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This paper jointly evaluates the greenhouse gas emissions and economic impacts from producing biofuels in Tanzania. Sequentially-linked models capture natural resource constraints; emissions from land use change; economywide growth linkages; and household poverty. Results indicate that there are economic incentives to convert unused lands to sugarcane-ethanol production, but only grasslands (not forests) have a reasonable carbon payback period. There are also strong socioeconomic reasons to involve smallholders in feedstock production in order to reduce rural poverty, especially since our results indicate that biofuels have little effect on food production. Yet smallholders require more land than large-scale plantations and so face more binding natural resource and emissions constraints. Overall, environmental constraints alter the socioeconomically optimal biofuel strategy for Tanzania by limiting potential poverty reduction. Unlike previous studies, our integrated assessment suggests that a mixed farming system with greater emphasis on large-scale plantations is more appropriate for producing sugarcane-ethanol in Tanzania. [ABSTRACT FROM AUTHOR]

Purpose: The paper underpins an advanced domestic manufacturing that comes with some advanced employment specialization status of individual industries as the key determinant of foreign direct investment (FDI) and considers how FDI in the food processing industry in India relates to this focal point. Design/methodology/approach: This paper investigates how inward FDI inflows relate to domestic investment and revival in the industry using Auto Regressive Distributed lags (ARDL) model over the period 2000–2017. The model allows for different specifications to study whether FDI is responsible for the revival or the prior revival induces the FDI. Findings: The results show the lack of proper advanced specialized employment status of the food processing industry. FDI in food processing is mainly guided by exports and imports opportunities and FDI plays no role in the revival of advanced growth in the industry. This finding explains why FDI in the industry is predominantly service sector oriented. Originality/value: The paper underlines (1) the proper conceptualization of human capital as an important determinant of FDI; (2) reinterpretation of Kaldor's technical progress function that uncovers how employment dynamics embedded in intermediate goods specializations play a key role in supporting a higher pace of investment (and FDI); (3) labor costs' importance should involve not only the wage rate but also the advantages that a specialized employment base and (4) FDI in manufacturing demands a greater policy focus on developing domestic bases of intermediate goods specializations. [ABSTRACT FROM AUTHOR]

The main goal of this investigation is to apply a comparative analysis to look at the influence of green energy and environmental innovation on four environmental indicators. This investigation is based on Saudi Arabia's economy with data spanning from 1990 to 2018. In this study, several econometric approaches were applied, including the unit root test, the cointegration test of Johansen (1988), and the DOLS (Dynamic OLS) estimation methodology. The empirical outcomes demonstrate that (i) the Environmental Kuznets curve (EKC) assumption in Saudi Arabia is not validated; (ii) the unconditional effects of the indicator of economic growth contribute to environmental degradation in all estimated models; (iii) the indicators of green energy use and environmental innovation contribute to environmental improvement but the magnitude of their effects is extremely slight; and (iiii) the net effect of both joint impacts (i.e., the interaction between green energy usage and economic growth as well as between environmental innovation and economic growth) for each estimated model yields a positive sign which implies that the green energy industry is in its immature stage in Saudi Arabia and innovations in green technology require a high status of scientific research to have a major contribution to environmental improvement. In light of obtained results, policy implications are discussed. [ABSTRACT FROM AUTHOR]

This paper examines the linkages of various financial inclusion parameters on economic growth for an emerging economy viz., India to review the policy measures implemented in this sphere. In this context, in addition to standard measures of financial inclusion, this study incorporates auxiliary indicators also like mobile and card statistics, usage of electronic channels, pension and insurance subscribers to obtain a comprehensive assessment of the impact of financial inclusion on economic growth in the Indian economy. Bayesian vector autoregression is applied that is established to provide robust results even in small sample sizes and examines the role played by individual measures of financial inclusion separately on overall growth. It is evidenced that factors like branch network, electronic remittance services, and insurance schemes display a significant role in affecting economic growth in India. [ABSTRACT FROM AUTHOR]

Purpose: The present study provides evidence on export advantages of horticultural commodities based on competitiveness, trade balance and seasonality dimensions. Design/methodology/approach: The study delineated horticultural commodities in terms of comparative advantage, examined temporal shifts in export advantages (mapping) and estimated seasonality. Product mapping was carried out using the Revealed Symmetric Comparative Advantage (RSCA) and Trade Balance Index (TBI). Seasonal advantages were examined through a graphical approach along with the objective tests, namely, modified QS-test (QS), Friedman-test (FT) and using a seasonal dummy. Findings: Cucumbers/gherkins, onions, preserved vegetables, fresh grapes, shelled cashew nuts, guavas, mangoes, and spices emerged as the most favorable horticultural products. India has a strong seasonal advantage in dried onions, cucumber/gherkins, shelled cashew nut, dried capsicum, coriander, cumin, and turmeric. The untapped potential in horticulture can be addressed by handling the trade barriers effectively, particularly the sanitary and phytosanitary issues, affecting the exports. Proper policies must be enacted to facilitate the investment in advanced agricultural technologies and logistics to ensure the desired quality and cost effectiveness. Research limitations/implications: Commodity-specific studies on value chain analysis would provide valuable insights into the issues hindering exports and realizing the untapped export potential. Originality/value: There is no holistic and recent study illustrating the horticulture export advantages covering a large number of commodities in the Indian context. The study would be helpful to the stakeholders for drawing useful policy implications. [ABSTRACT FROM AUTHOR]

