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Pandemics and political responses to them can bring about short- and long-term economic and environmental effects. This paper aimed to understand the effects of a pandemic and the policy responses to it on Iran's economy and environmental conditions using a Bayesian dynamic stochastic general equilibrium model. The results suggested that a pandemic can decrease the value of macroeconomic variables. In the health sector, a pandemic reduces health capital stock, thereby increasing quarantine hours and household health expenditures. Following an increase in quarantine hours and a decrease in economic activities, air pollution decreases, causing a short-term improvement in the quality of the environment. Moreover, an increase in public health expenditure during a pandemic leads to an accelerated convergence of economic and environmental variables into a steady state. Considering that the positive environmental effects of the outbreak of an infectious disease are short-term, and since industrialization is necessary for economic growth, it is recommended that in order to achieve sustainable development, we should move toward energy-efficient industries and clean fuels and technologies. [ABSTRACT FROM AUTHOR]

Background: The convergence of the economic crisis, COVID‐19 pandemic, and Beirut Blast has precipitated unprecedented challenges for the healthcare system in Lebanon, particularly for cancer patients. Amidst these crises, our study evaluates its contribution to a concerning trend of operating on more late‐stage and complex colorectal cancer (CRC) cases. Methods: We included 155 patients operated for CRC between 2017 and 2023. Patients age; sex; operation type (emergency or elective); tumor size, grade, and location; tumour, node, metastasis stage; lymphatic, vascular and perineural invasions; American Society of Anesthesiologists (ASA) score, presentation and previous history, and complications were examined. Results: Surgical outcomes remained relatively consistent before and after the crisis. However, there was a notable increase, with patients being 3.59 times more likely to undergo resection of adjacent organs in metastatic disease post‐crisis. Patient characteristics also exhibited notable shifts, with a 9.60‐fold increase in the likelihood of having an ASA score of at least 2 after the crisis. Additionally, there was a 5.36‐fold decrease in the odds of patients undergoing a colonoscopy before their diagnostic one post‐crisis. Preoperative carcinoembryonic antigen levels were significantly elevated post‐crisis compared to pre‐crisis levels. Pathological findings revealed increased odds of perineural, vascular, and lymphatic invasion post‐crisis. Additionally, there was a notable increase in the likelihood of hepatic synchronous metastases post‐crisis. Furthermore, a trend to operate on complicated diseases was noted with an increased number of colostomies. Conclusion: The economic crisis in Lebanon has profoundly affected early intervention and comprehensive treatment for CRC patients, resulting in a concerning rise in late‐stage cases requiring surgical intervention. [ABSTRACT FROM AUTHOR]

Higher education systems worldwide strive for diversity, equity, and inclusion. However, policies meant to support these values often – intentionally or not – construct new forms of labeling, discrimination, and exclusion. This study examines this dynamic through the case of access and participation plans for Arabs in Israeli higher education. An analysis of citizenship discourses used throughout the policy narrative is applied to state policy documents and interviews with policymakers and implementors. The analysis reveals two narratives describing a single policy: a ‘shared interests’ narrative focused on economic development and growth, and a ‘balancing tradeoffs’ narrative balancing economy and security. These narratives help identify the policy as a ‘multiple diversity regime’ with social, economic, civic, and ethnonational dimensions. Diversity, equity, and inclusion values are promoted through social, economic, and civic convergence, while labeling, discrimination, and exclusion arise through economic and ethnonational convergence. This study contributes to higher education research by accounting for the complex and multi-dimensional dynamic of diversity policies, especially in deeply divided societies. It calls for higher education systems and institutions to take on a more comprehensive approach, going beyond the social and economic dimensions of diversity, to pursue substantial ethnic and national equity and inclusion. [ABSTRACT FROM AUTHOR]

• Inequality between countries is decreasing, while inequality within countries is increasing. • As far as energy is concerned, the convergence of consumption began in the 1970s. • Global warming is closely linked to the economic convergence of energy consumption. • Higher energy consumption in developing countries is leading to higher global CO 2 emissions. • The world is becoming more equal in energy use and the technological exploitation of resources. Global inequality is made up of two components: inequality within countries and between countries. Over the last two centuries, the second component has strongly shaped global inequality. However, little is known about its evolution over time, and nothing at all about inequality in energy use and greenhouse gas (GHG) emissions. This article presents a comprehensive reconstruction of international divergence and convergence from the side of energy consumption and CO 2 emissions over two centuries. From 1820 to 1919, inequality between countries increased and so did inequality in GHG emissions. This increase was followed by ups and downs until the 1970s, when a decline of international inequality began. Convergence in both energy consumption and GHG emissions accelerated after 2000. [ABSTRACT FROM AUTHOR]

