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A nation brand impacts on a country’s economic development, stimulating or, contrarily, limiting people and organisations’ readiness to invest various resources within a particular jurisdiction. Simultaneously, a nation brand originates in all activities of organisations operating in the country’s territory. The paper aims to develop theoretical foundations of the nation brand management as a system. The methodological basis of the study is the concept of nation branding and the systems approach. A set of general scientific methods of analysis, synthesis, systematisation and generalisation are used. As a result, the paper provides and describes a system for the nation brand management that comprises input (existing perception of a country), transformation processes (creation of an image), and output (the image shaped). The value of the developed system lies in its ability to coordinate the interests of diverse stakeholders. The article presents a vision of 7-S model implementation for the nation brand based on the understanding of the relationships that lead to the formation of nation brand as well as the representation of external and internal dynamic processes that evolve over time, etc. The findings contribute to grasping the essence of the nation brand management using the principles of the systems approach, which potentially enhances the country’s economic development.

The goal of the present paper is to analyze changes in the compositional structures of Georgia's economy, explore the related qualitative transformations and explain implications for trade and development. By comparing the evidence of several European countries, we put Georgia’s structural changes within a broader regional-level context. We rely on two key measures of structural transformation: sector employment shares in total employment and sector value-added shares disaggregated at the industry level. To explain trade implications, structural transformation indicators across exporting sectors are evaluated. The existing divides between structural transformation of Georgia and that of the Eastern European economies reveal those structural risks that can negatively affect regional positions of Georgia and its long-term economic development.

The current paper aims to study the application of this theory in the current economic context in Romania, contributing to filling the gaps in the existing research on this subject. Thus, in the practical part of the paper, a non-linear regression model was created using the volume of greenhouse gases as the dependent variable (representing environmental degradation) and the GDP per capita as the independent variable (representing the economic development of the country). The results suggest a significant impact of economic development on environmental pollution in Romania between 1990 and 2022. The positive correlation between GDP per capita and greenhouse gas emissions, as indicated by the positive coefficient of DPIB (-1), underscores the importance of managing economic growth sustainably to mitigate environmental impacts. This finding aligns with Kuznets' environmental curve theory, which proposes that initially, rising per capita income can result in higher pollution and greenhouse gas emissions as developing nations prioritize economic advancement over environmental concerns. However, as economies progress and mature, there is an opportunity for the adoption of cleaner technologies, the implementation of environmental regulations, and investments in sustainability, potentially leading to a reduction in both greenhouse gas emissions and pollution.

The following research paper conducts a comprehensive analysis into the intricate dynamics governing the relationship between Foreign Direct Investment (FDI) and International Trade, with a specific focus on the Western Balkan Countries-6 (WB-6). This research spans the period from 2000 to 2020 and seeks to shed light on the interplay between FDI and International Trade within this region. To analyse and interpret these dynamics, various regression models, including Ordinary Least Squares (OLS), Fixed Effects, Random Effects, and the Hausman-Taylor model, are employed as analytical tools. Moreover, the research takes into consideration the influence of specific institutional factors within each country, which play a pivotal role in shaping foreign investors' decisions to invest in a particular country. The study's results reveal that gravity factors, in conjunction with institutional determinants such as economic integration, control of corruption, political stability, and other indicators of governance quality, significantly impact the attractiveness of the WB-6 countries to foreign investors. The findings of this paper hold substantial relevance for the development of an analytical framework aimed at evaluating national policies and institutions geared towards enhancing the appeal of Western Balkan countries to foreign investors. Furthermore, the research underscores the importance of these host countries prioritizing efforts to bolster the effectiveness of governmental institutions, combat corruption, streamline bureaucratic processes, and improve overall economic conditions to attract and retain foreign investment.

This research paper explores the transformative potential of intelligent economic systems in the context of sustainable economic growth. This potential determines the impact of integrating artificial intelligence, data analytics, and automation into economic processes on key dimensions, including economic growth, resource efficiency, and environmental sustainability. Through a multidimensional approach, this research employs quantitative analyses, qualitative insights from stakeholder interviews and expert surveys, and cross-regional comparisons to provide a comprehensive perspective on the subject. The findings reveal a compelling positive relationship between the adoption of intelligent economic systems and economic expansion. Regions that have embraced these systems consistently outperform their non-adopting counterparts, demonstrating higher economic growth rates, enhanced resource efficiency, and improved environmental sustainability. Innovation emerges as a central driver of growth, while challenges related to workforce adaptation and data administration require careful consideration. This research paper not only underscores the significance of intelligent economic systems in shaping a more sustainable and prosperous future but also offers practical recommendations for policymakers, businesses, and individuals. It calls for a collaborative global effort to harness the transformative power of intelligent economic systems, highlighting the potential to create a harmonious balance between innovation, intelligence, and sustainability in the pursuit of economic prosperity. The research carries significant practical value for a wide range of stakeholders, including policymakers, business leaders, investors, and the broader community. By empirically examining how intelligent economic systems, characterized by the integration of technologies like artificial intelligence, big data analytics, and automation, impact economic growth, resource efficiency, and sustainability, the research offers actionable insights and recommendations that can guide decision-making in both the public and private sectors.

The study of market power has garnered interest from academia, policymakers, and industry in recent times since the publication of de Loecker et al. (2020). This paper introduced a novel methodology to estimate the markup, a proxy commonly used to denote market power. Using said methodology, they found that the markup has been increasing nearly continuously since the 1980′s. Rising markups have been connected to a myriad number of negative economic developments, yet most papers are constrained to study these effects on specific industries related to manufacturing and service. Furthermore, even though data exists for a considerable number of countries globally, the quality and reliability is reduced when examining low-income economies.11 Note: this paper makes references to “high-income” and “low-income” countries. The income groups mentioned are based on the four-income classification system proposed by the World Bank and is explained in more detail here.To circumvent these problems, the authors have devised an alternate approach to calculate the markup, not by using firm-level data but by using macroeconomic data and an estimation procedure based on Generalised Maximum Entropy (GME). The methodology permits the estimation of markups for virtually every country in the world and a substantial number of industries.The dataset provides estimates of the markups for 170 countries in the world for the so-called Primary Foods industry (comprising agriculture, hunting, fishing, and logging). It was calculated by aggregating two datasets: the EORA input-output tables and the UN FAO-Stat database. The merged dataset produced a panel from which the markup estimates were then calculated.The publication potential of this dataset is very high, as no other source exists that captures this detail of information across countries with different income levels. The Primary Foods industry is also crucial for the development of poorer countries, as it often accounts for a large portion of their economy. This dataset opens up avenues of research finding ways to reduce the markup, thereby making economies more efficient and potentially improving the welfare of agents within the economy.The usage of macro-data opens up additional avenues of research not available to micro-data, including measuring the impact of Global Value Chains (a form of globalization), institutional quality, and more on markups.

