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Concept Paper
Business, Economics and Management
Economics

Satyadhar Joshi

Abstract: Generative Artificial Intelligence (GenAI) has emerged as a transformative technology with significant implications for education and the workforce. This paper explores the opportunities and challenges posed by GenAI in these domains. We review recent studies and reports to analyze how GenAI is reshaping teaching and learning processes, as well as its impact on job markets. The paper highlights the potential of GenAI to enhance productivity, personalize education, and create new job opportunities, while also addressing concerns such as job displacement, ethical considerations, and the need for upskilling. We conclude with recommendations for policymakers, educators, and industry leaders to harness the benefits of GenAI while mitigating its risks. This paper also presents a comprehensive review of the impact of generative artificial intelligence (AI) on employment and education. We analyze recent developments in AI technology, its applications in various industries, and its implications for the future of work and learning. The review covers the potential benefits and challenges of AI integration in the workforce and educational systems, highlighting the need for adaptive strategies and policies to harness AI's potential while mitigating its risks. This paper further explores the multifaceted impact of Artificial Intelligence (AI) on the labor market and educational sectors. We examine the current trends and potential future scenarios, focusing on the replacement of traditional jobs, the creation of new opportunities, and the necessary adaptations in education to prepare for an AI-driven world. We analyze the perspectives of educators, industry professionals, and policymakers, highlighting the challenges and opportunities presented by the rapid advancement of AI technologies.
Article
Business, Economics and Management
Economics

Yaakov Bayer

Abstract: This paper introduces a theoretical model to explain how perfectionist tendencies, particularly among individuals exhibiting obsessive-compulsive traits, can lead to violations of transitive preferences and inefficient decision-making behavior. Drawing from behavioral economics and clinical psychology, we propose a deficiency-penalized utility framework in which individuals evaluate each option both on its intrinsic value and on the deficiencies it displays relative to other available alternatives. In contrast to classical models of bounded rationality, which focus on cognitive limitations such as limited information or computational constraints, our approach emphasizes affective distortions—namely, the tendency to overweight flaws or imperfections in decision-making. This results in non-transitive preference cycles, such as A being preferred to B, B to C, yet C to A, driven by emotionally salient comparisons. We formalize this behavior through a utility model in which the standard valuation of an alternative is penalized by the relative magnitude of its inferiority along salient attributes. The model provides an intuitive explanation for decision paralysis, excessive deliberation, and post-choice regret observed among perfectionist agents.Beyond its theoretical contribution, the model has significant implications for consumer behavior, mental health economics, and behavioral policy design. It offers insights into the economic burden associated with obsessive-compulsive behavior and proposes new criteria for evaluating welfare in cases where preferences are not only bounded but emotionally biased. Furthermore, the model suggests pathways for designing supportive decision environments that mitigate the emotional costs of imperfection and help restore agent coherence in the face of complex or emotionally fraught choices.Overall, this paper expands the scope of economic modeling by integrating emotional mechanisms into the structure of preferences, contributing to a more psychologically informed understanding of rationality, welfare, and behavioral anomalies.
Article
Business, Economics and Management
Economics

Kewei Liu,

Christopher Gan,

Baiding Hu

Abstract: This study investigates whether market discipline on Chinese state-owned enterprises (SOEs) improved after the default wave of SOE bonds in 2020. We use Flannery’s classical definition of two-side market discipline, market monitoring and market influencing, as the criteria to measure the credibility of the gradual marketization reform. Using secondary market corporate bond transactions' dynamic panel data with the SYS-GMM estimator, we find that investors actively monitored the risk profile of bond issuers before 2020, and the monitoring effect is enhanced as investors become more sensitive to the default risk of bond issuers. Our results reveal that bond market discipline is more pronounced in economically developed regions but less in systematically important industries. We also note that no-bailout cases of SOEs in a province surprisingly do not induce other SOEs in the province to take more risks, which suggests a lack of market discipline on the risk-taking of SOEs before the reform; the effect is reversed after 2020. Overall, the gradualism strategy of the Chinese central government has improved market discipline towards SOEs in some respects. Our findings support several policy implications for further enhancing market discipline and regulating risk-taking by SOEs.
Article
Business, Economics and Management
Economics