Objective: The objective of the article is to investigate the suitability of the European Union (EU) convergence criteria as an evaluative instrument in assessing its progression from the monetary union (MU) to the fiscal union (FU). The secondary aim was to propose a list of 'fiscal confluence criter ia' as a foundation for evaluating member states' ability to adhere to the fiscal union. Research Design & Methods: A quantitative research methodology was employed, using eight indicators and three distinct methods (Euclidean distance, standardized sums, Technique for Order Preference and Similarity to Ideal Solution) to create a joint development measure, known as the core measure, for each group: CMMU and CMFU. I employed Spearman's - to calculate the rank correlation between Monetary and fiscal union. The research sample comprised all 27 European Union member states (EU MS). I sourced the datasets from reputable databases, namely Eurostat, the International Monetary Fund (IMF), the World Bank (WB), and Accounting for Transparency (AFT). Findings: The integrity level of the EU member states falls notably below the established thresholds. There are significant discrepancies between the countries. Consequently, the possibility of the EU attaining the next level of integration (FU) in the foreseeable future is limited. Implications & Recommendations: Given the obvious limitations on the ability of EU member states to pursue further integration in the immediate future, policymakers, and business entities within the EU should prioritize maintaining the agreement in its current form (Economic and monetary union). Further research should immediately concentrate on the causes and remedies of rising Euroscepticism in EU MS. Contribution & Value Added: This research offers valuable insights into the potential for further integration within the EU. Moreover, it initiates a discourse on the formulation of new criteria for the next level of integration (fiscal union). [ABSTRACT FROM AUTHOR]

We evaluate the cross-country convergence of financial development and its relationship with GDP growth. Financial inclusion variables have been widely converged across countries, and the catch-up effect of countries with poor financial coverage mainly drives the convergence. In contrast, financial development measures — including domestic credit, liability, mutual fund size, and stock market capitalization — have diverged since 1985 despite the absolute convergence in GDP and financial inclusion. The GDP growth rates strongly correlate with the change in financial development but not the improvement in financial inclusion. [ABSTRACT FROM AUTHOR]

Does China pull up its 31 mainland provinces as it converges to the incomes of advanced economies? The conventional method of modelling convergence in the Chinese provinces has been the Barro approach. This paper models convergence through a common factor, interpreted as the rising tides that lift the boats—the growth of China lifts its provinces. We question the conventional (Barro in Q J Econ 106:407–443 1991) definition of convergence. Imposing a common convergence rate across provinces would bias the convergence rate towards zero. We focus on the heterogeneous model where the convergence rate and long-run elasticity to the common factor differ across provinces. The rising tides of growth disproportionately benefit the poorer provinces and lifts the poor provinces more than the wealthier ones. This reveals the effects of transfer from the coastal provinces that developed first to the inner provinces that developed later. [ABSTRACT FROM AUTHOR]

Recent literature revisits cross-country convergence patterns over the last six decades. Whilst the debate has been about unconditional or conditional convergence, we question whether convergence rates differ across countries. Using the same dataset as in the recent studies of Kremer et al. (NBER Macroecon Annu 36:337–412, 2022) and Acemoglu and Molina (NBER Macroecon Annu 36:425–442, 2022) (GDP per capita for 108 countries over 58 years, 1960–2017), we systematically search models where the degree of heterogeneity varies from the mean group, pooled mean group, fixed effects and pooled estimators of convergence. The Bayesian Information Criterion selects the heterogeneous model whether we use the U.S., a common factor or country-specific trends as the steady state. We estimate a multi-country technological catch-up statistical model using the U.S. as the technological frontier. We show empirically that a failure to allow for heterogeneous rates of convergence creates a bias in the convergence coefficient towards zero. The long-run elasticity to the U.S.—another convergence parameter of interest—associates positively (0.79) with the country's average growth. Countries that learn from the technological frontier also grow faster. [ABSTRACT FROM AUTHOR]

The literature on convergence in per-capita income across countries has not converged on a common concept of convergence. It may be within a country towards its own steady state or between countries. Between country convergence may be absolute convergence to the same steady state; conditional convergence to country specific steady states, functions of observed variables; or club convergence to different steady states. It may be measured by beta convergence; sigma convergence; or the presence of a common trend. This paper surveys the econometric issues involved in estimating the rate of convergence; testing for convergence; and specifying the unobserved steady state. The survey suggests that rather than there being different ways to measure a single concept, convergence, the different measures are measuring different things. [ABSTRACT FROM AUTHOR]

