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This paper examines big data analytics implications on the central banking financial system's technological progress. A digital technological progress framework and model is established to analyze the economy's aggregate supply via covering the monetary policy, big data analytics, pollutants emissions as independent variables and the economy's aggregate demand as a moderating variable in a modified extensive growth theory framework and model to compute the productivity indicators and the total factor productivity (TFP) as the central banking technological progress that combined the mentioned variables qualities contribution. Besides, data analytics positive and negative externalities that include data analytics shortcomings as unpriced undesirable output in the form of cybersecurity and pollutants' emissions among other proxies are internalized in the framework and the model to integrate the digital technology innovation with digital technology shortcomings and climate change. This revised extensive theory framework and model is a remarkable technique comprehensive of the technological progress matters and sustainable economic development and is considered one of the most important sustainable development and long-run economic growth proportions in the central banking financial system functions to manage the economy's aggregate supply and demand that unnoticed by previous studies. [ABSTRACT FROM AUTHOR]

This study examines Foreign Direct Investment (FDI) inflows spillover effects influence on the labour productivity of the most important Asian‐Pacific countries (Malaysia, Indonesia, Singapore, Philippines, Thailand, China, Japan, Korea, India, Australia and New Zealand). The modified‐intensive growth theory model that is based on labour productivity (out per worker) is employed. Both growth accounting and econometric approaches are combined to estimate input terms (explanatory variables) parameters in the first step followed by the second step that plugs the estimated coefficients into the modified model to calculate the productivity indicators. The results show that the FDI inflows spillover effects are input‐driven which was generally more predominant than total factor productivity (TFP) per worker (intensity) growth that is expressed the combined contribution of inputs' qualities technological progress or what so‐called productivity‐driven. TFP intensity growth results show that most of the selected Asian‐Pacific counters economic growth is considered to be an input‐driven and highly dependent on absorptive capacity per worker. This indicates that the FDI spillover effects (absorptive capacity) have a significant and low impact on these economies. However, the economies of Japan, South Korea and China showed productivity‐driven growth among Asian countries under study. Besides, Australia and New Zealand showed productivity‐driven as resource‐based economies. The technology transfers and human capital skills development or what so‐called FDI spillover effects contribute significantly in the cases of Japan, South Korea, and China among the Asian countries. For these countries to achieve the New Economic Model of development to sustain its long‐run economic growth, to be a high income and knowledge‐driven economy based on high‐skilled human capital, the productivity must be given top priority. [ABSTRACT FROM AUTHOR]