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Articles 931 - 960 of 20398
Full-Text Articles in Entire DC Network
Gender Gaps And Economic Growth: Why Haven't Women Won Globally (Yet)?, Patrick Agte, Orazio Attanasio, Pinelopi K. Goldberg, Charles Gottlieb, Aishwarya Lakshmi Ratan, Rohini Pande, Michael Peters, Charity Troyer Moore, Fabrizio Zilibotti
Gender Gaps And Economic Growth: Why Haven't Women Won Globally (Yet)?, Patrick Agte, Orazio Attanasio, Pinelopi K. Goldberg, Charles Gottlieb, Aishwarya Lakshmi Ratan, Rohini Pande, Michael Peters, Charity Troyer Moore, Fabrizio Zilibotti
Discussion Papers
Globally women’s labor force participation lags that of men and women, on average, have lower labor market earnings than men. Does economic growth reduce gender disparities in labor market outcomes between women and men? Conversely, do gender inequalities in the labor market impede growth? To inform these questions, we conduct two analyses. First, we estimate regressions using harmonized data on gender gaps in a range of labor market outcomes from 153 countries spanning two decades (1998-2018). Second, we conduct a systematic review of the recent economics literature on gender gaps in labor markets, examining 16 journals over 21 years. Our …
Technological Disruption And Regulatory Response: The Case Of Decentralised Finance, Jakub Wisła, Jolanta Bartoszewska
Technological Disruption And Regulatory Response: The Case Of Decentralised Finance, Jakub Wisła, Jolanta Bartoszewska
Journal of Banking and Financial Economics
This article examines responses to the regulatory challenges posed by decentralised finance (DeFi), a fast-evolving domain of blockchain-based financial innovation. It investigates the factors shaping divergent regulatory strategies, with a focus on the European Union’s comprehensive cryptoasset framework and selected comparative insights. Adopting a qualitative legal methodology – combining doctrinal-functional analysis, multivocal literature review, and two case studies – the authors explore how regulatory responses are influenced by three key variables: legal tradition, the financial function performed by blockchain-based solutions, and the level of technological and institutional autonomy. The case studies – Bitcoin as a payment instrument and cryptoassets as …
Musculoskeletal Disorders In Dentistry: An Insight Into Dental Techniques And Practices, Mehwash Kashif, Aman Ashar, Amna Rehman, Abdul Aleem, Sidra-Tul-Muntaha Hashmi, Muhammad Yousuf Ali
Musculoskeletal Disorders In Dentistry: An Insight Into Dental Techniques And Practices, Mehwash Kashif, Aman Ashar, Amna Rehman, Abdul Aleem, Sidra-Tul-Muntaha Hashmi, Muhammad Yousuf Ali
Journal of Dentistry Indonesia
Objective: Musculoskeletal disorders (MSDs) are common workplace hazards in dentistry resulting from poor ergonomics and static postures, which lead to back, neck, and upper limb (shoulder, elbow, wrist, and hand) problems among dentists, resulting in harm to their health, productivity, and career. This study aimed to assess the frequency of MSDs, risk factors related to MSDs, and awareness of ergonomics among clinicians. Methods: Data were collected from 400 dental professionals, including house officers, postgraduate trainees, general dentists, and teachers/consultants, each with at least 12 months of practice. Data were collected using a structured, closed-ended questionnaire. Before data collection, ethical approval …
Exploring The Relationship Between Entrepreneurial Ambidexterity And Academic Performance: The Moderating Role Of Digital Capabilities: Evidence From Public Universities Of Duhok Governance, Kurdistan Of Iraq, Zeravan Abdulrahman Omar
Exploring The Relationship Between Entrepreneurial Ambidexterity And Academic Performance: The Moderating Role Of Digital Capabilities: Evidence From Public Universities Of Duhok Governance, Kurdistan Of Iraq, Zeravan Abdulrahman Omar
Arab Economic and Business Journal
This study examines the impact of entrepreneurial ambidexterity, and the synchronization of exploratory and exploitative activities, on academic performance in university departments, and the role of digital capabilities in moderating this impact. Using a descriptive analytical approach, a questionnaire was distributed to 145 department heads at public universities in Duhok Governorate, Kurdistan Region of Iraq. The data were validated using SPSS version 29 and SmartPLS 4.1.1, both of which confirmed the study's hypotheses. The results revealed a direct, statistically significant, positive correlation between entrepreneurial ambidexterity and departmental academic performance. Furthermore, digital capabilities were found to have a significant positive performance-modifying …
