Tourism-led and economic-driven nexus in Mauritius: Spillovers and inclusive development policies in the case of an African nation

2021 ◽  
pp. 135481662110132
Author(s):  
Rukmani Gounder
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Development Policy ◽  
Policy Implications ◽  
Time Dependent ◽  
Inclusive Development ◽  
African Countries ◽  
African Nation ◽  
Monthly Data ◽  
Development Policies

This study investigates the dynamic linkages between tourism growth and economic growth in the African island nation of Mauritius using the spillover index framework based on the monthly data from 2003M11–2020M02. The Granger causality results reflect bidirectional static linkages between tourism-led economic growth (TLEG) and economic-driven tourism growth (EDTG). The dynamic spillover findings show a varying magnitude and direction of TLEG and EDTG hypotheses that are time-dependent. These relationships indicate distinct outcomes where tourism growth or economic growth is the net transmitter or recipient of shocks. The level of spillovers is influenced by economic events, climatic disasters and the coronavirus-19 pandemic crisis. Some inclusive and sustainable development policy implications are drawn for Mauritius and other tourism-dependent African countries.

scholarly journals Modelling the Globalization-CO2 Emissions Nexus: Evidence From Quantile-on-Quantile Approach

2021 ◽  
Author(s):  
Tomiwa Adebayo ◽  
Alex Acheampong
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Quantile Regression ◽  
Positive Feedback ◽  
Jel Classification ◽  
Policy Implications ◽  
Coal Consumption ◽  
Net Zero ◽  
Development Policies ◽  
Robustness Check

Abstract Sustainable development policies for achieving net-zero emissions require understanding the factors that influence CO2 emissions. Capitalizing on the limitations of the existing literature, this study applies the Quantile-on-Quantile (QQ) approach to investigate economic globalization’s impact on CO2 emissions in Australia for 1970-2018. The results from the QQ revealed a positive feedback linkage between globalization and CO2 emissions at all quantiles. The results further indicated that while there is a positive feedback linkage between economic growth and CO2 emissions at most quantiles, a positive feedback interconnection exists between CO2 pollution and coal consumption at all quantiles. As a robustness check, we employed the quantile regression (QR) test, and the results from QR are consistent with the findings from QQ. The consistency of the results suggests that these study findings are reliable and suitable for informing policies that seek to address CO2 emissions in Australia. The policy implications for Australia are discussed.JEL Classification: C14; C22; F64; Q56

scholarly journals Smart Cities for Sustainable Development in India: Opportunities and Challenges

2019 ◽  
Vol 8 (3) ◽  
pp. 133 ◽  
Author(s):  
Vaidehi Daptardar ◽  
Manasi Gore
Keyword(s):  
Sustainable Development ◽  
Smart City ◽  
Smart Cities ◽  
Policy Implications ◽  
Inclusive Development ◽  
Sustainable Environment ◽  
Rural And Urban ◽  
Efficient Resource ◽  
Development Goals

The concept of Sustainable development underlines the long lasting development of an economy by an efficient resource use fulfilling the economic, social and environmental aspects together. The SDGs by the UNDP focus  on 17 goals for all countries to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.The mission of Smart Cities in India is to promote cities that provide core infrastructure and give a decent quality of life to its citizens, a clean and sustainable environment and application of ‘Smart’ Solutions. The focus is on sustainable and inclusive development of the Mega cities, an indispensable outcome of the development process and urbanization implied in it. During the course of economic development over last 70 years in India, many cities have emerged as unsustainable and highly vulnerable to manmade calamities.This paper would elaborate on the details of Smart city project in India in the light of Sustainable development. The Smart cities mission though aims at sustainable development, this path is full of challenges along with some opportunities in disguise. The paper would suggest some policy implications such as developing smart villages along with these smart cities to bridge the gap between the rural and urban India.   Keywords: Smart city mission, Sustainable development, Smart villages, Sustainable Development Goals (SDGs)

scholarly journals Principles of inclusive regional development in the conditions of financial decentralization

