Socioeconomic challenges最新文献

{"title":"A Time Series Analysis of Noninterest to Interest-Earning Dynamics Between 1984 to 2023 in the US Commercial Banking Sector","authors":"Achintya Ray","doi":"10.61093/sec.8(1).112-122.2024","DOIUrl":"https://doi.org/10.61093/sec.8(1).112-122.2024","url":null,"abstract":"Both interest and noninterest earnings form the two critical components of the income stream of commercial banks. While interest earnings are tied to the lending volume and prevailing interest rates primarily dictated by the monetary policy and central bank interventions, noninterest earnings can come from diversified sources like income from fiduciary activities, trading revenue, service charges on deposit accounts, fee income, etc. Noninterest earnings can be unrelated to lending volume and prevailing interest rates and possibly uncorrelated with the monetary policies. Noninterest earnings may be a more robust source of income, especially during the low-interest rate regimes. Managing the noninterest to interest earnings is a critical component of income smoothing used by the banks. Noninterest earnings have become a significant component of banks’ overall earnings in the last four decades, and the ratio of noninterest to interest earnings has also grown significantly, raising questions about the primary role of the banking sector in financial intermediation as defined by the collection and disbursement of loanable funds throughout the economy. The rise in noninterest earnings also raises questions about the potential conflict of interest especially if banks earn significant consulting income from the same entities that borrow heavily from the banks. In this paper, I look at the time series dynamics of the ratio of noninterest-to-interest earnings spanning nearly four decades from 1984:Q1 to 2023:Q3 for the USA’s FDIC-insured commercial banking sector. Although the ratio has fluctuated over the period and risen from the baseline, it does not exhibit any non-stationarity. The presence of unit root cannot be found during the time period studied. In other words, the ratio of noninterest-to-interest earnings in the US commercial banking sector does not show any explosive and unstainable growth. In a nutshell, the rise in the ratio seems to be an outcome of the broader income diversification strategy used by the banks and not necessarily a dramatic change in the business model of US commercial banking industry.","PeriodicalId":488745,"journal":{"name":"Socioeconomic challenges","volume":"60 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140751698","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}

{"title":"The Impact of Covid-19 Pandemic on Cryptocurrency Adoption in Investments: a Bibliometric Study","authors":"Ibrahim Niftiyev, Murad Kheyirkhabarli","doi":"10.61093/sec.8(1).154-169.2024","DOIUrl":"https://doi.org/10.61093/sec.8(1).154-169.2024","url":null,"abstract":"In the post-COVID-19 era, academic papers on changing financial investment habits are proliferating rapidly as the pandemic has disrupted economic and financial markets, altered investment decisions, and brought new risks and challenges. In addition to traditional market instruments such as gold, oil, and other commodities, cryptocurrencies have attracted new attention due to their dynamic and decentralized nature in these extraordinary times, which must be constantly analyzed from different angles. This paper aims to analyze the evolving academic interest in the adoption of cryptocurrencies for investment decisions, focusing on research papers published in the Scopus database between 2020 and 2023 through bibliometric analysis. The Scopus database provides high-quality publications that have been peer-reviewed and rigorously scrutinized, and the chosen time period corresponds exactly to the period that was sufficient to provide a significant amount of research. The choice of bibliometric research methodology supported our research question and significantly improved our understanding of the relationship between the rise in financial market usage related to COVID-19. The specific focus of this research shows a significant correlation between COVID-19 and cryptocurrencies as an investment option, as evidenced by the increasing number of academic papers and collaboration between numerous countries and institutions. The analysis of the bibliometric research results underlines the increasing importance of cryptocurrencies as alternative investment opportunities in the financial markets. A remarkable interest in this area can be observed globally, with leading countries such as China, India, the USA, the UK, and Malaysia driving research efforts. Through the use of bibliometric analysis, this study encourages cross-border collaboration and highlights the academic recognition of cryptocurrencies as viable investment opportunities in the international financial landscape. Investors, researchers, and policymakers are interested in the growing recognition of cryptocurrencies as a viable investment opportunity, which is reflected in increasing research collaborations and investment opportunities. These trends highlight the evolving landscape of financial markets and regulatory considerations.","PeriodicalId":488745,"journal":{"name":"Socioeconomic challenges","volume":"13 17","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140753720","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}