The Elements Necessary For A Successful Startup, Ciaran Mcgurran
The Elements Necessary For A Successful Startup, Ciaran Mcgurran
Faculty Curated Undergraduate Works
This paper seeks to uncover what really goes into a startup company to get it off the ground, keep it afloat and growing, and mitigate competition through a case study focus on a software-aided investment-strategy building company. Through an interview of the founder and CEO of the case company as well as first-hand experience working in the company, this paper will seek to gain an understanding of the necessary elements and planning that must go into a startup company for it to have success. Additional online texts also provide supplementary general information on startups and how the planning process is …
Reading Between The Lines: The Influence Of Financial News On Investor Decision-Making, Kalia Noble
Reading Between The Lines: The Influence Of Financial News On Investor Decision-Making, Kalia Noble
Honors College Theses
This thesis investigates how financial media narratives shape investor sentiment and short-term market behavior. Drawing on behavioral finance and narrative economics, it examines whether the framing and tone of market news correlate with intraday volatility in the S&P 500 and Dow Jones Industrial Average. By pairing quantitative price data with contemporaneous headlines from major outlets such as Bloomberg, Yahoo! Finance, and CNBC, the study shows that emotionally charged or speculative narratives are closely associated with sharp market swings, even when fundamentals remain unchanged. These findings highlight the influence of media framing on investor decision-making and underscore the importance of financial …
Genetically Modified Crops In Africa: Evidence On Adoption, Economic Benefits, Environmental Effects, And Constraints, Aloyce Hepelwa, Innocensia John
Genetically Modified Crops In Africa: Evidence On Adoption, Economic Benefits, Environmental Effects, And Constraints, Aloyce Hepelwa, Innocensia John
Tanzanian Economic Review
Africa faces deep food insecurity with over 300 million undernourished people driven by, low agricultural productivity, and climate shocks. To enhance food production and sustainable development, there is potential seen in genetically modified (GM) crops. To explore the potential of GM crops, this paper examines their production, adoption, economic and environmental impacts, adoption barriers, and policy implications in Africa and globally. This is done using a structured narrative review of peer-reviewed literature, reports, and policy documents (2014–2024) sourced from different databases complemented by stakeholder consultations. The findings show that GM has expanded considerably worldwide driven by high productivity, reduced pesticide …
Trading Posts And "Old Pawn": Diné Navajo Trade And The Native Art Industry, Dustin Roberto
Trading Posts And "Old Pawn": Diné Navajo Trade And The Native Art Industry, Dustin Roberto
Native American Studies Student Publications
"Old pawn" is widely used to describe antique Native American jewelry and goods once pawned for credit at trading posts in the Four Corners region. This article traces how the trading post pawn system influenced Diné Navajo economic life from 1868 through the 1970s, when federal regulators documented exploitative practices such as inflated interest, withheld mail, and items sold without notice. Weavers and individuals pawning jewelry typically received store credit or overvalued commodities instead of cash, a result of the power dynamics of the setting. Today, "old pawn" functions as a marketing label for vintage goods, often without documentation. The …
From Cafes To Competitiveness: The Influence Of Amenities On Office Values And Suburban Economic Development In Portland, Or, Jihye Kang
Dissertations and Theses
This dissertation examines the spatial and economic implications of urban amenities in the formation of suburban office markets in the post-pandemic period. The research applies principles from agglomeration theory, spatial econometrics, and urban planning to analyze the statistical relationships between amenity distribution, rent formation, and location behavior across central and non-central submarkets.