Recent research has suggested that unconditional convergence no longer exists. Thus, this study examined the income convergence among 11 Central and Eastern European (CEE-11) countries that joined the European Union in/after 2004 and Europe's four largest economies (Germany, France, the United Kingdom, and Italy) by using panel data from 1994 to 2019. For this purpose, it employed the beta (β) and sigma (σ) convergence approaches to analyze the dynamics of economic growth. Based on the findings, in 1996, the four largest European economies had a higher capital–labour ratio and GDP growth than CEE-11. However, by 2019, the patterns reversed. As for the regression results, there was strong evidence of unconditional β convergence between 1999 and 2019, at an annual rate of 11%, with the σ convergence and the fixed effect models further supporting income convergence. Moreover, although brief divergence occurred during various financial crises, the overall trend was a significant convergence of CEE-11 with Europe's four largest economies through higher relative GDP growth. This study contributes to the economic growth theory of income convergence across countries and highlights the importance of regional integration in enabling sustainable catch-up growth. [ABSTRACT FROM AUTHOR]

This paper aims to analyze the trends of research conducted on companies using social media. Social media is one of the online platforms for sharing or exchanging individual thoughts, experiences, and opinions, and with the development of the IT environment, the use of social media has also grown rapidly. In recent years, research in the field of business administration or economics on the use of social media is also showing a significant increase. Contents posted on social media directly or indirectly affect corporate performance or corporate value. This study summarized the results of empirical research on this. This study proposes a technology-based convergence study on the economic effect of social media, and looks forward to expanding research in this field. [ABSTRACT FROM AUTHOR]

This research examines the impact of the Russian‐Ukraine war on the decisions made by managers regarding the three dimensions of the triple bottom line (TBL) of sustainability. Specifically, it investigates how managers in the Lombardy region of Italy adapted their approaches towards sustainability during this crisis. The descriptive statistics and PCA analyses demonstrate that managers adjusted their decisions regarding the social dimension of sustainability in response to the prevailing circumstances. The Russian‐Ukraine war has led to a convergence of the social and economic dimensions within firms. However, the study also reveals that the social dimension is often considered secondary to the core business, making it the weakest aspect of the TBL approach. Nonetheless, external disruptions, such as in the case of the Russian‐Ukraine war, can influence this approach, leading to a repositioning of the social dimension as a focal point in business strategies. By emphasizing the importance of considering social aspects in sustainability decision‐making during crises, this research contributes valuable insights to the existing literature. The findings can inform the development of strategies to address challenges posed by the Russian‐Ukraine war and enhance the integration of social criteria in sustainability decision‐making. [ABSTRACT FROM AUTHOR]

Recent economics of knowledge studies have highlighted the strong positive effects that the limited exhaustibility of knowledge and its cumulability exert on the recombinant generation of new technological knowledge. While existing empirical investigations primarily focus on the knowledge generation and technology production functions, the analysis of the cost of knowledge has received less attention. This paper aims to fill this gap by investigating the dynamics and determinants of patent costs in the European Union in the period 1992–2012. The analysis of patent unit costs in European countries, measured as the amount of research and development (R&D) expenditure per patent application to the European Patent Office (EPO), shows a steady decline and clear convergence toward lower levels, both in time and across countries. We find that a larger stock of patents and a higher technological variety and coherence of its composition are associated with a sharper reduction in patent costs. Our findings suggest that, in Europe, ideas have been getting cheaper. [ABSTRACT FROM AUTHOR]

This article investigates economic convergence in terms of real income per capita between the autonomous regions of Spain over the period 1955–2020. In order to converge, the series should be cointegrated. This necessary condition is checked using two testing strategies recently proposed for fractional cointegration, finding no evidence of cointegration, which rules out the possibility of convergence between all or some of the Spanish regions. As an additional contribution, an extension of the critical values of Nielsen's (2010) test of fractional cointegration is provided for a different number of variables and sample sizes from those originally provided by the author, fitting those considered in this article. [ABSTRACT FROM AUTHOR]

This paper contributes to the growing body of literature exploring the ramifications of AI-driven technological singularity and its economic implications. The exploration unfolds in three key segments. First, it sheds light on the concepts of artificial general intelligence (AGI), AI superintelligence, and singularity itself. Subsequently, it discusses the AI alignment problem, addressing the potential outcomes of superintelligent AI on human civilisation. Further, Giddens’ structuration theory is used to highlight the prominent role of AI-based “authoritative resources” in determining the allocation of resources and ensuring distributive justice in a techno-utopian society. The paper also explores the idea of utopia and the “end of history” and concludes with the suggestion that achieving a technological utopia with superintelligent AI is a mechanism design problem.

