Research in Globalization最新文献_第3页

Financial globalization, technological innovation, and human development in Asean-6 countries: evidence from a panel VAR approach 金融全球化、技术创新与东盟六国的人类发展：来自面板VAR方法的证据

Q1 Economics, Econometrics and Finance

Research in Globalization

Pub Date : 2025-09-29 DOI: 10.1016/j.resglo.2025.100318

My-Linh Thi Nguyen

This research aims to investigate the central role of financial globalization in promoting human development across the six ASEAN economies. This role is assessed both through its direct influence on human development as well as its indirect one mediated by technological innovation. For the estimation, the study employs the panel vector autoregressive (panel VAR) framework. The findings indicate that financial globalization plays a key role in fostering human development in the ASEAN economies. Indeed, financial globalization not only exerts a direct positive effect on human development but may also generate indirect ones through technological innovation. The findings distinguish the present study from existing research. They provide deeper insights into the central role of financial globalization in human development, which is manifested both through its direct effects and its indirect ones channeled through technological innovation. It offers valuable empirical evidence that can serve as a reference for future in-depth investigations on this issue, particularly for those seeking to clarify the pivotal role of financial globalization in a global context. The findings practically constitute a solid foundation for the ASEAN-6 nations to formulate appropriate policies aimed at fostering human development, grounded in the understanding that financial globalization may exert a direct impact on human development as well as an indirect one through technological innovation.

本研究旨在探讨金融全球化在促进东盟六个经济体人类发展中的核心作用。这一作用是通过其对人类发展的直接影响以及以技术创新为媒介的间接影响来评估的。对于估计，本研究采用面板向量自回归（panel vector autoregressive， VAR）框架。研究结果表明，金融全球化在促进东盟经济体人类发展方面发挥着关键作用。事实上，金融全球化不仅对人类发展产生直接的积极影响，而且还可能通过技术创新产生间接的积极影响。这些发现将本研究与现有研究区分开来。它们为金融全球化在人类发展中的核心作用提供了更深入的见解，这种作用既体现在其直接影响上，也体现在其通过技术创新带来的间接影响上。它提供了宝贵的经验证据，可以作为未来深入研究这一问题的参考，特别是对于那些寻求澄清金融全球化在全球背景下的关键作用的人。这些发现实际上为东盟六国制定旨在促进人类发展的适当政策奠定了坚实的基础，其基础是认识到金融全球化可能对人类发展产生直接影响，也可能通过技术创新产生间接影响。

{"title":"Financial globalization, technological innovation, and human development in Asean-6 countries: evidence from a panel VAR approach","authors":"My-Linh Thi Nguyen","doi":"10.1016/j.resglo.2025.100318","DOIUrl":"10.1016/j.resglo.2025.100318","url":null,"abstract":"<div><div>This research aims to investigate the central role of financial globalization in promoting human development across the six ASEAN economies. This role is assessed both through its direct influence on human development as well as its indirect one mediated by technological innovation. For the estimation, the study employs the panel vector autoregressive (panel VAR) framework. The findings indicate that financial globalization plays a key role in fostering human development in the ASEAN economies. Indeed, financial globalization not only exerts a direct positive effect on human development but may also generate indirect ones through technological innovation. The findings distinguish the present study from existing research. They provide deeper insights into the central role of financial globalization in human development, which is manifested both through its direct effects and its indirect ones channeled through technological innovation. It offers valuable empirical evidence that can serve as a reference for future in-depth investigations on this issue, particularly for those seeking to clarify the pivotal role of financial globalization in a global context. The findings practically constitute a solid foundation for the ASEAN-6 nations to formulate appropriate policies aimed at fostering human development, grounded in the understanding that financial globalization may exert a direct impact on human development as well as an indirect one through technological innovation.</div></div>","PeriodicalId":34321,"journal":{"name":"Research in Globalization","volume":"11 ","pages":"Article 100318"},"PeriodicalIF":0.0,"publicationDate":"2025-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145264728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Asymmetric analysis of the financial inclusion – growth nexus: A NARDL approach 普惠金融与增长关系的不对称分析：一个NARDL方法

Q1 Economics, Econometrics and Finance

Research in Globalization

Pub Date : 2025-09-24 DOI: 10.1016/j.resglo.2025.100316

Mohammed Jatoro Arebo

Financial inclusion (FI) is widely recognized as a catalyst for sustainable development in the era of globalization, yet its effects may not be uniform. This paper examines the asymmetric impact of FI on Ethiopia’s economic growth over the period 1991–2023. A composite FI index was developed using a two-stage Principal Component Analysis (PCA) that integrates six traditional and four digital financial indicators. The Nonlinear Autoregressive Distributed Lag (NARDL) model is employed to capture short- and long-run asymmetries, while the Toda-Yamamoto causality test examines directional linkages. Empirical results reveal that positive FI shocks significantly enhance long-term economic growth, whereas negative shocks reduce it, though only positive shocks significantly spur economic growth in the short run. The findings underscore a domino-effect of FI, where FI expansion generates sustained growth momentum than the adverse impact of FI contraction. Moreover, trade openness, monetary expansion, and population growth are found to exert adverse effects on growth, while the real exchange rate contributes positively in the short run. Causality results confirm both supply-leading and demand-following hypotheses, suggesting a feedback loop between FI and growth. As FI emerges as a key driver of growth, policy implications stress the need to strengthen domestic financial regulation, promote digital financial services, invest in infrastructure and expand financial literacy. For Ethiopia and similar economies, embedding FI within broader development strategies while addressing the negative asymmetric effects of FI is essential to ensure inclusive and resilient growth.

