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Increasing economic integration and global synchronization can be key for countries aiming to catch up in GDP per capita terms. Little attention has hitherto been placed in synchronization as determinant of convergence. In this paper we estimate the effect of economic globalization and synchronization on income convergence for a sample of 89 developed and developing countries in the period 1970-2015. We use a dynamic factor model and panel data techniques to undertake the objectives of the paper. We show that synchronized countries (those correlated with the factor) exhibit a higher response on GDP per capita growth with variations on the global business cycle. This implies that synchronization improves growth for that group in global expansionary phases, but also implies risks during global recessions. On the contrary, the effect on growth of an economic globalization index is less relevant for synchronized countries than for asynchronized countries. The latter result implies that asynchronized countries can benefit more increasing their levels of economic globalization., Competing Interests: The authors have declared that no competing interests exist.

This paper uses the 1990-2010 natural disaster and carbon emission data of G20 countries to examine the impact of natural disasters and climate change on the natural capital component of inclusive wealth. Our study shows that climate change and GDP have no positive impacts on the growth of natural capital. By contrast, trade openness and natural disaster frequency contribute to the accumulation of natural capital in G20 countries. There is an inverted U-shaped relationship between the growth of natural capital and the magnitude of natural disaster. Natural capital growth is not affected very much by small disasters. By contrast, large disasters tend to make the growth of natural capital fall sharply.

Human activities are accelerating CO 2 emissions all over the world most especially in high-income nations, spurring the rise in greenhouse gas emissions. For decades, technologies have been developed and patented in response to the environmental problems. There is an outcry for innovative ways to combat the environmental menace. This attests to the enormity of research being done, in recent years, to investigate how innovation can help mitigate CO 2 emissions. This research aims at investigating into the effect of innovation on CO 2 emissions in 28 OCED countries at an individual level for the recent period 1990 to 2014. The source of data for our utilized variables is the World Bank Indicators. Our study employed three key models based on the STIRPAT model, the economic-EKC growth model, and the innovation-EKC model. The findings of our study revealed that innovation plays a key role towards mitigation of CO 2 emissions in most OECD countries. Its impact, however, varies across the countries, depending on some key factors and channels elucidated in this paper. Additionally, our study asserts that improvement in GDP per capita leads to the rise in CO 2 in most OECD economies, although mitigate emissions in few OECDs; hence, the economic-EKC model is not valid for most economies. Non-renewable energy accelerates emissions whiles renewable energy sources mitigate emissions. Research and development (R&D) improves environmental quality and the EKC for both economic growth and innovation, valid for a few economies of the OECDs. We conclude that innovation is necessary in mitigating CO 2 emissions; hence, governments and policy makers should invest and promote innovative renewable energy sources.

This paper provides the evidence on the short- and the long-run effects of the export product concentration on the level of CO 2 emissions in 19 developed (high-income) economies, spanning the period 1962-2010. To this end, the paper makes use of the nonlinear panel unit root and cointegration tests with multiple endogenous structural breaks. It also considers the mean group estimations, the autoregressive distributed lag model, and the panel quantile regression estimations. The findings illustrate that the environmental Kuznets curve (EKC) hypothesis is valid in the panel dataset of 19 developed economies. In addition, it documents that a higher level of the product concentration of exports leads to lower CO 2 emissions. The results from the panel quantile regressions also indicate that the effect of the export product concentration upon the per capita CO 2 emissions is relatively high at the higher quantiles.

