With the development of the times and changes in the environment of traditional martial arts, Choi Lei Fut (a Chinese martial arts system), a Chinese state-level intangible cultural heritage, is facing many difficulties in its inheritance and sustainable development. Especially in the context of COVID-19 pandemic prevention and control measures, the sustainable development of Choi Lei Fut is facing increasingly serious challenges. In order to understand the current situation of Choi Lei Fut’s survival and development in the new era, and to enhance the momentum and vitality of its sustainable development, this study combines questionnaire survey and field interviews to investigate and analyze the current situation. Based on this, it proposes strategies to promote the sustainable development of Choi Lei Fut. This study will not only provide methodological reference for the inheritance and development of Choi Lei Fut but also offer insights for the inheritance and sustainable development of other Chinese martial arts gyms and even martial arts practices elsewhere.

This empirical inquiry adopts the AutoRegressive Distributed Lag (ARDL) model to meticulously examine the multifaceted interconnections among innovation, globalization, and productivity across a diverse set of 76 nations, encompassing both developed and developing economies. The research employs rigorous econometric techniques within the ARDL framework to discern the short- and long-term effects of innovation and globalization on productivity levels. The findings underscore a robust and statistically significant association between innovation and productivity, as well as a constructive impact of globalization on enhancing productivity. The outcomes underscore the transformative potential of innovation and the facilitating role of globalization in fostering productivity growth. This empirical evidence contributes to the empirical literature by offering a refined understanding of the intricate relationships shaping productivity patterns on a global scale, emphasizing the joint influence of innovation and globalization in driving economic efficiency.

This study investigates the intricate relationship between a nation’s GDP growth rate and three key variables: the number of granted patents, research and development (R&D) expenditure, and education expenditure. The purpose of the research is to discern the impact of these factors on GDP growth rates. Drawing on theoretical frameworks, including Dynamic Ordinary Least Squares (DOLS), Fully Modified Ordinary Least Squares (FMOLS), and Canonical Correlation Regression (CCR) techniques, the paper employs a robust methodological approach to unveil insights into the dynamics of economic growth. Contrary to conventional assumptions, the results reveal a negative correlation between R&D expenditure and GDP growth rate. In contrast, the number of patents granted and education expenditure shows a positively significant effect on the GDP growth rate, underscoring the pivotal roles of intellectual property creation and education investment in fostering economic growth. The conclusion emphasizes the importance of a nuanced understanding of these relationships for policymakers. The research’s implications highlight the need for balanced investments in innovation and education. The originality and value of this study lie in its unique findings challenging established beliefs about the impact of R&D expenditure on economic growth.

Sustainable development has emerged as a global imperative, with the rapid adoption of the Environmental, Social, and Governance (ESG) framework reflecting this trend. In the context of digital transformation, this study aims to investigate the impact of ESG performance on corporate value, while also examining the moderating and mediating roles of digital transformation and green innovation within this relationship. Utilizing annual data from A-share listed companies on the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) spanning the years 2018 to 2022, this research encompasses a total of 17,940 observations. Given China’s commitment to sustainable, high-quality development, this study underscores the critical importance of advancing ESG principles alongside corporate digital transformation. Empirical analysis reveals that ESG performance significantly enhances firm value, with digital transformation serving as a positive moderator that amplifies the impact of ESG performance on firm value primarily through the enhancement of firms’ green technology innovation capabilities. These findings contribute to a deeper understanding of the interaction between ESG initiatives and firm value, particularly amidst ongoing digital advancements. Consequently, this paper recommends that governments enhance corporate ESG performance through a combination of incentive and penalty mechanisms, establish a comprehensive ESG rating system, and optimize the policy framework for digital transformation. Moreover, enterprises should foster awareness of green innovation, refine their governance structures, accelerate digital transformation efforts, and promote the application of digital technologies and information sharing across various domains to achieve sustainable development and enhance competitiveness.

The impact of crude oil price fluctuations on the real effective exchange rate (REER) has been widely debated, but specific evidence, particularly for developing countries in Southeast Asia, is scarce and inconclusive. This issue, especially concerning both short- and long-term relationships, remains inadequately addressed, affecting these countries for risk management related to oil price fluctuations. This study aims to fill this gap by examining these relationships in Thailand context to provide more evidence on how the REER in Southeast Asia responds to changes in crude oil prices. Monthly data of crude oil prices in Dubai market and the Thai baht REER from 2000 to 2019 were employed. Johansen co-integration test and Vector Error Correction Model (VECM) were used for analyzing long-term and short-term relationships, respectively. The results indicate a significant negative long-term relationship between crude oil prices and the REER, with a 0.31% reduction in the REER for every 1% increase in the real price of oil. However, in the short term, VECM analysis reveals significant movements in the REER in response to external shocks. On average from 2000–2019, the significant fluctuations in the REER are quickly alleviated and adjusted to its long-run equilibrium, typically by 2% in the following month following external shocks such as crude oil price fluctuations. Given these findings, which highlight the long-term relationship between the REER and crude oil prices and its short-term adjustment, it is suggested that when there is a shock from the crude oil prices, the government can strengthen short-term oil price controls or monetary subsidies to mitigate the extensive repercussions of energy market fluctuations, as such interventions would have a lesser impact on the long-term equilibrium of the REER.

This paper aims to advance the knowledge in the domain of youth entrepreneurship and empowerment in the United Arab Emirates (UAE). The rationale is to address the gap in knowledge on entrepreneurship and youth empowerment in the UAE by analyzing strategies and initiatives that support empowering millennials to achieve sustainable development, with the aim of promoting youth entrepreneurship and supporting sustainable economic development. The primary research question guiding this study is: “What strategies and initiatives in the UAE foster the empowerment of the millennial generation for sustainable development?” This study relies on a mixed methodology that combines a descriptive approach, content analysis, and data meta-analysis, with the aim of exploring the relationship between youth entrepreneurship and sustainable development in the United Arab Emirates. with a focus on the future sustainability leaders (FSL) program. While the FSL program demonstrates its significance in promoting youth entrepreneurship and empowerment, it also reveals certain limitations in its design and implementation that may hinder sustainable economic development. To address these challenges and support youth entrepreneurship, the paper proposes three essential action-oriented approaches: promoting participatory diversity and engagement, managing entrepreneurship drivers, and ensuring access to essential support mechanisms. These recommendations are intended to guide multilateral agencies, voluntary sectors, and private entities in the UAE in designing, evaluating, and implementing effective youth entrepreneurship programs. This paper underscores the importance of continued discourse and critical input to refine existing theories and establish a normative framework for youth entrepreneurship and empowerment. Such efforts are crucial for poverty reduction, sustainable development, and the promotion of intergenerational equity.