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Economic diversification increases the level of democracy and leads to greater output stability. This is because diversification is associated with an increased share of the population organized into interest groups that compete to pressure governments to pursue policies favouring their particular group. The increase in the share of the population organized in this way is indicative of an increase in the level of democracy. As diversification and the level of democracy (number of interest groups) increases, the government must pursue policies aimed at satisfying the largest number of groups, which limits its scope to implement policies that destabilize output growth. Empirical support for these hypotheses is provided from applying dynamic and heterogeneous panel data estimation techniques to a panel of 117 countries over 1995–2015. The results show a positive and significant relationship between economic diversification and democracy, on the one hand, and between diversification and output stability, on the other hand. Moreover, the positive impact of economic development on democracy and output volatility is conditional on development being accompanied by economic diversification. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to quantify sectoral energy and carbon intensity, revisit the validity of the Environmental Kuznets Curve (EKC) and explore the relationship between economic diversification and CO2 emissions in Bahrain. Design/methodology/approach: Three stages were followed to understand the linkages between sectoral economic growth, energy consumption and CO2 emissions in Bahrain. Sectoral energy and carbon intensity were calculated, time series data trends were analyzed and two econometric models were built and analyzed using the autoregressive distributed lag method and time series data for the period 1980–2019. Findings: The results of the analysis suggest that energy and carbon intensity in Bahrain's industrial sector is higher than those of its services and agricultural sectors. The EKC was found to be invalid for Bahrain, where economic growth is still coupled with CO2 emissions. Whereas CO2 emissions have increased with growth in the manufacturing, and real estate subsectors, the emissions have decreased with growth in the hospitability, transportation and communications subsectors. These results indicate that economic diversification, specifically of the services sector, is aligned with Bahrain's carbon neutrality target. However, less energy-intensive industries, such as recycling-based industries, are needed to counter the environmental impacts of economic growth. Originality/value: The impacts of economic diversification on energy consumption and CO2 emissions in the Gulf Cooperation Council petroleum countries have rarely been explored. Findings from this study contribute to informing economic and environment-related policymaking in Bahrain. [ABSTRACT FROM AUTHOR]

AbstractThe Mongolian economy relies heavily on mineral exports, making it highly vulnerable to external demand and price shocks. Economic diversification is essential to reducing this dependency and enhancing resilience. This study aims to identify key sectors in the Mongolian economy and discuss their potential for economic diversification. An input-output analysis was conducted using the input-output table for 2018, employing backward and forward linkages along with multiplier analysis. The findings highlight energy and manufacturing are key sectors due to their strong linkages and multiplier effects on output, employment, and value-added. In contrast, finance and mining significantly contribute to labour productivity, while labour-intensive public sectors, including education, arts, health, and public administration, play a critical role in household income generation. Prioritizing investments in manufacturing and energy is crucial, as these sectors positively impact upstream sectors by adding value to mineral and livestock-based commodities, thereby playing a vital role in diversification efforts. [ABSTRACT FROM AUTHOR]

This study aims to identify weaknesses in the Libyan economy and guide the necessary policies to achieve sustainable development. This study examines the importance of transportation and communications infrastructure in enhancing the business environment and attracting foreign direct investment in Libya, especially in traditional sectors such as banking and tourism. It also emphasizes the need to develop education as a prerequisite for economic diversification, by improving the quality of the education system and providing students with the skills required in the labor market. The study reviews the economic challenges facing Libya after 2011, including over-reliance on the public sector and the weakness of the private sector, and explores the structural reforms needed to achieve sustainable growth. The impact of previous economic policies on the Libyan economy is analyzed and the effects of the popular uprisings on production and GDP are assessed. The study provides strategic recommendations to improve the investment climate and promote private sector growth, with an emphasis on the need for coordination between the public and private sectors in developing education and training programs. [ABSTRACT FROM AUTHOR]

Fishing is a fundamental economic activity in the development of coastal areas. However, it experiences processes of overexploitation, deterioration of ecosystems, increased social pressure, and administrative inefficiencies, among other challenges that compromise the sustainability and well-being of many highly dependent and highly vulnerable communities. Given this scenario, fishers incorporate strategies to improve their condition, highlighting economic diversification. This study presents a baseline of the small-scale fishing activities of La Paz Bay and surrounding waters including the impacts of fisher’s diversification on total income and vulnerability due to income. This comprehensive and transdisciplinary study includes qualitative and quantitative research techniques, validation processes for database information, application and analysis of surveys, fieldwork, and results validation workshops with fishers and representatives from Cooperatives. Sociodemographic, vulnerability, poverty, and diversification indicators were determined. Among the results, a diagnostic of fishing in La Paz Bay stands out which recorded the capture of 100 species, integrated into 12 small-scale fisheries. Some stand out due to their relative importance including finfish, clams, scallops, and elasmobranchs (sharks and rays). Due to the relevance of the finfish fishery, the relative importance of groups of species was determined, highlighting 16 species, which together accumulate more than 90% of the annual production. The economic diversification of La Paz Bay fishers is higher than other Baja California Sur regions, and although the activities reported are diverse, they are mainly related to tourist services, and diversification only occurs when they maintain the activity of fishing in combination with others. Fishers tend to switch to other economic activities, highlighting construction, agriculture, commerce, and even the leasing of part of their heritage. Finally, a positive relationship between diversifying, with higher per capita income levels and vulnerability reduction was confirmed; and it is more complex to diversify for fishers who live in rural isolated communities with low populations. [ABSTRACT FROM AUTHOR]

