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World social development has arrived at a critical turning point. Economically advanced nations have made significant progress toward meeting the basic needs of their populations; however, the majority of developing countries have not. Problems of rapid population growth, failing economies, famine, environmental devastation, majority-minority group conflicts, increasing militarization, among others, are pushing many developing nations toward the brink of social chaos. This paper focuses on worldwide development trends for the 40-year period 1970-2009. Particular attention is given to the disparities in development that exist between the world's "rich" and "poor" countries as well as the global forces that sustain these disparities. The paper also discusses more recent positive trends occurring within the world's "socially least developed countries" (SLDCs), especially those located in Africa and Asia, in reducing poverty and in promoting improved quality of life for increasing numbers of their populations.

The endeavor to implement the 2030 Agenda of national and international stakeholders became increasingly impetuous, considering the wide range of uncertainties and risks. The new humans-centered development model built on the prominence of environmental and social values seeks to reinforce communities' resilience and mitigate environmental risks, leaving no one behind. For this to happen, solid and effective institutions, the right environmental policies, and a safe statutory labor framework are the sine qua non. In this study, we evaluated the effects of informality, institutional quality, and renewable energy consumption on ecological footprint of two groups of emerging countries from Europe and Asia from 2002 to 2018. Our results by PMG-ARDL approach highlight dissimilarities between the two groups, showing greater heterogeneity. In this sense, informality is found to have positive and significant effects on ecological footprint in the long run in emerging European countries. In contrast, the effect is negative for emerging Asian countries. In the short run, the effects are less critical in the studied countries between the two groups. Institutional quality variables impacted environmental quality differently. In this sense, it is detrimental for policymakers to consider concerted measures to decrease institutional vulnerabilities and reduce the level of the informal economy. The outcome of this study concurs with a complete awareness of the importance of informality and institutional quality to mitigate social and environmental risks conjunctively., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2023 Elsevier Ltd. All rights reserved.)

This paper examines the importance of trade openness for attracting Foreign Direct Investment (FDI) inflows, using a sample of 36 developing economies for the period 1990-2008. It provides a direct test of causality between FDI inflows, trade openness and other key variables in developing regions of the world: Latin America, Asia, Africa, CIS (Commonwealth of Independent States) and Eastern Europe. Trade openness is measured by using eight different indicators. The main empirical findings of the panel regression analysis reveal that in the long run, trade openness contributes positively to the inflow of FDI in developing economies.

Asia is the world's largest and most culturally diverse region. Consisting of some 53 independent nations with a combined population of more than 3808 million persons--59% of the world's total population in 2005--patterns of social and economic development in the region have been comparatively slow, especially with respect to rates of economic expansion, protection of human rights, environmental protection, and the extension of social protections to the region's historically vulnerable population groups--including women, children, the aged, persons with disabilities and others. Continuing high rates of population growth, in combination with long-standing internal and intra-regional conflicts, compounds the difficulties experienced by Asian leaders in achieving more ambitious development objectives. This paper reports on the Asian region's social development successes and challenges for the 35-year period beginning in 1970. Data are reported at three levels of analysis: (1) for the region-as-a-whole; (2) for each of Asia's four major subregions; and (3) for 45 of the region's most populous countries. The picture that emerges from this analysis is that, for the region-as-a-whole, Asia's development remains both asynchronous and heterogeneous, i.e., inconsistent and uneven development across a broad range of inter-dependent socio-economic sectors. Some nations within the region, however, realized extraordinary social progress during the period studied and the lessons they offer may provide important insights into the development strategies adopted by other nations both within and outside Asia.

Suggests that the rise of democracy was the most important development of the 20th century, examining the question of democracy as a universal value by focusing on: India's experience with democracy; democracy and economic development; the functions of democracy; universality of values; and cultural differences in values. Concludes with a discussion of where the debate belongs. (SM)

Two reports on higher education in Africa, Asia, and Latin America are the basis for an examination of the potential and problems of higher education in developing nations in the southern hemisphere. Ways to improve higher education in these areas using north-south university cooperation are suggested. (Author/MSE)

