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The data presented here are manually encoded characteristics of research papers in the area of Energy-Economy Nexus (empirical investigation of Granger causality between energy consumption and economic growth) that describe the methods, samples, and other details related to the individual estimations done in the examined empirical papers. Data cover papers indexed by Scopus, published in economic journals, written in English, after year 2000. In addition, papers were manually filtered to only those that deal with Energy-Economy Nexus investigation and have at least 10 citations at (at the time of query – November 2015). This data are to be used to conduct meta-analysis – associated dataset was used in Hajko [1]. Early version of the dataset was used for multinomial logit estimation in Master thesis by Kociánová [2].

Purpose – This study aims to investigate the effects of mineral rents, conflict and population growth on countries' growth, with a specific interest in 13 selected economies in Sub-Saharan Africa. Design/methodology/approach – This paper uses a combination of research methods: the pooled ordinary least squares (OLS), the fixed effect and the system generalized method of moment (GMM). The consistent estimator (system GMM), which provides the paper's empirical findings, remedies the inherent endogeneity bias in the model formulation. The utilized panel dataset for the study spans from 1980 to 2022. Findings – The study suggests that mineral rents positively affect countries' growth by about 0.407 percentage points in the short run. The study further demonstrates the long-run negative impacts of population growth rates and prevalence of civil war on economic growth. The empirical work of the study reveals that an increase in the number of international borders within the group promotes mineral conflicts, which impedes economic growth. Evidence from the specification tests performed in the study confirmed the validity of the empirical results. Social implications – Mineral rents, if well managed and conditioned on good institutions, are a blessing to an economy, contrary to the assumptions that mineral resources are a curse. The utilization of mineral rents in Sub-Saharan Africa for economic growth depends on several factors, notably the level of mineral conflicts, population growth rates, institutional factors and the ability to contain civil war, among others. Originality/value – This study is the first attempt in the post-coronavirus disease 2019 (COVID-19) era to revisit the investigation of the impacts of mineral rents, conflict and population growth rates on the countries' growth while controlling for the potential implications of the qualities of institutions. One of the significant contributions of the study is the identification of high population growth rates as one of the primary drivers of mineral conflicts that impede economic growth in the states with enormous mineral deposits in Sub-Saharan Africa. The crucial inference drawn from the study is that mineral rents positively impact countries' growth, even with inherent institutional challenges, although the results could be better with good institutions.

This paper discusses the functional distribution of income, as a consequence of decoupling phenomenon between workers’ compensation and labor productivity. This issue has been observed since the mid-1970s in most developed economies, resulting in a trend of decreasing labor income in national income or GDP. Despite conventional economic theory predicting a proportional increase in workers’ income with increases in labor productivity, empirical results suggest that this relationship is not being realized. The study analyzes the distribution of labor income and capital income in relation to GDP in European countries, in order to gain insight into the conditions and trends of labor income and to evaluate the functional distribution of income at the level of an individual country. The paper provides a detailed analysis of labor share on the example of all countries in Europe and compares countries to determine the direction and degree of trend of the labor share. The results highlight the need for further research on this topic and provide insight into the factors contributing to the decoupling of productivity from workers’ compensation.

The impact of research and development (R&D) expenditure is crucial for understanding contemporary economic development strategies. This study investigates the relationship between R&D spending as a percentage of GDP and economic growth, focusing on the South Caucasus countries (Azerbaijan, Georgia, and Armenia) and Israel, which is notable for its substantial R&D expenditure (5.71% of GDP in 2020). The objective is to evaluate the impact of R&D expenditure on economic development through the application of rigorous empirical methods. By employing a quantitative approach, this study aims to offer a detailed analysis of the impact of R&D investment on economic growth across various countries. Ordinary least squares (OLS) regression analyzes the association between R&D expenditure and GDP levels. Granger causality tests are utilized to investigate the causal relationships. The results demonstrate a significant positive relationship between R&D expenditure and GDP across all studied countries. Furthermore, the analysis reveals that GDP growth stimulates increased R&D investments in Azerbaijan and Armenia, as evidenced by Granger causality tests. To sum up, this paper underscores the critical role of R&D spending in driving economic development and highlights the necessity for policy initiatives focused on strengthening R&D frameworks.

This paper analyzes the relationship between GDP and the stock market over the long term, intending to understand the implications for Index Fund investments. A quantitative research method, using US (United States) GDP as an independent variable, and the S&P 500 index as a dependent variable, is employed. A population of 29 years, from 1990 to 2019, of data on US GDP and the S&P 500 from official US sources was used. Linear regression analysis with SPSS calculating techniques is performed to determine whether there is a relationship between GDP growth and the stock market (S&P 500). The results show a significant positive relationship between GDP growth and S&P 500 performance. β coefficient of the regression analysis of 0.911 shows a strong correlation between the GDP and the S&P 500. Our findings are also scientifically validated by the sig (P value) coefficient of 0.0000000000012. In addition, an R Square of 0.830 shows that our model explains all the variability of the response data around the mean at a level of 83%. The positive results of GDP and the stock market relationship, indicate considerable implications for Index Funds investments. Therefore, adding academic value to the practical financial implication aspects.

The world is moving towards digital economy where almost everything being done today is digitally controlled because necessity is the mother of innovation. Everybody is striving to attain digital stability as a lot of revenue is generated in the digital world. Digital divide therefore becomes so disadvantageous to people left without access to computers and the internet. In this paper, researchers discuss the role of Kenyan innovation hubs in closing the gap between those who have access to the internet and computers and those who do not. The paper discuss the World Bank projection of the GDP emanating from the use of ICTs and the challenges facing innovation. Government support plays a key role in ensuring that the people secluded from ICTs are able to access these services especially those in rural areas. This research found that in Kenya, innovation hubs have helped the citizens staying in rural areas to gain access to internet and develop their ideas and innovations as well as undergo mentorship. Nonetheless, a lot of support is needed from the Kenyan government through the launching of more innovation hubs especially in rural areas that can help improve the online business, innovation and thus increase the GDP from ICTs.

