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This paper aims to determine causal relationships between the level of productive credit, real deposits and money demand – all of them in real terms – and Gross National Product between 2006 and 2020.

The vector autoregressive technique (VAR) was used, where data from real macroeconomic aggregates published by the Central Bank of Ecuador (BCE) are correlated, such as productive credit, gross domestic product (GDP) per capita, deposits and money demand.

The results indicate that there is no causal relationship, in the Granger sense, between GDP and financial activity, but there is between the growth rate of real money demand per capita and the growth rate of total real deposits per capita.

The study shows that bank credit mainly finances the operations of current assets and/or liabilities. In addition, economic agents use the banking system mainly to carry out transactional and precautionary activities.

The purpose of this paper is to understand if and how industrialized house building (IHB) could support productivity developments for housebuilding on project and industry levels. The take is that fragmentation of construction is one explanation for the lack of productivity growth, and that IHB could be an integrating method of overcoming horizontal and vertical fragmentation.

Singe-factor productivity measures are calculated based on data reported by IHB companies and compared to official produced and published research data. The survey covers the years 2013–2020 for IHB companies building multi-storey houses in timber. Generalization is sought through descriptive statistics by contrasting the data samples to the used means to control vertical and horizontal fragmentation formulated as three theoretical propositions.

According to the results, IHB in timber is on average more productive than conventional housebuilding at the company level, project level, in absolute and in growth terms over the eight-year period. On the company level, the labour productivity was on average 10% higher for IHB compared to general construction and positioned between general construction and general manufacturing. On the project level, IHB displayed an average cost productivity growth of 19% for an employed prefabrication degree of about 45%.

Empirical evidence is presented quantifying so far perceived advantages of IHB. By providing analysis of actual cost and project data derived from IHB companies, the article quantifies previous research that IHB is not only about prefabrication. The observed positive productivity growth in relation to the employed prefabrication degree indicates that off-site production is not a sufficient mean for reaching high productivity and productivity growth. Instead, the capabilities to integrate the operative logic of conventional housebuilding together with logic of IHB platform development and use is a probable explanation of the observed positive productivity growth.

This paper delves into cross-border E-business, unraveling its intricate dynamics and forecasting its future trajectory.

This paper projects the prospective market size of cross-border E-business in China for the year 2023 using the GM (1,1) gray forecasting model. Furthermore, to enhance the analysis, the paper attempts to simulate and forecast the size of China’s cross-border E-business sector using the GM (1,3) gray model. This extended model considers not only the historical trends of cross-border E-business but also the growth patterns of GDP and the digital economy.

The forecast indicates a market size of 18,760 to 18,934 billion RMB in 2023, aligning with the consistent growth observed in previous years. This suggests a sustained positive trajectory for cross-border E-business.

Cross-border e-commerce critically shapes China’s global integration and traditional industry development. The research in this paper provides insights beyond statistical trends, contributing to a nuanced understanding of the pivotal role played by cross-border e-commerce in shaping China’s economic future.

This paper reviews recent research on the expected economic effects of developing artificial intelligence (AI) through a survey of the latest publications, in particular papers and reports issued by academics, consulting companies and think tanks.

Our paper represents a point of view on AI and its impact on the global economy. It represents a descriptive analysis of the AI phenomenon.

AI represents a driver of productivity and economic growth. It can increase efficiency and significantly improve the decision-making process by analyzing large amounts of data, yet at the same time it creates equally serious risks of job market polarization, rising inequality, structural unemployment and the emergence of new undesirable industrial structures.

This paper presents itself as a building block for further research by introducing the two main factors in the production function (Cobb-Douglas): labor and capital. Indeed, Zeira (1998) and Aghion, Jones and Jones (2017) suggested that AI can stimulate growth by replacing labor, which is a limited resource, with capital, an unlimited resource, both for the production of goods, services and ideas.

Our study contributes to the previous literature and presents a descriptive analysis of the impact of AI on technological development, economic growth and employment.

Information and communications technology (ICT) is helping to create a sustainable information society and foster development. This study aims to investigate the interdependencies of organisational flexibility enabled by ICT, demographics and containment measures in the ever more dismal economic performances seen during COVID-19 with a view to preparing socio-economic systems for similar future shocks.

Using non-classical fuzzy-set qualitative comparative analysis, the authors are able to capture the asymmetric relationships and complexities found in real life.

Analysing data acquired from the Oxford COVID-19 Government Response Tracker and Eurostat, the authors find these conditions give mixed results depending on how they are combined. The results imply that countries under strict containment measures might only be able to survive when fully equipped with ICT solutions. E-commerce also plays an important role in countries with a below-average decrease in their growth rate. Put differently, the presence and absence of telework produces mixed results. If the population is old, telework seems to generate the desired outcomes. Yet, when the population is young, it might be more beneficial to avoid this practice.

Unlike studies that mainly assumed symmetrical effects and linear relationships, this study investigates the interdependencies of organisational and macro-level factors. On the micro level, this study is useful for managers allocating IT investments for any future occurrence of a general disaster/pandemic. On the macro level, the study can act as an example for the rest of the world regarding the appropriateness of assorted COVID-19 pandemic responses as witnessed in European countries.

In an increasingly interconnected world, transportation infrastructure has emerged as a critical determinant of economic growth and global competitiveness. High-speed rail (HSR), characterized by its exceptional speed and efficiency, has garnered widespread attention as a transformative mode of transportation that transcends borders and fosters economic development. The Kuala Lumpur – Singapore (KL-SG) HSR project stands as a prominent exemplar of this paradigm, symbolizing the potential of HSR to serve as a catalyst for national economic advancement.

