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Prelims

Globalization, Income Distribution and Sustainable Development

ISBN: 978-1-80117-871-6, eISBN: 978-1-80117-870-9

Publication date: 25 May 2022

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(2022), "Prelims", Chandra Das, R. (Ed.) Globalization, Income Distribution and Sustainable Development, Emerald Publishing Limited, Leeds, pp. i-xxiii. https://doi.org/10.1108/978-1-80117-870-920221046

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Copyright © 2022 Ramesh Chandra Das. Published under exclusive licence by Emerald Publishing Limited

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Globalization, Income Distribution and Sustainable Development

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Globalization, Income Distribution and Sustainable Development: A Theoretical and Empirical Investigation

Edited by

Ramesh Chandra Das

Vidyasagar University, India

United Kingdom – North America – Japan – India – Malaysia – China

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Emerald Publishing Limited

Howard House, Wagon Lane, Bingley BD16 1WA, UK

First edition 2022

Editorial matter and selection © 2022 Ramesh Chandra Das. Published under exclusive licence by Emerald Publishing Limited.

Individual chapters © 2022 by Emerald Publishing Limited.

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ISBN: 978-1-80117-871-6 (Print)

ISBN: 978-1-80117-870-9 (Online)

ISBN: 978-1-80117-872-3 (Epub)

Dedication

This book is for all of my brothers and sisters

List of Figures and Tables

Figure 1. Equilibrium States.
Figure 1. KOF Economic Globalization Index (EcGI) Based Country Rankings.
Figure 2. Macroeconomic Performance and Inequality Score Based Country Rankings.
Figure 1. Indicator of Divergence (or Convergence) of per Capita Real Income.
Figure 2. Dynamic Features of Global Trade % of Global GDP and Log of Median of GAP.
Figure 1. Trend of CV for PCGDP, LER, and FDI.
Figure 1. Association among the Indices.
Figure 2. Time Series Movements of the Two Indicators.
Figure 1. Results Maps for Each Constitutive Dimension of the Composite Index.
Figure 2. Results Map for the Final Composite Index.
Figure 1. Interaction of Globalization and Countries' Sustainable Development.
Figure 2. Sustainable Development and Globalization.
Figure 1. Natural Capital (as % Total Wealth) over 1995 to 2014.
Figure 1. Impulse Response Factor.
Figure 1. Main Enablers of the Post-Carbon CI.
Figure 2. Relationship among Post-Carbon Transition, Environmental Justice as Well as Local and Global Supply-Side of the Post-carbon CI.
Figure 3. Achieving Reduction in the Environmental Footprint through Post-Carbon Transition Process Fostered by the Environmental Justice, Bioeconomy Principles, Strategies and Technologies.
Figure 1. XRD Pattern and Transmission Electron Microscope.
Figure 1. Trend of CV of NPSDP of States of India, 1993–1994 to 2011–2012.
Figure 2. Trend Line of PCSDP for the Years 1993–1994 and 2013–2014 for All the States.
Figure 1. Comparison between Italian and EU28 DESI Evolution (European Commission www.ec.europa.eu).
Figure 2. Italian Regional DESI – Macro-Areas Trend over Time.
Figure 1. Indicators of Trade and Growth.
Figure 2. Growth Trends of Different Factors.
Figure 3. Ogives and Herfindahl Index.
Figure 1. Area under the Cereal and Pulses Production over the Years (in Ha).
Figure 2. Area under Horticultural Production over the Years (in Ha).
Figure 1. Average D i of Different Dimensions Across the Districts.
Figure 2. Scatter Diagram of All Dimensions and IFI with NDDP.
Table 1. Test of Absolute and Conditional β-Convergence.
Table 1. Country Specific Summary Results.
Table 1. Statistical Results.
Table 1. Absolute β-Convergence: PCGDP, LER, and FDI.
Table 2. Conditional β-Convergence: PCGDP, LER, FDI.
Table 3. σ-Convergence: PCGDP, LER, FDI.
Table 1. Outputs of Hypotheses Testing.
Table 2. Development Indicators and Demographic Factors.
Table 1. Unit Root Test Results of Variables.
Table 2. Choosing Optimal Lag for Chile.
Table 3. Results of Toda Yamamoto Causality Analysis.
Table 1. Total Variance Explained (First 8 Component). Extraction Method: Principal Component Analysis.
Table 2. Pearson' Correlation Index Values.
Table A1. Dimensions Composition and Indicators Description.
Table 1. Inequality Decomposition by Income Source for Tree-Crop Households.
Table 2. Combination of the Choice of Livelihood Diversification Strategies in Tree-Crop Farming.
Table 1. TSLS Results_Model 1.
Table 2. TSLS Results_Model 2.
Table 3. TSLS Results_Model 3, Model 4, and Model 5.
Table 1. Results of Time Series Exercises.
Table 1. Growth of Human Capital, Natural Capital, and Total Wealth (Measured in Constant 2014 $US) during 1995–2014.
Table 2. Growth of Different Components of Natural Capital.
Table 1. The Weights in the Vulnerability Index and Sustainability Index of Fiji.
Table 2. ARDL Results: VIT/SUS vis-à-vis Variables of Interest.
Table 1. Cointegration Results.
Table 2. p-Value Table for Vector Autoregression Estimates' Results.
Table 1. Physicochemical Properties of Copper Nanoparticles.
Table 2. Mathematical and Statistical Analysis.
Table 1. Panel Unit Root Test for Stochastic Convergence on All States.
Table 1. The Digital Economy and Society's Three-Level-Structure Updated to 2020 (European Commission www.ec.europa.eu).
Table 2. The Trend of Regional DESI's Scores in Each Italian Region (2006, 2010, 2016).
Table 1. Share of Agriculture, Manufacturing and Services to State Domestic Product (SDP) in States.
Table 2. Generalized Linear Model (Quadratic Hill Climbing) Estimates of Effect of Agricultural, Manufacturing and Service Sector Growth on Economic Growth for Indian States, 1980–1981, 1993–1994, and 1999–2000, 2004–2005, 2011–2012, 2016–2017 (Dependent Variable: Ln GDP).
Table 3. OLS Estimates Showing Relation between State GDP, AGDP, MGDP, and SGDP [One Equation for Each of the Three Sectors].
Table 1. Results of Correlation Analysis.
Table 1. A SWOT Analysis for the SDGs of Tripura.
Table 1. IFI Values of the Districts of West Bengal.
Table 1. Women Directors in the Board of the S&P BSE-SENSEX Companies 2020–21.
Table 2. Corporate Governance Score of S&P BSE SENSEX Companies.
Table 3. Results of Hypothesis 1.
Table 4. Results of Hypothesis 2.