Qatar's economic growth and improvements in living standards have been underpinned by a state-led, hydrocarbon-intensive growth model. More recently, Qatar has been undergoing an economic transformation toward a growth model that is more dynamic, knowledge-based, sustainable, and led by the private sector. It will be guided by the recently published Third National Development Strategy, which aims to achieve the National Vision 2030. This paper suggests key reforms to achieve this goal, quantifying their potential impact on the real economy using a semi-structural, general equilibrium model that includes Qatar. Model simulations suggest substantial benefits from labor market reforms, particularly those that would increase the participation of skilled expatriate workers. They also suggest large growth gains from reforms for the business environment, including those that improve access to finance. [ABSTRACT FROM AUTHOR]

This study examines the short-run and long-run repercussions of export diversification and foreign direct investment on climate change and greenhouse gas emissions in Saudi Arabia. In addition, the specification includes gross domestic product, total energy use, and urbanization as control variables. The outcomes of the study are as follows. First, the ARDL model provides empirical evidence supporting long-run cointegrating relationships among the variables. Second, export diversification, gross domestic product, and urbanization increase greenhouse gas emissions in the short-run and long-run. Nevertheless, the long-run adverse consequences of these variables tend to be greater than their short-run effects. Third, foreign direct investment inflows reduce greenhouse gas emissions and enhance short- and long-run environmental conditions. Finally, energy use has no significant impact on environmental conditions. These conclusions are robust against many empirical issues, including autocorrelation, heteroskedasticity, misspecification, and normality. The cumulative sum of recursive residuals and cumulative sum of recursive residuals of squares plots confirm the stability of long-run parameters and the validity of the ARDL estimations. The findings offer significant perspectives on measures that should be taken to preserve the environment. [ABSTRACT FROM AUTHOR]

This study examines the impact of entrepreneurship education on shaping entrepreneurial intentions among business administration students at Tayma University College. Utilizing both the Entrepreneurial Intention Model (EIM) and the Entrepreneurship Education Framework (EEF), this research assesses how content, pedagogical approaches, and the learning environment influence students' entrepreneurial aspirations. A survey of 135 male and female students was conducted, and Structural Equation Modeling (SEM) was used to analyze the relationships between educational factors and entrepreneurial intentions. The findings show that comprehensive course content, interactive teaching methods, and a supportive educational environment significantly enhance students' perceived feasibility and desirability of entrepreneurship. Moreover, attitudes towards entrepreneurship mediate the relationship between education and entrepreneurial intentions. This study contributes to the growing literature by providing insights into how targeted entrepreneurship education can foster entrepreneurial intentions, particularly within the context of Saudi Arabia's Vision 2030 initiative to promote economic diversification and youth empowerment. This study not only explores entrepreneurial education but also highlights its contribution to sustainability. By fostering a mindset that aligns with the socio-economic goals of Vision 2030, entrepreneurship education promotes sustainable economic growth and prepares students to contribute to a diversified and resilient economy. [ABSTRACT FROM AUTHOR]

With an emphasis on the students' perceptions of the primary obstacles and possibilities for startup creation and growth in the context of economic diversification, the study aims to investigate students' perceptions of the challenges and opportunities for entrepreneurship and startup innovation in Azerbaijan. The study examines the elements that young people believe lead to entrepreneurial success, and examines how the Azerbaijani economy is changing and how the start-up culture is expanding through a literature review and qualitative data collection method. Data was gathered by surveying graduate and undergraduate students in Azerbaijani universities. A Likert scale was employed in the survey to measure the respondents' thoughts. Documents such as government publications and research on global, including Azerbaijani entrepreneurship were also reviewed. The basis for using triangulation strategy in the research is that a more thorough and in-depth understanding of the phenomenon being studied is made possible by combining two methodologies (qualitative and quan titative), which also increases the accuracy and dependability of the data collected. Additionally, it strengthens the validity of the data and helps get around the drawbacks of each method. Almost all survey participants expressed a desire to launch their own company, indicating a strong interest in entrepreneurship among students. However, major obstacles including market saturation, lack of experience, and lack of capital make it hard to achieve their goals. The majority of respondents also voiced discontent with the state of startup assistance, particularly with regard to financial resources and educational opportunities. Students are motivated by chances in fields like healthcare, education, and technology as well as financial independence. The results highlight the critical importance of innovation, risk management and government support in developing the entrepreneurial ecosystem, while identifying key components considered necessary for success, thereby providing a basis for further research. In light of these conclusions, the author suggests strengthening legislative backing, expanding financial resources, and establishing educational programs in order to establish a supportive startup environment in Azerbaijan. [ABSTRACT FROM AUTHOR]

