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The relationship between man and nature varies with different stages of the development of human society. The destructive consequences brought about in the early stage of industrialization sparked serious concerns about ecological and environmental issues.

The worldwide controversy aroused by The Limits to Growth published in 1972 made people realize that the carrying capacity of the ecosystem was limited, as were the resources. In the long run, scientific and technological progress can constantly discover new energy and resources.

However, in every specific stage of human society, the energy and resources crises are always a severe challenge that human beings should face. It is the core contents of sustainable development to change the old economic growth model and explore a new economic growth model.

The relationship between man and nature is one of the most fundamental relationships in human society and economic development. How to deal with it is also one of the most fundamental issues in human society and economic development. From the perspective of the historical process of human society, the relationship has roughly gone through the following stages.

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

This paper discusses the urban management challenges in the Greater Kuala Lumpur area. Before examining Greater Kuala Lumpur's economic and social environment, we will look at the factors that make it a competitive and fiscally sound entity. When considering urban development and redevelopment, we consider how proposed and ongoing projects, as well as plans, hierarchical links, and road networks, contributed to the increase. Because there is no urban growth boundary, land use change and rural encroachment, as well as environmental degradation and the impact of national economic projects on urban expansion, are both rapid and linear in the analysis. This paper also considers how to manage linear development that results in the creation of new suburbs. Finally, we propose strategies for achieving sustainable urban expansion and management by balancing the financial and governance capacities of Greater Kuala Lumpur local governments.

This paper aims to discuss the evolution of the Egyptian banking sector and the main trends in financial development in Egypt. The purpose of this study is to examine empirically the relationship between the development of the financial sector and economic growth in Egypt between 1980 and 2016.

The paper draws comparisons based on critical financial indicators between Egypt and selected emerging markets and developing economies. It uses a new data set of financial development indexes released by the International Monetary Fund. This paper uses econometric time series modelling of bivariate regressions for real growth per capita and measures of financial development to assess the relationship between financial development and economic growth in Egypt.

There are three specific findings based on the empirical analysis. First, there is a strong association between real growth per capita and financial development measured by money supply to GDP. Second, access to and the efficiency of banking services are not associated with real per capita income. Third, the Financial Markets Access Index – which compiles data on market capitalization outside of the top ten largest companies and the number of corporate issuers of debt – indicates a robust association with real per capita GDP.

The paper uses advanced empirical investigation techniques and new data sets available to assess the critical relationship between finance and growth in Egypt. The main policy implications of the empirical results of this paper suggest a stronger focus on promoting a more proactive role for the financial services industry in Egypt. In particular, there is a critical role for bank financing to support the private sector to maintain an inclusive growth momentum. Further development of the capital market will promote sustainability of such economic growth.

This paper aims to examine the causation linking financial technology to economic growth in the East African Community states from 1997 to 2019.

Autoregressive distributed lag is used. Gross domestic product per capita proxies economic growth, automated teller machines, point of sale, debit card ownership and mobile banking measure financial technology.

The results unveil a significant relationship between financial technology and economic growth. The findings show bidirectional causality between automated teller machine and economic growth, with unidirectional causation from economic growth to point of sales and internet banking, mobile banking and government effectiveness to economic growth. The error correction term is negatively significant, demonstrating a long-term convergence between Fintech measures and economic growth.

The governments should effectively enact and implement policies that protect investments in financial technologies to boost economic growth in the East African Community countries. The government should reduce taxes on financial technology equipment and related services. The use of automated teller machine, debit card ownership and internet banking should be encouraged through cashless transactions. Financial institutions should adopt cashless operation policies to encourage the use of financial technologies.

Research results on the bond between financial technology and economic growth are not conclusive. These studies demonstrate that technological innovations are double edged-swords, with both positive and negative sides. The results are conflicting; some reveal positive relationships, while others show negative links. Hence, research is required to fill the lacuna.

The neo-Kaleckian model follows the ideas of Marx, Keynes and Kalecki, that investment is a key influencing factor in the dynamics of the capitalist mode of production. Through the discussion of different forms of investment decision function, this paper constructs the analysis framework of wage-led and profit-led economic growth regimes.

The model has become an important theoretical paradigm for current Western heterodox economists regarding the research on the impact of functional income distribution on economic growth, and it has a very large impact on both theoretical and empirical research. Starting from Marx's reproduction theory, this article discusses the theoretical shortcomings of the neo-Kaleckian growth regime model.

This paper mainly focuses on three aspects: (1) the ideological legacy of “Smith's Dogma”; (2) neglecting the restrictions on income distribution from the organic composition of capital and the surplus value rate; (3) technological progress and the formation of a new long economic wave.