Aruna A,

Weiwen Rao,

Meixuan He,

Honggui Gao

Abstract: Rapid urbanization has continuously exacerbated the ecological systems and resource-environment issues. Urban green spaces (UGS) are crucial for ecological balance, improving living environments, and promoting sustainable development. Using the panel data of 249 cities in China from 2006 to 2022, this work examines the impact of UGS on sustainable development. The findings reveal: firstly, UGS significantly promote sustainable development; secondly, the mechanisms primarily manifest in ecosystem services and industrial upgrading; lastly, the impact exhibits notable spatial heterogeneity, with more pronounced effects in resource-dependent cities, central-western regions, and areas with lower economic development levels. This study underscores the importance of UGS in sustainable development and proposes scientifically planned resource utilization to fully realize its potential in enhancing urban ecosystem functions, improving living environments, and fostering socio-economic sustainability, ultimately achieving urban sustainable development goals.
Article
Business, Economics and Management
Economics

Jamil Taghiyev,

Elnara Gulaliyeva

Abstract: In recent years, Uzbekistan has been expanding its export product basket and introducing new products to the world market. One of these products is fresh and dried grapes. Uzbekistan is one of the world's main grape producing countries. Uzbekistan also accounts for 1.9% of the world's grape exports. In the article, we will examine whether Uzbekistan's fresh and dried grape exports are competitive in the world market. During the study, calculations will be made on the Balassa and Vollrath indices using data from 2017-2023. The International Trade Center database will be used during the calculation.
Article
Business, Economics and Management
Economics

Matolwandile Mzuvukile Mtotywa,

Nandipha Mdletshe

Abstract: In this paper, we conduct a post-COVID-19 analysis of the role of fiscal support interventions on COVID-19 health regulations and socio-economic dimensions. We employed a quantitative research method where 302 responses were obtained from different households in the Eastern Cape, Gauteng, Kwa-Zulu Natal, and Limpopo Provinces in South Africa. The results reveal that the relief fund (R350 unemployment grant, unemployment insurance fund claim, and food parcel distribution, among others) mediated the relationship between COVID-19 health regulations and poverty levels and the relationship between COVID-19 health regulations and health and well-being. The relief fund also mediated the relationship between COVID-19 health regulations and employment levels. Support package from the R500 billion government support, which included loan guarantees, job support, tax and payment deferrals and holidays, social grants, wage guarantees, health interventions, and municipalities support, moderates the relationship between COVID-19 health regulations and the family and social support. These results validate the impact of the fiscal support intervention by the government in mitigating its emergency intervention with COVID-19 health regulations. This strengthens the theory of intervention, highlighting that there are multiple dynamics that make it complex. Despite this, the study highlights the importance of comprehensive intervention for future preparedness, thus advancing the crisis-intervention perspective. Advances in these areas are critical to mitigate the impact of the next pandemic or similar major events in society.
Article
Business, Economics and Management
Economics

Hema Thakur

Abstract: Short-term research matters today because: 1) pre-pandemic data may obscure new paradigms; 2) new studies should build on rather than duplicate long-term work; and 3) timely policy is crucial. However, short-term studies involve limited data. We examine inflation’s impact on income groups to explore methodological combinations and sequencing for short-term research. First, we assess the effectiveness of quantitative (multiple and quantile regression) and qualitative (thematic analysis of reports) approaches. We evaluate how sequencing methods influences insights, avoiding researcher bias towards preferred sequences by prompting a large language model (LLM) multiple times to interpret the combined results in each sequence: quant→qual and qual→quant. We then compare outputs. Next, we conduct small-scale, open- and closed-ended surveys and repeat the LLM sequencing experiment, this time with closed→open-ended and open→closed-ended instructions. Quantitative models link income to debt and unemployment; qualitative findings show varied views on inflation control and consumer behavior across groups. Surveys show inflation shapes coping and policy trust—especially for middle-income earners, whose unique struggles are lost when grouped with low-income peers by analyses. The quant→qual and closed→open-ended sequences provided more insightful outputs with causal connections and contextualization. Theoretically, this paper provides methodological guidelines; practically, it provides policy insights.
Article
Business, Economics and Management
Economics