Our investigation, bolstered by the robust gravity trade model and panel data econometric technique, underscores the pivotal factors that influence trade interactions between Saudi Arabia and the BRICS nations—Brazil, Russia, India, China, and South Africa. The study, spanning from 1998 to 2023, delves into key economic metrics such as the gross domestic product, exchange rate fluctuations, inflationary trends, political conditions, and trade deals. We employ a range of econometric strategies, including pooled Ordinary Least Squares (OLS) and fixed effects models, to reveal that the GDP of BRICS states consistently and significantly impacts trade volumes. Specifically, a 1% increase in the GDP of partner countries correlates with a 0.37% rise in trade volume within the pooled OLS model. This effect amplifies to 1.43% when adjusting for temporal and country-specific factors in the fixed effects, underscoring the importance of accommodating unobserved heterogeneity, which refers to the unmeasured factors that can influence the relationship between GDP and trade volume. The political stability of BRICS nations mitigates transactional risks and promotes more stable trade relationships, thereby enhancing trade flows. Fluctuations in exchange rates exert positive and significant effects. This indicates that a more robust Saudi Riyal, an essential policy instrument, can enhance trade by increasing the competitiveness of Saudi exports. This study demonstrates that economic magnitude, political stability, and exchange rates affect Saudi Arabia's trade with BRICS nations. These results bolster the Kingdom's Vision 2030 objectives for economic diversification. This research advocates for stable political climates and strategic trade agreements to enhance trade relations. This study asserts that this approach will guarantee sustainable growth and diminish the Kingdom's reliance on oil exports, instilling optimism in the Saudi economy. [ABSTRACT FROM AUTHOR]

Purpose – This review provides a detailed analysis of corporate governance practices across Gulf Cooperation Council (GCC) countries, focusing on board characteristics, executive remuneration, capital markets and the integration of ethical and sustainable practices. It evaluates how these governance frameworks influence market performance, investor confidence and corporate sustainability within the region. Design/methodology/approach – The study synthesizes findings from 15 recent research studies, examining corporate governance mechanisms, board composition, executive compensation policies and their impact on market capitalization. The data were collected from major academic databases, including Google Scholar, Springer, Web of Science and Scopus. Findings – The analysis exhibits both similarities and differences in corporate governance frameworks across GCC countries. Important findings include a universal mandate for the separation of chief executive officer (CEO) and chairman roles, varied board composition requirements and differing executive remuneration and transparency policies. Saudi Arabia and the United Arab Emirates (UAE) lead in market capitalization, reflecting advanced governance practices, though disparities exist among GCC countries. The review also notes the increasing alignment of corporate governance with corporate social responsibility (CSR) principles, especially in sustainability reporting and ethical practices, highlighting a growing commitment to long-term value creation. Originality/value – This review uniquely synthesizes recent research on GCC corporate governance, offering insights on board structures, executive pay and market dynamics with a focus on ethical and sustainable practices. It provides valuable perspectives for stakeholders, policymakers and academics interested in enhancing governance frameworks in the region while contributing to the global discourse on aligning corporate governance with sustainability standards.

Investment plays an increasing role in promoting economic diversification, and this only succeeds if it is managed effectively. Economic diversification is a crucial feature of supportable progress, as divergence improves economic steadiness and support to surge GDP and encourages organisational and long standing change not only in the budget but also in extra columns of expansion such as communal establishments and proportions. Nevertheless, there is no accord on the consequences in the literature review for the reason that of several influences, for example the employment of dissimilar variable quantity, methods, KSA countries, and time periods. Thus, this work provides detailed insight into the current and future trends and shifts of the Saudi economy. The paper conducts a measurement and analysis of the Saudi economic diversification in light of Vision 2030, the findings of which are used to develop and propose a study framework for developing a dynamic economy.

