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Economies

Economies is an international, peer-reviewed, open access journal on development economics and macroeconomics, published monthly online by MDPI.

Open Access— free for readers, with article processing charges (APC) paid by authors or their institutions.
High Visibility: indexed within Scopus, ESCI (Web of Science), EconLit, EconBiz, RePEc, and other databases.
Journal Rank: JCR - Q2 (Economics) / CiteScore - Q1 (Economics, Econometrics and Finance (miscellaneous))
Rapid Publication: manuscripts are peer-reviewed and a first decision is provided to authors approximately 22 days after submission; acceptance to publication is undertaken in 5.7 days (median values for papers published in this journal in the first half of 2025).
Recognition of Reviewers: reviewers who provide timely, thorough peer-review reports receive vouchers entitling them to a discount on the APC of their next publication in any MDPI journal, in appreciation of the work done.

Impact Factor: 2.1 (2024); 5-Year Impact Factor: 2.3 (2024)

Imprint Information Journal Flyer Open Access ISSN: 2227-7099

Latest Articles

40 pages, 4433 KB

Open AccessArticle

Economic Convergence Analyses in Perspective: A Bibliometric Mapping and Its Strategic Implications (1982–2025)

by Geisel García-Vidal, Néstor Alberto Loredo-Carballo, Reyner Pérez-Campdesuñer and Gelmar García-Vidal

Economies 2025, 13(10), 289; https://doi.org/10.3390/economies13100289 (registering DOI) - 4 Oct 2025

This study presents a bibliometric and thematic analysis of economic convergence analysis from 1982 to 2025, based on a corpus of 2924 Scopus-indexed articles. Using VOSviewer and the bibliometrix R package, this research maps the field’s intellectual structure, identifying five main thematic clusters: [...] Read more.

This study presents a bibliometric and thematic analysis of economic convergence analysis from 1982 to 2025, based on a corpus of 2924 Scopus-indexed articles. Using VOSviewer and the bibliometrix R package, this research maps the field’s intellectual structure, identifying five main thematic clusters: (1) formal statistical models, (2) institutional-contextual approaches, (3) theoretical–statistical foundations, (4) nonlinear historical dynamics, and (5) normative and policy assessments. These reflect a shift from descriptive to explanatory and prescriptive frameworks, with growing integration of sustainability, spatial analysis, and institutional factors. The most productive journals include Journal of Econometrics (121 articles), Applied Economics (117), and Journal of Cleaner Production (81), while seminal contributions by Quah, Im et al., and Levin et al. anchor the co-citation network. International collaboration is significant, with 25.99% of publications involving cross-country co-authorship, particularly in European and North American networks. The field has grown at a compound annual rate of 14.4%, accelerating after 2000 and peaking in 2022–2024, indicating sustained academic interest. These findings highlight the maturation of convergence analysis as a multidisciplinary domain. Practically, this study underscores the value of composite indicators and spatial econometric models for monitoring regional, environmental, and technological convergence—offering policymakers tools for inclusive growth, climate resilience, and innovation strategies. Moreover, the emergence of clusters around sustainability and digital transformation reveals fertile ground for future research at the intersection of transitions in energy, digital, and institutional domains and sustainable development (a broader sense of structural change). Full article

(This article belongs to the Special Issue Regional Economic Development: Policies, Strategies and Prospects)

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29 pages, 435 KB

Open AccessArticle

Public Debt, Oil Rent, and Financial Development in MENA Countries: A Fractional Response Model Approach (FRM)

by Mashael Fahad Alkhurayji and Hamed Mohammed Alhoshan

Economies 2025, 13(10), 288; https://doi.org/10.3390/economies13100288 - 2 Oct 2025

The rapid accumulation of public debt raises global concern over its implications for financial markets. This study examines the effect of domestic public debt on financial development in Middle East and North Africa (MENA) countries, a region marked by sharp heterogeneity in institutions, [...] Read more.