{"title":"Growth Acceleration Determinants in East Asia and MENA: Empirical Evidence from Mixed Effect Models","authors":"Issam Djouadi, Ahmed Zakane, Okba Abdellaoui","doi":"10.61093/sec.8(1).208-218.2024","DOIUrl":"https://doi.org/10.61093/sec.8(1).208-218.2024","url":null,"abstract":"This study is aimed at studying the main factors that determine the process of accelerating economic growth in countries located in East Asia, the Middle East and North Africa between 1996 and 2019. The sample of countries included: Algeria; Bahrain; China; Egypt, Arab Republic; Hong Kong; Indonesia; Iraq; Japan; Jordan; Korea, Republic of; Kuwait; Malaysia; Mauritania; Morocco; Philippines; Qatar; Saudi Arabia; Singapore; Sudan; Thailand; Tunisia; United Arab Emirates; Yemen. The research is based on the methodology of Haussmann, Pritchett and Rodrik (2005), according to which 3 criteria of accelerated economic growth are used: 1) to characterize the process of acceleration itself growth of GDP per capita by 2%; 2) to characterize cases of rapid growth – annual growth rates for eight years are more than 3.5%; 3) to characterize the achievement of sustainable acceleration GDP per capita is greater than the highest level after the onset of the acceleration phase. As the main determinants of accelerated economic growth, the characteristics of institutional quality (the rule of law, control of corruption and the quality of regulation), factors of accumulation (the share of gross accumulation of fixed capital in GDP and characteristics of human capital through the measurement of the duration of education and the profitability of education), the openness of trade ( share of trade to GDP) and natural resources (share of revenues from natural resources to GDP). The research was carried out using Probit, Logit and Tobit models. Logit and Probit modeling made it possible to assess the impact on the acceleration of economic growth: changes in human capital as insignificantly positive; trade openness – as a minor positive, changes in natural resources as a significant positive, increase in the share of investment in GDP – as the largest positive. An increase in institutional quality does not lead to an increase in the chances of the studied countries (the rule of law index has a slight positive effect, the corruption control index has a slight negative effect, the only positive effect that deserves attention concerns the regulation quality index). The results of Tobit modeling demonstrate a statistically significant positive impact of institutional quality, regulatory quality, rule of law, investment and natural resources on the acceleration of economic growth. Thus, the acceleration of economic growth observed in the countries of East Asia, the Middle East and North Africa is a direct result of successful policies aimed at improving institutional quality, promoting investment and harnessing the positive impact of natural resources.","PeriodicalId":488745,"journal":{"name":"Socioeconomic challenges","volume":"197 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140754591","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}

{"title":"The Effects of Dividend Policy On the Price of Shares of Microfinance Companies In Developing Countries","authors":"Prem Bahadur Budhathoki, Kumar Khadka","doi":"10.61093/sec.8(1).52-61.2024","DOIUrl":"https://doi.org/10.61093/sec.8(1).52-61.2024","url":null,"abstract":"The strategy of dividend policy implementation in the context of business value growth is the subject of debates in theoretical and empirical research. Dividends and retained earnings are two alternatives that investors have when deciding how to distribute their income. According to the bird-in-the-hand theory, a company’s value is maximized by paying large dividends, because investors consider the payouts less risky than capital gains, regular high dividend payments serve as an information signal to market participations about the current and future financial stability, which attracts new investors and allows attracting more external resources. Instead, according to Miller and Modigliani’s dividend irrelevancy theory, corporate value is influenced not by the division of income into dividends and retained earnings, but by investment policy and income from assets. There is a lack of research in the literature that examines the relationship between dividend payouts and stock prices in developing countries (especially in Nepal) and there is no empirical evidence that profitability can moderate this relationship. The article examines the influence of dividend yield, retention ratio and dividend payout ratio on share price both in general and directly, and indirectly-through return on assets and return on equity. The information base is data for the 2017-2021 financial years on 61 