The industry of Islamic banking and finance (IBF) has undergone rapid expansion over the past forty years. However, it's imperative that this sector continues to evolve—making sure it aligns with contemporary market trends while staying abreast with modern financial practices. With financial offerings becoming more complex than ever before, adhering closely to shari'ah principles certainly poses a newer level of daunting challenges that need urgent attention in this burgeoning field. Moreover, the infamous products and current shari'ah governance of Islamic banks have been widely debated following the publication of an article titled "Terrible November for Islamic banks" in a reputable newspaper, Prothom Alo, 2022. In order to bridge the gap this study investigates drivers, enablers, and inhibitors of shari'ah‐compliant products and the successful implementation of shari'ah governance for sustainable Islamic banks in Bangladesh. The qualitative data have been collected through in‐depth personal interviews and focus group discussions with 41 well‐known scholars. The analysis shows shari'ah board and research division are required to collaborate to develop shari'ah‐compliant products as outlined in the Qur'an and Hadith. Additionally, a strong legislative framework for shari'ah‐compliant product development and shari'ah governance is essential to promote a sustainable Islamic banking industry. Good shari'ah governance and compliance in a banking institution are significantly dependent on the good intentions of its board members and operational managers. The study offers a legal framework and core value‐based banking that develops unique and fully shari'ah‐compliant products to uphold sustainable development goals (SDGs). Important policy implications are discussed. [ABSTRACT FROM AUTHOR]

Microbiome engineering is an emerging research field that aims to design an artificial microbiome and modulate its function. In particular, subtractive modification of the microbiome allows us to create an artificial microbiome without the microorganism of interest and to evaluate its functions and interactions with other constituent bacteria. However, few techniques that can specifically remove only a single species from a large number of microorganisms and can be applied universally to a variety of microorganisms have been developed. Antisense peptide nucleic acid (PNA) is a potent designable antimicrobial agent that can be delivered into microbial cells by conjugating with a cell-penetrating peptide (CPP). Here, we tested the efficacy of the conjugate of CPP and PNA (CPP-PNA) as microbiome modifiers. The addition of CPP-PNA specifically inhibited the growth of Escherichia coli and Pseudomonas putida in an artificial bacterial consortium comprising E. coli, P. putida, Pseudomonas fluorescens, and Lactiplantibacillus plantarum. Moreover, the growth inhibition of P. putida promoted the growth of P. fluorescens and inhibited the growth of L. plantarum. These results indicate that CPP-PNA can be used not only for precise microbiome engineering but also for analyzing the growth relationships among constituent microorganisms in the microbiome. [ABSTRACT FROM AUTHOR]

Financial inclusion and gender equality are the key constituents of the principle of "leaving no one behind" upheld by the Sustainable Development Goals, which emphasise a holistic approach for the sustainable development of all. Financial inclusion and gender equality are interrelated factors that can influence economic growth in complex ways. In addition to their independent impact on economic growth, there is an active interaction between the two which also plays an important role in determining the level of economic growth. This interaction has been neglected by the existing literature. Based on this gap, the paper investigates the existence and type of this interaction between financial inclusion and gender equality in determining economic growth for a group of 48 developing countries for the period 2004–2019 using the Generalised Method of Moments. The study found a complementary interaction between gender equality and financial inclusion, such that improvements in financial inclusion in the presence of better gender parity have a multiplicative effect on economic growth and vice versa. The study concludes that gender equality creates various pull and push factors for better financial inclusion. Similarly, financial inclusion eliminates gender inequality in access to financial products, exacerbating the influence on economic growth both individually and collectively. Impact statement: This study looks at the complementary role of financial inclusion and gender equality in promoting economic growth in developing countries. The study employs a panel data analysis of 48 countries from 2004 to 2019 using the Generalized Method of Moments to find a substantial complimentary relationship between financial inclusion and gender equality. The findings show that innovations in financial inclusion, combined with greater gender equality, have a multiplier effect on economic development. This study emphasizes the need to increase financial inclusion and gender equality as interconnected methods for achieving sustainable economic growth. The policy implications are considerable, implying that attempts to increase financial inclusion should be complemented by actions to improve gender equality, assuring inclusive and equitable economic growth. This work adds to the current literature by addressing a previously overlooked interaction, providing new perspectives for policymakers, economists, and development practitioners working to promote economic development in developing countries. [ABSTRACT FROM AUTHOR]

Copyright of Transformations in Business & Economics is the property of Vilnius University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

A field experiment was conducted to investigate the effect of calcium nitrate and magnesium sulfate on the growth and tuber yield in potato (Solanum tuberosum L). Experiment was carried out in split-plot design comprising of nine calcium nitrate and magnesium sulfate treatments i.e. T1- Ca(NO3)2 @0.5%, T2- Ca(NO3)2 @ 1%, T3- Ca(NO3)2 @ 2%, T4- MgSO4 @ 0.5%, T5- MgSO4 @ 1%, T6- MgSO4 @ 2%, T7- Ca(NO3)2 @ 1% + MgSO4 @ 1%, T8- Ca(NO3)2 @ 2% + MgSO4 @ 2%, T9- Control on two potato varieties i.e. Kufri Jyoti and Kufri Chandramukhi. Data collected on different parameters were analyzed using CPCS1 software. Among all the calcium nitrate and magnesium sulfate treatments, application of Ca(NO3)2 @ 2% + MgSO4 @ 2% was found to be the best for most of the parameters studied and between the varieties Kufri Jyoti was found highly significant for the different parameters under study. Hence it can be concluded that commercial cultivation of potato in the central region of Punjab can be successfully supplemented with application of Ca (NO3)2 + MgSO4 and variety Kufri Jyoti. [ABSTRACT FROM AUTHOR]