The research consists of three integrated papers focused on the Portland–Vancouver–Hillsboro, OR–WA Metropolitan Statistical Area (MSA). The first paper employs spatial econometric modeling, specifically a Spatial Autoregressive Model with Autoregressive Disturbances (SARAR), to examine the relationship between proximity to cafés and office rent levels in Portland’s central business …
Explaining Pension Trends And Recent Pension Performance, Nathan Jeppson, John A. Ruddy, David F. Salerno
Explaining Pension Trends And Recent Pension Performance, Nathan Jeppson, John A. Ruddy, David F. Salerno
Pennsylvania Economic Review
Due to significant unfunded liabilities, many employer-sponsored retirement plans both domestically and internationally are shifting away from defined benefit (DB) pension plans to defined contribution (DC) plans. This is especially the case in private industry. Many expected that the COVID-19 pandemic would cause the funding status of DB plans to worsen. However, the opposite occurred. This is primarily due to decreased life expectancies and improved financial market performance. We utilize a 2004-2021 dataset that contains state level GDP, revenue, pension, and life expectancy data to study U.S. state DB pension plans. We are able to explain over 80% of the …
Housing Burden And Insurance Expenditures, Melanie M. Lytell
Housing Burden And Insurance Expenditures, Melanie M. Lytell
Honors Capstones
Housing costs shape the way families spend on protection and security. This study looks at how the share of income devoted to housing, the housing burden, influences household spending on four types of insurance: vehicle, life, personal, and health. Using data from nearly 92,000 households and regression models that account for state differences, I find that even small increases in housing burden shift insurance choices in meaningful ways. A one‑percentage‑point rise in housing burden is linked to a 2.1% increase in vehicle insurance spending and a 0.5% increase in life insurance, but a 0.7% decrease in personal insurance and a …
Economics Of The Olympics: Impact Of Bidding For And Hosting The Olympic Games On International Openness, Adalynn Cherry
Economics Of The Olympics: Impact Of Bidding For And Hosting The Olympic Games On International Openness, Adalynn Cherry
Pennsylvania Economic Review
This study investigates how hosting and unsuccessfully bidding to host the Olympic Games impacts total international trade and influences a country’s openness. This relationship is analyzed using the gravity model of trade to perform a regression analysis of total trade levels from 2000 to 2018. The results of this study did not support the idea that hosting the Olympic Games impacts total trade; although, they did show a strong and permanent positive relationship between unsuccessfully bidding to host the Olympic Games and total international trade. These findings highlight the benefits of the Olympic bidding and candidature process as a policy …
Energetic And Economic Aspects Of Rebound: Part 1 & 2, Matthew Kuperus Heun, Gregor Semieniuk, Paul E. Brockway
Energetic And Economic Aspects Of Rebound: Part 1 & 2, Matthew Kuperus Heun, Gregor Semieniuk, Paul E. Brockway
University Faculty Publications and Creative Works
Presentation to Exergy Economics Network Fri, 5 December 2025
National Expenditure On R&D And International Comparison Of Productivity, Aegus Kim
National Expenditure On R&D And International Comparison Of Productivity, Aegus Kim
Pennsylvania Economic Review
A higher national expenditure on research and development (R&D) may lead to a higher level of productivity in the national economy because innovations can improve overall efficiency in production by increasing output per worker. Unlike other empirical studies which suggest the positive impact of R&D expenditure on productivity but are often the result from the firm level or the industry level, this paper investigates a positive correlation between R&D spending and productivity using the 2019 national data for the top 25 countries ranked by R&D expenditure. The paper focuses on the relationship between international values of total factor productivity (TFP) …
Exploring The Socioeconomic Determinants Of Abortion: Evidence From Pennsylvania, Guido Giuntini, Allyssa A. Wadsworth, Michael A. Malcolm
Exploring The Socioeconomic Determinants Of Abortion: Evidence From Pennsylvania, Guido Giuntini, Allyssa A. Wadsworth, Michael A. Malcolm
Pennsylvania Economic Review
Economic factors play a key role in determining fertility and the number of abortions performed. Using detailed county-level data from Pennsylvania, we used fixed-effects analysis to examine how changes in these economic factors are related to the number of abortions. Our most robust estimate suggests that each percentage point increase in the poverty rate is associated with approximately 5 additional abortions per 1000 live births, but that increases in college education rates are associated with a decline in abortions. We also offer some preliminary evidence on the effects of partisanship, religiosity and proximity to an abortion clinic.