The rapid accumulation of public debt raises global concern over its implications for financial markets. This study examines the effect of domestic public debt on financial development in Middle East and North Africa (MENA) countries, a region marked by sharp heterogeneity in institutions, debt dynamics, and oil dependence, using annual panel data for 16 countries over the period (2000–2020). Our analysis employs a fractional response model (FRM), which accounts for the bounded nature of the dependent variable, corrects for heteroskedasticity, and incorporates country fixed effects. The findings reveal a significant negative effect of domestic public debt on financial development, consistent with the lazy banks and crowding-out hypotheses. This adverse relationship persists across different income groups and debt percentiles, with modest attenuation at higher debt levels. Oil rents are also found to exert a robust negative effect, highlighting the structural vulnerabilities associated with oil dependence. These results emphasize the importance of debt management, fiscal frameworks that account for commodity cycles, and policies to reduce the sovereign–bank nexus in fostering sustainable financial development in the region. Full article

(This article belongs to the Section Macroeconomics, Monetary Economics, and Financial Markets)

28 pages, 3339 KB

Open AccessArticle

Uncorking Rural Potential: Wine Tourism and Local Development in Nemea, Greece

by Angelos Liontakis and Elona Bogdani

Economies 2025, 13(10), 287; https://doi.org/10.3390/economies13100287 - 1 Oct 2025

This study investigates the economic role of wine tourism in Nemea, Greece, a prominent Protected Designation of Origin (PDO) wine-producing region. Employing a mixed-methods approach, the research combines interviews with local stakeholders and a structured post-wine-tasting visitor survey to assess wine tourism’s contribution [...] Read more.

This study investigates the economic role of wine tourism in Nemea, Greece, a prominent Protected Designation of Origin (PDO) wine-producing region. Employing a mixed-methods approach, the research combines interviews with local stakeholders and a structured post-wine-tasting visitor survey to assess wine tourism’s contribution to local development. A two-step multivariate analysis, incorporating Multiple Correspondence Analysis and Hierarchical Cluster Analysis, reveals five distinct visitor profiles differing in spending behaviour, familiarity with the destination, and engagement patterns. While high-spending visitors support winery revenues, their limited local integration reduces their broader developmental impact. Conversely, younger and repeat domestic visitors offer more dispersed economic benefits through overnight stays, gastronomy, and cultural participation. In addition, local stakeholders highlight the region’s viticultural identity and growing tourism interest as strengths but also note persistent weaknesses such as inadequate infrastructure, limited coordination, and underdeveloped visitor services. The study concludes that visitor segmentation offers actionable insights for enhancing wine tourism’s developmental role. Targeted strategies tailored to specific visitor types are essential for improving integration with the local economy. These findings contribute to ongoing discussions on how wine tourism can act as a lever for inclusive, sustainable rural development in traditional wine regions. Full article

(This article belongs to the Special Issue Economic Indicators Relating to Rural Development)

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22 pages, 748 KB

Open AccessArticle

What Can We Learn About the Monetary Policy Transmission Mechanism? Evidence from a Peripheral Country After a Political Revolution and COVID-19

by Abdelkader Aguir and Nesrine Dardouri

Economies 2025, 13(10), 286; https://doi.org/10.3390/economies13100286 - 30 Sep 2025

Interest in empirical studies of monetary policy has grown over the past decade, and particularly since the post COVID-19 pandemic period characterized by a surge in inflation rates in every corner of the globe. Against this backdrop, central banks’ traditional inflation forecast framework [...] Read more.

Interest in empirical studies of monetary policy has grown over the past decade, and particularly since the post COVID-19 pandemic period characterized by a surge in inflation rates in every corner of the globe. Against this backdrop, central banks’ traditional inflation forecast framework has been challenged, leading to renewed analysis of the monetary policy transmission mechanism. Focusing on Tunisia, an emerging small open economy subjected to external shocks, this study focuses on the role played by the monetary authority in the conduct of Tunisia’s monetary policy over the period from 2000 to 2024. This period is characterized by a deceleration of growth and an increase in inflation and unemployment. This work shows also how a VAR model with long-run restrictions justified by economic theory can be usefully applied in the analysis of monetary policy; the effects of the money market rate and other shocks; the relationship between prices and the nominal effective exchange rate; and the relationship between inflation and the output gap. Full article

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16 pages, 607 KB

Open AccessArticle

Facilitating Backward Global Value Chain Participation in South Asia: The Role of the South Asian Free Trade Agreement

by Batool Bushra and Hiroyuki Taguchi

Economies 2025, 13(10), 285; https://doi.org/10.3390/economies13100285 - 30 Sep 2025

This study examines the impact of the South Asian Free Trade Agreement (SAFTA) on participation in global value chains (GVCs) among South Asian economies, specifically Bangladesh, India, and Pakistan. This research offers new empirical insights into the relatively underexplored relationship between SAFTA and [...] Read more.

