Search Results (78)

The aim of this study was the economic comparison of two equivalent sheep farms with different reproductive management systems. Financial data were selected from a farm that applied artificial insemination (AI) and from one that applied natural mating (NM). The main objective of the analysis was to estimate the cost of each farm’s products and then to calculate their economic indicators. The AI farm had higher production costs, as a result of higher labor and fixed capital costs. On the other hand, the invested capital for the equipment and buildings of the NM farm was lower. Furthermore, the invested livestock capital based on the genetic value of the animals was higher in the AI farm. The AI farm produced milk, replacement ewe lambs and replacement ram lambs as its primary products, whereas the NM farm produced only milk as its primary product. The production costs for milk were 0.08 EUR/kg lower in the AI farm compared with the NM farm. The AI farm had a higher gross revenue and net and gross profit, resulting from the higher genetic value of the AI farm’s livestock. As indicated, the breeding and sale of genetically improved animals can increase the financial results of a farm and offer alternative sources of income. In conclusion, AI results in more sustainable and economically efficient sheep farming. In this regard, training for farmers and governmental economic support could promote AI application. Finally, the fortification of farmer group initiatives that facilitate the trade of dairy sheep products can accelerate AI utilization in dairy sheep farms in Greece. Full article

This study investigates how borrowing influences household consumption patterns in low-income and formerly impoverished regions of China, with implications for sustainable development goals (SDGs) such as poverty reduction (SDG 1), inclusive economic growth (SDG 8), and reducing inequalities (SDG 10). Using four rounds of 7516 households of balanced panel data from the China Family Panel Studies (CFPS), a fixed-effects model was employed to analyze the impact of borrowing on total and categorized household consumption. Instrumental variable and treatment-effects models were applied to address endogeneity issues. Results reveal that a 1% increase in borrowing boosts total household consumption by 0.026%, with stronger effects on developmental and investment-oriented consumption, particularly among low-income households. Formerly impoverished areas experienced greater consumption growth, especially in education and training, indicating higher domestic demand potential and faster human capital accumulation. The study concludes that improving financial markets, aligning credit with specific needs, and leveraging local resources are essential for upgrading consumption structures and alleviating relative poverty. Full article

Mainstream strategies for protecting wealth from inflation involve diversification into traditional assets like common stocks, gold, fixed-income securities, and real estate. However, a significant contributor to inflation has been the rising energy prices, which have been the main underlying cause of several past recessions and high inflation periods. Investments in distributed generation with solar photovoltaics (PV) present a promising opportunity to hedge against inflation, considering non-taxed profits from PV energy generation. To investigate that potential, this study quantifies the return on investment (ROI), internal rate of return (IRR), payback period, net present cost, and levelized cost of energy of PV by running Solar Alone Multi-Objective Advisor (SAMA) simulations on grid-connected PV systems across different regions with varying inflation scenarios. The case studies are San Diego, California; Boston, Massachusetts; Santiago, Chile; and Buenos Aires, Argentina. Historical inflation data are also imposed on San Diego to assess PV system potential in dynamic inflammatory conditions, while Boston and Santiago additionally analyze hybrid PV-battery systems to understand battery impacts under increasing inflation rates. Net metering credits vary by location. The results showed that PV could be used as an effective inflation hedge in any region where PV started economically and provided increasingly attractive returns as inflation increased, particularly when taxes were considered. The varying values of the ROI and IRR underscore the importance of region-specific financial planning and the need to consider inflation when evaluating the long-term viability of PV systems. Finally, more capital-intensive PV systems with battery storage can become profitable in an inflationary economy. Full article

Investments are the development core of every economic operator and the driving force for national economic development. While finding the optimal investment point is extremely difficult, every operator may seek to attain a level of fixed assets which allows them to maintain an increase in production and keep their income flowing. The difficulties in finding this optimum may lead to overinvestment. Hence, this paper estimates the parameters of the production function at various investment levels. Its purpose is to identify the relationship between the investment levels, the use of productive inputs, and growth or decline in production (output) levels. This study used microdata for 3273 Polish farms, as retrieved from the FADN (Farm Accountancy Data Network). The differences found at various farm investment levels allow for highlighting some problematic areas, e.g., in the context of excessive capital use relative to yearly increments in production values. The proposed method of analyzing overinvestment based on the production function can be extended to other countries. According to this paper, farms that invested too little or too much in relation to their production potential showed the worst economic performances, including the greatest declines in production. Full article