Contests With Ambiguous Prizes, Cary Deck, Aidan Hathaway, Emma Kate Henry, Tigran Melkonyan, Samuel Redinger
Contests With Ambiguous Prizes, Cary Deck, Aidan Hathaway, Emma Kate Henry, Tigran Melkonyan, Samuel Redinger
ESI Working Papers
This paper examines behavior in contests where the prize value is ambiguous. We develop a theoretical model of bidding in a Tullock contest with an ambiguous prize where contestants account for the ambiguity attitude of their rival. Ambiguity affects optimal behavior via two countervailing channels - a direct effect arising from contestants’ ambiguity about the value of the prize and an indirect effect corresponding to the effect of ambiguity on the opponent’s behavior. Using a controlled laboratory experiment, we elicit individual risk and ambiguity attitudes and compare predicted and observed behavior in contests with an ambiguous prize, a risky prize …
Performance And Policy Review: Does Connecticut’S Open Choice Program Provide Equitable Opportunities To Underserved Students?, Jacob S. Carson, Gazi M. Duman
Performance And Policy Review: Does Connecticut’S Open Choice Program Provide Equitable Opportunities To Underserved Students?, Jacob S. Carson, Gazi M. Duman
Pennsylvania Economic Review
The intent of Connecticut’s Open Choice Program is to offer underserved urban students the opportunity to achieve equitable educational outcomes by attending higher-quality public schools. As students transfer to schools that theoretically have more resources, increased educational achievement growth is expected. Additionally, with the implementation of the state exam, Smarter Balanced Assessment, student growth metrics have been introduced in state reporting. Examining student growth is a better measure for school quality than achievement levels. To understand the impact of Open Choice Program, a multiple regression analysis is applied to multiple imputed aggregate data to determine the relationship between school choice …
An Empirical Investigation Of The Effects Of Gunshot Detection Technology In Detroit, Joe Davis
An Empirical Investigation Of The Effects Of Gunshot Detection Technology In Detroit, Joe Davis
All Graduate Reports and Creative Projects, Fall 2023 to Present
This paper evaluates the impact of acoustic gunshot detection technology (GDT) on crime and policing outcomes in Detroit, Michigan. Leveraging the implementation of ShotSpotter across high-crime neighborhoods, I analyze outcomes including crime rates, emergency calls, police response times, and case clearance. My findings indicate that ShotSpotter installation is associated with a 6% reduction in violent crime but a modest increase in nonviolent crime. The technology also produces a large increase in the reporting of gunfire incidents—over 300% more gunshot-related calls for service—yet police respond 7% slower to ShotSpotter alerts than to citizen-reported gunshots. Consistent with prior research, I find no …
Hkc03 - Leading A Horse To Water: Understanding The Potential Consequences Of Ordeals In Subsidized Tariff Pricing, Evan Plous Kresch, Carlota Loran Lopez
Hkc03 - Leading A Horse To Water: Understanding The Potential Consequences Of Ordeals In Subsidized Tariff Pricing, Evan Plous Kresch, Carlota Loran Lopez
Oberlin College Kasper Economics and Business Working Paper Series
Water utilities attempting to balance widespread network access with financial stability in providing services often employ Increasing Block Tariffs (IBTs), where volumetric rates increase nonlinearly with water consumed. The widespread adoption of IBTs by utilities across the world is partly attributed to their ability to cross-subsidize smaller monthly users; however, this often leads to the undesirable outcome that large poor households are shifted into higher tariff blocks. To address this, water utilities often adopt a“social tariff”, with significantly lower rates specifically targeted at poor households. However, most of these social tariff policies require households to opt-in or apply to the …
Firms Heterogeneity In Indonesia’S Manufacturing And Services Sectors, Rizki Nauli Siregar
Firms Heterogeneity In Indonesia’S Manufacturing And Services Sectors, Rizki Nauli Siregar
Economics and Finance in Indonesia