Veysel Avsar,

Oguzhan Batmaz

Abstract: This paper investigates the extent to which political risk affects exporter-financed trade transactions. Using industry-level trade finance data from Turkey, we show that export transactions executed under open account terms decreases with the political risk in the export markets. Further, we also document that the effect of political risk on trade finance is disproportionately higher for the industries that export complex products.
Article
Business, Economics and Management
Economics

Roger D. Norton,

Ximing Wu,

Jason Vogel

Abstract: This research analyzes with statistical evidence and complete economic specifications the effects of the U. S. Department of Agriculture’s (USDA’s) monetization of a U. S. commodity to support its Food for Progress projects. Since the beginning of the monetization program, its possible effects on agricultural producers in the receiving countries has been a concern. In this case, the country is Peru and the commodity is crude degummed soybean oil (CDSO). Effects were measured statistically on domestic prices and production in Peru, including effects on substitute commodities. The first stage of the research involved the identification of data needed and subsequent data collection, and model formulation. A 25-year time series was used for the statistical analysis. A sequence of progressively more complete models was used to capture the impact of monetization based on available price information on the monetized commodity and related products in domestic production and consumption. Our model specifications are based on the time series nature of our data and the classical demand and supply models in economic analysis. To account for potential lagged impacts, we employ a distributed lags specification in our time series analysis. The statistical analysis here modifies in important ways the approach of Appendix II of the GAO’s 2017 report on monetization [11]. Differences include: 1) Incorporating quantities and prices of substitutes into price equations in addition to testing the role of time trends in explaining prices. Attempting to explaining price movements only with time trends, as the GAO report did, does not have support in economic theory, and statistically time trends did not prove to have a significant explanatory effect when the other variables were included. 2) Analyzing a wider set of commodities potentially affected by the monetization program. The existence of substitution effects in both production and consumption calls for analysis of monetization effects on a number of locally produced commodities.
Article
Business, Economics and Management
Economics

Olukorede Adewole

Abstract: Economic interests, penchant, and goals or pursuits drive and stir the motivation and impetus or motives for and the reason behind most business activities and ventures, which is in line with classical economic theory and capitalism; however, this revolves around one of the 3-4 pillars outlined and identified as “economic, legal, ethical, and discretionary or philanthropic” by ‘Carroll in this article and from previous works or articles. It is essential and crucial to note the line and clear distinction or border drawn between competing and complementary frameworks as exemplified in the present article by Carroll and different motives for different organizations in pursuing ‘CSR: Corporate Social Responsibility. The central objective of this presentation and research activity is to examine the decision-making and choice architecture from the influences of nudge on the economic decisions and aspects of ‘Corporate Social Responsibility pursued by managers stressing on the ‘RBV: Resource-Based View and point to the potentials and use of ‘Corporate Social Responsibility as a strategic tool by corporations from a stakeholder’s perspective, paying attention to crucial decision-makings and the need for striking a balance from the competing interests perspective, even though an economic aspect of ‘Corporate Social Responsibility is pursued and prioritized while gaining a competitive advantage or leveraging from the ‘RBV point of view.
Article
Business, Economics and Management
Economics

