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Governments engage in infrastructural developments across the globe, and the level of success often colligates with institutional quality levels. However, despite the presence of governance, the lack of well‐developed infrastructure has bedevilled sub‐Saharan African (SSA) countries for decades. Therefore, this study investigates the governance‐led infrastructural development hypothesis for the SSA region from an institutional quality perspective towards addressing the infrastructural deficit challenges of the region. A combination of advanced panel econometric techniques was applied to data collected from the African Development Bank, World Bank World Development Indicator, and International Monetary Fund (IMF) to investigate the governance‐led infrastructural development hypothesis in SSA while controlling for financial development, economic growth, and industrialization in the region. The findings show that the interaction of institutional quality measures and governance indicators significantly and positively induces infrastructure in sub‐Saharan Africa (SSA). Additionally, while economic growth and financial development yield no expected significant influence on infrastructural developments, industrialization plays a crucial role, as its spillover effects are not confined to boosting economic growth alone but also to infrastructural transformations. Thus, the provision of policy frameworks by authorities to strengthen institutions and promote good governance is vital for articulating and facilitating infrastructural development plans for SSA. [ABSTRACT FROM AUTHOR]

Shift‐share analysis has been extensively used to investigate the different drivers of changes in socioeconomic variables in both spatial and non‐spatial contexts. This paper presents a comprehensive shift‐share formulation that, by considering all the possible interactions between the geographical and sectoral variables that interplay in a non‐spatial context, accounts for the intrinsic conditions of the regions that could affect the regional changes when spatial influences are not detected. The proposed technique is illustrated by analyzing the growth of industrial gross value added in the Spanish provinces between 2015 and 2019. Our results show the relevance of the intrinsic effects: the advantages (disadvantages) of the industrial sector within each province and the regional dynamism are important factors to explain the industrial changes in the Spanish regions. These findings provide evidence for the use of the comprehensive shift‐share as a tool that contribute to the regional analysis by identifying the characteristics of vulnerable regions that require further attention to avoid or lessen the effects of low economic growth. [ABSTRACT FROM AUTHOR]

In this paper, we examine the impact of macroprudential policy on economic growth. The results show that the implementation of macroprudential policies contributes to fostering economic growth, especially in the period following the onset of the global financial crisis. In particular, we show that tightening loan loss provisions, loan-to-value, lending restriction, liquidity requirements and systemically important financial institutions measures all lead to higher economic growth. However, we also find that, while tightening macroprudential policy is generally beneficial for the economy, excessive tightening policy can exert a negative growth impact. [ABSTRACT FROM AUTHOR]

Many countries seek economic growth by means of more energy use from energy imports. Because such imports entail risk as they are controlled by energy exporters, this research establishes a model for energy resilience estimation in order to understand energy risk. The samples in this study are 27 member countries of the European Union (EU), and we divide them into 8 Baltic Sea region (BSR) countries and 19 non-Baltic Sea region (NBSR) countries. The findings are as follows. (i) During the data period, BSR and NBSR exhibit the phenomenon of energy vulnerability. (ii) BSR presents stronger energy resilience than NBSR. (iii) Denmark and Sweden in BSR and Ireland and Luxembourg in NBSR have the best energy resilience. (iv) Strong energy resilience needs high marginal product of energy, high output efficiency, and low energy dependency growth rate for support. [ABSTRACT FROM AUTHOR]

China is currently at a critical stage in transitioning from a large petrochemical country to a powerful one. To clarify the relationship between the development of the petrochemical industry and local ecological economy and explore the scientific development path for the industry, this paper analyzes the influence of petrochemical industry agglomeration on local ecological efficiency. By using panel data from 30 provincial units between 2012 and 2021, the study also investigates the mediating effect of green technology innovation on this relationship. Results show that the agglomeration of China's petrochemical industry positively affects local ecological efficiency. However, given some issues such as separation of production and innovation activities within the industry, a negative correlation exists between the agglomeration level of the petrochemical industry in China and the level of green technology innovation. Consequently, the agglomeration of China's petrochemical industry cannot enhance ecological efficiency through the mediating effect of green technology innovation level. The substantial resource consumption by green technology innovation has not translated into effective ecological economic benefits, which has increased the burden on ecological functions and resulted in a negative effect on ecological efficiency. The research conclusions and proposed measures hold significant implications for the scientific planning of the development of China's petrochemical industry, as well as for promoting regional economic growth and ecological construction. [ABSTRACT FROM AUTHOR]

This article examines the changing role of the local government's environmental management in Guangzhou, China, through a historical content analysis of archival data. Environmental governance in Guangzhou has followed a government-led, top-down model. The content analysis showed that over the past four decades, the role of Guangzhou's municipal environmental governance has been characterized by transformation -- from passive responses to accelerating and securing economic growth, and finally to active interventions that balance economic growth and ecological protection. The changing role of the Guangzhou government in environmental governance is driven by varied urban political priorities at different historical stages. This article argues that the urban political economy and the national government's commitment to pragmatic, sustainable development shaped the local government's response to environmental problems. [ABSTRACT FROM AUTHOR]

The aim of this article is to contribute to the discussions about the relationship between feminism and neoliberalism and the status of feminist emancipatory claims in marketized policy fields. My approach has been to analyse gender equality work within the highly marketized field of regional development in Sweden with a specific interest for how the convergence of the policy goals of gender equality and economic growth is represented by gender equality workers and to discuss the status of feminist emancipatory claims in this policy field. The analysis consists of articulating three representations of the relationship between gender equality and economic growth, characterized by various degrees of conflict: reciprocity, co-optation and Trojan horses. However, none of the representations articulate open emancipatory claims as legitimate within the field of regional development. Thus, the study shows gender equality in its relationship to economic growths renders emancipatory claims illegitimate unless beneficial for economic growth or hidden trough marketized language or logics. [ABSTRACT FROM AUTHOR]