Firm heterogeneity is the building block of modern trade theories. One of its important implications is that comparative advantage is driven by firm productivity, rather than sector differences across countries. Despite the prevalence of this framework, there has not been any systematic documentation on firm heterogeneity in Indonesia’s man ufacturing and services firms. Using the World Bank Enterprise Survey (WBES) data for Indonesia in 2015 and 2023, we confirm that there is firm heterogeneity in the form of size and productivity dispersion in both of the economy’s manufacturing and services sectors. We also find no strong association between size and …
Beyond The Aid Paradigm: Neocolonialism, Recolonisation And The Future For Africa’S Development, John Ringson, Manamela Johannes David Matshabaphala
Beyond The Aid Paradigm: Neocolonialism, Recolonisation And The Future For Africa’S Development, John Ringson, Manamela Johannes David Matshabaphala
Southern African Journal of Policy and Development
The persistence of poverty, inequality, and underdevelopment in Africa, despite decades of foreign aid and assistance, has raised fundamental questions about the efficacy and sustainability of the aid paradigm. This qualitative desktop research study, employing discourse analysis, critically examines the complex relationships between aid, neocolonialism, and recolonisation in Africa, exploring the implications for the continent's future development. Drawing on a critical discourse analysis of existing literature, policy documents, and online archives, this study reveals how the aid paradigm has perpetuated neocolonialism and recolonisation in Africa, undermining the continent's sovereignty, agency, and self-determination. The study illuminates the power dynamics and relationships …
(Wp 2025-06) Ramsey And Keynes...And Sraffa And Wittgenstein: Change In Interwar Cambridge Economics And Policy, John B. Davis
(Wp 2025-06) Ramsey And Keynes...And Sraffa And Wittgenstein: Change In Interwar Cambridge Economics And Policy, John B. Davis
Economics Working Papers
The Ramsey-Keynes exchange regarding the nature of probability is investigated in connection with the development of interwar Cambridge economics and Ramsey and Sraffa’s influences on Keynes and Wittgenstein. First discussed are Ramsey’s criticisms of Keynes and Wittgenstein; then Sraffa’s criticisms of Marshall and Wittgenstein. Ramsey was influenced by Peirce and pragmatism and Sraffa by Gramsci and the theory of cultural hegemony. Ramsey died in 1930 but Sraffa continued to interact with both Keynes and Wittgenstein. After his critique of Marshall he participated in the ‘Cambridge circus’ and turned to recovering the Classical economics of Ricardo. Keynes’s General Theory statement of …
The Moderating Effect Of Income Inequality On The Income–Emissions Relationship In G20 Countries, Zahra Rizky Fadilah, Budiasih Budiasih
The Moderating Effect Of Income Inequality On The Income–Emissions Relationship In G20 Countries, Zahra Rizky Fadilah, Budiasih Budiasih
Economics and Finance in Indonesia
This study analyzes the moderating effect of income inequality on the income–emissions relationship in the environmental Kuznets curve (EKC) framework. Findings indicate that the relationship is inverted U-shaped in middle-income G20 countries, but monotonically increasing in high-income G20 countries. Interestingly, income inequality moderates this relationship only in the latter group. These findings suggest that middle-income G20 countries should focus on raising income per capita to mitigate environmental degradation, while their high-income counterparts need to prioritize reducing income inequality to effectively decouple income from emissions.
The Relationship Between The Development Of Tourism Special Economic Zones (Sezs) And Local Tax Revenue, Ibnati Misbha Hussudurri, Riatu Mariatul Qibthiyyah
The Relationship Between The Development Of Tourism Special Economic Zones (Sezs) And Local Tax Revenue, Ibnati Misbha Hussudurri, Riatu Mariatul Qibthiyyah
Economics and Finance in Indonesia
This study employs dynamic two-way fixed effect (TWFE) event regressions to analyze the direct impact of SEZ policies, specifically focusing on tourism SEZs in 6 districts across Indonesia and neighbouring districts within the same province. By examining data from 2010 to 2022, the research aims to evaluate how tourism SEZ development influences local tax revenue. Our estimation results show no evidence that Tourism SEZs affect aggregate local tax revenues. However, by type of local taxes, we found that Tourism SEZs have increased hotel tax and entertainment tax but not restaurant tax revenues.