Globally, entrepreneurial ecosystems (EEs) have gained attention as enablers of innovation and entrepreneurship. This paper explores entrepreneurial ecosystems in developed countries. Entrepreneurship is a globally important phenomenon for economic development and addressing socio-economic challenges such as unemployment, inequality, and poverty. Systematic literature review (SLR), with the aid of the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) approach was used in the items selection process. A final sample of 28 primary articles was used. Additionally, bibliometric analysis was conducted using VOSviewer software to determine publication patterns and citation trends. More relevant and recent articles were incorporated into the bibliometric analysis to improve the results. Isenberg's six domains of entrepreneurial ecosystems framework, supported by the Dynamic capabilities (DC) theory underpinned the study. Results show that though entrepreneurial ecosystems are prevalent, they face many challenges. However, opportunities are also available but may be difficult to access. Globally, scholars agree that entrepreneurial ecosystems enhance economic development, and they help to solve socio-economic challenges such as unemployment, inequality, and poverty. This paper recommends that entrepreneurial ecosystems should be fostered in all regions to promote economic development and provide solutions to solve socio-economic problems. Local and global leaders should invest in the development of entrepreneurial ecosystems to promote economic development. The original value is based on exploring the dynamic nature of entrepreneurial ecosystems in the global environment using a developed country perspective. The findings provide important insights to policymakers and other stakeholders for developing strategies and interventions for enhancing economic growth through entrepreneurship. Plain Language Summary: How businesses collaborate in developed countries The purpose of the paper is to explore entrepreneurial ecosystems in developed countries. Entrepreneurship is a globally important phenomenon for economic development and addressing socio-economic challenges such as unemployment, inequality, and poverty. Systematic literature review (SLR) and bibliometric analysis (using VOSviewer software) were used as research methods. Isenberg's six domains of entrepreneurial ecosystems framework, supported by the Dynamic capabilities (DC) theory underpinned the study. Results show that though entrepreneurial ecosystems are prevalent, they face many challenges, but opportunities are available. Entrepreneurial ecosystems should be fostered in all regions to promote economic development and provide solutions to solve socio-economic problems. The findings provide important insights to policymakers and other stakeholders for developing strategies and interventions for enhancing economic growth through entrepreneurship. [ABSTRACT FROM AUTHOR]

In times of economic crisis, most countries face the dual challenge of fighting unemployment while restraining social expenditures and closing budget deficits. The spending cuts and lack of employment affect a large number of decisions that have a direct or indirect impact on health. This impact is likely to be unevenly distributed among different groups within the population, and therefore not only health levels may be at risk, but also their distribution. The main purpose of this paper is to explore links between unemployment, economic growth, inequality, and health. We regress a measure of health, the Health Human Development Index (HHDI), against a set of explanatory variables accounting for the countries' economic performance (GDP growth, unemployment, and income inequality), and some institutional factors related to welfare spending and the nature of the health systems for the past three decades. In addition, we explore the causes for different results obtained using an inequality-adjusted HHDI, vs. the unadjusted HHDI. We describe a panel data model, estimated by random effects, for 32 countries from 1980-2010, in five-year intervals. Our conclusion is that the high economic growth observed in the last decades, together with an increase in the levels of income inequality and/or poverty, explain the observed changes of our index, particularly when this indicator is weighted by health inequality. The remaining institutional variables (the share of social spending, health care expenditure, and the type of health systems) show the expected sign but are not statistically significant. A comment on the methodological pitfalls of the approach completes the analysis.

While the doubling of life expectancy in developed countries during the 20th century can be attributed mostly to decreases in child mortality, the trillions of dollars spent on biomedical research by governments, foundations and corporations over the past sixty years are also yielding longevity dividends in both working and retired population. Biomedical progress will likely increase the healthy productive lifespan and the number of years of government support in the old age. In this paper we introduce several new parameters that can be applied to established models of economic growth: the biomedical progress rate, the rate of clinical adoption and the rate of change in retirement age. The biomedical progress rate is comprised of the rejuvenation rate (extending the productive lifespan) and the non-rejuvenating rate (extending the lifespan beyond the age at which the net contribution to the economy becomes negative). While staying within the neoclassical economics framework and extending the overlapping generations (OLG) growth model and assumptions from the life cycle theory of saving behavior, we provide an example of the relations between these new parameters in the context of demographics, labor, households and the firm.

