Assessment of the heterogeneous impacts of global value chain participation on Sustainable economic growth and environmental quality.

The Global Value Chain (GVC) is an essential aspect of sustainable economic growth and environmental quality in countries that participate in it. Therefore, comprehending the relationship between GVC and economic growth and carbon emissions is critical to achieving global climate neutrality targets. However, there is a paucity of knowledge regarding the impacts of disaggregated levels of GVC on economic growth and carbon emissions in countries with different income levels. In this study, we utilized the SYS-GMM model to explore the relationships between backward and forward GVCs and the economic growth and carbon emissions of 42 lower-middle, 36 middle-upper, and 48 high-income countries using data from 1995 to 2018. Our key findings suggest that forward GVC significantly increases economic growth and reduces CO2 emissions. Conversely, backward GVC reduces the economic growth and CO2 emissions of high-income countries. We also found that upper-middle-income economies can enhance their economic growth and reduce CO2 emissions by increasing their backward GVC. In contrast, lower-middle-income economies can increase their economic growth by participating in both forward and backward GVCs. However, higher levels of participation in both GVC components result in increased CO2 emissions. Our findings emphasize the importance of considering income levels when analysing the impact of GVC participation on economic growth and environmental sustainability. Overall, the relationship between economic growth and CO2 emissions with backward and forward GVCs varies significantly across country categories.

Exploring the concepts of decent work through the lens of SDG 8: addressing challenges and inadequacies.

Promoting decent work and sustainable economic growth within the framework of Sustainable Development Goal 8 (SDG 8) entails addressing gender inequality, the consequences of market economies, and the role of the informal sector while also considering environmental sustainability. Research on SDG 8 remains limited, often adopting an appraisal perspective, and the concept of decent work within this goal remains relatively unexplored. Additionally, the focus on the challenges and inadequacies of achieving sustainable economic growth through decent work in the context of SDG 8 is insufficient, resulting in significant knowledge gaps. To contribute to filling these gaps, this paper adopts a descriptive and critical review perspective, systematically analyzing 108 journal papers and reports to investigate the concept of decent work within SDG 8. The research addresses the challenges and inadequacies related to decent work embedded in SDG 8. The review reveals that while progress has been made in tackling gender inequality in the labor market, gender bias, income discrepancies, and underrepresentation of women in senior positions persist, hindering inclusive and sustainable economic growth, full and productive employment, and decent work for all - SDG 8. Moreover, SDG 8's focus on inclusive and sustainable development falls short of effectively addressing market economies' structural disparities, insecure working conditions, and exploitative labor practices. Additionally, support for informal sector workers, who lack essential rights such as legal protection and social security, remains insufficient. Ecological destruction is sometimes an unintended consequence of purely market-based labor markets with an emphasis on economic growth, with SDG 8 lacking sufficient integration of environmental sustainability in its framework. The novelty of this study comes from its in-depth, critical, and policy-focused analysis of the ideas around decent employment in the context of SDG 8. The findings underscore the importance of providing fair, safe, and secure employment opportunities to support economic growth and development while upholding workers' rights. In conclusion, we emphasize the crucial role of promoting decent work and sustainable growth in achieving SDG 8's overall objectives, as it directly impacts other SDGs.

Unraveling the interplay between globalization, financial development, economic growth, greenhouse gases, human capital, and renewable energy uptake in Indonesia: multiple econometric approaches.

Addressing global environmental concerns requires the widespread adoption of renewable energy sources. More research is needed to examine the relationships between renewable energy (RE) and globalization, economic growth, and environmental quality in Indonesia. Therefore, we examined how renewable energy usage in Indonesia has changed due to the dynamic effects of globalization, financial development, and environmental quality. Time-series data were analyzed using an autoregressive distributed lag (ARDL) model to test for cointegration and long-run/short-run dynamics between 1990 and 2020. In addition to ARDL bounds testing, we used the Johansen and Engle-Granger cointegration methods for confirmation. Globalization, financial progress, human capital, greenhouse gas emissions, and economic expansion have favorable long- and short-term effects on renewable energy sources. Globalization has enabled Indonesia to expand trade, FDI, and financial investment. It has also increased energy-efficient technology use due to environmental policies. The computed results are robust enough to substitute estimators, such as dynamic ordinary least squares (DOLS), fully modified least squares (FMOLS), and canonical cointegrating regression (CCR). We recommend the implementation of policies that support financial and environmental development by utilizing renewable resources and increasing investments in renewable energy ventures.

