The provincial panel data from 2005 to 2018 in this paper classifies institutional variables into the degree of market resource allocation, market openness, and property rights diversification. It ...empirically analyzes the relationship between economic growth, natural resources, and institutions quality. The research results show that the “resource curse” proposition is valid at the provincial level in China. The low-quality market resource allocation system and property rights system curbed the potential advantages of natural resources to promote economic development and caused the “resource curse” effect. Similarly, the increase in market openness can ease the “resource curse” effect. Moreover, in the context of the spatial agglomeration of natural resources, there is a negative spatial correlation between economic growth, and the “resource curse” effect is more severe in areas where resources are more abundant. In addition, it is found that natural resource endowments will affect the quality of the system. Under the effect of the causal cycle mechanism, the lower the quality of the system, the more severe “resource curse” effect.
•Multi-dimensional selection institutional quality index.•The “resource curse” proposition is valid at the provincial level in China.•Negative correlation between natural resources and economic growth.•Low institutional quality leads to serious “resource curse".
Drawing on balanced panel data of 30 Chinese provinces in 1987–2017, this paper examines the impact of carbon emissions on economic growth through the panel smooth transition regression model. ...Estimation is conducted based on the whole sample as well as the northern region and southern region subsamples. Empirical results reveal that: i) noticeable non-linear relationships do exist among carbon emissions, financial development, openness, innovation, and economic growth; and ii) carbon emissions attenuate the promoting effects of financial development and innovation on economic growth, which is also confirmed by using energy consumption as the transition variable; and iii) subsample estimations further discover that the impact of carbon emissions on economic growth is significantly different between the two regions, with the northern region having a lower carbon emissions threshold but quicker transition speed.
•Carbon emissions will inhibit the positive effects of financial development, and innovation on economic growth.•A PSTR model is employed to study the effect of carbon emissions on China's economic growth.•There is a significant non-linear relationship among economic growth, carbon emissions, and other economic variables.•The effects of carbon emissions on economic growth vary significantly from region to region.
East Asia has three of the most powerful economies on earth, but they are losing steam. Dwight Perkins draws on extensive experience in the region to explain the reasons for this rapid economic ...growth since the 1960s and to ask if the recent slowdown is a local phenomenon or typical of all economies at this stage of development.
The Asian financial crisis of 1997-1998 was supposed to be the death knell for the developmental state. The International Monetary Fund supplied emergency funds for shattered economies but demanded ...that states liberalize financial markets and withdraw from direct involvement in the economy. Financial liberalization was meant to spell the end of strategic industry policy and the state-directed "policy lending" it involved. Yet, largely unremarked by analysts, South Korea has since seen a striking revival of financial activism. Policy lending by state-owned development banks has returned the state to the core of the financial system. Korean development banks now account for one quarter of all loans and take the lead in providing low-cost finance to local manufacturing firms in strategic industries.
Elizabeth Thurbon argues that an ideational analysis can help explain this renewed financial activism. She demonstrates the presence of a "developmental mindset" on the part of political leaders and policy elites in Korea. This mindset involves shared ways of thinking about the purpose of finance and its relationship to the productive economy. The developmental mindset has a long history in Korea but is subject to the vicissitudes of political and economic circumstances. Thurbon traces the structural, institutional, political, and ideational factors that have strengthened and at times weakened the developmental consensus, culminating in the revival of financial activism in Korea. In doing so, Thurbon offers a novel defense of the developmental state idea and a new framework for investigating the emergence and evolution of developmental states. She also canvasses the implications of the Korean experience for wider debates concerning the future of financial activism in an era of financialization, energy insecurity, and climate change.
This book is open access under a CC BY 4.0 license. This book presents methods to evaluate sustainable development using economic tools. The focus on sustainable development takes the reader beyond ...economic growth to encompass inclusion, environmental stewardship and good governance. Sustainable Development Goals (SDGs) provide a framework for outcomes. In illustrating the SDGs, the book employs three evaluation approaches: impact evaluation, cost-benefit analysis and objectives-based evaluation. The innovation lies in connecting evaluation tools with economics. Inclusion, environmental care and good governance, thought of as “wicked problems”, are given centre stage. The book uses case studies to show the application of evaluation tools. It offers guidance to evaluation practitioners, students of development and policymakers. The basic message is that evaluation comes to life when its links with socio-economic, environmental, and governance policies are capitalized on.
There are studies on renewable energy, natural resources abundance, and their impact on the environment especially in BRICS countries. However, none of the studies has considered human capital in the ...nexus, knowing fully well that ecological distortions mainly emanates from human activities. Therefore, this study explores the linkage between natural resource, renewable energy, human capital, and ecological footprint (EF) in BRICS using a battery of advance econometric techniques. The findings from the study, across all models, affirm that economic growth and natural resource increase the EF, renewable energy decreases it, while human capital is not yet at a desirable level as to mitigate environmental deterioration. The country-specific results are in harmony in terms of the deteriorating impact of economic growth, and the abating role of renewable energy on the environment. Further findings suggest a feedback causality between human capital, urbanization, and EF. Policies that can enhance renewable energy consumption, human capital development, natural resource sustainability, and curb urban anomaly are discussed.
•The study explores the linkage between natural resource, renewable energy, human capital, and ecological footprint in BRICS.•Economic growth and natural resource increase the ecological footprint.•Human capital is not yet at a desirable level as to mitigate environmental deterioration.•A feedback causality between human capital, urbanization, and ecological footprint.•Renewable energy decreases the ecological footprint.