This article argues that while South Africa's post-apartheid foreign policy on Africa has largely emphasized state-led continental political and economic integration, the country's Multinational Corporations (MNCs) have led in the practical articulation of integration as an integral part of their expansion strategies in search for increased market share and the establishment of new markets on the continent. It assesses the intersection between South Africa's foreign policy on Africa's integration and the role of the country's MNCs. The article adopts a three-part juxtaposition approach to determine the convergence between South Africa's foreign policy goal of continental integration with the case studies of expansion strategies pursued by two of the country's MNCs namely, Standard Bank of South Africa Limited (Standard Bank) and Shoprite Holdings Limited (Shoprite). African Union member states should ensure that they design foreign policies that align the interests of MNCs with national and continental goals of integration. [ABSTRACT FROM AUTHOR]

Industrial convergence refers to the dynamic process in which different industries gradually form new industries through mutual penetration and cross. As an advanced form of industrial synergy, industrial convergence is crucial in building a modern economic system. Using a panel data set covering China's 30 provinces during 2006–2018, this study explores the impact of industrial convergence on regional high-quality development. The findings suggest that: (1) Industrial convergence is conducive to high-quality development, and this conclusion remains robust after a series of tests. (2) For heterogeneity, the positive impact of industrial convergence on high-quality development is greater in regions with optimized energy structure and high investment outward, as does the regions with reasonable financial structure and moderate economic agglomeration. (3) Productivity improvement and industrial upgrading are the mediating paths by which industrial convergence promotes high-quality development, and the former plays a greater role. [ABSTRACT FROM AUTHOR]

One of the main objectives of the European Union's regional policy is to help regions catch up by supporting their economic growth. In this study, we analyse the spatial characteristics of economic growth in 185 NUTS3 regions of the six East-Central European (ECE6) Member States of the European Union (EU) (Bulgaria, the Czech Republic, Hungary, Poland, Romania and Slovakia) between 2000 and 2020. The regions are also considered together, but also based on the EU urban-rural typology. We apply a wide range of spatial econometric models proposed in the literature, also examining the reliability of which model can be used on this sample. For the analysis, we test the ß-convergence hypothesis augmented with region types, using both bottom-up and top-down spatial econometric approaches. [ABSTRACT FROM AUTHOR]

Purpose: The paper aims to investigate the impact of socially-responsible human resource (SR-HR) practices on organizational sustainability performance (OSP) in Indian business organizations that are mandated to publish business sustainability and responsibility reporting. Design/methodology/approach: Data were obtained from 620 working professionals employed in the organizations listed on National Stock Exchange in India. The proposed hypotheses were tested by deploying the statistical technique of multiple regression analysis using SPSS Version-21. Findings: The results demonstrated that overall, SR-HR practices impact OSP. More precisely, all the dimensions of SR practices are positively associated with the organization's financial performance, environmental performance and social performance (SP). There was a relatively higher significant impact of legal-oriented human resource management (HRM) on organizational economic and ecological performance. However, in the case of SP, a substantial effect of employee-oriented HRM was found. Practical implications: Study findings encourage HR practitioners to invest in SR-HR practices to build and strengthen employees' abilities and contributing to sustainability goals. Originality/value: This study is one of the few studies conducted in the Indian context that highlights the relevance of the convergence of HRM, human resource development and corporate social responsibility to realize sustainability goals. [ABSTRACT FROM AUTHOR]

Copyright of International Economics / Economia Internazionale is the property of Camera di Commercio di Genova 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.)

The Generally Accepted Accounting Principles (GAAP) which are theoretically unique to each country, it provides standards for evaluating and comparing the financial position of companies. However, the International Accounting Standard (IAS), are developed to be used by all countries. The convergence of these national and international accounting standards is important for attracting foreign investors and potential domestic investors. Egypt has undergone serious steps towards convergence, such as the introduction of new standards or converging of old standards to be consistent with the international standards. A number of complex standards has been understood either by separating them into two or more standards or by adding supplements or guidelines to some of them. Alternatives of some of accounting standards are reduced to avoid differences in practices and manipulating profits. This research developed a framework towards convergence of Egyptian accounting standards and International accounting standard that include a number of viable points: started with determining the objective of the financial reports, determining the methods of applying the international standards, the importance of studying the cultural influence, developing accounting education, the need to develop professional organizations concerned with the profession of accounting and for implementing and follow-up of standards. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Administrative Sciences / Yonetim Bilimleri Dergisi is the property of Canakkale Onsekiz Mart Universitesi, Terzioglu Kampusu 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.)

The article offers a look into the economic developments in Albania. Topics discussed include impact of economic shocks and economic convergence, labour shortages and skills gaps, fiscal position of the government, challenges faced in achieving Sustainable Development Goals and achievements, progress in the accession to the European Union (EU), and financial and development support provided by the EU to Albania through the Instrument for Pre-accession Assistance.

