Analysis of Low Fertility Rates in Advanced Economies

In economics,opportunity cost means the maximum value of choosing one behavior over others in the situation where resources are limited(Parkin,2016).In the process of making reproductive decision,opportunity cost reveals the trade-off between time,resources,and economic benefits that individuals face when choosing to have children or not.During this process,the technological changes make the paths of career development diverse and rapidly changing,remarkably increasing the opportunity cost of childbirth and parenting.This leads to individuals more inclined to postpone or reduce childbirth when balancing their careers and families,thereby resulting in low fertility rates in developed economies.

Currencies of greater interest for central Asian economies:an analysis of exchange market pressure amid global and regional interdependence

Central Asian Economies(CAEs)have diverse exchange rate policies.They have recorded higher volatility in the foreign exchange market since inception.High volatility of the transition era has drifted these economies towards partial dollarization.Monetary authorities in CAEs,(already have a challenge of maintaining monetary policy autonomy)have a gigantic task of price stability and stopping the spread of dollarization.This study is directed towards assessing the drivers and the determinants of foreign exchange market pressure in CAEs.The results,based on panel data analysis and the System GMM model,have provided useful insights about the exchange market pressure determinants particularly USD,Euro,Ruble,and Renminbi.The results show that China and Russia exchange market pressure has a negative effect on the exchange market pressure of CAEs.While the dollar index shows a positive impact on the exchange market pressure of CAEs.Overall,the findings imply that China and Russia currency appreciation results in a trade deficit across CAEs.The policy implication suggests that the floating exchange rate regime(inflation targeting regime)is not in favor of CAEs,and they must use managed-float to reduce their trade deficits.

Toward a sustainable growth path in Arab economies:an extension of classical growth model

Background/Objectives:Many economies are on the trajectory of alternative growth drivers other than conventional capital and labor.Access to credit facilities is a pertinent indicator of economic growth.In line with the United Nations Sustainable Development Goals(UNSDGs-8)agenda,the national goal for sustainable development for most economies and Arab economies is no exception.Therefore,the current study adopts a traditional growth model by exploring the relationship between gross domestic product(GDP)per capita,credit for private sectors,ratio of exports,real GDP,and per labor force participants for selected Arab economies annually from 2001 to 2020.Research design:This study leverages the Fourier Kwiatkowski–Phillips–Schmidt–Shin(KPSS)unit root test and second-generation panel econometrics as estimation techniques,such as Westerlund and Edgerton panel cointegration test,and the use of two estimators,namely the augmented mean group(AMG)and common correlated error mean group(CCEMG),to obtain robust results.Findings:Empirical findings from Westerlund and Edgerton panel cointegration tests validate the long-run equilibrium relationship among the outlined variables.Further empirical results indicate that the share of exports is negatively significant with economic growth in countries such as Kuwait,Lebanon,Tunisia,and Jordan.Additionally,savings and labor force participation have a positive relationship with economic growth in individual countries such as Algeria and Bahrain.As per the panel,there is no significant relationship between labor force participation and economic growth.This indicates that the skilled labor force enhanced economic growth.Conclusions:These findings come with inherent far-reaching policy suggestions for economies and panels.Further details on country-specific policy actions are presented in the concluding section.

Regional economic assessment of a novel place-based model for sustainable food systems

Several actions from both the environmental and human viewpoints have already been made to meet the sustainability goals targeted at food systems.Still,new place-based ideas to improve sustainability are needed.Agroecological symbiosis(AES),a novel food system model,is an example of a suggested system-level change to attain sustainability targets;it is a symbiosis of food production and processing using renewable energy that uses its own feedstock.AES has already been found advantageous from the ecological and biophysical viewpoints,but a regional economic evaluation of the model is still lacking.Thus,the aim of our paper is to assess the regional economic impact of a possible systemic change in the food system using the network of agroecological symbiosis(NAES)as an example.We applied scenarios representing different ways of moving towards envisioned NAES models in Mäntsälä,Finland,and a computable general equilibrium model to evaluate the regional economic impact.According to our results,both regional economy and employment would increase,and the regional production base would diversify with NAES implementation applied to the region,but the extent of the benefits varies between scenarios.The scenario that includes change in both public and private food demand,production of bioenergy and utilization of by-products would cause the largest impacts.However,realizing NAES requires investments that may influence the actual implementation of such models.Nonetheless,a change towards NAES can promote an economically and spatially just transition to sustainability,as NAES seems to be economically most beneficial for rural areas.