The paper analytically examines literature to elucidate the origin and evolution of management accounting buoyed on by the surge in appetite on its use especially during the last two decades. The paper further critically examines the wide critics on the "loss of relevance" of management accounting in enhancing performance explicitly in a modern rapidly changing business environment. A further attempt is made by this paper to better apprehend the concomitant application of traditional and contemporary management accounting practices. It further analysed the current level of appetite on the use of management accounting practices in both developed and developing countries. A critical review of related literature revealed that the history of management accounting can be traced back to the industrial revolution of the 1900s. The study also revealed that management accounting continues to evolve as companies meet new problems that need to be solved and management accounting practices that were used in the early 1900s are still applicable even today. The "loss relevance of management accounting" school of thought was dismissed as traditional MAPs that were used in the 1900s are still applicable even today. The study recommends the use of management accounting as it improves competitive edge and creates value for the organisation. [ABSTRACT FROM AUTHOR]

The dominance of the 'After the Washington Consensus' for international development is based on mainstream-neoclassical economics that has been imposed by Washington upon debt-stranded developing and developed countries. Against this tide, the purpose of this paper is to develop an alternative scheme and recommendations for international development, pulling from the Marxist political economy practice. Considering, Marxist political economy as a living tradition, the paper contributes to offering a Marxist political economy perspective to international development in the form of a retort to the 'After the Washington Consensus'. 'After the Washington Consensus' represents an evolution from the Washington Consensus, due to the need for capital to adapt to new forms of exploitation. Students and scholars of international development would benefit from this worthwhile exercise that distinguishes in a succinctly and methodically manner between mainstream-neoclassical and Marxist political economy perspectives on international development. The paper concludes that in contradistinction, a Marxist political economy approach to international development that serves the interests of the working class does not have any commonalities with the 'After the Washington Consensus' that serves the interests of international capital. [ABSTRACT FROM AUTHOR]

Purpose: The manufacturing investment shift from developed countries to emerging and developing regions creates further needs for identifying appropriate green certification strategies. This study proposes that alignments between green certification practices (GCRs) and process innovation (PIN) could help identify appropriate strategies that national economic development can influence. Design/methodology/approach: Drawing on the diffusion of innovation theories, this study proposed a taxonomy to examine whether sustainable performance differs depending on the levels of alignment and the role of national economic development. The study uses an empirical survey approach to highlight alignments between GCRs and PIN among developed, developing and emerging economic nations, addressing resource allocation for the world's sustainable development goals (SDGs). Findings: Manufacturers need to align PIN practices with the level of green certification to achieve sustainable performance. Manufacturers experiencing higher payoffs from various improvements successfully align in GCR and PIN. The alignment between these two concepts can derive different taxonomies, which highlight performance and managerial implications for manufacturers. The manufacturers followed three distinct typologies: minimalist, process active and proactive. Besides, building on the theory of performance frontiers, the findings indicated that manufacturers in developing and emerging economies placed the most substantial GCR effort compared to their counterparts in developed nations. Manufacturers in developed countries are increasingly reaching the "diminishing points" and investing limited resources in GCR just enough to keep their competitive positioning as order qualifiers rather than order winners. Developing economies are catching up very quickly in attaining GCRs and business performance. Research limitations/implications: This insight is essential for managers to adapt to nations' economic development conditions and appropriately and effectively align resources. Practical implications: The findings offer a decision-making process and provide straightforward guidelines for supply chain managers' green certification adoption. Originality/value: In including both PIN and green certification, this paper adds greater comprehensiveness and richness to the supply chain literature. [ABSTRACT FROM AUTHOR]

Energy is pivotal for sustainable economic growth. Undoubtedly, the role of the composition of the export basket (measured as economic complexity) is one of the crucial variables influencing energy consumption. Despite its importance, the existing body of literature does not intensively study the relationship between economic complexity and total energy consumption. Therefore, this study's primary aim was to examine the effect of economic complexity on energy consumption in a case study of 21 developed and 44 developing countries for the period 1971–2014. In this context, economic complexity expresses the level of sophistication of a country's export basket. This paper considers energy prices and income as explanatory variables in Durbin‐H panel cointegration analysis and applies a cointegration test with structural breaks to check for the long‐run relationships. For the long‐run estimations, we employ the augmented mean group method and dynamic seemingly unrelated regression. The findings reveal that economic complexity increases energy consumption in developing countries while it decreases energy consumption in developed countries. This is an important insight for countries concerned about their energy dependence. The diversification of their production and export baskets can reduce energy needs. The paper finally presents policy recommendations based on the empirical estimates. [ABSTRACT FROM AUTHOR]