India and China are two Asian emerging economies, the unprecedented growth of which have led many to argue that in the face of slowdown in growth of the North these emerging economies will act as the new growth drivers for the South. However, not much empirical evidence is available to support this argument. This article estimates the growth linkages between the developing Asia and the two Asian emerging economies in terms of co-integration and causation in their growth rates. Both short-term and long-term relationships are tested between growth of China and India with growth of the developing countries of Asia for the period 1970-2009. The issue of whether these countries can provide market for the South is also examined. The results show that whereas China has acted as a growth driver for the developing Asia, no empirical evidence of this is found for India.L'Inde et la Chine sont deux pays asiatiques émergents dont la croissance sans précédent laisse penser à beaucoup que, dans le contexte du ralentissement au Nord, ces économies émergentes agiront comme de nouveaux moteurs de croissance pour le Sud. Il existe cependant peu de preuves empiriques à l'appui de cette thèse. Cet article propose une estimation des liens de croissance entre l'Asie en développement et les deux économies asiatiques émergentes, en termes de co-intégration et de causalité entre leurs taux de croissance. Nous testons les liens, à court et à long terme, entre la croissance de la Chine et de l'Inde et celle des pays d'Asie en développement sur la période 1970-2009. La question de savoir si ces pays peuvent constituer un marché pour le Sud est également examinée. Les résultats montrent que la Chine joue effectivement le rôle de moteur de croissance pour l'Asie en développement, mais qu'il n'existe aucune preuve empirique que l'Inde joue le même rôle. [ABSTRACT FROM AUTHOR]

Discussions on how best to exit from global imbalances to create a more balanced world economy have ignored the impact on poor countries of proposals to redress these imbalances. This paper aims at filling that gap. It gauges the degree of renminbi (RMB) undervaluation; presents evidence on RMB undervaluation and China's GDP growth rate; surveys the role of the real effective exchange rate - both its level and its stability over time - for underpinning growth in developing countries, especially in large dual economies such as China and India; and finally, presents new evidence on growth linkages between China and poor countries for the last two decades and surveys literature on potential displacement effects of RMB appreciation. The analysis allows broad conclusions to be drawn about the potential developing-country beneficiaries and losers from various renminbi adjustment scenarios in the forthcoming years. [ABSTRACT FROM AUTHOR]

This paper provides a critical analysis of the modelling strategies adopted in the trade–growth literature. Despite a huge number of econometric studies, there is a growing dissatisfaction with such studies and serious questions over what exactly has been learnt from them. Econometric work has been criticized for, amongst other things, its lack of clear relationship to underlying theory and questionable use of proxies for trade policy. It is frequently unclear what hypothesis is being tested in this literature. Universalist assumptions of the effects of trade policy have been undermined by earlier confident predictions of the effects of trade liberalization having not been borne out systematically by the past quarter century experience. This paper argues that the results of econometric analyses of the trade–growth relations are indicative of fundamental difficulties with the cross-country modeling strategy. The failure to find a clear trade–growth relationship consistently across countries and between time periods could, though, provide the starting point for further investigation. Alternative modelling strategies are considered here. An incipient research agenda has proposed a return to the comparative case study approach, incorporating the institutional and historical specificities of each country and thereby (implicitly or explicitly) rejecting universalist or homogeneity assumptions. Nevertheless, such a careful work has not been able thus far to provide a clear research agenda; there has been no consensus on the conclusions or methods of this approach in relation to trade–growth linkages. Whilst this has undoubtedly stimulated further research it has yet to produce a clear corpus of alternative work. This paper provides a critical analysis of the strategies adopted to address the theoretical and econometric critiques advanced of this work. [ABSTRACT FROM PUBLISHER]

This paper longitudinally examines the relationship between the career reasons of nascent entrepreneurs, their growth preferences and subsequent growth achieved. The longitudinal design allows for examination and control of both survivorship and recall bias upon career reason and growth linkages. Substantial recall bias was observed in the career reasons of entrepreneurs, with the reported importance of self-realization and financial success, as explanations for entering venturing activity, being significantly lower when responses were obtained once the venture was operational. Consistent with economic motives, the importance that the entrepreneur places on financial success was a key determinant to explain cross-sectional differences in growth preferences of the entrepreneur, the intended size of the venture, and achieved growth. Further, the importance of financial success was robust to the use of both prospective and retrospective career reasons. While independence was the most important factor to explain the career choices of nascent entrepreneurs, independence was also found to be negatively associated with intended and achieved employment growth. Overall, the findings demonstrate that nascent entrepreneur career reasons for self-employment are not homogeneous, vary by growth intentions and preferences, and are associated with subsequent venture growth achieved. [ABSTRACT FROM AUTHOR]

