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1 – 10 of over 89000Galina N. Semenova, Elena I. Larionova, Oleg G. Karpovich, Sergei V. Shkodinsky and Fatima M. Ouroumova
The purpose of the work consists in studying social integration as a factor of economic growth. The authors focus on experience and perspectives of developing countries, as they…
Abstract
Purpose
The purpose of the work consists in studying social integration as a factor of economic growth. The authors focus on experience and perspectives of developing countries, as they show the highest rate of economic growth and have high potential of its acceleration.
Design/methodology/approach
The authors determine the interconnection between the processes of social integration in the four distinguished manifestations with the help of regression analysis and determine the level of homogeneity of data selections for each studied indicator with the help of variation analysis. Scenario analysis of future perspectives of the change of economic growth depending on the influence of the factor of social integration in the unity of its distinguished types is performed. Monte Carlo method is used for forecasting of change of the values of indicators of social integration.
Findings
It is substantiated that social integration is an important factor of economic growth. At the same time, the influence of this factor on economic growth of developing countries is ambiguous. Due to the offered proprietary classification of social integration according to the criterion of involved subjects, it is possible to establish that such types of social integration as integration of social groups, integration of business and society and integration of state and society have a positive influence. However, individual's integration into society has a negative influence.
Originality/value
The research contributes to development of economics by substantiating the significance of the social integration factor for economic growth and specifies the logic of management of this factor, which should be flexible. The perspectives of developing countries in acceleration of the rate of economic growth based on managing the factor of social integration are rather wide and envisage the increase of society's inclusion and the level of consumer consciousness and more active involvement of population into state management in the digital economy.
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Aleksei V. Bogoviz, Svetlana V. Lobova and Alexander N. Alekseev
The purpose of the research is to determine the current contradictions and perspectives of convergence of social development and economic growth for the purpose of formation of…
Abstract
Purpose
The purpose of the research is to determine the current contradictions and perspectives of convergence of social development and economic growth for the purpose of formation of the scientific and methodological basis of targeted and efficient state regulation of these processes, which would allow for their harmonization and systemic acceleration.
Design/methodology/approach
The authors use correlation analysis for calculating the correlation of the rate of economic growth (according to the forecast of the IMF) and the indicators of qualify of life, calculated by Numbeo, and the index of economy digitization, calculated by the IMD. The research is performed based on the 2020 data. On the basis of the established dependencies, the authors use the method of hierarchy analytics of T.L. Saaty for determining the contribution of social development into economic growth.
Findings
The authors substantiate the existence of close interconnection between social development and economic growth and determine substantial differences in this interconnection in developed countries (correlation – 52%), where only purchasing power of population and society's digitization contribute into acceleration of economic growth, and in developing countries (correlation – 48%), where quality of life, environment protection, living standards and society's development level contribute to acceleration of economic growth.
Originality/value
It is proved that in the course of the increase of the level of social development, it contradicts economic growth – due to which the possibilities of state regulation of the interconnection of these processes are limited. The authors develop a conceptual model of convergence of these processes through the prism of phases of the economic cycle. The compiled model reflects the authors' recommendations at each phase of the economic cycle, due to which state regulation of socioeconomic development will become targeted and efficient.
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Imran Abbas Jadoon, Raheel Mumtaz, Jibran Sheikh, Usman Ayub and Mohammad Tahir
The international institutions, policymakers and governments are promoting green growth as a policy objective for global financial stability (FS) without sound empirical…
Abstract
Purpose
The international institutions, policymakers and governments are promoting green growth as a policy objective for global financial stability (FS) without sound empirical investigation. Therefore, the purpose of this study is to investigate whether the green economy would be successful in achieving its main objective i.e. stabilizing the world financial system because the investment stakes are too high for this green transition.
Design/methodology/approach
The study used the two-step system generalized method of moments (GMM) methodology on panel data of 90 countries for 6 years from 2010 to 2015 to investigate the impact of green growth economy on FS.
