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This study focuses on the relationship between foreign direct investment (FDI) and economic growth of the formal sector comprising all foreign and domestic registered enterprises engaged in production of goods and services.

This study uses a balanced longitudinal data set for the period from 2006 to 2014 from secondary sources in 63 provinces/cities of Vietnam. The generalized method of moments (GMM) estimation for a dynamic panel data model is applied.

The greater the share of FDI in capital resource, the more favorable the output growth in the whole formal sector. The FDI enterprises are more productive than domestic formal firms, and the output growth of FDI firms creates a positive spillover effect on the output growth of domestic firms.

The effect of FDI on economic growth is investigated at subnational level for the whole formal economic sector as well as the formal domestic firms. The domestic and foreign industrial agglomerations and the business environment are also examined.

This chapter explores the influence of the banking and insurance sectors on the economic growth of Czechia, a nation with unique financial dynamics ideal for this study. Our aim is to ascertain the contribution of these financial institutions to economic growth, addressing the divergence in empirical findings that have marked this research area for decades. We scrutinise the impact of various factors, including sectoral development and the efficiency and stability of these institutions, all within the Czech context. Utilising the Granger causality test, we assess the role of several indicators related to the development of the banking and insurance sectors. Our findings reveal that in Czechia, the evolution and operational efficiency of these financial institutions significantly drive economic growth. This study provides an in-depth understanding of the role these sectors play in the Czech economic landscape, affirming their crucial contribution to the nation's economic prosperity.

This article aims to evaluate the entry and exit of companies from local productive structures, with a specific focus on the sectoral complexity of these activities and the complexity of these portfolios. The study focuses on empirically demonstrating the thesis that related economic diversification exacerbates the development gap between more and less complex regions.

The article uses indicators formulated by the economic complexity approach. They allow a relevant descriptive analysis of the economic diversification process in Brazilian micro-regions and provide the foundation for the econometric tests conducted. Through three distinct estimation strategies (OLS, logit, probit), the influence of complexity and relatedness on the entry and exit events of firms from local portfolios is tested.

In all estimated models, the stronger relationship between an activity and a portfolio significantly increases its probability of entering the productive structure and, at the same time, acts as a significant factor in preventing its exit. Furthermore, the results reveal that the complexity of a sector reduces the probability of its specialization in less complex regions while increasing it in more complex regions. On the other hand, sectoral complexity significantly increases the probability of a sector leaving less complex local structures but has no significant effect in highly complex regions.

Due to the data used, the indicators are calculated considering only formal job numbers. Additionally, the tests do not detect the influence of spatial issues. These limitations should be addressed by future research.

The article characterizes a prevailing process of uneven development among Brazilian regions and brings relevant implications, primarily for policymakers. Specifically, for less complex regions, policies should focus on creating opportunities to improve their diversification capabilities in complex sectors that are not too distant from their portfolios.

The article makes an original contribution by proposing an evaluation of regional diversification in Brazil with a focus on complexity, introducing a more detailed differentiation of regions based on their complexity levels and examining the impact of sectoral complexity on diversification patterns within each group.

The purpose of this study is to explore how the unprecedented rise in the economic policy uncertainty influence Indian banking sector stability. The unprecedented rise in the economic policy uncertainty during the recent pandemic has garnered the attention of policymakers to investigate its consequences on different sectors of the economy.

In this quest, the present study uses system generalized method of moments and other econometric tools to examine the influence of economic policy uncertainty on the Indian banking sector, covering the time frame from 2000 to 2022. In addition, the current study also investigates the mediating role of regulation and supervision in the nexus of economic policy uncertainty and the Indian banking sector stability.

The empirical outcome reveals that economic policy uncertainty negatively influences banking stability. However, when economic policy uncertainty interacts with stringent banking regulations, private monitoring and supervisions, it assists in diversifying the negative impact of economic policy uncertainty on the Indian banking sector stability.

To the best of the author’s knowledge, the study is an original work and provides robust estimates that will assist policymakers in understanding the influence of policy uncertainty on the banking stability. Moreover, the study also helps in understanding the role of supervision and regulation in mitigating the negative consequences of policy uncertainty on the banking stability.

The purpose of this study is to use the structural model to determine the influence of mobile telecommunication on Egypt’s economic growth from 2000 to 2009. By focusing on mobile unique subscribers and mobile broadband-capable device penetration as indicators of telecommunications adoption, the authors seek to understand their overarching effects on the nation’s economic landscape.

