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This paper investigates the effect of abnormal increase in credit supply on economic growth in Nigeria after controlling for the quality of the legal system, size of central bank asset, banking sector cost efficiency and bank insolvency risk.

The authors employ the generalised method of moments (GMM) regression methodology to estimate the effect of abnormal increase in credit supply on two measures of economic growth in Nigeria.

The abnormal increase in credit supply has a significant effect on economic growth. Abnormal increase in credit supply increases real gross domestic product (GDP) growth. The abnormal increase in credit supply decreases real GDP per capita during the global financial crisis. The abnormal increase in domestic credit to the private sector has a significant positive effect on GDP per capita when there is strong legal system quality in Nigeria. In contrast, the abnormal increase in domestic credit to the private sector has a significant negative effect on real GDP growth when there is strong legal system quality in Nigeria.

The abnormal increase in credit supply is ineffective in increasing GDP per capita during crisis years. Policymakers should be cautious in pressuring financial institutions to release an abnormally large amount of credit into the economy particularly during financial crises. Rather, policymakers should encourage financial institutions to supply credit in a sustained manner – not in an abnormal manner –and in a way that supports growth.

The present study contributes to the literature by analysing the effect of abnormal increase in credit supply on economic growth in a developing country context.

Efforts to reduce farmers' market risks and improve buyers' access to farm commodities have encouraged contract farming (CF) in Ghana's cashew sector in recent years. Consequently, the existence of CF shows that farmers who use it may be benefiting from it, as it is their economic responsibility to decide how to sell agricultural products. However, the magnitudes of these benefits or otherwise have been inadequately explored. This paper aims to empirically estimate the impact of CF on farm performance and welfare of smallholder cashew farmers.

The study used probit-two-stage least square (probit-2sls) as a primary estimator to account for self-selection bias and endogeneity that could arise from both observed and unobserved heterogeneities among farming households to estimate the causal effects of CF on farm performance and household welfare.

The results indicated that participation in CF contribute significantly to the gains in farm performance (price margins, yields and net farm revenue) and welfare (consumption expenditure per capita), and that the non-participants of CF would have benefited substantially if they had participated. An analysis of the farm size disaggregated into small, medium and large with regards to the outcome variables produces mixed results.

It can be concluded that participating in CF enhances farm performance and household welfare.

While many other studies do not account for changes in farm performance and welfare due to differences in farm size or other observed factors, this study fills a crucial void.

This study investigates (1) the effect of foreign direct investment (FDI) on total factor productivity (TFP) and economic growth dynamics and (2) the relevance of value added from three economic sectors in modulating the established effect of FDI on TFP and economic growth dynamics.

The geographical and temporal scopes are respectively 25 Sub-Saharan African countries and the period 1980–2014. The empirical evidence is based on non-interactive and interactive generalised method of moments.

The following main findings are established. First, FDI has a positive effect on gross domestic product (GDP) growth, GDP per capita and welfare real TFP. Second, the effect of FDI is negative on real GDP and TFP while the impact is insignificant on real TFP growth and welfare TFP. Third, values added to the three economic sectors largely modulate FDI to produce negative net effects on TFP and growth dynamics.

Policy implications are discussed with particular emphasis on the need to complement added value across various economic sectors in order to leverage on the benefits of FDI in TFP and economic growth.

To the best of the authors’ knowledge, this is the first study to assess how value added from various economic sectors affect the relevance of FDI on macroeconomic outcomes.

The purpose of this paper is to analyse the influence of economic growth, digitalisation, eco-innovation, energy consumption and patents on environmental technologies on the volume of greenhouse gas emissions (GHG) recorded in European countries for a period of nine years (2010–2018).

Two empirical methods were integrated into the theoretical approach developed based on the analysis of the current scientific framework. Multiple linear regression, an extended version of the OLS model, and a non-causal analysis as a robustness method, Dumitrescu–Hurlin, were used to achieve the proposed research objective.

