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This study aims to examine the connection between political culture and public sector corruption, using the typology of Daniel Elazar, whose model traces the types of political cultures to their origins in various regions of England. Similarly, the “resource curse” concept, generally treated as a national-level phenomenon, is examined to assess how it might vary among jurisdictions within a country.

Regression analysis was applied to data from the 50 states of the US. Public sector corruption in each state was operationalized as the number of convictions by the Public Integrity Section of the US Department of Justice in relation to the number of public sector employees in that state.

Among the 50 states of the US, support was found for the association between political culture and public sector corruption. On the other hand, whether a state’s economy was dominated by natural resource extraction was not related to public sector corruption. This latter finding suggests the “resource curse” phenomenon does not cause corruption to be worse in states with resource-dependent economies.

Although it is appropriate to apply regression analysis to a data set of the 50 US states, the small size of the data set limited the number of predictor variables that could be examined. Alternative research approaches are discussed, and it is conceivable that another analytical technique might have revealed other predictors that affect the occurrence of corruption.

While numerous studies have examined the impact of political culture and resource orientation on corruption at the national level, the current study examines how these variables affect corruption at the level of subnational jurisdictions within a major developed country, the United States.

This study aims to evaluate the resource curse hypothesis in an oil-dependent economy, Saudi Arabia, through examining the impact of oil price volatility on foreign ownership among Saudi listed firms.

The study analyzes a unique data set of firm-level data on foreign ownership for the period 2009–2015. A multivariate regression model was applied to analyze the relationships under study.

The analysis reveals a negative association between oil price volatility and foreign ownership in firms with high leverage and low stock volatility.

Policymakers are encouraged to develop policies to control shocks in the supply and demand of oil and enforce economic diversification. Investors can better understand the dynamics of an oil-based economy stock market based on the investment behavior of foreign investors and their response to oil price shocks.

This study adds to the literature by analyzing the relationship understudy in an oil-rich and oil-dependent emerging economy, where its critical economic parameters are influenced by oil price volatility and it has the largest and the most liquid stock exchange in the MENA region.

The purpose of this study is to empirically examine the impact of natural resource rents on income inequality in Ethiopia from 1981 to 2022 and investigate whether investments in manufacturing moderate this relationship.

Dynamic autoregressive distributed lag simulation and Kernel-based regularized least squares (KRLS) models are used to analyses short- and long-run relationships, as well as the potential moderating role of manufacturing.

The bounds test indicates natural resource rents have a long-run positive effect on inequality but a short-run negative impact. The KRLS model finds manufacturing conditions for this linkage in the short run. In the long run, economic growth decreases inequality following an inverted Kuznets pattern, while government expenditures reduce disparities when directed at priority social services.

The findings provide mixed support for theories while highlighting nuances not fully captured without local analyses. Strategic sectoral investments may help optimize outcomes from resource dependence.

The results imply Ethiopia should prudently govern resources, productively invest revenues and prioritize social spending to equitably manage industrialization and uphold stability.

Reducing disparities through inclusive development aligned with empirical evidence could help Ethiopia sustain peace amid transformation and realize its goals of shared prosperity.

This study applies innovative econometrics to provide novel insights into Ethiopia's experience, resolving inconsistencies in the literature on relationships between key determinants and inequality.

The purpose of this study is to examine the relationship between the productive structure and the size of the informal economy in Latin American countries.

The study employs econometric techniques for panel data covering the period from 2002 to 2017 and considering 17 Latin American countries. The evidence presented is based on the informal economy data generated by Medina and Schneider (2018) who estimate the size of the informal economy using a structural equation model and the share of manufacturing in total employment as a measure of the size of the manufacturing sector. Also, the study addresses the possible endogeneity bias in the relationship studied and makes the conclusions more robust, thus avoiding spurious correlations that weaken the findings.

The results indicate that most industrialized Latin American countries are associated with a smaller size of the informal economy.

The findings have important policy implications, as they suggest that Latin American economies need to switch the structure of the economy toward more sophisticated productive structures if they want to reduce the size of the informal economy. Thus, more efforts should be deployed to policies to diversify and upgrade economies.

The study contributes to the literature on the informal economy by connecting the country’s productive structure and informality. Specifically, the results show that the productive structure of countries is a plausible explanation for the size of the informal economy.