The paper uses quarterly time-series data set over the period 2000–2019 and uses a structural econometric model based on an aggregate production function, a demand function, a supply function and an infrastructure function to detect causality and examine long-run relationships between variables.

The findings of the structural model reveal that both mobile unique subscribers and mobile broadband-capable device penetration significantly contributed to Egypt’s gross domestic product (GDP) growth from 2000 to 2019. Specifically, a 1% increase in mobile unique subscriber penetration and mobile broadband-capable device adoption is estimated to result in an average annual contribution to GDP growth of 0.172% and 0.016%, respectively.

The scarcity of panel data is the main research limitation for comparative study with other Middle East and North African Region (MENA) countries. Research extensions would include testing the significance of complementarities such as improving governance measures and building human capacity for both households and firms, which are necessary to boost the impact of telecommunication on economic growth in the MENA region.

Based on these findings, the study puts forth policy recommendations aimed at maximizing investment in network utilization, including mobile and internet services, as well as fixed broadband subscriptions. It highlights the crucial role of these investments in promoting social and economic development, not only in Egypt but also across the MENA region as a whole.

The findings of this research emphasize the importance of strategic investments in network utilization, encompassing mobile, internet services and fixed broadband subscriptions. Such investments are pivotal for fostering social and financial inclusion. The study underscores the potential of these investments to drive social and economic progress, not just within Egypt but throughout the entire MENA region.

Overall, existing literature generally supports the notion that the telecommunications sector has a positive economic impact. However, there is a gap in the literature when it comes to understanding the specific effects of the Egyptian telecommunications sector on the country’s economy, particularly in relation to the Egypt Vision 2030. The study aims to fill this gap by focusing specifically on Egypt and providing additional insights into the direct and indirect effects of the Egyptian telecommunications sector on the economy. By conducting a thorough analysis of the sector’s role, the authors aim to contribute to the existing literature by providing context-specific findings and recommendations.

The construction sector (CNS) occupies a very unique position in any economy depending on whether developed or developing economy. The size and linkages of the CNS are expected to be high to help push or pull the economy from developing to developed economy through elaborate forward and backward linkages, a cardinal aim of developing economies. This paper aims to investigate the forward and backward linkages of the CNS in the Nigerian economy.

In contrast to the traditional input–output analysis to assess sectoral economic performance and production interdependence, this paper used econometric techniques, including unit root test, cointegration test and Granger causality test to analyze the data. Time-series data (TSD) for the study were extracted from United Nations Statistical Department database.

The result indicated that the CNS has low forward linkages but high backward linkages to virtually all the sectors of the Nigerian economy. Thus, the outputs of construction mainly satisfy the manufacturing and other activities.

The paper gives an insight into the construction on backward linkages but less extensive forward linkages. The paper recommends a massive local content development of sector to deepen backward and forward linkages and thus helps pull or push weak sectors out of stagnation.

This study aims to investigate the effect of the tourism sector on employment in 13 Mediterranean countries. In addition, the impact of economic growth and inflation rate, which are included in the analysis as control variables, on the employment rate are investigated.

For this study, data from 1995 to 2018 and the ratio of the employed population, the number of international tourist arrivals, the annual growth rate of real gross domestic product (GDP) and the annual percentage change in the Consumer Price Index (CPI) were used. First, the authors investigated the relationship between variables using the Autoregressive Distributed Lag (ARDL) Bounds Test with Sharp and Smooth Breaks. Then, after determining the significant cointegration relationship, the long-term and short-term coefficients were also estimated.

The results show a cointegration relationship for Cyprus, Greece, Israel, Malta and Tunisia. Tourism demand has a positive effect on all these countries and economic growth positively affects the employment rate only in Greece, Israel and Tunisia. Besides, the inflation rate has a negative effect in Israel and Tunisia and a positive effect in Malta. Overall, the authors' results provide important policy suggestions, such as the training of the employees in the tourism sector should be improved to keep up with the requirements of the times.

The impact of the tourism sector on total employment varies from country to country. In particular, the employment creation policies of the sector need to be changed by taking technological changes into consideration.

Since tourism is a labor-intensive sector, tourism's impact on employment is an important research topic. However, whether this effect applies to all countries is debatable. Furthermore, the development of technology can also reduce employment in labor-intensive sectors. Therefore, this research can be regarded as important as this research addresses such a critical current issue and suggests a novel econometric method such as the ARDL Bounds Test with Sharp and Smooth Breaks.