普惠金融（FI）被广泛认为是全球化时代可持续发展的催化剂，但其影响可能并不均匀。本文考察了1991-2023年期间FI对埃塞俄比亚经济增长的不对称影响。使用两阶段主成分分析（PCA）开发了一个综合FI指数，该指数集成了六个传统财务指标和四个数字财务指标。非线性自回归分布滞后（NARDL）模型用于捕获短期和长期不对称性，而Toda-Yamamoto因果关系检验用于检测方向联系。实证结果表明，正金融冲击显著促进了长期经济增长，而负金融冲击则降低了长期经济增长，尽管只有正金融冲击在短期内显著刺激了经济增长。研究结果强调了金融服务的多米诺骨牌效应，即金融服务扩张产生持续增长势头，而金融服务收缩产生不利影响。此外，贸易开放、货币扩张和人口增长对经济增长有不利影响，而实际汇率在短期内对经济增长有积极作用。因果关系的结果证实了供给主导和需求遵循的假设，表明FI和增长之间存在反馈循环。随着金融机构成为增长的关键驱动力，政策影响强调需要加强国内金融监管，促进数字金融服务，投资基础设施和扩大金融知识普及。对于埃塞俄比亚和类似的经济体来说，将金融投资纳入更广泛的发展战略，同时解决金融投资的负面不对称影响，对于确保包容性和弹性增长至关重要。

{"title":"Asymmetric analysis of the financial inclusion – growth nexus: A NARDL approach","authors":"Mohammed Jatoro Arebo","doi":"10.1016/j.resglo.2025.100316","DOIUrl":"10.1016/j.resglo.2025.100316","url":null,"abstract":"<div><div>Financial inclusion (FI) is widely recognized as a catalyst for sustainable development in the era of globalization, yet its effects may not be uniform. This paper examines the asymmetric impact of FI on Ethiopia’s economic growth over the period 1991–2023. A composite FI index was developed using a two-stage Principal Component Analysis (PCA) that integrates six traditional and four digital financial indicators. The Nonlinear Autoregressive Distributed Lag (NARDL) model is employed to capture short- and long-run asymmetries, while the Toda-Yamamoto causality test examines directional linkages. Empirical results reveal that positive FI shocks significantly enhance long-term economic growth, whereas negative shocks reduce it, though only positive shocks significantly spur economic growth in the short run. The findings underscore a domino-effect of FI, where FI expansion generates sustained growth momentum than the adverse impact of FI contraction. Moreover, trade openness, monetary expansion, and population growth are found to exert adverse effects on growth, while the real exchange rate contributes positively in the short run. Causality results confirm both supply-leading and demand-following hypotheses, suggesting a feedback loop between FI and growth. As FI emerges as a key driver of growth, policy implications stress the need to strengthen domestic financial regulation, promote digital financial services, invest in infrastructure and expand financial literacy. For Ethiopia and similar economies, embedding FI within broader development strategies while addressing the negative asymmetric effects of FI is essential to ensure inclusive and resilient growth.</div></div>","PeriodicalId":34321,"journal":{"name":"Research in Globalization","volume":"11 ","pages":"Article 100316"},"PeriodicalIF":0.0,"publicationDate":"2025-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145264732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Green finance and business sophistication on environmental debt: a global analysis of net effects and policy thresholds 环境债务的绿色金融和商业复杂性：净效应和政策阈值的全球分析

Q1 Economics, Econometrics and Finance

Research in Globalization

Pub Date : 2025-09-17 DOI: 10.1016/j.resglo.2025.100315

Eunice Taveng , Anthony Adu Asare Idun , Patrick Darkwa , Pius Gamette

There is limited empirical research on how business sophistication influences the effect of green finance in addressing environmental sustainability challenges across countries. This study adopts the resource-based view and institutional theory to examine how business sophistication shapes the relationship between green finance and environmental debt in developed and developing economies. Using panel data from 43 countries spanning 2014–2021, we employ two-step System GMM estimation to assess the conditional impact of green finance on a composite index of environmental debt (CO₂ emissions, water stress and deforestation). The results show that while green finance alone is associated with higher environmental pressures, its effectiveness improves significantly when moderated by business sophistication, with threshold values of 4.08 for carbon emissions, 3.85 for water stress, and 3.98 for deforestation. These findings are robust across model specifications, supporting the validity of the results and highlighting the critical role of business sophistication in augmenting green finance flows into tangible environmental improvements. As the first cross-country study to establish the moderating role of business sophistication, this research contributes new theoretical and empirical insights. The study concludes that green finance policies must be aligned with business sophistication levels to avoid counterproductive outcomes. Policymakers are advised to invest in strengthening innovation systems, knowledge absorption and corporate governance before scaling up green finance interventions.

