Economies

Research

20 pages, 1192 KiB

Open AccessArticle

Comparative Analysis between Quality of Life and Human Labor in Countries Belonging to G7 and BRICS Blocks: Proposition of Discriminant Analysis Model

by Gustavo Carolino Girardi, Priscila Rubbo, Evandro Eduardo Broday, Maik Arnold and Claudia Tania Picinin

Economies 2024, 12(5), 124; https://doi.org/10.3390/economies12050124 - 18 May 2024

Viewed by 353

Abstract

The aim of the present research is to identify and analyze the variables which help to effectively differentiate Quality of Life (QoL) and human labor in the G7 (Germany, France, Italy, Canada, Japan, United Kingdom, and United States of America—USA) and BRICS countries [...] Read more.

The aim of the present research is to identify and analyze the variables which help to effectively differentiate Quality of Life (QoL) and human labor in the G7 (Germany, France, Italy, Canada, Japan, United Kingdom, and United States of America—USA) and BRICS countries (Brazil, Russia, India, China, and South Africa) through a discriminant analysis. A discriminant analysis model is developed to classify countries as having a low, mid, or high QoL based on QoL and human labor variables. The variables used in the discriminant analysis were obtained between 2010 and 2022 from two platforms: NUMBEO variables capable of relating QoL to socioeconomic aspects and OECD’s (Organization for Economic Cooperation and Development) human-labor-related variables. Based on the results, the three variables that most discriminate the groups in order of importance are employed women in relation to the female population, the female labor force participation rate, and the female unemployment rate. Countries are classified as having a low, mid, or high QoL. The adopted technique will allow researchers and managers to classify and draw goals for action reorganization and investment in QoL and labor. Full article

(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)

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18 pages, 1965 KiB

Open AccessArticle

Analyzing the Impact of Public Capital on Private Capital Productivity in a Panel of African Nations

by Elhadj Ezzahid and Hamid Rafik

Economies 2024, 12(5), 118; https://doi.org/10.3390/economies12050118 - 14 May 2024

Viewed by 475

Abstract

This research contributes to the ongoing discourse concerning the efficiency of public capital and its influence on the productivity of private capital and total factor productivity within African economies. Employing the standard production approach, we include public capital as a distinct input to [...] Read more.

This research contributes to the ongoing discourse concerning the efficiency of public capital and its influence on the productivity of private capital and total factor productivity within African economies. Employing the standard production approach, we include public capital as a distinct input to assess its specific impact on output growth and the enhancement of total factor productivity. We argue that public capital, predominantly manifesting through infrastructure, constitutes an indispensable element for fostering growth. Fundamental to the productivity of private capital is its reliance on a sufficient stock of public infrastructure for operational efficiency. Our empirical analysis reveals that public capital exhibits a substantive long-term influence on output growth and the productivity of private capital. However, in the short term, the discernible impact of public capital is less pronounced. Moreover, while public capital emerges as a noticeable factor in output growth, its influence on total factor productivity remains relatively subdued. Full article

(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)

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22 pages, 827 KiB

Open AccessArticle

Empowering Pakistan’s Economy: The Role of Health and Education in Shaping Labor Force Participation and Economic Growth

by Muhammad Umair, Waqar Ahmad, Babar Hussain, Costinela Fortea, Monica Laura Zlati and Valentin Marian Antohi

Economies 2024, 12(5), 113; https://doi.org/10.3390/economies12050113 - 9 May 2024

Viewed by 640

Abstract

The labor force is a crucial factor in conducting economic activities, especially in labor-surplus countries like Pakistan. In this study, we explore the impact of labor force participation (LF) on economic growth (EG), with an emphasis on how this impact depends on the [...] Read more.

The labor force is a crucial factor in conducting economic activities, especially in labor-surplus countries like Pakistan. In this study, we explore the impact of labor force participation (LF) on economic growth (EG), with an emphasis on how this impact depends on the levels of health and education expenditures. We analyze time series data from Pakistan spanning from 1980 to 2022, using ARDL (Autoregressive Distributed Lag), ECM (Error Correction Model) and Granger causality techniques for empirical analysis. The ARDL results indicate that LF significantly boosts EG, both in the short and long run. Furthermore, the estimations reveal that better facilities for health and education strengthen the positive effects of LF on EG. This suggests a complementary relationship between health, education, and LF in driving EG. Moreover, our findings highlight the temporal significance of health and education: Health plays a more crucial role in the short run, while education’s impact is more substantial in the long run. Furthermore, the Granger causality results indicate that LF, health, and education significantly contribute to EG. It is advisable for the government to prioritize investments in the health and education sectors. This approach can empower individuals to actively and effectively participate in economic activities, eventually contributing to the overall economic output of the nation. Full article

(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)

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25 pages, 4308 KiB

Open AccessArticle

Exploring Trends in Innovation within Digital Economy Research: A Scientometric Analysis

by Lazuardi Imani Hakam, Eeng Ahman, Disman Disman, Hari Mulyadi and Dzikri Firmansyah Hakam

Economies 2023, 11(11), 269; https://doi.org/10.3390/economies11110269 - 1 Nov 2023

Viewed by 3488

Abstract

Significant advancements have been made in studying innovation within the digital economy over the past 20 years. Research on innovation and the digital economy is crucial since it changes all facets of human existence, including business models and entrepreneurial trends. Research regarding innovation [...] Read more.