About the Contributors

Aishee Aich is currently a PhD scholar in the Economics Department, Vidyasagar University, India, and has been awarded a Gold Medal at the PG level in Economics (2015) from Vidyasagar University and an MPhil degree (2017) from the same institution. She cracked the NTA UGC National Eligibility Test in 2019.

Abhijeet Bag is currently an Assistant Professor in Commerce, Cooch Behar Panchanan Barma University, India. He formerly worked at Adamas University and Serampore College as Assistant Professor.

Aparna Banerjee, PhD, is currently an Assistant Professor in Economics at Serampore College, India. Dr Banerjee has research interests in various fields of economics and almost 25 publications in reputed international/national journals/edited books to her credit.

Suparna Banerjee, PhD, is currently an Assistant Professor in Chemistry at Bangabasi Evening College, Kolkata, India. She has more than 20 publications in reputed international/national journals/edited books. Her research interests lie in various fields of Nanoscience.

Marianna Bartiromo is currently completing her Master's degree in Administration and Public Policies at the University of Genoa. She is also a junior research assistant at the Channel and Retail lab of SDA Bocconi School of Management. Her research interests include social and economic statistics, sustainability, and index building.

Mainak Bhattacharjee is currently an Assistant Professor in Economics at Loreto College, Kolkata, India. He has been working in the areas of Macroeconomics and International Trade. He has contributed many research articles in reputed journals and chapters in edited volumes with international publications.

Bappaditya Biswas, PhD, is currently working as an Assistant Professor in the Department of Commerce, University of Calcutta. Dr Biswas has published more than 35 articles in different journals and edited volumes of repute.

Suchismita Bose, PhD from the Indian Statistical Institute, was an Economist with ICRA for 18 years and a major contributor to the ICRA Bulletin Money & Finance, focusing on financial markets. She is the Chief Economist at SURGE Research Support, where she continues research in Applied Econometrics.