This paper estimates the size of the digital economy in 38 countries between 2005 and 2018 and conducts an empirical study on this foundation. The results show that the digital economy has a significant role in promoting highquality economic development, primarily through industrial digitalizaion. Further research shows regional heterogeneity in the impact of the digital economy, which is greater in developed countries. Analysis of the underlying mechanisms shows that the digital economy promotes high-quality economic development in both developed and developing countries by improving technological efficiency and technological progress. However, the effect of technological progress in developing countries is clearly weaker than that in developed countries. In addition, scale efficiency in developing countries are not strengthened by the digital economy. Therefore, high-quality economic development requires the digital transformation of traditional industries and promoting their integration with digital technologies. [ABSTRACT FROM AUTHOR]

The word poverty had been and is still one of the most familiar and serious problems facing different economies of the world. While the developed countries try to minimize this menace to some extent, other underdeveloped countries wallow in its dominance with impunity. Poverty has been identified to be more associated with rural country side, and linked with some known barriers for its reduction such as government failures, deprivation, inflation and diseases. In Nigeria, although several poverty alleviation policies and programmes have been implemented the problem still persists, it is against this background that this paper examines whether poverty alleviation policies could be a catalyst to the development of the economies of the south-Saharan region that is mostly affected. This paper finds out whether it is lack of democratization, inability to tap the abundance of human and natural resources in Nigeria that could be the bane for the persistent increases in the poverty status of the populace. The paper also suggests positive and attitudinal changes that could properly implement the numerous policies and programmes, to reduce poverty to the bearrest minimum, towards the development of the Nigerian economy. [ABSTRACT FROM AUTHOR]

ABSTRACT: This paper explores whether conducting scientific and technical (S&T) research reduces the volatility of output growth. The paper finds robust evidence that output volatility is significantly lowered by a country's production of S&T publications. The results show that the effect of S&T publications on output volatility is particularly strong in middle‐income, OECD and other high‐income countries. However, for East‐Asian, low‐income and sub‐Saharan African countries the effect is either weak or absent. These results provide strong evidence that not only OECD and other high‐income countries are actively engaged in S&T research, emerging developing countries are also conducting S&T research, which is effective in reducing output volatility. The results are robust to adding a host of control variables, various subsamples and different estimation techniques. [ABSTRACT FROM AUTHOR]

Historical development patterns are uneven. There are windows of opportunity for countries on the periphery to catch-up, others may lose momentum. Using the Maddison database accelerating and decelerating periods can be found. This paper compares the development trends of six East-Central European (ECE) countries with the average of highly developed countries, and three successfully catching-up countries. A methodological novelty of the paper is the usage of enveloping curves. The approach is based of Ferenc Jánossy's seminal work on the long-term development trendlines of countries, which are interpreted as historic growth potential indicators. ECE growth performance is also compared to their own long-term potentials. The development pattern is interpreted in the mainstream political concepts of the various historical epochs. The analysis concludes that ECE region's growth performance is more successful in state-permeated management of slack periods. Liberal epochs' accelerated growth of highly developed countries could not be followed. [ABSTRACT FROM AUTHOR]

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This paper examines whether there is a difference in the hidden economy's set of determinants across developed and developing countries. Applying extreme bounds analysis (EBA) to a cross-sectional dataset of 33 developed and 97 developing countries, we find a considerable variation in the determinants of the hidden economy across developed and developing countries. The results show that internet usage, inflation, financial development, poverty, and monetary freedom are robust determinants of the hidden economy exclusively in developing countries. Whereas the time required to start a business and GDP per capita growth play a crucial role exclusively in developed countries. Remarkably, the property rights index is the only determinant that is robust in both types of countries. These findings offer important insights for policymakers seeking to address the challenges posed by the hidden economy. [ABSTRACT FROM AUTHOR]

Travel And Tourism Business Is Contributing About 10.3 Per Cent Of The Global Gdp, 330 Million Employments Around The Globe. Both Developing And Developed Countries Are Considering Tourism As A Promising Business For The Economic Development. This Paper Using The Available Data Explains How Tourism Industry Contributes To The Economic Growth And The Challenges Faced Due To The Outbreak Of Covid19 Pandemic. The Paper Explores The Potentials Of This Industry In Enhancing The Economic Growth. Considering The Unique Character, Its Size, Contribution To The World Gdp, Global Exports, Job Potential, And Its Predicted Growth Rate Authors Explains The Need For A Constructive Effort From Countries All Over The World To Uplift Tourism Industry From The Current Crisis. [ABSTRACT FROM AUTHOR]