This paper aims to extract empirical regularities from the extensive but often contentious econometric literature on the relationship between military expenditure ('milex') and socioeconomic development in the Third World, with special reference to Africa. It finds that African states invest in defence at low levels by global standards, and their defence burdens correspond to political, security, and economic realities. Security conditions are the main drivers of military spending, which in turn produces a complex mix of socioeconomic effects. Such relationships are not uniform across large heterogeneous groups of countries, but are mediated systematically by specific structural economic, political, and security conditions (eg resource-rich versus resource-constrained, conflict vs non-conflict, arms producers versus arms importers). Presumably, other yet-to-be-hypothesised intervening factors will also prove to be determinants of milex-development patterns among Third World and African countries. We can state with confidence that (1) milex produces a mix of both positive and negative effects that vary across countries; (2) its overall effects, whether positive or negative, are usually not pronounced; and (3) the modal economic impact of defence spending in the Third World is slightly negative, more so in Africa. Negative relationships between defence and development are most evident and severe in countries experiencing legitimacy/security crises and economic/budgetary constraints. Among the implications of these findings are that 'one size fits all' analytical or policy models of defence - development relationships are problematic and prone to failure. Considering that milex provides a public good (security), its negative socioeconomic effects are not excessive, at least in states enjoying higher legitimacy, socioeconomic standards, and peace. Ironically, states that enjoy relative peace and plenty reap more economic benefits from defence spending, while those afflicted by conflict and poverty pay higher economic costs for their defence. In the larger scheme of things, conflict- and poverty-reduction efforts will likely produce more beneficial milex-growth linkages than well-intended appeals to reduce military spending in favour of development. [ABSTRACT FROM AUTHOR]

There is a growing literature documenting the link between parental migration and children's health. However, few studies have explained the underlying mechanism of this observed relationship. This paper examines the effect of parental migration on children's health through dietary diversity, using survey data collected in a less developed prefecture in South Central China in 2018. To overcome the potential endogeneity of parental migration, we instrument parental migration with the proportion of households with migrated labor force at the village level, and find that parental migration reduces children's dietary diversity at home. Moreover, we provide suggestive evidence that the reduction in dietary diversity may attribute to significant negative separation effects whereas minimal positive income effects in migrant-sending households. This study highlights the negative effects of labor migration on the next generation's nutrition. In those developing countries with a high prevalence of labor migration, policies that facilitate access to dietary diversity of those left-behind children are warranted. [ABSTRACT FROM AUTHOR]

One of the most important lessons of the global financial crisis in 2008 was the importance of maintaining financial stability and systematic risk containment. At the same time, most developing economies are seeking to increase the inclusiveness of their financial systems. Financial inclusion is critical to inclusive growth and provides policy solutions to remove barriers that exclude people from financial markets. In this regard, the main purpose of this study is to investigate the effects of financial inclusion and the size of the shadow economy on the economic growth in MENA countries during the period of 2008-2018. The results of spatial panel model estimation show that financial inclusion has a positive and significant effect on economic growth. This means that financial inclusion is an effective tool in strengthening rapid economic growth. The positive relationship between financial inclusion and economic growth shows that increasing banking penetration, availability of banking centers and geographic penetration can strengthen economic growth in the long run. Also, in the studied economies, the size of the shadow economy has a significant negative effect on economic growth, and this shows that the shadow economy is an obstacle to economic development. [ABSTRACT FROM AUTHOR]

Coping with climate change (CC) is part of the way to face this phenomenon. This depends on the understanding of CC and the degree of adaptability to it. The research was conducted with the aim of measuring the level of nomads' understanding (NU) of CCe and their adaptation strategies (AS) in the face of CC. The research was descriptive and the data collection tool was a questionnaire whose items were obtained based on interviews. NU of the effects of CC is not the same. According to them, CC has had the most obvious impact on vegetation. The priority of AS is also different in the face of CC. A positive relationship was observed between understanding the effects of CC and the degree of adaptability in facing CC. Nomads who had a better understanding of the effects of CC have used livestock management strategies to adapt to it. Age and history of animal husbandry had a positive relationship with the level of understanding of the effects of CC. A negative and significant relationship was also observed between the number of animals and the degree of compatibility. The NU of CC and its effects on the ecology of the environment is an important starting point in dealing with the negative effects of CC and choosing appropriate strategies to adapt or deal with it. So that the selection of suitable adaptation methods by the nomads reduces the vulnerability of CC on the condition of livestock and rangeland. [ABSTRACT FROM AUTHOR]

This paper investigates the nexus between financial inclusion and economic growth in Tunisia. It uses three dimensions of financial inclusion; the first is the access to financial services, the second is the availability of financial services, and the third is the usage of the financial services, while GDP per capita is used as a proxy for economic growth. The paper finds a low level of financial inclusion index in Tunisia by using the autoregressive distributed lag model (ARDL) for cointegration. The paper finds a negative relationship between the majority of financial inclusion indicators and economic growth during the period 2005–2017. This fact emphasizes that more efforts need to be done to enhance and extend financial inclusion in Tunisia through financial literacy, costumers protection, providing financial services to rural areas, and engagement of low-income people in formal financial services, especially via the informal sector. [ABSTRACT FROM AUTHOR]

Copyright of International Research Journal of Business Studies is the property of Prasetiya Mulya Publishing, Universitas Prasetiya Mulya and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We study the relationship between ultrahigh‐speed broadband coverage (≥100 Mbps) and population change in rural areas. Our goal is to determine whether improved telecommunications infrastructure can help to mitigate rural de‐population. The study focuses on Spain during the years 2013–20, a period when most of the country's broadband network was deployed. We use instrumental variable estimation to test for a causal link between ultrahigh‐speed broadband provision and rural population change. Although the data show a positive correlation between an increase in local ultrahigh‐speed broadband coverage and local population growth, after accounting for potential confounding factors and endogeneity, we find no evidence of a causal effect. [ABSTRACT FROM AUTHOR]