How does digital finance affect sustainable economic growth? Evidence from China.

Digital finance is an innovative financial model of great significance for sustainable economic growth. By constructing indicators of sustainable economic growth, we explore the impact of digital finance on sustainable economic growth using the fixed effect model, mediating effect model, threshold regression model, and dynamic spatial Dubin model. The study finds that digital finance can drive sustainable economic growth, and the robustness and endogenous treatment results strongly verify this. Digital finance promotes sustainable growth mainly through technological innovation. In addition, with technological innovation and the development of renewable energy, there is a significant nonlinear relationship between digital finance and sustainable economic growth. Finally, the spatial spillover effect results show that digital finance's impact on sustainable economic growth has a positive effect, whether it is a direct effect or an indirect effect. This article provides possible ideas for digital finance to promote sustainable economic growth.

Relevance of oil price, military expenditure and exports to achieve the Saudi Arabian sustainable economic and environmental objectives: a non-linear ARDL approach.

This study investigates the economic and environmental issues of Saudi Arabia, a net exporter of crude oil mainly relying on oil exports, which faces economic crises due to the decline in oil prices. For this purpose, we highlighted the main challenges of the Saudi economy, such as oil price shocks and a significant increase in military expenditures. The economic and environmental issues are vital for the country's development and sustainability. Saudi Arabia is a major exporter of fossil fuels, which threatens its long-term economic growth due to the global transition towards renewables. Also, heavy dependence on fossil fuels is deteriorating the environment as well. On account of this, we extended the Solow growth model by augmenting oil prices, military expenditure, and exports. Similarly, the autoregressive distributed lag (ARDL) bound testing approach is used to find the long-term as well as the short-term nexus between variables. The study provides innovative findings regarding the country's role in oil price fluctuations, exports, and heavy military expenditures. In the short run, higher oil prices are increasing the economic process. In the long run, higher oil prices have a significant and negative impact. Military expenditure and exports have a significant and positive relationship with economic growth in the case of long-run analysis. For carbon emissions, the rise in oil prices helps reduce carbon emissions. In comparison, higher exports are also responsible for carbon emissions. The study proposes innovative and fruitful policies regarding the economic prosperity of Saudi Arabia, such as increasing the military expenditure to maintain peace in the region and increasing the exports of oil products, as well as non-oil products, to have shelter from oil price shocks.

Impact of Coronavirus Disease COVID-19 on the Relationship between Healthcare Expenditures and Sustainable Economic Growth.

The coronavirus disease (COVID-19) pandemic led to a catastrophic burden on the healthcare system and increased expenditures for the supporting medical infrastructure. It also had dramatic socioeconomic consequences. The purpose of this study is to identify the empirical patterns of healthcare expenditures' influence on sustainable economic growth in the pandemic and pre-pandemic periods. Fulfilment of the research task involves the implementation of two empirical blocks: (1) development of a Sustainable Economic Growth Index based on public health, environmental, social, and economic indicators using principal component analysis, ranking, Fishburne approach, and additive convolution; (2) modelling the impact of different kinds of healthcare expenditures (current, capital, general government, private, out-of-pocket) on the index using panel data regression modelling (random-effects GLS regression). Regression results in the pre-pandemic period show that the growth of capital, government, and private healthcare expenditures positively influence sustainable economic growth. In 2020-2021, healthcare expenditures did not statistically significantly influence sustainable economic growth. Consequently, more stable conditions allowed capital healthcare expenditures to boost economic growth, while an excessive healthcare expenditure burden damaged economic stability during the COVID-19 pandemic. In the pre-pandemic period, public and private healthcare expenditures ensured sustainable economic growth; out-of-pocket healthcare expenditures dominantly contributed to the pandemic period.