Purpose – This article aims to evaluate the entry and exit of companies from local productive structures, with a specific focus on the sectoral complexity of these activities and the complexity of these portfolios. The study focuses on empirically demonstrating the thesis that related economic diversification exacerbates the development gap between more and less complex regions. Design/methodology/approach – The article uses indicators formulated by the economic complexity approach. They allow a relevant descriptive analysis of the economic diversification process in Brazilian micro-regions and provide the foundation for the econometric tests conducted. Through three distinct estimation strategies (OLS, logit, probit), the influence of complexity and relatedness on the entry and exit events of firms from local portfolios is tested. Findings – In all estimated models, the stronger relationship between an activity and a portfolio significantly increases its probability of entering the productive structure and, at the same time, acts as a significant factor in preventing its exit. Furthermore, the results reveal that the complexity of a sector reduces the probability of its specialization in less complex regions while increasing it in more complex regions. On the other hand, sectoral complexity significantly increases the probability of a sector leaving less complex local structures but has no significant effect in highly complex regions. Research limitations/implications – Due to the data used, the indicators are calculated considering only formal job numbers. Additionally, the tests do not detect the influence of spatial issues. These limitations should be addressed by future research. Practical implications – The article characterizes a prevailing process of uneven development among Brazilian regions and brings relevant implications, primarily for policymakers. Specifically, for less complex regions, policies should focus on creating opportunities to improve their diversification capabilities in complex sectors that are not too distant from their portfolios. Originality/value – The article makes an original contribution by proposing an evaluation of regional diversification in Brazil with a focus on complexity, introducing a more detailed differentiation of regions based on their complexity levels and examining the impact of sectoral complexity on diversification patterns within each group.

We assess the extent to which the implementation of Vision 2030 policies enhances the Saudi economy's resilience to oil shocks. Using a dynamic stochastic general equilibrium model that captures the country's economic diversification policies, we build a resilience index based on impulse responses to shocks. The policies considered have two opposite effects: reforming domestic energy prices, deploying renewables and introducing a value-added tax increase the volatility of macroeconomic aggregates, whereas economic diversification policies stabilize the economy. Overall, with Vision 2030 the economy's resilience to oil price shocks increases by 10 to 60 percent, depending on how labor market rigidities and the recycling of fiscal revenues are accounted for. Oil prices remain the main driver of macroeconomic fluctuations. Our analysis shows that an oil-exporting country should design policy packages that balance structural reforms with economic diversification, in order to shield its economy against oil shocks while generating long-term welfare gains. JEL Classification: D58, E13, E32, E37, E65, H30, H50, Q43 [ABSTRACT FROM AUTHOR]

Abstract\nPLAIN LANGUAGE SUMMARYThrough in-depth interviews with public- and private-sector decision-makers, this qualitative study investigated modern corporate social responsibility (CSR) and its future path in the United Arab Emirates (UAE). Quality education, health and well-being, environment, community development, circular economy, alignment with national priorities, consumer protection and public-private partnerships were discovered as core CSR priorities. Participants identified economic diversification, rebranding, increased environmental stability, strengthened corporate citizenship, improved regulation, and widespread differentiation as future focuses in the evolution of CSR in the UAE. The current and future emphasis of CSR is propelled by the UAE’s sustainable development objectives and human capital strategy. Transparent regulations, robust environmental, social, and governance (ESG) standards, and innovative strategies can distinguish responsible companies apart in the UAE. Nevertheless, it is expected that CSR will be further integrated into key business activities, aligning with evolving national economic visions, collaboration between sectors, and orientation towards a long-term impact on society. In deed the reputations of companies are enhanced through rigorous adherence to ESG standards, transparency regulations, and innovative approaches. Hence, there has been a strategic shift towards environmental sustainability, stakeholder capitalism, and robust regulation, shaping a highly competitive, impact-focused CSR environment in the UAE, consistent with economic diversification plans.SCOPE OF STUDYThis qualitative study interviewed UAE public and private sector leaders about current corporate social responsibility trends and the country’s future trajectory. The study discovered the following:CURRENT TRENDSCorporations promote education, health and well-being, the environment, community development, the circular economy, consumer protection, public-private partnerships, and support national policy priorities.FUTURE TRENDSParticipants identified economic diversification, rebranding, increased environmental support, strengthening corporate citizenship, improving regulations, and widespread differentiation as future focuses in the evolution of corporate social responsibility in the UAE.DETERMINANTS OF CURRENT AND FUTURE TRENDSThe UAE’s sustainable development objectives and human capital strategy propel the current and future emphasis on CSR. Transparent regulations, robust environmental, social, and governance (ESG) standards, and innovative strategies can distinguish responsible companies in the UAE.RECOMMENDATIONSFurther integration of corporate social responsibility into key business activities, alignment with evolving national economic plans, collaboration between sectors, and orientation towards a long-term impact on society will yield greater benefits.This qualitative study interviewed UAE public and private sector leaders about current corporate social responsibility trends and the country’s future trajectory. The study discovered the following:Corporations promote education, health and well-being, the environment, community development, the circular economy, consumer protection, public-private partnerships, and support national policy priorities.Participants identified economic diversification, rebranding, increased environmental support, strengthening corporate citizenship, improving regulations, and widespread differentiation as future focuses in the evolution of corporate social responsibility in the UAE.The UAE’s sustainable development objectives and human capital strategy propel the current and future emphasis on CSR. Transparent regulations, robust environmental, social, and governance (ESG) standards, and innovative strategies can distinguish responsible companies in the UAE.Further integration of corporate social responsibility into key business activities, alignment with evolving national economic plans, collaboration between sectors, and orientation towards a long-term impact on society will yield greater benefits. [ABSTRACT FROM AUTHOR]

