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The foremost purpose of the study is to explore the impact of renewable energy consumption (REC) on the economic growth of ASEAN countries. Data were extracted from the World Bank and ASEAN Energy Information Administration (EIA). The “Generalized Method of Moments (GMM)” approach has been used by using the STATA software for the analysis. The results unprotected that the REC and non-renewable energy consumption (NREC), growth in labor force and capital stock has positive nexus with the economy growth of the ASEAN countries. These findings provide the guidelines to the regulators that they should make the policies for the REC and NREC that increase the economy growth of the world.

The events taking place in the world require a significant restructuring of the economic system, the formation of closer socio-economic interactions with Russia’s partners, primarily within the framework of Eurasian associations. The development and deepening of integration ties can contribute to the growth of the economies of allied countries and the expansion of national labor markets, which is especially important in the context of increasing restrictions on the part of labor resources in individual countries. The article examines the main characteristics of the labor markets of the countries of the Eurasian Economic Union (EAEU), highlighting common features and differences. Based on the methodology developed by the authors (using correlation and regression analysis methods), the growth of labor productivity in the long term is assessed for each country of the Union. In accordance with demographic forecast calculations, an assessment is given of the growth in the number of employed people in national labor markets, as well as the possibility of increasing labor migration. As a result of the comparison of the obtained forecast estimates, the possibilities for economic growth of the allied countries are determined.

Although the Latin American region's growth rates are at a three decade high, they have been historically disappointing in relative terms, which cannot be dissociated from the microeconomic environment in which firms operate. Policy makers may need to complement their focus on macroeconomic stability with an increased emphasis on microeconomic reforms. By providing empirical evidence linking actual firm performance to shortcomings in Latin America's investment climate, the book discusses policies that could have a significant impact on firm productivity by improving the environment in which firms invest and operate.

The world's attention to the countries of the Middle East and North Africa (MENA) region has often been dominated by headline issues: conflict, sanctions, political turmoil, and rising oil prices.Little of this international attention has considered the broad range of development challenges facing this diverse group of countries.

The results of the review do not disappoint. The authors identified more than 120 cash transfer programs that were implemented between 2000 and mid-2009 in Sub-Saharan Africa. These programs have varying objectives, targeting, scale, conditions, technologies, and more. A sizable number of these programs conducted robust impact evaluations that provide important information, presented here, on the merits of cash transfer programs and their specific design features in the African context. The authors present summary information on programs, often in useful graphs, and provide detailed reference material in the appendixes. They highlight how many of the cash transfer programs in Africa that had not yet begun implementation at the time of writing will continue to provide important evaluation results that will guide the design of cash transfer programs in the region. In addition to presenting data and analysis on the mechanics of the programs, the authors discuss issues related to political economy. They highlight the importance of addressing key tradeoffs in cash transfers, political will, and buy-in, and they emphasize the need to build evidence-based debates on cash transfer programs. Useful anecdotes and discussion illustrate how some programs have dealt with these issues with varying degrees of success. This text will serve as a useful reference for years to come for those interested in large- and small-scale issues of cash transfer implementation, both in Africa and beyond. However, the book is not an end in itself. It also raises important questions that must be addressed and knowledge gaps that must be filled. Therefore, it is useful both in the information it provides and in the issues and questions it raises.

We construct a continuous-time overlapping-generations model with labour market frictions to examine the relationships among unemployment, asset bubbles, and economic growth. We show that the existence of asset bubbles is contingent upon the unemployment rate: a bubble (non-bubble) regime arises in equilibrium when unemployment is relative low (high). Our framework focuses on the boom and bust of asset bubbles caused by changes in fundamental variables, not a stochastic probability. Then, as labour market frictions generate a negative relationship between the unemployment rate and economic growth, we find that the bubble regime exhibits a higher growth rate than the non-bubble regime. Furthermore, we show that policy or parameter changes that have a positive influence on the labour market shift the economy from a non-bubble regime to a bubble regime.

The article proposes a novel nonlinear optimal control method for the dynamics of coupled time-delayed models of economic growth. Distributed and interacting capital–labor models of economic growth are considered. Such models comprise as main variables the accumulated physical capital and labor. The interaction terms between the local models are related to the transfer of capitals between the individual economies. Each model is also characterized by time delays between its state variables and its outputs. To implement the proposed control method, the state-space description of the interconnected growth models undergoes approximate linearization around a temporary operating point which is updated at each iteration of the control algorithm. This linearization point is defined by the present value of the system’s state vector and by the last sampled value of the control inputs vector. The linearization process relies on first-order Taylor series expansion and on the computation of the related Jacobian matrices. For the approximately linearized state-space description of the coupled time-delayed growth models, a stabilizing H-infinity (optimal) controller is designed. This controller provides the solution to the nonlinear optimal control problem for the coupled time-delayed growth models under uncertainty and perturbations. To compute the stabilizing gains of the H-infinity feedback controller, an algebraic Riccati equation is solved repetitively at each iteration of the control algorithm. The global stability properties of the proposed control scheme for the coupled time-delayed models of economic growth are proven through Lyapunov analysis.

According to Shen and Onishi, China's economy is predicted to reach zero-growth in 2040 and 2033, respectively. Both studies have attracted significant attention in academia. However, their theoretical models have two inadequacies. First, the Euler equations used to depict the dynamic path of the economy are not derived. Second, the labor growth rate is not incorporated into the model. These inadequacies make their empirical projections arbitrary under strict assumptions. Therefore, we derive the Euler equations of the model using dynamic formulations by incorporating the labor growth rate into our model. Using the Euler equations, we depict the path of the Chinese economy from 2009 to 2050. The result indicates that, in 2026, China's GDP would surpass US GDP. Moreover, around 2050, China's GDP is projected to be almost 2.22 times higher than US GDP, while the GDP per capita will be half the US GDP per capita.

Spain has the most serious and persistent unemployment problem in Europe, with an unemployment rate that reached 24.6 percent in early 1994. This paper explores the characteristics of this unemployment problem, its causes, and provides a brief discussion of recent labor market reform measures and their likely impact. A demographic shift in recent years has produced a large rise in female labor force participation and a decrease in agricultural jobs to which the economy has been unable to adjust. The effects of generous unemployment benefits and the large underground economy may explain 6-12 percentage points of the resulting unemployment, but the remainder must be explained by failures and rigidities in the labor market. The paper presents econometric evidence that unemployment displays hysteresis, and that wages are not responsive to changes in the unemployment rate. This evidence supports the claim that insider-outsider factors and rigidities in the legal structure of the labor market are responsible for much of the high unemployment rate. Recent reforms have improved the functioning of the labor market, but they are unlikely to be sufficient to reduce unemployment to single digit rates without further action.