The Dynamic Nexus of Fossil Energy Consumption, Temperature and Carbon Emissions: Evidence from Simultaneous Equation Model.

With the continuous increase in global fossil energy consumption, carbon dioxide emissions and the greenhouse effect have gradually increased. This study uses a simultaneous equations model to explore the dynamic nexus of fossil energy consumption, temperature, and carbon emissions in OECD and non-OECD countries, with panel data from 2004 to 2019. The results show that the improvement of international competitiveness has reduced the frequency of extreme weather in OECD and non-OECD countries, significantly reducing fossil energy consumption in non-OECD countries and carbon emissions in OECD countries. Sustainable economic growth has significantly reduced fossil energy consumption in OECD countries but increased carbon emissions, especially in non-OECD countries. In addition, in the short term, the improvement of international competitiveness has significantly reduced fossil energy consumption and carbon emissions in OECD and non-OECD countries. In the long term, the improvement of international competitiveness has a greater impact on reducing fossil energy consumption and carbon emissions in non-OECD countries and has a significant impact on reducing the frequency of extreme weather in OECD countries. Moreover, the long-term impacts of sustainable economic growth on fossil energy consumption and carbon emissions are more significant.

Realizing the Sustainable Development Goals through technological innovation: juxtaposing the economic and environmental effects of financial development and energy use.

The BRICS comprise of group of emerging market economies which are committed to achieving the Sustainable Development Goals agenda of the United Nations by the end of the year 2030. In this regard, it is critically important for these nations to sustain their annual rise in their economic growth rates while simultaneously declining the rate of discharge of carbon dioxide emissions. Against this backdrop, this study aims to investigate how financial development, greater primary energy consumption, and technological innovation affect the prospects of the BRICS nations in achieving economic and environmental sustainability. Considering the period from 1990 to 2020 and utilizing methods that are robust to working with cross-sectionally dependent, heterogeneous, and endogenous panel data, the key analytical findings derived in this study reveal that higher levels of financial development, primary energy consumption, and technological innovation boost the per capita economic growth rates of the BRICS nations. Besides, technological innovation also moderates the financial development-economic growth and the primary energy consumption-economic growth nexuses by jointly boosting economic growth rates with these two macroeconomic variables. On the other hand, financial development and higher primary energy consumption are seen to boost the annual per capita carbon dioxide emission growth in these emerging nations, while technological innovation is observed to do the opposite. Furthermore, technological innovation is witnessed to moderate the nexus between energy use and economic growth to further reduce the emission growth rate in the BRICS nations. Accordingly, a set of policies are recommended to the concerned governments in order to enable the BRICS nations to attain the Sustainable Development Goals agenda.

Legal Environment, Technological Innovation, and Sustainable Economic Growth.

The productivity gains generated by innovation are the root cause of long-term economic growth. In this paper, two empirical hypotheses are proposed to clarify our view: the trade turnover of technology market and intellectual property protection are important factors to stimulate innovation; The main channel of communication is through the increase of research staff and R&D funds. The empirical research result show that: (1) The greater the technology trade volume, the greater the incentive to regional innovation activities, the greater the number of regional patents; (2) About the intellectual property protection, The higher the protection intensity is, the greater the incentive is to regional innovation activities and the greater the number of regional patents. Different from relevant researches, this paper discusses the decisive role of market activity and legal environment on regional innovation behavior from the perspective of technology trade and patent protection, and emphasizes the theoretical significance of market and legal system from a more general perspective.

How Does the Labor Protection Law Affect Sustainable Economic Growth: An Empirical Analysis Based on Psychological Contract Perspective.