This study examines the impact of the South Asian Free Trade Agreement (SAFTA) on participation in global value chains (GVCs) among South Asian economies, specifically Bangladesh, India, and Pakistan. This research offers new empirical insights into the relatively underexplored relationship between SAFTA and GVCs in the region. The findings indicate that SAFTA has promoted backward GVC participation by increasing the foreign value-added content of exports, particularly from India to Bangladesh and Pakistan, and from Pakistan to Bangladesh. These results suggest untapped potential for expanding regional GVC linkages, as many bilateral GVC connections within South Asia remain underdeveloped. Full article

(This article belongs to the Special Issue The Asian Economy: Constraints and Opportunities)

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23 pages, 321 KB

Open AccessArticle

Public Health Spending in Africa: Cyclicality, Asymmetries, and COVID-19

by Abdalla Sirag and Mohammed Gebrail

Economies 2025, 13(10), 284; https://doi.org/10.3390/economies13100284 - 29 Sep 2025

The COVID-19 pandemic has renewed the global focus on the role of public health spending, particularly in developing regions where fiscal space is mostly limited. Many African countries have started reassessing the health sector as a core economic resilience component. This study examines [...] Read more.

The COVID-19 pandemic has renewed the global focus on the role of public health spending, particularly in developing regions where fiscal space is mostly limited. Many African countries have started reassessing the health sector as a core economic resilience component. This study examines how government health expenditure responds to macroeconomic fluctuations in African countries. Attention was given to asymmetries between positive and negative periods of GDP growth and the impact of COVID-19 on these dynamics. The analysis uses annual data from 45 African economies from 2000 to 2022 and applies a panel NARDL framework to capture nonlinear and dynamic relationships. The sample is further disaggregated into low-income and middle-income groups. The results from the full sample indicate a procyclical pattern of health spending, where expenditure rises during economic expansions, but it discloses an acyclical relationship during recessions. Further analysis reveals that health spending in low-income countries follows a similar procyclical trend, while middle-income countries exhibit a countercyclical response to positive and negative growth shocks. Inflation consistently reduces health spending across the sample. The COVID-19 period has altered the cyclical pattern of health expenditure, at least in the short-run, especially for low-income countries. These findings highlight the need for more resilient and countercyclical fiscal strategies in the health sector, specifically during economic downturns, to ensure sustained investment. Full article

(This article belongs to the Section Macroeconomics, Monetary Economics, and Financial Markets)

20 pages, 933 KB

Open AccessReview

Evolution and Theoretical Implications of the Utility Concept

by Giacomo Di Foggia, Ugo Arrigo and Massimo Beccarello

Economies 2025, 13(10), 283; https://doi.org/10.3390/economies13100283 - 29 Sep 2025

We review the evolution of the concept of utility in economics, addressing the conceptual and terminological fragmentation that characterises the interdisciplinary debate. This study adopts the scoping review framework to systematically analyse the main theoretical approaches, ranging from utility as preference to utility [...] Read more.

We review the evolution of the concept of utility in economics, addressing the conceptual and terminological fragmentation that characterises the interdisciplinary debate. This study adopts the scoping review framework to systematically analyse the main theoretical approaches, ranging from utility as preference to utility as subjective satisfaction and well-being. Particular attention is paid to procedural utility, i.e., the utility derived from the way decisions are made and interactions develop, divided into three areas: individual, linked to autonomy and self-determination; interpersonal, related to the quality of social relations; and institutional, referring to participation and recognition. The analysis is based on three aspects: (i) how different theoretical traditions have interpreted utility and well-being; (ii) what convergences and divergences emerge in the contemporary literature; (iii) and what implications these factors have for research and public policy. We highlight the complementarity between approaches and suggest extending economic reflection to dimensions that are central to the well-being of individuals and societies. The insights of this study have public policy implications, indicating that, through well-defined institutions, distributive justice, and welfare systems, taxpayers’ hedonic utility can be transformed into the chrematistic utility of beneficiaries. Full article

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21 pages, 1986 KB

Open AccessArticle

Benchmarking Jordan’s Trade Role: A Comparative Analysis of Logistics Infrastructure, Geopolitical Position, and Regional Integration

by Ghazi A. Samawi, Omar M. Bwaliez and Metri F. Mdanat

Economies 2025, 13(10), 282; https://doi.org/10.3390/economies13100282 - 28 Sep 2025

This benchmarking study situates Jordan’s trade indicators relative to comparators (Egypt, Lebanon, Saudi Arabia, and the United Arab Emirates) with descriptive analysis. Using indicators for port competitiveness, geopolitical stability, logistics infrastructure, and trade facilitation within a Modified Input–Process–Output framework, based on secondary data [...] Read more.