Chen Wu,

Yang Cao,

Hao Xu

Abstract: Population aging is a critical demographic trend in China, presenting both challenges and opportunities for advancing sustainable development in alignment with the UN’s SDGs, particularly SDG 8, Decent Work and Economic Growth, SDG 9,Industry, Innovation, and Infrastructure,SDG 10,Reduced Inequalities. This study investigates the impact of population aging on labor productivity, with a focus on the mediating role of the capital-labor ratio and heterogeneities across industries, skill levels, and regions. Using data from Chinese listed firms between 2011 and 2018,this paper used fixed effects models and mediation models for econometric regressions to explore the relationship between population aging and labor productivity. The analysis reveals that population aging significantly enhances labor productivity. The capital-labor ratio emerges as a critical mechanism, mediating the relationship between aging and productivity by incentivizing firms to increase capital intensity in response to labor shortages. The findings highlight notable heterogeneities. Labor-intensive firms and low-skilled worker segments experience stronger productivity gains from aging compared to their capital-intensive and high-skilled counterparts. At the regional level, the productivity effects are most pronounced in first- and second-tier cities, while third-tier cities show negligible impacts, reflecting resource and structural constraints. This study underscores the dual role of population aging as a challenge and an opportunity. Policy recommendations include promoting capital investment, automation, workforce upskilling, and regional development to sustain productivity growth amidst demographic transitions. These findings offer valuable insights for policymakers and businesses navigating the complexities of aging economies.
Article
Business, Economics and Management
Economics

Roxana Voicu-Dorobantu

Abstract: The study posits the need for a conceptual multi-risk management approach for fresh produce, an essential product category for societal resilience, and one constantly affected by climate change, policy volatility, and geopolitical disruptions. The research starts from a literature-informed risk typological mapping, leading to Gephi visualizations of networks related to this trade. Network analysis using 2024 bilateral trade data reveals a core-periphery topology, with the United States, Spain, and the Netherlands as central hubs. A gravity-based simulation model is, lastly, used to address the question: what structural vulnerabilities and flow-based sensitivities define the global fresh produce trade, and how do they respond to simulated multi-risk disruptions? The model uses the case of USA as a global trade hub and induces two compounding risks: a protectionist tariff policy shock and a climate-related shock in its main supplier. The conclusion is that the fragility in the fresh produce trade enhances the cascading effects that any risk event may have across environmental, economic, and social sustainability dimensions. The paper emphasizes the need for anticipatory governance, diversification of trade partners, and investment in cold chain resilience, offering an image for policymakers to acknowledge the risk and mitigate this increasingly fragile fresh produce trade.
Article
Business, Economics and Management
Economics

JiaZheng Yu,

Abdul Majeed,

Yiran Liu

Abstract: Achieving sustainable energy futures is a cornerstone of global efforts to combat environmental degradation and align with corporate social responsibility (CSR) objectives. This study examines the complex relationship between energy consumption, carbon emissions, and the moderating influence of Foreign Direct Investment (FDI) in the E-7 economies—Brazil, China, India, Indonesia, Mexico, Russia, and Turkey—from 2000 to 2022. Employing advanced panel data methodologies, including continuously updated fully modified (Cup-FM) and continuously updated bias-corrected (Cup-BC) techniques, we explore the long-term dynamics of energy use, urbanization, human capital, and FDI. Our findings reveal persistent cointegration among these variables, with energy consumption, urbanization, and human capital significantly contributing to CO₂ emissions. However, FDI emerged as a critical mitigating factor, exhibiting a negative correlation with carbon emissions and moderating the emission-enhancing effects of urbanization and human capital. These results underscore the dual role of FDI as both an engine of economic growth and a catalyst for environmental sustainability. This study advocates prioritizing green FDI inflows, particularly in renewable energy infrastructure, to harmonize economic development with global sustainability targets. By integrating CSR strategies with energy transition policies, this study provides actionable insights for policymakers and corporate leaders to foster sustainable development in rapidly industrializing economies. The findings contribute to the broader discourse on sustainable development, emphasizing the need for strategic investments and policy frameworks to achieve a low-carbon future.
Article
Business, Economics and Management
Economics