This article studied the influence of Labor Contract Law and employee psychological contract on enterprise investment and sustainable economic growth. The results indicate that the Labor Protection Law has no significant influence on the investment of state-owned enterprises. In the early stage of the implementation of Labor Protection Law, the Labor protection Law will observably reduce the investment level of private enterprises, and this effect is more obvious in labor-intensive industries and small and medium-sized enterprises. However, in the later stage of the implementation of Labor Protection Law, the impact of Labor protection Law on the investment of private listed companies is weak. The results indicate that the Labor protection Law increases the illegal costs of private enterprises, reduces the flexibility of employment, and ultimately reduces the investment level of enterprises. Moreover, our article examines the impact of the Labor protection Law on regional economic growth, and finds that the Labor protection Law will significantly reduce the regional GDP growth rate in China, and this effect is mainly reflected in the regions where private enterprises provide more jobs and the proportion of private economy is high. This article takes China's emerging markets as the background, on the one hand, expands the relevant research on labor market friction from the viewpoint of enterprise investment and economic growth, on the other hand, provides new evidence for state-owned enterprises to fulfill social goals.

Toward Economic Growth and Value Creation Through Social Entrepreneurship: Modelling the Mediating Role of Innovation.

The concept of social entrepreneurship emerged as a significant factor that contributes toward public welfare and prosperity. Recent studies showed that social entrepreneurship influences the economic growth and sustainability of the state. Therefore, the underlying aim of this study was to investigate the impact of social entrepreneurship on sustainable economic growth and value creation. This study also undertook to observe the mediating role of innovation in the relationship between social entrepreneurship and sustainable economic growth and between social entrepreneurship and value creation. A questionnaire technique was adopted to obtain data from 343 tour operators in China. The Smart-PLS software was used to analyze the data through the aid of a structural equation modelling (SEM) technique. The results revealed that social entrepreneurship has an effect on sustainable economic growth and value creation. The results also demonstrated that innovation has an effect on sustainable economic growth and value creation. Moreover, it was also observed that innovation mediated the relationship between social entrepreneurship and sustainable economic growth and between social entrepreneurship and value creation. Theoretically, this study made a valuable contribution by examining the impact of social entrepreneurship on sustainable economic growth and value creation and innovation as a mediator. In terms of practical implications, this study would certainly aid the policymakers to devise policies and strategies aim to encourage and promote social entrepreneurship. Moreover, future studies can introduce other mediating and moderating variables in order to gain a deeper insight into the phenomenon.

Understanding the dynamics of natural resources rents, environmental sustainability, and sustainable economic growth: new insights from China.

There is a close relationship between natural resources and production in many sectors, and production and consumption can also have an environmental impact. Low environmental quality affects economic growth and well-being. Environmental protection and economic growth cannot be maximized simultaneously. Choosing the right balance between the two aims is imperative for each country. By moderating the role of merchandise trade and manufacturing value-added from 1970 to 2016, we examine the dynamics of China's natural resource rents, environmental sustainability, and sustainable economic growth. Overall, the results of this study indicate that natural resources improve environmental sustainability at the expense of economic growth. In contrast, financial development, merchandise trade, and urban population growth promote environmental degradation. It is vital to understand governance mechanisms to sustain natural resource policies, considering environmental, social, and governance concerns to benefit society.

An outlook on the development of renewable energy, policy measures to reshape the current energy mix, and how to achieve sustainable economic growth in the post COVID-19 era.

Currently, COVID-19 due to emergence of various variants shows no signs of slowing down and has affected every aspect of life with significant negative impact on economic and energy structures around the world. As a result, the governments around the world have introduced policy responses to help businesses and industrial units to overcome the consequences of compliance with COVID-19 strategies. Our analysis indicates that global energy sector is one of the most severely affected industries as energy price mechanisms, energy demand, and energy supply have shown great uncertainty under these unprecedented economic and social changes. In this regard, we provide brief overview of demand, supply, and pricing structure of energy products as well as policy mechanisms to provide better outlook about how industrial sector can cope with energy consumption in the post pandemic era. We further propose changes in the existing policy mechanisms so that transition towards renewable energy sources under different environmental agreements can be achieved. Moreover, as a reference, we outline major challenges and policy recommendations to ease energy transition from fossil fuels to environmental friendly energy mix.

