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Book part
Publication date: 15 August 2007

Ritab S. Al-Khouri

This paper presents new evidence of the relationship between financial market development (banking sector) and economic growth for a set of seven Middle East and North…

Abstract

This paper presents new evidence of the relationship between financial market development (banking sector) and economic growth for a set of seven Middle East and North African economies over the period 1965–2002. We find evidence that in six of the seven countries, banking-sector development Granger causes increases in economic growth. However, in three of those six countries, economic growth also Granger causes banking development. Our co-integration analysis reveals that there is a stable long-run equilibrium relationship between banking-sector development and economic growth for all our countries. However, based on vector error-correction models, there is limited evidence that banking-sector development boosts economic growth in the short run.

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Issues in Corporate Governance and Finance
Type: Book
ISBN: 978-1-84950-461-4

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Article
Publication date: 22 December 2020

Taiyan Huang

The purpose of this paper is based on China’s economic fundamentals. Factor input, structural optimization and institutional reform, which determine the fundamentals of…

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857

Abstract

Purpose

The purpose of this paper is based on China’s economic fundamentals. Factor input, structural optimization and institutional reform, which determine the fundamentals of China's economic development, will actively prop up long-term, sustained and stable growth of the Chinese economy and keep China's potential economic growth rate stabilized within a reasonable growth range in the long term.

Design/methodology/approach

The fundamentals of economic development of a country are the basic situation of economic operation determined by the country's main factors and the long-term trend thereof, and they have such characteristics as stability, internality and persistence.

Findings

Stability refers to economic operation that remains relatively stable within a reasonable growth range at a certain stage of development, and this does not rule out exceptional economic fluctuations in certain years due to the impact of unexpected short-term factors. For instance, the fundamentals of the Chinese economy during the period after the reform and opening-up are characterized by a sustained high growth rate.

Originality/value

Internality refers to the intrinsic quantity and quality of all factors supporting the economic development of a country, especially the quantity and quality of the factors that play a decisive role in the economic development of a country at a specific stage. For instance, demographic dividend and capital formation have bolstered the high-speed growth of the Chinese economy since the reform and opening-up.

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China Political Economy, vol. 3 no. 2
Type: Research Article
ISSN: 2516-1652

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Article
Publication date: 1 March 1999

Kuotsai Tom Liou

This symposium examines issues related to local economic development financing. The symposium introduction paper consists of two sections: (1) a review of the literature…

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198

Abstract

This symposium examines issues related to local economic development financing. The symposium introduction paper consists of two sections: (1) a review of the literature related to local economic development in general and to the financing economic development in particular; and (2) a summary of major findings from the four symposium papers addressing such issues as rural bank loans, the tax increment financing program, professionalism in economic development, and regional development through tax sharing.

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Journal of Public Budgeting, Accounting & Financial Management, vol. 11 no. 2
Type: Research Article
ISSN: 1096-3367

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Article
Publication date: 1 March 1999

Kuotsai Tom Liou

This symposium examines issues related to local economic development financing. The symposium introduction paper consists of two sections: (1) a review of the literature…

Abstract

This symposium examines issues related to local economic development financing. The symposium introduction paper consists of two sections: (1) a review of the literature related to local economic development in general and to the financing economic development in particular; and (2) a summary of major findings from the four symposium papers addressing such issues as rural bank loans, the tax increment financing program, professionalism in economic development, and regional development through tax sharing.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 11 no. 3
Type: Research Article
ISSN: 1096-3367

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Book part
Publication date: 4 July 2019

Artem I. Krivtsov

  • Development sustainability of economic entities in the modern global universe: stakeholder approach.

  • The model of strategy implementation in the field of sustainable…

Abstract

Highlights

  • Development sustainability of economic entities in the modern global universe: stakeholder approach.

  • The model of strategy implementation in the field of sustainable development.

  • The system of key performance indicators (KPI) in the field of sustainable development.

Development sustainability of economic entities in the modern global universe: stakeholder approach.

The model of strategy implementation in the field of sustainable development.

The system of key performance indicators (KPI) in the field of sustainable development.

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Article
Publication date: 30 August 2011

Qazi Muhammad Adnan Hye and Irina Dolgopolova

The purpose of this paper is to construct a financial development index for China and to analyze the relationship between the financial sector development index and…

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Abstract

Purpose

The purpose of this paper is to construct a financial development index for China and to analyze the relationship between the financial sector development index and economic growth.

Design/methodology/approach

This study uses Johansen‐Juselius cointegration approach to determine long run relationship between variables. To determine the strength of causal relationship variance decomposition is used. The stability of coefficient is evaluated through rolling window regression method.