Data-Empowered High-Quality Economic Development: Mechanisms and Pathways

To achieve high-quality economic development,it is imperative to prioritize the real economy and foster new factors for economic growth.Data,as a new factor of production,plays a pivotal role in facilitating the seamless integration between digital technology and the real economy.It possesses inherent attributes and techno-economic characteristics that enable the extraction of value across various processes,including production,transaction,consumption,and regulatory supervision.The integration with digital technology enhances the productivity and efficiency of the real economy by facilitating service sector digitalization,accelerating the growth of the new real economy,and supporting the virtual economy in its role of serving the real economy.At present,unleashing the value of data is hindered by inadequate fundamental systems for the data,a lack of activity in the transaction market,and the underutilization of the data as a factor of production by enterprises in the real economy.Therefore,it is advised that data be fully utilized to develop the real economy through the four-pronged approach of“enhancing support for the high-quality provision of the data,expediting the integration of the data into the real economy,promoting the high-quality development of the real economy,and enhancing public service and governance systems”.

The coordinated evolution of ecological environment,public service,and tourism economy along the Silk Road Economic Belt,using the Dual-Carbon Targets

Carbon peak and carbon neutrality(dual-carbon)are important targets for the international response to climate change.The Silk Road Economic Belt is a strategic resource region and is important for future ecological environment and tourism development.Based on the“dual-carbon”targets,the Single index quantification,Multiple index synthesis,and Poly-criteria integration evaluation model were used in this study to measure the coordinated development index of the ecological environment,public service,and tourism economy along the Silk Road Economic Belt and to analyze its spatial and temporal evolution.Further,it explores the dynamic evolution and development trend of the three systems using the Kernel Density and Grey Markov Prediction Model.The results show that the coordinated development index along this region needs to be improved during the study period.Furthermore,the coordinated development index of the Southwest region is relatively higher than that of the Northwest region.From the development trend of the three systems,all of them develop in a stable manner;however,the tourism economy system is easily affected by external disturbances.The coordinated development index of the three systems changes dynamically and tends to be in a good state of coordination.There is a certain spatial and temporal heterogeneity.The gravity center of the coordinated development index has been in the Southwest region.During the forecast period,the coordinated development index along this region will improve significantly,while insufficient and unbalanced development will continue.

Analysis and Prospects of the World Economic Situation 2023-2024

At present,the growth momentum of the world economy is clearly insufficient,and faced with many unstable,uncertain and unpredictable factors,the world economy is generally on a downward path.From the perspective of trend changes,the world economy will still be in the process of reshaping its growth momentum in 2024,with positive factors accumulating but downward pressure remaining.

Innovation Analysis of Rural Agricultural Economic Management Model in the Context of the Belt and Road Initiative

[Objectives]To explore innovative strategies for rural agricultural economic development in the context of the Belt and Road Initiative.[Methods]This research adopts the method of literature review and field research,systematically combs the research results related to the Belt and Road Initiative and rural agricultural economic management,and deeply understands the actual situation of rural agricultural economic management.[Results]The research shows that in the context of the Belt and Road Initiative,the rural agricultural economy is facing new development opportunities and challenges,but there are also some problems.In the new period,we should accelerate the innovative development of rural agricultural economy by promoting market-oriented reform,strengthening scientific and technological innovation,optimizing the industrial structure,deepening international cooperation and other measures.The Belt and Road Initiative provides an important opportunity for the innovation of rural agricultural economic management.Rural agricultural economic management should be actively integrated into the Belt and Road construction to improve the level of rural agricultural economic management.[Conclusions]This study provides useful exploration and reference for the innovation of rural agricultural economic management models,which helps to promote the healthy development of rural agricultural economy and achieve the goal of rural revitalization.

