Economics Commons^™

Fiscal Decentralization, Local Government Size, And Regional Economic Growth: Evidence From Indonesia, Faizul Mubarok, Hasta Dwi Pradana, Etty Puji Lestari

Bulletin of Monetary Economics and Banking

This study investigates the dynamic relationship between fiscal decentralization, local government size, and regional economic growth in Indonesia. Integrating fiscal federalism theory with the Armey curve framework, the study examines whether decentralization reshapes the scale of subnational governments and how this influences growth outcomes. Using balanced panel data from 26 Indonesian provinces over the period 1995–2020, the analysis employs dynamic panel estimators based on the Generalized Method of Moments (GMM) to address endogeneity, persistence, and unobserved heterogeneity. The results reveal a nuanced relationship between fiscal decentralization and government size. Greater revenue autonomy is associated with a contraction in government size …

Trapped In Transition: Structural Change And Political Dynamics In Middle-Income Countries, Gabriel Duvidovich

Dissertations and Theses

The middle-income trap literature has examined why relatively few middle-income countries transition to high-income status. A range of explanations has been proposed, but the political dimension has often been overlooked. Studies that take a political perspective often focus on institutional form rather than the state’s ability to effectively implement policy. This study addresses this gap by bringing political capacity to the center of the analysis. It argues that political capacity appears important for the productive upgrading required for sustained growth in middle-income economies and shapes economic growth trajectories across countries at different income levels.

The empirical analysis uses country-period panel …

The Nexus Between Economic Growth, Energy Consumption, Technology Innovation, And Co2 Emissions In Vietnam, Ha Thi Thu Nguyen

Economic and Business Review

Vietnam's rapid economic growth has intensified environmental pressures, heightening concerns about the country's ability to decouple growth from rising CO₂ emissions. Although green policies and initiatives have been introduced, questions remain regarding their effectiveness and the extent to which technological innovation and renewable energy can mitigate environmental degradation. This study applies the stochastic impacts by regression on population, affluence, and technology (STIRPAT) framework and autoregressive distributed lag (ARDL) approach to investigate the short- and long-run impacts of economic growth, foreign direct investment (FDI), technological innovation, renewable energy consumption, and forest area on CO₂ emissions in Vietnam, using annual …

Fiscal And Monetary Policies For Inclusive Growth In Developing And Emerging Markets, Collins Anosike

Journal of Global Awareness

The study examined the effects of monetary and fiscal policies in attaining inclusive growth for some developing countries and emerging markets. The study selected 20 countries and grouped them into group one and group two. The study is unique because it captures a broader range of countries compared to previous studies and shows their effect on economic growth. We use panel data and employ OLS regression and Johansen cointegration. We examine how each variable, general government expenditure, gross national expenditure, total revenue, official exchange rate, broad money, and deposit interest rate, affects the dependent variable (real GDP) from 1980 to …

Gender Norms, Socio-Organizational Ergonomics, And Female Labor Force Participation In South Asia, Huma Maqsood, Nor Fatimah Che Sulaiman, Suriyani Muhamad, Nor Aizal Akmal Binti Rohaizad, Sana Mukhtar

The Qualitative Report

Socio-organizational ergonomics encompasses workplace social and cultural factors that influence inclusion, performance, and well-being. Gender-based socio-organizational ergonomics has both microeconomic and macroeconomic implications. In this context, underutilization of women’s economic potential, evidenced by low female labor force participation, emerges as a critical factor that compromises sustainable growth in developing countries. To study the phenomenon, we examined the impact of gender norms on socio-organizational ergonomics and female labor force participation in South Asia. Qualitative data from in-depth interviews with 20 female participants are thematically analyzed using Braun and Clarke’s TA framework. Our findings highlight that socio-organizational ergonomics in South Asia is …

Health Status In East Texas, Manuel Reyes-Loya, Cecilia Cuellar, Marilyn Young, Luisa Moraes