Findings

The results of Johansen‐Juselius cointegration approach confirm long run relationship between financial development index and economic growth. Normalized cointegrating vector indicates that financial development index, real interest rate, capital and labor force positively determine economic growth in China. The yearly coefficient is provided by the rolling regression and indicates that financial development index negatively link to economic growth in 1991, 1992, 1994, 1995, 1999, 2000, 2003‐2005. Interest rate is negatively linked to economic growth in 1991‐1996, 2007 and 2008. The variance decomposition method validates that shocks in financial development index and real interest rate are explained by economic growth.

Originality/value

A financial development index for China is constructed and the relationship between economic growth and financial development is indicated.

Details

Chinese Management Studies, vol. 5 no. 3
Type: Research Article
ISSN: 1750-614X

Keywords

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Article
Publication date: 12 October 2021

Cintya Lanchimba, Hugo Porras, Yasmin Salazar and Josef Windsperger

Although previous research has examined the role of franchising for the economic development of countries, no empirical study to date has investigated the importance of…

Abstract

Purpose

Although previous research has examined the role of franchising for the economic development of countries, no empirical study to date has investigated the importance of franchising for social, infrastructural, and institutional development. The authors address this research gap by applying research results from the field of sustainable entrepreneurship and highlight that franchising has a positive impact on economic, social, institutional and infrastructural development.

Design/methodology/approach

This study uses a fixed-effects model on a panel dataset for 2006–2015 from 49 countries to test the hypothesis that franchising positively influences various dimensions of country development such as economic social institutional and infrastructural development.

Findings

The findings highlight that franchising has a positive impact on the economic, social, infrastructural, and institutional development of a country. Specifically, the results show that the earlier and the more franchising systems enter a country, the stronger the positive impact of franchising on the country's economic, social, institutional, and infrastructural development.

Research limitations/implications

This study has several limitations that provide directions for further research. First, the empirical investigation is limited by the characteristics of the data, which are composed of information from 49 countries (covering a period of 10 years). Because franchising is not recognized as a form of entrepreneurial governance in many emerging and developing countries, the available information is mainly provided by the franchise associations in the various countries. Hence, there is a need to collect additional data in each country and to include additional countries. Second, although the authors included developed and developing countries in the analysis, the authors could not differentiate between developed and developing countries when testing the hypotheses, because the database was not sufficiently complete. Third, future studies should analyze the causality issue between franchising and development more closely. The role of franchising in development may be changing depending on different unobserved country factors, economic sector characteristics, or development stages.

Practical implications

What are the practical implications of this study for the role of franchising in the development of emerging and developing economies? Because public policy in emerging and developing countries suffers from a lack of financial resources to improve the social, infrastructural and institutional environment, entrepreneurs, such as franchisors who expand into these countries, play an important role for these countries' development. In addition to their entrepreneurial role of exploring and exploiting profit opportunities, they are social, institutional, and political entrepreneurs who may positively influence country development (Schaltegger and Wagner, 2011; Shepard and Patzelt, 2011). Specifically, the findings highlight that countries with an older franchise sector (more years of franchise experience) may realize first-mover advantages and hence larger positive spillover effects on their economic, social, institutional and infrastructural development than countries with a younger franchise sector. Hence, governments of emerging and developing countries have the opportunity and responsibility to reduce potential market entry barriers and provide additional incentives for franchise systems in order to trigger these positive spillover effects. The authors expect that the spillover effects from the franchise sector on the economic, institutional, social and infrastructural development of a country are stronger in emerging and developing countries than in developed countries.

Originality/value

Previous research has focused on the impact of franchising on the economic development of a country, such as its growth of gross domestic product (GDP), employment, business skills, innovation and technology transfer. This study extends the existing literature by going beyond the impact of franchising on economic development: the results show that franchising as an entrepreneurial activity offers opportunities for economic, social, institutional, and infrastructural development, all of which are particularly important for emerging and developing economies. The findings of this study contribute to the international franchise and development economics literature by offering a better understanding of the impact of franchising on country development.

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International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 7 September 2021

Ziqi Yin and Xue Jin

With the rapid development of the economy, carbon emissions have also risen sharply. This study explores the relationship between the two by combining the literature of…

Abstract

Purpose

With the rapid development of the economy, carbon emissions have also risen sharply. This study explores the relationship between the two by combining the literature of relevant fields and maps the analytical framework from the knowledge base to the research frontier model using CiteSpace.

Design/methodology/approach

Using CiteSpace and data statistical tools, we conducted a bibliometric and visual analysis of nearly ten thousand research papers on carbon emissions and economic development published in the Web of Science (WOS) and China National Knowledge Infrastructure (CNKI) databases from 1991 to 2021.

