Sustainable economic development in India: The dynamics between financial inclusion, ICT development, and economic growth

A possible way to increase responsible and sustainable economic development is to enhance collective innovation and entrepreneurship on various systemic levels in order to gain socio-economic developmental momentum. In an era which faces socio-economic changes on multiple systemic levels, especially within the mundosystem, collective and creative approaches towards systemic activities are necessary, not only to drive businesses forward, but to give momentum to global economies. In this chapter, the author philosophizes about entrepreneurship, systems theory and socio-economic momentum and how these play an important role to give momentum to responsible and sustainable economic growth.

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Application of Multi-Criteria Decision-Making Model and GM (1,1) Theory for Evaluating Efficiency of FDI on Economic Growth: A Case Study in Developing Countries

Sustainability ◽

10.3390/su11082389 ◽

2019 ◽

Vol 11 (8) ◽

pp. 2389 ◽

Cited By ~ 4

Author(s):

Wang ◽

Keyword(s):

Economic Growth ◽

Decision Making ◽

Developing Countries ◽

Economic Development ◽

Exchange Rate ◽

Malmquist Productivity Index ◽

Productivity Index ◽

Sustainable Economic Development ◽

Sustainable Economic Growth

Foreign direct investment (FDI) and corporate social responsibility (CSR) spending are one of the major factors in improving sustainable economic development of a country. Therefore, this study focuses on the multi criteria application of FDI and sustainability factors (CSR spending) in various developing countries to explore its impact and decision making for sustainable economic growth. The study uses a case study methodology whereby FDI, exchange rate, and CSR expenditure data from 20 countries were used to assess the efficiency in sustainable economic growth. Data were collected from the World Bank for 20 Asian and African developing countries during 2012–2017 and analyzed using GM (1,1), mean absolute percentage error (MAPE), Malmquist productivity index (MPI)-data envelopment analysis (DEA), and the slacks-based measure of efficiency (SBM) model. Correlation analysis is used to find the relationship for FDI, CSR, exchange rate, gross domestic product (GDP), and GDP per capita (GDPPC). The results of the Malmquist productivity index and the frontier effect clearly highlight that a few countries have witnessed a great improvement in terms of productivity and technological progression. Therefore, the decision makers must adopt the model of those countries with respect to sustainable development of the nation. This study helps developing nations as well as researchers to benchmark efficient countries and follow their strategies to develop a new one for utilizing FDI and CSR spending in sustainable economic development. The study also helps policy makers in multi criterion application of FDI and CSR for decision making in economic development.

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New Evidence for Romania Regarding Dynamic Causality between Military Expenditure and Sustainable Economic Growth

Sustainability ◽

10.3390/su12125053 ◽

2020 ◽

Vol 12 (12) ◽

pp. 5053 ◽

Cited By ~ 2

Author(s):

Ran Tao ◽

Oana Ramona Glonț ◽

Zheng-Zheng Li ◽

Oana Ramona Lobonț ◽

Adina Alexandra Guzun

Keyword(s):

Economic Growth ◽

Economic Development ◽

Structural Changes ◽

Private Investment ◽

Military Spending ◽

Military Expenditure ◽

Crowding Out ◽

Annual Growth Rate ◽

Sustainable Economic Development ◽

Sustainable Economic Growth

Military spending and sustainable economic development have been widely discussed in recent decades. Especially in Romania, the defense budget is valued at $4.8 billion, registering a compound annual growth rate (CAGR) of 23.57%. It is also expected to reach $7.6 billion in 2023, according to a report by Strategic Defense Intelligence. There is no consensus in current research and less attention is paid to Eastern European countries. Considering the significant increase in military spending in Romania in recent years, as well as the occurrence of political events, this paper focuses on the dynamic causal relationship between military spending and sustainable economic growth in Romania. The bootstrap rolling window causality test takes into account the structural changes, and therefore, provides more convincing results. The results indicate negative effects of military expenditure on sustainable economic growth between 1996–1999 and 2002–2004. It can be attributed to the crowding-out effect of public expenditure on private investment. The positive effect between the two variables analyzed is noticed with the accession of Romania to the North Atlantic Treaty Organization. Conversely, it is found that economic growth does not have a significant effect on military spending in Romania. Policymakers should guard against the crowding out of private consumption and investment due to excessive military spending and ensure to increase military expenditure on the premise of sustainable economic development.