This benchmarking study situates Jordan’s trade indicators relative to comparators (Egypt, Lebanon, Saudi Arabia, and the United Arab Emirates) with descriptive analysis. Using indicators for port competitiveness, geopolitical stability, logistics infrastructure, and trade facilitation within a Modified Input–Process–Output framework, based on secondary data from conventional international indicators (“Fund for Peace Fragile States Index,” “Institute for Economics & Peace Global Peace Index,” “OECD Trade Facilitation Indicators,” “UN Comtrade Trade Volume Records, 2022–2023,” “UN Conference on Trade and Development Port Performance Scorecard,” and “World Bank Logistics Performance Index”). The outcomes of this analysis demonstrate that Jordan’s strengths in terms of institutional quality and geopolitical stability are countermanded by relatively poor digital technology adoption and governance of ports, and homogeneity in exports. Using M-IPO model and SWOT analysis, it was identified that specific actions are needed to improve Jordan’s trade performance, especially as a hub for regional logistics, including investment and facilitation of digital system adoption, commensurate infrastructure, and flexibility in governance. Full article

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21 pages, 527 KB

Open AccessArticle

Corruption as a Key Driver of Informality: Cross-Country Evidence on Bribery and Institutional Weakness

by Jhon Valdiglesias

Economies 2025, 13(10), 281; https://doi.org/10.3390/economies13100281 - 28 Sep 2025

This study investigated the impact of corruption on the persistence of informality across countries, offering new insights into the institutional dynamics that sustain informal economic activities. Drawing on firm-level data from World Bank Enterprise Surveys covering 159 countries, the analysis employed quantitative methods [...] Read more.

This study investigated the impact of corruption on the persistence of informality across countries, offering new insights into the institutional dynamics that sustain informal economic activities. Drawing on firm-level data from World Bank Enterprise Surveys covering 159 countries, the analysis employed quantitative methods in Stata to assess four indicators of informality against five exogenous variables. These variables captured key institutional constraints, including corruption (with a focus on bribery), bureaucratic inefficiencies, and infrastructure deficits. Results revealed both linear and nonlinear effects of corruption on informality, suggesting that firms embedded in corrupt environments are more likely to remain informal over time. The role of political networks as facilitators of corruption is particularly significant in developing economies, where informal firms benefit from weak enforcement and institutional loopholes. The findings underscore the structural nature of informality and highlight corruption as a critical barrier to sustainable economic development. By exposing how informal payments and institutional weakness interact, this study contributes to global efforts to promote inclusive growth and effective governance under the Sustainable Development Goals (SDGs), particularly SDG 8 and SDG 16. Full article

(This article belongs to the Special Issue The Impact of Corruption on Economic Development)

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22 pages, 834 KB

Open AccessArticle

The Coordination of Monetary–Fiscal Policy in South Africa

by Amanda Mavundla, Malibongwe Cyprian Nyati and Simiso Msomi

Economies 2025, 13(10), 280; https://doi.org/10.3390/economies13100280 - 27 Sep 2025

The importance of policy coordination between fiscal and monetary policy authorities has become more apparent, in the face of unexpected economic shocks and persistent macroeconomic challenges. In this paper, we employ the Set-Theoretic Approach (STA) to explicitly measure the presence of coordination between [...] Read more.

The importance of policy coordination between fiscal and monetary policy authorities has become more apparent, in the face of unexpected economic shocks and persistent macroeconomic challenges. In this paper, we employ the Set-Theoretic Approach (STA) to explicitly measure the presence of coordination between fiscal and monetary policies from 1990 to 2023 in South Africa. In addition, the model measures policy shocks theoretically and structurally using a structural vector autoregressive (SVAR) model. The results indicate a weak level of policy coordination estimated at 24% where shocks are measured theoretically. Where shocks are measured structurally, the results still present weak policy coordination estimated at 33%. These results underscore the need for stronger policy coordination in South Africa, particularly during periods of economic strain such as the Global Financial Crisis and the COVID-19 pandemic, when conflicting fiscal and monetary stances weakened policy effectiveness. In the South African case, limited coordination contributed to procyclical fiscal tightening alongside contractionary monetary policy, which constrained growth and delayed recovery. Full article

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13 pages, 1593 KB

Open AccessArticle

A Note on Keynesian Models Used in Standard Textbooks

by Franz Seitz and Joerg Flemmig

Economies 2025, 13(10), 279; https://doi.org/10.3390/economies13100279 - 25 Sep 2025

This article shows that there is a methodological problem in the traditional IS-LM model. If production cannot be sufficiently adjusted downwards, there is no uniform interest rate that simultaneously clears the money and goods markets. An extension of the credit market in the [...] Read more.