关于商业成熟度如何影响绿色金融在各国应对环境可持续性挑战方面的效果的实证研究有限。本研究采用资源基础观点和制度理论来考察发达经济体和发展中经济体的商业复杂性如何影响绿色金融与环境债务之间的关系。利用2014-2021年间43个国家的面板数据，我们采用两步系统GMM估计来评估绿色金融对环境债务（二氧化碳排放、水资源压力和森林砍伐）综合指数的条件影响。结果表明，虽然绿色金融本身与更高的环境压力相关，但在商业成熟度的调节下，其有效性显著提高，碳排放的阈值为4.08，水资源压力的阈值为3.85，森林砍伐的阈值为3.98。这些发现在所有模型规范中都是稳健的，支持了结果的有效性，并突出了商业成熟度在增加绿色金融流入有形环境改善方面的关键作用。作为第一个建立商业成熟度调节作用的跨国研究，本研究提供了新的理论和实证见解。该研究的结论是，绿色金融政策必须与商业复杂程度保持一致，以避免适得其反的结果。建议决策者在扩大绿色金融干预之前，先投资于加强创新体系、知识吸收和公司治理。

{"title":"Green finance and business sophistication on environmental debt: a global analysis of net effects and policy thresholds","authors":"Eunice Taveng , Anthony Adu Asare Idun , Patrick Darkwa , Pius Gamette","doi":"10.1016/j.resglo.2025.100315","DOIUrl":"10.1016/j.resglo.2025.100315","url":null,"abstract":"<div><div>There is limited empirical research on how business sophistication influences the effect of green finance in addressing environmental sustainability challenges across countries. This study adopts the resource-based view and institutional theory to examine how business sophistication shapes the relationship between green finance and environmental debt in developed and developing economies. Using panel data from 43 countries spanning 2014–2021, we employ two-step System GMM estimation to assess the conditional impact of green finance on a composite index of environmental debt (CO<sub>2</sub> emissions, water stress and deforestation). The results show that while green finance alone is associated with higher environmental pressures, its effectiveness improves significantly when moderated by business sophistication, with threshold values of 4.08 for carbon emissions, 3.85 for water stress, and 3.98 for deforestation. These findings are robust across model specifications, supporting the validity of the results and highlighting the critical role of business sophistication in augmenting green finance flows into tangible environmental improvements. As the first cross-country study to establish the moderating role of business sophistication, this research contributes new theoretical and empirical insights. The study concludes that green finance policies must be aligned with business sophistication levels to avoid counterproductive outcomes. Policymakers are advised to invest in strengthening innovation systems, knowledge absorption and corporate governance before scaling up green finance interventions.</div></div>","PeriodicalId":34321,"journal":{"name":"Research in Globalization","volume":"11 ","pages":"Article 100315"},"PeriodicalIF":0.0,"publicationDate":"2025-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145104382","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How ‘dirty’ is the Federal Reserve? Examining spillovers of US monetary policy on global carbon emissions within a Bayesian global VAR model 美联储有多“肮脏”？在贝叶斯全球VAR模型中考察美国货币政策对全球碳排放的溢出效应

Q1 Economics, Econometrics and Finance

Research in Globalization

Pub Date : 2025-09-12 DOI: 10.1016/j.resglo.2025.100313

Laura Novienyo Abla Amoah , Rasaq Raimi , Andrew Phiri

Whilst there is general consensus that US monetary policy decisions spillover into financial and economic sectors of the global economy, less is known about the effects of such policies on climate change. Our study fills this gap in the literature by examining the impact of US monetary policy on the carbon emissions of the top 30 carbon emitting countries using a Bayesian global vector autoregressive (B-GVAR) model applied to time series collected between 1990 and 2022. Our analysis is conducted from two perspectives. Firstly, using sign restrictions, we compare the effects of expansionary and contractionary US monetary policy. We find that expansionary policy significantly raises emissions, while contractionary policy reduces them. We further find that the impact is strongest in large, globally integrated G20 economies, while emerging and developing economies respond less, reflecting weaker financial linkages. Secondly, using the shadow short rate (SSR), we distinguish between conventional and unconventional monetary policy (UMP). Whilst both types of policies influence emissions in their expected directions, UMP results in stronger spillovers to countries that lack domestic experience with such tools, while countries that have themselves implemented UMP exhibit smaller responses. These findings are robust across alternative shadow short rate specifications. Overall, our study confirms that US monetary policies play a role in influencing climate change through their effects on carbon emissions. We therefore urge the Federal Reserve to re-consider its stance of ‘not being a climate policymaker’ and begin incorporating ‘greening monetary policy’ instruments into its monetary policy toolkit.

虽然人们普遍认为，美国的货币政策决定会溢出到全球经济的金融和经济部门，但人们对这些政策对气候变化的影响知之甚少。我们的研究填补了这一文献空白，通过使用贝叶斯全球向量自回归（B-GVAR）模型研究美国货币政策对前30个碳排放国碳排放的影响，该模型应用于1990年至2022年收集的时间序列。我们的分析是从两个角度进行的。首先，使用符号限制，我们比较了扩张性和紧缩性美国货币政策的效果。我们发现，扩张性政策显著增加了排放，而紧缩性政策则减少了排放。我们进一步发现，全球一体化的大型G20经济体受到的影响最大，而新兴经济体和发展中经济体的反应较弱，反映出金融联系较弱。其次，利用影子短期利率对常规货币政策和非常规货币政策进行区分。虽然这两种政策都按其预期方向影响排放，但非常规货币政策对国内缺乏此类工具经验的国家的溢出效应更强，而自己实施非常规货币政策的国家则表现出较小的反应。这些发现在不同的影子短期利率规范中都是稳健的。总体而言，我们的研究证实，美国货币政策通过对碳排放的影响，在影响气候变化方面发挥了作用。因此，我们敦促美联储重新考虑其“不是气候政策制定者”的立场，并开始将“绿色货币政策”工具纳入其货币政策工具包。