This report examines exporters' challenges and possible solutions for public intervention to promote foreign trade. Based on fieldwork conducted in Georgia, we explore which policy approaches can help to stimulate Georgian exports further. Our outcomes show that exporters face substantial barriers such as navigating complex trade regulations, lack of knowledge about target markets, trade finance gaps, as well as new export promotion programs (EPPs) in competitor countries. Other upper‐middle‐income countries can learn from our results that exporters can significantly benefit from a comprehensive export promotion strategy combined with an ecosystem‐based "team" approach. EPPs related to awareness and capacity building in Georgia should be part of this strategy, focusing on challenges such as a lack of knowledge about trade practices and international business skills. Other EPPs must help to mitigate related market failures, as information gathering is costly, and firms have no incentive to share this information with competitors. Furthermore, targeted marketing support and customer matchmaking can answer Georgian exporters' challenges, such as lack of market access and low sector visibility. Our results also show that public intervention through financial support and risk mitigation is essential for firms with an international orientation. The high‐quality, rich outcomes provide significant value for other upper‐middle‐income countries by exploring the example of Georgia's contemporary circumstances in an in‐depth manner based on extensive interviews and document analysis. Limitations include that our work primarily relies on qualitative data and further research could involve a quantitative study with a diverse range of sectors. [ABSTRACT FROM AUTHOR]

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This study aims to elucidate the role of the Middle Corridor, also known as the Trans-Caspian International Transport Route (TITR), in diversifying global trade routes and enhancing economic resilience amid geopolitical tensions. The paper examines the corridor's impact on the economic and strategic interests of the countries it traverses, particularly Kazakhstan, Azerbaijan, Turkey, and the European Union. The analysis employs a multidimensional approach that includes historical context analysis, comparative route analysis, geographic information system mapping, and statistical analysis. Data were collected from various sources, including the World Bank, the International Trade Centre, and trade and economic policy reports from Kazakhstan, Azerbaijan, Turkey, and the European Union databases. Based on the methods used, the study compares the Middle Corridor with traditional trade routes such as the Northern Sea Route and the Suez Canal, highlighting its advantages and potential limitations. The Middle Corridor has emerged as a vital alternative, offering reduced transit times and enhanced trade security between Asia and Europe. The corridor has experienced a significant increase in cargo volume, reflecting its growing importance in international trade. Furthermore, the Middle Corridor contributes to the participating countries' economic diversification and energy security, facilitating the movement of energy resources and other goods. The analysis revealed challenges such as political instability and infrastructural needs that could hinder the full potential of the Middle Corridor. Ultimately, the study underscores the strategic significance of the Trans-Caspian Route and the Zangezur Corridor in diversifying global trade routes and strengthening economic resilience in geopolitical tensions.

This study investigates the impact of Government Consumption (GC) on Saudi Arabia's GDP during major economic crises from 1969 to 2022, focusing on periods marked by fluctuations in oil and non-oil revenues. By integrating these revenue streams, the research provides a more comprehensive analysis of fiscal policy effectiveness during economic downturns. Using an Autoregressive Distributed Lag (ARDL) model, the study reveals the complex role of Government Consumption (GC) in stabilizing and stimulating the Saudi economy amidst revenue volatility. Key findings indicate that while GC does not significantly influence GDP in the short term, its long-term effectiveness varies across different crises. Specifically, GC has acted as a buffer against immediate economic shocks during certain crises while providing a stimulus for economic recovery in others. During the 2020 COVID-19 pandemic, timely fiscal measures significantly boosted GDP, underscoring the importance of adaptive and proactive fiscal policies. Conversely, the 2014–2016 oil price collapse demonstrated that GC alone was insufficient to counteract economic downturns, emphasizing the need for diversified revenue strategies. These findings underscore the dual role of GC in economic stabilization and recovery. During the COVID-19 pandemic, GC played a crucial role in both mitigating negative economic impacts and supporting recovery efforts, showcasing its effectiveness in times of global disruptions. This demonstrates GC's capability as an immediate buffer against economic shocks and a stimulus for economic recovery. In contrast, during the 2014–2016 oil price collapse, GC was less effective, indicating the limitations of relying solely on government spending without broader economic diversification. This highlights the necessity of diversified revenue strategies to complement fiscal measures for long-term economic resilience. The robustness of the findings was ensured through various diagnostic tests, including checks for autocorrelation, heteroskedasticity, and stationarity of residuals. The absence of significant autocorrelation and heteroskedasticity, along with the stationarity of differenced variables, confirms the validity of the econometric models used. The study contributes to the discourse on fiscal policy in oil-dependent economies by illustrating the critical role of diversified revenue strategies and adaptive fiscal measures in enhancing economic resilience. Recommendations are offered for policymakers to optimize fiscal strategies, ensuring robust economic recovery and long-term stability in volatile markets. This research highlights the necessity for Saudi Arabia to refine its fiscal policies towards greater economic diversification and stability. [ABSTRACT FROM AUTHOR]