Findings

It shows that research on economic development and carbon emissions is developing steadily and involves a wide range of fields. Notably, keywords such as “carbon emissions,” “economic growth,” and “energy consumption” had high frequency, centrality, and persistence. “carbon emissions,” “economic growth,” and “energy consumption” had high frequency, centrality, and persistence. Research institutions in the USA and China have made great contributions to research on economic development and carbon emissions. The authors should continue to enrich and improve research on related subjects and concerns to reasonably plan the path of carbon emission reduction and economic development.

Originality/value

The study analyzes the evolution of the relationship between carbon emissions and economic growth to provide scholars a more comprehensive and in-depth understanding of the relationship from an international perspective.

Details

Management of Environmental Quality: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1477-7835

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Article
Publication date: 13 August 2021

Tarsem Lal

The purpose of this paper is to check the impact of financial inclusion on economic development of marginalized communities through the mediation of socio-economic empowerment.

Abstract

Purpose

The purpose of this paper is to check the impact of financial inclusion on economic development of marginalized communities through the mediation of socio-economic empowerment.

Design/methodology/approach

In order to fulfil the objectives of the study, primary data were collected from 382 bank customers belonging to marginalized communities breathing in Jammu district of J and K by using purposive sampling technique. The data were collected during the month of April–August 2020. Multivariate statistical techniques such as EFA, CFA and SEM were used for data analysis and scale purification.

Findings

The study’s results reveal that financial inclusion has a direct and significant impact on economic development of marginalized communities through the mediation of social and economic empowerment. The study highlights that despite various initiatives taken by the government towards financial inclusion, there is a denial from the financial institutions to extend the credit to the marginalized communities due to lack of education, illiteracy, lack of awareness, attitude of bankers and policy directions to the banking sector, which confine these communities to feel proud, dignified, confident and self-reliant to face any financial crisis.

Research limitations/implications

First the in-depth analysis of the study is restricted to Jammu district only that restricts the generalization of the results to the whole population of J and K. Second, the data were collected from respondents belonging to marginalized communities only. Third, comparative study of marginalized households who are covered under the financial inclusion drive and those who are still financially excluded has not been done yet. Fourth, the questionnaire approach was the only way to gather primary data and thus, the results might have a common-method bias.

Originality/value

The study makes contribution in the direction of financial inclusion narrative relating to socio-economic empowerment and economic development of marginalized communities. It looks into how for the socio-economic aspects of marginalized communities influence their exclusion from the financial system of the country. The study also provides valuable insights for the policymakers, researchers and academicians both at the countrywide and intercontinental level to devise and put into practice programmes that will widen right to use financial products and services leading to cutback of poverty incidence, income parity, social and economic empowerment, economic development and reduction in caste and gender based discrimination.

Details

International Journal of Social Economics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 23 August 2021

Jurgita Bruneckienė, Jonas Rapsikevičius, Mantas Lukauskas, Ineta Zykienė and Robertas Jucevičius

This paper aims to investigate the smart economic development (SED) patterns in Europe in relation to competitiveness. Motivational focus corresponds to global events: the…

Abstract

Purpose

This paper aims to investigate the smart economic development (SED) patterns in Europe in relation to competitiveness. Motivational focus corresponds to global events: the fourth industrial revolution, transition to a low-carbon economy, economic shocks (such as the 2008 financial crisis, Brexit or the coronavirus pandemic), which requires rethinking development policies, targeting competitiveness increase and reducing imbalances in economic development.

Design/methodology/approach

The analysis includes self-organising neural networks cluster analysis and correlations, comparative analysis of SED indicators structure and cumulative index estimation with World Economic Forum (WEF) global competitiveness index. The panel data set of 19 years from 2000 to 2018 for 30 European countries.

Findings

Overall, cross-country examination suggests that European countries of higher competitiveness illustrate higher estimates in SED. The key determinants are juridical fairness, social responsibility, competence building, intelligence and welfare employment to develop smart patterns for reaching higher competitiveness.

Research limitations/implications

The limitations relate to the particular sample of European countries and gathering statistical data and a methodology of the SED index calculation. In addition, the paper contains a macroeconomic environment focus on competitiveness estimation. Further research may be improved with micro and mezzo environment incorporation at a cross-country analysis level.

Practical implications

By linking well-known terms of competitiveness and economic development with a concept of smartness, new approaches to policymaking emerged. The methodology presented in this paper has implications for territorial cohesion policies, competitiveness and branching strategies. The combination of SED sub-indexes and WEF GCI might aid a more accurate ex ante measurement.

Social implications

The findings are essential for fostering a smart approach in economic development for long-term competitiveness.

Originality/value

This paper provides original empirical evidence about the relationship between SED and competitiveness and adds new knowledge that smartness becomes a way for building countries’ competitiveness by identified two profiles of SED patterns by development stages, namely, integrated to economic development and institutional-based which is divided to focus and balanced.

Details

Competitiveness Review: An International Business Journal , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1059-5422

Keywords

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