{"title":"How ‘dirty’ is the Federal Reserve? Examining spillovers of US monetary policy on global carbon emissions within a Bayesian global VAR model","authors":"Laura Novienyo Abla Amoah , Rasaq Raimi , Andrew Phiri","doi":"10.1016/j.resglo.2025.100313","DOIUrl":"10.1016/j.resglo.2025.100313","url":null,"abstract":"<div><div>Whilst there is general consensus that US monetary policy decisions spillover into financial and economic sectors of the global economy, less is known about the effects of such policies on climate change. Our study fills this gap in the literature by examining the impact of US monetary policy on the carbon emissions of the top 30 carbon emitting countries using a Bayesian global vector autoregressive (B-GVAR) model applied to time series collected between 1990 and 2022. Our analysis is conducted from two perspectives. Firstly, using sign restrictions, we compare the effects of expansionary and contractionary US monetary policy. We find that expansionary policy significantly raises emissions, while contractionary policy reduces them. We further find that the impact is strongest in large, globally integrated G20 economies, while emerging and developing economies respond less, reflecting weaker financial linkages. Secondly, using the shadow short rate (SSR), we distinguish between conventional and unconventional monetary policy (UMP). Whilst both types of policies influence emissions in their expected directions, UMP results in stronger spillovers to countries that lack domestic experience with such tools, while countries that have themselves implemented UMP exhibit smaller responses. These findings are robust across alternative shadow short rate specifications. Overall, our study confirms that US monetary policies play a role in influencing climate change through their effects on carbon emissions. We therefore urge the Federal Reserve to re-consider its stance of ‘not being a climate policymaker’ and begin incorporating ‘greening monetary policy’ instruments into its monetary policy toolkit.</div></div>","PeriodicalId":34321,"journal":{"name":"Research in Globalization","volume":"11 ","pages":"Article 100313"},"PeriodicalIF":0.0,"publicationDate":"2025-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145264730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Global governance and security challenges: transnational pathways to reducing terrorism mortality in a globalized world 全球治理和安全挑战：在全球化世界中减少恐怖主义死亡的跨国途径

Q1 Economics, Econometrics and Finance

Research in Globalization

Pub Date : 2025-09-11 DOI: 10.1016/j.resglo.2025.100312

Sohidul Islam , Md. Mustaqim Roshid , Reday Chandra Bhowmik , Bablu Kumar Dhar , Mohammed Saiful Islam , Asif Raihan , Fatema Akter

This study investigates the transnational drivers of terrorism mortality through the lens of global governance, focusing on countries most affected by terrorism during the study period (1995–2023), identified dynamically using Global Terrorism Index rankings across multiple years rather than a single static list. Using the Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) model, it analyzes how key governance variables—political stability, regional conflict, human development, militarization, liberal democracy, and political corruption—influence terrorism-related deaths across interconnected regions. The analysis accounts for cross-sectional dependence and heterogeneity, and additionally incorporates country and year fixed effects in robustness checks to mitigate omitted variable bias and capture unobserved heterogeneity across space and time. Findings reveal that governance factors traditionally considered strengths, such as political stability, human development, and democracy, may inadvertently escalate terrorism mortality when poorly aligned with regional security dynamics. Conversely, militarization and corruption exhibit paradoxical effects, while regional conflict presents unexpected negative associations. The study uncovers several counterintuitive governance effects, reinforcing the need for caution in interpreting long-run elasticities and highlighting the importance of future research into potential nonlinearities and omitted variable influences. This study uniquely contributes to the global governance literature by offering a transnational econometric framework to understand terrorism mortality within a sustainable development context. It concludes with policy insights calling for internationally coordinated governance strategies that reinforce institutional resilience and promote SDG 16 objectives through inclusive, development-oriented security reforms.

本研究通过全球治理的视角调查恐怖主义死亡率的跨国驱动因素，重点关注研究期间（1995-2023年）受恐怖主义影响最严重的国家，使用全球恐怖主义指数多年排名而不是单一静态列表动态确定。使用横断面自回归分布滞后（CS-ARDL）模型，它分析了政治稳定、地区冲突、人类发展、军事化、自由民主和政治腐败等关键治理变量如何影响相互关联地区与恐怖主义相关的死亡。该分析考虑了横截面依赖性和异质性，并且在稳健性检查中还纳入了国家和年份固定效应，以减轻遗漏的变量偏差，并捕获跨空间和时间的未观察到的异质性。研究结果表明，传统上被认为是优势的治理因素，如政治稳定、人类发展和民主，在与地区安全动态不一致的情况下，可能会无意中增加恐怖主义的死亡率。相反，军事化和腐败表现出矛盾的效果，而地区冲突则表现出意想不到的负面关联。该研究揭示了几种违反直觉的治理效应，强调了在解释长期弹性时需要谨慎，并强调了未来研究潜在非线性和忽略变量影响的重要性。本研究通过提供一个跨国计量经济学框架来理解可持续发展背景下的恐怖主义死亡率，为全球治理文献做出了独特的贡献。报告最后提出了政策见解，呼吁制定国际协调的治理战略，通过包容性的、面向发展的安全改革，加强制度弹性，促进可持续发展目标16的目标。