China-Romania Economic Relations:Recent Developments and Prospects

The world economy is crossing the period of Great Transformations and transition towards a New World Order,dominated by the increasing role of China in the world,given the fast implementation of the technological progress(Digital and Artificial Intelligence Revolutions).This paper analyses the economic relations between China and Romania and estimates the dynamics of the potential GDP in these states by implementing standard econometric tools.The results point to the upward trend in terms of bilateral trade between China-Romania in the post-pandemic era and emphasize the potential of the development in the mid-run.

Research on the Digital Economy's Impact on China's Economic Growth:Based on the Variations in Urbanization Levels Across China's Eastern,Central,and Western Regions and Sectoral Heterogeneity

This paper uses inter-provincial panel data from 2011 to 2017,a linear regression model,and a threshold model to conduct empirical analyses of the impact of the digital economy on China's overall economic growth and the three main sectors of industry.The paper then investigates the impact and effects the digital economy has had on the economic growth of the three main sectors of industry in China's eastern,central,and western regions.Finally,the paper investigates the most significant differences among the various regions and the threshold effects of urbanization levels on the relationship between the digital economy and economic growth.The findings indicate a significantly positive correlation between the digital economy and regional economic growth.Moreover,geographical factors notably influence this correlation.The digital economy exerts a positive effect on all sectors of industry.It may not substantially impact industrial development in regions with highly developed infrastructure.Regarding the other regions,the digital economy exhibits varying degrees of impact due to the differences in the specific indicators.The conclusion drawn by the threshold model is that the magnitude of the threshold effect correlates with geographic factors.No threshold effect was observed in the eastern region,while the threshold effect occurred in the central region when the urbanization levels for the provinces were below 0.6645.Similarly,the threshold effect was noted in the western region when the urbanization level was below 0.3931.Considering all of this,the study also offers policy recommendations that will help balance the regional development of digital economies,accelerate the digital transformation of traditional industries,enhance digital infrastructure construction,refine the formulation and implementation of data policy,and establish relevant incentive mechanisms.

Are cities greener because of innovation?Independent innovation policy and green economic efficiency

The national independent innovation demonstration zone(NIIDZ)is an independent innovation policy that plays a crucial role in implementing strategies.Given the importance of the NIIDZ,this study uses panel data of 278 prefecture-level cities in China from 2006 to 2020 and empirically examines the effect and internal mechanism of the NIIDZ on green economic efficiency(GEE)using the difference-in-difference model(DID).The results show that the NIIDZ effectively enhances the growth of GEE,and the results remain valid through several robustness tests,such as year-by-year propensity score matching.The transmission mechanism suggests that the NIIDZ indirectly drives GEE by accelerating scientific and technological investment,promoting talent concentration,and optimizing the industrial structure.Moreover,heterogeneity analysis reveals that the promotion effect of the NIIDZ on GEE is more prominent in the eastern region and high green development level areas.The study’s findings can serve as a reference for China to further utilize the policy effectiveness of the NIIDZ and accelerate the high-quality development of the green economy in the future.

Using Circular Economics Strategies to Manage Tourism on Remote Islands:A SMART Approach

Circular economics theory offers destination managers of remote islands a solution-oriented approach to environmental sustainability. This paper examines the practical benefits of this theory that will support the development of a circular economy regarding sustainable island tourism (SIT). The aim of this paper is to inform discussions regarding the feasibility of applying a practice theory that emphasises changes in the behaviours across three segments, visitors, residents, and enterprises using SMART technologies. To achieve this objective, a SMART indicator system (SIS) was used to identify current practices that would support a circular economy (CE). The key innovation of this study is the creation of a proposed framework that may inform best practices for SIT in the future. The findings highlight the potential opportunity of evidenced-based planning to deliver a circular economy strategy (CES) for remote islands in the future. These insights can potentially impact the way that local authorities and destination managers approach the planning of tourism for six islands along the west coast of Ireland.