Findings
The results of the current study revealed that overall green growth enhanced FS in the country for both the short and long run. However, the social inclusive dimension of green growth was irrelevant in creating FS.
Research limitations/implications
The results of the current study validate the growth-led finance hypothesis and encourage the policymakers to strengthen the policy initiative for green growth. Because green growth mitigates economic and environmental risk to create a stable financial environment. However, social inclusiveness needs to be explored through alternate paradigm in relevance to FS.
Originality/value
As per the author’s knowledge, it is a pioneer study to empirically investigate the impact of green growth on FS which would be useful in understanding the green growth and FS dynamics.
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Fen‐May Liou and Cherng G. Ding
This study aims to explore the impact of the movement from “authoritarian democracy” to full democracy on the relationships between trust with economic growth and investment.
Abstract
Purpose
This study aims to explore the impact of the movement from “authoritarian democracy” to full democracy on the relationships between trust with economic growth and investment.
Design/methodology/approach
Simple regression models were applied to Taiwan as a case study.
Findings
Results indicate that: the direct effect of social trust on growth was significant regardless of the democratic power changeover; the indirect effect through fixed investment was significant only after the transfer of political power; and the direct effect of political trust on growth and the indirect effect through fixed investment were both significant only after the transfer of political power.
Research limitations/implications
The time span of the data used for the regression models in this paper is only ten years, which constrains the number of control variables used in the model.
Practical implications
This study indicates that the political regime plays as a contingency to the essay of social capital and economic growth.
Originality/value
This paper first provides a detailed investigation to specify the effects of social trust on economic growth during the first democratic power changeover.
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Mahyudin Ahmad and Stephen G. Hall
The purpose of this paper is to attest whether generalized trust variable is the best proxy for social capital in explaining the latter’s effect on economic growth in a panel…
Abstract
Purpose
The purpose of this paper is to attest whether generalized trust variable is the best proxy for social capital in explaining the latter’s effect on economic growth in a panel setting. Via a specially formulated theoretical framework, the authors also test whether the growth-effect of social capital is direct or indirect, and if it is indirect, can property rights be the link between social capital and growth.
Design/methodology/approach
The authors begin with testing the robustness of generalized trust variable in explaining the effect of social capital on growth and property rights. The authors then propose a number of trust-alternative variables that are shown to contain an element of trust based on theoretical arguments drawn from previous studies, to proxy for social capital and re-estimate its effect on growth and property rights. In this study, the authors use panel estimation technique, hitherto has been limited in social capital studies, which are capable of reducing omitted variable bias and time-invariant heterogeneity compared to the commonly used cross-sectional estimation.
Findings
First, the authors find that generalized trust data obtained by the World Value Survey (WVS) are unable to yield sufficiently robust results in panel estimation due to missing observations problem. Using the proposed trust-alternative variables, the estimation results improve significantly and the authors are able to show that social capital is a deep determinant of growth and it is affecting growth via property rights channel. The findings also give supporting evidence to the primacy of informal rules and constraints as proposed by North (2005) over the political prominence theory by Acemoglu et al. (2005).
Research limitations/implications
Generalized trust data obtained from the WVS, frequently used in majority of social capital studies to measure social capital, yield highly non-robust results in panel estimation due to missing observations problem. Future studies in social capital intending to use panel estimation therefore need to find trust-alternative variables to proxy for social capital, and this paper has proposed four such variables.
Originality/value
The use of panel estimation technique extends the evidence of social capital significance to economic growth and property rights, since the previous social capital studies rely heavily on cross-sectional estimation technique. Due to the availability of annual observations of the trust-alternative variables, this paper is able to find better results as compared to estimation using generalized trust data.
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The purpose of this paper is to analyze the social development situation in the Pacific Island countries (PICs). It also aims to present the various social and economic policies…
Abstract
Purpose
The purpose of this paper is to analyze the social development situation in the Pacific Island countries (PICs). It also aims to present the various social and economic policies that are directly linked to improving social indicators.