Significant advancements have been made in studying innovation within the digital economy over the past 20 years. Research on innovation and the digital economy is crucial since it changes all facets of human existence, including business models and entrepreneurial trends. Research regarding innovation in the digital economy has experienced growth over time. However, only a small number of research works have investigated their references using the most widely utilized citation mapping approach, scientometric analysis. This scientometric analysis used 822 published innovation and digital economy research papers from 2000 to August 2023 from the Scopus database. Data analysis and visualization were carried out using biblioshiny (bibliometric package) in R and VOSviewer. According to the data, the study on innovation within the digital economy has grown by 22.75% yearly since 2000. This study offers valuable insight for society, academics, academic institutions, researchers, policymakers, and businesses. The findings reveal the pivotal aspects of the research, derived from the most frequently referenced subjects, publications, authors, and keywords to determine current and future trends in innovation in the digital economy. Full article

(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)

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14 pages, 297 KiB

Open AccessArticle

The Effect of the Digital Economy on the Employment Structure in China

by Yantong Zhao and Rusmawati Said

Economies 2023, 11(9), 227; https://doi.org/10.3390/economies11090227 - 4 Sep 2023

Cited by 3 | Viewed by 3404

Abstract

The digital economy’s influence on society and the traditional economy is deepening, owing to the wide application of digital technology in production and life. The question of how the digital economy affects the employment structure has become a hot issue to discuss. To [...] Read more.

The digital economy’s influence on society and the traditional economy is deepening, owing to the wide application of digital technology in production and life. The question of how the digital economy affects the employment structure has become a hot issue to discuss. To explore the impact of the digital economy on the labour structure, this paper selected China’s thirty-one provincial panel data between 2013 and 2020 and utilized the static panel model. On the whole, the proportion of employment in the secondary sector to the total employment rate is declining with the development of the digital economy. The proportion of employment in the tertiary sector to the total employment has increased due to enhancement in the degrees of development in the digital economy. From the perspective of different regions, in the eastern and middle part, improvement in the digital economy has reduced the proportion of employment in the primary sectors to the total employment rate while increasing the proportion of employment in the tertiary sector to the total employment rate and optimizing the industrial structure. Employment in the manufacturing and construction industries in the secondary sector is significantly negatively affected by the development of the digital economy. In addition, the mining industry and utility employment (Production and Supply of Gas, Heat, Water, and Electricity) are not significantly affected by the progress of the digital economy. Full article

(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)

18 pages, 2724 KiB

Open AccessArticle

The Role of Greener Innovations in Promoting Financial Inclusion to Achieve Carbon Neutrality: An Integrative Review

by Mohsen Brahmi, Luca Esposito, Anna Parziale, Karambir Singh Dhayal, Shruti Agrawal, Arun Kumar Giri and Nguyen Thi Loan

Economies 2023, 11(7), 194; https://doi.org/10.3390/economies11070194 - 17 Jul 2023

Cited by 19 | Viewed by 2518

Abstract

In recent times, the green transition, by promoting carbon neutrality, has become highly imperative to meet environmental challenges. The present literature review study seeks to explore the intersecting role of greener innovations in facilitating financial inclusion for a sustainable future. Within the global [...] Read more.

In recent times, the green transition, by promoting carbon neutrality, has become highly imperative to meet environmental challenges. The present literature review study seeks to explore the intersecting role of greener innovations in facilitating financial inclusion for a sustainable future. Within the global agenda is the goal of carbon neutrality, with the aim of reducing environmental impact and mitigating climate change. Aim: The present study aims to investigate the role that technological innovations play in the financial inclusion of achieving climate neutrality. Method: Through a systematic literature review, we investigate how new innovations generate new investment opportunities and promote sustainable development. However, fair, accessible, and inclusive financing is crucial. Findings: the analyzed documents in this study shows that technological innovations can play an important role in financial inclusion for carbon neutrality and provide some important policy implications. Indeed, a favorable regulatory environment could generate positive effects already in the short term, with important environmental, economic, and social repercussions. Full article

(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)

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13 pages, 526 KiB

Open AccessArticle

The Impact of Openness on Human Capital: A Study of Countries by the Level of Development

by Thi Bich Thuy Dao and Van Quy Khuc

Economies 2023, 11(7), 175; https://doi.org/10.3390/economies11070175 - 25 Jun 2023

Cited by 1 | Viewed by 2850

Abstract

This study investigates the impact of openness on human capital in 112 countries worldwide in 2000–2019. An two-stage least square fixed-effect model with instrumental variables is used to unravel the complicated relationship between human capital and its key determinants. The empirical results show [...] Read more.