2019 ◽  
pp. 125-132
Author(s):  
Iryna Tsymbaliuk
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Regional Development ◽  
Optimal Allocation ◽  
Inclusive Development ◽  
Financial Resources ◽  
Self Development ◽  
Development Concept ◽  
Definition Of ◽  
Development Mechanism

Purpose. The aim of the article is the development of the inclusive regional development concept, which is seen as the response to the opportunities and threats that the decentralization of power and the financial decentralization of formed territorial communities. Methodology of research. Conventional economic methods are used in the study, in particular: monographic and system-structural, which are used in the development of the inclusive regional development concept in the conditions of decentralization. Findings. It is determined that global trends are oriented towards achieving the prospects of sustainable and inclusive development. The suggested concept of inclusive regional development is adapted to the new conditions taking this into consideration, and taking into account the current processes of financial decentralization taking place in Ukraine. The suggested definition of inclusive development reveals its content and ways of achieving social and economic growth, improving the quality of life of the population. The basic conceptual idea of inclusive regional development is formed and to define the goals, objectives and ways of its implementation. The essence and the author`s vision of financial decentralization as a process of transfer from the central to the local self-government bodies of financial resources, powers, making decision rights in order to better meet the needs of the population in obtaining public goods, intensify the economic growth of the respective territories are disclosed. The main components of the financial decentralization mechanism (methods, tools, principles, forms and factors) are characterized. The definition of the regional self-development mechanism in the conditions of financial decentralization is given and the imperatives of regional self-development mechanism functioning in the conditions of financial decentralization are revealed. Determinants of inclusive regional development are identified, which in their interaction create a synergistic effect for the sustainable development goals achieving. The article proves the necessity of further investigation of theoretical and institutional foundations of regional development with a view to implementing the decentralization of power policy and the necessity of adequate financial support of these processes. Originality.The concept of inclusive regional development under the conditions of financial decentralization is substantiated, which provides for optimal allocation of the financial resources of local self-government bodies accumulated in the local budget due to the effective use of opportunities from financial decentralization and minimizing its potential threats, in order to achieve sustainable development of the region with maximizing the share of the community social product and ensuring a fair distribution of the benefits received on the basis of inclusive growth. Practical value. The obtained results of the study are the basis for solving practical problems of regional development in the context of decentralization in Ukraine. Key words: inclusive regional development concept; financial decentralization; financial decentralization mechanism; financial decentralization factors; inclusive development; region`s self-development mechanism.

scholarly journals Trivariate Modelling of the Nexus Between Financial Development, Globalization and Economic Growth: Insight from African Countries

2021 ◽  
Vol 2 (3) ◽  
pp. 129-142
Author(s):  
Azeez Olarewaju Ahmed
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Capital Investment ◽  
Physical Capital ◽  
External Financing ◽  
African Countries ◽  
Pooled Mean Group ◽  
Development Policies ◽  
Alternative Sources ◽  
Finance Growth Nexus

Financial development has been identified as main drivers of economic growth. However, empirical probe of this nexus remains inconclusiveness due use of an inappropriate proxy by previous studies, and the inability of previous studies to consider globalization in this nexus. To this end, we probe the finance-growth nexus in the presence of globalization by applying the Pooled Mean Group (PMG) estimator to a sample of 21 countries spanning 1990–2017. The empirical results affirm the supply-leading hypothesis which indicates that financial development spur economic growth. In addition, our estimate provides evidence of a positive linear relationship between globalization and economic growth. Further, results indicate that physical capital investment plays an important role in accelerating economic performance of African economies. Based on these findings, it is important for African countries to promote globalization-financial development policies in order to have access to alternative sources of external financing and attract foreign investment that can spur growth of African countries.

scholarly journals Inclusive rural development: a scientific discourse

2019 ◽  
Vol 2019 (1) ◽  
pp. 67-82
Author(s):  
Olena Borodina ◽  
Ihor Prokopa
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Rural Development ◽  
Rural Areas ◽  
Rural Economy ◽  
State Regulation ◽  
The State ◽  
Inclusive Development ◽  
Theoretical Concepts ◽  
The Law