Study on the Influence of Lanzhou-Urumqi High-Speed Railway on Regional Accessibility and Economic Development

The Lanzhou-Urumqi high-speed railway is an important part of the railway network connecting Gansu,Qinghai,and Xinjiang,and it is of far-reaching significance in facilitating China’s western development.An accessibility model and a double difference model were built to analyze the impact of the Lanzhou-Urumqi high-speed railway on regional accessibility and economic development of the areas along the line before(2012-2014)and after(2017-2019)its opening.The results show that the regional accessibility remains unchanged before and after the operation of this railway line.However,there is a spatial difference in improvement,that of central cities being better.The opening of the high-speed railway is conducive to driving the overall economic development of the region and promoting the comprehensive and coordinated development of regional economies.

Research on Sports Public Service Supply in the Chengdu-Chongqing Twin-City Economic Circle under the Background of Regional Economic Development

Using literature,questionnaires,interviews,and mathematical statistics to investigate the current situation of sports public services in the Chengdu-Chongqing Twin-city Economic Circle.The results show that there are some problems in Chengdu-Chongqing sports public services,such as big difference in the development level of supply between urban and rural areas,low supply level,low efficiency,supply mechanism defect,lack of social sports instructors,an outstanding contradiction between the quality of sports public service and residents’demand.To address the problems,government departments should accelerate the transformation of government functions,improve the relevant regulations and systems,increase the investment in sports public services,improve the quality of supply,cultivate the backbone team,integrate resources,and combine the national characteristics with regional characteristics,take into account the personalized needs of the residents,combine the sports public services with intelligence,and build the service system of“Internet+Fitness.”

The Thinking of Financing under Dual Economies Character In Medium & Small Enterprises

In China,the dual economies show prominence in financial field.It leads to the serious dual credit ration and becomes one of the main cause which makes financing in medium & small sized enterprises becomes harder and harder.On basis of this situation,we theoretically pose that we can alleviate the difficulty through the dual cooperation of financial control and the deepening of finance.

A Note on an Economic Lot-sizing Problem with Perishable Inventory and Economies of Scale Costs:Approximation Solutions and Worst Case Analysis

This paper presents an economic lot-sizing problem with perishable inventory and general economies of scale cost functions. For the case with backlogging allowed, a mathematical model is formulated, and several properties of the optimal solutions are explored. With the help of these optimality properties, a polynomial time approximation algorithm is developed by a new method. The new method adopts a shift technique to obtain a feasible solution of subproblem and takes the optimal solution of the subproblem as an approximation solution of our problem. The worst case performance for the approximation algorithm is proven to be （4√2 ＋ 5）/7. Finally, an instance illustrates that the bound is tight.

Preventive Countermeasures for "Immiserizing Growth in Expanding Economies" in China's Rural Areas in the New Era

On the basis of defining the concept of "immiserizing growth in expanding economies",through analysing the status quo of economy in China's rural areas in the new era,this paper aims to find out the factors responsible for economic weakness of China's rural residents.It analyses the impact of market consuming economy on growth economy,and points out the phenomenon of "immiserizing growth in expanding economies" which may be triggered by China's rapid rural economic growth as follows:first,the income disparity between urban and rural residents increases ceaselessly,the commodity prices continuously soar,and the rural residents' market consuming capacity is short;second,the wealth concentrates highly and the majority of farmers' income is low.Thus we put forward the countermeasures and proposals for preventing "immiserizing growth in expanding economies" in rural areas as follows:we should reform household registration system so that the rural residents have the right to migrate freely,and farmers' status is promoted;we should coordinate urban-rural development,strengthen agriculture and rural infrastructure building and achieve impartial allocation of public resources;we should carry out redistribution on income scientifically and effectively,consolidate rural social security system,bridge urban-rural income gap,transform the comparative advantage into competitive advantage,so as to circumvent "immiserizing growth in expanding economies".