Hibbs Newsletter

This issue of the Hibbs Newsletter examines the key economic drivers of East Texas, highlighting trends in GDP, employment, and wages across major metropolitan areas. From 2015 to 2023, the region experienced steady economic growth, led primarily by healthcare, manufacturing, and mining industries. The report emphasizes healthcare as a dominant contributor to both employment and high-wage occupations, offering insight into the region’s evolving economic structure

The Effect Of Renewable Energy Consumption, Economic Growth, And Energy Use On Co₂ Emissions In Indonesia: An Ardl Analysis, Raihan Ahmad Mustofa, Mariam Kamila, Rininta Nurrachmi, Syifa Shafnastiara

Jurnal Kebijakan Ekonomi

Abstract This study examines the dynamic relationship between renewable energy consumption, total energy use, economic growth, and CO₂ emissions in Indonesia over the period 1990–2021 using an ARDL approach. The results show a stable long-run relationship with quick adjustment after shocks. In the long run, energy consumption is associated with higher CO₂ emissions, reflecting the continued dominance of fossil fuels. Renewable energy helps reduce emissions in the short term, but its long-term impact remains statistically insignificant. GDP does not show a significant effect, suggesting that meaningful decarbonization will require a more intensive shift in the energy mix.

Keywords: ARDL, renewable …

Abundance Strategies Should Promote Abundant Jobs In Distressed Places, Timothy J. Bartik

Upjohn Institute Policy Papers

A prominent recent policy debate is about “abundance policies”: policies to make it easier to build housing or infrastructure, deliver government services more quickly and more efficiently, and expedite the public funding of the most innovative and socially impactful research. In this essay, I argue that abundance advocates often mistakenly ignore or have a negative attitude toward “place-based policies.” These place-based policies would seek to increase employment rates, particularly in good jobs, in two types of distressed places that lack abundant job opportunities: distressed local labor markets and distressed neighborhoods. Both the goals and means of place-based policies fit into …

How Public Education Policies Drive Economic Growth In Asean : An Analysis Of Resource Allocation Theory, Human Capital Accumulation, And Structural Transformation Pathways, Jiacheng Li

Lingnan Theses (Doctoral degree)

This study examines how public education policies influence economic growth across ASEAN nations through the theoretical lens of resource allocation theory. While ASEAN has maintained an average GDP growth rate of 5.1% since 2000, significant disparities between high-growth and low-growth economies persist in educational investment and outcomes.

Methodologically, the study conducts empirical studies and integrates panel data (1990–2023) across ten member states that underwent spatial econometrics analysis. It dissects three transmission pathways: (1) human capital accumulation enhancing labor productivity via skill development; (2) educational stratification driving industrial restructuring; and (3) spatial spillovers facilitating cross-border knowledge diffusion. These mechanisms are operationalized …

Economic Drivers In East Texas- July 2025, Manuel Reyes-Loya, Cecilia Cuellar, Marilyn Young, Pedro Gallardo-Toledo

Hibbs Newsletter

This issue of the Hibbs Newsletter examines the key economic drivers of East Texas, highlighting trends in GDP, employment, and wages across major metropolitan areas. From 2015 to 2023, the region experienced steady economic growth, led primarily by healthcare, manufacturing, and mining industries. The report emphasizes healthcare as a dominant contributor to both employment and high-wage occupations, offering insight into the region’s evolving economic structure

Global Trends In Youth Employment: Key Statistics And Cultural Commentary, Anatolii Mazaraki, Tetiana Melnyk, Oksana Losheniuk

Markets, Globalization & Development Review

The issue of youth employment receives constant attention of global organizations, governments, and researchers. Young people have the potential to positively reshape the national and global economies. Furthermore, the youth also constantly reshape the social, cultural, technological, and political environments. Global unemployment rate among youth, however, is three times higher than among older workers. In 2023, one in five young people did not work, study, or acquire professional skills. The negative factors of the Ukrainian youth labor market have been significantly exacerbated by the war, which has caused an economic crisis in the country, a huge migration of young people, …

The Impact Of Blue Economy Factors On Morocco's Economic Growth, Lqamar Youssef, El Amine Youness Mr, Smouni Rachid Pr

Journal of Ocean and Coastal Economics

Purpose - This study examines the influence of blue economy factors on Morocco's economic growth.