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A Correlative Analysis of Modern Logistics Industry to Developing Economy Using the VAR Model: A Case of Pakistan

Journal of Advanced Transportation ◽

10.1155/2020/8861914 ◽

2020 ◽

Vol 2020 ◽

pp. 1-10

Author(s):

Salman Hanif ◽

Dong Mu ◽

Saranjam Baig ◽

Khalid Mehmood Alam

Keyword(s):

Economic Growth ◽

Time Series ◽

Developing Countries ◽

Economic Development ◽

Developing Economies ◽

Series Data ◽

Var Model ◽

Modern Logistics ◽

Logistics Industry ◽

Sustainable Economic Development

The modern logistics industry has opened new strategic perspectives in establishing its interrelation with economic growth. In recent years, understanding such an overlap has become a policy issue considering ever-increasing factors and their influence on this relation. Most existing studies have explored this interaction from a general perspective, or for developed countries. This paper explores time-series analysis of the dynamic variables and their inter-related influence in both the short and long run on the relationship between modern logistic industry and economic growth—a more specific perspective, particularly for developing countries. Accordingly, we exemplify our analysis by employing the vector autoregression (VAR) model to the most updated time series data of investment in the logistics industry and the economic growth of Pakistan from 1990 to 2018. The empirical findings endorse the previous studies’ outcomes and recognize the importance of sustainable economic development concerning continuously improving the logistics industry. However, a unidirectional relation is observed that economic growth leads to developing the logistics industry—economic growth exerts a significant demand-pull effect on Pakistan’s logistics. It implies that logistic industrial development is comparatively quicker in the geographical areas where economic growth is higher than those areas where economic growth is low. To conclude this study’s findings, logistics industry reforms should prioritize the selected geographical areas in improving the economy that would lead to the modern logistics industry’s development. As the model adopts Pakistan’s context, the overall statistical analysis can be generalized to other developing economies. These results would be of particular interest to strategy makers working in developing countries and help them design and develop modern transportation and logistics, coupled with interlinked technological factors, which would attract investment in the logistics industry for sustainable economic development.

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Perspectives Measuring more than just economic growth to improve well-being

Journal of Public Health ◽

10.1093/pubmed/fdaa203 ◽

2020 ◽

Author(s):

Shaun Danielli ◽

Patrice Donnelly ◽

Tom Coffey ◽

Schellion Horn ◽

Hutan Ashrafian ◽

...

Keyword(s):

Economic Growth ◽

Economic Development ◽

Gross Domestic Product ◽

Well Being ◽

Good Health ◽

Domestic Product ◽

Economic Prosperity ◽

Sustainable Economic Development ◽

The Uk ◽

Health And Well Being

Abstract It’s official: The UK is in a recession. The economy has suffered its biggest slump on record with a drop in gross domestic product (GDP) of 20.4%. 1 This is going to have a significant impact on our health and well-being. It risks creating a spiralling decay as we know good health is not only a consequence, but also a condition for sustained and sustainable economic development. 2 In this way, the health of a nation creates a virtuous circle of improved health and improved economic prosperity. How we measure prosperity is therefore important and needs to be considered.

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Enhancing economic development via the increase of the quality of education

Opus et Educatio ◽

10.3311/ope.374 ◽

2020 ◽

Vol 8 (2) ◽

Author(s):

Katalin Nagy

Keyword(s):

Economic Growth ◽

Economic Policy ◽

Human Capital ◽

Economic Development ◽

Educational Development ◽

Quality Of Education ◽

Know How ◽

Sustainable Economic Development ◽

Key Factor

Sustainable economic development is one of the most important mission of economic policy. More analysis demonstrate that the key factor is the investment of human capital, which means a correlation between economic growth and quality of education. In this study we overview, how human capital and educational development effect to the economic growth, and how is it possible to quantify the results. We also get to know how the degree of development influenced by the quality of education.