The authors believe that the neo-Kaleckian model unilaterally emphasizes the demand-side factors in the economy and, unconsciously or not, ignores the role of the supply-side, which makes it encounter certain limitations in explaining long-term growth. Even if some empirical conclusions are employed to bridge functional income distribution and technological progress, there is still a lack of a theoretical basis for accurately describing long-term economic changes using this model. In order to better promote high-quality economic development and accelerate the formation of a new pattern of economic development in which the domestic large-scale cycle is the mainstay and the domestic and international double cycles promote each other, the authors need to adopt a policy combination with the supply-side as the main and the demand-side as the supplement, and to work from both sides.

The purpose of this paper is to examine the correlation between firm size, growth and profitability along with other firm-specific variables (like leverage, competition and asset tangibility), macroeconomic variable (like GDP growth-business cycle) and stock market development variable (like MCR).

Using the COMPUSTAT Global database this work uses panel dynamic fixed effects model for nearly 12,001 unique non-financial listed and active firms from 1995 to 2016 for 12 industrial and emerging Asia–Pacific economies. This interrelationship was also examined for small, medium and large size companies classified based on three alternate measures such as total assets, net sales and MCR of firms.

The persistence of profits coefficient was found to be positive and modest. There is evidence of a negative size-profitability and positive growth-profitability relationship suggesting that initially profitability increases with the growth of the firm but eventually, overtime, gains in profit rates reduce, as size increases indicting that large size breeds inefficiency. The relationship between firm's leverage ratio and its asset tangibility is found to be negative with profitability. The business cycle and stock market development variables suggest a positive relationship with the profitability of firms. However, the significance of estimated coefficients was mixed and varied among different selected Asia–Pacific economies.

The study has economic implications on issues such as industrial concentration, risk and optimum size of firms for practicing managers of modern enterprise in emerging markets.

The analysis of the relationship between the firm size, growth and profitability is uniquely determined under a dynamic panel fixed effects framework using firm-specific variables along with macroeconomic and financial development determinants of profitability. This relationship is estimated for a large and new data set of 12 industrial and emerging Asia–Pacific economies.

本研究擬探討公司的規模、成長和盈利能力之間的關係， 同時亦涵蓋公司特有的其它變量 （如愩杆作用， 競爭和資產的有形性）， 宏觀經濟變量 （如國內生產總值增長與景氣之循環）， 以及股市發展變量 (如MCR) 。

本研究以COMPUSTAT 全球資料庫、使用動態面板固定效應模型，涵蓋幾近12001間獨特的、非金融上市及活躍的公司、覆蓋期由1995年至2016年，涉及12個工業及新興的亞太經濟體。這相互關係分析研究亦於大、中及小型企業內進行，而這些企業就規模方面的分類是基於三個交替的測量而釐定的，如總資產、銷售淨額、以及企業的MCR。

研究發現、利潤係數的持續性是正且適中不強的。有證據顯示、規模的大小與盈利能力是負相關的，而增長與盈利能力則為正相關；這暗示盈利能力初時會因企業的成長而增強，但隨著時間的推移最终當規模增大、利潤率的增長會下降，這提示我們：大的規模會導致效率低下。企業的杠桿比率與其資產有形性的關聯被發現與盈利能力成負相關。經濟週期及股市發展變量暗示與企業的盈利能力之關聯為正相關。唯估計係數的意義會因被挑選之各個不同亞太經濟體而有異和不統一的。

本研究對在新興市場的現代企業內工作的業務經理有其實際作用，因研究為他們在業務問題如產業集中度、危機、公司的最佳規模等問題上提供了經濟方面的啟示。

本研究分析公司規模、成長與其盈利能力的關係時，獨特之處是採用了動態面板固定效應模型，並於應用盈利能力的宏觀經濟和金融發展的決定因素的同時，也使用了企業特有的變量。而這關係的分析研究涵蓋12個工業及新興的亞太經濟體的龐大且新的數據集。

This concluding chapter summarizes the critical insights that changemakers ought to consider in their attempt to lead and manage cocreation processes and enhance their impact. The chapter also addresses three crucial challenges to the advent of a sustainable future: the need to rethink the assumptions of mainstream economics, the need to secure political stability in times of rapid societal change; and the demand for the deepening democracy. Finally, the chapter argues that local efforts to build a sustainable future will only succeed if key economic, political, and democratic challenges are effectively dealt with at the global and national levels.

This study investigated the impact of economic growth on carbon emissions on selected West African countries between 1980 and 2019. Simon-Steinmann's economic growth model provides the relevant theoretical foundation. The main objective of this study was to ascertain whether economic growth will impact carbon emissions.

The study selected six-sample countries in West Africa and used secondary data obtained through the World Bank Group online database covering the period 1980–2019, employing panel econometric methods of statistical analysis.

The outcome indicates that the independent variable showed a positively significant impact on the dependent variable for the pooled samples in the short-run, with significant cointegration.

The study concluded that economic growth significantly impacts the emissions of carbon, and a 1% rise in economic growth will result to 3.11121% unit rise in carbon emissions.

Policy implementation should encourage the use of energy efficient facilities by firms and government and the establishment of carbon trading hubs.