The purpose of the paper is to critically analyse and understand how foreign investment can affect and potentially improve Ukraine's competitiveness in the global market after the war. Methodology. This study aims to analyse the various aspects and dimensions of foreign investment, in particular direct investment flows, and their impact on key sectors of the economy in Ukraine in the post-war period. In addition, it attempts to assess the challenges and opportunities that foreign investment creates in the context of rebuilding and modernising Ukraine's infrastructure, enhancing its technological and innovation potential, and strengthening its labour force and industrial base. The survey results showed that foreign investment has had a significant positive impact on Ukraine's economic growth in the post-war period, especially in the restoration of key industries and infrastructure. FDI plays an important role in attracting advanced technologies and expertise to Ukraine, thereby increasing its competitiveness. The document emphasises the need for policy reforms to create a more favourable investment climate, including improved legal protection for investors, anti-corruption measures and increased efficiency of the bureaucracy. The results of the study point to the existing challenges in attracting foreign investment, such as political instability, infrastructure deficit and unclear investment legislation. Finally, the publication forecasts the long-term impact of foreign investment on economic stability and growth trajectory in Ukraine, which leads to cautiously optimistic conclusions. Practical implications. The research aims to provide insights and recommendations on how Ukraine can effectively use foreign investment to rebuild its economy, increase its global competitiveness and ensure long-term sustainable development in the post-war period. The SWOT analysis in this article helps to identify strategic areas for improvement and capitalisation. It can help them formulate policies to improve the investment climate by focusing on strengthening strengths, mitigating weaknesses, seizing opportunities and protecting against threats. Value/Originality. The value and originality of the paper lies in its comprehensive and detailed study of how foreign investment can be a key factor in reforming and reviving Ukraine's economy after the war. The paper specifically examines the post-war economic landscape of Ukraine, a topic that has not been widely studied. It provides a fresh perspective on the challenges and opportunities for a country recovering from war.

In the United States, the rise in income inequality and downward intergenerational social mobility since the 1970s represent twin problems facing community and economic development today. This paper proposes a Structure of Labor theory to apply at the local and regional level to address these development challenges. The objective is to provide a simple local approach to development that maximizes upward economic mobility and enables individuals and communities to achieve their development goals in the 21st century development landscape of the United States. The proposed theory fuses free-enterprise principles with state-planned dirigiste efforts to maximize the best of both theoretical perspectives. After reviewing pertinent literature and articulating the Structure of Labor theory, the latter sections of the paper explicate its implications for community and economic development practice.

The purpose of this paper is to investigate the connection between countries' openness to international trade and economic development, i.e. the standard of living of итс citizens. Given that this is a frequently researched question among economists with still open conclusions, research on this topic always sheds some new light and contributes to new conclusions on that aspect. The methodology used in the paper is a correlation analysis, where we compared different measures of openness with economic development measured by GDP per capita expressed in purchasing power parity. The sample on which we performed the analysis is 16 countries, some of which have completed the transition process like the countries of so-called New Europe, and some are still stuck in transition, such as our countries of our region. Each of these countries continues to be subject of an analysis of transition progress in the EBRD’s Transition Report. The results clearly show a strong and positive correlation between openness to international trade flows and economic development, with this relationship being stronger if we look at export flows than import flows. The conclusion is that openness has no alternative, and that the countries of the region must strengthen their export base and export performance in order to reduce the gap in relation to the countries of New Europe, for which we can easily say that have successfully completed the transition process.

Early papers found empirical support for a natural resource curse—the notion that exporting natural resources is detrimental to economic growth. Later papers, using reportedly improved econometric models and data, largely reversed these early findings by estimating that natural resources improve economic performance. However, this changing coefficient on natural resource dependence over time may not only be a function of model or data quality. Masked by this evolution in the economics literature is the possibility that the fundamental relationship between natural resources and economic performance has changed over the past several decades. This paper sheds a new perspective on the substantial resource curse literature by repeatedly estimating a single econometric model on data that evolve over time. The coefficient on natural resource dependence is estimated to steadily increases with the passage of time from a value that is negative and significant (for 1970, the basis for much of the early literature) to a positive and significant value a few decades later. Whatever natural resource estimated initially with data from 1970 seems to have evolved into a resource blessing over time.

The aim of the paper is to examine socio-economic determinants of environmental degradation. The empirical study employs quantile regression which enables separate predictions for different levels of the dependent variable to be made. This study investigated 62 countries from low, middle and some high income countries for 1995–2019. The Environmental Kuznets Curve (EKC) is verified for the aforemented countries in analyzing the relationship between economic growth and carbon emissions using quantile regression. The study also revealed that the schooling rate has a pollution-increasing effect. In addition to the reducing effects of trade openness, democracy, and economic freedom variables on environmental degradation, the opposite effect of life expectancy at birth is observed, increasing environmental degradation. In this context, this paper concluded that the EKC hypothesis is not supported. The government should encourage pollution-reducing policies in low and middle income countries.

Urban green spaces have long been cherished as the “lungs of the city”, it can not only improve air quality and enhance residents' health. The impact of urban green spaces on air pollution and residents' health has attracted great attention. In this paper, we select 31 provinces in China as research samples and use ArcGIS software to draw spatial distribution maps of urban green spaces, air pollution, and residents' health in China, characterizing their spatiotemporal changes in order to explore whether there is a correlation among the three. On this basis, this paper utilizes panel data of Chinese provincial-level from 2010 to 2020 and conducts empirical tests through a two-way fixed effect model and a threshold regression model. The research findings are as follows: (1) Urban green spaces not only bring environmental benefits, but also health benefits, and the health benefits are greater than the environmental benefits. (2) There is a health risk of air pollution in northern China, and the health benefits of urban green spaces are not significant. Conversely, there is no health risk of air pollution in southern China, and the health benefits of urban green spaces are significant. (3) Although environmental regulations can enhance the health benefits of urban green spaces, the role of environmental regulations in enhancing the health benefits of urban green spaces may be further weakened as the economy develops.

