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This article examines the effects of credit to private sector on the business and trade activities. The effectiveness of rapid expansion in public and private borrowing through state's intervention after COVID-19 pandemic has been assessed in this study.

The model to determine the role of credit expansion is based on four equations estimated through panel least square technique on 18 years data of 186 countries.

It is concluded that credit to private sector and external debt improve the investment in infrastructure, which is a significant determinant of gross domestic product growth. Empirical evidences corroborate that higher number of firms using banks to finance their investment and the volume of broad money determine the magnitude of credit to private sector.

This study explores some new evidences and aspects of the credit financing which have not been discussed in this way before.

The Group of Twenty (G20) has substantial influence in global economic policy but has been peripheral in global education governance. There is intensification of education policy-relevant engagement within the Think 20 (T20), the “ideas bank” and official engagement group of the G20. The authors analyse the evolution of education as a policy domain within the T20, the ideas and discursive framing of education and global education policy “solutions” and assumptions about the G20 in education policy engagement.

The authors view the T20 as an external actor that can mobilise policy-relevant ideas to G20 actors responsible for internal policy selection and translation. The analysis covers the period 2018–2021 when education became an explicit T20 policy area. The authors screened all 461 T20 policy briefs across all domains. Of these, 32 briefs and four final T20 Summit communiqués were reviewed using critical discourse analysis. Data were supplemented via organisational websites and tacit professional knowledge.

Three assumptions on the G20 as an actor prevailed: (1) policymaker, (2) policy shaper and (3) knowledge mobiliser. The framing ideas on education were linked to assumptions on drivers of education system reform as intertwined with, or to enable: (1) economic adaptation, (2) technical adaptation and (3) socio-political adaptation of individuals and societies.

Accelerated education engagement within the T20 and its direct reach to G20 leaders makes it, and the G20, analytically unique and new unexamined actors of potential influence. The authors conclude that the T20 is positioned as a unique actor, both that can mobilise education policy-relevant ideas to G20 leaders, and legitimised as the actor from which G20 leaders and policymakers should adopt ideas.

The purpose of this paper is to systematically review the history and current state of lesson study (LS) in Germany. In particular, this paper describes the development of LS over time and its stakeholders.

Conducting a systematic literature review, we searched three scientific databases and Google Scholar, examined 806 results and included 50 articles in our final sample, which we analyzed systematically.

The spread of LS in Germany can be divided into three phases, characterized by their own LS projects as well as their own ways of understanding LS. Although interest in LS has increased significantly in recent years, it is only present at a small number of schools and universities in Germany if compared internationally. Furthermore, this paper identifies the so-called learning activity curves as a tool frequently used for observation and reflection that appears to be unknown outside German-speaking countries.

This paper may act as an outline for countries without large-scale LS projects and with limited support from policymakers. The experience from Germany demonstrates the outcomes and challenges that can arise in such a situation and shows how unique LS features and proceedings have emerged.

The study systematically analyses the path dependency and path-shaping of borrowed education policy, tracing it from the global through the national to individual schools. It also revisits the case schools after five years to map the school level policy paths.

Recently, path-dependency heuristics have drawn attention in predicting educational policy trajectories. However, these studies are primarily theoretical, and those empirical studies do not capture what happens at the school level. This paper fills the research gap by presenting a model that synthesises the research from diverse fields and is informed by findings from a longitudinal case study of educational outsourcing in public schools in Hong Kong and Korea.

The findings highlight path dependency interactions across educational levels diachronically and synchronically, while aptly incorporating the creative ways school leaders exercise their agency therein. The paper concludes with new insights into policy trajectory and education outsourcing.

The study substantiates and extends previously suggested theoretical models on the paths of travelling educational policies and identifies the factors that shape the paths. It also sheds light on how school leaders navigate the structures that constrain their actions or create a new path and pursue their educational goals.

The effectiveness of fiscal policy is an interesting field in literature of macroeconomics. The purpose of this paper is to investigate the effects of fiscal policy on economic growth under contributions from the differences in institutions and external debt levels.

The authors use panel data from 2002 to 2014 from 20 emerging markets and use GMM estimators for unbalanced panel data.

The results show positive growth effects of fiscal policy across emerging markets in the examined periods. Notably, the improvement in institutions promotes higher crowding-in effects of fiscal policy. In addition, this paper finds interesting evidences that the external debt has non-linear effects on economic growth, whereas the heterogeneous effects of fiscal policy on economic growth as positive effects in low indebted level and negative effect in high indebted level may explain the mechanism of this non-linear relationship.

This study proposes the non-linear relationship of fiscal growth effects in emerging economies under the dynamic of debt levels.