The effects of Environmental Kuznets Curve toward environmental pollution, energy consumption on sustainable economic growth through moderate role of technological innovation.

South Asia is a hub for encompassing air contamination, with 37 of the top tiers of the 40 most contaminated urban communities around the globe (IQAIR, 2020). From this perspective, this research aims to explore the validity of the Environmental Kuznets Curve while controlling for the impacts of technological innovation and energy consumption on the sustainable economic growth-environmental pollution nexus in the backdrop of South Asian economies by using panel dataset from 1998 to 2018. Therefore, this analysis adopts a fully modified ordinary least square (FMOLS) approach for examination, which affirms the EKC hypothesis existence, suggesting that the environment in South Asia is deteriorating while technological innovations have moderated the impact. Moreover, the empirical findings indicate that energy consumption as well as technological innovations both have a significant positive impact on the CO2 emanations, which harms biodiversity.

Designing policy framework for sustainable development in Next-5 largest economies amidst energy consumption and key macroeconomic indicators.

Global travel and tourism have enjoyed a significant boost due to the progress in air transport. However, the debate on air transport and the influx of foreign investments and global energy demand on economic development remains questionable. Therefore, this study is an attempt to contribute to the body of knowledge in the energy-tourism-led growth hypothesis literature. For this purpose, a novel approach to the effects of international tourism on economic growth is introduced for the Next-5 largest economies, namely (China, India, Indonesia, Turkey and the USA) between 1990 and 2018. Empirical results reveal a positive connection between foreign direct investment and income levels, electricity production and income levels, as well as between urbanization and economic growth. Moreover, the validation of the environmental Kuznets curve and the halo effect of foreign direct investment on the environmental degradation process provides a shred of more substantial evidence and fitting environmental instruments for policymakers. The empirical results encourage sustainable economic growth in these countries, mainly through the attraction of clean and high-technology foreign investment, the increase of the share of renewable energy sources in the energy mix and the regulation in the tourism industry. The novel contribution of this study to the empirical literature is the unification in the same research of the TLGH and the EKC for the Next-5 largest economies, establishing recommendations for tourism, energy efficiency and environmental correction process.

The relationship between renewable energy sources and sustainable economic growth: evidence from SAARC countries.

The purpose of this study is to examine the relationship between renewable energy sources and sustainable economic growth of the South Asian Association for Regional Cooperation (SAARC) countries. This study uses three main renewable energy sources such as geothermal, hydro and wind. This study collects dataset from SAARC countries from 1995 to 2018. This study applies a fixed-effect test and panel vector error correction model (PVECM) test for data analysis. The overall results show that all three renewable energy sources have positively significant impacts on economic development among SAARC countries' economies. Moreover, the hydropower renewable energy source has more effects and influences on economic growth as relatively compared with the rest of the two individual sources of renewable energy.

Green Supply Chain Management With Sustainable Economic Growth by CS-ARDL Technique: Perspective to Blockchain Technology.

Logistics plays a major part in any country's or region's economic success. Logistics performance depends upon the trade between other countries and urbanization. Urbanization has major role in logistics performance. However, being a significant energy user, logistics has negative consequences. As the logistics performance increases, carbon emissions increase as well because of more transportation and urbanization. Logistics performance has positive effects related to trade openness which reduces carbon emissions. As a result, it is necessary to understand function of logistics from both economic and environmental standpoint. Logistics performance is affected by urbanization of any region. The dataset for this research is made up of 10 Asian nations with 550 observations from 2010 to 2018 and is based on the theoretical underpinnings of impact of population affluence and technology (IPAT) and stochastic impacts by regression on population affluence and technology (STIRPAT). After applying various tests like cointegration analysis, unit root test, cross-sectional dependence now long & short-term relation of variables is studied by Cross-sectionally augmented autoregressive distributed lag (CS-ARDL). As indicated by the discoveries, the logistic performance index (LPI) is basically effective on economic growth and carbon emissions, particularly when related to IPAT and STIRPAT. The findings are reviewed, and policy implications are offered, which say that current logistical infrastructure should be transformed to more environmentally friendly operations. Finally, the limits are acknowledged, as well as future research possibilities that should be pursued.