This article shows that there is a methodological problem in the traditional IS-LM model. If production cannot be sufficiently adjusted downwards, there is no uniform interest rate that simultaneously clears the money and goods markets. An extension of the credit market in the tradition of the loanable funds theory resolves this contradiction and yields a coherent mechanism for crisis dynamics and policy transmission. In this expanded model, the interest rate is determined by the credit market whereby the total supply of credit results from household savings and the credit supply of banks and the demand for credit is due to investment demand and the demand for liquidity. This methodological approach facilitates the explanation of crisis dynamics, as involuntary inventory investment generates liquidity problems and disequilibria in the goods market lead to imbalances in the financial markets. Full article

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30 pages, 487 KB

Open AccessArticle

The Relationship Between Financial Development, Energy Consumption, Economic Growth, and Environmental Degradation: A Comparison of G7 and E7 Countries

by Arzu Özmerdivanlı and Yahya Sönmez

Economies 2025, 13(10), 278; https://doi.org/10.3390/economies13100278 - 25 Sep 2025

Both developed and developing countries increased their energy consumption while continuing to advance economically and financially. In parallel with increasing energy use, the intensification of anthropogenic activities has led to higher greenhouse gas emissions, exposing countries to the challenges of climate change and [...] Read more.

Both developed and developing countries increased their energy consumption while continuing to advance economically and financially. In parallel with increasing energy use, the intensification of anthropogenic activities has led to higher greenhouse gas emissions, exposing countries to the challenges of climate change and global warming. The environmental degradation resulting from rapid growth in both developed and emerging economies has drawn the interest of scholars, policymakers, and environmental advocates. This study aims to address the relationships between financial development, economic growth, energy consumption, and environmental degradation in G7 and E7 countries. Within this framework, panel cointegration and causality analyses were conducted using annual data from the period between 2000 and 2021 for the relevant countries. The results of the cointegration analysis indicate that the variables move together in the long run in both groups of countries. Furthermore, the long-term relationship coefficients reveal that economic growth and energy consumption contribute to environmental degradation in both G7 and E7 nations. Moreover, the results show that, unlike in E7 countries, financial development in G7 countries exacerbates environmental degradation, while trade openness mitigates it. Panel causality analysis reveals that in E7 countries, changes in financial development influence CO₂ emissions, and variations in CO₂ emissions, in turn, affect economic growth and trade openness. In G7 countries, the analysis results indicate a bidirectional causal relationship between trade openness and CO₂ emissions across the panel. The panel cointegration and causality analyses yield differing results at the country level. Given these findings, it can be recommended that both G7 and E7 countries transition from fossil fuel sources to clean energy sources in conducting economic activities, promote green economy initiatives, and expand the use of green finance instruments to mitigate environmental degradation. Full article

(This article belongs to the Special Issue Energy Consumption, Financial Development and Economic Growth)

18 pages, 1434 KB

Open AccessArticle

Monetary Liquidity and Food Price Dynamics: Evidence from China’s Mutton Price

by Xiong Zheng, Adrian Daud, Shairil Izwan Taasim and Anita Rosli

Economies 2025, 13(10), 277; https://doi.org/10.3390/economies13100277 - 24 Sep 2025

Mutton prices in China carry significant economic and social implications, yet their macro-financial drivers remain insufficiently understood. Based on monthly data from 2003 to 2025, this paper employs Ensemble Empirical Mode Decomposition, Vector Autoregression, and wavelet coherence analysis to identify the multi-frequency transmission [...] Read more.