The study examines the impacts of debt financing on infrastructure development, investment, creation of new business entities, subsidies to private sector and GDP growth.

The methodology is based on five simultaneous equations which have been estimated through panel least square.

The most important conclusion of this study is the significant role of sovereign bonds in determination of subsidies to private sector. The role of domestic credit is important in South Asian context because of its significant role in creation of new businesses.

This study supports the enhancement in credit financing to private sector for creation of new business activities in the economy.

The improvement in liquidity position by enhancing domestic credit facilities may ensure the sustainability and continuity of business activities. Such activities may improve GDP growth in future.

The most important aspect of the study is to identify the role of debt financing in subsidies and creation of new businesses which are important elements of social economics.

Usually the impacts of sovereign bonds and external debts on infrastructure development and GDP growth are examined. But, to relate these debts to creation of business entities and subsidies is a new dimension.

The present study aims to reveal common and diverging trends in the development of pedagogical competences of vocational education and training (VET) teachers and trainers in Italy and Lithuania.

A structured survey was administered to Italian and Lithuanian teachers. The collected data were analysed and compared.

Results show that there are many common challenges and problems in the development of pedagogical competencies of the VET teachers in both countries; e.g.: the marginalisation of the VET teacher's work and working conditions, especially the dissatisfying wages and poor career opportunities, and the absent or weak institutionalisation of the VET teacher's qualifications and training.

The emerged results can be useful for directors of VET-centres and VET-schools to manage training and pedagogical growth of teachers both in Italy and in Lithuania. Moreover, the outputs can be considered as a set of suggestions also by the policymakers both at national and European level.

This study aims to analyze the impact of cooperation between banking supervisory entities on maintaining financial stability, using Single Supervisory Mechanism evolution and performance as instance. Then banking supervisory cooperation and financial stability in Egypt are reviewed.

The qualitative method is used to study and analyze the practices that contributed to financial instability and raised the need for supervisory cooperation. Descriptive qualitative method is used to study the interrelations between supervisory authorities on various levels and its impact on financial stability.

Findings show that maintaining financial stability through strong, consistent complete or semi unified supervisory framework faces challenges. Providing cooperation between different supervisory authorities, effective information sharing, gained experience in the long run contributes to financial stability.

The originality of this research paper arises from the fact that it encompasses the academic aspect through interpreting the developments that occurred to the cooperation in banking supervision in relation to the financial instability times in the Eurozone that led to the establishment of Single Supervisory mechanism, and the challenges it faced. The supervisory cooperation in Egypt is studied as well at international, regional levels and its role in contributing to financial stability. To the best of the authors' knowledge this is the first study that studies the banking supervisory cooperation between Egyptian supervisory authorities and other international and regional authorities.

The purpose of this paper is to explain why Singapore is a success story today despite the fact that its prospects for survival were dim when it became independent in August 1965.

This paper describes the changes in Singapore’s policy context from 1959 to 2016, analyses the five factors responsible for its success and concludes with advice for policy makers interested in implementing Singapore-style reforms to solve similar problems in their countries.

Singapore’s success can be attributed to these five factors: the pragmatic leadership of the late Lee Kuan Yew and his successors; an effective public bureaucracy; effective control of corruption; reliance on the “best and brightest” citizens through investment in education and competitive compensation; and learning from other countries.

This paper will be useful to those scholars and policy makers interested in learning from Singapore’s success in solving its problems.

Starting from the theoretical mechanism of profit sharing between finance and the real economy, this paper reviews and analyzes the profitability of China's banking industry and makes a horizontal comparison with the banking industry of the United States, Japan, and Germany.

Based on the panel threshold model, it is found that there is a dual-threshold asymmetric effect between banking profit and the growth of real economy. When the net profit rate of the banking industry is lower than 0.491%, the increase in banking profitability will inhibit the growth of real economy due to profit grabbing; when the rate falls within the range of 0.491–0.801%, the increase in bank profitability is conducive to the growth of real economy.

Finance and the real economy are in the most comfortable symbiotic state; when the rate is higher than 0.801%, the continued increase in bank profitability will weaken the promotion effect of finance on the real economy, but bank profitability and the growth of real economy are still in a symbiotic state of positive promotion.

The promotion effect of China's bank profitability to the growth of real economy has shifted from the suboptimal state to the optimal range as a whole, which is attributed to the strong deleveraging and strict supervision of the Chinese government after 2016, the timely and decisive “stepping on the brakes”, pulling the financial sector back from the “illusion” caused by “self-circulated” profits and preventing it from harming the real economy.