Edward Horesh

Abstract: This study evaluates the impact of Malawi's Hunger Safety Net Programme (HSNP) on food insecurity among graduated beneficiaries. Despite HSNP interventions, 83.2% of respondents experienced severe food insecurity post-graduation. Regression analyses showed that cash transfer amount and support duration significantly reduced specific food insecurity indicators related to meal frequency and dietary diversity. However, HSNP-provided training showed no significant effect on food insecurity outcomes. The adequacy of cash transfers emerged as critical, with 80% of respondents considering transfers insufficient. Multiple regression analysis confirmed that perceived adequacy of funds was significantly associated with lower food insecurity levels. Livelihood diversification, particularly business activities, strongly correlated with reduced food insecurity and increased income. The findings indicate that while HSNP provides essential support, improvements in transfer adequacy, training relevance, and promotion of sustainable livelihood diversification are needed to effectively address long-term food insecurity in Malawi and achieve meaningful graduation from social assistance programs.
Article
Business, Economics and Management
Economics

Yu Xi,

Yang Hanshuo,

Shi Yao

Abstract: Amidst escalating global environmental challenges, ecological development has become crucial for sustaining human well-being and planetary health. China, with its ambitious ecological civilization agenda, is at the forefront of this transition. This paper calculated the Gross Ecosystem Product (GEP) for China from 2005 to 2020 and employed the Dagum Gini coefficient to analyze regional ecological disparities.Results show that GEP grew steadily from 47.17 trillion yuan in 2005 to 74.40 trillion yuan in 2020, but this growth lagged behind GDP expansion. Regulation Services, though dominant, exhibited the slowest growth, hindering full realization of ecological product values. Regional disparities were prominent, with the western region having higher GEP but lower per unit area value, indicating inefficiencies in value realization. Eastern regions excelled in material and Cultural Services but had lower regulating service values. These findings underscore the need for balanced ecological development policies that enhance ecosystem regulation, reduce regional inequalities, and optimize ecological product value realization for sustainable growth.
Review
Business, Economics and Management
Economics

Lawal Abdulwahab Olamilekan,

Hafiz Bubari Umar

Abstract: Economic inequality remains a significant barrier to healthcare accessibility in the Economic Community of West African States (ECOWAS), where inadequate government health spending and inequality hinder healthcare access across the region. This study empirically investigates the relationship between economic inequality, economic growth, and healthcare access, utilizing a panel dataset from 2001–2024 for 15 ECOWAS nations. The study used two advanced econometrics techniques (Heteroskedasticity Panel-Corrected Standard Errors (HPCSE) and Feasible Generalized Least Squares (FGLS)). The study reveals that higher income inequality negatively affects healthcare access, as measured by physician availability per 1,000 people. Additionally, population density exerts pressure on healthcare resources, necessitating infrastructure expansion. The interaction between government health expenditure and inequality reveals that strategic public investment can reduce healthcare disparities. Therefore, the study recommends financial policies that enhance healthcare expenditure strategies and public-private partnerships to improve healthcare accessibility. This study contributes to policy discussions by providing evidence-based recommendations for achieving universal healthcare in ECOWAS.
Review
Business, Economics and Management
Economics

Nassim Dehouche

Abstract: This review paper examines the emerging field of Post-Labor Economics, which analyzes economic structures and possibilities in a future where technological progress, particularly artificial intelligence, substantially reduces or eliminates the need for human labor. Unlike traditional labor economics, which focuses on employment transformation, Post-Labor Economics begins with the premise that human labor will largely disappear rather than merely shift between sectors. It concludes by assessing these interconnected dimensions to establish a basis for further exploration of a potentially transformative economic shift for humanity, while recognizing varied perspectives on the inevitability and desirability of post-labor futures.
Article
Business, Economics and Management
Economics

