This study evaluates the effectiveness of Indonesia’s defense industry policy from 2018 to 2023, focusing on PT Pindad, a pivotal state-owned defense enterprise. Using a Balanced Scorecard (BSC) framework, the study assesses PT Pindad’s performance across financial, customer, internal process, and learning and growth perspectives. The findings reveal strengths in financial stability (Current Ratio at 115.57% in 2023) and customer satisfaction, but challenges in Return on Investment (ROI), which fell from 6% in 2022 to 5.46% in 2023, signaling a need for further internal improvements. A mediation analysis using Shape-Restricted Regression indicates that Research and Development (R&D) serves as a crucial mediator, enhancing the impact of strategic alliances and technology transfer on PT Pindad’s self-reliance, with R&D showing a positive coefficient of β = 0.53 (p < 0.01). The systematic literature review complements these findings, underscoring the role of technology transfer, human capital development, and strategic partnerships as essential components for strengthening PT Pindad’s self-reliance and global competitiveness. Recommendations are made to enhance policy effectiveness by fostering robust technology transfer mechanisms, increasing investment in human capital, and expanding strategic partnerships. This research contributes to the literature on defense industry policies by providing a comprehensive evaluation framework that informs future policy decisions.

This research examines data from 1989 to 2022 across 48 Sub-Saharan African (SSA) countries using a novel panel data regression approach to uncover how conflict undermines economic stability. The study identifies the destruction of infrastructure, disruption of human capital development, and deterrence of investment as primary channels through which conflict negatively impacts economies. These findings support the hypothesis that armed conflict severely hampers economic performance in SSA, highlighting the urgency for effective conflict resolution strategies and robust institutional frameworks. The negative impacts extend beyond immediate losses, altering income growth trajectories and perpetuating poverty long after hostilities cease. Regional spillover effects emphasize the interconnectedness of SSA economies, where conflict in one country affects its neighbors. The research provides innovative insights by disaggregating impact pathways and employing a robust methodology, revealing the complexity of conflict's economic consequences. It underscores the need for comprehensive policy interventions to foster resilience and sustainable development in conflict-prone regions. While there is evidence of potential post-conflict growth, the overall net effect of armed conflict remains profoundly negative, diminishing economic prospects. Future research should focus on strengthening long-term resilience mechanisms and policy measures to enhance the peace dividend. Addressing the root causes of conflict and investing in peace-building efforts are essential for transforming SSA's economic landscape and ensuring sustainable growth and development.

This paper examines the detrimental impact of rapid inflation on the quality of private education in developing countries. By focusing on the financial challenges faced by private schools, the study highlights the tension between education policy and economic realities. While private schools often attract parents with smaller class sizes and specialized programs, the core motivation lies in investing in children’s future through quality education. However, this study demonstrates how inflation can cripple this sector. The case of Turkey exemplifies this challenge. Post-pandemic inflation created a financial stranglehold on private schools, as rising costs made it difficult to adjust teacher salaries. This, in turn, led to teacher demotivation and a mass exodus, ultimately compromising educational quality. Furthermore, government interventions aimed at protecting parents from high tuition fees, through limitations on fee increases, inadvertently sacrificed the very quality they sought to safeguard. The paper concludes by advocating for alternative policy approaches that prioritize direct support for education system during economic downturns. Such measures are crucial for ensuring a strong and resilient education system that benefits all stakeholders, including parents, students, and the nation as a whole.

This study uses dynamic capability theory and a resource-based view to examine whether intellectual capital (human, relational, and structural capital) mediates entrepreneurial leadership and innovation success. Drawing on data from 422 senior-level employees working in Peruvian I.T. companies, the proposed relationships were analyzed using SmartPLS 4. Entrepreneurial leadership was found to foster employees’ innovative performance through the mediating role of human capital, relational capital, and structural capital. Practically, businesses often rely on innovation for survival and growth, so they should consider entrepreneurial leadership to create intellectual capital (human capital, relational capital and structural capital) for innovation performance. Businesses should provide entrepreneurial training that emphasizes role modeling intellectual capital and encourages employees to recognize and pursue entrepreneurial opportunities. With significantly limited research, the study contributes by investigating the interrelationship of entrepreneurial leadership, intellectual capital, and innovation performance. The study contributes to the Resource Based View and Dynamic Capability Theory by demonstrating how entrepreneurial leadership contributes to innovation performance through human capital, relational capital, and structural capital.

COVID-19 has amplified existing imbalances, institutional and financing constraints associated with a development strategy that did not take sufficient account of challenges with emissions, environmental damage and health risks associated with climate change in a number of countries, including China. The recovery from the pandemic can be combined with appropriately designed investments that take into account human, social, natural and physical capital, as well as distributional objectives, that can also address commitments under the Paris agreement. An important criterion for sustainable development is that the tax regimes at the national and sub-national levels should reflect the same criteria as the investment strategy. Own-source revenues, are essential to be able to access private financing, including local government bonds and PPPs in a sustainable manner. Governance criteria are also important including information on the buildup of liabilities at all levels of government, to ensure transparent governance.
Despite differences in political systems, the Chinese experiences are relevant in a wide range of emerging market countries as the measures utilize institutions and policies reflecting international best practices, including modern tax administrations for the VAT, and income taxes, and benefit-linked property taxes, as well as utilization of balance sheets information consistent with the IMF’s Government Financial Statistics Manual, 2014. The options have significant implications for policy advice and development cooperation for meeting global climate change goals while ensuring sustainable employment generation with transparency and accountability.

Investment growth in many emerging market and developing economies (EMDEs) has slowed sharply since 2010. Investment growth performance has varied significantly across different regions, however. This paper examines the evolution of investment growth in six EMDE regions, documents remaining investment needs, especially for infrastructure, and presents a set of region-specific policy responses to address these needs. It reports three main findings. First, investment growth has been particularly weak in EMDE regions hosting a large number of commodity exporters. In regions with a substantial number of commodity-importing economies, investment growth has been somewhat resilient but has also declined steadily since 2010. Second, sizable investment needs remain in most EMDE regions to make room for expanding economic activity and rapid urbanization. A large portion of these investment needs is in infrastructure and human capital. Finally, while specific policy priorities vary across regions, several policy options to address remaining investment needs apply universally. These include more, and more efficient, public investment and measures to improve overall growth prospects and the business climate. Improved project selection and monitoring, as well as better governance, may enhance the efficiency and benefits from public investment.