Motivation: Bangladesh's economic growth rate over the past three decades has been one of the highest in the world. This success is difficult to reconcile with a single macroeconomic explanation of development. Purpose: Previous studies have investigated individual aspects that can explain Bangladesh's successful development. But a consistent account of how individual factors contributed to growth is currently missing. Can factors that correlate with growth in other countries explain the outstanding growth performance of Bangladesh? Or is the country's experience unique? Methods and approach: We construct a panel data set for 149 countries since 1970 and combine growth regression techniques with a peer group comparison. Different specifications, subsamples, and estimation techniques are considered. Finding s : Factors correlating with growth in other countries can well explain the growth experience of Bangladesh. But two features are specific to the country. First, a combination of "good enough" policies led to considerable growth impulses between 1990 and 2005: the country's improvements in typical correlates of growth during this period were among the global top 5% for any 15‐year period investigated. Second, despite the absence of major reforms after 2005, Bangladesh defied the mean reversion in growth rates experienced by most fast‐growing economies and peer countries. Policy implications: Our results support the idea that a combination of "good enough" policies can jump‐start high growth in low‐income countries. Our findings further demonstrate that a stable macroeconomic and institutional environment helps when it comes to reaping the benefits of structural improvements in the long run. [ABSTRACT FROM AUTHOR]

This article argues that Croatia's growth over the past two decades is deeply related to the dynamics of international trade. Under the premise that what is bought and sold in global markets reflects the economy's fundamentals, we show that the rate of growth compatible with equilibrium in the balance-of-payments, i.e. the dynamic Harrod trade multiplier, is a good predictor of the country's actual long-run growth rate. For this purpose, we apply a state–space model and the Kalman smoother to obtain time-varying parameter estimates of the exports and imports functions. We use these estimates to investigate the determinants of international non-price competitiveness. Bayesian Model Averaging (BMA) and Weighted Average Least Squares (WALS) techniques are combined to tackle model selection uncertainty. It is shown that R&D investments and human capital accumulation are the most important explanatory variables. The success of the European Union's (EU) integration process depends on the capacity of its new members to achieve a balanced-growth path. Being the last country to join the union, the experience of this single country is particularly relevant to understand possible development alternatives for the region. We conclude by highlighting the policy relevance of our findings to the evaluation of Croatia's catching-up performance as part of the EU. • Croatia's growth is deeply related to the dynamics of international trade. • We apply a state–space model to estimate the trade-multiplier for this country. • We show it is a good predictor of the actual long-run growth rate. • Estimates are used to investigate the determinants of international non-price competitiveness. • R&D, human capital, and demography are the most important explanatory variables. [ABSTRACT FROM AUTHOR]

• During 1993–2018, market services grew at a faster rate than non-market services. • Applying Domar weights we observed that transport and storage was the highest contributor among market services industries, while public administration has made relatively higher contribution to aggregate non-market services TFP growth. • TFP growth in manufacturing has a significant positive effect on TFP growth of both market services and non-market services. • Market services TFP growth is positively impacted by a spillover effect of TFP growth in India's trade partners. The services have been the driver of India's overall growth since the onset of economic reforms in the 1990s. The value-added share of services increased from 41 percent in 1990 to 53 percent in 2018. On average, the sector grew at 7.5 percent annually during 1993–2018, contributing to about half of the aggregate economic growth. Using the India KLEMS data, we examine the trends in total factor productivity (TFP) in individual industries within services and their contribution to aggregate TFP growth in the sector during 1993–2018. We find that transport and storage was the highest contributor among various market services industries followed by financial services, while public administration made a relatively high contribution to aggregate non-market services TFP growth. Moreover, we investigate the factors driving TFP growth in the services sector, particularly the role of manufacturing TFP – looking into spillover effect from manufacturing to market services and non-market services. Our results suggest that TFP growth in manufacturing had a significant positive impact on TFP growth in the services sector. Also, we find evidence of significant productivity spillover effect to India's services sector from other countries, particularly the developed countries. [ABSTRACT FROM AUTHOR]

In this paper, we develop a three-period gender-based Overlapping Generations (OLG) model of economic growth for Côte d'Ivoire in which life expectancy is endogenized and the rate of change of the poverty rate is linked to the growth rate of output per capita. We then calibrate the model using the country-specific calibration data to illustrate the role of public policies in the model, and its implications for long-term growth, gender equality, and poverty in Côte d'Ivoire. To this end, we discuss three sets of quantitative experiments: broad-based development policies (increase in education spending and infrastructure investment, and governance reform), gender-based policies (reduction in gender bias in the market place, increase in women's bargaining power, and reduction in family bias against girls' education), and a composite reform program (combination of pro-growth, pro-gender policies). Overall, our findings suggest that Côte d'Ivoire could achieve better growth and poverty outcomes if the country could implement a composite reform program that includes comprehensive development and gender-based policies. [ABSTRACT FROM AUTHOR]

Recent literature on knowledge spillovers argues that diversified economic structures are more conducive to knowledge spillovers than specialized structures: a concept that is generally known as Jacobian Externalities. It further argues that diversification can be further decomposed into two forms, that is, related variety (RV) and unrelated variety (UV). RV is the diversification of production in related or similar products, whereas UV is the diversification of production in unrelated or dissimilar products. Most of the existing research on RV and UV is on advanced economies, and research on developing countries, particularly in the South Asian region that mostly produces agricultural and textile products, is scarce. Therefore, this study examines the relationship between RV and UV with economic growth in six South Asian countries using secondary data from 1995 to 2019. Since products at two-digit Standard International Trade Classification are unrelated to each other, UV is calculated at the two-digit level and RV is calculated at the five-digit level because of the similarity among sectors. Using fixed-effects regressions on the standard growth model, our findings suggest that related specialization is beneficial for economic growth in South Asian countries, and UV has a positive relationship with growth only when government effectiveness is high. Our results show that South Asian countries should produce selected products under the broad product classification to benefit from economies of scale instead of diversifying their product portfolio by producing similar products. [ABSTRACT FROM AUTHOR]

