scholarly journals Zakat as an Alternative Method of Economic Growth : The Muslim Community of West Bengal

2021 ◽  
Vol 23 (08) ◽  
pp. 186-194
Author(s):  
Dr. Md. Rabiul Mallick ◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
West Bengal ◽  
Social Progress ◽  
Major Obstacle ◽  
Muslim Community ◽  
Self Reliance ◽  
Level Of Economic Development ◽  
Islamic Economic ◽  
Financial Measure

Poverty is a curse in today’s society. Most of the Muslim community in West Bengal is plagued by this curse. Poverty is a major obstacle to the education and social progress of the Muslim community in the district. The purpose of this article is to determine the need for Zakat as a financial measure to assess economic growth. Review the framework of Islamic economic concepts to propose alternative models aimed at serving nations. This article considers Zakat to be one of the most accurate methods of measuring economic growth, which means that when people pay Zakat, the level of economic development will be higher and vice versa. In other words, besides redistributing wealth among Muslims, there is a promise to pay Zakat to Muslims in order to reduce the gap between rich and poor in society and achieve self-reliance. This article mainly discusses the issue of self-reliance of the backward Muslim community through the grant of Zakat to assess economic growth.

Growth and Social Capital: Empirical Analysis of the Relationship

2019 ◽  
pp. 128-134
Author(s):  
Ksenia V. Bagmet
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
Economic Development ◽  
Social Development ◽  
Empirical Analysis ◽  
Panel Data Analysis ◽  
Well Being ◽  
Developed Countries ◽  
International Institute ◽  
Level Of Economic Development

The article provides an empirical test of the hypothesis of the influence of the level of economic development of the country on the level of development of its social capital based on panel data analysis. In this study, the Indices of Social Development elaborated by the International Institute of Social Studies under World Bank support are used as an indicators of social capital development as they best meet the requirements for complexity (include six integrated indicators of Civic Activism, Clubs and Associations, Intergroup Cohesion, Interpersonal Safety and Trust, Gender Equality, Inclusion of Minorities), comprehensiveness of measurement, sustainability. In order to provide an empirical analysis, we built a panel that includes data for 20 countries divided into four groups according to the level of economic development. The first G7 countries (France, Germany, Italy, United Kingdom); the second group is the economically developed countries, EU members and Turkey, the third group is the new EU member states (Estonia, Latvia, Lithuania, Romania); to the fourth group – post-Soviet republics (Armenia, Georgia, Russian Federation, Ukraine). The analysis shows that the parameters of economic development of countries cannot be completely excluded from the determinants of social capital. Indicators show that the slowdown in economic growth leads to greater cohesion among people in communities, social control over the efficiency of distribution and use of funds, and enforcement of property rights. The level of tolerance to racial diversity and the likelihood of negative externalities will depend on the change in the rate of economic growth. Also, increasing the well-being of people will have a positive impact on the level of citizens’ personal safety, reducing the level of crime, increasing trust. Key words: social capital, economic growth, determinant, indice of social development.

The Role of Entrepreneurial Performance in Supporting Economic Development of Countries: An Empirical Approach

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Valentina Diana Rusu ◽  
Angela Roman
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Progress ◽  
Entrepreneurial Performance ◽  
Panel Data Estimation ◽  
Positive Effects ◽  
National Competitiveness ◽  
Key Factor ◽  
Future Economic Development

Abstract Entrepreneurship is recognized as one of the factors stimulating economic growth and increasing economic competitiveness. In addition, the Europe 2020 Strategy has focused its attention on entrepreneurship as a key factor of economic growth, social progress, and employment. In this context, our study examines the role of entrepreneurial performance for sustaining the development of countries, focusing on a sample of European countries. We attempt to reveal if increasing entrepreneurial performance would have significant influence on improving the economic position of countries and their future economic development. Starting from the OECD-Eurostat Entrepreneurship Indicators Programme we use a set of entrepreneurial performance indicators as independent variables and examine to what extent they can influence competitiveness and economic growth, seen as dependent variables of the models. We focus on a period of 10 years (2008–2017) and we apply panel-data estimation techniques. Because the period considered includes the period of the last international financial crisis, we also include in our analysis a dummy variable. Our results emphasize that the changes in entrepreneurial performance play a significant role in enhancing national competitiveness and economic growth. Our findings contribute to the expansion of literature in the field by providing evidence on the correlation of indicators that measure entrepreneurial performance with national competitiveness and economic growth. Moreover, our findings point out the need of the policy makers to adopt measures and policies that help and stimulate entrepreneurs to become more performant because they can generate positive effects to the economy as a whole.

