Search results for: Ethiopian economy
2243 Adopting a Stakeholder Perspective to Profile Successful Sustainable Circular Business Approaches: A Single Case Study
Authors: Charleen von Kolpinski, Karina Cagarman, Alina Blaute
Abstract:
The circular economy concept is often framed by politicians, scientists and practitioners as being the solution to sustainability problems of our times. However, the focus of these discussions and publications is very often set on environmental and economic aspects. In contrast, the social dimension of sustainability has been neglected and only a few recent and mostly conceptual studies targeted the inclusion of social aspects and the SDGs into circular economy research. All stakeholders of this new circular system have to be included to represent a truly sustainable solution to all the environmental, economic and social challenges caused by the linear economic system. Hence, this empirical research aims to analyse, next to the environmental and economic dimension, also explicitly the social dimension of a sustainable circular business model. This inductive and explorative approach applies the single case study method. A multi-stakeholder view is adopted to shed light on social aspects of the circular business model. Different stakeholder views, tensions between stakeholders and conflicts of interest are detected. In semi-structured interviews with different stakeholders of the company, this study compares the different stakeholder views to profile the success factors of its business model in terms of sustainability implementation and to detect its shortcomings. These findings result in the development of propositions which cover different social aspects of sustainable circular business model implementation. This study is an answer to calls for future empirical research about the social dimension of the circular economy and contributes to sustainable business model thinking in entrepreneurial contexts of the circular economy. It helps identifying all relevant stakeholders and their needs to successfully and inclusively implement a sustainable circular business model. The method of a single case study has some limitations by nature as it only covers one enterprise with its special business model. Therefore, more empirical studies are needed to research sustainable circular business models from multiple stakeholder perspectives, in different countries and industries. Future research can build upon the developed propositions of this study and develop hypotheses to be tested.Keywords: circular economy, single case study, social dimension, sustainable circular business model
Procedia PDF Downloads 1442242 Evolution of Economic Urban Spaces: Barcelona's Trafalgar Garment District, 1940-2017
Authors: Rafael Vicente Salar
Abstract:
Cities are steadily transforming their productive systems based on value-adding strategies, with the aim of becoming more competitive in a globalized economy. This fact is reflected in inner urban spaces which are increasingly accommodating new economic activities related to knowledge, culture, creativity, and tourism, to the detriment of traditional activities. This is the case of the Trafalgar Garment District (TGD), located in Barcelona´s Eixample Dret neighborhood, an economic urban space historically devoted to the garment wholesale trade. This district is currently experiencing the transformation of its traditional economic specialization. In the last 50 years, external and internal factors have caused, firstly, the disintegration of the Catalonian garment regional cluster. This has resulted in the closure of the majority of metropolitan garment workshops. Secondly, this has also caused either the disappearance of wholesale firms or their relocation to more suitable spaces in the metropolitan area. Specifically, the TGD's economic restructuration is related to the attraction of firms related to the lodging industry and the new economy. In addition, some of the wholesale businesses are adopting new management strategies in order to remain in the TGD. These initiatives are thought to allow them, on one hand, to upgrade their products and, on the other, to reconfigure their internal organization in order to be more competitive.Keywords: Barcelona, garment district, new economy, tourism, garmen wholesale trade
Procedia PDF Downloads 1862241 Industrial Policy Directions in Georgia
Authors: Nino Grigolaia
Abstract:
Introduction - The paper discusses the role of industrial policy in the development of the economy in the country. The main challenges on the way to the implementation of industrial policy are analyzed: the long-term period of industrial policy, the risk of changes in priorities, the limited scope and external shocks. Methodology - Various research methods are used in the paper. The methods of induction, deduction, analysis, synthesis, analogy, correlation and statistical observation are used. Main Findings - Based on the analysis of the current situation in Georgia, the obstacles to the country's industrialization and its supporting factors are identified. Also, the challenges of the country's core industrial policies are revealed. Specific industry development strategies, ways of state support and main directions of new industrial policies are identified. Conclusion - The paper concludes that the development of the industrial sector is critical for the future growth and development of the Georgian economy, which will accelerate the industrialization and structural transformation processes, reduce the trade deficit, increase the exports and create more jobs in the country. The listed changes will guarantee the improvement of the socio-economic situation of the population. Accordingly, it is revealed that the study of industrial policy in Georgia is still actual. Based on the analysis, relevant conclusions in the field of industrialization of the country are developed and recommendations are proposed.Keywords: industrialization , industrial policy, industrialization of the economy, Georgia priorities
Procedia PDF Downloads 1632240 An Empirical Investigation of Montesquieu’s Theories on Climate
Authors: Lisa J. Piergallini
Abstract:
This project uses panel regression analyses to investigate the relationships between geography, institutions, and economic development, as guided by the theories of the 18th century French philosopher Montesquieu. Contemporary scholars of political economy perpetually misinterpret Montesquieu’s theories on climate, and in doing so they miss what could be the key to resolving the geography vs. institutions debate. There is a conspicuous gap in this literature, in that it does not consider whether geography and institutors might have an interactive, dynamic effect on economic development. This project seeks to bridge that gap. Data are used for all available countries over the years 1980-2013. Two interaction terms between geographic and institutional variables are employed within the empirical analyses, and these offer a unique contribution to the ongoing geography vs. institutions debate within the political economy literature. This study finds that there is indeed an interactive effect between geography and institutions, and that this interaction has a statistically significant effect on economic development. Democracy (as measured by Polity score) and rule of law and property rights (as measured by the Fraser index) have positive effects on economic development (as measured by GDP per capita), yet the magnitude of these effects are stronger in contexts where a low percent of the national population lives in the geographical tropics. This has implications for promoting economic development, and it highlights the importance of understanding geographical context.Keywords: Montesquieu, institutions, geography, economic development, political philosophy, political economy