Nilendu Chatterjee, PhD, is an Assistant Professor in the Department of Economics, Bankim Sardar College, West Bengal, India. He has research interests in Resource Economics, General Equilibrium, and Development Economics. Dr Chatterjee has published a number of research articles in several international journals of economics including Economic Affairs and Foreign Trade Review.

Tonmoy Chatterjee, PhD, is an Assistant Professor in the Department of Economics, Ananda Chandra College, West Bengal, India. He has research interest in International Trade Theory, General Equilibrium, Health Economics, and Development Economics. Dr Chatterjee has published a number of research articles in several international journals of economics including Review of Economics, Economic Affairs, Foreign Trade Review, and The Pakistan Development Review.

Somnath Chattopadhyay, PhD from Indian Statistical Institute, is an active researcher in Applied and Theoretical Econometrics and an Assistant Professor of Economics at Kandra Radha Kanta Kundu Mahavidyalaya, West Bengal, India. Earlier he worked as an Economist at the Monetary Research Project of ICRA.

Sayantani Roy Choudhury, PhD and PGDBA in Marketing, is currently an Associate Professor at Praxis Business School, Kolkata, India, with 18 years of teaching experience in various undergraduate and postgraduate colleges. Currently she is a visiting faculty at IIM Udaipur. Her areas of expertise are Economics, Statistics, Econometrics, Research Methodology, and Women Studies.

Andrea Ciacci is a PhD student in Management and Security, Department of Economics, University of Genoa, Italy. He is a member of scientific societies such as the Italian Society of Management, Italian Society of Marketing, among others. His research interests mainly focus on entrepreneurship, strategic management, tourism management, smart city, and statistics.

Subhrabaran Das, PhD, is currently at Tripura University as an Associate Professor of Economics. Earlier, he worked as an Assistant Professor at Assam University, India. He has more than 20 years of research experience under the different fields of economics in different institutions.

Rina Datt, PhD, is a Senior Lecturer in Accounting at Western Sydney University. Dr Datt is an internationally recognized expert on carbon accounting including carbon disclosure, carbon performance, carbon management and carbon assurance, and general sustainability such as waste recycling. Rina has industry experience of 25 years, working in private sectors as a Financial Accountant.

Hasan Dincer, PhD, is an Associate Professor of Finance at Istanbul Medipol University, Istanbul, Turkey. He has more than 100 scientific articles, and some of them are indexed in SSCI. He is also editor of many books published by Springer and IGI Global.

Ujjal Protim Dutta, PhD, is currently an Assistant Professor in Economics at Rangia College, Assam, India. He previously worked as a Post-Doctoral Fellow at the Department of Humanities and Social Sciences at the IIT Guwahati, India. He obtained his PhD in Economics from NIT Durgapur and holds a Master’s degree in Development Studies from IIT Guwahati.

Partha Gangopadhyay, PhD, is employed as an Associate Professor of Economics at Western Sydney University. He studied at Presidency College, JNU, before undertaking a PhD in Game Theory at the University of Sydney. He held chair professorships in Germany and many other countries and visiting professorship in US universities. He leads several accomplished journals as an editor and formally rated among the top 1.5% economists of the globe.

Dipti Ghosh is currently working as Junior Research Fellow in Economics at Jadavpur University, Kolkata, India. She has been associated with Bijoy Krishna Girls' College, Howrah, India, as a College Contractual Temporary Teacher of Economics. Her research interests lie in macroeconomics and Indian economy.

Reyes González-Relaño, PhD, is an Associate Professor of Regional Geographic Analysis at the University of Seville, Spain. Her research deals with the digital inequalities, sustainable development, innovation, regional development, multivariate techniques, and spatial analysis.

Enrico Ivaldi, PhD in Applied Economics and Quantitative Methods (University of Genoa), is Research Fellow in Social Statistics at the University of Genoa, Department of Political Science. He has participated in several national research projects – Ministry of Health, Ministry of Education, and the National Agency for Regional Health Services. He is a member of the editorial board of Revista de Estudios Andaluces (REA); the Scientific Committee of the National Nautical Observatory; among others.