Education is considered an investment in human capital that is gained at the cost of knowledge acquisition. This cost is borne by the beneficiary along with subsidy provided by the government, if any, that is mainly collected through tax revenues. This article aims to systematically review the utility derived and the burden experienced with educational debt borrowers across the globe as per the three types of educational loan schemes present across the globe. This study follows the PRISMA guidelines for review selection, and 47 articles published between 1994 and 2024 were included for the final review. The study results reveal that education improves the quality of life; an educational debt servicing to income ratio above 8% is considered as a financial burden. Also, the results reveal that material benefits are high after education along with an increase in the psychological burden because of repayment concerns. This study highlights the need to move towards designing a flexible repayment system in the education loan scheme based on the income contingent schemes adopted in many countries. Income contingent schemes reduce the repayment burden of the borrowers but the return to the lender is limited to the income of the borrower, and mortgage-based schemes are associated with high repayment burden. Therefore, a dynamic scheme will fix the problems associated with the repayment burden by creating a dynamic link between the benefits received and the contributions made by the borrower. Full article

Farmer’s incentive is a core issue in achieving sustainable agricultural development. In many developing countries, smallholder farming is predominant in agricultural production, potentially limiting improvements in agricultural sustainability. Promoting agricultural cooperatives is a widely adopted strategy to help resource-poor farmers obtain higher agricultural revenue. In China, these organizations have expanded rapidly since the early 21st century, reaching 2.22 million by September 2023 and providing services to nearly half of farming households. However, their effectiveness and impact on enhancing agricultural revenue remain subjects of ongoing debate. To provide more empirical evidence on this topic, this paper constructs an agricultural cooperatives database based on the national commercial registration enterprise dataset and matches it with the National Fixed Point Rural Survey (NFP). The findings reveal that the development of agricultural cooperatives in China significantly helps farmers enhance their production revenue, leading to an increase in household income. Furthermore, the paper identifies strong heterogeneity in the positive effects of cooperative development at both the village and household levels. In the mechanism analysis, it is shown that agricultural cooperatives in China facilitate increased investment in capital, intermediate inputs, and technology, optimizing the allocation of production factors in agricultural processes, thereby improving land productivity and ultimately increasing agricultural revenue. Full article

Every economy’s prosperity is determined by the quantity of tax income it receives. Over the years, studies have demonstrated that inflows from foreign investments and openness to international trade are important contributors to a country’s tax income. Based on this assumption, this study seeks to examine the impact of foreign direct investment (FDI) and open trade on tax income in a number of sub-Saharan African nations. The World Bank Development Indicators data on tax revenue, FDI, exports, imports, and exchange rates from 1990 to 2022 are used in the study. We also use the pooled mean group/panel autoregressive distributed lag approach to examine the data gathered for this inquiry. The results reveal that, in the long term, FDI has a significant negative impact on tax income; nevertheless, in the short run, Ghana’s tax revenue collection suffers while other nations profit from FDI. The results reveal that Nigeria’s exporting is detrimental to tax revenue collection, but South Africa’s export of goods and services is beneficial. However, imports and currency rates benefit Nigeria, Ghana, and South Africa in the near term. Thus, the research suggests improving tax rules and administration to prevent the movement of resources by foreign investors out of the host countries in order to avoid the imposition of huge tax burdens on their firms. Countries with low exports, such as Nigeria, are urged to enhance local manufacturing to meet international export standards in order to alleviate the continual negative balance of payments, which is primarily fixed by the adequate export of products and services. Full article

This study examines the problem of choosing optimal consumption, investment, early retirement, and effort levels for an economic agent who is unwilling to reduce their consumption over time. The agent’s income depends on a fixed wage rate, and varies proportionally with their level of effort, which incurs disutility due to labor. By applying the dual-martingale method, we reformulate the problem into its dual form, dividing it into two distinct sub-problems: one focuses on selecting a consumption path that does not decrease, while the other determines the optimal timing for early retirement. Using this method, we find optimal strategies in the form of explicit closed-form solutions. Full article