Financial processes have changed how economic growth is carried out, yet little research has been done examining how financialization affects the well-established association between economic activity and emissions. We construct fixed effects regression analyses with robust standard errors for 172 nations between 1960 and 2014. In this article, we estimate financial processes' moderation of the association between GDP per capita and CO2 emissions per capita, as well as whether or not such processes reduce the environmental intensity of manufacturing activities. We find that financialization decouples total GDP per capita from emissions per capita but fails to do so for growth from manufacture. Noting the absolute rise in manufacturing activity, we argue that the economic reorganization that financialization represents may obfuscate the ongoing pressure that economic growth places on the environment. [ABSTRACT FROM AUTHOR]

Against the background of climate change and scarce non-renewable resources, transforming the fossil-based toward a bio-based economy is considered crucial for sustainable development. Numerous countries have released governmental strategies outlining their bioeconomy visions. This study examines the bioeconomy visions presented in 78 policy documents from 50 countries worldwide, building on earlier vision typologies. Through qualitative content analysis, 227 distinct policy goals were identified and analyzed. Descriptive statistics were used to determine the salience of specific goals, overarching goal categories, and distinct bioeconomy visions: bioresource, biotechnology, and bioecology visions. The results reveal that goals and visions prioritize economic growth, while environmental considerations are less salient. The bioresource vision emerges as the globally dominant perspective, while the bioecology and biotechnology visions have lower salience. These findings deepen our comprehension of current bioeconomy policies and emphasize the need for critical research on bioeconomy visions and their implications for public policy. [ABSTRACT FROM AUTHOR]

Governments, companies and citizens around the world consider necessary to adopt a new circular economy (CE) model that allows solving the planet's environmental challenges and guaranteeing sustainable economic growth. Europe advocates this philosophy, but there is no widely accepted index to measure CE implementation at a macro level. This paper proposes a new index based on principal component analysis for European Union countries that use all information available without losing any information by the dimensionality reduction and consider objective weights based on the percentage of variance that each one retains. Moreover, we develop a disaggregated analysis considering the CE dimensions set out in the 'CE monitoring framework', allowing a more comprehensive analysis than when using a single indicator of CE implementation. This method is also used to build an index of the degree of achievement of the sustainable development goals (SDGs) to see how they relate to the CE; the relationships between CE dimensions; and between SDGs. The results by geographical areas reveal a higher level of CE implementation in western European and EU-15 countries, with Luxembourg, Austria, Denmark, the Netherlands and Belgium alternately holding the top positions depending on the CE dimension considered. Therefore, the new European countries and the countries in the east must encourage measures to improve the implementation of the economy. In addition, there is a positive, strong and significant relationship with SDGs 8, 9 and 11, with both the overall CE implementation index and the disaggregated indices, and a negative one with 7 and 15. [ABSTRACT FROM AUTHOR]

Countries have been faced with critical environmental problems and tried to take measures to prevent the negative effects on societies. In this context, countries, policymakers, and scholars have considered various factors. However, political stability (PS) has not been a fully recognized point. Therefore, the most recent studies have begun to include PS in empirically analyzing the environment. By considering the contemporary literature regarding factors affecting environmental quality, this research investigates the effect of PS on the environment in the Netherlands, which takes place among the countries that have a high level of PS. In doing this, the study focuses on the effect of PS by considering various controlling factors; utilizes data spanning from 1990/Q1 to 2019/Q4; employs Fourier-based ARDL and TY causality approaches as the base models; and performs the FMOLS approach for robustness. The findings present that (i) PS curbs environmental degradation; (ii) renewable energy declines environmental degradation; (iii) economic growth causes a stimulating in environmental degradation; (iv) globalization is not statistically significant on the environment; (iv) PS, renewable energy, and economic growth have a causal effect on the environmental degradation, whereas globalization does not have; (v) the results are robust based on the alternative approach. Thus, the study proves the highly effective role of PS on the environmental quality in the Netherlands. So, Netherlands policymakers should take PS into account in environmental plans so as not to miss being a carbon-neutral economy target due to the changes in the political environment. Accordingly, various policy options are discussed. [ABSTRACT FROM AUTHOR]

Kim and Markus (1999; Study 3) found that 74% of European Americans selected a pen with an uncommon (vs. common) color, whereas only 24% of East Asians made such a choice, highlighting a pronounced cross-cultural difference in the extent to which people opt for originality or make majority-based choices. The present high-powered study (N = 729) conceptually replicates the results from Kim and Markus (1999; Study 3), although our effect size (r =.12) is significantly weaker than that of the original study (r =.52). Interestingly, a larger proportion of Chinese, but not US, participants selected a pen with an uncommon color now than during the original study. Thus, our findings indicate a potential transmission of certain Western values to cultures traditionally characterized by collectivism and conformity, likely exacerbated by the globalization of mass media and the rapid economic growth in many East Asian countries. [ABSTRACT FROM AUTHOR]

Numerous studies conducted by various scholars have aimed to ascertain the impact of monetary policy on economic growth. However, these empirical investigations have not reached a unanimous consensus. Therefore, this study analyzes the effect of monetary policy. To address this objective, this study employed ARDL and error correction model (ECM) based on annual data from 1993 to 2022. Granger causality test was also employed to check the direction of causal effects of one variable on the other variable. All required pre and post estimation tests were performed and verified that the model was statistically viable. The study revealed that, in the short run, deposit interest rate, reserve required amount, and open market operation have positive and statistically significant effects on real GDP growth of Ethiopia; however, money supply has negative and statistically significant effects on real GDP growth of Ethiopia. In the long run, money supply has positive and statistically significant effects on real GDP growth of Ethiopia; however, deposit interest rate and reserve required have negative and statistically significant effects on real GDP growth of Ethiopia. To sum up, in the short run, contractionary monetary policy was promising, and in the long run, expansionary monetary policy was favorable for economic growth. The Granger causality test result shows that there is bidirectional causality between monetary policy and economic growth; except there was a unidirectional relationship between deposit interest rate and economic growth. Ultimately, this research suggests the following policy recommendation: for short-term economic enhancement, it is advisable for the government to opt for a contractionary monetary policy rather than an expansionary one. On the other hand, for long-term economic improvement, an expansionary monetary policy is more favorable than a contractionary one. [ABSTRACT FROM AUTHOR]