The COVID-19 pandemic severely impacted tourism, and the hotel and restaurant industry was the most affected sector, which faced issues related to business uncertainty and unemployment during the crisis. The analysis of recovery time and the influence factors is significant to support policymakers in developing an effective response and mitigating the risks associated with the tourism crisis. This study aims to investigate numerous factors affecting the recovery time of the hotel and restaurant sector after the COVID-19 crisis by using survival analysis.

This study uses the quarterly value added with the observation time from quarter 1 in 2020 to quarter 1 in 2023 to measure the recovery status. The recovery time refers to the number of quarters needed for the hotel and restaurant sector to get value added equal to or exceed the value added before the crisis. This study applies survival models, including lognormal regression, Weibull regression, and Cox regression, to investigate the effect of numerous factors on the hazard ratio of recovery time of hotels and restaurants after the COVID-19 crisis. This model accommodates all cases, including “recovered” and “not recovered yet” areas.

The empirical findings represented that the Cox regression model stratified by the area type fit the data well. The priority tourism areas had a longer recovery time than the non-priority areas, but they had a higher probability of recovery from a crisis of the same magnitude. The size of the regional gross domestic product, decentralization funds, multiplier effect, recovery time of transportation, and recovery time of the service sector had a significant impact on the probability of recovery.

This study contributes to the literature by examining the recovery time of the hotel and restaurant sector across Indonesian provinces after the COVID-19 crisis. Employing survival analysis, this study identifies the pivotal factors affecting the probability of recovery. Moreover, this study stands as a pioneer in investigating the multiplier effect of the regional tourism and its impact on the speed of recovery.

Despite a large volume of theoretical and empirical research, defining the ‘entrepreneur’ and ‘entrepreneurship’ within the cultural and creative sector, a sector with high heterogeneity in organisational and other aspects across its various segments remains challenging. In this regard, there should be a wide variety of differences in the characteristics and challenges of cultural entrepreneurs across industries, countries and regions. Nonetheless, the key role of the arts and cultural sector has increasingly piqued the interest of policymakers and the private sector, and it has been recognised for its importance within the South African economic landscape; as a result, the government has prioritised arts and culture as a pillar in their development strategies. Furthermore, while there has been some consensus over the past decade on what constitutes a creative industry, many questions about defining arts and cultural entrepreneurship still need to be answered, necessitating further definitional and policy coherence. As a result, some efforts at definitions are required to advance the sector and develop useful knowledge in policy formulation.

This chapter proposes an understanding of arts and cultural entrepreneurship as an exploration of a person, a community or a network's artistic resources (arts, creative and cultural) in value creation. It utilises meta-analysis, a non-empirical method, to review and analyse the existing literature. Further research is needed to investigate and evaluate the efficacy of established arts incubators, and the extent to which perceived entrepreneurial competencies affect organisational performance. Moreover, additional research is required to examine the entrepreneurial factors inhibiting or stimulating the influence on start-up financing (capital acquisition) in the South African arts and cultural industry.

The development of higher learning institutions (HLIs) is considered a strategy to trigger urban space development – and it is the economy in most developing countries. HLIs can develop and maintain pace with the experience economy in the current urban economy, particularly in the services sector. This paper seeks to evaluate the influence of HLIs on elements of the experience economy in the urban services sector in Bandar Baru Bangi (BBB), a knowledge-based city.

The research adopted a purposive sampling technique and engaged 382 urban community respondents in BBB, Malaysia. The study used four elements (education, gastronomy, health, and the retail sectors) to assess the experience economy performance.

The results show that the local community is the “active users” of the services, and the active users have enjoyed the existence of the experience economy. Findings reveal a preference for education and health over gastronomy and retail sectors. Of these four sectors, the education sector experience had the most prominent effect, thereby showing that the higher learning institutions around this city served a major role in the sector development of urban services.

The research used a purposive sampling method and engaged 382 respondents in BBB, Malaysia. The restriction of the study area to BBB is a limitation component. Future studies should explore a large-scale investigation to evaluate better and validate the results.

The research has shown that the city's higher education institutions have affected the development of the experience economy in the four sectors.

The study shows that the framework of the experience economy and the establishment of HLIs can stimulate the experience economy within the urban services sector.