Industrialization of the Chinese economy has made China a formidable force in the global economy. Similarly, Africa has witnessed increased Chinese activity as shown by rising figures in trade with China, Chinese foreign direct investments, Chinese aid and debt to Africa. Despite the rise in Chinese activities in Africa, there is doubt about the impact of such on growth of African economies. Chinese aid and debt are observed to bear hidden costs that outweigh the benefits. Whereas Chinese trade and investments are claimed to be resource seeking and not genuine. The World Bank also observed that Chinese finance is secretive and does not comply with the best practices of good governance. In this regard, this paper aims to assess the impact of Chinese activities in Southern Africa. The paper uses an explanatory research design. On determining the effect of Chinese activities, we adapt a Solow-growth model. A panel data set is assembled using individual countries’ time series data on the variables of interest. The study uses real GDP growth rate as the dependent variable. The explanatory variables in this paper are GDP per capita, trade with the rest of the world, rest of the world foreign direct investment, Chinese trade, Chinese debt, Chinese FDI, Chinese aid and population growth. Document analysis is the major data collection tool in this paper. Data on Chinese debt, investments, trade and aid is on documents of the Ministry of Commerce of China and John Hopkins University China Africa Research Initiative. Whereas, data on world trade, FDI inflows, population growth, real GDP growth and GDP per capita is on World Bank and IMF public data sets. We use Stata 15 for data analysis. The diagnostic tests showed that we have a problem of heteroscedasticity and auto-correlation. Whereas, the Hausman model choice test showed that the random effects model is the most efficient and consistent than the fixed effects model. We therefore adopt the Feasible Generalised Least Squares regression (FGLS); as this model is robust under autocorrelation and heteroscedasticity. The regression results show that GDP per capita and rest of the word FDI are the only statistically significant explanatory variables at 5% level of significance. All the other variables that is Chinese trade, Chinese debt, Chinese FDI, Chinese aid, population growth and trade with the rest of the world became statistically significant at 10% level. The study recommends that Southern African countries need to establish a thriving democracy and improve the quality of institutions as a way to attract long term investments from the rest of the world. On dealing with China, the paper observes that there is a possibility that all citizens can benefit from Chinese activities and as a region there is need to change the current systems that benefit the political elite and support corruption at the expense of sustainable and inclusive economic development.

AbstractThe climate significantly varies from eastern to western in China. The purpose of this paper is to analyze how climate affects regional economy in a variety of provinces of China. Regions are divided into three distinct regions based on geographic proximity. We choose 19 provinces, six in the east, five in the middle, and eight in the west. Utilizing data spanning between 1997 and 2019, and the ARDL approach, the result shows that the impact of climate on GDP varies across regions. Precipitation contributes to positive economic growth in the high-income provinces gathering in eastern China, for instance, Guangdong, Zhejiang, and Jiangsu. The impact of temperature mainly occurs in under-developed regions in western China. Overall, this paper analyzes how climate impacts differently in different region of China, suggesting policymakers to implement appropriate strategies in different provinces to limit the negative impacts of climate on economy and achieve sustainable economic development in the long run.

Abstract The purpose of this “perspective” type paper is to revisit and recapitulate an existing alternative approach to measuring economic and sustainable GDP (using the ISEW as a proxy) at both national and regional levels. Motivated by the recognized inadequacies of Gross Domestic Product (GDP) in capturing true economic welfare, this study highlights the need for comprehensive indicators that reflect genuine prosperity. While GDP has long served as the primary macroeconomic measure of development, it fails to account for genuine progress, prompting the exploration of alternative measures. In recent decades, sustainable development has become a focal point for global, national, and regional economies, highlighted by the United Nations' 17 Sustainable Development Goals. The inability of GDP to capture sustainable welfare has led to the proposal of various alternative indicators in the literature. This study revisits and recapitulates the Index of Sustainable Economic Welfare, first introduced by Daly and Cobb (For the common good: redirecting the economy toward community, the environment, and a sustainable future, Beacon Press, Boston, 1989), which adjusts GDP to better reflect sustainable development. The current “perspective” reviews the application of ISEW across different countries revealing significant insights into the limitations of GDP and the benefits of more holistic measures. Additionally, the study emphasizes the importance of capturing sustainable economic prosperity at the local level and advocates for the inclusion of cultural aspects as the fourth pillar of sustainable development.

More the capital more the industries can be lead to more employability. Hence, current paper aims to analyze the trend and pattern of FDI and its impact on the Indian economy using uses stepwise regression to select the appropriate variables with time series data over thirty years from 1992-2021 and found that there is a positive trend of FDI inflow into the country over the study period and the intersection between FDI and GDP is very high and the foreign exchange reserve is also very high, Moreover, foreign exchange reserves and interest rates have a significant relationship with FDI.

Environmental taxes ensure sustainable development, but their fiscal and environmental effectiveness differs for countries with different socio-economic characteristics. This study aims to compare the impact of environmental tax revenues on economy’s decarbonization (measured through carbon productivity – the ratio of GDP to carbon dioxide emissions) in different countries, considering their green technologies development and carbon emissions. The paper analyzed OECD and World Bank statistical data for 38 OECD countries for 2002–2021 using linear panel regression models with fixed and random effects (using Hausman test and STATA 18). To identify explicit and latent patterns of this influence, which are common to certain countries, this analysis did not consider each country separately but targeted clusters, distinguished by Ward and Sturges methods based on the effective tax rate on carbon emissions, total environmental tax revenues, total carbon emissions, and carbon productivity. The positive influence of environmental tax revenues on the economy’s decarbonization level has been confirmed for 29 countries (four from six clusters). The effect is the largest for the USA (an increase in tax revenues by 1% leads to an increase in carbon productivity by 0.9% on average) and the smallest – for the cluster including Austria, Belgium, Canada, Costa Rica, Czechia, Estonia, France, Germany, Hungary, Iceland, Korea, Lithuania, New Zealand, Poland, Portugal, Slovakia, Spain, and the Great Britain (increase – 0.1%). The negative impact was confirmed for nine countries (two from six clusters): Denmark, Finland, Israel, Latvia, and Sweden (decrease – 0.3%) and Greece, Italy, the Netherlands, and Slovenia (decrease – 0.21%).

The present study addresses a significant omission in the literature by examining the role of non-traditional financial organizations in poverty reduction. Previous research has primarily focused on the direct impact of commercial banks on poverty, neglecting the contribution of other types of financial institutions. This research posited that Islamic banks are anticipated to assume a pivotal function in mitigating poverty; nonetheless, more studies on the topic need to be conducted. This research used the Partial Least Squares Regression technique to investigate the impact of Islamic banks on poverty alleviation in several developing nations from 2013 to 2019. The empirical data demonstrates a direct correlation between the overall assets of Islamic banks and some evident characteristics. The heightened acquisition of holdings by Islamic banks indicates a decrease in poverty. Furthermore, a statistically significant correlation exists between the legal framework and poverty alleviation. It is crucial to acknowledge that the research is limited by the intrinsic limits imposed by the accessible information on Islamic banks and the specific temporal limitations of the study. Future academic research should aim to increase the sample size and cultural and social factors and expand the time frame to understand the intricate function of Islamic banks in reducing poverty entirely. This paper is helpful to many policymakers in developing countries, including Hail development plans in Saudi Arabia.

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.