The low‐carbon transition involves achieving the coordinated development between economic development and carbon reduction. This paper utilises an integrated decomposition and econometric framework to reveal the influence mechanism and convergence evolution of carbon emission intensity (CEI) across 29 OECD countries in the period 1992–2018. The country‐level low‐carbon transition efforts are then investigated. The results imply that: (1) The reduction in CEI is primarily attributed to the changes in economic development and energy intensity. The carbon emission coefficient effect also negatively influences CEI. The impact of energy consumption per capita, however, is negligible. (2) According to econometric analysis, energy intensity, energy mix, carbon emissions per capita and energy use per capita have positive impacts on CEI. Specially, GDP per capita shows an inverted U‐shaped curve relationship with CEI. (3) There is evidence of convergence in CEI across developed countries. Energy intensity plays a crucial role in accelerating the CEI convergence process, implying a half‐life of 3 years. (4) Fifteen European countries have made strong low‐carbon transition efforts among all countries. Denmark has made the largest efforts, South Korea the least. This study provides important implications for low‐carbon economy transition. [ABSTRACT FROM AUTHOR]

This article presents comments and discussion on "Foreign Capital and Economic Growth," a paper presented at the Brookings Panel on Economic Activity on March 29 and 30, 2007. The relationship between foreign capital inflows and growth among non-industrialized economies is explored along with the overriding question of whether foreign capital plays a helpful, benign, or malign role in economic growth. The author discusses the Lucas puzzle, how capital tends to flow uphill from poorer to richer countries, and the allocation puzzle in which capital does not flow into the countries that are growing most rapidly.

This paper examined the short‐ and long‐run impacts of gasoline price, macroeconomic factors and road length on road traffic crashes, injuries and fatalities in Nigeria. Annual data from 1995 to 2019 and autoregressive distributed lag approach were employed. Results suggest that gasoline price, per capita income, road length and population density significantly influence road safety outcomes. Gasoline price has a positive short‐run impact on crashes, injuries, and fatalities contrary to findings in developed countries. Road crashes tend to decrease when income increases in the short term. Population density leads to improvement in road safety outcomes while road length exacerbates it. Government's policy on gasoline price increase could worsen road safety outcomes unless it is accompanied by improvement in road infrastructure, safe public transport and economic growth, [ABSTRACT FROM AUTHOR]

Previous studies have done more research on the relationship between carbon emission reduction, energy consumption, and economic growth in specific countries or regions, which rarely consider the issue of heterogeneity between countries or regions, and also lack the refinement of energy consumption categories. Using panel data from 2000 to 2017, this paper divided the top 28 global carbon emission countries into developed countries and developing countries, and explores co-integration and causality between renewable energy consumption, non-renewable energy consumption, economic growth, and carbon emission. Results suggested that there is a two-way causal relationship between carbon emissions and economic growth in all economies. There is a two-way causal relationship between economic growth in developed countries and consumption of renewable and non-renewable energy, while there is no significant relationship between economic growth and energy consumption in developing countries. There is a two-way causal relationship between carbon emissions and renewable energy in all economies, but there are significant differences; there is a two-way causal relationship between carbon emissions in developed countries and non-renewable energy, and only one-way causality exists in developing countries. [ABSTRACT FROM AUTHOR]

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

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

We reassess the contribution of Sir Arthurpaper entitled‘Economic Development with Unlimited Supplies of Labour’ to our understanding of economic development, and to the establishment of development economics as an academic discipline. We argue that Lewis's key insight into the structural dualism characterizing developing countries mapped out a new and distinctive field for development economics and policy. The paper has had a profound impact over the last 50 years and continues to yield valuable lessons for understanding the nature of economic transformation. [ABSTRACT FROM AUTHOR]