Nepalese microfinance institutions (10 of which were the direct object of the study) registered on the Nepal Stock Exchange (NEPSE), obtained from the official websites of the relevant institutions, ShareSansar and NEPSE statistics. SPSS software (PROCESS v4.3) was used for data analysis. Descriptive statistics, the correlation and regression analysis were used for the analysis. The article analyzes three types of effects: total, direct and indirect. The overall effect of dividend yield on share price is negative, the retention ratio is positive and significant, and the dividend payout ratio is negative and significant. The direct effect of the dividend yield on the stock price is negative, the retention ratio and the dividend payout ratio are positive and insignificant. The indirect effect of dividend yield and retention ratio on share price through return on assets is negative and insignificant, and through return on equity it is positive and significant. The indirect effect of the dividend payout ratio through the return on assets is positive and significant. However, the return on shareholders’ capital has a negative and insignificant effect on the share price.","PeriodicalId":488745,"journal":{"name":"Socioeconomic challenges","volume":"249 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140751886","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}

{"title":"Multidimensional Factors To Measure Quality In Education Institutions","authors":"Samiya Bedoui, Asma Adouane","doi":"10.61093/sec.8(1).143-153.2024","DOIUrl":"https://doi.org/10.61093/sec.8(1).143-153.2024","url":null,"abstract":"This study aims to assess satisfaction with the quality of education in educational institutions in Algeria and to determine the factors that significantly influence it. The study was based on a survey of inspectors representing the primary control body for educational institutions in Algeria. The questionnaire contained questions based on which the inspectors assessed the quality of education in 1,101 schools (representative sample). A three-point Likert scale was used to evaluate inspectors’ agreement with the statements included in the questionnaire. The questionnaire consists of 7 factors that characterize the quality of the professional development of pedagogical workers, the educational program, textbooks, the educational process, the conditions of school education, the evaluation process, and the effectiveness of the teacher’s work. Correspondence of the data to the normal law of distribution was confirmed with the help of SENWEKS (asymmetry coefficient/skewness coefficient) and KIRTOSIS (variation coefficient or excess) indicators. The reliability of the research tools and the possibility of relying on the questionnaire data were confirmed using Cronbach’s alpha coefficient and validity – using the overall internal consistency coefficient. The internal consistency reliability of the questionnaire was confirmed using Pearson’s linear correlation coefficients between the factors and the total score of the questionnaire. The study proved that the factors of the quality of education, with the highest level of satisfaction expressed by the respondents, were the quality of educational programs (inspectors have a favourable opinion about the educational content, considering it relevant and well structured) and textbooks (inspectors appreciate the clarity and richness of the content of the textbook, emphasizing its essential role in student learning), while they were the least satisfied with the quality of learning conditions (inspectors point to a lack of educational resources, inadequate infrastructure and a large number of students in the classroom). One-sample Student’s t-test (one-sample T-Student Test) was used to identify the factors that have the most significant impact on measuring the quality of education in educational institutions in Algeria. The most important factors were the effectiveness of the teachers, the quality of the curriculum and the quality of the textbooks. The research emphasizes the importance of continuous learning and adequate support for teachers.","PeriodicalId":488745,"journal":{"name":"Socioeconomic challenges","volume":"11 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140754053","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}

{"title":"The Impact of the Monetary Policy of the US Federal Reserve on the Ratio of the US Dollar To the Japanese Yen in the Foreign Exchange Market during 2015-2023","authors":"M. Yoshimori","doi":"10.61093/sec.8(1).16-30.2024","DOIUrl":"https://doi.org/10.61093/sec.8(1).16-30.2024","url":null,"abstract":"The information base of the study is the time series of the daily exchange rate of the currency pair USD/JPY, the US 10-year Treasury bond (TB 10), the Japanese government bond 10-year (JGB 10), the volatility index (VIX) of the Chicago Board Options Exchange (CBOE), which calculated by Bloomberg. Study period: December 1, 2015 (the date the Federal Reserve raised interest rates, which initiated a new regime – began easing its ZIRP zero interest rate policy) to December 29, 2023. The relationship