Context. Good body condition in juvenile marine mammals is crucial for survival and, therefore, population demography. Australian fur seals, endemic to Australia, recently established a breeding colony at the southern edge of their range, at The Needles, a small group of islands in southwest Tasmania (43.6614°S) and a significant distance from their core breeding range in Bass Strait. Aims. We aimed to compare pup body condition at two breeding colonies, distinct in time since establishment and latitude. Specific aims were to: (1) establish the timing of peak pupping, to compare condition of known-age pups, and determine a baseline at The Needles; (2) investigate pup body condition over time at an established colony; and (3) gain insight into the effects of environmental conditions on pup body condition. Methods. We conducted a colony comparison of pup body condition using condition indices at The Needles and an established breeding colony in Bass Strait, Tenth Island, for the 2019/20 and 2020/21 breeding seasons. Pup body condition was quantified at Tenth Island over 18 years (2003–2020) using a long-term morphometric dataset. To establish breeding phenology at these two colonies, we determined peak pupping date for the 2019/20 breeding season using daily pup counts. We assessed the effect of environmental parameters on body condition for the long-term dataset. Key results. Pups from The Needles displayed significantly higher body condition than those from Tenth Island, despite similar peak pupping date. Breeding phenology was consistent with published timing for Australian fur seals. Pup body condition at Tenth Island over the 2-year colony comparison was comparable to the historical average. Environmental drivers that affect maternal foraging efficiency are linked to pup body condition. Conclusions. Higher pup body condition at The Needles is likely underpinned by better foraging conditions resulting in increased pup provisioning levels. Our results indicate that south-west Tasmania is a region of foraging and emerging breeding importance for Australian fur seals. Implications. Future research to monitor pup body condition, maternal foraging behaviour and ecosystem productivity at The Needles will help to provide greater understanding of likely population trajectories at this southernmost breeding site for Australian fur seals. [ABSTRACT FROM AUTHOR]

This paper examines the effect of foreign direct investment (FDI) inflows on overall growth, as well as its sector‐specific spillovers in the Middle Eastern and North African region during the period from 2000 to 2020. Our major innovation is our ability to disaggregate FDI into primary, secondary and tertiary and examine their individual impact on growth, as well as their sector‐specific spillovers by using dynamic panel GMM methodology. We find prima facie evidence that total FDI significantly stimulates growth. However, when we turn to the disaggregated FDI data, primary sector FDI adversely affects the gross domestic product (GDP) growth in the service sector and overall GDP growth. On the other hand, secondary FDI has a 'double‐edged' effect, benefiting its own sector (the service sector's GDP growth), but not other sectors. In contrast, service sector FDI stimulates GDP growth in mining, manufacturing and service sectors, thereby enhancing overall economic growth. Our findings have important policy implications regarding the incentives provided by governments to encourage FDI, which need to be fine‐tuned to attract certain types of FDI (tertiary), with less focus on the primary sector [ABSTRACT FROM AUTHOR]

South Africa dreams of eradicating poverty and achieving equitable distribution of its scarce resources among its citizens by 2030. Economic growth sustained over time is crucial in achieving its developmental goals. Domestic savings provide a cheap source of resources for investment that would sustain economic growth. This study explored the relationship between South Africa's aggregate national savings and aggregate national income from 1987 to 2021. The study utilized Solow's bivariate model and error correction-centered causality to ensure the robustness of the study results while testing the relationship between saving and economic growth. The study confirmed that aggregate national saving was positively related to South Africa's economic growth. In the short run, deviations from the long-run paths were partly corrected in the present period. In addition, the study found aggregate national saving Granger caused short- and long-term economic growth. The general policy recommendation is that the Government of South Africa should remove bottlenecks to aggregate national saving mobilization efforts by implementing pro-saving fiscal and monetary policies. High saving rates will stimulate income growth through investments in productive sectors, reducing poverty and inequality. [ABSTRACT FROM AUTHOR]

The goal of the paper is to analyze and evaluate the demographic development trends in Bulgaria as well as to identify demographically problematic rural areas and the consequences of their development. Based on information from the National Statistical Institute, the demographic processes in the rural areas of Bulgaria for the period 2011-2021 are analyzed. The obtained results show the high rate of population decline in some regions of Bulgaria and the unfavorable values of the coefficients for demographic dependence and replacement. Rural areas of our country are experiencing faster depopulation than cities. This leads to significant territorial disparities in the manifestation of the observed processes. The last part emphasizes the need to implement regional demographic policies aimed at stimulating families with children and reforming professional education. It is also recommended to implement a proactive immigration policy to attract Bulgarians living abroad and immigrants from third countries with the necessary educational and professional qualifications to reduce the negative effects of the labor shortage in rural areas. [ABSTRACT FROM AUTHOR]

The agricultural sector in Iran, like other developing countries, is important in several ways. This sector accounts for a significant share of the country's economy and accounts for a much larger share of labor employment. Hence, the added value and welfare created per capita of labor in this sector is less than other sectors. In this regard, it is necessary to upgrade its production capacity and create added value. In this study, an attempt is made to measure the effect of various factors on the value added of the agricultural sector during the period 1967-2017 using the production function method and the ARDL model. The results showed that in the long run, for one percent increase in physical capital, natural resources, human capital and knowledge and technology, the value added of the agricultural sector will increase by 0.44, 0.20, 0.75 and 0.12 percent, respectively. Due to the declining trend of increase in physical capital, the necessary policies should be adopted to enhance investment. In general, the agricultural sector needs sufficient capital, based on appropriate knowledge and technology, and skilled and capable workers. [ABSTRACT FROM AUTHOR]