Much of the discussion in favor of simplicity of legal rules and against complex regulation is rooted in economically developed countries with strong state capacity. With economic development and state capacity comes the presumption that complex rules will be enforced. Therefore, analysis focuses on the administrative and error costs, and the unintended consequences of complex rules that are enforced. This paper argues that the Epsteinian insight is even more relevant to the developing world where countries often lack enough state capacity to even take on simple governance tasks. Developing countries often have less than 20 percent of the state capacity of developed countries. However, this does not mean they limit the regulatory structure to a fifth of the tasks. Under-enforcement or non-enforcement of complex rules imposes different costs and unintended consequences on society. Using examples from India, this paper highlights problems of enforcement swamping, deadweight loss, and corruption arising from the under-enforcement of complex rules. To avoid these problems, the paper concludes that a fortiori less developed countries should favor simple rules. [ABSTRACT FROM AUTHOR]

Rural criminology as a topic of scholarly study, neglected over the past two to three decades, has bounced into the spotlight, with claims now being made that rural criminology is receiving justified attention among the academic fraternity. This paper presents a comparative analysis of the major challenge facing two countries with different levels of development as identified by the United Nations Human Development Index. A predicament for rural criminology is that the world is not equal: rural crimes is researched in developed countries but not in developing countries. This paper compares the types and prevalence of agricultural crimes in Australia (NSW) and South Africa to determine whether significant differences or similarities exist. [ABSTRACT FROM AUTHOR]

Underlying this paper is the conviction that it is of utmost importance that business ethics should indeed become an integral part of business culture in all, and therefore also in developing countries. It is not to be denied that business ethics has to a much larger extent become part of the business culture in developed countries than in developing countries. In this paper, I first of all wish to provide an explanation for the fact that business ethics is fighting an uphill battle in becoming part of the business culture in developing countries. Secondly I want to give a thumbnail sketch of the preconditions that have to be fulfilled in order to stimulate the development of a moral business culture in developing countries. In order to achieve these goals I will focus mainly on Africa, and more specifically on South Africa. [ABSTRACT FROM AUTHOR]

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

The new information age and the phenomena of digitalization and automation make investments in research and development (R&D) indispensable for economic and social progress. Meanwhile, increased inequality within countries and its effects on advanced countries is one of the consequences of the recent turbulences in the global economy. These two dynamics open debates around the still-unresolved nature of the relationship between innovation and inequality. This paper contrasts postulates from the existing theory and relevant empirical evidence to argue that the analysis of the positive and complex co-evolution of inequality reduction and technological progress in Europe implies a recombination of factors that highlights institutions as the backbone of the relationship. The results of this analysis based on time series / cross-section regressions with panel data from a sample of 20 European countries for the period 1995–2017 show the relevance of structural and institutional aspects within the region, while two sets of countries evince a dissimilar European behavior in the relationship under study. According to our findings, it is plausible to argue the existence of a virtuous circle defined by the combination of social protection contributions with innovation policies that certainly help settle the controversial relationship between innovation and inequality. [ABSTRACT FROM AUTHOR]

The economic basis of globalization lies in multilateralism. The intended impact of globalization is global allocative efficiency because Foreign Direct Investment (FDI) spearheads the dispersal of capital across the globe. So, it can be said about FDI that multilateralism implies importing capital from a variety of sources as may be most efficient rather than restricting them to a bilateral basis. This forms the motivation of this paper. This paper has used Principal Component Analysis (PCA) and panel regression approaches. The study builds up a methodology for measuring and testing the determinants of the patterns of inward FDI of developed countries. These determinants are a large set of developmental variables. The study evolves a set of six composite indices by using PCA, namely, human resource, infrastructure, labor, market, trade openness and resource. The annual growth rate is 11% while that of the top 10 developed countries of the world experience a significantly lower growth rate, i.e., 3.4% (= 0.111 - 0.077). Infrastructure is highly elastic at 1.72. In the case of the top 10 countries, the determinants of inward FDI that are significant and positive are labor, market and resource. [ABSTRACT FROM AUTHOR]

This paper studies how catch‐up industrial policies in China affect economic development in a two‐sector neoclassical growth model. To fulfil their aspirations of catching up with the output of the capital‐intensive sector of developed countries, Chinese political leaders adopted industrial policies that subsidise this target sector at the expense of other sectors from 1952 until the economic reform in 1978. The static effect of this industrial policy distorts the allocation of resources across sectors and lowers the aggregate TFP. The dynamic effect discourages the accumulation of capital. We show that although the output of the capital‐intensive sector boosts initially, it will be lower than its first‐best counterpart in the long run if catch‐up aspirations are too strong. Our theoretical predictions are consistent with the experience of the Chinese economy from 1952 to 1978. [ABSTRACT FROM AUTHOR]