MEASUREMENT OF AGGLOMERATION ECONOMIES AT COUNTY LEVEL IN JIANGSU PROVINCE

Agglomeration economies are the important factors for the regional development. However, the common indicators to measure them, such as Gini Coefficients neglect the spatial ingredient of data, leading to a-spatial estimates. In order to assess spatial neighbor effects of agglomeration economies, this study makes the new attempts by applying a series of techniques of spatial autocorrelation analysis, specifically, measuring the economies of urbanization and localization at the county level in the secondary and tertiary industries of Jiangsu Province in 1999 and 2002. The conclusions in this study reveal that on the whole, the localization effects on the economies of the secondary industry might be stronger than urbanization effects for that period, and highly agglomerative economies were limited within the southern Jiangsu and parts of middle along the Changjiang (Yangtze) River. Moreover, the tertiary industry has been strong urbanization rather than localization economies in the whole Jiangsu. Unlike the secondary industry, the tertiary industry held the high levels of agglomeration economies can be also found in the poor northern Jiangsu, and then the spatial clusters of trade and services might be basically seen in each of urban districts in 13 cities. All in all, spatial autocorrelation analysis is a better method to test agglomeration economies.

The Environmental Impacts of Informal Economies in China: Inverted U-shaped Relationship and Regional Variances

This paper aims to the debate on the nexus between informal economies and the environment by investigating the long-term dynamic impacts of China’s informal economies on pollution and considering regional differences in informal economies’ pollution.This paper uses the Multiple Indicators Multiple Causes(MIMIC) model to estimate the size of informal economies and employs econometric models to examine their relationships to pollution based on provincial-level panel data from 2000 to 2017. The results indicate that informal economies’ effects on environmental pollution are not purely positive or negative. Rather, our model indicates that there is an inverted U-shaped relationship between informal economies and pollution in the long run in China;this means that the level of environmental pollution increases at first and then decreases with the growth of informal economies. Further analysis shows that while this inverted, U-shaped relationship is significant in different regions of China, it is affected by different environmental impact factors. The paper concludes by discussing the policy implications for environmental protection and sustainable development.

Ecological Network Analysis Quantifying the Sustainability of Regional Economies: A Case Study of Guangdong Province in China

To meet the challenge of sustainable development, sustainability must be made. Ecological network analysis(ENA) was introduced in this paper as an approach to quantitatively measure the growth, development, and sustainability of an economic system. The Guangdong economic networks from 1987 to 2010 were analyzed by applying the ENA approach. Firstly, a currency flow network among economic sectors was constructed to represent the Guangdong economic system by adapting the input-output(I-O) table data. Then, the network indicators from the ENA framework involving the total system throughput(TST), average mutual information(AMI), ascendency(A), redundancy(R) and development capacity(C) were calculated. Lastly, the network indicators were analyzed to acquire the overall features of Guangdong's economic operations during 1987–2010. The results are as follows: the trends of the network indicators show that the size of the Guangdong economic network grows exponentially at a high rate during 1987–2010, whereas its efficiency does not present a clear trend over its whole period. The growth is the main characteristic of the Guangdong economy during 1987–2010, with no clear evidence regarding its development. The quantitative results of the network also confirmed that the growth contributed to a great majority of the Guangdong economy during 1987–2010, whereas the development's contribution was tiny during the same period. The average value of the sustainability indicator(α) of the Guangdong economic network was 0.222 during 1987–2010, which is less than the theoretically optimal value of 0.37 for a sustainable human-influenced system. The results suggest that the Guangdong economic system needs a further autocatalysis to improve its efficiency to support the system maintaining a sustainable evolvement.