Mutton prices in China carry significant economic and social implications, yet their macro-financial drivers remain insufficiently understood. Based on monthly data from 2003 to 2025, this paper employs Ensemble Empirical Mode Decomposition, Vector Autoregression, and wavelet coherence analysis to identify the multi-frequency transmission effects of broad money supply on price dynamics. The results show that broad money supply has limited impact on high-frequency volatility but exerts a strong and persistent influence on medium- and low-frequency trends, particularly after 2010, when stable structural coherence becomes evident. Findings suggest that monetary expansion affects food prices through cost-push channels and expectation adjustments across different time scales. The study highlights the importance of incorporating frequency dimensions into inflation management and food price regulation frameworks to improve the precision and timeliness of policy responses. Full article

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22 pages, 1380 KB

Open AccessArticle

Analyzing the South African Equity Market Volatility and Economic Policy Uncertainty During COVID-19

by Thokozane Ramakau, Daniel Mokatsanyane, Kago Matlhaku and Sune Ferreira-Schenk

Economies 2025, 13(10), 276; https://doi.org/10.3390/economies13100276 - 24 Sep 2025

This study examines the dynamics of equity market volatility and economic policy uncertainty (EPU) in South Africa during the COVID-19 pandemic. Using daily return data for sectoral indices and the JSE All Share Index (ALSI) from 1 January 2020 to 31 March 2022, [...] Read more.

This study examines the dynamics of equity market volatility and economic policy uncertainty (EPU) in South Africa during the COVID-19 pandemic. Using daily return data for sectoral indices and the JSE All Share Index (ALSI) from 1 January 2020 to 31 March 2022, the analysis explores both market-wide and sector-specific volatility responses. Univariate GARCH-family models (GARCH (1,1), E-GARCH, and T-GARCH) are employed to capture volatility clustering, persistence, and asymmetry across sectors. The results show that volatility was highly persistent during the pandemic, with sectoral differences in sensitivity to shocks: Consumer Staples and Financials were particularly reactive to recent news, while Health Care and Basic Materials were more stable. Asymmetric models confirm that market sentiment was predominantly driven by negative news, except in the Energy sector, where positive recovery signals played a stronger role. Correlation analysis further indicates that most sectors were moderately correlated with the ALSI, while Energy and Health Care behaved more independently. In contrast, both the ALSI and sector returns exhibited weak and negative correlations with the South African EPU index, suggesting that uncertainty did not translate directly into equity market declines. Overall, the findings highlight the importance of sectoral heterogeneity in volatility dynamics and suggest that during extreme market events, investors can mitigate downside risk by reallocating portfolios toward more resilient sectors. Full article

(This article belongs to the Section Macroeconomics, Monetary Economics, and Financial Markets)

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29 pages, 624 KB

Open AccessArticle

Inequality of Opportunity in Income and Education: Evidence from Central and Eastern Europe

by Maria Denisa Vasilescu and Larisa Stănilă

Economies 2025, 13(10), 275; https://doi.org/10.3390/economies13100275 - 23 Sep 2025

Inequality of opportunity is a critical issue that significantly impacts the socioeconomic landscape. Understanding the variations in income and educational attainment has become increasingly important, as these disparities are often shaped by social determinants such as individual effort and circumstances, which can affect [...] Read more.

Inequality of opportunity is a critical issue that significantly impacts the socioeconomic landscape. Understanding the variations in income and educational attainment has become increasingly important, as these disparities are often shaped by social determinants such as individual effort and circumstances, which can affect educational outcomes and income potential throughout life. The aim of this paper is to quantify the inequality of opportunity and to examine how circumstances beyond an individual’s control influence income and level of education in the Central and Eastern European countries. We draw on recent data from the fourth wave of the Life in Transition Survey and employ inequality of opportunity indices, Shapley and Oaxaca decompositions, and econometric models to capture the structure and magnitude of the effects. Our findings reveal that inequality of opportunity in income is mainly due to gender and, to a smaller extent, parental education, while educational attainment is mainly influenced by parental education, books at home and the mother’s occupational sector. The results provide a robust foundation for supporting targeted policies in education, employment, and pay equity, and they indicate the need to tailor strategies to the specific contexts of each Central and Eastern European country. Full article

(This article belongs to the Section Labour and Education)

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13 pages, 463 KB

Open AccessArticle

Enhancing Food Security in an Asian Regional Organization: The Case of the Economic Cooperation Organization

by Alexandra Zamfirache and Ileana Tache

Economies 2025, 13(9), 274; https://doi.org/10.3390/economies13090274 - 19 Sep 2025

This study investigates the agri-food sector, food trade, and food availability (as a component of food security) within the Economic Cooperation Organization (ECO), emphasizing the critical importance of agriculture across its member states. This significance is particularly pronounced in less industrialized countries such [...] Read more.