The article considers the essential features of rural development as a multi-vector process, which not only involves economic growth in rural areas, but also requires its adaptation to human behavior, social and political structure of rural communities and their involvement in development processes. It also reflects systemic positive changes in rural areas, which are initiated "from bottom" and supported "from top". In this concept of rural development, inclusiveness is inherent. The authors show that the development of the concept of "inclusive rural development" took place in the process of enrichment and specification of the theoretical concepts of sustainable development, inclusive growth and inclusive development in relation to the rural sector of society. This concept denotes a development whose result consists in the creation of proper conditions for the rural population for such purposes as: the use of land and other local resources in the economic activities; adequate distribution of the results of economic growth in the agriculture and other sectors of the rural economy; and participation in social and public life for the consolidation of communities and observance of human rights. Such development leads to the reduction of poverty, overcoming the economic, social and political exclusion of people residing in rural areas. It is pointed out that ensuring the inclusive development is a function of the state regulation of national economy. To implement it in Ukraine, it is necessary to ensure, first of all, the implementation, in the regulatory and legal framework, of the global goals of sustainable development and the objectives for their achievement. That could be realized by adopting the Law on the Strategy for Sustainable Development until 2030, and, in the part of inclusive rural development, also the Law on the Basic Principles of the State Agrarian Policy and State Policy of Rural Development.

scholarly journals Inclusive Growth Flagship Initiatives: EU vs Ukraine

2020 ◽  
pp. 106-114
Author(s):  
O. Chaikin
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Sustainable Development Goals ◽  
Social Protection ◽  
Inclusive Development ◽  
Practical Implementation ◽  
Inclusive Growth ◽  
Development Goals ◽  
Global Economic Growth ◽  
The Eu

Significant imbalances of existing development models are demonstrated by global economic growth, and outlines the need to move to a new more flexible and balanced model that is able to maintain the declared high and long-term growth rates together with the preservation of social equality and population general welfare. The purpose of the study is to identify EU comprehensive growth opportunities through of EU flagship initiatives achievement current EU situation in the field of poverty, unemployment, youth and women's unemployment and their involvement as labor force geographical aspects analysis; current state and prospects of EU inclusive development analysis; possibility of the sustainable development goals and inclusive growth based on the EU's flagship initiatives achievement substantiation. The object of the study is the process of inclusive economic growth within the EU through the EU flagship initiatives practical implementation. It is determined that along with traditional economic growth indicators it is necessary to take into account the human capital equality, ecological state of the environment, social protection, food security and social cohesion. Imperative knowledge on the interconnection of EU policy priorities and flagship initiatives, sustainable development goals and their compliance with inclusive economic development are systematized. The expediency of European inclusive economic growth model, declared in the “Europe 2020” strategy, design and implementation was grounded. Modern trends and geographical aspects of state of unemployment and poverty in the European region countries is determined. The level of women's participation in the European economy is analyzed. The level of women employment in comparison with men in the EU countries is analyzed, which made it possible to determine that this indicator is consistently lower, however, there is no significant disparity in most member states. It is substantiated that at the new cross-border economic order conditions, proposed by the EU, inclusive growth allows all member countries enjoy the progressive results of the union, economic integration and economic growth. Key words: inclusive growth, sustainable development, employment.

scholarly journals Evolution of economic theories of sustainable rural development

Ekonomika APK ◽  
2020 ◽  
Vol 312 (10) ◽  
pp. 49-61
Author(s):  
Olga Khodakivska ◽  
Olena Kononenko
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Rural Development ◽  
Research Methods ◽  
Rural Areas ◽  
Inclusive Development ◽  
Economic Research ◽  
Sustainable Rural Development ◽  
Economic Theories ◽  
Methodological Basis