The blue economy approach to ocean governance promises environmentally sustainable, economically viable, and socially equitable ocean-based economic growth. However, the blue economy has been inconsistently defined, interpreted, and applied, often leading to incompatibilities between the blue economy approach and existing ocean policies. We explore the blue economy in the Republic of Panama, where recent government commitments include designing and implementing a blue economy approach to ocean sector development. We use qualitative text analysis and a policy coherence assessment to examine the consistency of objectives across existing ocean policies in Panama and their compatibility with broader blue economy goals. Our results indicate that Panama's existing ocean policies address some blue economy goals but also reveal how policy coherence assessments and precise deliberation can inform a more contextually sensitive blue economy approach that aligns with existing ocean policies while also adding value to ocean governance and better integrating blue economy objectives. Findings suggest that Panama's existing ocean policies could better address social, environmental, and resource use objectives, without disregarding the need to reinforce economic and governance goals; elevating social objectives, especially social equity, can truly differentiate Panama's blue economy fromits current ocean governance approach. Finally, while we acknowledge that greater policy coherence can potentially increase the likelihood of attaining policy objectives, our findings show that coherence alone does not ensure their realization in practice. Our study contributes to blue economy scholarship by providing the first Latin America-based case study using policy coherence to assess compatibilities between existing ocean policies and a blue economy. Other countries seeking to transition to a blue economy could use our findings to inform the design of their approach and its integration with their existing ocean policy frameworks. [ABSTRACT FROM AUTHOR]

Sub-Saharan Africa (SSA) is seeing exceptional urbanization and economic expansion rates. Therefore, the STIRPAT (Stochastic Impacts by Regression on Population, Affluence, and Technology) parameters and the spatial econometric framework are used in this work to examine the influence of economic growth and urbanization on SSA's CO2 emissions. Likewise, to determine the spatial effect and understand how factors influence the spatial dependence of carbon emissions, the study builds a spatial Durbin model (SDM). In line with the findings, the spatial correlation test revealed the spatial correlations across various countries. This indicates that the changes in sub-Saharan African country's CO2 emissions impacted nearby countries and the countries themselves. Additionally, the findings reveal that, in the SSA's countries, urbanization, economic growth, industrial structure, trade, and population, excluding energy intensity, which failed the significant test, all positively influence CO2 outflows, in line with the spatial econometric model's findings. Thus, energy intensity shares an adverse impact on carbon emissions. As an outcome, energy intensity reduces carbon dioxide emissions in nearby nations and the entire region. Thus, the study recommends that policymakers account for the effects of spatial spillover when establishing low-carbon policies, encouraging a low-carbon lifestyle, promoting environmentally friendly technologies, and improving regional collaboration. [ABSTRACT FROM AUTHOR]

This study analyses the impact of GDP per capita, domestic credit, savings, and population on the environment in Pakistan from 1995 to 2019. The country has consistently been ranked eighth, fifth, and eight as an environmentally vulnerable nation from 1998 to 2017, 1999 to 2018, and 2000 to 2019, respectively. Therefore, the study explores the role of environmental awareness as a potential strategy for making peace with nature. Findings of the ARDL bounds testing approach confirm the long-run cointegration among variables of concern. In further assessment, the study determines that increased per capita income is detrimental to environmental quality in the long run. However, in the short run, it shows a favourable impact. On the other hand, domestic credit worsens the environment in the long and short runs. However, savings are positively insignificant in this regard. Furthermore, the total population significantly harms the environment in the long and short run. Fortunately, environmental awareness has emerged as a key solution to environmental degradation in Pakistan. Findings show that an increase in the dissemination of environmental awareness through the Internet, mobile, and landline phones, as well as by increasing education expenditures, mitigates the populations' detrimental impact on the environment and improves environmental quality in the long run. [ABSTRACT FROM AUTHOR]

The emotional turn in geopolitical decision is often overlooked in academia. However, emotions have had a significant impact on the major geopolitical events. In the current geopolitical landscape of the Indo-Pacific region, some democratic nations, including the United States, India, Japan, and Australia, harbor fear of China's rise. China's economic growth, military expansion, and offensive foreign policy instilled fear in the Indo-Pacific region. In the fear of China, Indo-Pacific geopolitics is reshaping. When the new dynamics of the Indo-Pacific are counter to China fear, it is important to explore why China's rise is a matter of fear and anxiety to some nations in the Indo-Pacific. This article uniquely discusses how emotion can unify nations and contribute to establishing new a global order. Without knowing the emotional turn of the geopolitics in the Indo-Pacific, our comprehension of the new landscape remains incomplete. This article aims to explore and understand the impact of emotions on the geopolitics of the Indo-Pacific. [ABSTRACT FROM AUTHOR]

This research examines the impact of trade related to global value chains (GVCs) and the COVID‐19 pandemic on economic growth. To achieve this, we analyse a panel of 60 countries spanning from 2007 to 2021. Various models are estimated using the system generalized method of moments technique. The primary findings are as follows: Firstly, GVC trade is identified as a positive and beneficial factor influencing economic growth. Secondly, the interaction between COVID and GVCs reveals that GVCs continue to have a positive impact on economic growth even during the pandemic. Lastly, consistent and comparable results are observed across different GVC components, sectors and country groups. These outcomes provide valuable insights for policymakers, emphasizing the importance of GVC trade in fostering economic growth. [ABSTRACT FROM AUTHOR]

The globe is now in ecological turmoil as a result of the unrelenting increase in global warming. As a result, governments worldwide are committing to decarbonizing the environment, with the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) playing an important role in this effort. Hence, this paper evaluates the nonlinear (asymmetric) impact of natural gas consumption on renewable energy consumption and economic growth in the KSA and the UAE utilizing data stretching from 1990 to 2020. The study also considers other drivers of renewable energy consumption and economic growth, such as trade openness and CO2 emissions. The study utilizes nonlinear autoregressive distributed lag (ARDL) to evaluate these associations. The outcomes of bounds nonlinear ARDL (NARDL), affirm the long-run association between the variables in both countries. The nonlinear results show that positive and negative shocks in natural gas consumption have a negative impact on renewable energy in both UAE and KSA. In contrast, positive and negative shocks in natural gas consumption impact economic growth positively. The study proposed vital policy recommendations based on these results. [ABSTRACT FROM AUTHOR]

