Fiscal sustainability refers to a government's capacity to generate sufficient revenue to cover its expenses and repay its debts without accumulating excessive liabilities or creating new money. Recent observations indicate that Kenya's economic growth has slowed, prompting concerns about its...

This study investigates how skilled labor influences the development of the secondary sector in emerging economies, using China as a case study. We focus on the transitional process in which manufacturing growth shifts from labor-intensive expansion toward productivity-driven industrial...

This paper examines how logistics performance conditions the relationship between trade openness, economic growth and per capita CO₂ emissions in Mediterranean economies. Using an unbalanced panel of 20 countries over the period 2007-2022, we combine static fixed-effects, dynamic panel...

The main purpose of this study is to assess the effect of current public expenditure on education and human capital on economic growth in Central America between 1992 and 2021. In this context, data on education spending and human capital for Guatemala, Honduras, El Salvador, Nicaragua, and...

This study aims to examine the impacts of AI investment on economic growth, while controlling for labor force participation and gross fixed capital formation in Germany. The analysis is based on data collected on the state of economic development in Germany from the first quarter of 2012 to the...

In this paper, we analyze the impacts of financial innovation and financial deepening on the economic growth of 14 sub-Saharan African (SSA) countries from 1995 to 2023. The autoregressive distributed lag (ARDL) approach and error correction model (ECM) were used to assess short- and long-run...

Although Micro, Small and Medium Enterprises (MSMEs) are the backbone of economic activity and inclusive growth in Indonesia, and recent data from Jambi Province reveal a disconnect between robust post-pandemic recovery and meaningful poverty reduction. While regional GDP climbed from 0.99% to...

This paper reviews the contributions of the 2025 Nobel Prize in Economics laureates, Joel Mokyr, Philippe Aghion and Peter Howitt, to our understanding of innovation-driven economic growth, situating their work within the broader evolution of modern growth theory and empirical evidence. It...

In emerging markets, stock markets play a crucial role in supporting long-term growth. This study explores the causal relationship between stock market development and economic growth in the Fragile Five countries-Brazil, India, Indonesia, South Africa, and Turkey-covering the period from 2001...

This paper examines the relationship between corruption and foreign direct investment (FDI) inflows in European Union member states using a dynamic panel framework. Using an unbalanced EU panel from 2002 to 2022 and an Arellano-Bond difference-GMM specification, we model inward FDI inflows per...

This study investigates how financial technology (FinTech) contributes to economic growth, focusing on whether it acts primarily as a mediator or a moderator within the finance-growth nexus. A composite FinTech index is constructed using Principal Component Analysis based on cross-country data...

Demographic ageing, a topic that is intensively addressed in the scientific literature, significantly influences the functioning of economic systems. Demographic ageing directly impacts the labour supply, productivity, savings, investments and the sustainability of public finances through...

This study investigates the macroeconomic impact of financial corruption and institutional weakness on Pakistan's economy from 1996 to 2023, addressing a critical research gap in quantifying the simultaneous effects of shadow economy operations and poor governance on economic growth. Grounded in...

This study assesses the role of institutional quality, macroeconomic performance, and environmental pressures in shaping food security in East Asia. Using a PMG-ARDL panel model with data from China, Singapore, and Japan-three economies characterized by high institutional standards-the analysis...

Structural transformation is widely recognized as a key driver of productivity growth and economic development, with industrial policies often playing a crucial role in this process. However, the challenge of premature deindustrialization-where economies experience a decline in manufacturing's...

This study examines the heterogeneous effects of key macroeconomic determinants on economic growth in selected MENA economies using a pooled quantile regression framework. Unlike conventional mean-based approaches, this method captures variation across different segments of the conditional...

A strong transportation infrastructure is critical in advancing ICT trade by facilitating the efficient movement of goods and services. This efficiency enhances supply chains and attracts greater foreign direct investment, ultimately supporting technological development and boosting the economy....

This study explores the drivers of economic growth in the BRICS economies-Brazil, Russia, India, China, and South Africa-over the period 1994-2024, focusing on the roles of digital infrastructure and financial development. Using a balanced panel, we examine how internet connectivity and access...

This paper examines economic and institutional convergence between EU Core, EU New, and Western Balkan countries over the period 2004-2023 using a comprehensive panel dataset and multiple convergence frameworks. Evidence of absolute β-convergence is found, although at a slow pace, while...

The primary objective of this research is to identify, analyse, and compare the development of risk management approaches adopted by Slovak industrial enterprises in two distinct economic periods: during a phase of economic growth (2019) and during a period of global crises and regional crises...

This paper provides a non-technical and selective explanation of the theory of innovation and economic growth, in light of the 2025 Bank of Sweden Prize in Memory of Alfred Nobel, awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt. Their body of scholarship is critically evaluated, and the...

The Hard Steps model is applied to argue that the Industrial Revolution (IR) heralded a terminal phase of human existence. Assuming six hard steps, the Kolmogorov-Smirnov method is used to pinpoint the start of the IR to ≈ year 1700. Once these hard steps were cleared, the global economy...