capita GDP levels in each country. We also include a number of additional determinants of health outcomes as prescribed by the literature, including various socio-economic, lifestyle and contextual variables. The results show that there is a statistically-significant inverted U-shaped relationship, whereby as income increases mortality rates first rise, before declining at subsequent levels of development. This trajectory persists even after the inclusion of the other determinants of health, as well as other robustness checks. We then seek to explain the persistence of the inverted U-shaped income-mortality relationship using a microeconomic model of consumer choice, with our findings suggesting that this relationship is consistent with a scenario of increasing returns to scale from healthcare investment. The results emphasise the importance of investment in the latest healthcare technologies and continued improvements to public healthcare systems, particularly within developing countries, in conjunction with efforts to boost economic growth. Highlights • Inverted U-shaped relationship between cardiovascular mortality and GDP per capita. • Results robust to inclusion of various control variables and confounders. • Relationship consistent with increasing returns from healthcare spending. [ABSTRACT FROM AUTHOR]

This paper reviews the domestic political and legislative context surround biofuels initiatives to highlight what opportunities exist for establishing a biofuels trade network between South Africa (as an anchor market) and its neighbours, specifically in Zambia and Mozambique. By analysing global developments in major biofuel importers, reasons for policy inertia in South Africa, and recent experiences with biofuels investments, we suggest that the likelihood for a regional biofuels market developing is slender without addressing land-related challenges in producer countries and revising South Africa's domestic legislation. [ABSTRACT FROM AUTHOR]

The aim of this paper is to present a historical series of Colombian GDP from 1888 to 2013. For that purpose we have employed an expenditure approach to reconstruct the GDP for the period 1888-1929. We linked it to the official statistics data of the DANE. The result is expressed in 2011 purchasing parity dollars for international comparisons. [ABSTRACT FROM AUTHOR]

Abstract This paper presents a post-Keynesian ecological macromodel, which is stock-flow consistent, and incorporates directed technological change. Private and public R&D spending across three competing, yet complementary inputs – Labor, Capital, and Resources – follow a portfolio allocation decision, where inputs with relatively higher growth in costs, see higher R&D investment and productivity gains. Two policy experiments are reported; a market-based Resource tax increase, and a centralized green policy, where public R&D budget is shifted towards Resource-saving technologies. We highlight that in the presence of labor market institutions, which give rise to hysteresis, and limited R&D budgets, a policy of continuous Resource tax growth is needed to induce Resource-saving technological change to achieve a greener economy. This needs to be coupled with planned government spending adjustment to spur demand and boost investment. The findings also suggest that a mix of market-based and centralized policies may be optimal. [ABSTRACT FROM AUTHOR]

Highlights • India's emissions and intensity are driven by private consumption, followed by investment and exports. • India's emission increase comes from final demand and production structure changes. • India's increase of household indirect emissions mainly comes from per capita income increase. • India's aggregate embodied intensity by final demand category all increased. • India's aggregate embodied intensity changes mainly determine by production structure changes. Abstract India is the second largest developing country and fourth largest carbon emitter in the world. It has registered the rapid economic growth (7–9%) in the last decade. However, both its total carbon emissions and emission intensity (CO 2 emissions per GDP) kept increasing during period 2007–2013. There are few studies using input-output (I-O) analysis for India's energy/emissions in the literature. This paper tries to fill in the gap by using I-O framework to study India's total emissions and intensity changes and its driving forces with the latest data available and newly proposed techniques. The results show that India's carbon emission were mainly driven by private consumption (50–55%), followed by investment (25–26%) and exports (14–19%). During period 2007/08–2013/14, India's total emissions increased by 56.6%, where total final demand change resulted in emissions increasing and the shift of demand from raw material industry to high-value added manufacturing industry helped to reduce the emissions. When measuring India's relative emission efficiency, its aggregate embodied intensity (AEI) indicator in aggregate was mainly determined by private consumption (47–49%), followed by investment (23–24%) and exports (15–18%). From 2007/08 to 2013/14, the AEI values in aggregate and by final demand category all increased except the AEI of inventory change, mainly caused by production structure change. The emission efficiency improvements helped to reduce India's total emissions and carbon intensity, but the contributions were small. The policy implications of our findings are also discussed. [ABSTRACT FROM AUTHOR]