Existing literature on optimizing inventory levels in pharmaceutical supply chains has focused on a limited set of drivers. However, the global supply chain disruptions produced by the Covid-19 pandemic demonstrated the need for a more nuanced picture of the inventory management drivers in this sector to identify profitable inventory configurations while fulfilling demands and safety margins. To address this gap in the literature, this paper identifies key drivers impacting inventory levels and develops a framework for assessing inventory configurations in pharmaceutical supply chains. The framework is tested using a single case study approach. The case study showed that while external and downstream supply chain factors were recognized as being critical to pursuing inventory reduction initiatives, internal factors prevailed when making inventory management decisions. The framework developed in this paper may assist practitioners in identifying the most important factors impacting inventory levels within a specific pharmaceutical supply chain configuration and is in use in the industry today. [ABSTRACT FROM AUTHOR]

This paper analyses the relationship between household debt and income inequality in South Africa for the period 1980–2021. We use two measures of inequality and estimate a vector error correction model (VECM) which includes household debt, inequality, and other macroeconomic variables. To test the robustness of our results, single equation models are used, which estimate household debt as a function of inequality and macroeconomic factors. We employ two measures of inequality, namely Gini coefficient and ratio of top and bottom income earners' proportion of income. Furthermore, we use both household debt as a percentage of disposable income and household debt service costs as dependent variables in single equation regressions. The study finds a negative and significant relationship between household debt and income inequality in the long run, which contradicts the Rajan hypothesis in the South African case. Rather, we find that inequality in South Africa creates a bias in debt allocation towards high-income earners, whose incomes can easily absorb the extra debt (reduced ratio of debt to disposable income). There are therefore no socio-equity considerations in South African credit markets. We find growth in gross domestic product (GDP) per capita also has a moderating effect on the relationship between household debt and income inequality. High GDP per capita growth in the presence of high inequality reduces the impact of inequality on household debt and vice-versa. All other control variables take expected signs. These results are robust to changes in the inequality or household debt measures. [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article focuses on the book "Long-Run Economic Growth," edited by Steven Durlauf, John F. Helliwell and Baldev Raj. This book contains nine papers which, discuss long-run economic growth. Contributions examine the testable implication of various growth theories and modeling and identification of common shocks; international trade and growth linkages; analysis of comovements and convergence at regional level of incomes; and public services, money, and growth linkages.

While the role of agricultural productivity in alleviating poverty and enhancing household well-being is widely acknowledged, the micro-level evidence on the relationship between smallholder productivity and rural household welfare remains scarce in sub-Saharan Africa. Utilising three-wave comprehensive panel data from rural Ethiopia, this paper offers valuable insights into the effect of maize productivity on rural household welfare. We use both fixed-effects and correlated random-effects IV estimators to account for unobserved heterogeneity and endogeneity. Our findings reveal that increased maize productivity leads to higher household income, enhanced maize consumption, and greater asset ownership, ultimately reducing rural poverty. Notably, the welfare gains from maize productivity vary among farm households, with the most substantial effects observed among advantaged households, particularly those headed by male farmers and those with a more favourable economic standing in terms of poverty status. These results not only hold promise for poverty reduction through intensified agricultural practices in rural Ethiopia but also emphasise the necessity for targeted interventions to ensure equitable distribution of welfare benefits. [ABSTRACT FROM AUTHOR]

Development agencies and international donors' efforts are increasingly focusing on better integrating poor and remote farmers into agricultural markets to address the chronic issues of rural poverty and hunger in low‐ and middle‐income countries. Using systematic methods for information retrieval, critical appraisal and evidence synthesis, this research aims to examine evidence on the effects of five focal types of agricultural market access interventions: (i) farm‐to‐market transport infrastructure interventions; (ii) output market information interventions; (iii) initiatives creating new marketplaces and alternative marketing opportunities; (iv) contract farming initiatives; (v) interventions improving storage infrastructure. In this review, we will study evidence of the magnitude and direction of intervention effects on agricultural, socio‐economic, and food and nutrition security outcomes. We will examine evidence of the distribution of reported effects across different contexts, interventions and sub‐groups of the population (e.g., according to sex, socio‐economic status, farm size, etc.). We will also report on included studies' risk of bias and on what evidence is available on intervention costs, or their cost‐effectiveness. This protocol outlines this review's planned methods and the criteria for selecting and including studies in its analysis. [ABSTRACT FROM AUTHOR]

In Europe, there has been a significant shift in the movement of people and things. Nonetheless, despite the fact that transportation is an important component of the supply chain, its environmental consequences pose a severe threat to the ecosystem as a whole. As a result, we intend to explore the relationship between transportation, economy, and CO2 emissions. We used the Static method with Pooled OLS, then tested the Granger causality to validate the use of dynamic approach via the GMM system. The major findings revealed that GDP and trade openness had a considerable impact on CO2 emissions. Although the three modes of transportation have different effects on CO2 emissions, road density has a positive and considerable impact on CO2 emissions. The railway network is inversely connected to CO2 emissions. While the quantity of flight passengers has no substantial effect on emissions. In terms of the impulse response function, there is an initial shock in period 2 for the response of air passengers carried to CO2 emissions, followed by convergence back to zero in period 6, whereas road density has a slight decrease in period 2 with a post shock peak in period 4, followed by convergence back to zero in period 5. The variance decomposition results reveal a little increase until the fifth period for road density, air passengers, and trade openness with coefficients equal to 0.0893, 0.636, and 1.573, respectively, after which these three variables offer decreasing coefficients. [ABSTRACT FROM AUTHOR]