Green governance in heavily polluting industries is crucial for achieving sustainable economic growth. By analyzing Chinese A‐share listed companies from these industries between of 2010 and 2021, we assess the influence of multiple shareholding institutional investors (MSII) on a company's environmental performance. We find that MSIIs can improve environmental performance, highlighting their positive role in green governance. Further analyses reveal that this green influence stems from three key effects: supervisory oversight by principal shareholders, managerial incentives, and knowledge transfer. Consistent with the risk‐averse hypothesis, our study also suggests that MSIIs could drive the green transformation of heavy‐polluting industries out of risk aversion. [ABSTRACT FROM AUTHOR]

Green entrepreneurial orientation (GEO) plays a pivotal role in reconciling economic growth with environmental sustainability. This research focuses on the individual green entrepreneurial orientation (IGEO) of mid‐level managers. In particular, it aims to explore how individual, environmental, and organizational factors foster IGEO. The data were collected from a total of 102 small‐ and medium‐sized enterprises (SMEs), as well as 510 mid‐level managers operating within Taiwan's environmental protection sector. Subsequently, the gathered data were analyzed using hierarchical linear modeling (HLM) techniques. The study found that green opportunity identification and entrepreneurial motivation notably influence various aspects of IGEO. In addition, elements like a green institutional environment, corporate green resources, and corporate environmental policies significantly boost IGEO. However, no significant links were found between a green institutional environment and green innovativeness or between corporate environmental policies and green proactiveness. This study provides a valuable contribution to GEO research, specifically focusing on SMEs and environmentally sustainable initiatives within developing economies. [ABSTRACT FROM AUTHOR]

The influx of international tourists may affect the economic growth of destination countries by influencing the quality of life (QoL) of residents, the effects of which are unclear ex ante. Therefore, this study utilises the autoregressive distributed lag model to examine tourism‐induced growth by taking into consideration the residents' QoL using Singapore as a case study. We also consider the factor of heterogeneous tourism demand by regions of origin in a market‐based analysis using seemingly unrelated regression, motivated by the assumption that consumers from different markets differ widely over their preferences. This study seeks to contribute to an understanding of tourism as a source of sustainable economic development and as such provides important policy implications for practitioners and scholars alike. [ABSTRACT FROM AUTHOR]

Openness to international trade is often conducive to long-term economic development. Indeed, thanks to trade instruments based on an effective and selective policy of openness, and to human capital that is both qualified and specialised, trade liberalisation is a key determinant of healthy and progressive economic growth. The aim of this article is to study the nature and direction of causal relationships in a dynamic framework, between the variable to be explained (trade openness) measured by the volume of exports and imports as well as by human capital, and the variable to be explained (economic growth) measured by GDP at the level of Morocco. In this respect, we will attempt to examine this causal relationship in the Moroccan context. From this perspective, our question, which remains important, can be formulated as follows: To what extent does trade openness promote economic growth in Morocco? In order to find more relevant answers to our question, we carried out a mixed analysis (both theoretical and empirical) based on mortgagedeductive reasoning derived from a purely positivist posture, on the one hand, and, on the other, we applied econometric modeling to the case of Morocco, based on the ARDL approach. The data collected is annual and covers a period from 1985 to 2020. It was gathered from the HCP and World Bank databases. To do this, we used the ARDL method. The results received by the econometric modeling and the tests that verify the relationship and the direction of causality indicate that trade openness have a positive influence on Moroccan economic growth. [ABSTRACT FROM AUTHOR]

As China's economy transitions from a stage of high-speed growth to a stage of high-quality development, the concept of low-carbon and green economic development has gained increasing popularity. Mastering the regional differences and changing patterns of low-carbon economy and economic growth quality is an important prerequisite for further promoting low-carbon economic development and improving the quality of economic growth. Taking the data of 21 prefecture-level cities in Guangdong Province from 2008 to 2019 as examples, we calculated the low-carbon economy and the quality index of economic growth, and analyzed the convergences between them through coefficient of variation analysis and a panel data convergence model with fixed effects. The results showed that: First, the convergence of low-carbon economy was better than the convergence of economic growth quality. Second, the low-carbon economy of Guangdong Province had σ convergence, and the imbalance between regions of low-carbon economy was alleviated, but the quality of economic growth of Guangdong Province did not have σ convergence. Third, there was absolute and conditional β convergence in the quality of low-carbon economy and economic growth in Guangdong Province. Fourth, the convergence rate of low-carbon economy in Guangdong Province showed "club difference"; the same was true of σ convergence, absolute β convergence, conditional β convergence, and dimensional convergence of economic growth quality in various regions of Guangdong Province. The exploration conducted in this article was conducive to better grasping the changing patterns of low-carbon economy and economic growth quality, enriching relevant research. The conclusions of this paper can provide decision-making basis for China to formulate urban and regional economic policies, achieve high-quality economic development, and "double carbon goal". [ABSTRACT FROM AUTHOR]

Purpose: Human capital is a portfolio of rich skills that the labour possesses. Human capital has attracted significant attention from scholars. Nevertheless, empirical findings on the utility of human capital have often been divided. To address the research gap in the literature, the authors attempt to understand how human capital plays a significant role in financial development and economic growth nexus. Design/methodology/approach: The authors rely on secondary data published by the World Bank. The authors use econometric tools such as the autoregressive distributive lag (ARDL) model and related statistical tests to study the relationship between human capital, India's financial growth and gross domestic product (GDP) growth. Findings: Study findings suggest that human capital and financial development contribute significantly to economic growth. Further, the authors found that human capital has a positive and significant moderating effect on the path of joining financial development and economic growth. Practical implications: The study contributes to the human capital debate. Despite the rich body of literature, the study based on World Bank data confirms the previous findings that investment in human capital is always useful for the financial and economic growth of the nation. Originality/value: This paper reveals some unique findings regarding effect of financial development and economic growth nexus which opens the window of new dimension to think about their nexus. It also provides a different pathway to foster the economic growth by using human capital and financial development as together, especially in India. [ABSTRACT FROM AUTHOR]