This paper constructs the evaluation index system of Civic and Political Education and Digital Economy Development and uses the entropy value method to calculate the weight value of each index in the evaluation system. A gray correlation analysis model is established to explore the degree of correlation and relevance of indicators in the evaluation system of ideological and political education and economic development. Analyze the synergistic development between the two subsystems of ideological and political education and digital economic development by using the coupling degree and the coupling coordination degree analysis method, and explore the degree of coordination of the coupling development between the two. The analysis of the relationship between civic and political education and economic development in the sample sites found that the integrated gray correlation between the two is 0.610, which is a moderate level of correlation. The coupling degree of the two is increasing year by year, and it will reach 0.525 in 2023. On average, the coupling coordination degree reaches 0.610, which belongs to primary coordination. This paper provides data support for the improvement of the coupling coordination between ideological education and economic development in the era of the digital economy. It lays the foundation for the common development of ideological education and economy.

Based on the framework theory of industrial digitization, digital industrialization, digital governance and digital value-added in a sustainable environment, this paper systematically studies the relevant elements of governance and value distribution in the sustainable environment of global trade, and its impact on the development path of human beings. This paper explores the way to embed digital technology into the global value chain to realize digital empowerment, measures the competitiveness index of Keqiao's textile industry in the global value chain, analyzes the technical and environmental challenges faced by China's textile industry in the digital age, and proposes the corresponding countermeasures to deal with the impact of global value chain participation and to improve the international competitiveness of China's textile industry.

Purpose – Globalization occupies a central research activity and remains an increasingly controversial phenomenon in economics. This phenomenon corresponds to a subject that can be criticized through its impact on national economies. On the other hand, the world economy is evolving in a liberalized environment in which foreign direct investment plays a fundamental role in the economic development of each country. The advent of financial flows – foreign direct investment, remittances and official development assistance – can be a key factor in the development of the economy. The purpose of this study is to analyze the effect of financial flows on economic growth in developing countries. Empirically, different approaches have been used. As part of this study, an attempt was made to use a combined autoregressive distributed lag (ARDL) panel approach to study the short-term and long-run effects of financial flows on economic growth. The results indicate ambiguous effects. Economically, the effect of financial flows on economic growth depends on the investor’s expectations. Design/methodology/approach – To study the short-run and long-run effects of financial flows on economic growth, this paper considers an empirical approach based on the panel ARDL. This model makes it possible to distinguish between the short-run effect and the long-run one. This type of model is based on three estimators, namely, mean group, pooled mean group (PMG) and dynamic fixed effect. Findings – Results confirm the existence of a long-run relationship because the adjustment coefficient (error correction parameter) is negative and statistically significant. This paper finds that the PMG estimator is more consistent and more efficient. In the short-run, foreign direct investment do negatively affect economic growth, the effect is no significant in the long-run. On the other hand, the effect of remittances on economic growth is significant in the short-run. However, it is no significant in the long-run. Finally, the results suggest that the effect of official development assistance on economic growth is insignificant; both in the long-run and in the short-run. Originality/value – To study the interaction between financial flows and economic growth, some empirical methodology are used such as the dynamic panel data and the autoregressive vector (VAR) model. In this study, we apply the panel ARDL model to analyze the short-run and the long-run effect for each financial flow on economic growth. The objective is to study the heterogeneity on dynamic adjustment in the short-term and long-term.

Trade and economic development are the main influencing factors of environmental pollution. The existing literature mainly discussed the impact mechanism of trade and economic development on land pollution, ignoring the transfer effect of offshore pollution. This paper selected the panel data of 47 coastal cities from 2003 to 2016 to empirically test the Environmental Kuznets Curve (EKC) hypothesis and the "pollution shelter" hypothesis. The results showed that there was a negative correlation between foreign trade and industrial wastewater discharge in coastal cities, but it was positively correlated with offshore pollution, indicating that there was a pollution transfer effect. The relationship between offshore pollution and economic growth in coastal cities was the relationship of the "U" shaped curve did not conform to the EKC hypothesis. The conclusion of this paper means that environmental pollution should be managed from the perspective of land and sea overall planning, and the effect of pollution transfer should be suppressed.

The paper aims analyzing the use of OpenAI Chatbot as an academic writer. The Chatbot was asked to write about Economic Development, specifically about the High Pyrennes and Aran Region (HPAR) and its regional economic development institute – IDAPA. The method used was exploratory, but also analogous to the “reinforcement learning” (section 1). After the introduction, the Chatbot was asked to write a paper on the economy of HPAR (section 2). Due to the incompleteness of the task, the Chatbot was then asked to write only paragraphs about IDAPA (section 4). Given its answers have presented the “Russian dolls” effect, the Chatbot was asked to state IDAPA’s major challenges (section 6), and then the forms to surpass such challenges (section 7). Intercalary sections were used to analyze the Chatbot pieces of writing (e.g. sections 3, 5, and 8). The main conclusion is that, yes, the OpenAI Chatbot does deliver academic writing over regional economic development – as well as it can make a review of scientific literature.

Our research paper surveys prior research on derivatives markets. We mainly review the literature investigating the impact of introducing derivatives markets on the underlying market and the overall economic development. Particularly, we summarize papers investigating the effects on the spot market liquidity, spot market volatility, and the price discovery process. We review the literature on several countries, but the survey paper appears to be concentrated on Saudi Arabia. Our paper contributes to the literature and sheds light on introducing the derivatives market in Saudi Arabia. This survey is useful to policymakers and investors as well.

Industrial Park is a part of urban development and plays an indispensable role in promoting regional economic development. However, the high consumption of resources and the concentrated emission of pollution pose a great threat to the ecological balance and human health. Therefore, the future of industrial park needs to be balanced with economic growth while realizing resource conservation and environmental improvement as much as possible. However, there is still a research gap in analyzing the relationship between ecological environment quality (EEQ) and economic development (ED) at the industrial park scale. This paper first constructs the new remote sensing ecological index (RSEInew) model to measure the EEQ of Suzhou Industrial Park (SIP) from 2000 to 2020. Then this study constructs an ED index system to evaluate its economic situation. Finally, this paper utilizes the Environmental Kuznets Curve (EKC) model and the coupled coordination degree (CCD) model to deeply analyze the relationship between EEQ and ED. The results show that: (1) The average annual growth rate of EEQ in SIP is −1.50 %, with a general downward trend. Over the past 20 years, the ecological environment of SIP has not deteriorated extensively. (2) The ED of SIP is steady and rising, with an average annual growth rate of 10.17 %. (3) From 2000 to 2020, the EKC between EEQ and the ED of the SIP takes on an inverted “N” shape, with its CCD rising from barely coordinated to highly coordinated. This study can provide a reference for studying the quality development of areas at the industrial park level.