Objective: The objective of this paper was to analyze the bidirectional relationship between financial development and economic growth for a dataset of Latin American and Asian developing countries between 2001 and 2019. Method: This research employed an empirical approach to analyze the statistical relationship between financial development and economic growth, by presenting an estimation of a system of simultaneous equations for a panel of Asian and Latin American countries using 3SLS. Main Results: The results presented in this research provided evidence that financial development does not appear to have a significant impact on economic growth, although growth appears to have a significant and positive influence on financial development. Moreover, the results also suggested that regulatory quality and domestic credit directed to the private sector have a positive effect on economic growth, while urbanization and education showed a negative influence on growth. The estimated model also indicated that urbanization has a positive influence on financial development while foreign direct investment presented a negative effect on the development of the financial sector. Relevance / Originality: Most of the research agenda on the topic of finance and growth has focused on identifying correlation or causality between these variables, with little attention given to the simultaneous relationship between them. This is still a clear gap in economic literature. Following this premise, the objective of this paper was to analyze the bidirectional relationship between financial development and growth by estimating a system of simultaneous equations using the Zellner and Theil’s (1962) 3SLS methodology. In this sense, the main contribution will be given empirically, based on data and analysis from emerging countries in Latin America and Asia. The fact that financial development has an influence on growth and growth plays a role on the development of the financial sector indicates a simultaneous relationship between these variables. Another relevant contribution is to update the debate on financial systems and economic development for emerging countries, highlighting institutional aspects and financial cycles. Theoretical / Methodological Contributions: The main contribution of this study is in the empirical strategy, whose results dialogue with part of the literature on the financial system and development presented along the text. That is, this research explored the statistical relationship between economic development and financial development for a sample composed by twenty-two Asian and Latin American emerging countries, using a simultaneous equations model. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to do a thorough literature review to assess the current status of corporate sustainability (CS) practices, issues and challenges in small and medium enterprises (SMEs) and based on literature suggest a model that can improve and strategically manage their sustainability practices in the emerging market context of Asia. Design/methodology/approach: After setting the theoretical background on why the corporations need to shoulder the responsibility of sustainable development, the authors did a high level literature review to estimate the gap area and based on the findings formulated some research questions on why the SMEs, more specifically those in Asian emerging market, are lagging behind in terms of CS practices. Next, using the "literature survey" as the methodology the authors did a thorough in-depth literature review to answer the above research questions and organised the findings in light of those research questions. Considering the research gap and the crucial role of SMEs in a country's economic progress the authors restricted the literature search on CS in the case of SMEs only. Findings: CS is a well-practiced area in big organisations. However, the literature suggests that in the case of SMEs the situation is different. Social and environmental practices are grossly neglected in SMEs more specifically in emerging markets. Existing literature mentions that collaborative mode of operation, government policy and facilitation, supporting organisation culture can positively influence SME's sustainability performance, and hence, improve their financial performance. Research limitations/implications: The conceptual model has been developed based on suggestions and recommendations in western countries context. To establish the validity of the model in the Asian business scenario it needs to be tested with a sizable sample of SMEs in the Asian market. Practical implications: The current paper has practical implications both for academic research on sustainable development and also in business development. The proposed model in the current form is based on the literature survey only. Once such a model is empirically established this can be proved beneficial for providing guidance to SMEs to enhance the sustainability of their business operations. Moreover, environmental and social best practices adopted by SMEs will also have a positive influence on society and the environment in the long run. Originality/value: This paper had done a country-wise comparison of sustainable practices in SMEs and based on the recommendations and suggestions of different scholars as found in the detailed literature review, the authors developed few research propositions and also presented a conceptual model. Finally, to address the gap it mentions some future research possibilities to test and validate the proposed model in the context of SMEs in emerging markets of Asia. [ABSTRACT FROM AUTHOR]

Income inequity and energy consumption have become important issues for sustainable development, and digitalization offers unlimited potential for bridging the income gap and decreasing energy consumption. Based on an international perspective, we confirm the impact of income inequality on energy consumption in 108 countries from 2000 to 2019 and then explore the moderating and threshold effects of digitalization on the impact of income inequality on energy consumption. The empirical results indicate that income inequality causes a surge in energy consumption, and the dynamic SYS-GMM results suggest that for every 1 unit increase in income inequality, energy consumption increases by 0.003 unit. The moderating effect suggests that digitalization helps mitigate the impact of a 3.654% surge in energy consumption caused by income inequality. In comparison, digitalization has a significant moderating effect on energy consumption in middle- and high-income countries (Europe, the Americas, and the Asia-Pacific region), and the moderating effect of digitalization is effective in both free and non-free economies. The dynamic SYS-GMM threshold panel models reveal a non-linear relationship between income inequality and energy consumption affected by digitalization. This provides international evidence that reveals the underlying mechanisms of digitalization, income inequality, and energy consumption. It will better guide countries in harnessing digital dividends to overcome the twin dilemmas of the income gap and energy poverty., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2022 Elsevier Ltd. All rights reserved.)