Design/methodology/ approach - Using secondary data from 1980 to 2022, the analysis focuses on fishery production and its various sectors as contributing factors to economic growth. The study employs the Autoregressive Distributed Lag (ARDL) method and aims to highlight the impact of deep-sea fishing and coastal fishing in the context of a transition to a sustainable and inclusive blue economy.

Findings - The results suggest that coastal fishing has more potential for creating inclusive economic value within the development of the blue economy, thus promoting …

Effects Of Monetary Policy On Economic Growth: Evidence From Some Developing And Developed Economies, Collins Anosike

Journal of Global Awareness

The study examined the effects of monetary policy on the economic growth of some developing and developed economies. This study selected 33 countries grouped into 11 each as first-group, second-group, and third-group countries and showed how monetary policy has influenced their economic growth in the past 40 years, capturing the economic growth performances before and after the global financial crisis. This study is unique because it captures a broader range of countries compared to previous studies, uses updated data, and shows how monetary policy is transmitted through bank lending and financial intermediation. Furthermore, we use panel data and employ fixed …

An Assessment Of Macroeconomic Effects Of Financial Liberalization In Tanzania: 1990-2022, Cornel Joseph

Journal of Humanities and Social Sciences

This study provides a comprehensive analysis of the effects of financial liberalization on key macroeconomic indicators in Tanzania, specifically focusing on savings, investment, and economic growth. Utilizing extensive annual time series data from 1990 to 2022, the research employs the Autoregressive Distributed Lag (ARDL) method and incorporates bound testing procedures to ensure robust results. The analysis reveals several significant findings: financial liberalization has a positive impact on savings and promotes economic growth in the long-run, demonstrating its role as a catalyst for economic advancement in Tanzania. However, the study also uncovers a concerning trend: while savings and growth benefit from …

A Life Without Imf: Pakistan Needs To Work Systematically To Enhance Its Capacity To Generate Additional Net Foreign Exchange Earnings Compared To The Current Levels., Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

After the approval of the IMF Board of Pakistan’s request for a 37-month Extended Fund Facility, there were strong voices from the Prime and Finance Ministers that this would be the last program with the IMF. We have heard such pronouncements before, but they have not been translated into action. A broad consensus is emerging that it is in Pakistan’s best interests to exit to regain control over economic decision-making, set its priorities and their phasing, timing and sequencing, and get out of a straitjacket framework of short-term performance criteria. How can we ensure that this rhetoric is turned into …

On Explaining Why The (Human) World Is Rich, Bart J. Wilson

ESI Working Papers

The wealth of the modern world is a natural historical marvel. Explaining it has traditionally been the purview of economic historians, as exemplified by the recent book How the World Became Rich by Mark Koyama and Jared Rubin. Economic historians, though, tend to only ask process-oriented “how” questions and “by what means” questions of the Great Enrichment. The eight co-authors of Explaining Technology, who are not economic historians, engage the debate asking a different question. Their goal is to explain the exponential shape of our enrichment with a model of the combinatorial evolution of technology. With an eye toward how …

A Comparative Study Of Indonesia And Malaysia's Economic Resilience In The Covid-19 Era: An Analysis Of Economic Stability, Muhammad Nur Abdul Latif Nur Latif Al Waroi

Jurnal Kajian Stratejik Ketahanan Nasional

This study analyzes the economic resilience of Indonesia and Malaysia during the COVID-19 pandemic, focusing on economic stability. The research explores pre-pandemic economic conditions, the impact of COVID-19 on GDP, inflation, unemployment, and government debt, as well as recovery efforts through fiscal and monetary policies. Data from Statistics Indonesia, Department of Statistics Malaysia, World Bank, and IMF were used. Results indicate that Indonesia experienced a faster economic recovery, with GDP growth returning to pre-pandemic levels quicker than Malaysia. The economic impact of the pandemic in Indonesia is lower, supported by the National Economic Recovery Program (PEN) and Bank Indonesia's monetary …

Supply Chains Shocks, Network Linkages, And Economic Outcomes, Romeo Eric Neuyou Nana