IntroductionThis paper investigates the links between deforestation and key economic, social, environmental, and geographical variables. We focus on per capita GDP, total forest cover, and the population across a diverse sample of countries from five continents for the last three decades.MethodsThis study utilizes a regression model using panel data to show the impact of key economic, and social variables on deforestation. Also, set of dummy variables is introduced in the paper. To enable the investigation, we use a set of dummies to capture their influence. The random effect specifications are used in this investigation. The research focuses on a period ranging from 1990 to 2020.ResultsResults show how different socio-economic variables influence deforestation. For example, disruptive events like the COVID-19 pandemic and the financial crisis had a negative effect on forest area development across all models. GDP per capita has different impact depending on the size of a country. Former colonies seem to have more deforestation.ConclusionsThe global environmental challenges posed by human activities and their impact on the state of forest have become increasingly evident. It is necessary to undertake policy and governance reforms to establish a solid legal framework, strengthen enforcement mechanisms, and foster transparency and accountability. The promotion of sustainable agriculture and agroforestry practices can substantially alleviate pressure on forests. Furthermore, it is necessary to mitigate disruptive events like pandemics by establishing specific strategies and creating contingency plans.

This paper analyses the relationship between the deterioration of the rule of law and the negative consequences on socio-economic development in the contemporary world. To scrutinize this correlation, quantitative-comparative analysis and secondary data review methods will be used. This aims to determine the extent to which the rule of law has a determining role or not in the development of states and societies. These results can serve as data for the basis of qualitative and sustainable public policies. The research aims to compare and contrast countries such as the United States of America, Singapore and Romania and determine the correlation between the deterioration of the rule of law, with a specific focus towards measurable elements such as the absence of corruption, and the consequences over economic development and prosperity. The country case studies have been identified purposefully to reflect different geographical areas, different historical pasts, and various levels of economic development. Despite the differences, the research aims to solely analyse the correlation between the rule of law and economic status.

International trade is a vital driver of economic development for nations worldwide, and Bangladesh, as a developing country in South Asia, strategically utilizes trade as a key element in its economic growth agenda. This paper examines the impact of internal factors on Bangladesh's international trade, employing Ordinary Least Squares (OLS) regression analysis to analyze data spanning from 2000 to 2022. The study focuses on factors such as GDP, inflation, real interest rates, unemployment rates, government expenditure, population growth, remittance inflows, government expenditure in education, macroeconomic management, and tariff rates. The results reveal a strong statistical significance between the predictors and Bangladesh's international trade volume. Notably, personal remittances, government expenditure in education, and macroeconomic management index exhibit significant influence on international trade. The findings provide valuable insights for policymakers and stakeholders to enhance Bangladesh's trade performance, contributing to its sustainable economic development.

ABSTRACT This paper discusses the applicability of economic policies and other developmentalist governmental actions to financialized economies. It mobilizes the theoretical-methodological regulationist principles for a historical and institutional macro-analysis. After a brief review of the concepts of the Regulation School, including the “economic policy regime” (Théret, 1992; Lordon, 2002; Boyer, 2015), the Brazilian case is analyzed as a remarkable example of institutional compatibility with rentier-financial accumulation to the detriment of the accumulation of productive fixed capital. Several indicators of this case are presented.

Tourism is an important sector that has an impact on the development of a country's economy. Among the main benefits of tourism are income generation and job creation. It is the most important source of wealth in many parts of the country. The national economy can benefit from tourism as long as there is availability for investment to develop the infrastructure that will meet the needs of tourists. Romania has tourist potential to develop coastal tourism and mountain tourism, but also other alternative forms of tourism. The aim of the article is to present the impact of tourism on the economy, especially on income. The paper presents tourism as an excellent potential, a catalyst for economic growth thus representing a key sector at the macro-economic level.

Central and Eastern European (CEE) countries are struggling with internal and external macroeconomic and social factors in their catching-up strategies to be closer, as economic wealth, to the Western developed European countries. In these ex-communist countries, institutional factors could be seen as critical for success in narrowing the income gap. The paper proposes an analysis of the impact of economic and financial development and globalization on the income gap in 11 Central and Eastern European (CEE) countries (Bulgaria, Croatia, Czechia, Estonia, Latvia, Lithuania, Poland, Romania, Slovak Republic and Slovenia) for the period of 1996 to 2019, taking into consideration institutional factors. The study analyses the variables: transition coefficient as a proxy for income gap, GDP per capita, KOF Financial Globalisation Index, Financial Development Index and World Bank Institutional Indicators in a panel approach methodology and estimation of FMOLS and DOLS equations. The paper’s findings show that all considered factors have a significant contribution to the income gap in the examined period of time. Economic and financial development, as well as institutional quality, is positively associated with the closing income gap, while globalization has a negative influence. It is also revealed the direction of the causality relationship between the considered variables: from economic and financial development, globalization and institutional quality to the income gap. These findings suggest some policy recommendations in support of the continuation of the European integration process.

Increasing the efficiency of communications with customers maintains the economic development and growth in the services and food retail industry. One way to succeed in this objective is introducing digital technologies for interaction with clientele. The paper aims to assess the efficiency of the customer loyalty programmes in food retail that are based on digital technologies. Methodologically, the study relies on the system approach, the relationship marketing, and the organisational economics. The index method and comparative analysis are applied to examine the data on customer loyalty programmes of ten food retailers. Comparison of these data reveals the most prevalent tools for attracting customers and helps create a conceptual model of the CRM system that provides for a combination of these tools. Following these findings, the paper specifies the indicators for examining the efficiency of the customer loyalty programmes and develops recommendations on refining the operation of CRM systems by retailers. The research results may become a basis for creation, implementation, and assessment of loyalty programmes of retail chains, which are targeted at enhancing the quality of interaction with clientele.