This paper aims to investigate how emerging market multinational enterprises (EMNEs) are integrating and expanding into other emerging market host countries, focusing on Chinese mining companies in Peru.

Adopting a qualitative approach, an in-depth analysis of two Chinese state-owned enterprises’ strategies was conducted, building on stakeholder theory and the business ecosystem perspective.

This study reveals a reliance on high-level political lobbying rather than localized engagement strategies. However, findings point to increasing grassroots resistance among local stakeholders, undermining EMNEs’ bargaining power.

This paper argues for a paradigm shift toward inclusive, cooperative “translocal governance” approaches as empowered communities gain voice. Key contributions include advancing theoretical understanding of changing stakeholder relationships and power configurations in emerging countries, underscoring the rising significance of microlevel sociocultural embeddedness for MNE success and highlighting practical imperatives for EMNEs to embark on rapid localization strategies in Latin America. By elucidating multilayered integration realities in Peru, this interdisciplinary study yields contextualized insights and enriches perspective on the conditions and pathways for EMNEs to build sustainability in Global South emerging market environments.

Despite the huge financial resources associated with oil, Nigeria has consistently recorded poor growth performance. Therefore, this study aims to examine how corruption and oil rent influence Nigeria’s economic performance during the 1996–2021 period.

Various estimation techniques were used. These include the bootstrap autoregressive distributed lag (ARDL) bounds-testing, dynamic ordinary least squares (DOLS), the fully modified OLS (FMOLS) and the canonical cointegration regression (CCR) estimators and the Toda–Yamamoto causality.

The bounds testing results provide evidence of a cointegrating relationship between the variables. In addition, the results of the ARDL, DOLS, CCR and FMOLS estimators demonstrate that oil rent and corruption have a significant positive impact on growth. Further, the results indicate that human capital and financial development enhance economic growth, whereas domestic investment and unemployment rates slow down long-term growth. Additionally, the causality test results illustrate the presence of a one-way causality from oil rent to economic growth and a bi-directional causal relationship between corruption and economic growth.

Existing studies focused on the effects of either oil rent or corruption on growth in Nigeria. Little attention has been paid to the exploration of how the rent from oil and the pervasiveness of corruption contribute to the performance of the Nigerian economy. Based on the outcome of this study, strategies and policies geared towards reducing oil dependence and the pervasiveness of corruption, enhancing human capital and financial development and reducing unemployment are recommended.

Introduction: The notion of job losses during energy transition phases and their influences on fossil fuel economies have been debated in various aspects. Meanwhile, unemployment and poverty have been critical economic challenges for many developing countries, even the resource-rich countries in the Middle East. Concurrently, no country so far is poverty-free and has not entirely fulfilled Sustainable Development Goals (SDG) Nos. 1 and 8, as many resource-rich countries account for the significant global poverty and unemployment, such as Nigeria, Iraq, Yemen, and Venezuela.

Purpose: The issue of green transition has created new fears for the job market in the fossil fuel economies, where the lives of many people could be mainly affected. This study investigates the macroeconomic challenges of green transition and the macroeconomic consequences that fossil fuel economies will deal with.

Methodology: This study follows content analysis and a desk-search review of job loss during the green transition in the context of fossil fuel economies. In addition, the descriptive analysis is just a clear understanding of the fundamental review of the topic that will lead to another cross-country analysis study based on in-depth knowledge and analysing data.

Findings: The European Green Deal (EGD) will have profound economic, social, and political implications for fossil fuel-dependent economies for various reasons. First, fossil fuel economies are less diversified; the economy depends on a single commodity; the systems must be developed and people must prepare for a quick economic transition.

While the tourism–growth nexus is one of the better researched themes in both tourism and economics literature, there is limited evidence on how institutional quality affects this link, especially in the context of the developing world. To address this gap, this study aims to investigate the tourism-led growth hypothesis (TLGH) through the lens of institutional quality, drawing on evidence from African economies.

This study adopts a longitudinal design, involving panel data on 43 countries over an 18-year period, and the data were analyzed using the difference generalized method of moments model.

Results indicated that international tourism earnings contributed to economic growth in the selected economies. However, institutional quality negatively moderated the tourism–growth relationship on the continent, particularly in low-income economies, while reinforcing this link in middle-income countries.

This study provides new insights into how the TLGH varies across different levels of institutional quality and development.