This paper evaluates the economic impact of the $14 billion preparatory infrastructure investments for the 2010 FIFA World Cup in South Africa. We use satellite data on night light luminosity at municipality and electoral district level as a proxy for economic activity, applying synthetic control methods for estimation. For the average World Cup municipality, we find significantly positive, short‐run effects before the tournament, corresponding to a reduction of unemployment by 1.3 percentage points. At the electoral district level, we reveal distinct effect heterogeneity, where especially investments in transport infrastructure are shown to have long‐lasting, positive effects, particularly in rural areas. [ABSTRACT FROM AUTHOR]

Abstract This paper examines the overall economic growth effect when the growth in finance and real sector is disproportionate relying on panel data for 29 sub-Saharan African countries over the period 1980–2014. Results from the system generalized methods of moments (GMM) reveal that, while financial development supports economic growth, the extent to which finance helps growth depends crucially on the simultaneous growth of real and financial sectors. The elasticity of growth to changes in either size of the real or financial sector is higher under balanced sectoral growth. We also show that rapid and unbridled credit growth comes at a huge cost to economic growth with consequences stemming from financing of risky and unsustainable investments coupled with superfluous consumption fueling inflation. However, the pass-through excess finance–economic growth effect via the investment channel is stronger. [ABSTRACT FROM AUTHOR]

The quality of human resources in a country or region will exert a great impact on its economic development. With the development of high-end science and technology, this impact will become more obvious. However, in terms of China's investment in public education resources in recent years, there is a huge gap compared with developed countries and even the international average level. By summarizing the rapid economic development experience of the United States, Japan and South Korea, this paper studies the role of educational investment in China's economy based on coordinated development theory, and explores the factors that play a central role in China's future economic development. It is concluded that only by increasing investment in education, especially in primary education, and improving the quality of human resources can the economy in country continue to grow. [ABSTRACT FROM AUTHOR]

Large-scale investment projects face significant long-run uncertainty in interest rates. However, little is known about the effect of long-term discount rate uncertainty on capital investment real option values. This paper bridges the long-run discount rate uncertainty literature developed in climate change economics with the financial literature on interest rate models and real options. First, we derive an Ingersoll-Ross real option model under the assumption of a declining discount rate model (DDR) following Gollier and Weitzman, and show how optimal investment timing is affected. Second, we study the problem of an open oil field with an abandonment option. We find that, compared with DDR, standard models using constant or mean-reverting interest rates undervalue projects and their real options to wait or to abandon. Indeed, results under DDR are more consistent with recent evidence on corporate decision-making under incomplete preferences or ambiguity. The results have implications for both energy investment under uncertainty and climate finance. [ABSTRACT FROM AUTHOR]

This paper contributes to the debate on the relationship between public and private investment in India along the following dimensions. First, acknowledging major structural changes that the Indian economy has undergone in the past three decades, we study whether public investment in recent years has become more or less complementary to private investment in comparison to the period before 1980. Second, we construct a novel data-set of quarterly aggregate public and private investment in India over the period 1996–2015 using investment-project data from the CapEx-CMIE database. Third, embedding a theory-driven long-run relationship on the model, we estimate a range of Structural Vector Error Correction Models (SVECMs) to re-examine the public and private investment relationship in India. Identification is achieved by decomposing shocks into those with transitory and permanent effects. Our results suggest that while public investment crowds out private investment in India over the period 1950–2012, the opposite is true when we restrict the sample to post 1980 or conduct a quarterly analysis since 1996. This change can likely be attributed to the policy reforms which started during the early 1980s and gained momentum after the 1991 crisis. [ABSTRACT FROM AUTHOR]