Bożena Nosecka,

Łukasz Zaremba

Abstract: The primary purpose of the paper was to evaluate the international competitiveness of Polish fruits and their processed products in comparison to major global exporters. A comparative analysis allows for identifying key competitive advantages and weaknesses. Quantitative data analysis was employed to measure international competitiveness using key indicators such as Market Share (MS), Trade Balance, Competitiveness Ratio (CR), Import Penetration (IP), Intra-Industry Trade (IIT), and Terms of Trade (ToT). These metrics were calculated based on data obtained from Comtrade, with results presented in a time-series format to capture long-term trends. An extensive literature review was conducted to examine various definitions and frameworks of international competitiveness. The study revisits conventional competitiveness indicators to address their limitations in reflecting contemporary global market dynamics. The reinterpretation acknowledges the challenges posed by increased capital mobility and evolving trade patterns, thereby enhancing the accuracy of competitiveness assessments. The study takes into account the need to reinterpret commonly used indicators in the literature due to their decreasing relevance in the context of global market dynamics, characterized by increasing trade and capital flows. The decline in the level of indicators that include imports in their formulas (IP and CR) may lead to an increase in the level of indicators that take exports into account (foreign trade balance, share in global exports). For example, a strong increase in the import of concentrated apple juice results in an increase in the export of this product and an improvement in the competitive position on the global market.
Article
Business, Economics and Management
Economics

Muhammad Sukri Bin Ramli

Abstract: This research employs quantitative techniques interpreted through relevant economic theories to analyze a proposed U.S. "Discounted Reciprocal Tariff" structure. Statistical modeling (linear regression) quantifies the policy's consistent 'discounted reciprocity' pattern, which is interpreted using a Game Theory perspective on strategic interaction. Machine learning (K-Means clustering) identifies distinct country typologies based on tariff exposure and Economic Complexity Index (ECI), linking the policy to Economic Complexity theory. The study's primary application focuses on the major coffee exporting sector, utilizing simulation modeling grounded in principles of demand elasticity and substitution to project potential trade flow impacts. Specifically, for coffee, this simulation demonstrates how the proposed tariff differentials can induce significant substitution effects, projecting a potential shift in U.S. import demand away from high-tariff origins toward lower-tariff competitors. This disruption, stemming from the tariffs impacting exporting countries, is projected to ultimately increase coffee prices for consumers in the United States. Findings throughout are contextualized within Political Economy considerations. Overall, the study demonstrates how integrating regression, clustering, and simulation with economic theory—exemplified through the coffee sector analysis—provides a robust framework for assessing the potential systemic impacts, including consumer price effects, of strategic trade policies.
Article
Business, Economics and Management
Economics

Benziane Roucham,

Oussama Zaghoud

Abstract: Green hydrogen has emerged as a critical pillar of sustainable energy transitions, with its potential as a carbon-free fuel to decarbonize hard-to-electrify sectors while bolstering energy security. This study examines the trajectory of green hydrogen and renewable energy research within extended BRICS nations (the five core BRICS plus recent entrants) using bibliometric analysis, aiming to map publication trends, thematic focus, and collaborative networks from 2005 to 2024. A comprehensive dataset of 292 publications (2005–2024) was retrieved from Scopus. These records were analyzed to evaluate research output growth, citation impact, leading journals, and international co-authorship patterns. The results reveal a rapidly growing body of literature with accelerating output in recent years and substantial citation impact (with an average of approximately 25 citations per article). China leads in both publication volume and influence, followed by India and Russia, attesting to robust national research initiatives. Approximately one-quarter of the studies involve international co-authorship, underlining active collaboration among these countries and beyond. These bibliometric insights offer valuable guidance for policymakers and industry stakeholders by highlighting core strengths (e.g., hydrogen production technologies) and pinpointing gaps where capacity-building is needed. This evidence-based understanding can inform strategic policy-making, foster technological innovation, and shape future research directions within these emerging economies. In conclusion, by mapping the green hydrogen research landscape of key emerging economies, this study provides a crucial foundation for accelerating green hydrogen innovation and reinforces the role of extended BRICS in the global clean energy transition.

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