Siddharth Jain is a doctoral student undertaking a PhD in Accounting since 2018. During his candidature Mr Jain has published several papers in peer-reviewed journals and book chapters in edited volumes. He has sessional appointments at Western Sydney University. He has a long track record of senior managerial role in the finance industry of India.

Sebak K. Jana, PhD, is currently a Professor of Economics at Vidyasagar University, West Bengal, India, with more than 20 years of teaching and research experience. His area of research includes environmental and resource economics and economics of education.

Hakan Kalkavan, PhD, has been working at Istanbul Medipol University, Department of Economics and Finance, as an Assistant Professor. During the 2019–2020 period, he worked as a TUBITAK postdoctoral researcher at Durham University, UK. His main research topics are Political Economy, Islamic Economic Thought, History of Economics, Religion-Ethics-Economic relations, and Business Ethics.

Hüsne Karakuş received a degree from the Banking and Insurance and International Trade and Finance Department, Istanbul Medipol University, Turkey, in 2020. Her research interests include energy finance, solar energy, wave energy, and renewable energy projects. She has authored some articles and international book chapters regarding these topics.

Asim K. Karmakar, PhD, is an Assistant Professor, Department of Economics, School of Professional Studies, Netaji Subhas Open University, Kolkata, India. Having diversified research interest, he has published more than 100 papers at home and abroad, and has written and edited books of high repute. Currently, he is the Managing Editor of Artha Beekshan. He has received two national and three international awards.

Debleena Kumar is currently an Assistant Professor in Commerce at Bijoy Krishna Girls' College, Howrah, India. She has more than five years of teaching and research experience. She has published some papers in reputed journals and books.

Napoleon Y. D. Kurantin, PhD, is a Senior Lecturer in Natural Resource Management, Development Economics, Geographic Information Science and Systems (GIS) in the Department of Development Policy, School of Public Service and Governance at the Ghana Institute of Management and Public Administration (GIMPA).

Krishnendu Maji is currently an Assistant Professor at Goenka College of Commerce and Business Administration, India. He earned a Master's degree from Presidency University and an MPhil in Economics from the University of Calcutta, and has more than 10 years of experience in teaching and research.

Amit Majumder, PhD, is currently an Associate Professor of Commerce at Bijoy Krishna Girls' College, Howrah, India. He has about 15 years of teaching and research experience. Dr Majumder has published several papers in reputed journals and books.

Subikash Mookherjee, PhD, is currently an Associate Professor of Economics at Mahishadal Raj College, West Bengal, India. He has been teaching Economics and Environmental Studies at the undergraduate level and Environmental Science and Business Economics at the postgraduate level since 2000. Dr Mookherjee's research areas are environmental economics and economics of urbanization.

Prosenjit Mukherjee, PhD, is currently an Assistant Professor in Economics at Bangabasi Evening College, Kolkata, India. He has publications in reputed international/national journals/edited books. He has research interests in various fields of economics.

Sovik Mukherjee is currently an Assistant Professor in Economics (Morning Section) under the Faculty of Commerce and Management at St. Xavier's University, Kolkata, India. He is a former Visiting Research Fellow (2019–2020) at NISPAcee, Bratislava, Slovak Republic. His current research interests are in Applied Econometrics, Applied Game Theory, Economics of Climate Change, and Public Policy.

Debabrata Mukhopadhyay, PhD, is a Professor of Economics at the West Bengal State University, India. He has more than 20 years of teaching and research experience. His research areas include applied financial econometrics, applied development economics, and agricultural economics.

Bertha Z. Osei-Hwedie, PhD, is a Professor of International Relations and Coordinator of the PhD Programme, School of Public Service and Governance, Ghana Institute of Management and Public Administration (GIMPA). She was the founding and Acting Dean of the School of Research and Graduate Studies, GIMPA.

Mihir Kumar Pal, PhD, is Professor of Economics, Vidyasagar University, India, with more than 25 years of research and teaching experience. He was awarded a Gold Medal at both the UG and PG levels in Economics from the University of Kalyani. After completing his MPhil at the University of Calcutta he received PhD from the University of Kalyani in 1997. Dr Pal's research interest lies in Industrial Productivity, Capacity Utilization, Environmental Economics, and Applied Econometrics.

Subrata Pradhan has an MSc in Economics from Vidyasagar University. He has research interests in banking, social sectors, and development economics, and is associated with various social organizations.