This study investigates the impact of openness on human capital in 112 countries worldwide in 2000–2019. An two-stage least square fixed-effect model with instrumental variables is used to unravel the complicated relationship between human capital and its key determinants. The empirical results show that the impacts of openness vary greatly among different groups of countries. For example, while FDI has no effect on human capital in developed and upper-middle-income developing countries, its effect is positive in lower-middle-income countries and negative in low-income countries. Exports stimulate human capital formation in developed countries but in low-income developing countries, they act as an impediment to human capital formation. Imports have a positive effect on human capital in developing countries; however, in developed countries, the effect of imports on human capital is negative. International cooperation effectively raises the level of human capital in developed, upper-middle-income and low-income countries; however, it has no effect in lower-middle-income countries. In light of mindsponge—mindspongeconomics and the SM3D knowledge management system, the study’s findings particularly shed light on the long-term development roadmap associated with human capital and openness expansion in less developed and emerging countries in years to come. Full article

(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)

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17 pages, 348 KiB

Open AccessArticle

Determinants of Digital Innovation in Micro and Small Industries

by Martini Martini, Doddy Setiawan, Retno Tanding Suryandari, Rayenda Khresna Brahmana and Andi Asrihapsari

Economies 2023, 11(6), 172; https://doi.org/10.3390/economies11060172 - 20 Jun 2023

Cited by 3 | Viewed by 1962

Abstract

Micro and small industries (MSIs) must utilize digital technology if they hope to meet obstacles and endure in a market that is always evolving owing to technological advancements. This study aims to examine the capacity of business factors, marketing factors, constraint factors, credit [...] Read more.

Micro and small industries (MSIs) must utilize digital technology if they hope to meet obstacles and endure in a market that is always evolving owing to technological advancements. This study aims to examine the capacity of business factors, marketing factors, constraint factors, credit factors, entrepreneur factors, and firm factors as determinants of digital innovation proxied by internet adoption and internet usage levels (for communication and information, for promotion, for buying and selling, and for fintech). This study uses a sample size of 90,295 MSIs and secondary data from the MSIs survey in 2019. As analytical tools, logit and ordinary least square (OLS) were employed. The findings demonstrate that business factors, marketing factors, constraint factors, credit factors, entrepreneur factors, and MSIs’ firm factors are substantial and continuously affect digital innovation, and primarily its influence is as a motivator. These results will hopefully offer insights for the government as consideration regarding policies on how to encourage MSIs’ digital innovation, and for MSIs themselves as references when they are about to make digital innovation decisions. Full article

(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)

19 pages, 3570 KiB

Open AccessArticle

European Union Innovation Efficiency Assessment Based on Data Envelopment Analysis

by Meda Andrijauskiene, Dimosthenis Ioannidis, Daiva Dumciuviene, Asimina Dimara, Napoleon Bezas, Alexios Papaioannou and Stelios Krinidis

Economies 2023, 11(6), 163; https://doi.org/10.3390/economies11060163 - 9 Jun 2023

Cited by 3 | Viewed by 1600

Abstract

Though much attention is dedicated to the development of its research and innovation policy, the European Union constantly struggles to match the level of the strongest innovators in the world. Therefore, there is a necessity to analyze the individual efforts and conditions of [...] Read more.

Though much attention is dedicated to the development of its research and innovation policy, the European Union constantly struggles to match the level of the strongest innovators in the world. Therefore, there is a necessity to analyze the individual efforts and conditions of the 27 member states that might determine their final innovative performance. The results of a scientific literature review showed that there is a growing interest in the usage of artificial intelligence when seeking to improve decision-making processes. Data envelopment analysis, as a branch of computational intelligence methods, has proved to be a reliable tool for innovation efficiency evaluation. Therefore, this paper aimed to apply DEA for the assessment of the European Union’s innovation efficiency from 2000 to 2020, when innovation was measured by patent, trademark, and design applications. The findings showed that the general EU innovation efficiency situation has improved over time, meaning that each programming period was more successful than the previous one. On the other hand, visible disparities were found across the member states, showing that Luxembourg is an absolute innovation efficiency leader, while Greece and Portugal achieved the lowest average efficiency scores. Both the application of the DEA method and the gathered results may act as viable guidelines on how to improve R&I policies and select future investment directions. Full article

(This article belongs to the Special Issue Innovation, Productivity and Economic Growth: New Insights)

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