The current, prevailing narrative on the WIPO-WTO relationship refers to "forum-shifting". The idea is that developed countries moved from WIPO to WTO in order to obtain stronger IP protection at the international level by joining trade talks with IP negotiations. As a result, WTO would have become the main international forum for trade-related IP issues. This paper argues that the forum-shifting narrative, despite its merits, may fail to catch the complexity of WIPO-WTO relationship. Moreover, long-standing issues, as well as recent developments in trade and IP, demonstrate that the two Organizations have been characterized by continuity and constitute in reality interdependent, complementary fora. This is not to deny the differences existing between WIPO and WTO nor to discard the merits of the forum-shifting theory. Nonetheless, it is argued, it is time to move beyond it in order to grasp the implications of the WIPO-WTO relationship towards future international economic governance. [ABSTRACT FROM AUTHOR]

The paper specifically looks at the rural-urban interaction and contribution of various entities or agents to the total employment in China, rural China, and urban China. The study concentrated on the total employment after 1978 reforms. The paper looked at the 1978-2004 reform and after 2004 reform. It was revealed that 1978-2004 reform hindered the flow of labor from rural to urban but after 2004 reform promoted the flow of labor force from rural to urban China the development, which resulted in a drastic reduction in the rural labor force. Before the reforms, state- and collective-owned units were the only entities that were employing people in China. Even though private enterprises were allowed after the reforms, the leading role of the state- and collective-owned units persist. State-owned units contribute immensely to the total employment in China and urban employment, but its contribution to employment in rural China is negative. Collective-owned and cooperative units show a positive contribution to employment in rural areas but its contribution to the total employment in China is negative. Units with funds from Hong Kong, Macao, and Taiwan and rural private enterprises also contribute positively to total employment in China. Cooperative units, joint holding corporations Ltd., foreign-funded units, and rural self-employed individuals contribute negatively to the total employment in China. Collective-owned and cooperative units contribute negatively to employment in the urban areas. Urban and rural private enterprises and rural self-employed individuals contribute positively to urban employment. [ABSTRACT FROM AUTHOR]

This paper aims to provide an overview of the position of the developing countries in the international trade system and discussion about perspectives of their trade development. The main hypothesis of the paper is that developing countries as a group have made a breakthrough in the world trade in the past two decades, but genuine improvement has been made and enjoyed by several large developing countries, primarily China. The paper elaborates mostly by use of methods of analysis and synthesis, based on the extensive processing of trade data, as well as relevant literature. In this context, the paper provides evidence about trade liberalisation of the developing countries since 1980s to the present time, intense export growth of the developing countries over the period, as well as change of the trade structure of the developing countries with developed countries, evident through rising share of the medium and high skills and technology based products. In purpose of provision of more realistic assessment of the position of the developing countries in the international trade system, special attention has been put on China's trade performances, given the rapid increase of China's share in the world trade from less than 1 per cent in 1980 to over 10 per cent in 2011. The major findings of the paper confirm that improvement of the overall position of the developing countries in the international trade system has mainly resulted from the improvement of the trade position of several countries, primarily China. The paper also provides overview on WTO simulations about international trade prospects up to 2035, which confirm further dependence on the trade position of the developing countries as a group from China's trade accomplishments. In this perspective, the paper argues that there is a need for differentiated treatment and provision of extra flexibilities for the other developing countries in purpose of achieving as genuine improvement in their trade position. [ABSTRACT FROM AUTHOR]