Procedia PDF Downloads 2342239 Sustainable Design through up-Cycling Crafts in the Mainstream Fashion Industry of India
Authors: Avani Chhajlani
Abstract:
Fashion is considered to be the most destructive industry, second only to the oil rigging industry, which has a greater impact on the environment. While fashion today banks upon fast fashion to generate a higher turnover of designs and patterns in apparel and related accessories, crafts push us towards a more slow and thoughtful approach with culturally identifiably unique work and slow community-centered production. Despite this strong link between indigenous crafts and sustainability, it has not been extensively researched and explored upon. In the forthcoming years, the fashion industry will have to reinvent itself to move towards a more holistic and sustainable circular model to balance the harm already caused. And closed loops of the circular economy will help the integration of indigenous craft knowledge, which is regenerative. Though sustainability and crafts of a region go hand-in-hand, the craft still have to find its standing in the mainstream fashion world; craft practices have a strong local congruence and knowledge that has been passed down generation-to-generation through oration or written materials. This paper aims to explore ways a circular economy can be created by amalgamating fashion and craft while creating a sustainable business model and how this is slowly being created today through brands like – RaasLeela, Pero, and KaSha, to name a few.Keywords: circular economy, fashion, India, indigenous crafts, slow fashion, sustainability, up-cycling
Procedia PDF Downloads 1592238 Relationship between Creative Market Actor and Traditional Market Vendor toward a Sustainable Market Model in Jakarta, Indonesia
Authors: Galuh Pramesti
Abstract:
In Indonesia, the rise of the middle class and consumer purchasing power has created a trend of shifting the traditional into a modern retail market. Development of the creative economy as an impact of the global economy has invaded the traditional market, due to low rents and minimum innovation, raising the issue of sustainability and urban resilience for survival of the traditional market. The study aims to understand the current market conditions by examining the challenges, resiliency, and identify the relationship between the traditional market and creative market. Using a single-case study approach as the research methodology, Santa Market has been chosen as the case study. It is a pilot project of collaboration between a traditional market and creative economy in Jakarta, Indonesia. The research was conducted as a qualitative study through in-depth interviews with the market vendors and the market management, besides a desk-based study of the leasing data and spatial analysis. The findings indicate traffic fluctuation as the main challenge. It is related to the tenant’s presence, rental fluctuation, gentrification, infrastructure, and market competition. Thus, the findings on resilience show a different response for creative and traditional markets. The traditional market’s response remained stable with minimum innovation, whereas the creative market relies on technological development. Regarding the relationship, supply and demand have become the main relationship occurring in Santa Market. It is then developed into the context of society and regulation. The conclusion provides recommendations for more solid regulation to protect the market tenants from stakeholder interests that can disrupt market viability, and a critical discussion on the concept of collaboration between traditional and creative markets. There is also a suggestion for further study on relation with the surroundings, to create a holistic study on how the collaboration can work well in the traditional market.Keywords: creative economy, market sustainability, traditional market, urban resilience
Procedia PDF Downloads 1672237 The Dao of Political Economy - A Holistic Perspective
Authors: Tao Peng
Abstract:
This paper presents a holistic model of political economy based on Daoism – the foundational philosophy of classical Chinese epistemology. Daoism is both comprehensive and subtle in its manifestations and applications in all aspects of nature and society. Based on Daoist creation theory of the universe, life theory and five element functioning theory, a holistic model in economics with minimal assumptions and independent of ideology are constructed. Under this framework, different schools of economics, such as neo-liberal, Marxism, and Austrian school, are explored and shed new light on. Economic and financial predictions can be realized in applications to Qi Men Dun Jia. This framework can provide guidelines and inspirations to economic modelling, economic policies formulation and strategy development and guide society towards a more sustainable future.Keywords: daoism, economics, holistic, philosophy
Procedia PDF Downloads 502236 Evaluation of Nutrient Intake, Body Weight Gain and Carcass Characteristics of Growing Washera Lamb Fed Grass Hay as a Basal Diet with Supplementation of Dried Atella and Niger Seed Cake in Different Combinations
Authors: Fana Woldetsadik
Abstract:
Ethiopia has a huge livestock population, including sheep, that has been contributing a considerable portion to the economy of the country and still promising to rally around the economic advancement of the country. However, feed shortage is a limiting factor in the production and productivity of sheep among Ethiopian smallholder farmers. Therefore, the aim of this study was to prove the role of the locally available brewery by-products called dried Atella as a supplement in feed intake, digestibility, live weight gain, carcass yield, and economic benefit in comparison with commercially purchased supplements known as niger seed cake (NSC). This on-station feeding experiment was conducted on the Zenzelma Campus of Bahir Dar University animal farm. The experimental design used for this research was a completely randomized design (CRD) with five replications. The crude protein (CP) content of dried Atella, wheat bran (WB), natural pasture hay (NPH) and NSC were about 25.07%, 16.57%, 4.48% and 38.04%, respectively, while the neutral detergent fibre (NDF),acid detergent fibre (ADF) and acid detergent lignin (ADL) content of dried Atella, WB, NPH and NSC were around 31.75%, 8.31%, 8.14%; 42.05%, 22.64%, 4.04%; 74.21%, 50.81%, 8.66%; 42.31%, 26.95% and 6.9%, respectively. The result depicted that a higher(P < 0.001) feed intake, nutrient intake, and