between monetary policy and the currency pair USD/JPY is evaluated using 3 approaches: 1) a rally dynamic system based on the standard theory of nonlinear differential equations aimed at eliminating psychological noise (1/f noise, pink noise, trend noise with spectrum capacity); 2) regression of instrumental variables with heteroskedasticity aimed at managing unobservable sources of variability; 3) an event tracking method to measure anomalous asset price response, analyzing the daily price action of USD/JPY to detect market-related fluctuations in the exchange rate and separate the impact of general market trends from related differences in interest rates. The study found that the US Federal Reserve’s (Fed’s) monetary policy only occasionally affects the USD/JPY exchange rate, and it changes mainly when monetary policy deviates from expected future trajectories. Within the studied period, this happened only 3 times: growth on December 16, 2015; emergency rate reduction due to COVID-19 on March 15, 2020; and the first increase of 75 basis points on June 15, 2022 (the article estimates the impact of each of these episodes on the exchange rate). Statements by the Fed on monetary policy affect the price dynamics of the USD/JPY pair in the short term (since short-term psychological expectations play a decisive role in shaping the dynamics of the currency market), but not often (if the statement on monetary policy is consistent with market forecasts, it is practically will not affect exchange rates). The Fed’s adoption of tools such as “forward guidance” and official statements to inform the future course of monetary policy indirectly affects the price dynamics of USD/JPY. The price action of USD/JPY was driven by the fundamentals of the difference in interest rates between the US and Japanese bonds, which are influenced by the monetary policy of the US Federal Reserve and the Bank of Japan (BoJ). In 2023, it could be hard to attempt to challenge FX intervention except to curb “excess volatility and disorderly movements in exchange rates” like the Minister of Finance’s (MoF) 2022 intervention.","PeriodicalId":488745,"journal":{"name":"Socioeconomic challenges","volume":"265 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140754355","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}

{"title":"Norm From The Top: A Social Norm Nudge To Promote Low-Practiced Behaviors Without Boomerang Effect","authors":"Alix Rouillé","doi":"10.61093/sec.8(1).123-142.2024","DOIUrl":"https://doi.org/10.61093/sec.8(1).123-142.2024","url":null,"abstract":"Social norms are an essential determinant of conformity in decision-making, a powerful nudge for helping people adopt prosocial behavior. Informing people that most of their peers behave virtuously encourages them to improve their own behavior. Nevertheless, social norm mechanisms are efficient if the proportion of people who already act prosocially is sufficient, otherwise, the norm can lead to a ”boomerang effect” namely, this induces a person who acts prosocially to abandon her previous choice since she is informed that the majority does not support her prosocial behavior. The purpose of this paper is to develop a new norm that can be efficient even when implemented in behaviors practiced by a minority of people, by contrast to current social norm nudges. In our experiment, we create a new type of feedback that includes descriptive and injunctive norms and then observe whether they are more effective than standard social norm feedback. This new feedback, named ”Norm From The Top”, provides information based on the most altruistic people in the population. The experiment was run online due to the sanitary conditions in 2021. 203 participants were recruited from Cirano (Montreal, Quebec). Cirano is an interuniversity center, multidisciplinary and intersectoral. The sample comprises 120 women and 83 men (Average age = 37.2; SD = 10.5). In the experiment, participants were randomly exposed to a social norm that elicited prosocial behavior from other participants, and we observed whether the group exposed to the Norm From The Top increased their prosocial behavior compared to the other groups. Specifically, participants were asked whether they were willing to complete surveys without compensation. This study found that this norm acted as an effective nudge, increasing the average decision regarding prosocial behavior and addressing the boomerang effect issue. The Norm From The Top sets a high reference point compared to the standard norm and does not induce a reduction of contributions higher than this reference point. In contrast, the standard norm does not have a significant effect due to the boomerang effect and leads to a concentration of the contributions towards the average, resulting in an inefficient nudge in this context. These results show the potential of the Norm From The Top enforcement to promote low-practiced prosocial behaviors, thereby increasing the range of prosocial behaviors that social norm nudges can reinforce. Applying this norm to different types of prosocial behaviors in field experiments would allow for observing its impact on actual behaviors and assessing the external validity of this new instrument before making it available to policymakers.","PeriodicalId":488745,"journal":{"name":"Socioeconomic challenges","volume":"26 15","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140753916","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}