Urban agglomerations (UAs), which serve as pivotal hubs for economic and innovative convergence, play a crucial role in enhancing internal circulation and strengthening external linkages. This study utilizes the China city-level multi-regional input-output tables, incorporating the Dagum Gini coefficient and kernel density estimation methods, to perform a thorough quantitative analysis. Disparities within the national and global value chains ("dual value chains") of Chinese UAs from 2012 to 2017 were assessed. Additionally, the logarithmic mean Divisia index (LMDI) method was applied to disaggregate the drivers of both national and global intermediate inputs (NII and GII). The study's key findings include the following: (1) The national value chain (NVC) within UAs exhibits robust growth, contrasting with the decline in the global value chain (GVC). (2) The inter-UA disparity contribution rate significantly surpasses the combined rates of intra-UA contribution and super-variation density. (3) Distinct evolutionary peak trends are discerned among various UAs within the "dual value chains", highlighting diverse spatial polarization characteristics and expansiveness. (4) The growth of the NVC has transitioned from a negative to a positive impact on NII, while the decline in GVC has substantially counteracted GII growth. Economic and demographic factors notably drive positive improvements in both NII and GII, whereas the efficiency of outflows presents a negative driving effect. Based on these findings, this study offers strategic recommendations to facilitate the effective integration of UAs into the new development paradigm, thereby providing a scientific basis for related decision-making processes. [ABSTRACT FROM AUTHOR]

The article offers a look into the economic developments in Serbia. Topics discussed include economic impact of external shocks and economic convergence, gross domestic product, inflation rate, labour market participation, progress and challenges to achieving Sustainable Development Goals, European Union (EU) accession, and financial support provided by the EU to Serbia for socio-economic development and reforms through the Instrument for Pre-accession Assistance.

This paper investigates the pattern of the financial development convergence for the top (Europe and Central Asia) and the bottom (South Asia) globalized developing regions from 1984 to 2016. We employ the Philips-Sul club convergence approach to measure the financial development convergence's speed. The results validate the convergence of financial development in all countries, including the top and bottom of globalized developing regions. Interestingly, the speed of financial development convergence is less in the bottom globalized developing region than in the top globalized developing region. However, these results vary across developing regions in the case of financial institutions and financial markets. Therefore, solid financial market governance can provide a productive and efficient financial system, particularly in the bottom globalized economies. [ABSTRACT FROM AUTHOR]

In the context of global systemic transformations, economic security has become a focal point in political and economic debates. The article explores how economic convergence within the European Union (EU) contributes to strengthening regional economic security. Using an innovative approach based on cluster analysis, the study reveals economic convergence trends among EU member states, highlighting the involvement of this process in promoting economic stability and security in the era of systemic changes. Our methodology involves applying clustering techniques to an extensive set of economic indicators to assess the dynamics of economic convergence between EU countries over the last two decades. The cluster analysis carried out allowed the grouping of countries based on their similar economic characteristics, thus providing a clear picture of the progress towards convergence. The results indicate a strong trend of economic alignment within the EU, with the formation of clusters suggesting a reduction in economic discrepancies. This process of convergence not only reflects greater economic cohesion, but also contributes to the macroeconomic stabilization of the region, an important aspect for economic security in the face of global volatility and uncertainties. The analysis shows that the EU is moving towards uniformity and economic convergence, with economic clusters becoming more similar over time. [ABSTRACT FROM AUTHOR]

The authors estimate the alpha and beta of private equity investments using their desmoothed quarterly returns. Although computing the alpha and beta using a lagged linear regression between private and public market returns is straightforward, reconstructing desmoothed private market returns is trickier. A time series of desmoothed private capital returns has application in asset allocation, risk modeling, and return attribution. The authors use a state space modeling framework in which the desmoothing and the parameter estimation are done simultaneously using Bayesian inference. This is likely the first attempt to solve a full Bayesian model that can simultaneously estimate a desmoothed time series of returns as well as perform a lagged linear regression to estimate capital asset pricing model (CAPM) style parameters for private capital. The authors perform extensive model checking, look out for the model's convergence, and resolve any issues leading to overfitting. The estimates are precise with very low Monte Carlo simulation errors and are also in alignment with those in the literature, which validates this model and desmoothing technique. [ABSTRACT FROM AUTHOR]

The validity of purchasing power parity (PPP) between two economies implies goods markets of the two are well integrated. This is a pre-condition for further economic convergence. This study examines validity of the PPP between China and European countries. Since the functional form of the cointegrating relationship may not be exact or linear, we adopt the nonparametric rank tests for analysis, without prior specification of the functional form. We also address the rank problems that occur in multivariate rank tests. The results indicate strong support for nonlinear PPP relationships between China and European countries, especially during the second subsample period. This indicates China's rising economic power, particularly in the most recent decade. Although there have been disputes between China and Europe, these results suggest favorable prospects for closer economic cooperation between the two sides and the need for formulation of common policies to pursue an integrated market in the future. [ABSTRACT FROM AUTHOR]