Research output provides an insight into the development of the scientific capability of a country. Budget allocation for research and development (R&D) is directly proportional to the research output of a country. Bibliometric analysis of South American countries has not been done in many studies. The purpose of this paper was to analyse research outputs from South American countries on various metrics. An analysis was done for a period of 11 years from 2010 to 2020. The analysis revealed that Brazil with highest percentage of research spend has lowest Field Weighted Citation Impact (FWCI). This contrasts with Uruguay, whose FWCI is high despite comparatively lower spend on R&D and lower publication output. Although Argentina has the highest percentage of researchers per million population (1202), it has the least papers per researchers (0.3 per year) among the countries studied. A huge disparity in terms of percentage of research spent, research output, papers per researcher, and output with national and international co-authorship was observed.

The aim of this paper is to assess the association between macroeconomic factors and house prices in selected OECD countries. In this paper, authors describe selected socioeconomic factors, adapt a transparent methodology based on the OECD database and derive results shedding a light on the main drivers shaping the trends of the real estate prices. Two main economic aggregates, inflation and gross domestic product (GDP) were analysed for the OECD member and non-member countries for which complete data have been made available for the period of 1990-2020. The OECD provides data for 60 countries in total, out of which 38 are members of the organization. Nevertheless, due to missing observations in certain countries, the analysis was carried out in 19 of them. The aim of the study was to determine how GDP and inflation dynamics are correlated with changes in property prices. Among the analysed countries, Japan and South Africa could be distinguished as outliers in terms of inflation, whereas in the case of GDP, Italy, Japan, Ireland and Norway stood out. Additionally, 12 representative countries were described in detail. These countries comprised four groups of three countries divided across two dimensions: the first, based on the highest and the lowest correlation coefficient, and the second, based on the measure used to calculate the correlation coefficient (correlation of the house prices with GDP and correlation of the house price with inflation). On the basis of the analyses, it was shown that the association between GDP and house prices is stronger than that between inflation and house prices – in most cases, prices increased at a similar rate as GDP. A particularly high correlation between GDP and house prices was found for Norway, New Zealand and Sweden, indicating a potentially higher marginal housing consumption responsiveness to changes in housing wealth in these highly developed countries, characterised by particularly low housing transaction costs and efficient mortgage market. It was deduced that such characteristics lead to a higher wealth elasticity of demand for new houses.

This study aims to investigate the relationship between the volatility of the crude oil market and the macroeconomic conditions in Nigeria. The author used the methods of the auto-regressive distributed lag (ARDL) model in conjunction with the generalized autoregressive conditional heteroscedasticity (GARCH) to determine the extent of volatility using a monthly dataset from January 2012 to December 2022. The author regressed the crude oil price volatility index on Organization of the Petroleum Exporting Countries (OPEC) production quotas, conflicts, GDP growth rate, exchange rate and inflation. The results indicate that oil price volatility relates negatively to GDP, implying that the volatility of crude oil prices dampens growth in Nigeria. The paper concludes that rising oil prices heighten inflation, depreciate the exchange rate and depress growth in Nigeria. To hedge against oil price volatility, the paper recommends that the Nigerian government adopt policy measures that would increase energy efficiency and reduce the country's dependency on oil exports through diversification in other related productive sectors such as agriculture and manufacturing.

People have been moving from one area to another since ancient times in order to exchange products from one nation with those from another in order to obtain what was lacking in the nation where they resided. These were the first product-to-product trades, and the latter was placed into circulation on money as a product-to-product trade. These early types of commerce have evolved significantly, and they continue to do so now as capital flows from one country to another. This phenomenon, which has influenced worldwide economic growth and improved living standards, saw significant expansion in the twenty-first century in the form of loans used to fund economic development in many nations, as well as ownership of financial assets. In the present era, domestic capital is insufficient for countries to thrive and remain competitive in global markets. For emerging economies, foreign investments that enter the host country as debt or money are crucial financial resources. In this paper, we will discuss the data on the development of exports and FDI of 22 countries from around the world and analysed the evolution of FDI, GDP and exports over a period of 40 years to see trends and patterns of FDI and Exports and their contribution to the economic growth of countries. Broken up in groups, the paper will compare and assess certain countries/regions, grouping and pairing them with economies or countries of similar growth/stance. Corroborating this statistics with recent global events and based on the previous statistics, this paper will try to predict the future trends of FDI around the world.

The aim of the article is to study the current state of financial security of domestic households in the conditions of wartime. The study of the financial security of households during the wartime period is a relevant topic due to the increased financial difficulties under the influence of hostilities. This paper considers the issue of assessing the financial security of households in the context of wartime. Assessing financial security in conflict settings is crucial for effective financial management and maintaining the financial stability of households. Analyzing, systematizing and summarizing the scientific works of many scholars, the essence of the concept of «financial security of households» was considered, as well as a list of external and internal threats to the financial security of households in the current conditions of wartime along with economic and political instability was provided. The publication uses a variety of methods and tools to assess the financial condition of households. The analysis of such financial indicators as: real GDP, GDP per capita at PPP, HDI, average and minimum wages, the level of pensions, as well as the relationship between them, household income and expenditure, unemployment rate, is carried out. The impact of the ongoing war on the financial capabilities and stability of households is studied. The results obtained allow us to conclude that there is a need to improve financial planning and financial management at the household level during the wartime. This will help ensure financial stability and an appropriate response to the negative impact of the military conflict on the financial well-being of families, and most importantly, increase the level of financial security of domestic households. Prospects for further research in this direction are the study of foreign experience in ensuring the financial stability of households, where much attention is paid to personal finance planning as an effective method of ensuring financial security.

Employment is an important indicator characterizing the overall functioning of the country’s economy. The most commonly analyzed indicators in the study of employment are the employment rate and the unemployment rate. A high unemployment rate may indicate an insufficient number of workplaces in the economy or the presence of a significant proportion of the population unable to work. Depending on the cause of unemployment, appropriate measures should be taken to stimulate job growth or support social programs. It is important to understand what factors can influence employment. Therefore, this paper examines the relationship between employment and economic, social and demographic factors, including GDP, average wages and migration. Economic statistics methods are used to estimate employment.

The period of the Covid-19 pandemic is a special one, it is a period in which governments around the world have allocated large sums to social protection spending, when many parts of the economy have seen a reduction or even closure of activity. The present paper is structured as empirical research that analyses longitudinally and cross-sectionally social protection expenditure with the purpose of identifying those countries in the EU that have significantly increased this expenditure and to see whether in the last decade the growth rates are significant. So, we found that at EU-27 level, the social protection spending has expanded and intensified during the pandemic and that the governments have adopted measures to support vulnerable groups.