{"title":"The Master of Business Administration (MBA) Advantage for Police Chiefs: A Case for Studying Business for Law Enforcement Leadership","authors":"Darrell Norman Burrell, Theresia Wansi, Virginia Bianco Mathis, Carlo Ninassi, Brian Hollar, Jennifer Yang, Catherine England, Joe Eulberg, James Ryerson","doi":"10.61093/sec.8(1).253-268.2024","DOIUrl":"https://doi.org/10.61093/sec.8(1).253-268.2024","url":null,"abstract":"Historically, two advanced degrees — the Master of Criminal Justice (MCJ) and the Master of Public Administration (MPA) — have been considered the preferred choices for those seeking the highest ranks of law enforcement leadership. However, in recent years, characterized by rapid social change, technological progress, and growing public attention, the role of the police chief has evolved into a multifaceted leadership position that goes far beyond the traditional responsibilities of law enforcement. It covers a broader set of duties related to leadership and management communications in police units, organizational effectiveness, strategic management, administration, and control, effective financial resources and budgeting management, communications and accountability in local communities, and ethical decision-making to overcome the multifaceted challenges of modern police activity. The article argues that the degree of Master of Business Administration (MBA), known for its adaptability and versatility, can become a powerful alternative to MCJ and MPA today, as it provides police leaders with a more universal educational base, a comprehensive set of business skills and specialized knowledge, becomes more extensive, practical and an actual form of education of capable and adaptive police management personnel, allows to best prepare them for dynamic changes and transformation of job roles. The article critically examines to what extent and when solving which tasks the heads of police departments need knowledge and skills according to the traditional attributes of an MBA: in the field of financial management, strategic planning, leadership, and human resources management, effective and crisis communication, negotiation, interaction with the public, business ethics. The specifics of the application of the main attributes of those theories that are traditionally studied within the MBA program for the role of heads of police departments are analyzed: the theory of servant leadership, the theory of situational leadership, the theory of managerial economics, PESTEL analysis, and the theory of human relations. As a conceptual inquiry, this article lays the groundwork for continued research in this area to explore the MBA and its content courses as a useful tool for developing the skills and abilities of law enforcement leaders.","PeriodicalId":488745,"journal":{"name":"Socioeconomic challenges","volume":"47 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140755266","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}

{"title":"China-ASEAN Economic Ties: Balancing Growth amid Middle-Income Challenges and Opportunities","authors":"Harada Masatoshi","doi":"10.61093/sec.8(1).31-51.2024","DOIUrl":"https://doi.org/10.61093/sec.8(1).31-51.2024","url":null,"abstract":"The introduction of a free trade area between the Association of Southeast Asian Nations (ASEAN) and China (ACFTA) in 2012 brought China to a leading economic position in Southeast Asia (this was manifested in a significant, almost 2.2-fold, increase in the volume of trade) and turned it into a driving force of ASEAN’s economic prosperity. However, this increased economic interdependence creates challenges for both China and ASEAN: on the one hand, China seeks to make the transition from a high-income country to sustainable economic development in the ASEAN region, and on the other hand, ASEAN has concerns about excessive economic dependence on China. This situation requires a balance to be struck to avoid repeating the historical patterns seen in Japan in the 1960s and 1980s. This article examines the investment, trade and geopolitical relations between China and ASEAN in a historical retrospective of 2010-2022, assesses their economic dependence and the mechanisms of political-economic relations, identifies the factors that caused China’s rapid economic breakthrough, and outlines directions for overcoming the most modern challenges that have place in the context of this relationship through formulation of suggested frameworks. The article considers 2 research questions, for the solution of which the G/T (Grounded Theory) approach was used and a qualitative analysis of the 12 most relevant sources was carried out (limitation of their number – according to the concept of theoretical saturation), selected primarily through online