digestibility for lambs supplemented with Atella than those supplemented with NSC. Furthermore, daily body weight gain and carcass characteristics were better (P < 0.05) for the sheep supplemented with dried Atella than NSC. On the other hand, in terms of profitability, although there was no substantial difference (P > 0.05) between T2 (animals fed NPH,NSC and WB) and T3 (animals fed NPH, Atella and WB), slightly better benefit was recorded in T3 groups. However, loss of money was recorded in T1 (animals fed NPH and WB). Hence, from the biological performance of lambs, it was concluded that Atella could be a potential supplementary feed for sheep fattening among smallholder farmers than NSC despite no profitability difference. Nevertheless, further investigation is recommended to examine the consequence of supplementation of NPH with NSC and NPH with Atella on fatty acid profile analysis, the physicochemical composition of meat, and meat composition.Keywords: Attela, Bahir Dar university, Carcass yield, digestibility, natural pasture hay, Niger seed cake, smallholder farmers, weight gain, Ethiopia
Procedia PDF Downloads 1202235 Structure and Power Struggle in Contemporary Nollywood: An Ethnographic Evaluation
Authors: Ezinne M. Igwe
Abstract:
Statements of facts have been made about Nollywood, a segment of the Nigerian film industry that has in recent times become phenomenal due largely to its quantity of production and specific production style. In the face of recent transformations reshaping the industry, matters have been arising which have not been given due academic attention from an industry player perspective. While re-addressing such issues like structure, policy and informality, this study benefits from a new perspective – that of a community member adopting participant observation to research into a familiar culture. With data drawn from an extensive ethnographic study of the industry, this paper examines these matters with an emphasis on structure and the industry’s overall political economy. Drawing from discourses on the new and old Nollywood labels and other current matters arising within the industry such as the MOPICON bill redraft, corporate financing and possibilities of regeneration, this paper examines structure and power struggle within Nollywood. These are championing regenerative processes that bring about formalization, professionalism and the quest for a transnational presence, which have only been superficially evaluated. Focused essentially on Nollywood’s political economy, this study critically analyses the transforming face of an informal industry, the consistent quest for structure, quality and standard, and issues of corporate sponsorship as possible trends of regeneration. It evaluates them as indicators of regeneration, questioning the possibilities of their sustenance in an industry experiencing increased interactions with the formal economy and an influx of young professionals. With findings that make sustained regeneration both certain (due to increased formal economy interaction) and uncertain (due to the dysfunctionality of the society and its political system), it concludes that the transforming face of the industry suggests impending gentrification of the industry.Keywords: formalisation, MOPICON, Nollywood, structure
Procedia PDF Downloads 2492234 Strategy for Energy Industry and Oil Complex of Russia
Authors: Young Sik Kim, Tae Kwon Ha
Abstract:
Russia was one of the world’s leading mineral- producing countries. In 2012, Russia was ranked among the world’s leading producers or was a leading regional producer of such mineral commodities as aluminum, arsenic, asbestos, bauxite, boron, cadmium, cement, coal, cobalt, copper, diamond, fluorspar, gold, iron ore, lime, magnesium compounds and metals, mica (flake, scrap, and sheet), natural gas, nickel, nitrogen, oil shale, palladium, peat, petroleum, phosphate, pig iron, platinum, potash, rhenium, silicon, steel, sulfur, titanium sponge, tungsten, and vanadium. Russia has large reserves of a variety of mineral resources and undoubtedly will continue to be one of the world’s leading mineral producers. Although the country’s economy is expected to grow in 2012, some problems are likely to remain. In 2011, the Russian economy returned to economic growth after the significant decline in 2010. According to some analysts, however, the recovery of 2011 did not appear sufficiently vigorous to carry the country’s strong economic growth into the next decade. Even in the sectors of the economy where the country is among the world leaders (ferrous metals, gas, petroleum), Russian industry has obsolete plants and equipment, a slow rate of innovation, and low labor productivity.Keywords: Russia, energy resources, economic growth, strategy, oil complex
Procedia PDF Downloads 5802233 Towards Achieving Energy Efficiency in Kazakhstan
Authors: Aigerim Uyzbayeva, Valeriya Tyo, Nurlan Ibrayev
Abstract:
Kazakhstan is currently one of the dynamically developing states in its region. The stable growth in all sectors of the economy leads to a corresponding increase in energy consumption. Thus, country consumes a significant amount of energy due to the high level of industralisation and the presence of energy-intensive manufacturing such as mining and metallurgy which in turn leads to low energy efficiency. With allowance for this the Government has set several priorities to adopt a transition of Republic of Kazakhstan to a “green economy”. This article provides an overview of Kazakhstan’s energy efficiency situation in for the period of 1991-2014. First, the dynamics of production and consumption of conventional energy resources are given. Second, the potential of renewable energy sources is summarised, followed by the description of GHG emissions trends in the country. Third, Kazakhstan’ national initiatives, policies and locally implemented projects in the field of energy efficiency are described.Keywords: energy efficiency in Kazakhstan, greenhouse gases, renewable energy, sustainable development
Procedia PDF Downloads 5612232 The Principle of Transparency as a Tool to Potentiate Gender-Based Approaches in the World Trade Organization
Authors: Desiree Llaguno Cerezo, Elizabeth Valdes-Miranda Fernandez
Abstract:
Women have a critical role in sustaining the economy and in the development of trade. However, such a role has long been invisible due to orthodox conceptions that have ignored the gender variable in commercial analyses. Today, it is generally accepted that neither the economy nor business are gender-neutral and that the performance of these activities often impact negatively the lives of women. Women’s participation in trade, on equal terms as men, in any of the various possible roles -producer, wage earner, consumer, merchant, taxpayer- will not only favour the lives of women but also the performance of the economies in which they participate. Transparency, as a principle of the multilateral trading system, can play a significant role as a strategy for the empowerment of women.Keywords: trade, human rights, gender equality, transparency, WTO, women workers, women's economic empowerment
Procedia PDF Downloads 1282231 Early Childhood Education in a Depressed Economy in Nigeria: Implication in the Classroom