In times of crisis, the study of employment is of vital importance, especially that generated by cooperatives, which show great resilience. This paper analyzes the evolution of employment created by cooperatives in the different Spanish regions in relation to total employment between 1999 and 2019 with a pioneering approach. We analyze the existence of convergence clubs among the Spanish regions using the methodology developed by Phillips and Sul (2007, 2009). The results show the existence of four clubs that include the regions that converge in relative terms of cooperative employment over the 20 years analyzed. The lack of homogeneity in the behavior of employment in cooperatives in the different Spanish regions is demonstrated, with certain divergences among regions. These divergences make it difficult to establish a model of cooperative employment for the whole of Spain. [ABSTRACT FROM AUTHOR]

Economic convergence was a goal of the European Union and financial integration was part of the tools to achieve this goal. After decades of successful convergence and closer financial integration, these movements have slowed since the Great Financial Crisis. In this paper, we contribute to explaining these stylized facts by showing, in a country panel setting, with 2SLS estimates, that the positive impact on productivity growth of financial flows, and in particular those intermediated by the banking system, depends on the quality of financial intermediation in the recipient country, but also on the quality of investors in the investor countries. [ABSTRACT FROM AUTHOR]

Machine learning algorithms, and economic interpretation, integrated with survival analysis, are used to examine the temporal dynamics associated with achieving a 5% increase in purchasing power parity-adjusted GDP per capita over a period of 120 months (2013-2022). The comparative investigation reveals that DeepSurv effectively captures non-linear interactions, though standard models exhibit comparable performance under certain conditions. The weight matrix evaluates the economic implications of vulnerabilities, risks, and capacities. To meet the GDP per capita objective, the findings emphasize the necessity of a balanced approach to risk-taking, strategic vulnerability reduction, and investment in governmental capacities and social cohesiveness. The policy guidelines advocate for individualized approaches that account for the complex dynamics at play in decision-making processes. [ABSTRACT FROM AUTHOR]

The activities of the modern state are carried out taking into account the trends inherent in the global community. One of the driving forces behind these trends is the strengthening of economic integration due to the increasing role of finance in the world economy, the effects of globalisation, liberalisation, concentration and centralisation of financial capital, which have shaped the new shape of the modern economic system. The integration of the world economy requires the integration of law in accordance with generally recognised norms and principles at the international level. The international character of law is an external circumstance that determines the facts of legal regulation of the convergence of states and peoples, their economies, cultures and ideologies. Convergence leads to the convergence of different legal systems and economic models. These circumstances indicate the existence of a global phenomenon that can be described as the process of economic and legal convergence. The subject of the study is the patterns of convergence in the field of economics and law. The authors aim to study the genesis of the convergence theory, identify the main trends and prospects for the development of convergence in the current environment, and explain the patterns of convergence in the field of economics and law in the context of globalisation. The methodological basis of the research is the theory of economic and legal convergence, the theory of state regulation of the economy, the theory of socio-economic systems and economic growth developed in the works of domestic and foreign economists, lawyers and philosophers. The study of basic economic and legal institutions is carried out on the basis of the dialectical method, general scientific methods of abstraction, analysis, synthesis and systematic approach. The research of certain issues was carried out using special methods: historical, comparative, interpretation of law, logical and legal, as well as methods of specific economic research, etc. The authors analyse certain issues of economic and legal convergence in terms of their historical formation, relevance, efficiency and prospects for application. Results. Convergence in the field of economics and law is a process of interaction of relevant elements both within national systems and economic and legal systems of different states, characterised by convergence, an increase in the number of links between the elements of converging objects and a certain degree of consistency of the impact of these elements on social relations. On the basis of the study, the authors believe that the use of convergence processes in the field of economics and law at the global level should be carried out only in a harmonious manner, creating common balanced results based on a unifying model of coherent cooperation of the subjects of these processes.

AbstractThis paper uses a structural approach to analyse economic convergence within the West African Economic and Monetary Union (WAEMU) countries. This Regional Economic Community has recorded several postponements of the convergence horizon defined by the Economic Commission. However, it is a framework that is supposed to lead to economic growth and living conditions. So, we estimate a structural convergence model over 1996–2021 for the WAEMU panel of countries. We apply the Generalized Moment Method to address the endogeneity issue in evaluating the coefficient. The analysis confirms no economic convergence within WAEMU countries during this period. This finding means that the economic structures of the WAEMU countries do not come closer over time. Therefore, policymakers must continue implementing initiatives to harmonise regional policies and reinvigorate the regional economic program.