This research paper intends to examine the challenges and opportunities faced by the Saudi Arabia owing to climate change. As one of the world's leading oil producers, Saudi Arabia faces unique challenges in addressing climate change. The nation is highly dependent on fossil fuel revenues, which not only contribute significantly to greenhouse gas emissions but also pose risks to long-term economic stability as the world transitions towards greener energy alternatives. Through qualitative research methodologies, including literature reviews and case studies, the study evaluates those rising temperatures, diminishing water resources, and increased frequency of extreme weather events threaten the country's agricultural sectors, water supply, and public health. These environmental impacts underscore the urgency for the Kingdom to diversify its economy and adapt to changing climate patterns. The reliance on oil not only reinforces the need for sustainability initiatives domestically but also raises questions about Saudi Arabia's leadership role in international climate efforts, particularly in the context of its commitments to the Paris Agreement and the Saudi Vision 2030. Despite these challenges, Saudi Arabia also possesses significant opportunities to leverage its position in the global energy landscape. The Kingdom is actively investing in renewable energy technologies, aiming to generate 50% of its energy from renewable sources by 2030. This shift not only promises to reduce emissions but also to create jobs and foster economic diversification through the development of new industries. Moreover, Saudi Arabia's strategic geographical location offers the potential for solar energy production and wind power, along with its abundant natural resources for carbon capture and storage technologies. However, this research recommends that by capitalizing on these opportunities, the Kingdom can transition towards a more sustainable economy while playing a pivotal role in regional and global efforts to mitigate climate change. Ultimately, the pursuit of environmental sustainability can align with Saudi Arabia's economic goals, paving the way for a resilient future that balances growth with ecological stewardship. [ABSTRACT FROM AUTHOR]

The increase in the foreign population in municipalities with smaller populations of the Region of Valencia occurred after an intense migratory flow prior to the real estate and financial crisis. This process harbored the hope of stopping the demographic regression suffered in rural areas. After a period of population loss, in recent years a demographic recovery has been taking place in certain medium-sized and small municipalities. The objective of this article is to establish an analogy between the increase in the population of foreigners and economic diversification in these destination municipalities to promote population growth. Based on the use of a database of population and employment by sectors of activity at the municipal level, indicators have been found such as evolutionary rates, the Gibbs-Martin Index and different scatter plots to achieve the objectives established. The research shows that a further increase in the foreign population is taking place in medium-sized municipalities of between 2,000 and 10,000 inhabitants and that, unlike in the period prior to the crisis, their distribution coincides with the diversification of economic activity and the local labor market and not productive specialization. [ABSTRACT FROM AUTHOR]

The imperatives of economic diversification mean that Saudi Arabia and the United Arab Emirates (UAE) are scrambling to secure international markets and investments amid a series of domestic changes taking place, including centralized decision making, the marginalization of other traditional modes of governance, and rising nationalism. While there is some evidence of formal security‐related cooperation in the Gulf Cooperation Council as well as an informal security alliance operationalized by Saudi Arabia and the UAE at the onset of the Arab uprisings, these two states have gone on to pursue competing economic policies. This article assesses the economic and political interactions of Saudi Arabia and the UAE, arguing that contrary to Rosecrance's concept of "virtual states" with an emphasis on services, expertise, and creativity, connected to visions strategies in these cases, their primary power remains rooted in territorial aspects. It also finds that there are other factors such as leadership style, political and economic role conceptions, the regional and international balance of power, threat perception, and alliance formation that will continue to determine the shape and form of their cooperation or competition. [ABSTRACT FROM AUTHOR]

This scientific paper provide an analytical study of Algeria's balance of trade from 2014 to 2023, exposing the strategies used by the state to achieve balance, along with describing the import and export structure. Notably, almost 90% of Algeria's income comes from fuel exports, given that there is a deficit in the trade balance during the majority of the research years, even the surplus achieved over the last three years is the result of fuel exports. The State's fiscal policy, which aims to encourage core sectors and export-oriented industries on the one hand, is part of its effort to boost non-hydrocarbon exports and shift away from the rentier economy and its initiatives to, among other ways, foster an entrepreneurial culture, support regional manufacturing, diversify the economy, attain self-sufficiency, and lower import costs. [ABSTRACT FROM AUTHOR]