Voting Under Contradictory News, Arnab Mitra, Quazi Shahriar
Voting Under Contradictory News, Arnab Mitra, Quazi Shahriar
Economics Faculty Publications and Presentations
How much do opposing news sources distort private information and how do voters use distorted contradictory information regarding candidate quality? In a two candidate voting game, we derive and experimentally test an “average-opinion” hypothesis, where two opposingly biased sources, capable of forming an unbiased estimate of candidate quality as well as a distorted estimate within a bound, symmetrically distort their reported estimates in opposite directions, and voters split the estimate difference to decipher the unbiased estimate. Data support the hypothesis and show that voters benefit from sources’ competition, compared to a control treatment without competition. When sources are allowed to …
Resolving The Energy Efficiency Paradox: Leveraging Benefits For Saudi Arabia’S Building Sector, Fateh Belaïd, Mahelet G. Fikru
Resolving The Energy Efficiency Paradox: Leveraging Benefits For Saudi Arabia’S Building Sector, Fateh Belaïd, Mahelet G. Fikru
Economics Faculty Research & Creative Works
This article examines the economics of energy efficiency in Saudi Arabia's building sector, centering on the "energy efficiency paradox," the observed under adoption of cost-effective technologies despite their clear benefits—such as reducing energy use and associated emissions. We show that a mix of market barriers and behavioral biases—including split incentives, informational gaps, and the value-action gap—constrains adoption of energy-efficient solutions. Recent modeling suggests that improved air-conditioning labels could save up to 80 TWh of electricity annually, though rebound effects may erode some of these gains. Our analysis shows that tackling market failures is necessary but not enough. Strong building codes …
Earnings, Ethics, And Fast Fashion: How Does Income Affect Consumers’ Decisions?, Ava M. Minton
Earnings, Ethics, And Fast Fashion: How Does Income Affect Consumers’ Decisions?, Ava M. Minton
All Theses
This thesis examines if annual earnings influence consumers’ likelihood of avoiding clothing brands associated with labor exploitation. To examine this question, the study draws on four major U.S. datasets that together capture two decades of consumer attitudes and self-reported behaviors. The results show that income has a strong and statistically significant effect: household income increases the odds of avoiding exploitative brands by roughly 27 percentage points. Education, ideology, and gender also exhibit meaningful positive associations with ethical consumption, while age slightly reduces the likelihood of boycott participation. Overall, the analysis provides evidence that ethical consumption behaves like a normal good …
How Is South Africa's Black Economic Empowerment Policy (Bee) Addressing Historical Inequalities And Promoting Inclusive Development As Of 2024?, Nasim Uz Zaman
How Is South Africa's Black Economic Empowerment Policy (Bee) Addressing Historical Inequalities And Promoting Inclusive Development As Of 2024?, Nasim Uz Zaman
Southern African Journal of Policy and Development
South Africa’s Black Economic Empowerment (BEE) policy was introduced to dismantle apartheid-era economic disparities; however, its corporate-driven model has fostered symbolic compliance rather than substantive transformation. This study critically examines BEE’s structural limitations, specifically its failure to generate mass employment, its susceptibility to elite capture, and the prevalence of "fronting" practices. By juxtaposing BEE with affirmative action frameworks in Malaysia, India, and the United States, this research elucidates why ownership redistribution alone has failed to translate into inclusive economic mobility. Employing a qualitative policy analysis, this study synthesizes unemployment trajectories, implementation distortions, and systemic governance inefficiencies to highlight the constraints …
Female Politicians And Corruption In Rural India, Somdeep Chatterjee, Shiv Hastawala, Elisa Taveras
Female Politicians And Corruption In Rural India, Somdeep Chatterjee, Shiv Hastawala, Elisa Taveras
School of Economics and Finance Faculty Publications
This paper leverages random assignment of female quotas for leadership positions on Indian village councils to assess its causal effect on corruption. Since the mid-1990s, India has mandated that at least one third of village council chief positions be randomly reserved for women. Using data from the Rural Economic and Demographic Survey (REDS) 2006, we find that an additional term reserved for a female head as opposed to just a single one reduces both the occurrence and bribe amounts paid to the local government by households. This reduction is also observed in bribes paid to other local officials suggesting downstream …
Privately Owned Companies Dominate Renewable Energy Generation Ownership Around The World, Dyaran Bansraj, Theodor Florian Cojoianu, Xi Hu, Khaladdin Rzayev, Francisco Urzua
Privately Owned Companies Dominate Renewable Energy Generation Ownership Around The World, Dyaran Bansraj, Theodor Florian Cojoianu, Xi Hu, Khaladdin Rzayev, Francisco Urzua
Research Collection College of Integrative Studies
Global sustainable finance policies are premised on publicly listed companies driving decarbonization through transparency, investor pressure, and capital market access. Analysing c. 20,000 corporate owners of renewable and fossil-fuel assets worldwide, we show the opposite: private firms own approximately 75% of global renewable generation capacity. This private dominance holds across all major technologies and regions, with listed ownership of renewable assets being the majority only in the oil & gas and technology sectors. The Paris Agreement did not alter this balance. Instead, ownership of the energy transition reflects countries' financial structures, with similar patterns observed across manufacturing, construction, and financial …