Design/methodology/approach
The paper draws on the theoretical framework provided by the United Nations Research Institute for Social Development, which defines social policy as involving redistribution, production, reproduction and protection. The paper presents data on these four components.
Findings
The paper shows that many PICs have managed to increase some of their social development indicators especially those relating to education. Yet they are also lagging behind on many fronts, such as health, water and sanitation, social protection, and inequality.
Research limitations/implications
Issues of state capacity and governance linked to policy formulation and implementation are not addressed in this paper. More in‐depth and empirical research could be undertaken to investigate the link between economic growth and social development.
Originality/value
This paper has the merit of being able to synthesize social and economic data for the PICs and compare it with other small island economies.
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It was not until the late 1960s that housing attracted much attention from academic social scientists. Since that time the literature has expanded widely and diversified…
Abstract
It was not until the late 1960s that housing attracted much attention from academic social scientists. Since that time the literature has expanded widely and diversified, establishing housing with a specialised status in economics, sociology, politics, and in related subjects. As we would expect, the new literature covers a technical, statistical, theoretical, ideological, and historical range. Housing studies have not been conceived and interpreted in a monolithic way, with generally accepted concepts and principles, or with uniformly fixed and precise methodological approaches. Instead, some studies have been derived selectively from diverse bases in conventional theories in economics or sociology, or politics. Others have their origins in less conventional social theory, including neo‐Marxist theory which has had a wider intellectual following in the modern democracies since the mid‐1970s. With all this diversity, and in a context where ideological positions compete, housing studies have consequently left in their wake some significant controversies and some gaps in evaluative perspective. In short, the new housing intellectuals have written from personal commitments to particular cognitive, theoretical, ideological, and national positions and experiences. This present piece of writing takes up the two main themes which have emerged in the recent literature. These themes are first, questions relating to building and developing housing theory, and, second, the issue of how we are to conceptualise housing and relate it to policy studies. We shall be arguing that the two themes are closely related: in order to create a useful housing theory we must have awareness and understanding of housing practice and the nature of housing.
The research on causes of economic performance has largely focused on economic factors. However, a simple focus on economic indicators cannot cause sustained equilibrium of…
Abstract
Purpose
The research on causes of economic performance has largely focused on economic factors. However, a simple focus on economic indicators cannot cause sustained equilibrium of economic performance. Social solidarity is of central importance in the fall or rise of a civilization. This study aims to analytically explore and empirically test the relationship of social capital with economic performance of the Muslim world using Islamic perspectives and an inclusive development approach.
Design/methodology/approach
This study uses a new index of “interpersonal safety and trust” to measure social capital. The empirical analysis is based on both cross-sectional and panel data methods of estimations.
Findings
The empirical findings of the study show that social capital is an important cause of economic performance in the Muslim world. The findings of the study are shown to be robust to different specifications, additional controls, econometric techniques and outliers.
Originality/value
To the best of the authors’ knowledge, this is first study of its kindly that analytically explores and empirically tests the relationship of social solidarity with economic performance of the Muslim world using Islamic perspectives.
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– The purpose of this paper is to highlight the dilemma of exponential growth in economic policy and its implications on sustainable development.
Abstract
Purpose
The purpose of this paper is to highlight the dilemma of exponential growth in economic policy and its implications on sustainable development.
Design/methodology/approach
The future of the world economy is premised in part on the assumption of an implicit law of increasing returns that has remained unchanged for centuries. Drawing on current data in per capita gross domestic product and population data, this paper explores the relationship between growth in populations and the distribution of wealth. Implications on economic and social policy reform are discussed, with an exemplar focus on economic incentives employed in several nations that are premised on an assumed relationship between population growth and economic return.
Findings
This paper demonstrates that much of current economic and social policy is grounded in centuries-old assumptions that may be inadequate for today's highly interrelated global and economic society, and that changing these policies would require a fundamental shift of mindset to recognise domestic human values within a global context.
Originality/value
Previous literature has paid less attention to the underlying assumptions of perpetual growth inherent to social and economic policy and the practicalities of its reconceptualization on global society.
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