The last decade has seen major transformations in the tourism sector, influenced by changes in consumer behaviour and the integration of technology. The Metaverse has emerged as a transformative force but with certain limitations. In this sense, the literature highlights the need to address research gaps in terms of the levels of acceptance of this new technology and with regard to the challenges faced by small and medium-sized enterprises (SMEs) in the tourism sector. Thus, the main objective of this paper is to assess the adoption intention of high technology in tourism by small and medium-sized enterprises, focusing on the key role of the Metaverse as a new paradigm. For data collection, a total of 172 small and medium-sized enterprises have been surveyed using a double methodology, PLS-SEM and QCA, for the analysis. The results show that small and medium-sized tourism enterprises intend to adopt technologies associated with the Metaverse for the concept of Business Satisfaction rather than for the possible performance it may represent. These results represent an important advance in the understanding of the integration of Metaverse technologies in the tourism sector in this type of companies, where it can help to adopt diverse strategies in the business environment without having an excessive Resistance to Change, helping to be able to face it in conjunction with other capabilities.

Industrial Organization, the Resource-Based View, and the Relational View are some classical, well-established, and widely accepted theories in the strategic management domain regarding the understanding, explanation, and prediction of competitive advantage of firms and above-average firm performance. Recent evidence of economic geography and regional economics added to this stream of research new perspectives like cluster theory and microeconomic competitiveness. Despite the high enthusiasm with which companies and policymakers embraced the new advancements, there is some contradictory evidence regarding the positive effect of local conditions on firm performance. Thus, in this paper, we aim to empirically test some aspects of a modern regional development theory, proposed mainly by Michael Porter and collaborators, and the impact of these aspects on firm performance. External determinants considered at three levels of analysis (local economy, local clusters, and industry) will be investigated in relation to firm performance. We will analyze empirical data through detailed correlational analyses and by building multilinear regression models. After the statistical analysis of the answers provided directly by 67 medium and large manufacturing companies operating in Romania, we will provide empirical support for some external determinants, while for other determinants, we will show that the data rejected the proposed associations. The main conclusion derived from this study is that different combinations of external determinants, considered at all three levels of analysis, have a positive and significant effect on different measures of firm performance. The findings in our paper are important for both regional economics and the strategic management literature, suggesting the importance of creating local or urban conditions depending on the type of performance that the firms in the local economy are underperforming.

This paper comprehensively investigates the different measurements and results of embracing green energy, with an emphasize on its significance for advancing sustainable financial development and safeguarding ecosystem. It can be concluded from the study that the unfavorable impacts of fossil fuel combustion on climate change can be reduced by focusing on renewable energy sources. The various types of green energy resources that include wind, geothermal, solar, hydro etc. and its current scenarios of utilization across the world has been focused upon. The most abundant and easily extractable source of energy was solar based system. However, the literature confirms that the sector requires further enhancement in the technology to fully extract the power from these resources. The storage solutions of various capacities such as magnetic storage, battery fuel cell etc., can work as a backup to these resources. The major improvements in the field of renewable energy give adaptable ways to decrease the carbon impression of transportation, fabricating, and control systems, which in turn advances the output in terms of available power. The papers gives remarks on the key challenges and solutions for sustainable use of energy which is important for enforcing the balance in the economic growth and ecosystem enhancement.

Objective: The objective of this paper was to analyze the bidirectional relationship between financial development and economic growth for a dataset of Latin American and Asian developing countries between 2001 and 2019. Method: This research employed an empirical approach to analyze the statistical relationship between financial development and economic growth, by presenting an estimation of a system of simultaneous equations for a panel of Asian and Latin American countries using 3SLS. Main Results: The results presented in this research provided evidence that financial development does not appear to have a significant impact on economic growth, although growth appears to have a significant and positive influence on financial development. Moreover, the results also suggested that regulatory quality and domestic credit directed to the private sector have a positive effect on economic growth, while urbanization and education showed a negative influence on growth. The estimated model also indicated that urbanization has a positive influence on financial development while foreign direct investment presented a negative effect on the development of the financial sector. Relevance / Originality: Most of the research agenda on the topic of finance and growth has focused on identifying correlation or causality between these variables, with little attention given to the simultaneous relationship between them. This is still a clear gap in economic literature. Following this premise, the objective of this paper was to analyze the bidirectional relationship between financial development and growth by estimating a system of simultaneous equations using the Zellner and Theil’s (1962) 3SLS methodology. In this sense, the main contribution will be given empirically, based on data and analysis from emerging countries in Latin America and Asia. The fact that financial development has an influence on growth and growth plays a role on the development of the financial sector indicates a simultaneous relationship between these variables. Another relevant contribution is to update the debate on financial systems and economic development for emerging countries, highlighting institutional aspects and financial cycles. Theoretical / Methodological Contributions: The main contribution of this study is in the empirical strategy, whose results dialogue with part of the literature on the financial system and development presented along the text. That is, this research explored the statistical relationship between economic development and financial development for a sample composed by twenty-two Asian and Latin American emerging countries, using a simultaneous equations model.

Establishing institutional arrangements for regulating gas markets toward price convergence is one of the crucial integrational factors. The strategy of the firm and economic development management depends on it. The paper aims to assess the characteristics of price convergence on the natural gas markets of the Eastern European region. This region is relevant for Ukraine in a number of parameters. The assessment was made based on Eurostat data for different groups of consumers, excluding taxes, using the standard deviation detection method of price convergence for 15 countries in 2007–2020. Despite the revealed generally positive price convergence on the natural gas markets in the considered countries after 2014, obtained results showed three points that highlight the heterogeneous structure of the process. First, an even movement toward a single price is detected in groups of large households (the standard price deviation of the price decreased in 2014–2020 from 2.7 to 1.9 euro per Giga Joule or 1.5 times) and medium industrial enterprises (the standard deviation decreased from 1.0-1.7 to 0.6-1.1 or 1.5-1.8 times). Second, the prices for the largest industrial enterprises in considered countries approached the fastest (the deviation decreased from 2.0 to 0.5). Third, in the segment of small enterprises, the deviation even increased from 2.1 to 2.2 (1.05 times). This result highlights the gap in the institutional mechanisms of European integration and sources of uncertainty for the small firms’ management. AcknowledgmentThe paper was funded as a part of the “Determination of institutional conditions for the development of the exchange segment of the gas market” research project (No. 0122U002205), conducted at the State Institution Institute for Economics and Forecasting of the NAS of Ukraine.