Technological advance is often embodied in capital inputs, like computers, airplanes, and robots. This paper builds a framework where capital inputs advance through (i) increased automation and (ii) increased productivity. The interplay of these two innovation dimensions can produce balanced growth, satisfying the Uzawa Growth Theorem even though technological progress is capital-embodied. The framework can further address structural transformation, general-purpose technologies, the limited macroeconomic impact of computing, and declining productivity growth and labor shares. Overall, this tractable framework can help resolve puzzling tensions between micro-level observations of innovation and balanced growth while providing new perspectives on numerous macroeconomic phenomena. (JEL E22, E23, E24, E25, L16, O33, O41) [ABSTRACT FROM AUTHOR]

Significant demand for ecological services and diminishing environmental issues pose severe threats to the existence of humanity. Some scholars believe that the rapid development of financial sectors may add to this problem. Therefore, this study evaluates the impact of disaggregated financial development on the ecological footprint of the Next-11 countries using the panel data from 1995 to 2019. For in-depth empirical analysis, financial development is divided into three categories: banking sector development, insurance market development, and stock market development. Each class comprises four indicators, and the composite index is constructed using principal component analysis. Results of the unit tests indicate that variables are stationary at mix orders some variables are stationary at the level and others are stationary at the 1st difference. By utilizing DCCE and AMG estimations model. The study has confirmed the existence of the Environmental Kuznets Curve (EKC) hypothesis in sampled countries by showing the inverted U-shaped relation between economic growth and ecological footprints. The results also revealed that both stock market development and banking sector development decrease ecological footprints and could help protect the quality of the environment. Furthermore, the findings show that municipal is inseparably linked to environmental adversity in the Next 11 countries. Therefore, to safeguard the ecological footprint in the Next-11 countries, sustainable practices with green financial development accompanied by green urbanization are among the appropriate solutions. [ABSTRACT FROM AUTHOR]

As a politically and culturally important city cluster, the Beijing–Tianjin–Hebei region (BTH) has huge electricity and water consumption, while the local power generation capacity and water resources may not be sustainable long term according to the current power generation ratio. We introduced up-to-date strategic policies in China, carbon peaking and carbon neutrality (dual carbon goals), to assess their impact on environmental protection and economic development. Thus, we constructed a dynamic multi-regional computable general equilibrium model to simulate these changes in BTH. We designed four carbon reduction scenarios to explore the impact of policies including carbon taxes, investment, and renewable energy subsidies individually or combined. The findings reveal that implementing these policies together can increase the proportion of renewable energy in power generation to 17.2% (Beijing), 9.4% (Tianjin), and 33.2% (Hebei) by 2060. Under various policy scenarios, the Tax Scenario shows the largest water withdrawal savings, while the Investment Scenario shows the largest GDP growth by 2060. The combined implementation of these policies may minimize the negative impact on the economy while developing an environmentally friendly region. The results of the Combination Scenario are closest to carbon neutrality, narrowing the gap to 10.71%, 9.98%, and 9.85%, respectively. Conservation (water and electricity) and carbon reduction can provide significant support for carbon neutrality and sustainable development strategies. This study contributes to the evaluation of mitigation policies in BTH and provides a concrete policy option to achieve carbon neutrality. [ABSTRACT FROM AUTHOR]

This paper investigates whether carbon dioxide (CO2) intensity of gross domestic product (GDP) matters for environmental deregulations in Southern European countries over the period of 1990–2018 while controlling economic growth, globalization, and energy consumption. The present study uses the second generation panel based techniques, namely cross-sectional dependency test, cross-sectional unit-root test, Westerlund cointegration test, augmented mean group and common correlated effects mean group estimators, and Dumitrescu–Hurlin causality test to measure the effect of CO2 intensity of GDP, economic growth, globalization, and energy consumption on environmental degradation. The empirical finding of the present study reveals that the CO2 intensity of GDP is an important factor in determining environmental degradation in South European countries, as the outcomes show that a 1% boost in CO2 intensity of GDP is causing a 1.7728% increase in CO2 emissions. Moreover, a 1% increase in economic growth caused a 0.2568% boost in CO2 emissions. The result is crucial for policy decision-making and can perhaps be applied to take decisive policy actions to mitigate environmental issues. [ABSTRACT FROM AUTHOR]

This paper studies the Hong Kong economy from a trade intermediary's perspective. Using a structural vector autoregression (SVAR) framework, we discover that trade‐related external shocks mainly affect the economy through re‐exports channel over the offshore trade channel. We observe that re‐exports shock does not transmit to the real economy through the employment channel. A puzzling phenomenon is that trade‐related employment has been in decline since 2008. Moreover, we notice that although the Sino‐U.S. trade war exerted much downward pressure on economic growth between 2018 and 2019, the trade intermediary sector swiftly recovered in 2020, reflecting the versatility of the external trade sector in Hong Kong. [ABSTRACT FROM AUTHOR]

Set aside programs, which preference disadvantaged businesses, have long been among the largest government equity programs in the United States. Set asides ensure government revenues spur economic growth in firms and communities that have traditionally lacked representation in systems of power. However, there has been skepticism about whether set aside programs are compatible with the efficiency objectives of government contracting. Few empirical studies have assessed the comparative performance of small, disadvantaged businesses and other firms to determine if there are differences. Using contract level data from the Federal Procurement Data System: Next Generation, we test whether set aside contracts are associated with a reduction in the government's ability to secure "best value." We find few performance differences between small, disadvantaged businesses, and other vendors across a range of goods and services, suggesting mutual benefits and no outsized risks when governments engage in contracts with disadvantaged firms. [ABSTRACT FROM AUTHOR]

