The influence of political factors on economic growth: A study of the interconnection between governance spheres in a global context

This article explores specific cases how policy decisions at different administrative levels interact with economic dynamics at the national and regional levels. The purpose is to study the interaction between global political factors and economic progress and to create a model that illustrates the interaction between political and economic development factors. The study focuses on the interaction between political factors and economic development and explores how the field of management affects economic progress in today’s world. First, a comprehensive review of academic sources, publications, reports, and statistics is conducted to understand the impact of different political systems on the climate of investment and economic growth. Empirical research involves analysing statistics on the attractiveness of foreign investment under different political conditions and identifying relationships. Case studies examine how policy decisions that consider technological advances affect market regulation and economic structure changes. Correlation regression methods examine the relationship between political changes and international trade relations. The role of political factors in innovation and scientific research is analysed using comparative analysis and synthesis methods. Statistical methods are also employed to examine hypotheses concerning how political factors affect economic progress and to validate the significance of the model developed. A strategic planning methodology is applied to devise management strategies for political and economic development interplay. Incorporating these comprehensive approaches facilitates a systematic examination of how political factors influence economic development, establishing the groundwork for devising effective management strategies. The research ultimately revealed a critical revelation: political factors play a vital role in economic progress, shaping the investment environment, maintaining macroeconomic stability, providing human capital resources, promoting infrastructure development, and creating efficient institutional framework conditions. Effective policies that promote economic growth can bring prosperity and improve citizens’ living standards, highlighting the vital link between policy decisions and economic outcomes.