Authors: Ogunnaiya Racheal Taiwo
Abstract:
Children's formative years are crucial to their growth; it is, therefore, necessary for all the stakeholders to ensure that the pupils have an enabling quality of life which is essential for realizing their potential. For children to live and grow, they need a secure home, nutritious food, good health care, and quality education. This paper, therefore, investigates the implications of a depressed economy on the classroom learning of Nigerian children as it is clear that Nigeria is currently experiencing the worst economic depression in several decades, which affects a substantial proportion of children. The study is qualitative research, and it adopts a phenomenological approach where the experiences of respondents are examined qualitatively. Three senatorial districts in Oyo State were considered, and 50 teachers, both male, and female were chosen from each senatorial district for an interview through conversational key informants' interviews. The interviewees were recorded, transcribed, and presented using thematic analysis. Findings showed that more children have dropped out since the beginning of the year than in previous years. It was also recorded that learning has become challenging as children now find it harder to acquire learning materials. It was recommended that the government should reimburse early childhood schools to lessen the effect of the inability to purchase materials and pay school fees. It was also recommended that an intervention be made to approach and resolve issues associated with out-of-school children.Keywords: childhood, classroom, education, depressed economy, poverty
Procedia PDF Downloads 772230 Consumer Welfare in the Platform Economy
Authors: Prama Mukhopadhyay
Abstract:
Starting from transport to food, today’s world platform economy and digital markets have taken over almost every sphere of consumers’ lives. Sellers and buyers are getting connected through platforms, which is acting as an intermediary. It has made consumer’s life easier in terms of time, price, choice and other factors. Having said that, there are several concerns regarding platforms. There are competition law concerns like unfair pricing, deep discounting by the platforms which affect the consumer welfare. Apart from that, the biggest problem is lack of transparency with respect to the business models, how it operates, price calculation, etc. In most of the cases, consumers are unaware of how their personal data are being used. In most of the cases, they are unaware of how algorithm uses their personal data to determine the price of the product or even to show the relevant products using their previous searches. Using personal or non-personal data without consumer’s consent is a huge legal concern. In addition to this, another major issue lies with the question of liability. If a dispute arises, who will be responsible? The seller or the platform? For example, if someone ordered food through a food delivery app and the food was bad, in this situation who will be liable: the restaurant or the food delivery platform? In this paper, the researcher tries to examine the legal concern related to platform economy from the consumer protection and consumer welfare perspectives. The paper analyses the cases from different jurisdictions and approach taken by the judiciaries. The author compares the existing legislation of EU, US and other Asian Countries and tries to highlight the best practices.Keywords: competition, consumer, data, platform
Procedia PDF Downloads 1162229 Macroeconomic Effects and Dynamics of Natural Disaster Damages: Evidence from SETX on the Resiliency Hypothesis
Authors: Agim Kukelii, Gevorg Sargsyan
Abstract:
This study, focusing on the base regional area (county level), estimates the effect of natural disaster damages on aggregate personal income, aggregate wages, wages per worker, aggregate employment, and aggregate income transfer. The study further estimates the dynamics of personal income, employment, and wages under natural disaster shocks. Southeast Texas, located at the center of Golf Coast, is hit by meteorological and hydrological caused natural disasters yearly. On average, there are more than four natural disasters per year that cane an estimated damage average of 2.2% of real personal income. The study uses the panel data method to estimate the average effect of natural disasters on the area’s economy (personal income, wages, employment, and income transfer). It also uses Panel Vector Autoregressive (PVAR) model to study the dynamics of macroeconomic variables under natural disaster shocks. The study finds that the average effect of natural disasters is positive for personal income and income transfer and is negative for wages and employment. The PVAR and the impulse response function estimates reveal that natural disaster shocks cause a decrease in personal income, employment, and wages. However, the economy’s variables bounce back after three years. The novelty of this study rests on several aspects. First, this is the first study to investigate the effects of natural disasters on macroeconomic variables at a regional level. Second, the study uses direct measures of natural disaster damages. Third, the study estimates that the time that the local economy takes to absorb the natural disaster damages shocks is three years. This is a relatively good reaction to the local economy, therefore, adding to the “resiliency” hypothesis. The study has several implications for policymakers, businesses, and households. First, this study serves to increase the awareness of local stakeholders that natural disaster damages do worsen, macroeconomic variables, such as personal income, employment, and wages beyond the immediate damages to residential and commercial properties, physical infrastructure, and discomfort in daily lives. Second, the study estimates that these effects linger on the economy on average for three years, which would require policymakers to factor in the time area need to be on focus.Keywords: natural disaster damages, macroeconomics effects, PVAR, panel data
Procedia PDF Downloads 682228 Contribution of the Corn Milling Industry to a Global and Circular Economy
Authors: A. B. Moldes, X. Vecino, L. Rodriguez-López, J. M. Dominguez, J. M. Cruz
Abstract:
The concept of the circular economy is focus on the importance of providing goods and services sustainably. Thus, in a future it will be necessary to respond to the environmental contamination and to the use of renewables substrates by moving to a more restorative economic system that drives towards the utilization and revalorization of residues to obtain valuable products. During its evolution our industrial economy has hardly moved through one major characteristic, established in the early days of industrialization, based on a linear model of resource consumption. However, this industrial consumption system will not be maintained during long time. On the other hand, there are many industries, like the corn milling industry, that although does not consume high amount of non renewable substrates, they produce valuable streams that treated accurately, they could provide additional, economical and environmental, benefits by the extraction of interesting commercial renewable products, that can replace some of the substances obtained by chemical synthesis, using non renewable substrates. From this point of view, the use of streams from corn milling industry to obtain surface-active compounds will decrease the utilization of non-renewables sources for obtaining this kind of compounds, contributing to a circular and global economy. However, the success of the circular economy depends on the interest of the industrial sectors in the revalorization of their streams by developing relevant and new business models. Thus, it is necessary to invest in the research of new alternatives that reduce the consumption of non-renewable substrates. In this study is proposed the utilization of a corn milling industry stream to obtain an extract with surfactant capacity. Once the biosurfactant is extracted, the corn milling stream can be commercialized as nutritional media in biotechnological process or as animal feed supplement. Usually this stream is combined with other ingredients obtaining a product namely corn gluten feed or may be sold separately as a liquid protein source for beef and dairy feeding, or as a nutritional pellet binder. Following the productive scheme proposed in this work, the corn milling industry will obtain a biosurfactant extract that could be incorporated in its productive process replacing those chemical detergents, used in some point of its productive chain, or it could be commercialized as a new product of the corn manufacture. The biosurfactants obtained from corn milling industry could replace the chemical surfactants in many formulations, and uses, and it supposes an example of the potential that many industrial streams could offer for obtaining valuable products when they are manage properly.Keywords: biosurfactantes, circular economy, corn, sustainability
Procedia PDF Downloads 2362227 The Role of Health Tourism in Enhancing the Quality of life and Cultural Transmission in Developing Countries
Authors: Fatemeh Noughani, Seyd Mehdi Sadat
Abstract:
Medical tourism or travel therapy is travelling from one country to another to be under medical treatment, utilizing the health factors of natural sector like mineral water springs and so on. From 1990s medical tourism around the world developed and grew because of different factors like globalization and free trade in the fields of health services, changes in exchange rates in the world economy (which caused the desirability of Asian countries as a medical tourist attraction) in a way that currently there is a close competition in this field among famous countries in medical services to make them find a desirable place in medical tourism market of the world as a complicated and growing industry in a short time. Perhaps tourism is an attractive industry and a good support for the economy of Iran, if we try to merge oil earnings and tourism industry it would be better and more constructive than putting them in front of each other. Moving from oil toward tourism economy especially medical tourism, must be one of the prospects of Iran's government for the oil industry to provide a few percent of the yearly earnings of the country. Among the achievements in medical tourism we can name the prevention of brain drain to other countries and an increase in employment rate for healthcare staff, increase in foreign exchange earnings of the country because of the tourists' staying and followed by increasing the quality of life and cultural transmission as well as empowering the medical human resources.Keywords: developing countries, health tourism, quality of life, cultural transmission
Procedia PDF Downloads 4102226 Oil and Development: The Case of Kuwait
Authors: Abdulaziz Abdulrahman Albahar
Abstract:
This paper aims to answer the question of: is oil as a natural resource with all the wealth that it brings an economic burden? And how can resource curse be mitigated in such oil dependent nations? The case of Kuwait will be used as an example. The paper begins with an introduction of the resource curse and the Kuwaiti economy in general. Then there is an attempt to see that does the curse exist in the case for Kuwait. Furthermore, in the analysis section, an exploration on how the economy is dependent on oil and how oil is more of a burden if there is mismanagement is conducted. Later on, in answering on how to mitigate the problem of a resource curse, the case of Norway is explored. In concluding the paper, the results do show that oil rentals affects the Kuwaiti economy via 2 main channels, these are government spending that are mainly financed via oil rentals and exportation of oil based products. The surprising result was that government spending had a negative impact on GDP (gross domestic product) growth when oil rentals where instrumented on government expenditure, this is due to the issue of rent seeking in which government spending in Kuwait is financing things such as stimulus packages and raising the nominal wages. Yet, when comparing the magnitude of both oil exportation and government spending, the latter has a stronger effect on the GDP (gross domestic product) growth than the former. A resource curse doesn’t seem to exist in the case of Kuwait however, the characteristics of a curse do show in the form of rent seeking in the political sphere, the disruption of the traditional sectors like that of pearl trade and fishing markets. Yet, a curse doesn’t show due to the fact that the currency of the nation is very stable and hasn’t experienced any appreciation because of the fixed exchange rate system. Moreover, even if we can’t say that a curse exists, it is clear to see that the Kuwaiti economy is heading towards one. Whether or not it faces a resource curse will be based on how judicious the nation will be in exploiting their sovereign wealth fund and implementing diversification strategies to be less oil dependent like the vision “New Kuwait-2035” which has been underway since 2017.Keywords: economic development, Kuwait, oil curse, dutch disease
Procedia PDF Downloads 512225 Tourism Satellite Account: Approach and Information System Development
Authors: Pappas Theodoros, Mihail Diakomihalis
Abstract:
Measuring the economic impact of tourism in a benchmark economy is a global concern, with previous measurements being partial and not fully integrated. Tourism is a phenomenon that requires individual consumption of visitors and which should be observed and measured to reveal, thus, the overall contribution of tourism to an economy. The Tourism Satellite Account (TSA) is a critical tool for assessing the annual growth of tourism, providing reliable measurements. This article introduces a system of TSA information that encompasses all the works of the TSA, including input, storage, management, and analysis of data, as well as additional future functions and enhances the efficiency of tourism data management and TSA collection utility. The methodology and results presented offer insights into the development and implementation of TSA.Keywords: tourism satellite account, information system, data-based tourist account, relation database