Bioeconomy moving forward step by step - A global journey.

Continuous, inspiring and interconnected step-by-step changes in thought and understanding, knowhow, actions and behaviour have often been instrumental in transitions from one particular age to the next in human history. This also applies to the present century and its sustainability challenges at the planetary, regional and local levels. Therefore, it is of great importance and relevance to move forward on the journey which has been started globally to address the not insignificant number of challenges. It is however essential to go beyond descriptive work by continuing with novel, inspiring and interconnected steps to find solutions to overcome these challenges. As this huge task also requires multidimensional communication, understanding and actions across different regions, cultures, disciplines and knowledge areas, the development of a common conceptual framework such as the concept of bioeconomy has been accepted globally as very valuable. The momentum which has been created in more than 50 countries around the world by the growing number of activities, initiatives and strategies in bioeconomy is very encouraging. This offers great opportunities to mobilize even more stakeholders in science and industry, as well as society, to join the bioeconomy journey. Strategic high-level concepts such as preserving the value of the natural capital of planet earth, connecting economy and ecology, sustaining the boundary conditions and habitability of our biosphere are highly important. It is also essential on the bioeconomy journey to connect with highly specific and actionable missions, programs and plans towards sustainable economic growth under the boundary conditions of our planet.

Dynamics of renewable energy consumption and economic activities across the agriculture, industry, and service sectors: evidence in the perspective of sustainable development.

This study aims to examine the impact of renewable and non-renewable energy consumption on the agriculture, industry, services, and overall economic activities (GDP) across a panel of G20 nations. The study makes use of annual data from 1980 to 2012 on 17 countries of the G20. To achieve the study objectives, we apply several robust panel econometric models which account for cross-sectional dependence and heterogeneity in the analysis. The empirical findings confirm the significant long-run equilibrium relationship among the variables. The long-run elasticities indicate that both renewable and non-renewable energy consumptions have significant positive effect on the economic activities across the sectors and also on the overall economic output. These results also imply that the impact is more from renewable energy on economic activities than that of non-renewable energy. Given that, our results offer significant policy implications. We suggest that the policy makers should aim to initiate effective policies to turn domestic and foreign investments into renewable energy projects. This eventually ensures low carbon emissions and sustainable economic development across the G20 nations.

Promoting sustainable economic growth and industrialisation: solution to mass unemployment and poverty.

This paper analysed the twin-problems of unemployment and poverty. The methodology adopted in the analyses was a combination of the historical and logico-mathematical research perspectives. The results showed that the technologically advanced nations (TANs) experienced mass unemployment, low productivity, high inflation and prevalent poverty problems for many centuries before they achieved industrial revolution (IR). When they achieved the modern IR, not only did the mass unemployment problem disappear, but also, there were not enough adults persons to fill the employment openings created by the industrialisation. Consequently, industrialists resorted to employing children who worked in factories for many hours everyday, and prevented them from receiving education. Unemployment and poverty, therefore are symptoms of stagnation and lack of industrialisation (the disease). The long-term solution to mass unemployment and poverty therefore is industrialisation, for there is no industrialised nation that is poor. The short-term solution is promoting sustainable economic growth and competence-building. However, because achieving sustainable economic growth, competence-building and industrialisation are learning processes, Nigeria and other developing nations need to develop good educational systems. They should also establish suitable frameworks for training university graduates, scientists and engineers in particular in a curriculum-based scheme to acquire complementary practical skills in the economy outside campuses. This is how the poor nations can achieve sustainable growth, build-up individual and national competence, promote industrialisation and eliminate unemployment and poverty problems, speedily.