Efficiency Driven Effect of Education in China: The Perspective of Global Competitiveness and Graduate Education

2021 ◽  
Vol 1 (1) ◽  
pp. 36-43
Author(s):  
Jia Liu ◽  
Lun Li
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Economic Development ◽  
Practical Significance ◽  
Education Policies ◽  
Global Competitiveness ◽  
Higher Education Policies ◽  
Level Of Economic Development ◽  
Education In China

Capital, natural resources, technology and education are often considered to be the most important factors in improving the level of economic development. China is in the "efficiency-driven" stage of economic development. There are objective laws in the development of education level and economic growth, but they interact with each other. Economic growth provides the foundation and necessary conditions for the development of education. At the same time, the role of education in promoting economic growth is also very obvious. Based on the perspective of postgraduate training, this paper studies the role of education in economic efficiency-driven, through the study of theory, data collection and empirical analysis, combined with the development characteristics of China's higher education, and compares China's and US higher education policies to guide China's higher education. The development of education, and then promote the transformation of China into the "innovation-driven" stage, has certain theoretical and practical significance.

Unpleasant Truths about Institutional and Financial Development

2019 ◽  
pp. 44-74
Author(s):  
Justin Yifu Lin ◽  
Célestin Monga
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Financial Institutions ◽  
Institutional Development ◽  
Failed State ◽  
Poor Countries ◽  
Level Of Economic Development ◽  
State Interventions ◽  
Economic Development Strategies ◽  
Theoretical Issues

This chapter refutes the linear and almost teleological approach in vogue in development economics on political and financial institutions. It briefly discusses the theoretical issues at hand and suggests that policies take into account the requirements of both time and place, which emphasizes the importance of the development level. The chapter acknowledges that institutional development problems are indeed major impediments to economic growth. But contrary to conventional wisdom, it argues that they are often correlated with the level of economic development. Seen from that perspective, the well-known weaknesses in the governance and financial sectors of many poor countries today often reflect their low level of development and the results of failed state interventions and distortions originating from erroneous economic development strategies.

Analyzing the Bidirectional Relationship between Tourism Growth and Economic Development

2020 ◽  
pp. 004728752092231 ◽  
Author(s):  
Juan Ignacio Pulido-Fernández ◽  
Pablo Juan Cárdenas-García
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Structural Equations ◽  
Tourist Destinations ◽  
Development Face ◽  
Confirmatory Factor ◽  
Bidirectional Relationship ◽  
Level Of Economic Development ◽  
Structural Equations Model ◽  
The Relationship

After having demonstrated the relationship between tourism and economic growth, tourism-led economic growth (TLGH), and economic-driven tourism growth (EDTG), the scientific literature was concerned with studying the relationship between tourism and economic development, limiting itself to analyzing a possible unidirectional relationship between tourism, economic growth, and economic development. In this context, the aim of this article is to determine if the relationship between tourism and economic development is bidirectional given that, although tourism can be a tool for economic development, it is also true that a higher level of economic development influences tourism growth. Using a sample of 143 countries, and applying confirmatory factor analysis together with a structural equations model, the bidirectional relationship is confirmed. Therefore, although tourism growth and economic development face different challenges, if public policies work in a coordinated manner, they may contribute significantly to improving economic development in countries that are configured as tourist destinations.

scholarly journals Do Carbon Emissions and Economic Growth Decouple in China? An Empirical Analysis Based on Provincial Panel Data

Energies ◽  
2019 ◽  
Vol 12 (12) ◽  
pp. 2411 ◽  
Author(s):  
Yu Hao ◽  
Zirui Huang ◽  
Haitao Wu
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Panel Data ◽  
Carbon Emissions ◽  
Environmental Kuznets Curve ◽  
Kuznets Curve ◽  
Ekc Hypothesis ◽  
Capita Gross Domestic Product ◽  
Level Of Economic Development ◽  
The Relationship

Global warming has emerged as a serious threat to humans and sustainable development. China is under increasing pressure to curb its carbon emissions as the world’s largest emitter of carbon dioxide. By combining the Tapio decoupling model and the environmental Kuznets curve (EKC) framework, this paper explores the relationship between China’s carbon emissions and economic growth. Based on panel data of 29 provinces from 2007 to 2016, this paper quantitatively estimates the nexus of carbon emissions and economic development for the whole nation and the decoupling status of individual provinces. There is empirical evidence for the conventional EKC hypothesis, showing that the relationship between carbon emissions and per capita gross domestic product (GDP) is an inverted U shape and that the inflection point will not be attained soon. Moreover, following the estimation results of the Tapio decoupling model, there were significant differences between individual provinces in decoupling status. As a result, differentiated and targeted environmental regulations and policies regarding energy consumption and carbon emissions should be reasonably formulated for different provinces and regions based on the corresponding level of economic development and decoupling status.

scholarly journals FISCAL DECENTRALIZATION AND ECONOMIC GROWTH IN SELECTED EUROPEAN COUNTRIES