{"title":"Global governance and security challenges: transnational pathways to reducing terrorism mortality in a globalized world","authors":"Sohidul Islam , Md. Mustaqim Roshid , Reday Chandra Bhowmik , Bablu Kumar Dhar , Mohammed Saiful Islam , Asif Raihan , Fatema Akter","doi":"10.1016/j.resglo.2025.100312","DOIUrl":"10.1016/j.resglo.2025.100312","url":null,"abstract":"<div><div>This study investigates the transnational drivers of terrorism mortality through the lens of global governance, focusing on countries most affected by terrorism during the study period (1995–2023), identified dynamically using Global Terrorism Index rankings across multiple years rather than a single static list<strong>.</strong> Using the Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) model, it analyzes how key governance variables—political stability, regional conflict, human development, militarization, liberal democracy, and political corruption—influence terrorism-related deaths across interconnected regions. The analysis accounts for cross-sectional dependence and heterogeneity, and additionally incorporates country and year fixed effects in robustness checks to mitigate omitted variable bias and capture unobserved heterogeneity across space and time<strong>.</strong> Findings reveal that governance factors traditionally considered strengths, such as political stability, human development, and democracy, may inadvertently escalate terrorism mortality when poorly aligned with regional security dynamics. Conversely, militarization and corruption exhibit paradoxical effects, while regional conflict presents unexpected negative associations. The study uncovers several counterintuitive governance effects, reinforcing the need for caution in interpreting long-run elasticities and highlighting the importance of future research into potential nonlinearities and omitted variable influences. This study uniquely contributes to the global governance literature by offering a transnational econometric framework to understand terrorism mortality within a sustainable development context. It concludes with policy insights calling for internationally coordinated governance strategies that reinforce institutional resilience and promote SDG 16 objectives through inclusive, development-oriented security reforms.</div></div>","PeriodicalId":34321,"journal":{"name":"Research in Globalization","volume":"11 ","pages":"Article 100312"},"PeriodicalIF":0.0,"publicationDate":"2025-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145094854","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

From globalization to innovation: investigating the impact of R&D, internet penetration, and economic factors on digitalization in BRICS 从全球化到创新：研究研发、互联网普及和经济因素对金砖国家数字化的影响

Q1 Economics, Econometrics and Finance

Research in Globalization

Pub Date : 2025-09-08 DOI: 10.1016/j.resglo.2025.100314

Marc Audi , Khalil Ahmad , Marc Poulin , Amjad Ali

Digitalization has become a pivotal force shaping global trade and economic development, particularly across emerging economies. BRICS nations demonstrate diverse trajectories of digital expansion that reflect varying degrees of globalization, technological adoption, and policy frameworks. The core novelty is the identification and analysis of the globalization and digitalization is taking within the BRICS nations, reflecting their technological adoption and investment in the field of R&D. This study examines how different dimensions of globalization (economic, social, and political), along with internet penetration, R&D investment, GDP growth, and exchange rate movements, collectively influence digitalization in the BRICS economies. Employing panel data from 2000 to 2022, the analysis uses multiple econometric techniques, panel regression (fixed and random effects), robust least squares, fully modified OLS, dynamic OLS, and panel quantile regression, to capture both short-run and long-run dynamics, as well as distribution-specific impacts on ICT goods exports. Economic globalization, R&D expenditure, and GDP growth consistently show positive and significant effects on digitalization, broader internet penetration is especially critical at early stages. Social and political globalization produce nuanced outcomes depending on institutional and cultural contexts, while currency depreciation exerts a generally negative impact by making technology imports more expensive. The results underscore that BRICS policymakers should stabilize macroeconomic conditions, invest in R&D, expand internet access, and strategically engage with global markets to foster inclusive digital growth. Tailored governance measures and targeted capacity-building efforts are also vital for translating globalization benefits into sustainable digital transformation across these emerging economies.

数字化已成为影响全球贸易和经济发展的关键力量，尤其是在新兴经济体中。金砖国家的数字扩张轨迹各异，反映了不同程度的全球化、技术采用和政策框架。报告的核心新颖之处在于对金砖国家正在经历的全球化和数字化的识别和分析，反映了金砖国家在研发领域的技术采用和投资。本研究考察了全球化（经济、社会和政治）的不同维度，以及互联网普及率、研发投资、GDP增长和汇率变动如何共同影响金砖国家经济体的数字化。该分析采用2000年至2022年的面板数据，采用多种计量经济学技术、面板回归（固定效应和随机效应）、稳健最小二乘法、完全修正的OLS、动态OLS和面板分位数回归，以捕捉短期和长期动态，以及分布对ICT产品出口的具体影响。经济全球化、研发支出和GDP增长持续对数字化表现出积极而显著的影响，更广泛的互联网普及在早期阶段尤为重要。社会和政治全球化根据制度和文化背景产生微妙的结果，而货币贬值则通过提高技术进口成本而产生普遍的负面影响。结果强调，金砖国家决策者应稳定宏观经济环境，投资研发，扩大互联网接入，并战略性地参与全球市场，以促进包容性数字增长。量身定制的治理措施和有针对性的能力建设工作对于将全球化的好处转化为这些新兴经济体的可持续数字化转型也至关重要。