The independent innovation of agricultural enterprises ensures national food security through enhancing food production efficiency and optimizing food nutritional quality. Independent innovation is an important way for the sustainable growth of agricultural enterprises. However, in this process, there are issues such as long cycles and high risks. Based on this, using the panel data of China’s listed agricultural enterprises from 2007 to 2021, this study empirically examined the impact of independent innovation on the sustainable growth of agricultural enterprises, as well as the moderating effects of internal drivers (digital transformation) and external pull factors (government subsidies) through a two-way fixed effects model. The findings are the following: (1) The impact of independent innovation on the sustainable growth of agricultural enterprises exhibits an “inverted U-pattern”. When the R&D investment of agricultural enterprises accounts for 77.85% of operating income, the sustainable growth ability of agricultural enterprises is the highest. (2) Compared with large agricultural enterprises, small and medium-sized agricultural enterprises reach the threshold of independent innovation ability later, and the incentive effect range of independent innovation is longer. (3) Independent innovation exerts a more significant “inverted U” effect on the sustainable growth of non-state-owned agricultural enterprises and agricultural enterprises in the mature stage, while its impact on the sustainable growth of state-owned agricultural enterprises and agricultural enterprises in the growth and decline stages is not significant. (4) Government subsidies can help enhance the positive impact of independent innovation on the sustainable growth of agricultural enterprises when it does not exceed the threshold but cannot alleviate the negative impact of independent innovation on the sustainable growth of agricultural enterprises when it exceeds the threshold; investment in digital transformation not only helps to enhance the positive impact of independent innovation on the sustainable growth of agricultural enterprises when it does not exceed the threshold but also helps to alleviate the negative impact of independent innovation on the sustainable growth of agricultural enterprises when it exceeds the threshold. The research results provide data support for agricultural enterprises to carry out innovation activities under internal drive and external pull. At the same time, it is of great significance for the national implementation of the strategy of storing food in technology and food security strategy. Full article

For a bank-based economy like Vietnam, the commercial banking sector’s conduct greatly influences Vietnamese economic and social prosperity. In Vietnam, net income from credit activities hold the largest portion of the total revenue of Vietnamese commercial banks. Therefore, in the context of Vietnam, credit risk obviously also plays a pivotal important role in the banking sector. Hence, the risk of credit failure can lead to a bank’s collapse and have a profound effect on a country’s societal structure. As seen in the previous literature, there are many macroeconomic and bank-level factors that have commonly affected the level of credit risk; however, these factors may change in the recent development era of the banking industry, especially the new impacts of digital transformation and the transition to full Basel III adoption. The overall aim of this study is to analyze the impacts of digital transformation and Basel III implementation on the credit risk level of Vietnamese commercial banks during the period from 2017 to 2023, with a sample of 21 Vietnamese listed commercial banks. This study employs the pooled OLS, fixed effect model (FEM), and random effect model (REM) methods to reach the finding that investing in technology for the readiness of digital transformation and implementing Basel III could adversely affect credit risk. Based on this finding, the authors give some recommendations for commercial banks to enhance the sustainability, safety, and better management of credit risk. Full article

This study explores the intricate relationships among farmers’ non-agricultural income, agricultural technological progress, and sustainable food supply security using China’s provincial panel data from 2003 to 2021. Employing multidimensional fixed effects, moderated effects, and threshold regression models, the analysis yields several key findings. First, an inverted “U” shaped relationship exists between farmers’ non-agricultural income and sustainable food supply security, where food security is initially promoted but subsequently suppressed as income increases. Agricultural technological progress significantly enhances sustainable food supply security, and mechanism analysis confirms a moderating effect of technological progress on the relationship between non-agricultural income and food security. Second, regional heterogeneity analysis shows that the inverted “U” shaped inflection point for farmers’ non-agricultural income occurs earliest in the western region and main food-producing areas, with the strongest impact observed in the eastern region and main non-food-producing areas. Agricultural technological progress more significantly promotes sustainable development in the central and western regions and main food-producing areas. Third, threshold testing reveals a non-linear double threshold effect of agricultural technological progress on sustainable food supply security, with non-agricultural income thresholds at 6.759 and 9.427. Beyond these thresholds, the promotion effect of technological progress exhibits a “flat-steep-flat” S-shaped fluctuation. These findings suggest a need for a balanced approach to managing farmers’ non-agricultural income growth, maintaining incentives for sustainable food production and increasing financial and technological investments in central and western regions to secure China’s long-term food supply security. Full article

