This research seeks to identify the value of a few common factors determining the speed of economic growth in Baltic states and analyzes their impact in detail on Latvia’s lagging. Latvia’s economic starting point after regaining independence because of the collapse of the Soviet Union was at least comparable to its neighbors. Still, after the implementation of liberal reforms towards a free market’ economy and 20 years of operation as an EU full member, Latvia is lagging in growth, prosperity, and innovation. Within the analysis, this scientific paper pays special attention to the three less discussed factors, namely, the impact of post-Soviet mind-set effects as a part of local innovation culture, lasting since regaining independence in 1991; the importance of the availability of talent pull, its density, diversity, and accessibility; and readiness and capability to capture external knowledge and technology adoption. The overall approach is the systemic assessment of the national innovation system and/or innovation ecosystem, trying to understand the differences between these two models. Research is performed by analysis of the performance of the local innovation ecosystem in connection with export- and Foreign Direct Investment (FDI) policies. The authors present a novel method for visually representing economic growth and its application in analyzing process development within transitional economic nations. The study uses an analytical and synthetical literature review. It offers a new GDP data visualization method useful for monitoring economic development and forecasting potential economic crises—the outcomes from aggregative literature analysis in a consolidated concept are provided for required talent policy proposals. The post-Soviet mindset is seen as a heritage and devious underdog that has left incredibly diverse consequences on today’s society, power structures, economic growth potential, and the emergence of healthy, well-managed, and sustainable innovation ecosystems. The post-Soviet mindset is a seemingly hidden and, at the same time, an intriguing factor that has a significant impact on the desire to make and implement the right decisions related to innovation, education, and other policies promoting business development. The key outcome of the article is that sociocultural aspects and differences in innovation culture led to a slow-down of Latvia’s economic growth compared to Estonia’s and Lithuania’s slightly more successful economic reforms.

Air cargo transportation accounts for less than 1% of the global trade volume, yet it represents approximately 35% of the total value of goods transported, highlighting its strategic importance in trade and economic development. This study investigates the relationship between domestic air cargo transport in Brazil and key macroeconomic variables, focusing on how regional economic dynamism, logistical infrastructure, and population density impact the country’s development. Using a panel data regression model covering the period from 2000 to 2020, the study analyzes the evolution of air cargo transportation and its role in redistributing economic growth across Brazil’s regions. The findings emphasize the key factors influencing the air cargo sector and demonstrate how these factors can be leveraged to optimize public policies and business strategies. This research provides valuable insights into the relevance of air cargo transportation for regional and national development, particularly in emerging economies like Brazil, offering guidance for the formulation of strategies that promote balanced economic growth across regions.

This study explores the role of arts management in regional economic development within major Chinese cities, including Beijing, Shanghai, and Shenzhen. Cultural organizations—such as museums, theaters, and galleries—contribute significantly to local economies through tourism, job creation, and the enhancement of cultural branding. Using a qualitative approach, 18 semi-structured interviews with arts managers and policymakers selected based on their influential roles in cultural organizations across these cities. The interviews were analyzed using thematic analysis, which identified key themes including the economic impact of cultural organizations, the influence of government policies, challenges in arts management, and the role of cultural tourism in fostering regional growth. The findings reveal that while government policies play a pivotal role in supporting cultural organizations, providing crucial funding, tax incentives, and infrastructure development, concerns remain about the long-term sustainability of funding due to shifting political and economic priorities. Additionally, arts managers face challenges related to balancing artistic goals with financial viability, particularly as the sector becomes increasingly competitive and technology-dependent. Key challenges identified include securing stable funding sources, adapting to digital technologies, talent retention, and maintaining artistic integrity amid commercial pressures. The study highlights the need for diversified funding models such as public-private partnerships and alternative revenue streams and suggests further exploration into the role of smaller cultural organizations in rural regions to promote inclusive regional development. Practical recommendations include developing strategies to enhance financial sustainability, investing in digital capabilities, and formulating policies that provide long-term support for the cultural sector. Overall, the research contributes to a better understanding of how effective arts management can drive regional economic development and offers practical recommendations for strengthening the sustainability of China’s cultural sector.

This study investigates the evolution of monetary policy in Ghana and explores the potential of Central Bank Digital Currencies (CBDCs), specifically the e-Cedi, as a tool to enhance financial inclusion and modernize the country’s financial system. Ghana’s monetary policy framework has undergone significant transformations since the establishment of the Bank of Ghana in 1957, with notable achievements in stabilizing the economy and managing inflation. However, large segments of the population, particularly in rural areas, remain unbanked or underbanked, highlighting the limitations of traditional monetary tools. The introduction of the e-Cedi presents an opportunity to bridge these gaps by providing secure, efficient, and accessible financial services to underserved communities. The study employs a qualitative research design, integrating historical analysis, case studies, and thematic analysis to assess the potential benefits and challenges of CBDCs in Ghana. Key findings indicate that while the e-Cedi could significantly enhance financial inclusion, challenges related to technological infrastructure, cybersecurity, and public trust must be addressed. The study concludes that a balanced approach, which prioritizes digital infrastructure development, strong cybersecurity measures, and collaboration with financial institutions, is essential for maximizing the potential of CBDCs in Ghana. Recommendations for future research include a deeper exploration of the impact of CBDCs on financial stability and further analysis of rural adoption barriers.

This research examines the intricate connection between tourism and environmental destruction in 28 Asian countries, concentrating on the non-linear impacts of tourism. Moreover, this study contemplates how tourism can mitigate the effects of economic growth on environmental decline. Westerlund, Johansen-Fisher, and Pedronico-integration tests are necessary to detect the co-integration connection between the proposed factors. The research also uses the Augmented Mean Group; the dynamic system generalized method of moments, and fully changed Ordinary Least Squares (OLS). These tools help address econometric and economic problems such as co-integration, dynamism, variation, inter-sectional dependence, and endogeneity. The results demonstrate a U-shaped non-linear connection between ecological footprint and Tourism in Asian nations. Primarily, the tourism industry can initially decrease environmental damage. However, as it increases in size, it can worsen the harm. Additionally, the study suggests that tourism negatively influences how economic growth affects ecological footprint. This research contributes to the existing literature on tourism’s effects on the environment. The research suggests that tourism significantly impacts the environment; therefore, initiatives to reduce damage should be aimed at tourism.

This research analyzes the relationship between political stability, renewable energy utilization, economic progress, and tourism in Indonesia from 1990 to 2020. We employ advanced econometric techniques, including the Fourier Bootstrap Autoregressive Distributed Lag (ARDL) approach and Fourier Toda-Yamamoto causality testing, to ensure the robustness of our results while accounting for smooth structural changes in the data. The analysis uncovers a long-term equilibrium relationship between tourism and its fundamental determinants. Our research reveals significant positive impacts of political stability and renewable energy consumption on tourism in Indonesia. A stable political environment creates a favorable climate for tourism development, instilling confidence in both domestic and international tourists. Promoting renewable energy usage aligns with sustainable tourism practices, attracting environmentally conscious travelers. Furthermore, our findings demonstrate a bi-directional causal relationship between these variables over time. Changes in political stability, renewable energy consumption, and economic growth profoundly influence the tourism sector, while the growth of tourism itself can also stimulate economic development and foster political stability. Our findings underscore the need for environmentally sustainable and politically stable tourism policies. Indonesia’s tourism sector can grow sustainably with renewable energy and stability. Policymakers can develop strategies with tourism, political stability, renewable energy, and economic prosperity in mind.