This research study examines the trade potential between Indonesia and Namibia, explicitly focusing on product competitiveness mapping and lessons learned from Chile and Uruguay. The analysis explores the competitiveness of export products in each country and identifies areas for improvement. The findings reveal that Indonesia has a higher number of export products with high competitiveness than Namibia. However, both countries face challenges in boosting the overall competitiveness of their export portfolios. The study emphasises the need for diversification and value-added processing to enhance export capabilities and reduce import reliance. Drawing insights from Chile and Uruguay, it highlights the importance of economic diplomacy and bilateral trade agreements in strengthening trade relations. The study concludes with recommendations for policymakers and future researchers to foster economic growth and maximise the trade potential between Indonesia and Namibia. [ABSTRACT FROM AUTHOR]

This study explores Saudi Arabia's emerging adventure tourism sector, highlighting its potential as a dynamic destination for enthusiastic explorers. Anchored within the strategic framework of Vision 2030, Saudi Arabia is rapidly transforming its tourism landscape to diversify its economy and attract visitors. Leveraging its diverse geographical features, including the Rub'al Khali and Red Sea, the Kingdom offers a wide array of adventure tourism experiences. The aim of this study is to investigate various facets of adventure tourism in Saudi Arabia, including desertexpeditions, marine activities and cultural exploration. Additionally, insights from a comprehensive stakeholder survey are integrated to unveil perceptions regarding adventure tourism. Key findings indicate that adventure tourism holds significant potential for economic growth, job creationet and environmental conservation in Saudi Arabia. Moreover, opportunities for enhancing Saudi Arabia's global tourism appeal through strategic initiatives in adventure tourism are revealed. Through this analysis, the study contributes to a deeper understanding of the strategic initiatives driving the expansion of adventure tourism in Saudi Arabia and its implications for Vision 2030's broader objectives. It emphasises the originality of the study in exploring this sector within the Saudi Arabian context and provides insights into the future trajectory of the Kingdom's tourism industry. [ABSTRACT FROM AUTHOR]

While economic diversification is crucial for economic development in most countries, it remains a challenge for some low- and middle-income developing nations, as well as for small and non-touristic economies. This research paper assesses the current state of economic diversification in the Arab Maghreb countries, including Algeria (the leading state), which has adopted various strategies to boost its economic diversification across different sectors. The aim is to understand the role of foreign trade liberalization adopted by the Maghreb countries in economic diversification and the extent of its impact on their economic development, positioning them among developed nations. To achieve this, we will examine the economics of these countries, particularly Algeria, to illustrate the close link between foreign trade and the economic development performance of these nations. [ABSTRACT FROM AUTHOR]

Nowadays, developing the best policy mix to manage national industrial development is an open question. The inherent complexity and competitive circumstances increased the risk of failure and challenged the development of national programs, especially in the case of developing economies. To address such a complex world, this study proposes a novel scenario-based economic complexity analyzing methodology to overcome future uncertainties. The method contains two independent research lines. The first one evaluates and prioritizes industrial development by referring to the opportunity gain and product complexity indexes (a historical and current analysis). The other is to develop future scenarios through an expert-based process to uncover the most plausible futures (future-oriented evaluation for uncertainty behaviors). Then, results merged to increase a robust policy to guarantee development success and reduce failure risks. Iran has been selected as the case study since the country is facing a very uncertain future both from political and economic perspectives. Results revealed that the priority is to focus on the opportunity gain of products instead of product complexity since the country is facing international sanctions, limited investment capacities, and the potential of global challenges in the era of globalization, similar to the world faced during COVID-19 pandemics. [ABSTRACT FROM AUTHOR]

The discovery and the swift rise in the COVID-19 confirmed cases in almost all the countries of the world including Nigeria, is one of the greatest public health challenges that has affected the foundation of the global system in an unprecedented manner. How effective a government responds to public health emergencies is dependent on the state capabilities and capacities, including the existing structures, facilities, available manpower, policy coordination and sustainable finances. This study, therefore, analyzes the effectiveness of state capacity in the containment of the COVID-19 pandemic in Nigeria. Relying on the operational, fiscal and political components of the state's capacity, this study argues that the containment measures of the Nigerian state were drastically limited by lack of trust, over-centralization of policy responses and declining revenue occasioned by structural and institutional deficiencies. The study adopted a qualitative approach anchored on the documentary and content analysis methods and ex-post facto research design. Based on the findings, the study renews the call for political restructuring and economic diversification as the desiderata for strengthening the overall capacities of the Nigerian state in managing emergency situations. [ABSTRACT FROM AUTHOR]

