To analyze the effect of an increase in the quantity or quality of public investment on growth, this paper extends the World Bank’s Long-Term Growth Model (LTGM), by separating the total capital stock into public and private portions, with the former adjusted for its quality. The paper presents the LTGM public capital extension and accompanying freely downloadable Excel-based tool. It also constructs a new infrastructure efficiency index, by combining quality indicators for power, roads, and water as a cardinal measure of the quality of public capital in each country. In the model, public investment generates a larger boost to growth if existing stocks of public capital are low, or if public capital is particularly important in the production function. Through the lens of the model and utilizing newly-collated cross-country data, the paper presents three stylized facts and some related policy implications. First, the measured public capital stock is roughly constant as a share of gross domestic product (GDP) across income groups, which implies that the returns to new public investment, and its effect on growth, are roughly constant across development levels. Second, developing countries are relatively short of private capital, which means that private investment provides the largest boost to growth in low-income countries. Third, low-income countries have the lowest quality of public capital and the lowest efficient public capital stock as a share of GDP. Although this does not affect the returns to public investment, it means that improving the efficiency of public investment has a sizable effect on growth in low-income countries. Quantitatively, a permanent 1 ppt GDP increase in public investment boosts growth by around 0.1–0.2 ppts over the following few years (depending on the parameters), with the effect declining over time.
The objectives achieved in the Paris Agreement to reduce greenhouse gas emissions and reduce dependence on fossil fuels have caused, in recent years, a growing importance on sustainability in companies in order to reduce Environmental, social and economic impacts. This study is focused on understanding how the variation in West Texas Intermediate crude oil prices affects the Dow Jones Sustainability Index, and therefore the companies included in it, and vice versa. The research aims to examine the statistical properties of both indices, using fractional integration methods, the fractional cointegration vector autoregressive (FCVAR) approach and the continuous wavelet transform (CWT) technique. The results warn of a change in trend, with the application of extraordinary measures being necessary to return to the original trend, while the analysis of cointegration and wavelet analysis measures reflect that an increase in those adopted based on sustainability by the different companies that make up the index imply a drop in the price of crude oil.
Amidst China’s burgeoning population and rapid technological strides, this study explores how elderly citizens navigate and embrace electronic governance (e-governance) platforms. Addressing a crucial gap in knowledge, we delve into their limited digital fluency and its impact on e-governance adoption. Our meticulously crafted online survey, distributed via WeChat across significant cities (Beijing, Shanghai, Tianjin, Changsha), yielded 396 responses (384 analyzable). Utilizing Structural Equation Modeling (SEM), we unearthed key influencers of subjective norms, including perceived ease and usefulness, trust, supportive conditions, and past tech exposure. These norms, in turn, positively shape attitudes. Crucially, educational background emerges as a moderator, amplifying the positive link between attitudes and e-governance engagement intent. This underscores the necessity of an inclusive, customized e-governance approach, offering valuable policy insights and advocating for holistic solutions for older adults. Our research yields empirical and theoretical contributions, paving the way for actionable Social Sustainability Marketing Technologies in China, particularly championing digital inclusivity for seniors.
The primary purpose of the current study is to investigate the impact of entrepreneurial orientation on the international performance of SMEs. In addition, the study has also examined the mediating Role of social capital and global mindset in the relationship between entrepreneurial orientation and the international performance of SMEs. The present business situation for Sustainability depends on the company's capability and the existing capital, which comprises expertise, skills, and company capability, which force its ability to compete and utilize the valued resources with strategy. In organizational processes, a company's abilities and capital enhance its performance, especially in profit earning and forming a strategy. According to the resources-based theory, the group of internal abilities and resources in the firm may produce competitive benefits and result in more excellent performance. We have used PLS path modeling in the present study to analyze the theoretical model. Entrepreneurial orientation is a resource that indicates the extent of a business' proactive state, risk-taking innovativeness, competitive belligerence, and autonomy. Regarding the effect of social capital on international performance, the findings demonstrate a significant and positive correlation between the two variables regarding the effect of a global mindset on international performance; the findings indicate a significant correlation between the two variables. In general, the findings of this current study are consistent with those of previous ones, whereby the global mindset is indicated to play a significant role in achieving international performance for SMEs. The findings also align with the theory of contingency assertion about the global mindset, whereby the positive effect of intellectual intelligence on international performance is confirmed.
This study assesses the implementation of socioformation in Public Higher Education Institutions (HEIs) in Mexico, exploring its impact on the quality of education in the knowledge society. With a sample of 150 educators, gender-balanced (44.7% female, 55.3% male), and an average age of 43.7 years, the research employed a validated socioformative rubric. Significant progress was observed in analytical and creative thinking, while areas related to living conditions and entrepreneurship education showed slower development. The findings highlight the advancements in socioformation but advocate for further research, including classroom observation and student evidence collection. Gender differences, communication, and leadership emerged as critical factors influencing socioformation implementation. Women demonstrated deeper comprehension of the educational model, willingness to adopt innovative strategies, and emphasis on socioformation axes. As educators gain experience, their adaptability to new pedagogical approaches increases. The study underscores the universal relevance of effective communication, leadership, and stakeholder involvement in successful educational model implementation. The research contributes valuable insights, emphasizing the importance of openness to new approaches and collaboration to prepare students for the challenges of the evolving knowledge society.
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