We study the effect of euro adoption on various property crimes for a group of Eurozone countries with data from 1993 to 2019. We hypothesize euro adoption has a positive association with home burglaries and robberies as the euro is relatively more valuable and mobile than pre-euro currencies. We offer a simple theoretical model to motivate the hypothesis. A dynamic panel data model is estimated by generalized method of moments (GMM) to account for endogeneity, measurement error, heteroskedasticity, and serial correlation. Our results indicate some evidence of a positive relationship between euro adoption and property crimes. Other countries considering euro adoption may find the results of our study informative. [ABSTRACT FROM AUTHOR]

In this study, we apply a detailed country level data in the 1961–2015 period to investigate the relationship between weather variables, CO2, share of renewable energy sources, gross domestic product, and total factor productivity in a standard Cobb–Douglas production function by using an instrumental variable approach. Our findings suggest that economic growth has been positively affected by temperature and CO2 emissions, while climate vulnerability varies significantly between rich‐poor countries. Furthermore, the negative nexus between renewable sources and CO2 emissions demonstrates its importance for optimal environmental policies design while an inverted U‐shaped relationship for temperature and emissions. [ABSTRACT FROM AUTHOR]

Purpose: This study attempts to come in help for Morocco by investigating rigorously the linkage between environmental degradation, measured by ecological footprint (EF), and the gross domestic product growth (EG), the human capital (HC) index and the natural resources (NR) depletion over the period of 1980:Q1 to 2021:Q1. The paper examines the validity of environmental Kuznets curve (EKC) hypothesis in the Moroccan context. Design/methodology/approach: Unlike previous studies, which are based only on the autoregressif dynamic linear (ARDL) model, this paper investigates two recent models: the novel DYNARDL simulation approach and the Kernel-based regularized least squares (KRLS) technics and uses in addition the frequency domain causality (FDC) test. Findings: Models output say a significant and negative association between HC and the EF and a significant and positive interplay between economic growth and environmental quality in the long term. In the short term, findings reveal a significant and negative association between NR and the EF. Based on the FDC test, results conclude about a unidirectional causality from NR to the EF in short-, medium-, and long-term. Moreover, results validate the EKC hypothesis for the Moroccan environment sustainability. Originality/value: In this study, the researchers use the "ecological footprint" as dependent variable to obtain more accurate and comprehensive assessment of environmental deterioration. Based on time series data investigations, this study is the first paper, which validates the EKC hypothesis and develops important policy implications for Morocco context to achieve sustainable development targets. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to examine the effects of financial development on the economic growth of jurisdictions with systemically important Islamic finance. Design/methodology/approach: The authors use several estimation methods. The primary analysis is based on the LSDVC method using a sample of 23 countries covering the period of 2000–2019. Findings: The findings suggest that the financial sector may not be a significant factor in determining economic growth, or that it may decrease it depending on the proxy used. These results are in line with recent studies and robust across different estimation specifications and methods used. Practical implications: Finance practitioners may reconsider the way they conduct their daily activities as their impact on economic growth is fading away. Similarly, policymakers should consider the role that financial development plays in economic growth alongside other factors that may influence its impact. It may be necessary to examine the moderating effects of institutional development on the relationship between finance and growth and consider the channels through which financial development can contribute to economic growth. Additionally, it would be useful to study the impact of Islamic finance on economic growth using different data sources. Originality/value: Although the topic has been explored using different data sets and focusing on different samples, it has not been explored considering the impact of Islamic finance development on economic growth. Given the global appeal of the Islamic finance industry, it is worth investigating its significance for economic growth. [ABSTRACT FROM AUTHOR]

The theoretical literature on the FDI-growth relationship suggests that FDI with high technological content might play a peculiar role. To investigate the existence and magnitude of this peculiar effect, we collected data for 28 countries over the period 1989 to 2019 and used GMM techniques for empirical estimation. We employed the U.N. International Standard Classification (ISIC) Revision 3 to classify FDI data and follow the criteria laid down by the Organization for Economic Cooperation and Development (OECD) to distinguish FDI data by technological content. The empirical findings of this article confirm that technology plays an important role in determining the FDI-Growth relationship. Interestingly, the empirical evidence supports a U-shaped relationship between FDI and economic growth when FDI is disaggregated by different technological contents. More specifically, we find strong evidence that in the manufacturing sector, FDI with a higher technological content exhibits a positive association with growth in the host country. We also find evidence pointing towards a positive relationship between FDI and growth in the host country at the other end of the technology spectrum (low-tech). Further investigation confirms the robustness of these findings across different estimation techniques as well as across different sampling strategies. [ABSTRACT FROM AUTHOR]

By promoting economic growth, human capital may contribute to the rise in CO2 emissions, but it may also stimulate emission‐reducing technologies. Starting from a Green Solow model augmented with human capital, we show that the former effect dominates the latter when human capital is below a critical value, while the opposite is true when human capital becomes sufficiently high. We also find that this result may delay the observability of an EKC and that human capital is more important than savings and depreciation rates in predicting CO2 growth. This evidence has relevant policy implications regarding which factors should be considered to mitigate carbon emissions. [ABSTRACT FROM AUTHOR]

Migration bears a significant relationship with the dynamics of economic growth in developing countries. This study aims to investigate whether the allocation of internal migrant workers to specific regional units, as conducted in this research within East Java Province, Indonesia, yields the anticipated effects. The Heckman two-step estimation method was used in analyzing the impact of migrant workers on economic growth in developing countries. The results of this study indicate that the determinants of migrant workers in East Java are significantly influenced by age, gender, level of education, marital status, presence of family members under the age of 5, description of the category of origin, Gross Regional Domestic Product Based on Current Prices (PDRB ADHK), region of origin, and the number of poor people. The results of the analysis of the significant impact of migrant workers on the economic sector (PDRB ADHK in destination areas) on migrant workers in East Java are migrant workers of productive age, male migrant workers, migrant workers with bachelor/diploma's degree, migrant workers who come from areas with the widest type of floor is in the form of non-timber/soil housing, and migrant workers originating from small-town areas contribute the most to the PDRB of the destination region. [ABSTRACT FROM AUTHOR]