databases, websites, international organizations’ data, analytical reviews, and scientific papers. RQ1: Identify the root causes of the problems faced by ASEAN middle-income countries in their engagement with China. The article identifies the following 3 main reasons through the empirical review analysis: 1) dependence of middle-income ASEAN countries on financial assistance, especially from China; 2) a noticeable decrease in unity in the ASEAN region; 3) China’s lack of recommendations on the advisory policy of economic development in the ASEAN countries. RQ2: development of recommendations for middle-income ASEAN countries to increase their ability to pave independent paths to sustainable economic development and reduce their economic dependence on China, taking into account the review of the balance of power in political relations with the United States and China. Using the qualitative analysis tool ATLAS.ti (version 24) for the G/T approach, it was concluded that to overcome the syndromes of lower-middle-income trap (LMIT) and higher-middle-income trap (HMIT), ASEAN economies should implement the following spontaneous strategies: infrastructure development, improvement of basic education and promotion of science and technology. In addition, it is important to raise awareness of political tensions between China and the US, apply the techniques of thoughtful diplomacy, fine-tuned policy formulation, and shared vision to","PeriodicalId":488745,"journal":{"name":"Socioeconomic challenges","volume":"559 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140751080","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}

{"title":"The Influence of Regional Socioeconomic Features On the Distribution of Financial Resources For Higher Education","authors":"Yang Yu, Xinxin Wang, Li Ruoxi, Tingting Yin","doi":"10.61093/sec.8(1).269-285.2024","DOIUrl":"https://doi.org/10.61093/sec.8(1).269-285.2024","url":null,"abstract":"The article is devoted to solving the problem of “budgetary financial adequacy of higher education” in China through a fairer, uniform, and sufficient distribution of financial costs for higher education among the provinces of this country, considering significant differences in the natural, economic, and social conditions of development in various regions. Currently, in China, the calculation of standard financial costs for the education sector is carried out according to the legal requirements of the Budget Department of the Ministry of Finance, taking into account the number of people studying at the corresponding level of education, the cost norm for this level of education, and the deviation coefficient. Instead, this article proposes a more comprehensive and rational approach that considers regional differences in the cost of living and the financial burden on higher education institutions, increasing the government’s responsibility for supporting a balanced distribution of financial resources for higher education. To take into account regional differences, it is proposed to use a system of indices for the difference in the costs of regional development, which includes three main categories of indicators: natural factors (the complexity of the terrain and the share of the area planted with forests), economic factors (the index of prices for raw materials, GDP per capita, freight traffic, and the total duration of operation of urban public transport), and social factors (population density in municipal areas, number of graduates of general education colleges and universities). To determine the fair size of budgetary expenditures on higher education, it is proposed to make adjustments to the index of differentiation of regional development expenditures, which combines these indicators using the geometric regression average benchmark method (without including a constant term). A higher value of this index means that the region needs more resources to achieve the same level of development as another region, so the standard budget expenditures for higher education should be higher for it. For all provinces in China, the coefficient of financial adequacy of higher education was calculated as the ratio between the standard financial costs of higher education (calculated according to the proposals outlined in this article) and the actual costs incurred. It is proposed that this coefficient be used as a basis for optimizing their distribution. The article emphasises the need to form a strategy for financing higher education in China, which should be based on a dynamic permanent adjustment of the amount of allocated financial resources depending on changes in the regional social and economic conditions of development of each province, an effective institutional mechanism that would allow adapting this strategy to endogenous and endogenous changes in China’s economy, optimisation of horizontal transfer payments and partnership assistance programs, and","PeriodicalId":488745,"journal":{"name":"Socioeconomic challenges","volume":"45 15","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140755458","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}