Sarbapriya Ray, PhD, is Associate Professor of Commerce, Vivekananda College, and a Visiting Professor in the Department of Commerce, University of Calcutta, India. He has completed his MCom, MBA, MPhil, and PhD, and published seven books and several articles in reputed national and international journals.

Begum Sertyesilisik, PhD, is currently a Professor at Izmir Democracy University, Turkey. She has been awarded a PhD at the Middle East Technical University and has completed MSc and MBA degrees at the Istanbul Technical University. She specializes in the fields of construction project management, sustainability, sustainable built environment, and contract and dispute management.

Egemen Sertyesilisik, PhD, is currently a freelancer and has received an MA degree in Politics and Mass Media from the University of Liverpool, UK, and a MBA degree from the Yıldız Technical University, Turkey. He has received his PhD from Marmara University, Turkey, in the field of Political Economy of the Middle East.

Susanna Traversa is a Master's degree student in “Public policies and administration,” Department of Political Science, University of Genoa, Italy. Her research interests mainly focus on statistics, digitalization processes, digital evolution of the public sector, and social conditions.

José G. Vargas-Hernández, PhD, is currently a Research Professor at the Postgraduate Studies Division, Tecnológico Mario Molina Zapopan Unit, Mexico. He has a long career in Administrative and Management Sciences having more than 200 articles published in different journals, books, and reports.

Serhat Yuksel, PhD, is an Associate Professor of Finance at Istanbul Medipol University, Istanbul, Turkey. He has more than 80 scientific articles and some of them are indexed in SSCI. He is also editor of many books published by Springer, Emerald, and IGI Global.

Foreword

The book you are now beginning to read deals with a wide range of topical issues that affect the everyday life of every inhabitant of planet earth. The worldwide expansion of interrelated economies is not a new historical phenomenon, but what characterizes today's globalization is its rapid pace and complex nature. For example, as we can see these days, the difficulties in logistics that occur in some countries have far-reaching repercussions on all the countries of the world, precisely because of the intertwining of their respective economic systems. The pervasiveness and speed of the phenomenon have strong repercussions on, among other things, income distribution and the environmental sustainability of development. In this book, an international team of researchers addresses these issues with reference to territorial realities on all continents, using both a theoretical and empirical approach. The book carefully analyzes, also in empirical terms, the sustainability and human development of countries and groups of countries, tests the theory of endogenous growth and the classic Gerschenkron hypotheses, and verifies convergence processes. Particular attention is then paid to distributional inequality, the digital divide, and the effectiveness of monetary and fiscal policies, with studies applied to very different countries or groups of countries, from a small open economy in Africa to European countries, the BRICS, and other cases. Among the conclusions that can be drawn, the dramatic relationship between poverty, inequality, and unsustainable development emerges very clearly. The common feeling that very poor communities cannot afford to go down the road of so-called “ecological transition” is confirmed by these analyses. Also political aspects, such as nationalism, populism, etc., are taken into account, looking at their negative effects on the processes of globalization; the “political economy” approach is present here, with interesting insights. Through careful scientific reflection, the possible correlation between the adverse effects of the ongoing pandemic and air pollution is also discussed. Several studies contained in the book are related to the Indian economy and society: this, given the size and complexity of this country, makes them of particular interest because, through the examination of individual realities, it is easy to understand phenomena that have a global dimension.

The editor of the volume, Dr Ramesh Chandra Das, has compiled all the studies in a sophisticated manner to exhibit the issues with the rapid globalization process. The stakeholders are expected to reap benefits in their respective fields by following the volume.

Riccardo SOLIANI, PhD

Professor of Economics

Department of Political Sciences, University of Genoa, Italy

Riccardo SOLIANI, PhD in Economics at the University of Rome “La Sapienza,” teaches History of Economic Thought and Economics at the Department of Political Sciences, University of Genoa, Italy, and is a member of the Board of the Doctoral School in Economics and Political Economy. Since 2017 he has joined the “Laboratoire TRIANGLE – Action, discours, pensée politique et économique,” Lyon, France.

Acknowledgment

It is now an immense pleasure to say that the proposed book on Globalization, Income Distribution and Sustainable Development – a theoretical and empirical investigation has been eventually exhumed. The ultimate success of developing such a huge volume of the edited book could not be accomplished if the contributions of the concerned strings of academicians all around the world were not assembled particularly when the entire work was managed from a rural belt of the Indian subcontinent. Hence, it will be blameworthy if I do not acknowledge the contributions of the concerned academicians and other members of the society associated to the project.