How does agricultural insurance affect the modernization of farming in low income countries? We focus on institutional contexts without formal contract enforcement, where smallholders cannot access modern inputs via markets. Instead, farmers can engage in relational contracting with traders to sell their crop and gain access to inputs (as an advance in‐kind payment). Although conventional theory assumes that insurance "crowds in" modern inputs by attenuating investment risk, we demonstrate that insurance reduces the number of farmers receiving modern inputs from traders. Insurance also reduces the quantity of inputs that traders provide to farmers who remain in a relationship. Insurance may impede the uptake of modern inputs when institutions are imperfect. [ABSTRACT FROM AUTHOR]

The present study investigates the sectoral version of Okun's law for oil-rich countries from 2000 to 2019. Using a panel ARDL estimation, namely the CS-ARDL and PMG methods, this study confirms the negative association between the sectoral level of output growth and the unemployment rate. Our findings indicate that the unemployment rate is affected more by the output growth of the services sector than by that of the manufacturing and agriculture sectors. Moreover, we show that the relatively higher proportion of the services sector to the total output growth seems to explain these results. Furthermore, we revealed that oil rents play a significant role in the sectoral Okun's coefficient difference. Finally, this study suggests that the importance of the manufacturing and agriculture sectors should be a crucial factor to be considered in the economic policy agenda in resource-rich countries. Hence, the significant implications for these countries' policymakers are to gain additional benefits from oil sector output, support and strengthen their manufacturing and agriculture sectors, achieve sustainable economic growth, and minimize the adverse effects of oil dependence on the economy. [ABSTRACT FROM AUTHOR]

Purpose: Several studies link Islamic finance to economic growth. There are at least two major limitations in these investigations. First, the proxy used to measure Islamic finance may not represent the whole impact of Islamic finance on economic growth because it only considers a subset of variables like Islamic banks' deposits or sukuk issuance, etc. Second, it is difficult to extrapolate findings to other markets because most studies were conducted in just one nation or a small group of countries. Overcoming these issues is the driving force behind this research. In doing so, the study aims to use the overall Islamic Financial Development Index as a proxy for Islamic finance. The index measures the quantitative growth, knowledge, corporate social responsibility, governance and awareness of the Islamic financial sector. Design/methodology/approach: Using a panel data set of 67 countries starting from 2012 to 2020, this study investigates the relationship between Islamic finance and economic growth. Findings: The authors find that Islamic finance contributes to economic growth. This connection is more robust in Muslim and developing nations than it is in non-Muslim and developed nations. Practical implications: To promote a country's economic growth, the authors propose that regulators should focus on development of Islamic finance. To increase the reach of Islamic products, the government should take initiatives to raise public awareness of Islamic finance. Social implications: The findings imply that Islamic finance may have a more significant impact on socio-economic development in countries with a higher concentration of Muslim population and those in the developing stage. It highlights the potential role of Islamic finance in addressing socio-economic challenges and promoting inclusive growth in these regions. Originality/value: This is the first study to use a more comprehensive sample of countries, covering both Muslim and non-Muslim nations, as well as both developing and developed nations. In addition, this study, unlike its predecessors, used a more robust and comprehensive index of Islamic finance developed by Thomson Reuters. [ABSTRACT FROM AUTHOR]

Purpose: The impact of Islamic finance on economic growth is an ongoing debate. The purpose of this study is to empirically evaluate how the development of Islamic finance affects the long- and short-run economic growth of Pakistan. Design/methodology/approach: The institutional variables, Islamic banking development (IBD), Islamic bond market development (IBM) and Islamic stock market development (ISM), are considered as measures of Islamic financial development, and real gross domestic product (GDP) is taken as measurement proxy of economic growth. The quarter time series data from Q1:2006 to Q4:2021 is analyzed through Autoregressive distributed lag model, Bounds test, ECM and Pairwise granger causality test. Findings: The findings of this study indicate that in the long run, there is a significant and positive correlation between IBD and ISM with the real GDP, though ISM negatively cointegrated with real GDP in the short run. In contrast, IBM and real GDP did not find cointegrated in the long run, though the relationship is significant but negative in the short run. Practical implications: The findings highlight Islamic financial development in Pakistan can contribute to the country's economic development, and this can be achieved by improving the infrastructure, increasing skilled professionals, creating a favorable legal environment and ensuring financial sector stability. Investors can diversify their investments and mitigate risk by adding Islamic financial instruments to their portfolios. Originality/value: This pioneering study simultaneously measures the cause and effect relationship between Islamic financial development indicators (Islamic banking, Islamic bond and Islamic stock) and economic growth in Pakistan. [ABSTRACT FROM AUTHOR]

The role of Rural Non-Farm Sector (RNFS) has been presented and predicted as an essential growth indicator for the rural economy since long. Still the ambiguities exist regarding the already explored dimensions of the sector. This paper represents a holistic picture of the sector by combining thoughts of the scholars regarding the growth, structure, and impacts of the sector on the overall economy and also identifies the unexplored issues related to the sector. The paper finds out that livelihood diversification can be both a coping and a thriving mechanism where it is driven by a growing and more flexible economy. But the "coping" dimension dominates where diversification is an enforced response to failing agriculture, recession, and setback situation of economy. Also, this mechanism questions the quality of employment provided by the sector. Moreover, the coping strategy by RNFS also stands out after and during the pandemic situation. [ABSTRACT FROM AUTHOR]