This article analyses regional convergence and the diminishing regional disparities within the EU27 from 2000 to 2019. It assesses the impact of income fluctuations on regional inequality by employing secondary analysis of income per capita indicators across NUTS 3 level regions. The article provides a quantitative assessment of regional income inequality, encompassing the most prevalent instruments used in the analysis of inequality data. In particular, it determines EU regional disparities using constructed Theil, Gini and CV indices exposing a more comprehensive evaluation of regional disparities within the EU. It also examines the nexus between spatial effects on regional income inequality. The findings suggest that EU convergence persists at the NUTS 3 level, albeit at a decelerating pace. We also point to the role of clustering effects among neighbouring regions. Notably, the study highlights the diminishing role of regional clustering due to income inequality during the ongoing convergence process. [ABSTRACT FROM AUTHOR]

Motivated by the structural change since the adoption of inflation targeting in October 1992, this research investigates regional house price convergence in the UK over the period 1973:Q4–2020:Q4. By using subsample comparisons, results show that all regions in the inflation-targeting regime converges to one club until the Global Financial Crisis. The finding suggests that the successful inflation-targeting policy can promote integration among regions. [ABSTRACT FROM AUTHOR]

This paper analyses the impact of highways on the distribution of economic activities between urban agglomerations and peripheral regions in the European Union. In doing so, I use an empirical strategy based on the land use theory employing disaggregated economic and infrastructure data. To address endogeneity, I apply an IV strategy exploiting non-local highway construction as a source of exogenous variation. I find that highways contribute to the diffusion of urban economic activities into surrounding areas, reducing the income gap between European agglomerations and peripheries. Reduced-form estimations suggest that the gap would have been nearly 3% higher in 2020 if the highway networks of European countries had remained at the level of 1990. The study concludes that transportation infrastructure policies can alleviate regional income disparities, increasing economic convergence between urbanised and less urbanised areas. [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]

This study deals with the evolution of fuels' prices over time in the EU. The central research inquiry revolves around whether there exists any correlation among the trajectories followed by national prices in the gasoline and diesel markets. The EU, and more specifically the Euro-Area, by its construction, is treated as an OCA (Optimum Currency Area). In an OCA, certain conditions are met to ensure the smooth functioning of a common currency. The fuel price synchronization is essential because it contributes to the effective implementation of policies and promotes stability across the entire macroeconomy. The study covers the period of 2017–2022. For each type of fuel and year, we construct an individual network where network nodes represent the EU member states while the edges connecting these nodes represent strong temporal fuel price correlations among the member states. The properties of the resulting networks are analyzed within a Complex Network framework. Our goal is twofold: first, to detect any potential convergence or divergence in the trajectories of the prices, and second, to investigate the impact of tax and duty implementation on the co-movements of the prices. The empirical findings show that diesel markets have a more pronounced pattern of price co-movements compared to the gasoline markets. Moreover, the application of fuel taxation policies seems to adversely affect the co-movements of prices. [ABSTRACT FROM AUTHOR]

The ongoing development of entrepreneurship within small and medium-sized enterprises (SMEs) represents an essential factor pertaining to the growth of the modern economy because it has an extremely important impact on economic development, increasing the level of innovation and creating jobs. We tend to believe that SMEs represent a central pillar in the countries with a developing economy, and not only there because of the many benefits they bring about including the demonstrated ability to respond quickly to the changes in the market. The present study presents the convergence of the literature on entrepreneurship, SME, management, innovation and performance in the business sector, highlighting the interest of a very large number of researchers who have studied SMEs on economic growth. In the present study, we used the VOSviewer software for the bibliometric research, the results being reflected in the bibliometric maps that show the links between the keywords identified in the research of specialists in the field. [ABSTRACT FROM AUTHOR]

This study offers a comprehensive examination of economic growth and convergence in the Indian States and Union Territories (U.T.) over the period from 1991 to 2020. It investigates absolute, sigma, and conditional convergence within this diverse set of states and utilizes the augmented Solow and extended Solow models to explore conditional convergence dynamics. The empirical findings reveal several significant insights. First, there is no substantial negative correlation between the initial per capita GDP ratio and the average annual growth rate, indicating the absence of absolute convergence across the Indian States and U.T. economies during the study period. These results align with those obtained from sigma convergence analysis, reinforcing the absence of widespread convergence. However, conditional convergence is observed, as evidenced by the rate of conditional convergence (coefficient of initial GDP per capita) estimated at 0.038 among the Indian States and U.T. The presence of conditional convergence implies that while initial conditions matter, other factors, including physical and human capital, population growth, and additional variables, significantly contribute to the growth and convergence of Indian regions. The study concludes that policies aimed at promoting economic growth in the Indian States should prioritize the expansion of the labor force, investments in physical and human capital, and prudent government consumption. Furthermore, fostering an environment that encourages access to new technologies and ideas, maintaining sound macroeconomic management, and increasing investments in human capital formation are essential for sustained growth. Effective resource allocation through prudent budgetary policies and heightened investments in the health sector are recommended. Incentives to reduce fertility rates and adept monetary policy management are also identified as crucial elements for ensuring stability and sustainable growth. In summary, this research underscores the importance of adopting a holistic approach to foster economic growth and convergence in the Indian States. The suggested policy measures create a conducive environment for sustained development and prosperity in this diverse and dynamic region. [ABSTRACT FROM AUTHOR]