Digitalisation described by the number of individual Internet users and patents on environmental technologies determines the amount of GHG in Europe, and economic growth continues to have a significant effect on the amount of emissions, as well as the consumption of renewable energy. European countries are not framed in well-established patterns, but the economic growth, digitalisation, eco-innovation and renewable energy have an impact on the amount of GHG in one way or another. In many European countries, the amount of GHGs is decreasing as a result of economic growth, changes in the energy field and digitalisation. The positive influence of economic growth on climate neutrality depends on its degree of sustainability, while patents have the same conditional effect of their translation into environmentally efficient technologies.

This study has a number of limitations which derive, first of all, from the lack of digitalisation indicators. The missing data restricted the inclusion in the analysis of variables relevant to the description of the European digitalisation process, also obtaining conclusive results on the effects of digitalisation on GHG emissions.

A similar analysis of the relationship among the amount of greenhouse gas emissions and economic growth, digitalisation, eco-innovation and renewable energy is less common in the literature. Also, the results can be inspirational in the sphere of macroeconomic policy.

The purpose of this study is to examine whether variation in franchising across US states can be explained by differences in state regulatory burdens.

Three years of US state-level panel data is used on measures of franchising activity published by the International Franchise Association. The authors measured variation in regulatory burdens across state governments using the regulatory freedom index, developed by the Cato Institute. Multiple regression analysis was the statistical technique used.

Controlling for state-level per capita personal income, educational attainment, unemployment and share of population identifying as non-white, the authors find states with fewer regulatory burdens for business owners have more franchises and franchise jobs per 100,000 residents, higher franchise output per capita and a larger share of small businesses are franchises. These results were robust to alternative econometric specifications. The results support our hypothesis that states with lower regulatory burdens will have more franchising activity.

Only three years of data are currently available; however, our research provides some practical avenues for managers and policy makers to explore when considering new franchise opportunities or developing policies that impact regulatory burdens for small businesses.

This study contributes to the literature by providing supporting evidence for the relationship between US state institutional factors and franchised small businesses, and it adds a cross-state study to the existing literature using cross-country and cross-city data.

While most efforts to combat climate change are focussed on energy efficiency and substitution of fossil fuels, growth in the built environment remains largely unquestioned. Given the current climate emergency and increasing scarcity of global resources, it is imperative that we address this “blind spot” by finding ways to support required services with less resource consumption.

There is now long overdue recognition to greenhouse gas emissions “embodied” in the production of building materials and construction, and its importance in reaching targets of net zero carbon by 2050. However, there is a widespread belief that we can continue to “build big”, provided we incorporate energy saving measures and select “low carbon materials” – ignoring the fact that excessive volume and area of buildings may outweigh any carbon savings. This is especially the case with commercial real estate.

As the inception and planning phases of projects offer most potential for reduction in both operational and embodied carbon, we must turn our attention to previously overlooked options such as “build nothing” or “build less”. This involves challenging the root cause of the need, exploring alternative approaches to meet desired outcomes, and maximising the use of existing assets. If new build is required, this should be designed for adaptability, with increased stewardship, so the building stock of the future will be a more valuable and useable resource.

This points to the need for increased understanding and application of the principles of strategic asset management, hitherto largely ignored in sustainability circles, which emphasize a close alignment of assets with the services they support.

Arguably, as the built environment consumes more material resources and energy than any other sector, its future configuration may be critical to the future of people and the planet. In this regard, this paper seeks to break new ground for deeper exploration.

Background: This study aimed to appraise the monetary value of human life losses associated with COVID-19 in Turkey. To our knowledge, it is the first study in Turkey to value human life losses associated with COVID-19.

Methods: A human capital approach (HCA) model was applied to estimate the total monetary value of the 4,807 human lives lost in Turkey (TMVHL) from COVID-19 by 15 June 2020. The TMVHL equals the sum of monetary values of human lives lost (MVHL) across nine age groups. The MVHL accruing to each age group is the sum of the product of discount factor, years of life lost, net GDP per capita, and the number of COVID-19 deaths in an age group. The HCA model was re-calculated five times assuming discount rates of 3%, 5%, and 10% with a national life expectancy of 78.45 years; and the world highest life expectancy of 87.1 years and global life expectancy of 72 years with 3% discount rate.