International remittances remained one major source of international financial resources in the world. Yet very limited empirical studies exist on the impact of these remittances on economic growth, more especially in Ghana. To bridge this void in literature, the study analyzes the impact of remittances on GDP growth in Ghana from 1990 to 2020. The ARDL estimation technique was used to test the long-run association between the selected variables. The results showed that GDP growth rate has a long-run relationship with remittance inflows, foreign direct investment, unemployment rate, inflation, trade, population growth rate and official development assistance. Lastly, the mediating effect of unemployment on remittance inflows negatively affects GDP growth rate in both runs. It is therefore recommended that to ensure sustained GDP growth rate in Ghana, government should consider tapping into the contribution of remittances by ensuring reliable transfer means and cutting down the cost of transfer. [ABSTRACT FROM AUTHOR]

Sectors are the engines of economic growth in any economy making inter-sectoral linkages the most significant target for development practitioners and policymakers. This study examines and ascertains the magnitude of production and consumption inter-sectoral linkages in Uganda's economy. Secondary data from 2009/10 and 2016/17 Uganda Social Accounting Matrices (SAMs) is analyzed based on the multiplier model. A buttress of robust checks including a Vector Error Correction Model (VECM) is adopted for validation purposes using a longer time series from 1980 to 2020. The study found that a one million income injection across sectors has a larger multiplier effect (in terms of output, GDP, income, and consumption) than the service sector followed by agriculture and then the industrial sector. Despite the higher multiplier effects of the services sector, its contribution to employment is limited. A large amount of labor is trapped in the low-paying subsistence agricultural sector. Therefore, the government should implement policies that supplement rapid services sector growth with strategies that attract and utilize excess labor in the agricultural sector. Results also indicate that the services sector prematurely emerged as the driver of economic growth before the economy was fully industrialized. Government should formulate industrial sector catch-up policies to rebalance its development agenda. To accomplish this, proportionately more funding should be allocated to the industrial sector. Lastly, sectoral multiplier effects projections and forecasts should be incorporated into the National Development Plans, Budgeting Frameworks, and forecasts. [ABSTRACT FROM AUTHOR]

After the 2000s, there were major banking crises in the United States that affected the entire world. The bankruptcy of three major banks between November 2022 and March 2023 caused a new unrest around the world. When these banks examine the reasons for the collapse, especially after the pandemic, the Fed can be shown to raise the interest rates repeatedly in order to stop the inflation that is catching the exit trend. This has seriously reduced the revenues of banks that have too many government bonds in their hands to generate income. Another reason is the decline of the cryptocurrency in 2022. The decline in crypto has caused the crypto-friendly Silicon Valley (SVB), Signature (SBNY) and Silvergate banks to lose confidence. Customers rushing into banks to withdraw their money with a loss of trust resulted in banks becoming bankrupt. In this study, the current data and statistical data on whether Islamic banks can be an alternative to traditional banking are discussed. [ABSTRACT FROM AUTHOR]

Financial innovation in the cryptocurrency space has prompted central bankers and financial policymakers around the world to question the future of money and payments. For many scholars and policymakers, the rise of cryptocurrencies implies significant improvements to the efficiency of making cross-border payments--and thus portends a gradual sunset on the legacy payments system. But for decades, that legacy payments system has partnered with the State to accomplish valuable foreign policy and national security goals: to combat money laundering, deter state aggression, and defend human rights and democratic institutions. This Article examines the potential for cryptocurrency payments ecosystems to bypass the legal frameworks that today require banks to act as gatekeepers of illicit finance and enforcers of sanctions regimes. Ultimately, in light of the trade-offs implied by moving from a bank-centric to a multi-railed crypto system, this Article argues for infrastructure-building within the existing system. In particular, it proposes the introduction of a centralized verifying party, which would conduct customer due diligence on an industry-wide basis. Given the current costs and complication of banks' current legal requirements to undertake individualized due diligence, the structural reform proposed here stands to make the legacy payment system more efficient--and hence more attractive relative to crypto competitors--for making cross-border payments. [ABSTRACT FROM AUTHOR]

This paper analyses the dynamics of financial deepening and the volatility of business cycle in the United Arab of Emirates (UAE). We use cointegration tests of regime‐shift with one and two endogenous structural breaks, respectively, using Gregory and Hansen, Oxford Bulletin of Economics and Statistics, 1996, 58, 555–560 and Hatemi‐J, Empirical Economics, 2008, 35, 497–505 approaches. The asymmetry in the underlying relationship of the concerned variables are examined following NARDL model over the period 1974–2016. The findings suggest the presence of regime shifts in the cointegrating relationship and asymmetry between growth volatility and financial deepening. Furthermore, the paper provides evidence of a significant difference in the response of business cycle to negative or positive changes in the financial deepening, which are more pronounced in the short run. Therefore, the obtained asymmetry suggests that business cycle responses are quick and adverse to changes in the financial system in the UAE. The empirical findings of this paper have potential policy implications in this emerging country that is aiming to establish an international reputation in its financial market and become a regional financial hub. [ABSTRACT FROM AUTHOR]