The growing appeal of the long-run perspective among economists and the fiftieth anniversary of the publication of the Conrad and Meyer article (1958), which marked the official beginning of the Cliometric Revolution, have attracted a lot of interest on economic history. This paper explores the long-term development of economic history by analysing all the 6516 articles published in the top five international journals (Economic History Review, Journal of Economic History, Explorations in Economic History, European Review of Economic History and Cliometrica). Our main results are that the Cliometric Revolution took quite a long time to fully display its effects. We show that the conventional wisdom on the current state of the discipline seems a bit too optimistic. Economic history does not seem to be neither more comparative nor more focussed on peripheral countries. The historical periods studied do not change considerably, and the relevance of different topics did not change univocally. Most articles use some econometrics but only a minority feature advanced techniques. Economic history is indeed becoming more democratic, but its boundaries remain limited to the most advanced countries. Articles by authors from Continental Europe increased substantially, while that of North American declined. This change may be the harbinger of a new divergence between the two shores of the Atlantic, possibly related to the rise of a new paradigm, but it is too early to tell. [ABSTRACT FROM AUTHOR]

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The pervasive role of telecommunications in contemporary commerce is well documented, and has dramatically increased the demand for services. Across the world, countries are seeking to improve telecommunications infrastructure and benefit from anticipated increases in economic activity, and a causal relation between the two is often tacitly assumed. This paper analyzes aggregate data at the national level to see if there is any empirical evidence that supports this assumption. We apply the well established Granger test for causality using time series data for levels of telecommunications infrastructure and economic activity from thirty countries. We find that the evidence for causality from levels of telecommunications infrastructure to economic activity is stronger than that for causality in the opposite direction. Moreover, this pattern appears to hold for both industrialized and developing economies, even though the former has strong service sectors that are heavily dependent on telecommunications. These findings provide additional insights into the complex relationship between telecommunications and economic activity. Some potential policy implications are also discussed. Granger causality tests have not seen much application in the IS Literature, and we mention some IS research issues that may benefit from such analysis. [ABSTRACT FROM AUTHOR]

In the context of global concern for the environment and considering the observation that very few manufacturing companies have taken a more proactive position on sustainability, it has been suggested that the stakeholder approach can contribute to the study of sustainability management. Hence, this paper analyzes the relationship between a set of individual stakeholders pressures (STP) from different groups and the adoption and implementation of some specific sets of sustainability practices (SP) in manufacturing: internal and external monitoring and external collaborative. It also contributes to the open debate around the "monolithic" versus differentiated reaction to perceived STP, showing that companies respond selectively to the different stakeholder groups. Finally, this research also considers the possible influence of different country development contexts (developed vs. emerging countries), which may be very informative in the context of the growing globalization of operations. Using a large, worldwide, multicountry, and multi‐informant sample of manufacturing plants from three industry sectors located in 15 emerging and developed countries, this study shows that the different stakeholders play different roles in the adoption and implementation of different sustainability practices, thus contributing to the open debate around a suitable balance of stakeholder pressures. This research further contributes to the debate around the convergence and divergence perspectives by supporting the "universal" adoption of sustainability practices (convergence perspective) as no statistical differences are found in stakeholder pressures in different country development contexts. [ABSTRACT FROM AUTHOR]

Trust is the focal point of this thesis. Trust is an integral part of capitalist economics and, therefore, corporate governance. The relationship of trust serves as a bond and brings together different individuals of diverse interests to work along to fulfil their objectives. But in the last two decades, this relationship of trust badly shaken due to various reasons. In order to resort the bond of trust, policymakers in different jurisdictions have developed and introduced various policies and procedures. The same effort has been made by the Security and Exchange Commission of Pakistan (SECP), as it developed and implemented the country first Corporate Governance Code in 2002 and revised them twice in 2012 and 2017. But making rules, regulations, procedures and policies are only one aspect of restoring the relationship of trust. The rules can be made very strong and as fancy as possible, but only the implementation, compliance, and actions make them effective. Therefore, this paper empirically examines and evaluates the SECP Corporate Governance Code and tries to find out to what degree the SECP has succeeded in restoring the relationship of trust. The study has developed a Governance Disclosure Quality Index (GQI) using guidelines identified in the United Nations Conference on Trade and Development (UNCTAD, 2006). In contrast with the previous studies in Corporate Governance domains, which mainly examined and compared the Corporate Governance practices between developing and developed countries, this study examines and compares the Corporate Governance practices within a single country, but in three different time periods. The research's main findings show that the Governance Disclosure Quality of the Pakistani listed banks in their annual reports enhanced (and so trust) after each revision of the SECP Corporate Governance Code. [ABSTRACT FROM AUTHOR]