ABSTRACT The paper develops a model in which the relation between the real exchange rate and the real wage, in the context of conflictive income distribution, is made explicit. It is noted that the central bank tries to regulate the distributive relation exchange rate and real wages through the changes in the interest rate. The theoretical point is that, under certain circumstances, a relatively depreciated or high level of the real exchange rate might reduce real wages and have a negative impact on economic growth. The paper also provides some evidence for the Argentine case, and suggests that the Classical Developmentalist elasticity pessimism seems, in the case of Argentina, to be validated. Also, the use of the exchange rate as an instrument to bolster redistribution away from the working class, and to promote investment and growth is also not born in the data.

The purpose of the study is to reflect the relationship between economic development and environmental pollution. To achieve this goal, a simulation model of ecological and economic processes has been built. The article discusses general economic reforms that lead to unforeseen damage to the environment. Therefore, the existence of outdated policies, market imperfections, and organizational structures elsewhere in the economy can interact in unpredictable ways with broader economic reforms and create incentives for overuse of natural resources and environmental degradation. That is why the correction of such a situation usually does not require the abandonment of the original economic policy. When conducting simulation experiments, the whole range of possible pictures of the model’s behavior is obtained by varying the coefficient of choice of the strategy, which is a managerial one. The built model reflects the ecological and economic processes associated with air pollution and purification in a certain area based on the specified initial conditions and time series that describe the dynamics of exogenous variables. The model proposed in the study allows predicting the dynamics of endogenous variables (qualitatively and quantitatively), and this behavior is possible with the unchanged structure of the system, and quantitative estimates are reliable until 2040 (further, the dynamics of the main variables is provided to demonstrate the possible S-shaped behavior of the system). The model presented in the paper reflects the relationship between different subsystems (sectors of the economy) with the help of feedback loops and allows to consider the influence of selected subsystems (one on the other), which cannot be done with the help of classical methods used in economics. The built model makes it clear that in order to maintain the ecological balance in the world, the situation will require a serious increase in investments in the development of environmental technologies and reduction of environmental damage from existing production technologies.

During the period of the pandemic and martial law, Ukraine has lost a significant part of its human capital: assessing these losses and developing proposals for their restoration is especially relevant in the context of the need to restore Ukraine’s economy in the post-war period. The purpose of the article was to study and systematize the causes of human capital losses and their structure, to determine the impact of learning losses on the formation of human capital, as well as to summarize proposals for compensation for learning losses and restoration of human capital. As a result of the analysis of the scientific works, a number of factors have been identified that affect the level of learning losses and learning gaps due to quarantine restrictions in various countries of the world, namely, Germany, Spain, Belgium, China. The systematization of information made it possible to group the factors that affect learning losses in Ukraine, with the allocation of groups of factors that are due to the restriction of opportunities to attend educational institutions, and groups of factors that have arisen as a result of hostilities in Ukraine. The paper substantiates the existence of regional differences in the occurrence of learning losses and their impact on the formation of human capital. The clustering of regions has been carried out on the basis of losses of entrants in educational institutions and the region’s contribution to the creation of the gross domestic product of Ukraine. The results of the clustering made it possible to determine the priority directions for the restoration of human capital. Based on the research results, measures to eliminate learning losses and learning gaps for educational institutions of various levels are proposed, which can be applied in practice in the post-war reconstruction of the country’s economy

The paper analyzes the relationship between innovation dimensions, according to the European Innovation Scoreboard, and the entrepreneurship rate in a group of moderate innovator countries. Using the Pearson linear correlation, the author conducted a data analysis based on an empirical study using open data from the Summary Innovation Index – European Innovation Scoreboard (SII‑EIS) and Eurostat for 2013–2019. This period covers the moment when all the countries of the Visegrad Group (i.e., the Czech Republic, Hungary, Poland, and Slovakia – the V4) were classified into the same innovation group according to EIS. However, due to the volume limitations of the article, it was decided that Moderate Innovators from 2019 would be included in the comparative analysis, i.e., when the V4 were last collectively classified as Moderate Innovators. The results of the research positively verify the initial research hypothesis that the EIS indicators show a different strength of relationships with the entrepreneurship rate in the V4 and among other economies classified as Moderate Innovators (according to SII–2020). The variables that describe the quantity and quality of entrepreneurs’ innovations strongly and positively impact the V4 countries’ entrepreneurship rate. In other countries, the variables derived from the investment attractiveness of economies show a significant and positive correlation with the entrepreneurship rate. Based on the analysis of the results, it can be concluded that there is a strong positive correlation between the entrepreneurship rate and the total innovation index, which is compiled each year based on a set of variables for the European Union countries. The study showed that the entrepreneurship rate in these countries is strongly impacted by indicators representing the following groups: Innovators (small and medium‑sized enterprises (SMEs) with product or process innovations; SMEs with marketing or organizational innovations and SMEs innovating in‑house), Attractive research systems (international scientific co‑publications), Finance and support (Venture capital expenditures), Firm investments (Enterprises that provide training to develop or upgrade their personnel’s ICT skills), and Linkages (Innovative SMEs that collaborate with others). The impact of these factors on the development of entrepreneurship in the V4 means that pro‑innovative activities undertaken in operating enterprises strongly correlate with deciding to start one’s own business. Therefore, it can be concluded that entrepreneurship in these countries has an entirely different development basis than in other countries that are Moderate Innovators, where the factors mentioned above were irrelevant.

This paper investigated interventions that can restore the importance of visual arts and crafts in fostering economic sustainability within rural families, in particular, young rural community members. Prior to colonization, visual arts and crafts played a significant role in providing economic subsistence for many households in South Africa. During the inception of formal education, that practice was replaced by scholastic education, prioritizing theoretical knowledge over practical experiential learning, leading to a gradual decline in the subsistence lifestyle. Marxism Theory (1848), which underpins this study, posits that within a capitalist economic framework, workers are exploited whilst company owners amass additional money. Craft manufacturing has the potential to augment self-generated income, making a valuable contribution to economic growth whilst avoiding any form of exploitation. The qualitative convenient sample comprised fifteen school dropouts and graduates from both South Africans and foreign nationals and was studied through face-to-face and telephonically informal conversations. The findings revealed that insufficient application of traditional visual arts and crafts skills in elementary education; inadequate delivery of government services to promote visual arts and crafts entrepreneurship; and the divergent perspectives in defining the concept of “civilization and freedom” impede efforts to achieve economic sustainability. The study recommended that community members should not only rely on government support services but instead utilize government grants to acquire knowledge, develop skills, and adopt subsistence lifestyles that rely on natural resources for sustainable economic growth. The government should also support the establishment of training centres where skilled individuals can impart knowledge and skills to the younger generation and monitor the efficacy of non-governmental organizations. This study not only enhances the well-being of people and communities but also offers valuable material for academic research in several fields. It strengthens comprehension of cultural, economic, and social phenomena within the framework of sustainable development.