Procedia PDF Downloads 502224 Study of the Economic Development of Border Areas Malinau District
Authors: Indri Nilam Sari, Aris Subagiyo, Nindya Sari
Abstract:
Malinau Regency border area is an area which is based on the RTRWN and the development priority. But, in real border area Malinau Regency placed as backyard from Indonesian area and caused development lag that is fairly large compared by town area in Malinau Regency. This research aimed to know the condition of the gap in the Malinau Regency border and its influence on the development of the border region as well as knowing the problems related to the economy development of society in the area of the border district of Malinau. Methods of analysis are used in namely descriptive analysis that represent analysis of land use and analysis of movement activities of the population, level analysis facility and infrastructure, economy analysis that represent top commodity determination analysis (LQ and Growth Share) and accessibility. The results of the study showed that the condition of the Malinau Regency border come within the gap as seen from the contributions of infrastructure repair facilities and accessibility advocates, communities, scattered seed commodities come within the borders and human resources with the condition of the most Upstream Bahau town in the backwaters of the town more. There are a few problems that cause the condition area of the border experiencing inequality, lack of human resources, poor infrastructure, lack of accessibility and low levels of security so that it brings development recommendations was the development of the flagship commodities and infrastructure as well as supporting community economic infrastructure, as well as human resources.Keywords: border, economy, development, Malinau
Procedia PDF Downloads 4292223 Complexity Leadership and Knowledge Management in Higher Education
Authors: Prabhakar Venugopal G.
Abstract:
Complex environments triggered by globalization have necessitated new paradigms of leadership – complexity leadership that encompasses multiple roles that leaders need to take upon. The success of higher education institutions depends on how well leaders can provide adaptive, administrative and enabling leadership. Complexity leadership seems all the more relevant for institutions that are knowledge-driven and thrive on knowledge creation, knowledge storage and retrieval, knowledge sharing and knowledge applications. In this paper are the elements of globalization, the opportunities and challenges that are brought forth by globalization are discussed. The complexity leadership paradigm in a knowledge-based economy and the need for such a paradigm shift for higher education institutions is presented. Further, the paper also discusses the support the leader requires in a knowledge-driven economy through knowledge management initiatives.Keywords: globalization, complexity leadership, knowledge management
Procedia PDF Downloads 4642222 A Study of Industrial Symbiosis and Implementation of Indigenous Circular Economy Technique on an Indian Industrial Area
Authors: A. Gokulram
Abstract:
Industrial waste is often categorized as commercial and non-commercial waste by market value. In many Indian industries and other industrialized countries, the commercial value waste is capitalized and non-commercial waste is dumped to landfill. A lack of adequate research on industrial waste leads to the failure of effective resource management and the non-commercial waste are being considered as commercially non-viable residues. The term Industrial symbiosis refers to the direct inter-firm reuse or exchange of material and energy resource. The resource efficiency of commercial waste is mainly followed by an informal symbiosis in our research area. Some Industrial residues are reused within the facility where they are generated, others are reused directly nearby industrial facilities and some are recycled via the formal and informal market. The act of using industrial waste as a resource for another product faces challenges in India. This research study has observed a major negligence of trust and communication among several bodies to implement effective circular economy in India. This study applies interviewing process across researchers, government bodies, industrialist and designers to understand the challenges of circular economy in India. The study area encompasses an industrial estate in Ahmedabad in the state of Gujarat which comprises of 1200 industries. The research study primarily focuses on making industrial waste as commercial ready resource and implementing Indigenous sustainable practice in modern context to improve resource efficiency. This study attempted to initiate waste exchange platform among several industrialist and used varied methodologies from mail questionnaire to telephone survey. This study makes key suggestions to policy change and sustainable finance to improve circular economy in India.Keywords: effective resource management, environmental policy, indigenous technique, industrial symbiosis, sustainable finance
Procedia PDF Downloads 1162221 Campaigns of Youth Empowerment and Unemployment In Development Discourses: In the Case of Ethiopia
Abstract:
In today’s high decrement figure of the global economy, nations are facing many economic, social and political challenges; universally, there is high distress of food and other survival insecurity. Further, as a result of conflict, natural disasters, and leadership influences, youths are existentially less empowered and unemployed, especially in developing countries. With this situation to handle well challenges, it’s important to search, investigate and deliberate about youth, unemployment, empowerment and possible management fashions, as youths have the potential to carry and fight such battles. The method adopted is a qualitative analysis of secondary data sources in youth empowerment, unemployment and development as an inclusive framework. Youth unemployment is a major development headache for most African countries. In Ethiopia, following weak youth empowerment, youth unemployment has increased from time to time, and quality education and organization linkage matter as an important constraint. As a management challenge, although accessibility of quality education for Ethiopian youths is an important constraint, the country's youths are fortified deceptively and harassed in a vicious political challenge in their struggle to fetch social and economic changes in the country. Further, thousands of youths are inactivated, criminalized and lost their lives and this makes youths hopeless anger in their lives and pushes them further to be exposed for addictions, prostitution, violence, and illegitimate migrations. This youth challenge wasn’t only destined for African countries; rather, indeed, it was a global burden and headed as a global agenda. As a resolution, the construction of a healthy education system can create independent youths who acquire success and accelerate development. Developing countries should ensue development in the cultivation of empowerment tools through long and short-term education, implementing policy in action, diminishing wide-ranging gaps of (religion, ethnicity & region), and take high youth population as an opportunity and empower them. Further managing and empowering youths to be involved in decision-making, giving political weight and building a network of organizations to easily access job opportunities are important suggestions to save youths in work, for both increasing their income and the country's food security balance.Keywords: development, Ethiopia, management, unemployment, youth empowerment