COVID-19 is an ongoing global outbreak of coronavirus disease 2019, an infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The World Health Organization (WHO) declared the outbreak a Public Health Emergency of International Concern on January 30, 2020; and a pandemic on March 11, 2020. Several mitigation measures have been used in attempts to limit the spread of the virus, including mandatory wearing of masks in public; bans on unnecessary travel; and the closure of non-essential businesses. This paper defines a lockdown as the closure of non-essential businesses combined with requirements that all citizens stay at home except for grocery shopping, trips to a pharmacy, and medical appointments. The effectiveness of lockdowns is controversial. Proponents tend to argue that lockdowns would have been more effective if enforcement had been increased and if lockdowns had been extended for a longer period of time. Opponents have argued that lockdowns hurt the economy, hurt children, and have had little positive effect on public health. The paper addresses the economic effect of COVID-19 lockdowns in the United States using a Benefit/Cost Analysis (BCA) framework. Two separate analyses are provided: a traditional BCA analysis, which assumes that the value of life is constant regardless of age; and a Preferred Analysis, which adjusts the number of deaths, and values the economic cost of the deaths based on the age of the deceased.

The paper analyzes the effects of introducing a corporate carbon tax on GDP and the effectiveness of this macroeconomic policy. The study is based on constructing a simple Keynesian model with flexible prices. It shows that the carbon tax can have a double beneficial effect on the economy in addition to its favorable effect on the environment: i.e., an increase in GDP and employment. The initial values (y = 100; C = 60; I = 18; G = 16; g(A) = 6) was used to simulate a positive shock of the carbon tax T, increasing from 1.75 to 1.9. The paper considers three different cases depending on the low (Case 1), medium (Case 2), or high (Case 3) sensitivity of the marginal propensity to consume in response to an increase in the prices of goods. In addition, case 4 is considered: stimulus policy associated with climate policy; and case 5 is: policy to increase nominal wages. The results show that the carbon tax can lead to an increase in prices. Although the tax does not excessively negatively affect consumption, it has a positive effect on GDP via the increase in green investments and the induced increase in public spending. Households are, therefore, not necessarily penalized because they benefit from the multiplier effects of the increase in public spending due to the introduction of the ecological tax. Furthermore, stimulus policy is even more effective when combined with an emissions tax.

The digital economy, driven by Information and Communication Technology (ICT), has emerged as a significant contributor to economies worldwide. However, accurately defining and measuring its impact on national economies remains a complex endeavor. This paper explores the definition, measurement, role, and impacts of the digital economy across various economies. It also examines the involvement of governments and telecommunication regulators in assessing the digital economy and identifies future directions for developing countries. A systematic literature review utilizing the PRISMA Model is employed to investigate the factors and indices used to measure the digital economy. The findings highlight ongoing efforts to harmonize the definition and metrics; nonetheless, challenges persist due to the scarcity of appropriate datasets and variations in country-specific definitions. Additionally, the effectiveness of existing digital economy indices and toolkits in assessing the level of digitalization in developing countries is evaluated. The paper concludes that despite ongoing efforts to bridge the gaps, the concept of the digital economy remains defined and measured differently, necessitating a new definition that accounts for various contextual peculiarities. Furthermore, a roadmap is proposed to develop a toolkit that ensures comprehensive measurement, thus preventing an underestimation of the digital economy's contribution to the Gross Domestic Product (GDP) in developing countries. The paper underscores the need for international and multi-stakeholder dialogue to establish a common understanding of the digital economy's definition and measurement. Developing countries, such as Nigeria, are urged to develop or adopt new metrics tailored to their unique circumstances, facilitating an accurate and efficient quantification of the digital economy's impact on crucial indicators like GDP. Improved statistical data collection and recording methodologies are recommended for both governments and the private sector. Moreover, the paper advocates for the establishment of a Digital Economy Advisory Board (DEAB) in developing countries to maximize the benefits of the ongoing global transition to the digital economy.

ObjectiveAlthough the regular exercise population is a key metric for gaging the success of China’s fitness-for-all activities, effective policy approaches to increase mass sports participation remain unclear. Previous research suggests that GDP, educational attainment, sports resources, and meteorological conditions could influence regular exercise participation. Therefore, this study first analyzed the macro-level correlates influencing China’s regular exercise population.MethodsWe utilize ordinary least squares (OLS) regression and geographical weighted regression (GWR) to theorize the relationship. The analysis encompasses data from the 31 administrative regions of Mainland China, as reported at the end of the 13th Five-Year Plan period. The log–log model enables us to quantify the marginal effect (elasticity) of the explanatory variables.ResultsThe OLS regression showed that regional GDP and the proportion of the population with a university education were significant predictors. In the global model, the marginal effects of regional GDP and university education were 0.048 and 0.173, respectively. Furthermore, the GWR revealed a distinct geographic pattern that corresponds to the classic Hu Line.ConclusionWhile regional GDP was also a significant correlate in our model, the elasticity demonstrates that university education had an asymmetric effect on China’s regular exercise population. Therefore, this paper sheds light on a policy priority for the upcoming 15th Five-Year Plan, emphasizing the strategic importance of expanding university education to enhance mass sports participation. In turn, a better-educated populace may yield significant secondary effects on public health and contribute to the high-quality development of the Chinese path to modernization.

This paper examined the factors that influenced the Gross Domestic Product growth (GDP) in the post-Covid-19 period in Kosovo. This paper explored the impact of consumption, remittances, exports, imports, and inflation on Kosovo's GDP growth using fixed effects regression analysis with data from various secondary sources to analyze their impact from Kosovo's perspective. The results demonstrated that consumption, remittances, and exports had a statistically significant influence on GDP growth during the post-pandemic economic lockdown stage, whereby imports and inflation had a little inverse relation. Further, the Hausman test statistics on the adequacy of the fixed-effect model selection represent a superior performance compared to the random effect model. The paper is the first that extensively explores the impact of these factors that drove GDP growth in the post-pandemic period in Kosovo's economy. The novelty of this paper is that it recognizes the response of governments to the pandemic and accurately identifies the macroeconomic factors that influenced GDP growth.

The COVID-19 pandemic has largely undermined most economies in the world. To a significant extent the reasons behind this economic nosedive are rooted in the sphere of labour market. The imposed restriction measures made many workers stay at home, and part of them even lost their jobs. The speed of economic recovery in different countries varied depending on how quarantine restrictions were eased. One crucial factor in this process is labour market flexibility and its ability to adapt to changing economic conditions. The purpose of the paper is to explore the relationship between the labour market flexibility and the speed of GDP recovery when the pandemic was waning and the quarantine restrictions were being removed. Methodologically, the study relies on labour economics. The methods are multivariate and logistic regression analysis. The data for the study is sourced from the World Bank and Eurostat and comprises statistics for assessing labour market flexibility and GDP in various countries for 2020–2021. The findings indicate a reverse relationship between the speed of GDP growth recovery during the post-COVID period and the share of part-time employment. Yet taking into account that part-time employment is not only an indicator of the labour market flexibility, but also reflects a general slowdown in production and unemployment, we can attach low speed of recovery to a greater weakness of an economy. The obtained results are insufficient to reject the hypothesis that a more flexible labour market accelerates the recovery of a national economy. At the same time, the study demonstrates that the West European countries generally got over the consequences of the COVID-19 crisis faster than other EU countries. The research contributes to understanding the transformation processes in the labour market under the pandemic as well as provides support for labour market policy development and implementation.