This paper tries to track the degree of causation between economic outcomes and political polarization and finds the roadmap of the role of state’s decision-making process under the process of fiscal federalism considering select major states in India. Several composite indices like ‘fractionalization index’ and ‘polarization index’ consisting interrelated parameters have been constructed to verify the impact of religious diversity, government coalition, political concentration on the state’s budgetary process and thus in state’ economic development. A dynamic panel-data framework has been conducted to understand the causality between political concentration and economic outcomes. It has been established significant inverse relationship between social and political polarization and economic outcomes. Women representation makes the governance efficient and thus increases the democratic decentralization in the process.

This paper is devoted to solving the inverse problem (determining the parameters of a system of ordinary differential equations based on additional information determined at discrete points in time) and analyzing its solution for a mathematical model describing the dynamics of changes in the population and capital of two regions of the world. The inverse problem is reduced to the problem of minimizing the target functional and is solved by the method of differential evolution. A numerical method for solving direct and inverse problems is implemented. The developed method was tested on model and real data for countries such as Russia, China, India and the USA.

The relevance of the study is emphasized by the urgent need caused by the sanctions and geopolitical tensions, which manifested itself in disruptions in the foreign materials and consumer goods inflow to Russia. This in turn affected the operation of the country’s vast manufacturing sector. Such a scenario requires innovative conceptual paradigms development for managing the industrial sector in the forced import substitution era. This article attempts to identify and critically evaluate both existing and emerging strategic directions required to upgrade the nation’s industrial machinery to ensure its operational efficiency in the present circumstances. A scholarly effort con sisting of a thorough analysis and expert papers synthesis relevant to this issue has formed the basis of the study. The ways of solving the problems facing the Russian manufacturing industry in the conditions of forced adaptation and modernization have been traced and identified. The socio-economic vector occupies a central place in the formulated resolution, proclaiming the harmonious unification of efforts to diversify production as a potential lever to stimulate inter-sectoral industrial growth. The author has not only identified various areas ripe for strategic transformation, but also emphasized the critical turn towards a socio-economic trajectory that seeks to utilize all available factors. Collective organization of diversified industrial activities can indeed serve as a catalyst to break the current industrial impasse.

The authors of the paper performed a comparative analysis of socioeconomic characteristics of agriculture and the role in economic development of the Republic of Serbia and Romania. The primary goal of this article was to conduct a survey in two countries during 2023, analyzing the social and economic value, using a database of 150 farms (small farms). The statistical analysis gave an insight into the basic aspects of working population in agriculture, age, level of education and management experience on the farm, value of farm production, their income structure and etc. Based on the research and comparison of certain differences in the categories of agricultural development between the Republic of Serbia and Romania, we will analyze the socio-economics characteristics of smallholders who constitute a large share of farmers in those countries and have a big influence on sustainable development and improvement of economic development.

Abstract Background Early Childhood Caries (ECC) is a prevalent chronic non-communicable disease that affects millions of young children globally, with profound implications for their well-being and oral health. This paper explores the associations between ECC and the targets of the Sustainable Development Goal 8 (SDG 8). Methods The scoping review followed the Preferred Reporting Items for Systematic Reviews and Meta-Analyses Extension for Scoping Reviews (PRISMA-ScR) guidelines. In July 2023, a search was conducted in PubMed, Web of Science, and Scopus using tailored search terms related to economic growth, decent work sustained economic growth, higher levels of productivity and technological innovation, entrepreneurship, job creation, and efforts to eradicate forced labor, slavery, and human trafficking and ECC all of which are the targets of the SDG8. Only English language publications, and publications that were analytical in design were included. Studies that solely examined ECC prevalence without reference to SDG8 goals were excluded. Results The initial search yielded 761 articles. After removing duplicates and ineligible manuscripts, 84 were screened. However, none of the identified studies provided data on the association between decent work, economic growth-related factors, and ECC. Conclusions This scoping review found no English publication on the associations between SDG8 and ECC despite the plausibility for this link. This data gap can hinder policymaking and resource allocation for oral health programs. Further research should explore the complex relationship between economic growth, decent work and ECC to provide additional evidence for better policy formulation and ECC control globally.

The larger context of our research is the impact of the Romanian transportation infrastructure development on the nation’s economy. In this paper we focus on presenting the inland waterways, canals and maritime transportation infrastructure, the volume of goods transported and some economic implications. The scope of the present study is to analyze data regarding the volume of goods transported on the inland waterways and maritime transportation infrastructure. The considered time-frame for this paper is from 1990 to 2019 and the data was collected from sources such as annual reports of Governmental Agencies, Eurostat and the National Institute of Statistics. We found that there is severe lack of reported data or even data inconsistency between authorities. As economic policy implications we mention the need for investments in maintenance, development, and modernization of infrastructure to stimulate the positive trend in volumes of goods transported.

The inquiry departs from the idea that heterogeneity is the rule, not the exception, regarding the National Innovation Systems (NIS) worldwide. The paper’s main goal is to advance understanding with empirical-based knowledge on how this uneven pattern occurs by formulating an original typology of NIS that surpasses the continental boundaries analysis and, primarily, highlights the strengths of few and weaknesses of most nations. Using the Global Innovation Index – GII, the paper employs descriptive analysis, bivariate correlation, and variance analysis, followed by clustering. The cluster analysis created five types of NIS that displayed an even more accurate description of how innovative countries are, beyond the income or continent cohorts. This original and comprehensive approach to the NIS disparities is crucial to advancing in how few countries continue to improve their innovative performance. At the same time, most countries keep struggling to increase innovation capacity to overcome their economic underdevelopment issues.

