Using a sample of 193 countries from 2010 to 2019, this study investigates the impact of institutional quality index (IQI) and information and communication technology (ICT) on inclusive growth. The study engaged the panel spatial correlation consistent (PSCC-FE), instrumental variable-generalized method of moments (IV-GMM), and simultaneous quantile regressions (SQREG) models to assess if the impact differs by economic development (high-, low-, lower-middle- and upper-middle-income countries). The following findings emerge. The effect of IQI is positive across all models from the full sample, while that of ICT is heterogeneous, with mobile phones having a significant positive impact. The interaction effect is observed to be sensitive to the choice of ICT indicator. From the sub-samples, both IQI, ICT and their interaction show significant heterogeneous effect with consistent positive (negative interaction) outcomes in high-income countries. Thus, our findings strongly suggest that policymakers should prioritize institutional quality and ICT to ensure that economic growth translates into better living conditions for people in other income groups.

The Sustainable Development Goals (SDGs) advocate for advancing green growth, a concept that balances economic prosperity with environmental protection. At the core of this vision are principles of sustainable consumption, production, and energy usage, all aimed at mitigating climate change and safeguarding ecosystems. This study investigates how technological innovation influences the relationship between Foreign Direct Investment (FDI) and green growth in OECD member countries. Specifically, we examine two facets of green growth: production-based CO₂ productivity and demand-based CO₂ productivity. We employ empirical analyses using the EKC and STIRPAT framework, which includes Ordinary Least Squares (OLS), smoothed instrumental-variables quantile regression (SIVQR), and System GMM methodologies, to uncover significant insights. Our analysis reveals that FDI impedes green growth, while technological innovation is pivotal in enhancing it. This pattern holds steady across various time frames and renewable energy sources. Furthermore, our findings indicate that combining FDI and technological advancement leads to heightened production-based CO₂ productivity but diminished demand-based CO₂ productivity. We also identify the presence of an environmental Kuznets curve for production-based CO₂ productivity. Adding to significant scientific value by demonstrating how technological innovation moderates FDI's impact on green growth in OECD countries, we advocate for fostering collaborative partnerships between foreign investors and local innovators to leverage global expertise while advancing green objectives. Additionally, policy interventions should focus on stimulating demand for eco-friendly products and services to bolster demand-based CO₂ productivity.

While technological innovation and financial development are broadly credited as important drivers of economic growth of developed nations, their impact on inequality (especially in emerging economies) remains understudied. Thus, the objective of this study is to investigate the impact of technological innovation and financial development on income inequality in BRICS (Brazil, Russia, India, China and South Africa) countries using panel dynamic ordinary least squares (PDOLS) and panel fully modified ordinary least squares (PFMOLS) with annual data sourced from the Standardized World Income Inequality Database, International Monetary Fund (IMF) and World Bank (1990–2017). The results suggest that technological innovation increases income inequality in the BRICS nations, while financial development has an income reducing effect on inequality. Our results are robust, using alternative estimation with various sub-indicators of financial development (such as financial markets and financial institution), including other measures proxied by access to credit provided by commercial banks. The study’s results have important implications for policy and practice in the BRICS countries. By providing a nuanced understanding of the relationship between technological innovation, financial development and inequality, the study will inform the design and implementation of policies aimed at reducing inequality and promoting inclusive growth in these emerging economies.

This paper investigates the determinants of access to formal credit by poor households in South Africa. Despite some progress in poverty reduction in the recent years, it remains astonishingly high by historical and international standards. Access to credit is believed by some scholars to be a primary means to address poverty and improve the standards of living of poor households. Thus, it is necessary to identify the determinants of the propensity to borrow and of the amount that is borrowed. Using 2008-2012 data from the National Income Dynamics Study (NIDS), a Heckman Selection model was estimated. The results from this study suggest that age of the household head, race, educational level, gender, employment, geographic location of households affect the propensity to borrow by poor households in South Africa.

This study examines the spatial impact of FDI on the poverty of 44 African countries. In achieving this, the study uses the Driscoll–Kraay fixed effect instrumental variable regression, the instrumental variable generalized method of moments estimator (IV-GMM), and the spatial Durbin model. The empirical investigation of this study yielded four significant findings: (1) neighboring countries’ FDIs have a positive and significant impact on the incidence and intensity of the host country’s poverty, (2) improved institutional quality in neighboring countries has a significant impact on the FDI–poverty reduction nexus of the host country, (3) the empirical results lend support for a significant spatial spillover of poverty in the region, (4) the marginal effect results indicate that countries within the region are no longer in isolation or independent, i.e., the level of poverty in a particular country is influenced by its determinants in the neighboring country. This result is robust to the alternative proximity matrix, which is the inverse distance. Since there is spatial interdependence among African countries, we recommend that African governments, through the African Union (AU), should not only champion the institutional reform in the region, but also establish a binding mechanism to ensure reform implementation.