scholarly journals The Behavioral Aspect of Economic Growth

2021 ◽  
Vol 8 (523) ◽  
pp. 13-18
Author(s):  
T. M. Panevnyk ◽  
◽  
N. K. Bolgarova ◽  
Keyword(s):  
Economic Growth ◽  
Decision Making ◽  
Economic Development ◽  
Behavioral Economics ◽  
Significant Influence ◽  
Analytical Models ◽  
Behavioral Factors ◽  
Global Competitiveness ◽  
Behavioral Aspect ◽  
Quality Of Life Index

The article discusses the essence and significance of behavioral economics. The need to take into account the instrumentarium of behavioral economy in the process of solving socio-economic problems is substantiated. The macroeconomic indicators of development of Ukrainian economy are analyzed. Ukraine’s place in the world ranking in terms of GDP per capita is considered. The integrated assessment of the overall economic activity of the country using the Global Competitiveness Index (IGC), the Human Development Index (HDI), and the index of Quality of Life Index by Country are carried out. International comparison of economic growth indicators is highlighted. The dynamics of total income, expenses, savings of the population are analyzed and the significant influence of behavioral factors on decision-making in this sphere is identified, their relationship at both micro and macro levels is disclosed. A significant influence of behavioral factors on decision-making on consumption, expenses and savings is identified, their importance in crisis situations is emphasized. It is proved that the behavioral aspect of economic growth involves not just the inclusion of psychological factors in the classical analytical models, but a combination of microeconomic components with macroeconomic ones. The need to expand the analysis of economic development based on taking into account the behavioral aspect as the driving force of economic development is substantiated. It is noted that the instruments of behavioral economics should be used in the process of developing and conducting socio-economic policy. It is defined that the behavioral economy is one of the instruments that strengthens the possibilities of effective decision-making by the actors together with their impact on socio-economic processes.

Efficiency Driven Effect of Education in China: The Perspective of Global Competitiveness and Graduate Education

2021 ◽  
Vol 1 (1) ◽  
pp. 36-43
Author(s):  
Jia Liu ◽  
Lun Li
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Economic Development ◽  
Practical Significance ◽  
Education Policies ◽  
Global Competitiveness ◽  
Higher Education Policies ◽  
Level Of Economic Development ◽  
Education In China

Capital, natural resources, technology and education are often considered to be the most important factors in improving the level of economic development. China is in the "efficiency-driven" stage of economic development. There are objective laws in the development of education level and economic growth, but they interact with each other. Economic growth provides the foundation and necessary conditions for the development of education. At the same time, the role of education in promoting economic growth is also very obvious. Based on the perspective of postgraduate training, this paper studies the role of education in economic efficiency-driven, through the study of theory, data collection and empirical analysis, combined with the development characteristics of China's higher education, and compares China's and US higher education policies to guide China's higher education. The development of education, and then promote the transformation of China into the "innovation-driven" stage, has certain theoretical and practical significance.

Research on the Development of the Logistics Industry

2014 ◽  
Vol 687-691 ◽  
pp. 4568-4572
Author(s):  
Hai Chen Zhan
Keyword(s):  
Economic Growth ◽  
Decision Making ◽  
Economic Development ◽  
Division Of Labor ◽  
Gansu Province ◽  
Policy Recommendations ◽  
Logistics Industry ◽  
The Social ◽  
Econometric Approach ◽  
The Relationship

Modern logistics industry as an emerging industry, with the industrial division of labor with the social refinement and depth, to promote China's economic development has become an important industry and new economic growth point. This paper uses econometric approach to relations of the logistics industry and economic growth in Gansu Province made an empirical analysis reveals and Reveals the relationship between logistics industry and economic development in Gansu Province And for the results of the analysis are summarized and give relevant policy recommendations, hoping to provide a reference for the development of decision-making in Gansu.

scholarly journals 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

2019 ◽  
Vol 11 (8) ◽  
pp. 2389 ◽  
Author(s):  
Wang ◽  
Le
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.

EFFECTS OF LIFELONG EDUCATION AND RELATED FACTORS ON THE COMPETITIVENESS OF COUNTRIES

2015 ◽  
Author(s):  
Aija SANNIKOVA ◽  
Aina DOBELE ◽  
Madara DOBELE
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Causal Relationship ◽  
Lifelong Education ◽  
Related Factors ◽  
Global Competitiveness ◽  
Positive Effects ◽  
The Stability ◽  
Two Stages ◽  
Stages Of Economic Development

Modern knowledge becomes a strategic endowment of the country and its key resource for economic growth, giving individuals opportunities to become active employers or increasing their opportunities to become professionals being demanded in the labour market. For these reasons, the development of lifelong education is a significant tool for economic growth in Latvia. Correlation and linear regression analyses showed that lifelong education made the strongest and most positive effects on a country’s competitiveness at two stages of economic development: at the innovation-driven stage and during a country’s transition to it from the efficiency-driven stage (the case of Latvia). Calculations were preformed based on the data for 2008 and 2013, and the results were similar, which indicated the stability of this global causal relationship. So the authors conclude that a country’s stage of economic development plays a crucial role in the extent the factor of lifelong education can affect the country’s global competitiveness. In the countries being at lower stages of economic development, even well-developed lifelong education is not objectively capable of increasing their competiveness as effectively as it takes place, for example, at the innovation-driven stage. Proving a causal relationship – the capability of lifelong education to increase a country’s competitiveness is determined by the existing economic background and rules of game, which are different at different stages of economic development – based on research of the economic aspects of lifelong education may be regarded as the key gain of the present research.