First, I acknowledge the Emerald Publishing Ltd. team for approving the proposal and continuously guiding me at all stages of development of the book. Second, I am grateful to my research guides (formerly) Professor Soumyen Sikdar of Indian Institute of Management, Calcutta, India, and (formerly) Professor Sarmila Banerjee of Calcutta University, India, for persistently encouraging me to undertake such types of projects. Third, I recognize the support of Professor Riccardo Soliani, University of Genoa, Italy, in writing a well-communicative foreword for the book. Fourth, I honor all the contributing authors for their valuable chapter contributions and showing their patience for such a long-duration project coming into veracity. I must admit the values they added to the existing literature through this edited volume.

Last but not the least I am indebted to my parents, wife and daughter, and other members of the family for their continuous encouragement, support, and sacrifice in carrying out this long-lasting project. Of course, no one but me, the editor, is completely responsible for the remaining errors, if any, still appear in the book.

Ramesh Chandra Das

Editor

Prelims
Introduction
Section I Linkages among Globalization, Income Distribution, and Sustainable Development in Groups of Economies
Chapter 1 Globalization, Income Inequality, and Wealth Disparity: Issues and Evidence
Chapter 2 On Dynamics of Economic Development in the Light of Endogenous Growth: A Theoretical and Empirical Investigation
Chapter 3 Globalization and Sustainable Economic Development: Evaluating Country Performances through Composite Rankings
Chapter 4 Are Cross-Country per Capita Income Differential and Globalization Cointegrated? An ARDL Bounds Testing Approach
Chapter 5 A Comparison of Convergence among Developed and Developing Economies in a Globalized World
Chapter 6 Globalization with Controlled Income Inequalities: A Cross-Country Study
Chapter 7 The Importance of Carbon Emission of Manufacturing Companies on Sustainable Economic Development
Chapter 8 Measuring Sustainable Development at the NUTS2 Level: Differences and Future Prospects
Chapter 9 Rural Nonfarm Income Diversification: Implications on Tree-Crop Agricultural Sector Inequalities and Sustainable Development in Ghana
Chapter 10 Dynamic Linkages among Stages of Economic Development, Human Development and the Natural Environment: On the Road towards Sustainability in the Globalization Era
Chapter 11 The Issue of Sustainable Urbanization in BRICS Nations: An Impact-Analysis of Urban Energy Consumption and Carbon Emission
Chapter 12 Assessing and Rethinking Sustainable Development and Globalization from the Aspects of Income Distribution and Labor
Chapter 13 Determinants of Depletion of Natural Resources across Countries: An Empirical Study
Chapter 14 Nationalism and Populism as the Driving Forces of Economic Deglobalization, Regionalism, and Localism Processes
Section II Aspects of Growth and Convergence of Socioeconomic and Environmental Indicators at Country Levels
Chapter 15 Did Overseas Development Assistance Improve Developmental Goals and Climate Resilience in Fiji?
Chapter 16 Economic Growth at the Cost of Carbon Emission: Empirical Evidence from India
Chapter 17 Achieving Post-Carbon Transition and Environmental Justice to Reduce Environment Footprint of the Construction Industry and Support Sustainable Development
Chapter 18 Eco-Environment Friendly Cost-Effective Synthesis for Sustainable Human Development in Context of Globalization
Chapter 19 Convergence Perspective of Growth in India
Chapter 20 Measuring the Digital Gap in Italy: A NUTS-2 Level Index
Chapter 21 Dynamic Effects of Manufacturing and Service Sector on Economic Growth in India: A Cross Section Analysis from Selected Indian States
Chapter 22 Impact of Globalization on Sustainable Transport Development in the Context of Trade in India
Chapter 23 Impact of Globalization to Sustainable Development Goals: A Study of the State Tripura
Chapter 24 Financial Inclusion and Income Growth: A District Level Study of West Bengal during the Post-Globalization Era
Chapter 25 A Threadbare Study towards Indian Regulatory Reforms for Gender Equality in Workplace in Adherence to the Trends of Globalized Business Environment
Index
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