This paper empirically analyses the impact of fiscal policy on the economic growth of the countries of Southeast Europe. The work was carried out with secondary data from the 12-year period and respectively from 2010 to 2021 and includes 11 countries, so the data belongs to the panel type. The purpose of this paper is to analyze social variables such as government spending, income from taxes, public debt, government effectiveness, fiscal freedom, rule of law index, and corruption in economic growth. For this purpose, we employ different econometric models and techniques such as OLS, OLS Robust fixed and random effects models, and GMM (Generalized Method of Moments). The findings from the research show that fiscal policy instruments have a positive impact on the economic growth of the countries of Southeast Europe, while the effectiveness of the government, the rule of law, and corruption show a statistically significant impact on the economic growth of these countries. The recommendations for the countries are for policymakers in the region to prioritize the development and implementation of sound fiscal policies to stimulate economic growth. By strategically managing government spending and taxation, these countries can enhance aggregate demand, encourage investment, and create a favourable business climate. Furthermore, adopting expansionary measures during economic downturns and adopting prudent debt management practices can contribute to stability, confidence, and sustainable growth. [ABSTRACT FROM AUTHOR]

This article investigates the impact of institutional quality on accelerating the energy transition in the Western Balkans. The region's heavy dependence on energy means the transition to cleaner energy sources will affect GDP growth. However, improving institutional quality can speed up the process by increasing energy efficiency, reducing pollution, and decreasing reliance on energy imports. The Western Balkan countries must adopt the EU's goal of energy transition and reducing CO2 emissions as part of their path to joining the European Union. However, institutional factors such as corruption, weak governance, political instability, and the rule of law have hindered individual countries' progress. This study used data from the World Development Indicator and the International Energy Agency from 2005 to 2020 to investigate the relationship between institutions, energy transition, and economic growth in the Western Balkans. The study employed four econometric models using random and fixed effects regression methods. The results revealed a positive and statistically significant impact from CO2 emissions, governance effectiveness, final consumption expenditures, and trade openness in total energy consumption. Conversely, GDP per capita, the deterioration of controlling corruption and political stability have a negative impact on total energy consumption. In contrast, control of corruption significantly impacts renewable energy growth. The findings also revealed that, even though the increase in total energy consumption raises GDP, it negatively impacts GDP per capita due to energy inefficiency and a large portion of the energy expenses from individual incomes. In contrast, renewable energy consumption positively impacts GDP and GDP per capita. [ABSTRACT FROM AUTHOR]

This paper puts forth a new pathway to sustainable policy to upscale the transformative power of local complementary currencies. It first reviews the mechanisms by which complementary currencies re-embed monetary circulation within sustainability and biomimetic resilience criteria. It then puts forth a prototype policy pathway whereby private banks swap SDG impact certificates of their complementary currency loans against new reserve assets held at the Central Bank. It finally provides analytical insight on this prototype policy with a a new PK-SFC model comprising 106 accounting and behavioral equations. Simulations show that the prototype policy generates short-lived economic expansion, increases banking stability, and induces structural change through increased systemic capacity for evolution, resilience, and fitness for evolution. We finally discuss the practical implications of our results for sustainability policies. [ABSTRACT FROM AUTHOR]

With the increase in economic growth, the world is facing serious challenges concerning environmental sustainability. Hence, the green economic growth is imperative for sustainable and inclusive development. The objective of this study is to contribute to the existing literature about the factors that influence green economic growth. The study investigates the role of green technology, green energy, foreign direct investment, and globalization on green economic growth in G7 countries. The data of the study is collected from WDI, KOF Swiss Economic Institute, and OECD database and the data period ranges from 1995 to 2020. The existence of cointegration between the variables of the study was tested by Westerlund's (Oxford Bull Econ Stat 69(6):709–748) cointegration test. Due to the presence of cross-sectional dependency, the study employed the cross-sectional autoregressive distributed lag (CS-ARDL) method to estimate the coefficients in the long and short run. The study also used a common correlated effect—mean group (CCEMG) estimator for robustness check. The findings of the study reveal that green energy and FDI positively contribute to green economic growth in the long and short run. The green technology also contributes positively to enhance green economic growth but only in long run. To accelerate green economic growth, G7 countries should incorporate policies promoting green energy and technology, while acquiring more foreign investments to ensure a sustainable development. [ABSTRACT FROM AUTHOR]

The existing literature on the relationship between infrastructure and economic growth is inconclusive. We estimate the effect on GDP of three main categories of infrastructure – transport, electricity, and telecommunications – using data from 87 countries over the period 1992–2017. This study uses more recent data than previous research and includes new types of infrastructure such as mobile phones. Our main estimates use the PMG estimator that allows us to test for the weak exogeneity of the infrastructure variables. The key finding of the study is that an increase in infrastructure, especially electricity generation capacity and telecommunications, has large long-run positive effects on GDP, though the short-run effects are much smaller and are less than zero for roads and railways. Also, the effects of electricity and communication infrastructure are higher relative to the effects of transport infrastructure in developing economies than in industrialized economies. [ABSTRACT FROM AUTHOR]

Under the influence of market rules, state intervention in development process is obviously necessary, especially in the context of emerging countries with an incomplete and non-mordern market economy toward the global race of sustainability. Applying 2590 enterprises covering 63 provinces and cities in the General Statistics Office, this study aims to evaluate the influence of state on the technical efficiency of enterprises. A fractional regression analysis model is employed purposefully since the technical efficiency of the dependent variable is an estimated randomly variable. The research findings unequivocally indicate a substantial influence of the state on the technical efficiency of livestock product processing companies. Moreover, when studying each specific aspect in isolation to gauge the role of the state, a discernible negative impact is evident on the technical efficiency of these enterprises. Consequently, this study implies that for tangilbe improvements in the technical efficiency of enterprises, the state should adopt a comprehensive approach, simultaneously implementing all aspects that demonstrate its role in the sector. By adopting such a holistic strategy, the state can create a more conducive environment toward development sustainability for improving the technical efficiency of livestock product processing enterprises. [ABSTRACT FROM AUTHOR]