Results: The 4807 human life losses from COVID-19 had a TMVHL of Int$1,098,469,122; and a mean of Int$228,514 per human life. Reanalysis with 5% and 10% discount rates, holding national life expectancy constant, reduced the TMVHL by Int$167,248,319 (15.2%) and Int$ 429,887,379 (39%), respectively. Application of the global life expectancy reduced the TMVHL by 36.4%, and use of world highest life expectancy increased TMVHL by 69%. However, the HCA captures only the economic production losses incurred as a result of years of life lost. It ignores non-market contributions to social welfare and the adverse effects of economic activities.

Conclusions: Additional investment is needed to bridge the persisting gaps in international health regulations capacities, universal health coverage, and safely managed water and sanitation services.

International climate politics are gradually changing in terms of new and ground-breaking policies and decision-making spearheaded by national governments. The growing global demand to combat climate change reflects the current challenges the world is facing. India’s negotiations at United Nations Conference on Climate Change are based on “equity,” “historical responsibility” and the “polluter pays” agenda, until a shift in the voluntary reduction of carbon emissions takes place. The purpose of this study is to understand why India, a “deal breaker”, is seen as a “deal maker” in climate governance?

For a state like India, domestic preferences are equally important in introducing climate policies alongside its concerns over poverty reduction and economic development, which also stand with its sustainable development goals. This paper explains India’s decision-making using a two-level approach focusing on “domestic preferences.” This rationale is based on India’s historical background as well as new upcoming challenges.

This paper shows that India has both the domestic needs and long-term benefits of combating climate change to cut carbon emissions, which gives the responsibility primarily to domestic audiences and international societies.

This paper uses an international political lens to critically analyze India’s climate positions and politics from both domestic and international levels, demonstrating the importance of considering both short- and long-term goals. The outcome benefits not only the policymakers in India but also stakeholders in the Asia-Pacific and beyond.

This article investigates the impact of foreign trade on carbon emissions of the member countries of the largest trade bloc, the Regional Comprehensive Economic Partnership (RCEP).

The aggregate bilateral trade with members of RCEP during the period 1991–2020 was considered for analysis. The study also examines the impact of foreign trade (between member countries) on economic development, represented by GDP per capita. Dumitrescu–Hurlin panel Granger causality test was conducted to understand the impact of foreign trade on GDP per capita and carbon emissions.

Results indicate that though foreign trade is heterogeneously Granger causing GDP per capita, it also aggravates carbon emissions in RCEP bloc.

The study is of significance to the policymakers in the member countries as it provides evidence to include climate impact in trade agreements. The wealthier RCEP member countries can support the green transition of low-income countries through transfer of eco-friendly technologies.

This paper aims to examine the effects of corruption control on domestic investment in the BRICS and CIVETS of emerging economies. This paper’s primary goal is to investigate how corruption has impacted domestic private investment in BRICS and CIVETS, empirically evaluate that impact and offer appropriate policy recommendations.

This paper uses secondary panel data from the World Bank spanning the period 2000–2020. The data covered the BRICS and CIVETS countries between 2000 and 2020. This study used gross domestic product (GDP) per capita growth, broad money as a percentage of GDP, real interest rate and corruption index as independent variables and domestic investment as a percentage of GDP as a dependent variable.

The significant results are presented using the panel, autoregressive distributed lag pooled mean group estimator. Growth in the per-capita GDP, money supply and the suppression of corruption all have long-term, positive and significant benefits on domestic investment. Comparatively, the real interest rate has a significant negative influence on investment, indicating that it may be necessary and beneficial to adopt anti-corruption measures to promote domestic investment. However, the country-specific analysis reveals that the long-term effects of corruption on investment tend to vary across countries, indicating that each country needs to research the issue of corruption independently. Finally, ensuring optimal levels of money supply and interest rates leaded by further control of corruption is necessary for strengthening the investment environment.

This study suggests several practical implications. For example, legislators and policymakers should pay more attention to anti-corruption policies. Central banks should put more effort into controlling the interest rate.