The purpose of the article is to generalize theoretical approaches to defining the essence of balanced rural development through the prism of the evolution of theories of spatial and inclusive development and the concept of sustainable eco-socio-economic growth. Research methods. The methodological basis of the research was general scientific and economic research methods, scientific works of Ukrainian and foreign scientists on sustainable rural development and the evolution of scientific thought regarding this problem. In particular, the research used the following methods: abstract-logical (when proposing a hypothesis, making generalizations, formulating conclusions and proposals); analysis and synthesis (in the study of the evolution of theories of spatial and inclusive development and the concept of sustainable eco-socio-economic growth); induction and deduction (to study the essence of the category of balanced rural development). Research results. The evolution of the main economic theories of sustainable rural development, which, developing gradually according to the laws of dialectics, inherited the scientific developments and predictions of scientists of several generations, is revealed. Scientific novelty. Scientific approaches to the interpretation of the category "sustainable development of rural areas" were further developed, which was proposed to be understood as a process of improving the level and quality of life of the rural population, which, in turn, contributes to a variety of types of agricultural and non-agricultural activities, productive employment, diversification of incomes of rural households and filling budgets of local communities, social protection of residents, modern infrastructural development of the settlement network, preservation and enhancement of soil fertility, protection of landscapes and biological diversity. Practical significance. The study of the theories of spatial economics, inclusive growth and sustainable development can be-come in the future a scientific and methodological basis for the balanced (sustainable) development of rural areas, which will contribute to the restoration of human-centered socio-economic and ecological equilibrium in conditions of destabilizing internal and external factors. Tabl.: 1. Refs.: 48.

scholarly journals Sustainable Development of African Countries: Minding Public Life, Education, and Welfare

2021 ◽  
Vol 9 ◽  
Author(s):  
Danyang Li ◽  
Guosheng He ◽  
Hui Jin ◽  
Fu-Sheng Tsai
Keyword(s):  
Sustainable Development ◽  
Public Life ◽  
Developed Countries ◽  
Least Developed Countries ◽  
African Countries ◽  
Policy Makers ◽  
Development Policies ◽  
The World ◽  
The Status ◽  
Life Education

Sustainable development (SD) has increasingly played a key background role in government policymaking across the world, especially for the least developed countries in Africa. Therefore, the purpose of our research is to study the SD of African countries in public life, education, and welfare, and then to help policy makers better monitor the status of sustainable development and formulate development policies in these aspects. We firstly propose a new method to assess the SD in public life, education, and welfare. Then we assess the SD status in 51 African countries as well as other countries in the world. After that, we also make a comparison between African countries and the countries in other continents.

scholarly journals Revisiting the Relationship between Poverty and Environmental Sustainability in Sub-Saharan African Countries using Dynamic Econometric Models

Economy ◽  
2021 ◽  
Vol 8 (2) ◽  
pp. 16-25
Author(s):  
Owusu Samuel Mensah ◽  
Chen Jianlin ◽  
Fu Chuambo ◽  
Hu Qio
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Environmental Sustainability ◽  
Econometric Models ◽  
Sub Saharan Africa ◽  
African Countries ◽  
Development Goals ◽  
Sub Saharan ◽  
The Impact

Sustainable development remains an important issue in the quest to achieve a safe and a better world. The expansion of the 8 millennium development goals into the 17 sustainable development goals is a testament of the conscious desire to improve the human environment to ensure better quality of life for its citizens. This study assembles a collection of four sophisticated econometric models to determine the impact of poverty and other variables on two indicators of environmental sustainability. Beside, economic development, the study confirmed the negative impact of poverty on both indicators of sustainable development. The results prove that poverty in sub-Saharan Africa is a threat to environmental quality and its consequential challenges. The call to promote environmentally responsible behaviours should not be focused on developed countries alone. Poverty is also associated with high levels of pollution and poor countries including countries in sub-Saharan Africa contributes must equally restrategise for effective environmental goals. The study further discloses that poverty is one of the strongest factors that affect environmental sustainability. This observation is not a contradiction to the well-established fact that prosperity or economic growth is a major precursor of unsustainable environment. On the contrary the evidence in this paper amplifies a consequence of a social crisis if they fester at both ends. In one breath, whereas economic growth or economic prosperity can compromise the quality of the environment. In conclusion, this result implies that African countries in their pursuit of economic growth, education and effective healthcare to ameliorate poverty must incorporate other aggressive strategies to hasten poverty reduction.

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