Failure by governments to heed the recommendations of this research will result to serious climate change issues on economic activities with attendant consequences on human health within the region and globally.

This is one of the comprehensive works on subject covering the West African region within the continent.

This paper aims to present a model to survey if effective destination management can manage (unsustainable) overtourism from the perspective of residents’ quality of life (QOL).

A constructivist approach, based on factors taken from conceptual overtourism model (Mihalic, 2020), was used to propose an overtourism QOL management model. Relationships among the factors were analysed with a path analyses model with two second-order latent factors. The model was tested in a real setting, the city of Ljubljana.

The proposed theoretical model is comprised of five factors: positive tourism impacts, negative tourism impacts, irritation with overtourism, residents’ QOL and destination management. Empirical tests confirmed the model. Positive tourism impacts positively affected residents’ QOL via destination management. Negative tourism impacts created overtourism-based resident irritation and negatively impacted their QOL.

The model was limited to one group of sustainable tourism stakeholders: residents of a destination. The sustainability performance of tourism was only assessed based on residents’ QOL.

The proposed model adds to the conceptual knowledge of tourism and may be useful for (sustainable) destination managers to monitor the existence and causes of overtourism and may help to focus efforts to manage the causes of overtourism irritation and improve residents’ QOL.

Overtourism is a concern for residents of tourism destinations who become irritated by unsustainable tourism impacts on community resources and their QOL. The suggested model is the first to address destination management’s ability to manage unsustainable overtourism.

本文采用建构主义的方法, 基于概念性的过度旅游模型（Mihalic, 2020年）中的因素, 提出了过度旅游中居民生活质量（QOL）管理模型。这些因子之间的关系是通过对包含两个二阶潜在因子的模型的路径分析得到的。该模型在卢布尔雅那市的真实情况中进行了测试。

本文提出了这样一个模型, 从居民的生活质量（QOL）角度出发, 调查有效的目的地管理是否可以管理（不可持续的）过度旅游。

理论模型由五部分组成：正面的旅游影响, 负面的旅游影响, 过度旅游带来的恼怒, 居民的生活质量和目的地管理。实证检验证实了该模型。积极的旅游业通过目的地管理对居民的生活质量产生了积极影响。负面的旅游影响造成了基于过度旅游的居民恼怒情绪, 并对其生活质量产生了负面影响。

该模型仅基于一个可持续的旅游业利益相关者：目的地居民。旅游业的可持续发展绩效仅根据居民的生活质量来评估。

社会和实际意义： 提出的模型增加了旅游的概念性知识, 并且可能有助于（可持续）目的地管理者监督过度旅游的存在和原因, 并且集中精力管理过度旅游引起的居民恼怒情绪, 并改善居民的生活质量。

对于旅游目的地的居民来说, 过度旅游是一个令人担忧的问题, 他们因不可持续的旅游业对社区资源及其生活质量的影响而感到不快。本模型是第一个解决目的地管理机构管理不可持续的过度旅游的能力的模型。

Para proponer un modelo de gestión del sobreturismo QOL, se utilizó un enfoque constructivista, basado en factores tomados del modelo conceptual de sobreturismo (Mihalic, 2020). Las relaciones entre los factores se analizaron con un modelo de análisis de rutas con dos factores latentes de segundo orden. El modelo se probó en un escenario real, la ciudad de Ljubljana.

En este documento se presenta un modelo para estudiar si una gestión eficaz del destino puede gestionar el exceso de turismo (insostenible) desde la perspectiva de la calidad de vida de los residentes (QOL).

El modelo teórico propuesto comprende cinco factores: impactos positivos del turismo, impactos negativos del turismo, irritación por el exceso de turismo, calidad de vida de los residentes y gestión del destino. Las pruebas empíricas confirmaron el modelo. Los impactos positivos del turismo afectaron positivamente la calidad de vida de los residentes a través de la gestión del destino. Los impactos negativos del turismo crearon una irritación de los residentes basada en el exceso de turismo y tuvieron un impacto negativo en su calidad de vida.

El modelo se limitaba a un grupo de interesados en el turismo sostenible: los residentes de un destino. El desempeño de la sostenibilidad del turismo sólo se evaluó en base a la calidad de vida de los residentes.

Implicaciones sociales y prácticas: El modelo propuesto contribuye al conocimiento conceptual del turismo y puede ser útil para que los gestores de destinos (sostenibles) vigilen la existencia y las causas del exceso de turismo y pueda ayudar a centrar los esfuerzos en la gestión de las causas de la irritación del exceso de turismo y mejorar la calidad de vida de los residentes.

El exceso de turismo es una preocupación para los residentes de los destinos turísticos que se irritan por los impactos insostenibles del turismo en los recursos de la comunidad y su QOL. El modelo sugerido es el primero que aborda la capacidad de la gestión del destino para gestionar el sobreturismo insostenible.