{"title":"From globalization to innovation: investigating the impact of R&D, internet penetration, and economic factors on digitalization in BRICS","authors":"Marc Audi , Khalil Ahmad , Marc Poulin , Amjad Ali","doi":"10.1016/j.resglo.2025.100314","DOIUrl":"10.1016/j.resglo.2025.100314","url":null,"abstract":"<div><div>Digitalization has become a pivotal force shaping global trade and economic development, particularly across emerging economies. BRICS nations demonstrate diverse trajectories of digital expansion that reflect varying degrees of globalization, technological adoption, and policy frameworks. The core novelty is the identification and analysis of the globalization and digitalization is taking within the BRICS nations, reflecting their technological adoption and investment in the field of R&D. This study examines how different dimensions of globalization (economic, social, and political), along with internet penetration, R&D investment, GDP growth, and exchange rate movements, collectively influence digitalization in the BRICS economies. Employing panel data from 2000 to 2022, the analysis uses multiple econometric techniques, panel regression (fixed and random effects), robust least squares, fully modified OLS, dynamic OLS, and panel quantile regression, to capture both short-run and long-run dynamics, as well as distribution-specific impacts on ICT goods exports. Economic globalization, R&D expenditure, and GDP growth consistently show positive and significant effects on digitalization, broader internet penetration is especially critical at early stages. Social and political globalization produce nuanced outcomes depending on institutional and cultural contexts, while currency depreciation exerts a generally negative impact by making technology imports more expensive. The results underscore that BRICS policymakers should stabilize macroeconomic conditions, invest in R&D, expand internet access, and strategically engage with global markets to foster inclusive digital growth. Tailored governance measures and targeted capacity-building efforts are also vital for translating globalization benefits into sustainable digital transformation across these emerging economies.</div></div>","PeriodicalId":34321,"journal":{"name":"Research in Globalization","volume":"11 ","pages":"Article 100314"},"PeriodicalIF":0.0,"publicationDate":"2025-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145026347","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Bridging digital skill gaps in the global workforce: A synthesis and conceptual framework building 弥合全球劳动力中的数字技能差距：综合和概念框架构建

Q1 Economics, Econometrics and Finance

Research in Globalization

Pub Date : 2025-08-30 DOI: 10.1016/j.resglo.2025.100311

Pravin Mhaske , Biplab Bhattacharjee , Nivedita Haldar , Parijat Upadhyay , Anandadeep Mandal

Industries undergoing rapid digital transformation are facing a significant global challenge: a widening gap between required and available workforce digital skills. This study identifies key determinants of this gap and develops a comprehensive conceptual framework for mitigation. The research adopted a mixed-methods strategy, integrating expert insights through interviews and a PRISMA-informed systematic review of existing literature. The findings identify critical enablers, including accessible digital infrastructure, targeted investments in skilling, inclusive policies, government-led digital literacy initiatives, industry-aligned curricula, and organizational digital maturity. In contrast, key barriers include limited access to quality educational resources, outdated curricula, high infrastructure costs, and inadequate regulatory support. Further, integrating the Resource-Based View and Technology Acceptance Model, Technology–Organization–Environment frameworks, we propose a novel conceptual model capturing organizational and individual factors influencing skill acquisition. This framework elucidates the complex dynamics driving digital skill gaps and provides actionable guidance for designing inclusive, future-ready upskilling strategies. Our findings offer vital insights for researchers, HR leaders, educators, and policymakers building resilient, digitally competent workforces for Industry 4.0 and beyond.

正在经历快速数字化转型的行业正面临着重大的全球挑战：所需和可用劳动力数字技能之间的差距日益扩大。本研究确定了这一差距的关键决定因素，并制定了一个全面的缓解概念框架。本研究采用混合方法策略，通过访谈整合专家见解，并对现有文献进行prisma信息系统综述。调查结果确定了关键的推动因素，包括可访问的数字基础设施、有针对性的技能投资、包容性政策、政府主导的数字扫盲计划、与行业一致的课程和组织的数字成熟度。相比之下，主要障碍包括获得优质教育资源的机会有限、课程过时、基础设施成本高以及监管支持不足。在此基础上，结合资源基础观和技术接受模型、技术-组织-环境框架，我们提出了一个新的概念模型，以捕捉影响技能习得的组织和个人因素。该框架阐明了导致数字技能差距的复杂动态因素，并为设计包容性、面向未来的技能提升战略提供了可操作的指导。我们的研究结果为研究人员、人力资源领导者、教育工作者和政策制定者提供了重要的见解，帮助他们为工业4.0及以后的时代打造有弹性、有数字能力的劳动力。