The paper aims to empirically assess the effects of technological spillovers on economic growth and to examine the roles of host country absorptive capacity. The empirical analysis was carried out at the country level on a panel of five Asian countries covering the period from 1972 to 2018. As the variable of interest (technological spillovers) and mediator variable (absorptive capacity) are captured with a variety of indicators, hence two empirical models are estimated with different specifications. The study's findings indicate that technological spillovers through all three channels have a positive effect on economic and TFP growth. Touching on the role of absorptive capacity in technological spillovers and economic growth nexus, study findings reveal that the human capital of the sample countries has no significant role to absorbed imported technology in the growth process of the host country. However, the empirical indication illustrates that a country holding comparatively more domestic R&D expenditure yields the potential gain of technological spillovers in economic growth., Competing Interests: The authors have declared that no competing interests exist., (Copyright: © 2022 Haq et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.)

The structure of fiscal expenditure in China has been suffering from over-reliance on a single type, while synchronisation and coordination with economic growth are lacking. This paper studies and analyses fiscal expenditure and green from a theoretical perspective. There is a close link between the structure of fiscal expenditure and green economic growth, and a reasonable and appropriate selection and allocation is conducive to promoting the overall development level of China, while financial resources input is a key consideration in optimising the structure of fiscal expenditure. This paper proposes hypotheses and establishes a regression model after an in-depth study of fiscal expenditure in a provincial economy in Asia in the light of domestic and international literature. Through empirical analysis, a green GDP reflecting economic growth and environmental pollution is synthesised using the principle of output per unit of pollution, and the impact of fiscal expenditure structure on green economic growth in China is empirically tested., Competing Interests: The authors declare that they have no conflicts of interest., (Copyright © 2022 Chi Gong and Yizi Wan.)

Today, the developing economies continue to tackle the penalties of the energy use and its influence on their environmental and socio-economic prosperity, and the developed economies are concentrating on promoting programs and policies to improve and sustain the endowment of adequate energy consumption that pledges less carbon emissions and threats to human health. Currently, millions of people face a dearth of access to reliable, affordable, and clean energy to fulfill their daily requirements. Thus, the mounting need for energy use portends hazardous consequences on human health. This paper investigates the transmission channels and impact of energy consumption on health outcomes in Asia by adopting a panel of selected Asian economies for the period from 1991 and 2019. The findings of the study show that energy causes a rise in infant mortality rate and a reduction in life expectancy. Furthermore, the study found that a high degree of pollution emissions causes a rise in infant mortality and a decline in life expectancy., Competing Interests: The authors declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest., (Copyright © 2022 Zhang, Chen and Li.)

Recent studies regarding the impacts of technology spillover and international trade have gained momentum in the emerging economies. Empirical evidences show that some countries gain and other loss to grasp the opportunities of international trade and technological innovation to compete in the global market. This paper examines the effect of export and technology on the economic performance of emerging Asian countries, using the Generalized Method of Moments (GMM) model between the periods 2000–2016. Following the Solow economic growth model, the result identifies a positive and significant effect of export and technology on the economic growth of the emerging Asian economies. Similarly, the long-run estimation ascertains the significant and positive impacts of trade and technology on the economic growth of the countries. The results are robust using alternative dynamic panel models, representing the pivotal role of export and technology to the economic growth of the countries. Thus, we recommend policymakers to device attractive policies that can enhance the advancement of technology and trade to maintain sustained economic growth. This would also fasten the internationalisation process and enable to compete efficiently in the global markets in terms of quality of exports and standardisation. [ABSTRACT FROM AUTHOR]

We are pleased to announce the Special Issue on the New Challenges in Asian Capital Markets in the International Journal of Financial Studies. The focus of papers in this Special Issue is on the future challenges and/or future developments Asian Finance. In addition, one article provides a review of the literature on certain issues in relevance to the banking and capital markets in Asia. This Guest Editor's note synthesizes the contributing authors' propositions and findings regarding these challenges and developments and hopes that opens new venues for future research directions. [ABSTRACT FROM AUTHOR]

The paper presents a nonconforming view about corruption and an approach to its 'cure'. It seeks to explain the anomalous situation that despite pervasive corruption and weak institutions, countries in Asia attracted a flow of foreign investment and achieved a remarkable economic growth and reduction in poverty. Countries in Africa have not done so well. The paper posits that the main difference in the corruption characteristics between the two regions is that in Asia corruption is part of the fixed cost and in Africa it is in the variable costs and consequently has less distortionary effect on investment and economic growth in Asia. Corruption becomes part of the fixed costs when it has a governance structure based on relationships. Although corruption and violent criminality are often correlated, many involved in corrupt governance structures are not evil. The leaders are implicated as enablers of corruption. A further premise is that corruption is an emotional disorder and difficult to cure. The paper outlines modern grouppsychoanalytic process to governance and to reorient corruption based on the hypothesis that the human drives, both positive and negative, that bring into being 'good enough' government and a cohesive country are the same forces that act as agents of corruption and as a safeguard against it. [ABSTRACT FROM AUTHOR]