This paper explores the dynamic relationship between inflation and employment in different labor market sectors. The paper uses data from the Bureau of Labor Statistics and the Consumer Price Index and applies descriptive statistics, correlation analysis, and multiple regression analysis to examine the relationship between these two economic indicators. The paper finds that inflation and employment have a negative relationship in the short term but a positive relationship in the long term and that the relationship varies across different labor market sectors. The paper contributes to the literature on the relationship between inflation and employment by considering sectoral differences and temporal dynamics. The paper also provides policy implications for managing inflation and employment trade-offs.

IntroductionConcerning economic globalization, enterprises must work with the cooperative partner to obtain more profits and overall planning of the supply chain has become a new focus for enterprise development. This paper studies the joint emission reduction of the supply chain in green low-carbon economy development and achieve joint emission and economic cost reduction through the optimization of carbon emission and economic dispatch.MethodsThe paper firstly uses the multi-agent model to complete the fullcycle modeling of carbon emission and economic cost; Secondly, the simulated annealing-adaptive chaos-particle swarm optimization (SAACPSO) method is used to optimize various parameters in the model to achieve emission and cost reductionResultsThe results show that after the optimization, the economic cost is reduced by 0.07 and the carbon emission is also reduced by 0.16; Finally, the practical test of the model is conducted with the collected data from the local company. The results show that the multi-objective optimization model of a joint enterprise supply chain is significantly better than single optimization in terms of emission reduction.DiscussionIt provides new ideas for a green economy and technical support for the global planning of supply chain integration.

Critics decry cryptocurrency mining as a huge waste of energy, while proponents insist on claiming that it is a green industry. Is Bitcoin mining really worth the energy it consumes? The high power consumption of cryptocurrency mining has become the latest global flashpoint. In this paper, we define the Mining Domestic Production (MDP) as a method to account for the final outcome of the Bitcoin mining industry’s production activities in a certain period time, calculate the carbon emission per unit output value of the Bitcoin mining industry in China, and compare it with three other traditional industries. The results show that Bitcoin mining does not always have the highest when compared with others. The contribution of this paper is that we give a new perspective on thinking whether Bitcoin mining is more efficient to make more profit, in terms of the same amount of carbon emissions per unit compared to other industries. Moreover, it could even be argued that Bitcoin may present an opportunity for some developing countries to build out their electrical capacity and generate revenue.

In an era of rapid scientific and technological progress, the concept of sustainable development has become an important framework for addressing the multifaceted problems of resource scarcity, environmental degradation and social inequality. This article provides a comprehensive analysis of the evolution, principles and practical application of the concept of sustainable development, emphasising the interconnectedness of its three main dimensions: environmental, economic and social. The paper explores the integrity of the concept of sustainable development in different dimensions. The goal of the study is to provide a comprehensive analysis of the evolution, principles and practical application of the concept of sustainable development, emphasising the interconnectedness of environmental, social and economic aspects and their impact on sustainable development. The concept of sustainable development has evolved from early forestry practices to a broader encompassing of environmental, social and economic aspects. The concept gained prominence in the 20th century with the Club of Rome report and the Rio Earth Summit, leading to the widespread adoption of sustainable development as a guiding principle for global development. Central to sustainable development is the idea of meeting the needs of the present without compromising the ability of future generations to meet their own needs. The article identifies three traditional components of sustainable development: environmental, social and economic, and explores their interrelationship. Environmental sustainability focuses on the responsible use of natural resources and pollution management. Economic sustainability emphasises the importance of long-term economic stability and growth, while social sustainability addresses issues of equality, social justice, well-being and quality of life. The intersection of these pillars shows how integrated approaches can contribute to a resilient, equitable and livable environment. The publication highlights the role of sustainable development goals and standards in various areas. By harmonising environmental, economic and social goals, sustainable development offers a pathway to a resilient and prosperous global society. This holistic approach is essential to ensure the well-being of present and future generations in an increasingly interconnected world. The article emphasises the need for coordinated efforts at the local, national and global levels.

Purpose: This paper analyzes the European Bank for Reconstruction and Development's (EBRD) strategic financing roles in Kosovo from 2013 to 2020, focusing on economic impacts and developmental progress. Methodology: Employing a quantitative and comparative approach, this study utilizes secondary data analysis, supported by statistical tools in Microsoft Excel, to evaluate the effectiveness of EBRD investments in various sectors within Kosovo. Results: The findings reveal significant EBRD investments, primarily in SMEs and infrastructure, contributing to competitive gains and sustainable development. The study details the volume of investments and their distribution across different sectors, highlighting substantial impacts on employment and green energy initiatives. Theoretical Contribution: This research enriches the literature on international financial institutions' roles in post-conflict economic development, providing a nuanced understanding of the EBRD's strategic priorities and operational outcomes in transitional economies. Practical Implications: The study offers policymakers and development agencies insights into practical strategies for leveraging international finance for economic growth and sustainability. Recommendations are provided to enhance the focus on renewable energy and infrastructure, aligning with global sustainable development goals.

This paper aims to assess the development pattern of resource-rich countries like Norway, Kuwait, Saudi Arabia, and the Republic of South Africa by analyzing their stock markets. As resource-rich countries have profound implications for the world's sustainable development, it is essential to investigate whether they transform natural resource wealth into sustained growth by reorientation from related to raw material industries to modern ones based on information and technologies. The analysis of resource-rich countries' stock markets allowed us to conclude that partially these countries are on the way to an economy dominated by intangible assets. Nevertheless, despite the declared intentions, some traditional attachments to raw materials are still present. At the same time, most companies in the optimal portfolios of these markets have a long-term nonlinear strategy. The impact of the pandemic COVID-19 turned out to be significant, but short-lived. The research was carried out based on R and Python packages.

This study presents a micro-level indicator of farmers' positioning in the market chain, based on the conceptual framework outlined by Antràs and Chor (2013, 2018). The indicator considers the selling location of a farming household and its crop buyers. Using panel data from the World Bank's 'Living Standards Measurement Study: Integrated Surveys on Agriculture' for Ethiopia and Nigeria, this paper applies the proposed indicator empirically and showcases its superior performance in comparison to existing alternatives at the micro-level. Furthermore, by analyzing the dynamics of farmers' food and total consumption over time and controlling for various household and production characteristics, as well as potential confounding factors, this study shows that moving towards a downstream position in the market chain has a positive impact on farmers' food and total consumption levels. The results are validated through sensitivity analysis and robustness checks.