This paper is aimed at determining the connection between the provision of companies' financial information on the indicator of quality and the macroeconomic development of countries. In this research, we use the following methods: the method of categorization, the method of comparative analysis, statistical analysis and the forecast method. The scientific novelty of this research is due to the development of the theoretical and practical characteristics of informing consumers on the activities of companies in the sphere of managing the system of the indicators of quality and determination of the dependence of the macroeconomic characteristics of countries on the implementation of the measures of accounting and provision of information on the indicators of quality. We analyse the main advantages and drawbacks of quality management in the selected developed and developing countries, which have a significant impact on the world economy. The developed offers in the sphere of accounting information on the indicators of quality are formulated from the position of growth and sustainable macroeconomic development.

The importance of trade openness and human capital for the economic growth of countries is the subject of many studies today. The role of innovations and the innovativeness of economies in modern economic development is extremely important. With greater accumulation of human capital, knowledge, skills and innovation are accumulated. All these variables are crucial for achieving higher economic growth. Special attention in the studies of relevant authors is directed towards researching this relationship on the example of small open economies, as well as developing countries. The purpose of this paper is to examine the relationship between trade openness and human capital as explanatory variables and GDP as a dependent variable in a sample of eight Balkan countries. The goal of the research is to quantify the relationship between two independent variables and GDP as a dependent variable. The period in which we observe this relationship covers the period from 2000 to 2019. Achieving the research objective is done on the basis of a panel model with fixed and random effects. The results of the panel research testify to the existence of a positive relationship between trade openness and human capital as independent variables and GDP as a dependent variable. Calculated coefficients with independent variables were obtained with a high level of statistical significance. The conclusion of the research implies that there is a positive impact of trade openness and human capital on GDP.

There is no doubt that women play a vital role in all aspects of economic activities around the globe. However, despite the great efforts that governments have made over the past three decades to increase women’s integration into the labor market, their participation is still relatively low compared to men. On the other hand, economic literature argues that the government can use fiscal policy tools such as tax revenue and spending to decrease gender inequality in the labor market. The aim of this paper is to investigate the impact of government spending and tax revenue shocks on the female labor force participation rate (the share of women in the total labor force) in Egypt. Annual time-series data were collected from the Central Bank of Egypt and the World Bank from 1990 to 2021, where the vector autoregressive (VAR) model and impulse response functions have been used. The results suggest that government spending and tax revenue shocks increase gross domestic product (GDP) growth rate, female labor force participation, and inflation. Results validated the research hypotheses and showed that a one standard deviation shock to either government spending or tax revenue has a positive impact on female labor force participation. Therefore, the study recommends that using an expansionary fiscal policy may increase the accessibility of Egyptian women to the labor market.

With the continuous development of society, various industries are rising and developing rapidly. Against this background, the energy crisis has come quietly. Therefore, to improve the quality of life of residents and promote the comprehensive and sustainable development of society, it is essential to enhance the development of the sports industry and formulate public health strategies under the background of a low carbon economy (LCE). Based on this, to promote the low-carbon development of the sports industry and optimize the formulation of social public health strategies, firstly, this paper introduces the low-carbon economic structure and its role in society. Then, it discusses the development of the sports industry and the necessity of perfecting public health strategy. Finally, based on LCE’s development background, the sports industry’s development situation in the whole society and M enterprises is analyzed, and suggestions are put forward to improve the public health strategy. The research results show that the current development prospect of the sports industry is extensive, and the added value of the sports industry will be 1,124.81 billion yuan in 2020, up by 11.6% year-on-year, accounting for 1.14% of Gross Domestic Product (GDP). Although industrial development declined in 2021, the added value of the sports industry accounts for an increasing proportion of GDP yearly, which shows that the sports industry is playing an increasingly important role in economic growth. And through the analysis of the development of M enterprise sports industry as a whole and in different directions, this paper shows that enterprises should reasonably control the development of various industries to provide impetus for the overall development of enterprises. The innovation of this paper lies in the innovative use of the sports industry as the primary research object, and its development under LCE is studied. This paper not only supports the sustainable development of sports industry in the future, but also contributes to improving public health strategy.

Purpose – This paper aimed examining the contribution of female labour force participation rate on economic growth in the sub-Saharan Africa during the period of 1991–2019. Design/methodology/approach – The study employed a sample of 42 sub-Sahara African countries using annual data from the World Bank development indicators. The long-run causal effect of female labour force and economic growth was analysed using the Autoregressive Distributed Lag model and Granger causality test for causality and direction since the variables did not have the same order of integration. Findings – The estimated results indicate that a long-run causal relationship exists between female labour force and economic growth in sub-Sahara Africa and the direction of causality is unidirectional running from economic growth to female labour force. The results also showed that female labour force participation rate negatively and significantly contributes to economic growth (GDP) is sub-Saharan Africa in the long run with an insignificantly negative contribution in the short run hence a liability. Research limitations/implications – The author recommends the promotion of women's economic empowerment to encourage female labour force participation to increase economic growth in the entire sub-Saharan region. Practical implications – This paper adds to existing literature by using more comprehensive and up to econometric analysis and variables. This paper also makes further recommendation on how female labour force participation can boost economic growth in sub-Saharan Africa (SSA). Originality/value – This paper adds to existing literature by using more comprehensive and up to econometric analysis and variables. This paper also makes further recommendation on how female labour force participation can boost economic growth in SSA.

On the 31st of December 2021, the euro celebrated its two decades in circulation. Initially, twelve countries adopted the euro as their new national currency, Greece being one of them. Starting in 2020, euro is the official currency of nineteen European Union countries. This paper aims to examine three issues. Firstly, the paper investigates Greek people’s perception about the euro, using data from the recent issue of the Eurobarometer (December 2021). Secondly, the economic performance of Greece is briefly examined by comparing the Greek Gross Domestic Product (GDP) two decades before and two decades after the introduction of euro. Finally, the Greek participation to the eurozone has been a controversial, political issue. The political developments in Greece during the first two decades of the euro are also studied, emphasizing the dramatic political events after the double elections of 2012. The period of the two decades ends with the detrimental impact of COVID-19. This issue is also mentioned by reviewing some recent publications.