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APPROACHES TO THE FORMATION OF SUSTAINABLE ECONOMIC DEVELOPMENT OF TRANSPORT SYSTEM

Proceedings of CBU in Economics and Business ◽

10.12955/peb.v1.17 ◽

2020 ◽

Vol 1 ◽

pp. 45-48

Author(s):

Olga Efimova ◽

Elena Makeeva ◽

Elizaveta Dmitrieva

Keyword(s):

Economic Growth ◽

Sustainable Development ◽

Economic Development ◽

Transport System ◽

Rapid Development ◽

Integrated System ◽

Transport Infrastructure ◽

Development Economic ◽

The Sustainable Development ◽

Sustainable Economic Development

The world economy as an integrated system has limited growth limits, natural resources are limited, so a new concept of sustainable economic development has emerged, based on a balance of the economy, social goals and ecology. Sustainable development is the development of the country's economy and the global system in which current needs are met without compromising future opportunities. The rapid development of transport infrastructure creates the prerequisites for the sustainable development of centers of macro and microeconomic growth and helps to reveal their potential in the future. The article considers the role of transport as an additional priority for sustainable development at the macro level and the types / functions of connectivity of economic growth centers in the sectoral and regional aspects. In turn, the concept of sustainable development of the transport system involves taking into account the features of the transport system as an object of increased danger and a high degree of influence on the main priorities of sustainable development (economic growth, social system and ecology) of the macroeconomics. It was noted that, on the one hand, the transport system, being part of the country's macroeconomic system, affects the priorities of its sustainable development, and on the other hand, has independent priorities for sustainable development in the field of economic growth and efficiency, social potential and environmental aspects, including issues of ensuring security.

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Determining the nexus between financial inclusion and economic development in Pakistan

Journal of Money Laundering Control ◽

10.1108/jmlc-12-2017-0068 ◽

2019 ◽

Vol 22 (2) ◽

pp. 195-209 ◽

Cited By ~ 1

Author(s):

Muhammad Subtain Raza ◽

Jun Tang ◽

Sana Rubab ◽

Xin Wen

Keyword(s):

Economic Growth ◽

Economic Development ◽

Data Analysis ◽

Positive Relationship ◽

Meta Analysis ◽

Financial Inclusion ◽

Content Type ◽

Bank Branches ◽

Bank Accounts ◽

The Government

PurposeThis paper aims to evaluate the relationship between financial inclusion and economic development in Pakistan based on available sources of detailed data and assess its outcome of financial inclusion on basic standards of life, then accord relevant recommendations to prompt economic growth and development.Design/methodology/approachThe research design selected for data analysis was meta-analysis, besides, data analysis over the period 2010-2015 was performed by using a descriptive statistical approach, regression and correlation analysis, i.e. the Pearson correlation matrix.FindingsThe authors find a positive relationship between financial inclusion and economic development, resultantly; increase in financial inclusion may lead to an increase in economic development. In detail, the number of the number of bank accounts (per 1,000 adult population) and the number of bank branches (per 100,000 people) have a positive relationship with human development index (HDI). Where else the amount of automated teller machines per 1,000 km2(per cent) reveals a negative relationship.Practical implicationsThe study has shown that expand financial access such as strengthen the establishment of bank accounts and bank branches can increase economic development in Pakistan. That is the government should focus on the financial inclusion policies as a means of ameliorating poverty, through a participation of all economic agents in the financial system. There is an utmost need for the Government of Pakistan to prioritize the importance of financial inclusion.Originality/valueThe novelty of the study is taken HDI and three representative indicators as a measurement of economic growth and financial inclusion, respectively, meanwhile, meta-analysis, multivariate regression model sum up that poverty alleviation is connected with the development of a more inclusive financial services sectors.

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