In this paper, we examine the location consulting industry as a set of intermediaries that promote globalization when brokering between a demand for suitable sites for direct investment projects emanating from multinational enterprises and the supply of locations produced by host country governments. We outline three themes composing a research agenda: the nature of the knowledge mobilized by these intermediaries and its implications for the organization of the industry; the role of intermediaries as a neglected aspect of coupling within global production networks, and; the globally uneven contribution of intermediaries in different national political economies. We illustrate these themes empirically drawing on original interview research with location consultants and related companies based in Europe. In conclusion, we note how these intermediaries associated with ‘old’ economic geographical knowledge nevertheless continue to evolve practice in ways that shape the global distribution of investment. [ABSTRACT FROM AUTHOR]

This paper examines the sources of economic growth in Indian economy since the 1980s, with particular focus on the role of information and communication technology (ICT). The impact of ICT on economic growth is analyzed via two main channels. The direct contribution of ICT investment to aggregate economy and manufacturing growth, and the indirect impact of ICT on Total Factor Productivity Growth (TFPG) in ICT using and ICT producing sectors. The results suggest an increasing role of ICT investment in driving aggregate economic growth in India, though largely limited to the service sector. Moreover, the economy has not been successful in spreading the ICT spillover effect across the board, thus limiting the productivity gain from ICT use. Whereas we see an improving productivity growth in ICT using market services and their contribution to aggregate productivity growth, the manufacturing sectors lags quite behind. Indeed, India׳s export oriented ICT sector has helped gain efficiency improvement in its fast growing service economy, while there is still large potential for ICT use in the manufacturing sector. The paper opens further avenues for improving the data on ICT investment, and also stresses the need for more detailed sectoral analysis of the impact of ICT on economic growth, treating computer related and software services separately. [ABSTRACT FROM AUTHOR]

For all countries, agriculture is the strongest factor in the harmonization of economic development. In our country, the agricultural activity also has a significant contribution to the gross domestic product, even though this contribution was down from 36.14% in 1990 to 15.23% in 2014, when the share of this branch was 2.9 times higher than in Romania (5.36%). In our country's agriculture, significant changes have been produced generated by the agrarian reform that "can be efficient only on the condition of the development of market relations". The starting point in the efficient development of any branch of the national economy, of agriculture implicitly, in the market relations conditions, is the emergence of new generations of products, of adequate technologies for obtaining these products, which need significant investments. In this context, the present paper is investigating the current as well as the needed level of investments in the agri-food sector. As a result of the analysis, several proposals that may contribute to the improvement of the current situation are presented. [ABSTRACT FROM AUTHOR]

The objective of this paper is to examine the relationship between fiscal and monetary policy coordination and fiscal multipliers in Argentina, Brazil, Chile, and Mexico. To do so, we first look at the theoretical framework of the New Consensus Macroeconomics (NCM), and then analyze the trends in the four countries for variables including consumption, investment, government spending, and interest rates. Finally, we present an estimate of the spending and monetary multipliers with proxy variables. The contribution of this paper consists of one, showing the inexistence of the crowding out effect, and two, quantifying the multipliers for the aforementioned countries. [ABSTRACT FROM AUTHOR]

This paper presents an analysis of the impediments that arise in the investment process in the Republic of Moldova. Although the investment in agriculture in the period 2009-2015 grew much faster than the investment in the economy and other areas, problems and obstacles that appear relate to several factors. Starting from the decisive role that agriculture plays in the sustainable development of the Republic of Moldova's economy, addressing the problems that hinder its development, in terms of investment, is very important as Agriculture and Food Industry in the Republic of Moldova are the most important sectors, designed to contribute to the increase of our economy. Thus, the need to assess the existing impediments in the investment process of the agricultural sector defined the topic of our research. [ABSTRACT FROM AUTHOR]