The development of digital finance represents a new paradigm for the delivery of financial services that has exerted an external shock on the off-balance sheet (OBS) activities of traditional commercial banks. In response, commercial banks have embarked on a digital transformation to mitigate the challenges posed by digital finance. However, the impact of external shocks and internal responses on banks’ OBS activities, especially the effect of internal responses, needs to be further clarified in order to inform commercial banks’ decision-making. Using a dataset consisting of 42 Chinese commercial banks’ operating data from 2013 to 2022, this paper employs a two-way fixed effects model and a moderation analysis to conduct an empirical analysis. The results show that digital finance has a significant inhibitory effect on OBS activities; furthermore, digital transformation of commercial banks strengthens this inhibitory effect, indicating that its benefits are outweighed by costs of investment and competitive losses. Additionally, the net interest margin significantly amplifies the inhibitory effect, suggesting a trade-off between income from core business activities and OBS activities under external competitive pressure. Based on these research findings, it is recommended that commercial banks seek differentiated competitive strategies and optimize the product structure of their OBS activities. Furthermore, digital transformation strategies should take into account the overall interests of the bank and strike a balance between long-term and short-term benefits. Full article

The relationship between human development and environmental quality has been explored in this study by examining the human-development status and carbon (CO₂)-emissions levels of 60 countries from the low, lower-middle, and upper-middle income categories. The roles of renewable energy and some economic and institutional factors such as GDP, the rule of law, regulatory quality, and corruption control have also been investigated to ascertain their impacts on the relationship. The empirical investigations apply the generalized method of moments (GMM), fixed effects (FE), and random effects (RE) methods, and the long-run associations among the variables are investigated by applying the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) techniques. The robust findings support the trade-off relationship between human development and environmental quality in the selected low-income and developing countries. With evidence of an environmental Kuznets’s relationship between economic growth and environmental quality, these findings reveal that the measures pursued to improve human-development status have a contributory impact on CO₂ emissions in the selected countries. However, an increased demand for renewable energy, effective enforcement of the rule of law, and improved control over corruption have a mitigating effect on CO₂ emissions. The result has also highlighted the policy issues instrumental to increased emissions levels in these countries. Consequently, it is recommended to formulate policies for resolving disparities within the various dimensions of human development while also making deliberate investments in the socio-economic aspects of human development to ensure both sustainable human development and environmental quality. Full article

The impact of rural-urban student mobility on the efficiency of resource allocation in China’s rural households is crucial for refining policies related to rural migrant settlement and the balanced allocation of urban and rural educational resources. Drawing on theoretical insights, this study employs a mixed methods approach—primarily qualitative, with quantitative support—to empirically test the impact of rural-urban student mobility on the resource allocation efficiency of rural households in China. Utilizing micro-survey data from China Family Panel Studies (CFPS), this study applies ordinary least squares (OLS) models, propensity score matching difference-in-differences (PSM-DID) models, and endogenous switching regression (ESR) models to ascertain the direction of this impact. Furthermore, this study incorporates in-depth interview data gathered from field research in D County to explore the dynamic mechanisms of resource allocation adjustments within these households. The results show that rural-urban student mobility significantly reduces the efficiency of labor resource allocation and agricultural production in China’s rural households. The impact is heterogeneous across different groups, most negatively affecting households with limited labor resources, lower educational levels, lower incomes, more productive fixed assets, and less self-owned land. Mobility leads to suboptimal occupational choices, resulting in decreased labor resource efficiency. Additionally, it distorts agricultural production by leading to labor loss, reduced investments in agricultural productivity, and misaligned land allocation decisions. Full article

The purpose of this study was to evaluate the impact of financial development and renewable energy consumption in Vietnam and some selected countries in Southeast Asia. After researching over the period from 1970 to 2022, using quantitative analyses, including the ordinary least squares (OLS), fixed effects method (FEM), and random effects method (REM), and measuring the Driscoll–Kraay standard errors to assess cross-dependence between countries as well as a Dynamic Ordinary Least Squares (DOLS) estimation analysis to evaluate the robustness of the research, the research results confirm that financial development has a negative impact on renewable energy consumption, which reflects the important role of fossil energy sources in meeting energy consumption demand. Similarly, increased per capita income negatively affects renewable energy consumption. This study also confirms the positive impact of foreign direct investment on renewable energy use. Full article