This paper is prepared to provide an insight into the benefits and advantages of HSR based on proven case studies and references from global HSRs, including China, Spain, France and Japan.

The findings that have been obtained focus on enhanced connectivity and accessibility, attracting foreign direct investment, revitalizing regional economies, urban development and city regeneration, boosting tourism and cultural exchange, human capital development, regional integration and environmental and sustainability benefits.

The KL-SG HSR, linking Kuala Lumpur and Singapore, epitomizes the potential for HSR to be a transformative agent in the realm of economic development. This project encapsulates the aspirations of two dynamic Southeast Asian economies, united in their pursuit of sustainable growth, enhanced connectivity and global competitiveness. By scrutinizing the KL-SG High-Speed Rail through the lens of economic benchmarking, a deeper understanding emerges of how such projects can drive progress in areas such as cross-border trade, tourism, urban development and technological innovation.

The primary objective of this research is to chronicle how the Environmental Protection Agency (EPA) and other United States Federal Government Agencies (USFGA) agencies have played a role in shaping the trajectory of financial reporting for sustainability, with a particular emphasis on triple bottom line (TBL). This exploration extends to other indexes reporting sustainability data encompassed within financial, social and environmental reporting.

This study adopts an illustrative methodology, utilizing data sourced from governmental, business and international organizational documents.

Sustainability accounting predominantly finds its place within the framework of TBL. However, it is crucial to note that sustainability reporting remains voluntary rather than mandatory. Nevertheless, accounting firms and professional accounting societies have embraced it as a supplementary facet of financial accounting reporting.

The research highlights the historical evolution of sustainability within the USFGA and corporate entities. Corporations’ interest in accounting for sustainability performances has significantly contributed to the emergence of voluntary sustainability accounting rules, as embodied by the TBL.

In this paper, the heterogeneity of the linkages among financial development, productivity and growth across income groups is emphasized.

An empirical analysis is conducted with an illustrative sample of 130 economies over the period 1991–2019 and classified into four subsamples: Organisation for Economic Co-operation and Development (OECD), developing, least developed and net food importing developing countries. Forecast error variance decompositions and panel vector auto-regressive estimations are computed, with insightful findings.

Higher levels of output stimulate the economic development in the agricultural sector, mainly via the productivity channel and, in the most developed economies, also through access to credit. Differently, in developing and least developed economies, the role of access to credit is marginal. The findings have practical implications for stakeholders involved in the planning of long-run investments. In less developed economies, priorities should be given to investments in technology and innovation, whereas financial markets are more suited to boost the development of the agricultural sector of developed economies.

The authors conclude on the credit–output–productivity nexus and contribute to the literature in (at least) three ways. First, they assess how credit access, agricultural output and agricultural productivity are jointly determined. Second, they use a novel approach, which departs from most of the case studies based on single-country data. Third, they conclude on potential causality links to conclude on policy implications.

Economic literature highlights both positive and negative impact of FDI on economic growth. The purpose of this study is to confirm the relationship between various economic factors and FDI equity inflows and find out deviations, if any. This is investigated using standard time-series econometric models. The long and short run relationship is inquired with respect to market size, inflation rate, level of infrastructure, domestic investment and openness to trade. The choice of variables for Indian economy is purely based on empirical observations obtained from scientific literature review.

The study involves application of autoregressive distributive lag (ARDL) model to investigate the relationship. The long run co-integration between FDI and economic growth is tested by Pesaran ARDL model. The stationarity of data is tested by augmented Dickey Fuller test and Phillip–Perron unit root test. Error correction model is applied to study the short run relationship using Johansen’s vector error correction model method besides other tests.

The results show that the domestic investment, inflation rate, level of infrastructure and trade openness influence inward FDI flows. These factors have both long and short-term relationship with FDI inflows. However, market size is insignificant in influencing the foreign investments inflows. There lies an inverse relation between FDI and inflation rate.

To the best of the authors’ knowledge, the study is original. The methodology and interpretation of results are distinct and different from other similar studies.

The purpose of this study is to provide new insights into the relationship between fiscal policy and total factor productivity (TFP) while accounting for several economic and econometric issues of the phenomenon like non-stationarity, fiscal feedback effects, persistence in productivity, country heterogeneity and unobserved global shocks and local spillovers affecting heterogeneously the countries in the sample.

The paper is empirical. It builds an Error Correction Model (ECM) specification within a dynamic heterogeneous framework with common correlated effects and models both reverse causality and feedback effects.

The results of this study highlight some new findings relative to the existing related literature. The outcomes suggest some relevant evidence at both the academic and policy levels: (1) the causal effects going from fiscal deficit/surplus to TFP are heterogeneous across countries; (2) the effects depend on the time horizon considered; (3) the long-run dynamics of TFP are positively impacted by improvements in fiscal budget, but only if the austerity measures do not exert slowdowns in aggregate growth.

The main originality of this study is methodological, with possible extensions to related phenomena. Relative to the existing literature, the gains of this study rely on the way econometric techniques, recently proposed in the literature, are adapted to the economic relationship of interest. The endogeneity due to the existence of reverse causality is modelled without implying relevant performance losses of the models. Moreover, this is the first article that questions whether the effects of fiscal budget on productivity depend on the impact of the former on aggregate output growth, thus emphasising the importance of the quality of fiscal adjustments.