虽然旅游业与经济增长之间的关系研究是旅游和经济领域中较为深入的主题之一, 但目前关于制度质量如何影响这种关系的研究仍然较少, 而以发展中国家作为研究对象的研究更为有限. 为了填补这一研究空白, 本研究从制度质量的角度出发, 以非洲国家为例, 深入探讨旅游业主导增长假说。

本研究采用纵向设计, 采集18年期间43个国家的面板数据, 并使用差异广义矩法 模型对数据进行分析。

研究结果表明, 国际旅游收入促进了所选经济体的经济增长. 然而, 非洲大陆的旅游业与增长关系受到制度质量的负向调节作用; 这种负面调节在低收入国家中更为明显, 但在中等收入国家制度质量却对旅游业与增长的关系起到了正向调节作用。

本研究创新性地研究了旅游主导增长假说 (TLGH) 在不同制度质量和发展水平下的不同表现。

Aunque el nexo entre turismo y crecimiento es uno de los temas mejor investigados tanto en la literatura turística como en la económica, existen pocas pruebas sobre cómo afecta la calidad institucional a este vínculo, especialmente en el contexto del mundo en desarrollo. Para abordar esta laguna, el presente estudio investiga la hipótesis del crecimiento impulsado por el turismo a través de la perspectiva de la calidad institucional, basándose en evidencias de las economías Africanas.

El estudio adopta un diseño longitudinal, con datos de panel sobre 43 países a lo largo de un periodo de 18 años, y los datos se analizaron utilizando el modelo de diferencias del Método generalizado de momentos.

Los resultados indicaron que los ingresos del turismo internacional contribuyeron al crecimiento económico de las economías seleccionadas. Sin embargo, la calidad institucional moderó negativamente la relación turismo-crecimiento en el continente, particularmente en las economías de renta baja, mientras que reforzó este vínculo en los países de renta media.

El estudio brinda nuevos conocimientos sobre cómo la hipótesis de crecimiento impulsado por el turismo (TLGH) varía en diferentes niveles de calidad institucional y desarrollo.

Among the topmost challenges, limiting the transformation of conventional public–private partnership (PPP) projects to meet net-zero targets is financial risk. This challenge is more prevalent in PPP projects in developing economies like Ghana, where financial investments have dwindled due to the recent COVID-19 recession. This paper aims to assess the key financial challenges in transitioning to net-zero PPP projects in Ghana.

The research method process was set as follows. First, a review of the literature to identify the major financial risks from journal articles, project reports and documents was undertaken, followed by questionnaire development and collection of data. Finally, the analysis of 134 questionnaire data was examined with the fuzzy synthetic evaluation.

The results indicate that the following financial challenges could hinder the transition to net-zero PPP projects in the country: increasing borrowing charges to build net-zero PPP projects due to the global covid-economic recession, poor project financial management, unstable local capital market and excessive labour, health and safety costs.

Although, the study was conducted in Ghana, a country in the Sub-Saharan African region, the outcomes have significant impacts for similar developing countries in research investigations into the problem.

Assistance is provided in this study for PPP project practitioners in identifying the key financial challenges and possible strategies to mitigate them.

Towards net-zero sustainability, this study highlights the crucial financial barriers to overcome in the rapid transition to climate change and zero carbon solutions in PPP projects.

This paper aims to analyze the time-varying dynamic connectedness among environmental, social and governance (ESG)-compliant firms, Fintech-based firms and artificial intelligence (AI) firm’s stocks.

To examine the spillover from globally leading companies that systematically follow ESG reporting and standards into their financial books to top AI-based and Fintech-based companies, we use the daily observation extending from December 31, 2019 to October 9, 2023. For the empirical investigation, Diebold and Yilmaz (2012) model and Baruník and Křehlík (2018) model are employed.

An intriguing observation is found for both recipient and transmission as Northrop Grumman remains the least shock transmitter and receiver among all constituent markets irrespective of two different used models. On this note, Northrop Grumman can be classified among the safest stock comparatively which has to be held in short, medium and long run to mitigate the risk.

After extensive existing literature review and to the best of the authors knowledge, it is a novel study that examines the dynamic connectedness among ESG, Fintech and AI stocks covering two unprecedented events like the COVID-19 outbreak and the Russia–Ukraine invasion.