Purpose: The attempts made by Saudi Arabia to utilize the soft power of sports over the last decade have helped it envision a promising post-oil future. This study aims to explain the paradigm governing the expansion of sports interactions between Iran and Saudi Arabia. Methods: The statistical population consisted of 11 political science and sports science professionals with written work (e.g., papers, books, notes, or interviews) on public diplomacy, sports diplomacy, and diplomatic interactions in the Middle East, especially between Iran and Saudi Arabia. Sampling was performed through purposive (snowball) sampling and the Delphi method until theoretical saturation. The validity and reliability of this research were evaluated with the contribution of interviewees with Intra-subject agreement of two coders. Results: The research findings indicated that four indirect categories (i.e., geopolitical, ideological, economic, and sociocultural categories) and three direct categories (i.e., sports events, human capital, and sports economy) constituted the paradigm governing the diplomatic interactions between Iran and Saudi Arabia. The key components of indirect and direct categories were economic concepts with a mean of 4.17 and sports economy with a mean of 4.30, respectively. Conclusion: According to the research findings, since Saudi Arabia has put substantial effort into organizing sports events and paid special attention to this area over the last decade, sports can be considered an intriguing means for these two countries to expand their political and economic convergence in the future. [ABSTRACT FROM AUTHOR]

This paper investigates the contribution of industrial robots to labor productivity growth and cross-country economic convergence in a sample of 19 developed and 16 emerging countries over the period 1999 to 2019. To answer our research questions, we extend the non-parametric production frontier framework by considering industrial robots as a separate production factor. We find a positive contribution of robotization to labor productivity growth for all countries in our sample. In the period after the financial crisis (2009 to 2019) the contribution of robot capital deepening to productivity growth gained in importance. Over the period 1999 to 2019 we find some evidence of i) unconditional β-convergence (countries with lower initial productivity levels grow faster), ii) a reduction in the dispersion of productivity levels across economies (σ-convergence) and iii) a depolarization (shift from bimodal to unimodal distribution) of the labor productivity distribution in our sample. Accumulation of 'traditional' physical capital is the main driver of β-convergence. Robot capital deepening significantly contributed to economic convergence and the depolarization of the labor productivity distribution, but its effect on the entire shift of the labor productivity distribution is modest and dominated by other drivers of productivity growth such as 'traditional' physical capital deepening and technological change. [ABSTRACT FROM AUTHOR]

Theoretical background: Silver has a great importance in the real economy, i.e. in photography, medicine, electrical, electronic and chemical industry. The growing importance of renewable energy sources and the development of solar panels, accumulators and batteries means that the role of silver is significantly strengthened. At the same time, it is also used as an investment asset providing variety in portfolios, on numerous occasions being a cheaper substitute for gold. Researchers are studying connections between those two resources and providing different perspectives on their future based on real economy and the financial market. Purpose of the article: The purpose of this article is to assess the current role of silver in the economy and answer the question of its investment prospective. Research methods: The research methods include elements of descriptive statistics and Pearson’s linear correlation between the prices of silver, gold and copper of the EUR/USD exchange rate and the Dollar Index. The research period is from 2000 to 2023. The analyzed data are daily. A measure of the amount of money in circulation in the United States is the M2 index, which includes cash in circulation and deposits. The inflation will be shown by the Consumer Price Index. The research method is also critical analysis of the subject literature. Main findings: We found that the change in the price of silver is strongly dependent on the USD, and specifically on its supply. A significant increase in the price of silver in the analysed period is related to the ongoing process of quantitative easing and financialization, understood as a growing volume of futures contracts. The occurrence of silver and copper in nature makes them dependent on each other, not only in determining prices, but also currently constitutes a barometer of industrial development. Thanks to the growing demand from industry, shortages of silver can result in serious consequences for production, for which reason they may decide to aggressively improve metal recycling efficiency or hoarding supply, which might push prices further up. However, investment use will not disappear due to its anti-inflation characteristics and may cause an increase in demand among investors who see gold as too expensive. [ABSTRACT FROM AUTHOR]