This study investigates the agri-food sector, food trade, and food availability (as a component of food security) within the Economic Cooperation Organization (ECO), emphasizing the critical importance of agriculture across its member states. This significance is particularly pronounced in less industrialized countries such as Tajikistan, Kyrgyzstan, and Afghanistan. The rationale behind this research stems from the observation that food trade and food security issues in the ECO region remain insufficiently addressed in the academic literature. Given the strategic geographical position of ECO countries—at the intersection of Europe, Asia, and the Middle East—these states possess considerable potential to function as vital trade hubs. The present study addresses this research gap by offering conceptual insights and empirical data relevant to the region’s policymakers, traders, and other stakeholders. Methodologically, the research integrates both qualitative and quantitative approaches. On the qualitative side, it includes historical and documentary analysis concerning ECO’s evolution and its agri-food sector’s development. Quantitatively, the study employs a regression model to examine the moderating effect of food imports on the relationship between food exports and food availability across member states. The results indicate a significant interaction effect: food imports moderate the negative association between exports and domestic food availability. Drawing on these findings, the paper formulates a set of policy recommendations to enhance agricultural trade strategies and strengthen food security in ECO countries. Full article

(This article belongs to the Special Issue The Agri-Food Sector and the Development of Local Markets)

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23 pages, 490 KB

Open AccessArticle

Econometric Modelling of the Rural Poverty, Unemployment and the Agricultural Sector Using a Truncated Spline Approach with Longitudinal Data

by Sanusi Fattah, Abd Rahman Razak, Mohammad Amil Yusuf and Adji Achmad Rinaldo Fernandes

Economies 2025, 13(9), 273; https://doi.org/10.3390/economies13090273 - 16 Sep 2025

Rural poverty and unemployment remain persistent challenges in Indonesia, particularly in regions where agricultural development is uneven and land conversion accelerates socio-economic disparities. These conditions are highly relevant because rural areas serve as the backbone of food security, labour supply, and national economic [...] Read more.

Rural poverty and unemployment remain persistent challenges in Indonesia, particularly in regions where agricultural development is uneven and land conversion accelerates socio-economic disparities. These conditions are highly relevant because rural areas serve as the backbone of food security, labour supply, and national economic stability. This study aims to address these issues by developing a flexible analytical framework that simultaneously models three indicators of rural development—rural poverty, rural unemployment, and agricultural sector growth—using a truncated spline nonparametric regression approach with longitudinal data from 2015 to 2023. The methodological approach integrates this regression with panel data across five Indonesian regions, allowing the analysis to capture nonlinear relationships and regional variations that conventional parametric models may overlook. The results indicate that population migration, land use change, and village fund allocation are the dominant drivers of rural development indicators, with nonlinear and region-specific effects. Village funds consistently reduce poverty and unemployment, while excessive land conversion restricts agricultural sector growth. The findings contribute to theory by demonstrating the advantages of flexible nonparametric approaches in modelling rural development dynamics, and to practice by offering empirical evidence for more targeted and adaptive policy interventions to alleviate poverty, reduce unemployment, and strengthen rural resilience. Full article

(This article belongs to the Special Issue Economic Indicators Relating to Rural Development)

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32 pages, 1985 KB

Open AccessArticle

Data Governance as the Digital Backbone of Proactive Obsolescence Management: A Design Science Case Study in Asset-Intensive Industries

by Mircea R. Georgescu and Matthias Schmuck

Economies 2025, 13(9), 272; https://doi.org/10.3390/economies13090272 - 12 Sep 2025

Background: The service life and availability of electronic components are steadily declining, whereas the operational lifespan of industrial devices that incorporate such components often extends over several decades. This disparity creates a mismatch between the durability of individual components and the longevity of [...] Read more.