{"title":"Bridging digital skill gaps in the global workforce: A synthesis and conceptual framework building","authors":"Pravin Mhaske , Biplab Bhattacharjee , Nivedita Haldar , Parijat Upadhyay , Anandadeep Mandal","doi":"10.1016/j.resglo.2025.100311","DOIUrl":"10.1016/j.resglo.2025.100311","url":null,"abstract":"<div><div>Industries undergoing rapid digital transformation are facing a significant global challenge: a widening gap between required and available workforce digital skills. This study identifies key determinants of this gap and develops a comprehensive conceptual framework for mitigation. The research adopted a mixed-methods strategy, integrating expert insights through interviews and a PRISMA-informed systematic review of existing literature. The findings identify critical enablers, including accessible digital infrastructure, targeted investments in skilling, inclusive policies, government-led digital literacy initiatives, industry-aligned curricula, and organizational digital maturity. In contrast, key barriers include limited access to quality educational resources, outdated curricula, high infrastructure costs, and inadequate regulatory support. Further, integrating the Resource-Based View and Technology Acceptance Model, Technology–Organization–Environment frameworks, we propose a novel conceptual model capturing organizational and individual factors influencing skill acquisition. This framework elucidates the complex dynamics driving digital skill gaps and provides actionable guidance for designing inclusive, future-ready upskilling strategies. Our findings offer vital insights for researchers, HR leaders, educators, and policymakers building resilient, digitally competent workforces for Industry 4.0 and beyond.</div></div>","PeriodicalId":34321,"journal":{"name":"Research in Globalization","volume":"11 ","pages":"Article 100311"},"PeriodicalIF":0.0,"publicationDate":"2025-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145018841","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

China–Ukraine relations and the Belt and Road Initiative: Challenges and future prospects 中乌关系与“一带一路”倡议：挑战与未来展望

Q1 Economics, Econometrics and Finance

Research in Globalization

Pub Date : 2025-08-20 DOI: 10.1016/j.resglo.2025.100309

Mykyta Simonov

The Belt and Road Initiative is an innovative global strategy launched by China to enhance economic cooperation and connectivity across Asia, Europe, and Africa. The European continent holds particular significance within China’s foreign policy, serving as a key area for investment, market expansion, and diplomatic engagement. Ukraine’s unique strategic geographical location, combined with its significant technological, industrial, and scientific potential, aligns closely with the ideas and objectives of the Belt and Road Initiative. This presents Ukraine with an essential opportunity to integrate into emerging political and economic globalization and contribute to the development of a new world economic order. This paper discusses the advantages and challenges of the Belt and Road Initiative for Sino-Ukrainian relations and highlights key policy tasks Ukraine needs to address in the context of China’s global project.

“一带一路”倡议是中国提出的一项创新全球战略，旨在加强亚欧非经济合作和互联互通。欧洲大陆在中国外交政策中具有特别重要的地位，是中国投资、市场拓展和外交往来的重要领域。乌克兰独特的战略地理位置，加上其巨大的技术、工业和科学潜力，与“一带一路”倡议的理念和目标密切相关。这为乌克兰提供了融入正在出现的政治和经济全球化并为发展新的世界经济秩序作出贡献的重要机会。本文讨论了“一带一路”倡议对中乌关系的优势和挑战，并强调了乌克兰在中国全球项目背景下需要解决的关键政策任务。

引用次数: 0

A global analysis of the role of uncertainty, globalisation, security and market concentration on domestic capital formation 不确定性、全球化、安全和市场集中度对国内资本形成的作用的全球分析

Q1 Economics, Econometrics and Finance

Research in Globalization

Pub Date : 2025-08-20 DOI: 10.1016/j.resglo.2025.100310

Gildas Dohba Dinga, Gisele Mah

This paper studies the dynamics between domestic physical capital formation and selected macroeconomic indicators (uncertainty, globalisation, security and market concentration) that have been given little consideration both within the theoretical scope and empirical perspectives. Based on a panel of 93 countries and a time frame from 1995 to 2019, we employ the dynamic common correlation effect technique and the quantile-on-quantile approach to attain the objectives of the study. The outcome from the estimated models indicates that security expenditure and globalisation (especially economic globalisation, trade globalisation, social globalisation, interpersonal globalisation and cultural globalisation) augment domestic capital formation globally, but heterogeneity in results exist when the panel is subdivided into income levels and sub-regions, whereas market concentration and uncertainty indicate no significant effect on capital formation though negative with some heterogeneity observed at income levels, sub-regional groupings and different quantiles. We recommend a global consensus in the world at large to tackle the negative effect of uncertainty. The diversification of markets in less developed countries is equally vital to boost domestic capital formation. The enforcement of security within nations is equally vital to boost business confidence.

本文研究了国内实物资本形成与选定的宏观经济指标（不确定性、全球化、安全性和市场集中度）之间的动态关系，这些指标在理论范围和实证观点中都很少得到考虑。基于93个国家的面板和1995年至2019年的时间框架，我们采用动态共同相关效应技术和分位数对分位数方法来实现研究目标。估计模型的结果表明，安全支出和全球化（特别是经济全球化、贸易全球化、社会全球化、人际全球化和文化全球化）在全球范围内增加了国内资本形成，但当面板细分为收入水平和次区域时，结果存在异质性。然而，市场集中度和不确定性对资本形成没有显著影响，尽管在收入水平、次区域分组和不同分位数上存在一定的异质性。我们建议在全球范围内达成共识，以应对不确定性的负面影响。较不发达国家市场的多样化对促进国内资本形成同样至关重要。在国家内部加强安全对于增强商业信心同样至关重要。