2017 ◽  
Vol 18 (4) ◽  
pp. 745-757 ◽  
Author(s):  
Neringa SLAVINSKAITĖ
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Fiscal Decentralization ◽  
Developed Countries ◽  
Panel Model ◽  
Development Level ◽  
Multiple Regression Method ◽  
Level Of Economic Development ◽  
High Level ◽  
The Empirical Analysis

The paper analyses the fiscal decentralization effects on economic growth in unitary countries of European Union for the period 2005–2014. The empirical analysis was based on the multiple regression method. The fixed effect panel model was used as framework for the analysis. In order to examine the different impact of fiscal decentralization, the same analysis was applied to subsets of countries categorized into two groups according to countries’ level of economic development. This further analysis found that there is positive relationship between fiscal decentralization and economic growth in low level of economically developing countries and no relationship in high level of economically developed countries. These results suggested that fiscal decentralization is not always instrument for promotion of economic growth, which means that country’s economic development level is an important factor when introducing reform of fiscal decentralization. The originality of this article – new fiscal decentralization index and evaluated fiscal decentralization level influence for countries economic growth.

scholarly journals Peculiarities of the dynamics of the enterprises of the Republic of Moldova by size classes

2021 ◽  
pp. 71-79
Author(s):  
Alina Stratila ◽  
◽  
Rina Turcan ◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Labor Productivity ◽  
Point Of View ◽  
Enterprise Development ◽  
Economic Activities ◽  
Republic Of Moldova ◽  
Level Of Economic Development ◽  
The Republic ◽  
Micro Enterprises

This article examines the patterns of enterprise development that underlie the evolution of the Moldovan economy over the period 2010-2019 (10 years). The issues of personnel involvement in the economy and labor productivity, profit and profitability of enterprises from the point of view of their classification by dimension class: large, medium, small and micro-enterprises are considered. Attempts was made for identify the regularity between the economic growth of the country and the size of the enterprise carrying out financial and economic activities. The conclusions obtained in the framework of this study allow us to conclude the level of economic development and the prospects for its further growth, including through government intervention to support a particular category of enterprises.

scholarly journals ISLAMIC ECONOMIC MODEL IN REDUCING GAP OF GROWTH AND UNEMPLOYEMENT

2018 ◽  
Vol 15 (2) ◽  
pp. 100-120
Author(s):  
Sumar’in Sumar’in ◽  
Iwan Kusnadi
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Data Analysis ◽  
Negative Influence ◽  
Technical Documentation ◽  
Human Welfare ◽  
The People ◽  
Ex Post ◽  
Ex Post Facto ◽  
Islamic Economic

The theme of the article is based on economic principles of Islam. The purpose of research is to see economic development in the perspective of the Islamic economy especially research aims to analyze the effect of economic growth and unemployment in Indonesia period 1998-2017, a perspective of the Islamic economy. Economic development is one of the strategies to achieve the goals aspired nation. The goal is how poverty, unemployment, economic disparity and social resolved so as to realize human welfare. But in fact, the construction of which is expected to have an influence on society has not caused yet siding with the people. Increased poverty and unemployment occur. This type of research is an ex post facto. Technical documentation was applied for searching the data from Statistics Central Board, Indonesia Bank, BAPPENAS in Indonesia. Data analysis technique was Regression. Data analysis shows that: there is a negative influence toward economic growth in the rate of Indonesia and unemployment in 1998-2018. Economic development in Islamic economy perspective focus to three elements such as forbidden interest (ribā) as instrument financial, optimization zakat and characteristics of an element of spiritual, moral, and material, and activities tend to be multidimensional so that all business submitted to balance a variety of factors and does not cause inequality.

scholarly journals Human Capital and the Level of Economic Development

2018 ◽  
Vol 14 (2) ◽  
pp. 31
Author(s):  
Rewat Thamma-Apiroam
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Economic Development ◽  
Developed Countries ◽  
Causality Test ◽  
Capital Growth ◽  
Level Of Economic Development ◽  
The Government ◽  
The Relationship ◽  
Developing And Developed Countries

This study aims at testing the causal relationship between human capital via the government spending share on education and economic growth using cross-country evidence and investigating the relationship pattern between such human capital – growth and the level of economic development based on 30 country data. The study employs a standard approach through uniting root test and Granger causality test. The data is annually collected during the periods 1983 – 2012, totaling to 30 observations. The finding indicates that for both developing and developed countries, education human capital cannot explain much the economic growth and vice versa. In addition, from the relationship pattern between human capital – growth and the economic development level neutrality is the most commonly found pattern for both developing and developed countries. However, we see somewhat difference between them in terms of causation running from growth to human capital. That is, the number of developed countries is almost double as compared to the developing ones. This gives rise to a policy implication for developed countries in that it should put more emphasis on the government education spending share to GDP since it can help boost human capital in the long run.

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