Procedia PDF Downloads 332220 Food Sharing App and the Ubuntu Ssharing Economy: Accessing the Impact of Technology of Food Waste Reduction
Authors: Gabriel Sunday Ayayia
Abstract:
Food waste remains a critical global challenge with significant environmental, economic, and ethical implications. In an era where food waste and food insecurity coexist, innovative technology-driven solutions have emerged, aiming to bridge the gap between surplus food and those in need. Simultaneously, disparities in food access persist, exacerbating issues of hunger and malnutrition. Emerging food-sharing apps offer a promising avenue to mitigate these problems but require further examination within the context of the Ubuntu sharing economy. This study seeks to understand the impact of food-sharing apps, guided by the principles of Ubuntu, on reducing food waste and enhancing food access. The study examines how specific food-sharing apps within the Ubuntu sharing economy could contribute to fostering community resilience and reducing food waste. Ubuntu underscores the idea that we are all responsible for the well-being of our community members. In the context of food waste, this means that individuals and businesses have a collective responsibility to ensure that surplus food is shared rather than wasted. Food-sharing apps align with this principle by facilitating the sharing of excess food with those in need, transforming waste into a communal resource. This research employs a mixed-methods approach of both quantitative analysis and qualitative inquiry. Large-scale surveys will be conducted to assess user behavior, attitudes, and experiences with food-sharing apps, focusing on the frequency of use, motivations, and perceived impacts. Qualitative interviews with app users, community organizers, and stakeholders will explore the Ubuntu-inspired aspects of food-sharing apps and their influence on reducing food waste and improving food access. Quantitative data will be analyzed using statistical techniques, while qualitative data will undergo thematic analysis to identify key patterns and insights. This research addresses a critical gap in the literature by examining the role of food-sharing apps in reducing food waste and enhancing food access, particularly within the Ubuntu sharing economy framework. Findings will offer valuable insights for policymakers, technology developers, and communities seeking to leverage technology to create a more just and sustainable food system.Keywords: sharing economy, food waste reduction, technology, community- based approach
Procedia PDF Downloads 472219 Health Expenditure and its Place in Economy: The Case of Turkey
Authors: Ayşe Coban, Orhan Coban, Haldun Soydal, Sükrü Sürücü
Abstract:
While health is a source of prosperity for individuals, it is also one of the most important determinants of economic growth for a country. Health, by increasing the productivity of labor, contributes to economic growth. Therefore, countries should give the necessary emphasis to health services. The primary aim of this study is to analyze the changes occurring in health services in Turkey by examining the developments in the sector. In this scope, the second aim of the study is to reveal the place of health expenditures in the Turkish economy. As a result of the analysis in the dataset, in which the 1999-2013 periods is considered, it was determined that some increase in health expenditures took place and that the increase in the share of health expenditures in GDP was too small. Furthermore, analysis of the results points out that in financing health expenditures, the public sector is prominent compared to the private sector.Keywords: health, health service, health expenditures, Turkey
Procedia PDF Downloads 3382218 The Role of Middle Class in Forming of Consumption Habits of Market Institutions among Kazakh Households in Transition Period
Authors: Daurenbek Kuleimenov, Elmira Otar
Abstract:
Market institutions extension within transit societies contributes to constituting the new type of middle class and households livelihood strategies. The middle class households as an example of prosperity in many cases encourage the ordinary ones to do the same economic actions. Therefore, practices of using market institutions by middle class households in transit societies, which are mostly characterized by huge influence of traditional attitudes, can carry habitual features for the whole society. Market institutions consumption habit of the middle class households makes them trendsetters of economic habits of other households while adapting to the market economy. Moreover different social-economic positions of households lead them to different consuming results such as worsening or improving household economy due to indebtedness.Keywords: middle class, households, market institutions, transition
Procedia PDF Downloads 3392217 Leadership in the Era of AI: Growing Organizational Intelligence
Authors: Mark Salisbury
Abstract:
The arrival of artificially intelligent avatars and the automation they bring is worrying many of us, not only for our livelihood but for the jobs that may be lost to our kids. We worry about what our place will be as human beings in this new economy where much of it will be conducted online in the metaverse – in a network of 3D virtual worlds – working with intelligent machines. The Future of Leadership was written to address these fears and show what our place will be – the right place – in this new economy of AI avatars, automation, and 3D virtual worlds. But to be successful in this new economy, our job will be to bring wisdom to our workplace and the marketplace. And we will use AI avatars and 3D virtual worlds to do it. However, this book is about more than AI and the avatars that we will work with in the metaverse. It’s about building Organizational intelligence (OI) -- the capability of an organization to comprehend and create knowledge relevant to its purpose; in other words, it is the intellectual capacity of the entire organization. To increase organizational intelligence requires a new kind of knowledge worker, a wisdom worker, that requires a new kind of leadership. This book begins your story for how to become a leader of wisdom workers and be successful in the emerging wisdom economy. After this presentation, conference participants will be able to do the following: Recognize the characteristics of the new generation of wisdom workers and how they differ from their predecessors. Recognize that new leadership methods and techniques are needed to lead this new generation of wisdom workers. Apply personal and professional values – personal integrity, belief in something larger than yourself, and keeping the best interest of others in mind – to improve your work performance and lead others. Exhibit an attitude of confidence, courage, and reciprocity of sharing knowledge to increase your productivity and influence others. Leverage artificial intelligence to accelerate your ability to learn, augment your decision-making, and influence others.Utilize new technologies to communicate with human colleagues and intelligent machines to develop better solutions more quickly.Keywords: metaverse, generative artificial intelligence, automation, leadership, organizational intelligence, wisdom worker