Due to the specifics of the political and economic system in Bosnia and Herzegovina (BiH), in the recent history of the country it has not been possible to approach the problem and challenges of economic security comprehensively and seriously. The given circumstances reinforce the need for research and analysis of economic security in BiH in order to show the real situation. This paper analyses economic security as a part of national security, with the help of relevant indicators, and then the connection of economic security with the economic development of BiH. Methods of analysis, synthesis, compilation, correlation and linear regression were applied for research purposes. The aim of the research is an empirical analysis of economic security indicators in terms of determining the degree of interconnection of key variables of economic security (public debt, availability of financial resources, technological progress, investment in fixed assets, unemployment, military investment, foreign exchange reserves, budget deficit, GDP growth rate, etc.) for the period from 2008 to 2018. The results of the research clearly reveal that economic and national security are mutually interrelated, and that economic security is a precondition for national security, which confirms the main hypothesis of this paper.

The purpose of writing the paper is the situation in agriculture in Serbia and the municipality of Kladovo, as well as the importance it achieves in the economic structure. At the level of Serbia, the importance of agriculture, forestry and fisheries (AFF) is analyzed through their contribution to gross domestic product (GDP) creation from 2016 to 2020, while for the municipality level the importance is determined by the amount of funds allocated in the local self-government unit (LSU) for the needs of agriculture from 2018 to 2020. The obtained results indicate a high share of AFF in GDP creation (6.3% during 2020) and a low share of budget funds in the total budget of the municipality for support of rural development (2.34% in 2020). The aim of this paper is to analyze the possibilities for further development of agriculture in the Republic and the Municipality. The paper uses methods of critical analysis of relevant literature, as well as descriptions for interpreting the results obtained by empirical research.

The rapid growth of financial deepening raises the problem of its effect, beneficial for economic development. This paper aims to demonstrate the relationship between economic growth (GDP per capita growth, GNI per capita) and financial depth (domestic credit to private sector and credit availability) in 142 countries, split into four income groups, over 2000–2020, using correlation analysis and data from the World Bank and the IMF. Besides, a comparative analysis of domestic credit to the private sector, economic freedom, Gini index, total government expenditure and national savings of countries that increased their income group status over 2011–2020 is presented. Financial deepening (increased credit availability and expansion of domestic credit to the private sector) encourages economic growth (via GNI per capita and GDP per capita growth). Although the presence of a nonlinear relationship between economic growth (GDP per capita growth) and financial depth (domestic credit to private sector and credit availability) over 1991–2020 is insufficient, there is a linear relationship between GNI per capita and credit availability, between credit availability and domestic credit to the private sector for the same sample of countries over 2000–2020. Meanwhile, there is a tendency towards a decrease in the correlation between GNI per capita and GDP per capita growth. Given the revealed linear correlation between domestic credit to the private sector and GNI per capita, financial deepening positively impacts income growth, and this dependence strengthens with increasing income levels. Target values of domestic credit to the private sector are proposed for the income group transition. AcknowledgmentThe paper was funded as a part of the “Relationship between financial depth and economic growth in Ukraine” research project (No. 0121U110766), conducted at the State Institution “Institute for Economics and Forecasting of the NAS of Ukraine”.

Banking stability is essential to any economy due to its many functions, including intermediation, payment facilitation, and credit creation. Thus, the stability of the banking industry is one of the critical ingredients in economic growth. This paper analyzes how bank capital requirements, credit, and liquidity impact bank solvency using ten major banks that control 90% of the market share in the UK in 2009–2018. The GMM model indicates a strong association between credit and liquidity risks. That is, when banks finance a risky or distressed project, this will lead to an increase in non-performing loans (NPL), which reduces bank liquidity. Poor liquidity profile of the bank may restrict it from providing financial intermediation role. In addition, the findings indicate that efficiency, asset quality, and economic growth have a significant positive effect on the solvency of banks. The results also show that the regulatory capital (tier1) has a positive significant influence on solvency of the banks. Further, the results indicate that during the economic boom, banks tend to increase their regulatory capital. Therefore, there is a need to ensure that during the “good time”, banks can accumulate enough capital that is genuinely capable of absorbing negative shock. Also, it is important for banks to ensure that they are efficient but also have robust credit appraisal system to reduce NPL. This paper also demonstrates the implication of increased capital requirements. That is, increased capital requirements ensure not only banks are liquid but also solvent which enables them to provide financial intermediation.

Exploring the relationship between economic growth, energy consumption and CO2 emissions is an increasingly important research issue. The paper examines the association between gross​ domestic product per capita, CO2 emissions and energy consumption from renewable sources for the 27 countries of the European Union and the Western Balkans for the period 2008–2018. The panel vector autoregressive approach (PVAR) was used in the analysis, and the panel VAR model with three variables was evaluated based on the generalized method of moments (GMM). The main findings of the paper are that there is a relationship between the investigated variables: (1) two-way relationship between gross domestic product and CO2 emissions, (2) two-way negative relationships between CO2 emissions and energy consumption from renewable sources, (3) no causality has been established between gross domestic product and energy consumption from renewable sources (4) the sign of the relationship in the direction from gross domestic product to CO2 emissions is negative, while in the opposite direction is positive. The results indicate that most of the variations in CO2 emissions are determined by variations in GDP, so reducing CO2 emissions in the long run can be achieved by continuously increasing GDP. Increasing consumption from renewable sources will lead to a direct drop in CO2 emissions which will have desirable environmental effects. Findings obtained in this research can be important for decision makers in managing energy policy, environmental policy and economic growth and development.

The relevance of this study is warranted by changes in the modern understanding of the interrelation between economic growth and financial depth. While earlier studies consider it to be universally positive, newer ones tend to challenge both nature and direction of such a relationship. This paper aims to investigate the nature of the financial depth-economic growth nexus in Ukraine during 2008–2019 based on data provided by the State Statistics Committee of Ukraine and the National Bank of Ukraine, using the standard OLS regression. The resulting model with an adjusted R squared of 0,96 confirms a strong (within a 90% confidence interval) linear relationship between real GDP per capita, denominated in local currency, which was used as a proxy for economic growth, and financial depth, which was assessed using three indicators: the share of bank loans to non-financial institutions in real GDP, the share of non-bank loans to non-financial institutions in real GDP, and the share of stock market capitalization in real GDP. Both bank and non-bank loans to real GDP ratios have a negative impact on economic growth (UAH 2,154 and UAH 78,154 decline per 1% growth, respectively), while market capitalization provides a positive influence (UAH 1,641,130 growth per 1% growth). This implies that, despite concentrating the majority of the resources available to the Ukrainian financial sector, the banking sector does not contribute to its economic growth. This can be alleviated by imposing additional restrictions on the amount of government securities allowed in a bank’s capital structure. AcknowledgmentsThe paper was funded as a part of the “Relationship between financial depth and economic growth in Ukraine” research project (No. 0121U110766), conducted at the State Institution “Institute for Economics and Forecasting of the NAS of Ukraine”.