Research on the Relationship between Economic Development and Environmental Quality Based on Environmental Kuznets Curve

2011 ◽  
Vol 281 ◽  
pp. 69-73
Author(s):  
Jin Ying Li ◽  
Ya Jun Wei ◽  
Peng Cheng
Keyword(s):  
Economic Growth ◽  
Decision Making ◽  
Economic Development ◽  
Environmental Kuznets Curve ◽  
Environmental Issues ◽  
Kuznets Curve ◽  
Ekc Hypothesis ◽  
Environment Quality ◽  
Economy Growth ◽  
The Relationship

With economy growth and industrialization, resources and environmental issues become seriously increasingly. People argue about that economy growth is whether the reason for environmental issues or the dynamic of resolving environmental issues. This argue give rise to the research upsurge of the relation of environment and economy. Environmental Kuznets Curve (EKC) hypothesis is the most typical among those. EKC is applied to analyze the relationship between economic growth and the changes of environment quality, it aims to provide a scientific reference for the decision-making policies of relevant department.

scholarly journals Book Review: Real-World Decision Making: an Encyclopedia of Behavioral Economics

2016 ◽  
Vol 55 (4) ◽  
pp. 325
Author(s):  
Stacey Marien
Keyword(s):  
Economic Growth ◽  
Decision Making ◽  
Behavioral Economics ◽  
Institutional Change ◽  
Economic History ◽  
Business School ◽  
High Wage ◽  
Head Of School ◽  
Empirical Macroeconomics

Altman is the Dean and Head of School of the Newcastle Business School, University of Newcastle in Callaghan, Australia. His areas of research include behavioral economics, x-inefficiency theory, institutional change, economics of cooperatives, economic history, methodology, and empirical macroeconomics. He has previously edited the Handbook of Contemporary Behavioral Economics (Routledge, 2006) and authored Behavioral Economics for Dummies (Wiley, 2012) and Economic Growth and the High Wage Economy (Routledge, 2012).

Good Treats

2013 ◽  
pp. 118-135
Author(s):  
Harish Sujan ◽  
Silvio Borrero ◽  
David Cranage
Keyword(s):  
United States ◽  
Decision Making ◽  
Economic Development ◽  
Behavioral Economics ◽  
Service Providers ◽  
The United States ◽  
Developed Economies ◽  
Restaurant Managers ◽  
Eating Out ◽  
The Cost

With economic development in countries like India comes an increasing appetite to eat out, and, as a consequence, more prevalent obesity. Eating out does not have to bring joy at the cost of wellbeing. Prosperity in India does not have to lead to obesity, as it has in the United States with 62% of its people being diagnosed as clinically obese. Suggesting a balance between hedonism and personal care, in this chapter, the authors identify what motivates people, restaurant patrons in particular, to find this balance. Using research on decision-making in behavioral economics, theories of motivation and perspectives in positive psychology, they identify alternative ways for consumers to achieve this balance—and for service providers to enable them to do so. Based on the idea that good business, ethical and caring business, enables stable and growing markets, the authors advocate that restaurant managers market their businesses as providing not just treats but good treats! The recommendation, they explain, is even more pertinent for emerging economies than it is for developed economies.

Global Restructuring, Knowledge and Learning

2004 ◽  
pp. 66-76
Author(s):  
E. Hershberg
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Political Institutions ◽  
Lower Cost ◽  
International Competitiveness ◽  
Value Chains ◽  
Global Competitiveness ◽  
Global Restructuring ◽  
Intensive Exploitation ◽  
High Road

The influence of globalization on international competitiveness is considered in the article. Two strategies of economic growth are pointed out: the low road, that is producing more at lower cost and lower wages, with increasingly intensive exploitation of labor and environment, and the high road, that is upgrading capabilities in order to produce better basing on knowledge. Restrictions for developing countries trying to reach global competitiveness are formulated. Special attention is paid to the concept of upgrading and opportunities of joining transnational value chains. The importance of learning and forming social and political institutions for successful upgrading of the economy is stressed.

Modern university as an economic growth driver: Models & missions

2017 ◽  
pp. 58-76 ◽  
Author(s):  
A. Karpov
Keyword(s):  
Economic Growth ◽  
Education Research ◽  
Advanced Technology ◽  
Global Competitiveness ◽  
Technology Markets ◽  
Fast Growing ◽  
Business Ecosystem ◽  
Cost Efficient ◽  
National Economies ◽  
The University

The paper considers the modern university as an economic growth driver within the University 3.0 concept (education, research, and commercialization of knowledge). It demonstrates how the University 3.0 is becoming the basis for global competitiveness of national economies and international alliances, and how its business ecosystem generates new fast-growing industries, advanced technology markets and cost-efficient administrative territories.

Peculiarities of Modern Dynamics of the Global Economy

2010 ◽  
pp. 78-92 ◽  
Author(s):  
V. Klinov
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Business Cycles ◽  
Global Economy ◽  
Long Waves ◽  
Rapid Expansion ◽  
Business Taxation ◽  
Modern World ◽  
China And India ◽  
World Economic

Rates and factors of modern world economic growth and the consequences of rapid expansion of the economies of China and India are analyzed in the article. Modification of business cycles and long waves of economic development are evaluated. The need of reforming business taxation is demonstrated.

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