Procedia PDF Downloads 192216 Economic Assessment Methodology to Support Decisions for Transport Infrastructure Development
Authors: Dimitrios J. Dimitriou
Abstract:
The decades after the end of the second War provide evidence that infrastructures investments contibute to economic development, on terms of productivity and income growth. In order to force productivity and increase competitiveness the financing of large transport infrastructure projects are on the top of the agenda in strategic planning process. Such a decision may take form some days to some decades and stakeholders as well as decision makers need tools in order to estimate the economic impact on natioanl economy of such an investment. The key question in such decisions is if the effects caused by the new infrastructure could be able to boost economic development on one hand, and create new jobs and activities on the other. This paper deals with the review of estimation of the mega transport infrastructure projects economic effects in economy.Keywords: economic impact, transport infrastructure, strategic planning, decision making
Procedia PDF Downloads 2602215 Transition towards a Market Society: Commodification of Public Health in India and Pakistan
Authors: Mayank Mishra
Abstract:
Market Economy can be broadly defined as economic system where supply and demand regulate the economy and in which decisions pertaining to production, consumption, allocation of resources, price and competition are made by collective actions of individuals or organisations with limited government intervention. On the other hand Market Society is one where instead of the economy being embedded in social relations, social relations are embedded in the economy. A market economy becomes a market society when all of land, labour and capital are commodified. This transition also has effect on people’s attitude and values. Such a transition commence impacting the non-material aspect of life such as public education, public health and the like. The inception of neoliberal policies in non-market norms altered the nature of social goods like public health that raised the following questions. What impact would the transition to a market society make on people in terms of accessibility to public health? Is healthcare a commodity that can be subjected to a competitive market place? What kind of private investments are being made in public health and how do private investments alter the nature of a public good like healthcare? This research problem will employ empirical-analytical approach that includes deductive reasoning which will be using the existing concept of market economy and market society as a foundation for the analytical framework and the hypotheses to be examined. The research also intends to inculcate the naturalistic elements of qualitative methodology which refers to studying of real world situations as they unfold. The research will analyse the existing literature available on the subject. Concomitantly the research intends to access the primary literature which includes reports from the World Bank, World Health Organisation (WHO) and the different departments of respective ministries of the countries for the analysis. This paper endeavours to highlight how the issue of commodification of public health would lead to perpetual increase in its inaccessibility leading to stratification of healthcare services where one can avail the better services depending on the extent of one’s ability to pay. Since the fundamental maxim of private investments is to churn out profits, these kinds of trends would pose a detrimental effect on the society at large perpetuating the lacuna between the have and the have-nots.The increasing private investments, both, domestic and foreign, in public health sector are leading to increasing inaccessibility of public health services. Despite the increase in various public health schemes the quality and impact of government public health services are on a continuous decline.Keywords: commodity, India and Pakistan, market society, public health
Procedia PDF Downloads 2842214 Campaigns of Youth Empowerment and Unemployment in Development Discourses: Case of Ethiopia
Authors: Belay Mulat Fentie
Abstract:
In today’s high decrement figure of the global economy, nations are facing many economic, social, and political challenges; universally, there is high distress of food and other survival insecurity. Further, as a result of conflict, natural disaster, and leadership influences, youths are existentially less empowered and unemployed, especially in developing countries. With this situation to handle well challenges, it’s important to search, investigate and deliberate about youth, unemployment, empowerment, and possible management fashions, as youths has a potential to carry and fight such battles. The method adopted is qualitative analysis of secondary data sources in youth empowerment, unemployment, and development as inclusive framework. Youth unemployment is a major development headache for most African countries. In Ethiopia, following weak youth empowerment, youth unemployment has been increased time to time; and quality education and organizations linkage matters as an important constraint. As a management challenge, although accessibility of quality education for Ethiopian youths is an important constraint; the country youths fortified deceptively and harassed in a vicious political challenge in their struggle to fetch social and economic changes in the country. Further, thousands of youths inactivated, criminalized, and lost their lives, and this makes youths to be hopeless, anger in their lives and pushes further to expose for addictions, prostitution, violence, and illegitimate migrations. This youth challenge didn’t only destinate in African countries, rather, indeed, the global burden and headed as a global agenda. As a resolution, the construction of a healthy education system can create independent youths that acquire success and accelerate development. Developing countries should ensue development in cultivation of empowerment tool through long and short-term education, implementing policy in action, diminishing wide ranged gaps of (religion, ethnicity & region), and take the high youth population as an opportunity and empower them. And further manage and empower youths to involve in decision making, in giving political weight and build a network on organizations to easily access jobs opportunities are important suggestion to alive youths in work, for both increasing their income and country food security balance.Keywords: development, Ethiopia, management, unemployment, youth empowerment
Procedia PDF Downloads 93