Based on the calculation of the inclusive financial development level of 22 provinces and 4 municipalities in China from 2004 to 2017, this paper uses the Kernel density estimation method to further analyze the evolution of the inclusive financial index. Based on the above analysis, we make empirical analysis of the impact of China's inclusive financial inclusion development index on farmers' entrepreneurship using static panel and dynamic panel estimation method. The empirical conclusions show that there are certain differences in inclusive financial inclusion development level in various provinces in China. Improving the inclusion development level of inclusive finance can better promote farmers' entrepreneurship. Urbanization level, economic openness and regional economic development level have a significant positive effect on farmers' entrepreneurship, while farmers' income and education level have a significant negative effect on farmers' entrepreneurship. It is possible to promote farmers' entrepreneurship by improving the inclusive development level of inclusive finance, combining urbanization, increasing government investment in productive fixed assets, increasing economic openness and improving regional economic development. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to investigate the relationship between the financial inclusion index and development variables in the least developed countries in Asia and Africa by using annual data of 42 countries for the period 2000–2019. The pooled panel regression and panel data analysis technique are used to explore this relationship. The empirical finding indicates that economic growth leads to financial inclusion. Unemployment and literacy rates are among the factors contributing to financial inclusion, and it is observed that women are more vulnerable than men are to lack financial inclusion. In less developed countries, the economy relies heavily on agriculture, and people are less financially inclusive when they live in rural areas of these countries. Also, pay inequality reduces financial inclusion rates and has a negative impact on development. The low financial inclusion rate reduces the levels of development in these countries. The results of this study can lead to the development and empowerment of vulnerable groups in the studied countries. In order to improve the conditions for development, policymakers should consider policies that enhance literacy, eliminate gender inequality and increase pay equality. [ABSTRACT FROM AUTHOR]

Although Asian economies have registered strong economic growth over the last few decades, their growing pollution emissions raise concerns among the policymakers about the sustainability of this output growth. This paper tests the causal relationship between economic development, energy consumption, trade openness, financial development, FDI, government expenditures, institutional quality. and pollution emissions for 41 Asian economies from 1996 to 2015. Further, we separately test the impact of political and economic institutions on pollution emissions of the sample economies. Our estimated outcomes, based on the panel cointegration method and panel vector error correction models (VECM), substantiate the presence of a cointegration relationship among all the selected variables. While economic development, energy use, trade openness, and FDI augment environmental degradation, financial development and better economic institutions help the selected countries in reducing their pollution emissions. Moreover, better economic and political institutions also mediate the adverse impact of income, trade openness, and FDI on pollution emissions. The VECM model shows that per capita GDP is the only variable having a causal effect on pollution emissions in all the models. For all the other variables, the causal effect is significant only in a few cases. These outcomes have some important policy recommendations for the sample economies., (Copyright © 2020 Elsevier Ltd. All rights reserved.)

Highly skilled diasporas are increasingly being recognized as valuable transnational resources for the economic development of their respective home countries. This study investigates the macro-level forces that have driven the spatial distribution of the highly skilled diasporas of five ASEAN countries, namely Indonesia, Malaysia, the Philippines, Singapore and Thailand. In this paper, seemingly unrelated regressions (SUR) are developed, based on the augmented gravity model of migration. The findings reveal that diaspora stocks, market size, and development level in the destination country are significant determinants. To benefit from the heterogeneity of diasporic resources, the ASEAN-5 countries should establish collaborative mechanisms to mobilize their collective pool of diasporas for economic development. [ABSTRACT FROM AUTHOR]

Water distinguishes our planet as compared to any or all the others we tend to recognize regarding. Whereas the worldwide delivery of obtainable fresh is over adequate to satisfy all contemporary and predictable water desires, its spatial and temporal distributions don't seem to be. There are varied regions whereby our fresh sources are inadequate to meet home, economic development, and environmental desires. in such areas, the shortage of adequate clean water to satisfy human ingesting water and sanitation needs is a constraint human fitness and fruitfulness and consequently on money improvement additionally to on the protection of a simple atmosphere and wholesome ecosystems. all and varied troubled in studies have to be compelled to notice ways in which to take out these constraints. we tend to face multiple gainsays in doing that, chiefly given a dynamic and unsure future climate, and an unexpectedly growing population this can be victimization elevated social and financial development, economic process, and urbanization. However nice to satisfy those gainsay entails studies in All aspects of water management. Considering 1965, the magazine water resources analysis has performed associate vital perform in news and diffusing trendy studies associated with managing the number and excellent and value of this aid. this paper identifies the troubles facing water managers of late and destiny studies required to higher inform people who try to form a lot of property and applicable destiny. [ABSTRACT FROM AUTHOR]

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