Although tourism has produced long-term growth and progress, the economic consequences of this economic specialisation, which is summarised by the paradoxical effect known as the Dutch Disease, alongside the worst financial performance in tourism-led economies as a result of the COVID-19 pandemic, indicate the need for diversification in such economies. Previous research has overwhelmingly shown that tourism development results in decreases in traditional exports, overdevelopment of services and marginalises the weight of industry in the economy. Using a theoretical dynamic general equilibrium model, this article demonstrates that the Dutch Disease can be avoided in tourism-led economies, precisely owing to tourism specialisation, and non-tourism development is possible. More importantly, non-tourism development can be achieved by simultaneously enhancing the quality of tourism-based activities to increase international competitiveness. [ABSTRACT FROM AUTHOR]

This research addresses the critical opportunities and challenges confronting economic sustainability for hydrocarbon-based economies. The primary objective is to advocate for a transformative shift towards diversified and knowledge-centric economic models to ensure long-term sustainability. The literature review exposes vulnerabilities in hydrocarbon-based economies. The study innovatively explores multifaceted dimensions of economic diversification, including governance issues, societal well-being, and the necessity for robust ecosystem frameworks. Utilizing a qualitative case study methodology, the research investigates Qatar's initiatives, such as the Qatar National Vision 2030 and government programs, aiming to reduce dependence on hydrocarbons and foster innovation. Insightful semi-structured interviews provide nuanced perspectives on innovation in the hydrocarbon context with business and academic professionals. The primary data collection method involved the following distinct groups: five business professionals and eleven academic experts, representing eight outstanding local and external organizations. Key findings underscore a holistic view of innovation, associating it with practical solutions, adaptability, and transformative potential, showcasing diverse approaches ranging from business-centric to collaborative and user-centric methods. Identified challenges in the education system, the urgency for a matured innovation ecosystem, and opportunities in sustainable energy further enrich the study. Moreover, this research examines the challenges and mitigation strategies associated with economic diversification in hydrocarbon-driven economies, focusing on Qatar. The research recommends sustained efforts in economic diversification, educational reform, and technological integration for hydrocarbon-based economies. Policymakers, businesses, and academics can leverage these insights to navigate the complexities of resource dependency and ensure long-term viability. The commitment to addressing challenges faced by hydrocarbon-dependent nations remains crucial, with a dedication to fostering economic diversity, innovation, and educational excellence for a resilient and prosperous future. [ABSTRACT FROM AUTHOR]

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Diversity of economic activities and their diversification determine the key factors of sustainable development of the Russian regions. The relevance of this study lies in the search of connection between the present economic process and such parameters of sustainable development as social well-being, economic and environmental stability. The research is based on examination of data of the Federal State Statistics Service, its publications, and other scien tific sources. The methodology includes a comprehensive analysis of economic indicators of diversification and their correlation with the three indices described above. The presented results demonstrate a direct connection between the level of economic diversification in the regions and their sustainable development. It is shown that regions with a more varied economic structure have higher indicators in the field of social stability, economic growth, and environmental safety. The authors determine that diversification as a whole does not depend on the production orientation or the traditional industrial equipment of a region. It is identified that innovative practices may be implemented in almost all subjects in case if a number of administrative barriers will be overcome. It is revealed that the level of sustainability of regional development directly depends on the degree of diversification of economic processes.

Our investigation, bolstered by the robust gravity trade model and panel data econometric technique, underscores the pivotal factors that influence trade interactions between Saudi Arabia and the BRICS nations—Brazil, Russia, India, China, and South Africa. The study, spanning from 1998 to 2023, delves into key economic metrics such as the gross domestic product, exchange rate fluctuations, inflationary trends, political conditions, and trade deals. We employ a range of econometric strategies, including pooled Ordinary Least Squares (OLS) and fixed effects models, to reveal that the GDP of BRICS states consistently and significantly impacts trade volumes. Specifically, a 1% increase in the GDP of partner countries correlates with a 0.37% rise in trade volume within the pooled OLS model. This effect amplifies to 1.43% when adjusting for temporal and country-specific factors in the fixed effects, underscoring the importance of accommodating unobserved heterogeneity, which refers to the unmeasured factors that can influence the relationship between GDP and trade volume. The political stability of BRICS nations mitigates transactional risks and promotes more stable trade relationships, thereby enhancing trade flows. Fluctuations in exchange rates exert positive and significant effects. This indicates that a more robust Saudi Riyal, an essential policy instrument, can enhance trade by increasing the competitiveness of Saudi exports. This study demonstrates that economic magnitude, political stability, and exchange rates affect Saudi Arabia’s trade with BRICS nations. These results bolster the Kingdom’s Vision 2030 objectives for economic diversification. This research advocates for stable political climates and strategic trade agreements to enhance trade relations. This study asserts that this approach will guarantee sustainable growth and diminish the Kingdom’s reliance on oil exports, instilling optimism in the Saudi economy.