{"title":"A global analysis of the role of uncertainty, globalisation, security and market concentration on domestic capital formation","authors":"Gildas Dohba Dinga, Gisele Mah","doi":"10.1016/j.resglo.2025.100310","DOIUrl":"10.1016/j.resglo.2025.100310","url":null,"abstract":"<div><div>This paper studies the dynamics between domestic physical capital formation and selected macroeconomic indicators (uncertainty, globalisation, security and market concentration) that have been given little consideration both within the theoretical scope and empirical perspectives. Based on a panel of 93 countries and a time frame from 1995 to 2019, we employ the dynamic common correlation effect technique and the quantile-on-quantile approach to attain the objectives of the study. The outcome from the estimated models indicates that security expenditure and globalisation (especially economic globalisation, trade globalisation, social globalisation, interpersonal globalisation and cultural globalisation) augment domestic capital formation globally, but heterogeneity in results exist when the panel is subdivided into income levels and sub-regions, whereas market concentration and uncertainty indicate no significant effect on capital formation though negative with some heterogeneity observed at income levels, sub-regional groupings and different quantiles. We recommend a global consensus in the world at large to tackle the negative effect of uncertainty. The diversification of markets in less developed countries is equally vital to boost domestic capital formation. The enforcement of security within nations is equally vital to boost business confidence.</div></div>","PeriodicalId":34321,"journal":{"name":"Research in Globalization","volume":"11 ","pages":"Article 100310"},"PeriodicalIF":0.0,"publicationDate":"2025-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144893558","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

An Investigation of the spatial dependence between economic policy uncertainty and economic activities in emerging market economies 新兴市场经济体经济政策不确定性与经济活动的空间依赖关系研究

Q1 Economics, Econometrics and Finance

Research in Globalization

Pub Date : 2025-08-06 DOI: 10.1016/j.resglo.2025.100308

Abigail Naa Korkor Adjei, George Tweneboah, Peterson Owusu Junior

Understanding the trends and impact of economic policy uncertainty (EPU) and its relationship with economic activities has become essential because of its significant negative impact on economic activities. In this era of trade and globalization, it’s evident that, emerging market economies (EMEs) are not independent of each other. Consequently, economic activities in one region may affect economic activities in other regions. We offer new empirical evidence by employing the concept of spatial analysis to examine the spatial cross-country linkages between EMEs to determine whether the dependence between EPU and economic activities is as a result of their global proximity. The study employs a non-parametric geospatial analysis and finds evidence of spatial autocorrelation across all the selected EMEs. The similarities and dissimilarities between the selected EMEs are significantly influenced by the distance between them. Also, heterogeneity was recorded when the six EMEs were divided into sub regions. The study further discovered that, policies (trade, monetary and fiscal) as well as spillover effects, are some of the factors that influence EPU spatial autocorrelation in EMEs. Findings on a wide range of macroeconomic variables and their relationship to EPU are accessible to policymakers and regulators.

由于经济政策不确定性对经济活动具有重大的负面影响，因此了解经济政策不确定性的趋势和影响及其与经济活动的关系变得至关重要。在这个贸易和全球化的时代，新兴市场经济体显然不是相互独立的。因此，一个地区的经济活动可能会影响到其他地区的经济活动。本文采用空间分析的概念，对新兴市场经济体之间的空间跨国家联系进行了实证研究，以确定经济活动与货币政策单位之间的依赖是否源于它们的全球邻近性。该研究采用了非参数地理空间分析，并在所有选定的eme中发现了空间自相关的证据。所选eme之间的相似性和差异性受到它们之间距离的显著影响。此外，当6个eme划分为子区域时，也记录了异质性。研究进一步发现，政策（贸易、货币和财政）以及溢出效应是影响EMEs中EPU空间自相关的一些因素。关于一系列宏观经济变量及其与EPU关系的研究结果可供政策制定者和监管者查阅。

{"title":"An Investigation of the spatial dependence between economic policy uncertainty and economic activities in emerging market economies","authors":"Abigail Naa Korkor Adjei, George Tweneboah, Peterson Owusu Junior","doi":"10.1016/j.resglo.2025.100308","DOIUrl":"10.1016/j.resglo.2025.100308","url":null,"abstract":"<div><div>Understanding the trends and impact of economic policy uncertainty (EPU) and its relationship with economic activities has become essential because of its significant negative impact on economic activities. In this era of trade and globalization, it’s evident that, emerging market economies (EMEs) are not independent of each other. Consequently, economic activities in one region may affect economic activities in other regions. We offer new empirical evidence by employing the concept of spatial analysis to examine the spatial cross-country linkages between EMEs to determine whether the dependence between EPU and economic activities is as a result of their global proximity. The study employs a non-parametric geospatial analysis and finds evidence of spatial autocorrelation across all the selected EMEs. The similarities and dissimilarities between the selected EMEs are significantly influenced by the distance between them. Also, heterogeneity was recorded when the six EMEs were divided into sub regions. The study further discovered that, policies (trade, monetary and fiscal) as well as spillover effects, are some of the factors that influence EPU spatial autocorrelation in EMEs. Findings on a wide range of macroeconomic variables and their relationship to EPU are accessible to policymakers and regulators.</div></div>","PeriodicalId":34321,"journal":{"name":"Research in Globalization","volume":"11 ","pages":"Article 100308"},"PeriodicalIF":0.0,"publicationDate":"2025-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144809935","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0