This study empirically examines the effect of green finance and fintech on high-quality economic development. Using data from 30 provinces and municipalities in China from 2007 to 2019, this study ...applies panel regression analysis to investigate the relationships between green finance, fintech, and high-quality economic development, and adopts a two-step generalized method of moments (GMM) to defaecate the endogeneity issue. This study finds that green finance comprehensively facilitates high-quality economic development by positively affect its all three aspects (i.e., ecological environment, economic efficiency, and economic structure). Additionally, fintech strengthens the positive impact of green finance in the aspects of ecological environment and economic structure, while having limited effects on the relationship between green finance and economic efficiency. Based on these findings, our study proposes three policy suggestions for policymakers, including reinforcing the integration of fintech development with green finance, building an environmental disclosure framework to supervise local governments in improving efficiency of green finance, and developing medium- and long-term favorable policies as an external intervention measure to promote green finance in the private sector.
•The relationship between green finance and high-quality economic development is investigated.•Fintech development interacts with green finance to affect high-quality economic development.•A comprehensive green finance development index is developed.•High-quality economic development is evaluated independently from three dimensions.•We controlled for endogeneity using the two-step GMM estimator.•The study has important policy implications for promoting the high-quality economic development.
Energy poverty in rural Bangladesh Barnes, Douglas F.; Khandker, Shahidur R.; Samad, Hussain A.
Energy policy,
02/2011, Letnik:
39, Številka:
2
Journal Article
Recenzirano
Energy poverty is a well-established concept among energy and development specialists. International development organizations frequently cite energy-poverty alleviation as a necessary condition to ...reduce income poverty. Several approaches used to measure energy poverty over the past 20 years have defined the energy poverty line as the minimum quantity of physical energy needed to perform such basic tasks as cooking and lighting. This paper uses a demand-based approach to define the energy poverty line as the threshold point at which energy consumption begins to rise with increases in household income. At or below this threshold point, households consume a bare minimum level of energy and should be considered energy poor. This approach was applied using cross-sectional data from a comprehensive 2004 household survey representative of rural Bangladesh. The findings suggest that some 58 percent of rural households in Bangladesh are energy poor, versus 45 percent that are income poor. The findings also suggest that policies to support rural electrification and greater use of improved biomass stoves might play a significant role in reducing energy poverty.
►We estimate energy poverty for rural Bangladesh adopting a demand-based approach. ►Findings suggest that energy poverty does not necessarily follow the same pattern as income poverty. ►Access to modern energy and efficient use of traditional energy help alleviate energy poverty. ►Energy poverty indicator can help track the effectiveness of a wide range of energy policies.
When Poland and Ukraine introduced their political, social and economic system reforms at the beginning of the 1990s, both economies were at a similar level of economic development (GDP $9,500 per ...capita). However, in 2018, Ukrainian GDP per capita had remained at the same levels since 1991, while in Poland, it had increased significantly, to more than $27,000 per capita. This book assesses the reasons for the growing gap between the level of economic development in Ukraine and Poland. It examines the course of events and evaluates the effectiveness of the system transformations, both in the context of the economy, as a whole, and in individual regions (Polish ‘voivodeships’ (provinces) and Ukrainian ‘oblasts’). It also analyzes the consequences of the 2008–2009 Ukrainian-Russian gas conflict and 2013–2014 Euromaidan events for the Ukrainian economy. Additionally, the authors offer an insight into the migration movements, which have recently been observed in Poland and Ukraine. This is the first comprehensive, comparative analysis concerning the spatial diversification of economic development in these two countries, and the authors highlight the ways in which these reforms have proved effective in Poland and hardly effective in Ukraine. This analysis helps to identify the basic interrelations between the core macroeconomic variables at the regional level and the impact of political events from both a national and regional perspective. The book will appeal to academics, researchers and policy makers interested in the economic and political changes in these two countries, in a comparative setting and on national and regional levels, as well as those working on issues of EU integration.
The role of natural resources in promoting economic and financial activities is important for attaining country's economic growth. The study used different natural resource rents, domestic ...investment, trade openness, per capita income and their resulting impact on financial development in order to assess ‘financial resource curse’ hypothesis in Pakistan by using a consistent time series data from 1975 to 2017. The study employed ARDL-Bounds testing approach that is fairly worked under different order of integrated variables and displayed short- and long-run parameter estimates. Further, the study used VAR decomposition analysis to generate Impulse Response Function (IRF) and Variance Decomposition Analysis (VDA) to assessed forecasted variance and error shocks over a next 10 year time period. The results show that, in the short-run, initial level of forest rents and oil rents supported the ‘natural resource abundance’ hypothesis, as both the rents substantially increases country's financial development, however, in the long-run, there is a negative relationship of coal rents, forest rents, natural gas rents, and oil rents with domestic credit to private sector (DCPS), which confirmed the ‘natural curse hypothesis’ in a country. The domestic investment in the form of gross fixed capital formation (GFCF) largely supported the financial activities with all given resource rents in the models, while country's per capita income unable to signify its positive impact on DCPS under the resource curse environment during the study time period. The other results show that coal rents and oil rents decreases broad money supply whereas natural gas rents decreases market capitalization to validate ‘financial resource curse’ hypothesis in a country. The results of IRF and VDA approach confirmed the viability of both the competing natural resource theories (i.e., financial resource curse and financial resource blessing hypothesis) under financial development in the next 10 year time period.
•The study evaluated ‘financial resource curse’ hypothesis in Pakistan.•Financial development is shown by domestic credit to private sector, M2, and market capitalization.•Coal, natural gas, oil, and forest rents are used as indicators of natural resource abundance in a country.•The study verified ‘financial resource curse’ hypothesis in all of the four stated natural resource rents.•The domestic investment, trade, and continuing economic growth significantly affect country's financial development.
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