Graduate Theses and Dissertations

One prominent consequence of the Covid-19 pandemic was the disruption of critical parts of the global supply chain. In the U.S., delays at ports and shortages of critical inputs such as semiconductors have negative ripple effects across the economy. This situation prompts a surge of interests from academics, business leaders, and policy makers alike. However, the evidence of the quantification of supply chain disruptions’ impact and its drivers on economic variables are still scant. In this essay, I investigate the extent of the impact of supply chain shocks on the U.S. economy and the mechanisms through which they affect economic …

The Interaction Effects Of Fintech And Bank Lending On Growth: Evidence From The Asean Region, Tan Swee Liang

Research Collection School Of Economics

This study examined the interaction effects of traditional bank lending and emerging fintech credit on economic growth in six ASEAN economies from 2013 to 2020. Using a two-way fixed effects (FE) model and the panel-corrected standard error (PCSE) method, the study found a statistically significant and positive interaction effect between bank lending and fintech credit. Specifically, fintech credit became increasingly important in shaping economic growth as bank lending ratios exceeded a certain threshold. Countries with high bank lending ratios experienced greater GDP per capita growth when accompanied by greater fintech credit. These findings suggest that policies supporting fintech development alongside …

The Effect Of Fiscal And Monetary Policy On Public Debt In Egypt, Malak Mohamed

Theses and Dissertations

The thesis aims to examine the effect of monetary policies and fiscal policies on public debt in Egypt during the period from 2006 until 2021. Egypt is witnessing aggravated levels of debt, with limited fiscal and monetary space. Therefore, the objective of the paper is to analyze the effect of discount rates, inflation rates, subsidies, taxes and economic growth on debt-to-GDP in Egypt using a VAR model with an extended test of Impulse Response Function. The results suggest that a positive shock in government expenditures initially decreases public debt but leads to a fluctuating increase in the debt-to-GDP ratio in …

The Relationship Between Microfinance Bank And Economic Growth In Nigeria, Muhammad-Bashir Owolabi Yusuf, Ridwan Olabisi Yusuff, Daud Ishola Jimoh

Arab Economic and Business Journal

The goal of this study was to investigate how Nigeria's economy and microfinance banks are related, using time series data from 1992 to 2021. The relationship was assessed using the ARDL model. Short-term negative relationship exists between Microfinance Bank Asset and Economic growth. Specifically, the results indicate that a rise in the assets of microfinance banks (MFBA) will slow Nigeria's economic expansion. Economic growth in Nigeria is considerable and favorably correlated with microfinance banks loans and advances. Finally, it was clear that there is a long-run equilibrium link between economic growth, microfinance banks' assets and their loans and advances.

Beyond Ease Of Doing Business: The Impact Of Digital Integration On Economic Growth In The Arab World, Amale El Maiss

BAU Journal - Creative Sustainable Development

The Digital Quality of Business Index is an innovative tool for assessing the impact of digital transformation on economic growth in the Arab world, it has been introduced as part of this research. The DQOB index combines other critical elements to the ease of doing business, such as the Human Development Index (HDI), Foreign Direct Investment (FDI), and E-Government initiatives, unlike traditional metrics that focus solely on ease of doing business. The study reveals exceptional findings, based on analysis of panel data from 2004 to 2022 in a selection of countries across the Middle East using both fixed and unpredictable …

The Alchemy Of Diversification: A Deep Dive Into The Stock-Bond Correlation, Evan Coffey

Business and Economics Honors Papers

This research delves into the intricate dynamics of the stock-bond correlation, seeking to reveal the underlying factors that drive its fluctuations. Through a comprehensive analysis of empirical data, it investigates the diverse array of influences that contribute to the variability in the relationship between stock and bond returns. Factors such as inflation, unemployment, market volatility, FED policy, and market growth are scrutinized for their impact on altering the correlation pattern. Additionally, the research explores the implications of the stock-bond correlation on portfolio diversification. By explaining the multifaceted nature of the correlation, this study provides valuable insights for investors, policymakers, and …

Cognitive And Economic Development, John Luke Gallup

OHSU-PSU School of Public Health Annual Conference

A burgeoning literature finds that early childhood risk factors have large causal effects on individuals' cognitive development, education and earnings, but has not assessed the impact on the economy as a whole.