IntroductionEconomic loss estimation is critical for policymakers to craft policies that balance economic and health concerns during pandemic emergencies. However, this task is time-consuming and resource-intensive, posing challenges during emergencies.MethodTo address this, we proposed using electricity consumption (EC) and nighttime lights (NTL) datasets to estimate the total, commercial, and industrial economic losses from COVID-19 lockdowns in the Philippines. Regression models were employed to establish the relationship of GDP with EC and NTL. Then, models using basic statistics and weather data were developed to estimate the counterfactual EC and NTL, from which counterfactual GDP was derived. The difference between the actual and the counterfactual GDP from 2020 to 2021 yielded economic loss.ResultsThis paper highlights three findings. First, the regression model results established that models based on EC (adj-R2 ≥ 0.978) were better at explaining GDP than models using NTL (adj-R2 ≥ 0.663); however, combining both EC and NTL improved the prediction (adj-R2 ≥ 0.979). Second, counterfactual EC and NTL could be estimated using models based on statistics and weather data explaining more than 81% of the pre-pandemic values. Last, the estimated total loss amounted to 2.9 trillion PhP in 2020 and 3.2 trillion PhP in 2021. More than two-thirds of the losses were in the commercial sector as it responded to both policies and the COVID-19 case surge. In contrast, the industrial sector was affected primarily by the lockdown implementation.DiscussionThis method allowed monitoring of economic losses resulting from long-term and large-scale hazards such as the COVID-19 pandemic. These findings can serve as empirical evidence for advocating targeted strategies that balance public health and the economy during pandemic scenarios.

In today’s financial world, the pursuit of sustainable development has evolved from an ethical imperative to a strategic necessity. It has spurred corporations to enhance transparency regarding their non-financial and responsible or ESG practices. This paper aims to formalize the strategic dependencies between sustainability disclosure, SDG achievement, and the financial and information efficiency of the financial market. The research methods are normality tests, canonical correlation analysis, and multivariate multiple and univariate regression analysis. The object of the study is 137 countries. The time period is 2022. The results confirmed that a positive strong correlation was found between sustainability disclosure and the achievement of the SDGs on the one hand and financial and information efficiency of the financial market on the other. Identifying the direction of the relationship also confirmed two-way positive dependencies between the indicators, in particular, the SDG Index will have the most significant impact on the growth of GDP per capita, the change in the Economic Sustainability Competitiveness Index on the growth of the United Nations Global Compact participants. The specified connection can be used as the basis for the formation of the concept of ensuring transparency and leveling information asymmetry in the activities of enterprises.

The globalization process and the war in Ukraine show us that migration is one of the strongest global trends in the modern economy. For this paper, we determined three types of migration, depending on the intention of the people involved, these being labor, educational, and refugee migration. Each type has a different influence on the macroeconomic process. However, in this paper, we investigate the influence of general migration on GDP. We analyze five factors that have major influences on GDP, namely, migration (I), interest rate (IR), active population (AP), export (E), and the consumer price index (CPI). For the purposes of this paper, vector autoregressive models (VAR models) were chosen to perform the analysis. We used the Granger causality test to investigate the lag structure and identified the exogenous variables in the VAR model, such as GDP, migration, and the active population. We investigated the cross-influence between these factors and found that migration has a negative effect on the active population and a positive effect on GDP, while GDP growth leads to a decrease in migration. The Akaike and Schwartz criteria showed the high quality of the VAR models. The impulse analysis of shock influences identifies the structure of the reaction seen in GDP and migration, depending on their shock factors. Using decomposition analysis, we found that migration and GDP influence each other by 10–14%, which can improve the forecasting of these factors and the study of structural migration by the use of these three types.

The travel and tourism industry plays a crucial role in economies around the world. The impact of the COVID-19 pandemic on the tourism industry has been very pronounced. This paper aims to study the relationship between the country’s T&T industry Share of Employment (TTEMPL) and the country’s T&T industry Share of Gross Domestic Product (TTGDP). This study is specific because we do not focus on the development of indicators over time; instead, we propose the models for 117 countries using the quantile regression (QR) while comparing models in the context of COVID-19 (between 2019 and 2021). The results of the QR determined that individual percentiles of the TTGDP are more affected by the TTEMPL than other percentiles of the TTGDP, which is then reflected in the changes in regression coefficients. In addition, we compare analyzed indicators among countries according to region and income group. The study reveals that the tourism downturn caused by COVID-19 has adverse effects on the TTEMPL and the TTGDP. In addition, the results show that the impact of COVID-19 on the tourism industry appears to be varied among countries, regions, and income groups.

This paper follows the already existing literature to address three main pressing concerns that Romania is currently facing with respect to sustainable development and economic growth, which has likely been impeded as a direct consequence of the ongoing sanitary crisis. The research questions of this paper were asked with the consideration of finding possible solutions to the current developments. These questions were “How will the global health crisis project on Romania’s GDP growth in 2021 and going forward?”, “To what extent can Romania face its current challenges with respect to the budgetary pressures?”. The research itself was conducted using the R programming language with quantitative data, namely quarterly GDP starting from 2005 Q1 onwards and its main objective is to simulate Romania’s GDP to answer the aforementioned questions. Therefore, this research is empirical in the sense that it derives the simulated data from real data which was taken from Eurostat. The main findings of this research were that Romania’s GDP could grow by a mean 3.2% in 2021, which is more conservative than the existing institutional forecasts made by the European Commission, the International Monetary Fund, World Bank and the Romanian National Commission for Strategy and Forecasting, implying that the majority of the simulated outcomes have been in that respective range of values. Moreover, this research also finds that consumption is expected to increase by approximately 4.2% and that the budget deficit relative to GDP could go as low as to negative 7.8%. This paper creates value for future policymaking as it proposes solutions which could help Romania going forward. Thus, this paper creates value for not only the policymakers but the society as a whole.

Purpose – One of the main theories regarding the relationship between government expenditure and gross domestic product (GDP) is Wagner’s law. This law was developed in the late-19th century by Adolph Wagner (1835–1917), a prominent German economist, and depicts that an increase in government expenditure is a feature often associated with progressive states. This paper aims to examine the validity of Wagner’s law in Egypt for 1960–2018. The relationship between real government expenditure and real GDP is tested using three versions of Wagner’s law. Design/methodology/approach – To test the validity of Wagner in Egypt, law time-series analysis is used. The methodology used in this paper is: unit-root tests for stationarity, Johansen cointegration approach, error-correction model and Granger causality. Findings – The results provide strong evidence of long-term relationship between GDP and government expenditure. Moreover, the causal relationship is found to be bi-directional. Hence, this study provides support for Wagner’s law in the examined context. Research limitations/implications – It should be noted, however, that there are some limitations to this study. For instance, in this paper, the government’s size was measured through government consumption expenditure rather than government expenditure due to data availability, which does not fully capture the government size. Moreover, the data available was limited and does not fully cover the earliest stages of industrialization and urbanization for Egypt. Furthermore, although time-series analysis provides a more contextualized results and conclusions, the obtained conclusions suffer from their limited generalizability. Originality/value – This paper aims to specifically make a contribution to the empirical literature for Wagner’s law, by testing the Egyptian data using time-series econometric techniques for the longest time period examined so far, which is 1960–2018.