Background: The service life and availability of electronic components are steadily declining, whereas the operational lifespan of industrial devices that incorporate such components often extends over several decades. This disparity creates a mismatch between the durability of individual components and the longevity of the overall systems in which they are embedded. Obsolescence Management (OM) addresses this issue by establishing a structured and controlled process aimed at anticipating and mitigating the impacts of component and product obsolescence. As defined by the international standard International Electrotechnical Commission [IEC] 62402:2019, obsolescence refers to the transition of an (electronic) item from availability to unavailability by the manufacturer, in accordance with the original specification. To implement proactive OM, obsolescence managers require data that are comprehensible, accurate, complete, trustworthy, secure, and discoverable. In this context, Data Governance (DG) offers a promising approach to enhance data literacy and intelligence within OM. Methods: This study employed a sequential mixed-methods design, integrating qualitative and quantitative approaches including a Systematic Literature Review (SLR), Expert Interviews (EIs), Focus Groups (FGs), Content Analysis (CA), and Workshops (WKSHs), within a case study informed by Design Science Research (DSR). Results: This paper proposes a DG structure tailored to support OM through data integration and business intelligence methods, drawing on established DG reference frameworks within an SME. The proposed structure encompasses a set of processes and knowledge domains recognized as best practices in the field. Furthermore, we present a model designed to facilitate the implementation of DG in OM and to assess the quality of the data required. This enables more reliable obsolescence processes across key functional areas such as product management, procurement, and product development, ultimately supporting data-driven and accurate decision-making. Full article

(This article belongs to the Special Issue Digital Transformation in Europe: Economic and Policy Implications)

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36 pages, 2943 KB

Open AccessArticle

Nexus Between Artificial Intelligence, Renewable Energy, and Economic Development: A Multi-Method Approach

by Laura Vasilescu, Mirela Sichigea, Cătălina Sitnikov and Laurențiu-Stelian Mihai

Economies 2025, 13(9), 271; https://doi.org/10.3390/economies13090271 - 11 Sep 2025

Artificial intelligence (AI) is a key driver of the energy transition and sustainable economic development. However, the specific mechanisms through which AI adoption impacts renewable energy production versus consumption remain poorly understood. This study addresses this research gap by empirically analyzing how three [...] Read more.

Artificial intelligence (AI) is a key driver of the energy transition and sustainable economic development. However, the specific mechanisms through which AI adoption impacts renewable energy production versus consumption remain poorly understood. This study addresses this research gap by empirically analyzing how three AI dimensions (investments, readiness, and projects) differently influenced renewable energy production and consumption across 30 countries (EU-27, USA, China, and UK) during 2020–2023. Additionally, the AI–energy transition nexus is analyzed in relation to economic development (GDP per capita) and carbon emissions (CO₂). Employing robust regression, Gaussian graphical modeling, and cluster analysis, the study provides robust multidimensional validation. Empirical findings reveal that AI investments predominantly stimulate renewable energy production, while AI readiness and institutional ecosystems primarily drive renewable energy consumption. The following two country clusters emerge: advanced economies (USA, China, Germany, UK, and France) characterized by higher AI readiness and superior green-energy integration, and developing economies with significant catch-up potential. The study demonstrates AI’s dual role as both direct determinant and systemic mediator in the energy transition. Moreover, CO₂ emissions show an asymmetric role, being positively correlated with renewable energy production but negatively linked with renewable energy consumption. These insights highlight the need for targeted policies that bridge economic and technological divides, thereby accelerating the renewable energy transition and enriching academic debates on technology-driven sustainability. Full article

(This article belongs to the Special Issue Artificial Intelligence Technologies and Economic Development)

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Open AccessArticle

Railway Accessibility as an Opportunity for Rural Tourism Sustainability in Romania

by Adrian-Nicolae Jipa, Ana-Irina Lequeux-Dincă, Camelia Teodorescu, Aurel Gheorghilaș and Ana-Maria Roangheș-Mureanu

Economies 2025, 13(9), 270; https://doi.org/10.3390/economies13090270 - 11 Sep 2025

The close relationship between tourism and transportation in the context of sustainable mobility development and increased environmental and sustainability policies is widely debated in the scientific literature. The Romanian railway transport system may represent an ignored opportunity that is insufficiently considered and exploited [...] Read more.

The close relationship between tourism and transportation in the context of sustainable mobility development and increased environmental and sustainability policies is widely debated in the scientific literature. The Romanian railway transport system may represent an ignored opportunity that is insufficiently considered and exploited for the growing rural tourism sector. This paper aims to analyze railway accessibility variables through empirical quantitative and cartographic mapping methods based on extensive documentation and statistic metadata, so as to propose a railway competitiveness index for rural tourism resorts in Romania. The main results show obvious discrepancies that are imposed mainly by the existence of a railway station for the resort and the number of trains stopping there during a day, as well as by the type of train and railway facilities that potential travelers to the destination could benefit from. Research findings may be of interest to both railway transport and tourism stakeholders and policymakers in attempts to find more sustainable ways for leisure mobility in Romania. Full article

(This article belongs to the Special Issue Economic Indicators Relating to Rural Development)

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