Cognitive ability is the foundation of human capital and the capacity to learn. The risk factors for poor cognitive development are very high in many countries. Each risk factor also causes child mortality, making child survival a viable proxy for good cognitive development conditions. The cognitive development of current workers happened decades earlier when they were children, providing a predetermined correlate. Controlling for country characteristics, income levels and …

Reassessing The Linkages Among Entrepreneurship, Institutions And Growth, Edinaldo Tebaldi, Joilson Giorno

Mathematics and Economics Faculty Journal Articles

This article examines the role of institutions and entrepreneurship to foster economic development under increasing complex economic structures caused by structural changes. The empirical work utilizes data from several sources including the Penn World Table 9.1, The Global Entrepreneurship and Development Institute, the Observatory of Economic Complexity (OEC) at the MIT, and The International Country Risk Guide (ICRG). The empirical work circumvents the endogeneity and heterogeneity problem that plague cross-country regressions by using the Arellano and Bover (1995) and Blundell and Bond (1998) system GMM estimator. The results show that while entrepreneurship is positively correlated to economic development, this correlation …

Digitalization And Economies Of Oic Countries, Mohsin Ali, Urooj Anwar, Mudeer Ahmed Khattak, Muhammad Umar Islam

Bulletin of Monetary Economics and Banking

This paper studies the impact of digitalization on the Organization of Islamic countries (OIC) economies. The study is conducted to see whether digitalization is playing its role in enhancing economic growth. We employ a panel dataset consisting of twenty-one years from 2000 to 2020 for 57 OIC countries. We use the system generalized method of moments (GMM) estimator. The results indicate that digitalization positively impacts the economies of OIC countries. As for policy implication, this study recommends governments of OIC member countries to invest in digital infrastructure in order to foster economic growth.

Part 1: As Good As It Gets? The Economy Of Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Hampton Roads’ economy was a study in contrasts in 2024. For the first time in almost two decades, the regional economy grew in four consecutive years. A record number of individuals were in the civilian labor force and employed, and employers reported a record number of jobs. Job growth, however, lagged our peers. Now is the time to invest in key industry clusters to spur private-sector job growth in the region and build upon our recent economic fortunes.

Part 1: Virginia's Economy Grows, Will Consumers Remain Unhappy?, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

By many measures, Virginia will set several records in 2024. Economic activity across the state will surpass that observed in 2023 and will represent the fourth consecutive year of economic growth. More Virginians will have been at work or looking for work than in any other year. Yet, if one asks Virginians about the state of the economy, their views are decidedly more pessimistic.

Empirical Linkage Between Economic Growth And Political Instability And The Effects Of Inequalities In Africa, Francis Joseph Assenga

CGU Theses & Dissertations

The examination of the relationship between political instability and economic growth is critical in today's global economy, especially in African nations facing multifaceted challenges. Over recent decades, this connection has been a key area of focus for economic scholars, driving significant empirical research. Previous studies, which examined the dynamics of this relationship consistently underscore the profound interconnectedness of economic growth and political stability in the sense that, political instability hampers economic growth, while economic downturns can trigger political unrest and government collapse.

Our study empirically investigates the linkage between economic growth, political instability, and inequality in Africa, analyzing data from …

Capturing Value In Emerging Markets: A Real Options Perspective On Resilience And Risk, Alexander Castillo

CMC Senior Theses

This paper examines the evaluation of investment opportunities in emerging markets (EMs) through real options analysis, against the backdrop of their unique risk profiles and the recent trend of EMs exhibiting resilience in economic performance. While EMs are associated with high growth rates and infrastructure gaps, they have shown adaptability, particularly in monetary policy responses to inflation. This paper explores the sensitivity of net present value (NPV) and real options (RO) to changes in the capital asset pricing model, adapting the yield spread to capture default risk and local risk-free rates. Utilizing oil benchmark price data, the paper constructs a …