This paper examined the factors that influenced the Gross Domestic Product growth (GDP) in the post-Covid-19 period in Kosovo. This paper explored the impact of consumption, remittances, exports, imports, and inflation on Kosovo's GDP growth using fixed effects regression analysis with data from various secondary sources to analyze their impact from Kosovo's perspective. The results demonstrated that consumption, remittances, and exports had a statistically significant influence on GDP growth during the post-pandemic economic lockdown stage, whereby imports and inflation had a little inverse relation. Further, the Hausman test statistics on the adequacy of the fixed-effect model selection represent a superior performance compared to the random effect model. The paper is the first that extensively explores the impact of these factors that drove GDP growth in the post-pandemic period in Kosovo's economy. The novelty of this paper is that it recognizes the response of governments to the pandemic and accurately identifies the macroeconomic factors that influenced GDP growth.

Public spending as an important component of the composition of GDP has an impact on economic growth and development. The main purpose of this paper is to analyze the effects of disaggregated public expenditures, to measure the impact of current expenditures, transfers and subsidies, and capital expenditures as part of total government expenditures on economic growth and development of the Republic of Kosovo. To achieve the main goal of the paper was used the multiple linear regression model (OLS) and Pearson. The regression model has been modified and adapted to measure the regression of public spending on economic growth in Kosovo. The data used in the paper are secondary and collected from the Ministry of Finance of Kosovo, Agency of Statistics, and the Tax Administration of Kosovo. Data processing was done with SPSS. The results of the analysis show that the trend of Kosovo public spending for the analyzed period is increasing. According to Pearson correlation analysis, the results show that current public spending; transfers, and subsidies have a strong positive correlation to Gross Domestic Product. Whereas capital (investment) expenditures have a weaker positive correlation with GDP. The results of OLS regression, in our case, did not show the significance of independent variables, which means that the pubic expenses do not have an impact on economic growth in Kosovo.

This paper analyzes the effect of Bank of Japan’s implementation of negative interest rate policy on various macroeconomic indicators – the Nikkei Stock, unemployment rate, foreign exchange rate, gross domestic product (GDP), and inflation rate – in a pre-and-post analysis. The implementation of negative interest rates was in response to conventional monetary policy having little to no effect after the financial crisis of 2008. The Bank of Japan was not the first central bank to implement negative interest rates; however, it is only one of six central banks to do so. For this reason, literature in unconventional monetary policy, specifically negative interest rates, is limited. In this paper, we find evidence that movements in the Nikkei 225 Stock, the exchange rate, unemployment, and GDP coincide with movements expected under conventional monetary policy. We also find evidence of statistically significant impact on GDP and unemployment. However, we could not find evidence it had an effect on the inflation rate. Overall, this paper finds that the unconventional monetary policy of negative interest rates followed similar movements as that of conventional monetary policy.

Government expenditures allocated for defence are one of the categories comparable between countries to observe and analyse long-term trends. The paper compares the defence budgets of the USA and the Russian Federation between 2000 to 2019 with the aim to analyse potential causes of fluctuations in defence spending. The purpose of the paper is to demonstrate that military budgets are dependent on a combination of various factors such as current domestic policy, the economic cycle and global security and economic issues. The work uses significant as historical milestones to analyses their impacts on the dependent variable of military budget. As these, Operation Enduring Freedom (2001), Iraq war (2003), the inauguration of the US Presidents Barack Obama and Donald Trump, the economic crisis (2007-2008), the Russian currency crisis (2014) and the Russian annexation of Crimea (2014) were identified.

Objective: Banking industry is one of the most important sections all over the world. It plays a decisive role in development and economic growth of all countries. A glimse into this industry reveals that bank deposits are the most significant resources of financing for banks. In other words, since a considerable amount of banks capital is provided through deposits, banks will fail to exist without them. Moreover, exchange rate is one of the key factors which has a noticeable impact on different economic sections among which is bank industry. It is one of the undeniable variables which is given particular attention in economic policymaking. Accordingly, the purpose of this paper is to investigate the effect of exchange rate fluctuations on bank deposits volume in Iran. Methods: There is two steps to this paper. Firstly, exchange rate fluctuations are calculated using the approch of ARCH/GARCH conditional variance. Then, using ARDL method, long-run and short-run corrolations during 1986-2017is investigated. Results: The results of the paper indicate that: 1) there is a negative relationship between exchange rate fluctuations and bank deposits volume in Iran. In other words, if exchange rates swings increase, people will deposit less money in banks. 2) economic growth of Iran has a significantly positive relationship with the amount of exchange rate. Conclusion: There is a negative relationship between exchange rate fluctuations and the volume of bank deposits, ie with the decrease of exchange rate fluctuations, the amount of bank deposits increases, so it is necessary to adopt appropriate exchange rate policies to reduce exchange rate fluctuations and its negative effects on bank deposits.

Purpose – Inequality is increasing in Asia and the Pacific. This paper examines how inequality is affecting governments, communities and people in the Asia-Pacific region, given the 2030 Agenda's Sustainable Development Goals and the agenda's commitment to “leave no one behind.” Income inequality is just one element of larger economic and social inequalities in both developed and developing countries. Over the past decade, Bangladesh's economy has experienced one of the fastest growth rates in the world, supported by a narrowing demographic gap. The study focuses largely on the challenges of inequality and wealth distribution and uses the Singaporean experience to reduce inequality. Design/methodology/approach – The study is based on the review of secondary literature and an insightful analysis of the review. Findings – The Singapore Government has adopted four special budgets coronavirus disease 2019 (COVID-19) to help businesses cope with the economic difficulties caused by the epidemic, protect lives and create an economically and socially resilient Singapore. To sustain this increase in real gross domestic product (GDP) per capita, the Singapore Government continues to pursue growth-oriented policies. Importing technology and skilled labor, investing heavily in research and development, importing technology and developing export markets are some examples of these growth-oriented policies. The Singapore Government is committed to improving human capital through retraining and lifelong learning, which can be seen in all these growth-oriented policies. Bangladesh can learn more about reducing inequality and put these policies into practice. Originality/value – This study has frankly revealed the inequality issues in Bangladesh. This study has spotted the scarcities of development and the accurate picture of achievement from the perspective of inequality and prosperity dissemination.