Search results for: sufficient economy

Authors: Ayşe Coban, Orhan Coban, Haldun Soydal, Sükrü Sürücü

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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

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Authors: Daurenbek Kuleimenov, Elmira Otar

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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

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Authors: Mark Salisbury

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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

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Authors: Dimitrios J. Dimitriou

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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

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Authors: Mayank Mishra

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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

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Authors: Anar Koli

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After the Paris agreement in 2015, a comprehensive initiative both from the developed and developing countries towards the adaptation to climate change is emerging. The Global Environmental Facility (GEF), which is financing a global portfolio of adaptation projects and programs in over 124 countries is playing a significant role to a new financing framework that included the concept of “climate-resilient development”. However, both the adaptation and sustainable development paradigms remain continuously contested, especially the role of the multilateral institutions with their technical and financial assistance to the developing world. Focusing on the adaptation initiatives of the GEF, this study aims to understand to what extent the global multilateral institutions, particularly the GEF is contributing to the climate-resilient development. From the political ecology perspective, the argument of this study is that the global financial framework is highly politicized, and understanding the contribution of the global institutions of the global climate change needs to be related both from the response and causal perspectives. A holistic perspective, which includes the contribution of the GEF as a response to the climate change and as well the cause of global climate change, are needed to understand the broader environment- political economic relation. The study intends to make a critical analysis of the way in which the political economy structure and the environment are related along with the social and ecological implications. It does not provide a narrow description of institutional responses to climate change, rather it looks at how the global institutions are influencing the relationship of the global ecologies and economies. This study thus developed a framework combining the global governance and the political economy perspective. This framework includes environment-society relation, environment-political economy linkage, global institutions as the orchestra, and division between the North and the South. Through the analysis of the GEF as the orchestra of the global governance, this study helps to understand how GEF is coordinating the interactions between the North and the South and responding the global climate resilient development. Through the other components of the framework, the study explains how the role of the global institutions is related to the cause of the human induced global climate change. The study employs a case study based on both the quantitative and qualitative data. Along with the GEF reports and data sets, this study draws from an eclectic range of literature from a range of disciplines to explain the broader relation of the environment and political economy. Based on a case study on GEF, the study found that the GEF has positive contributions in bringing developing countries’ capacity in terms of sustainable development goal, local institutional development. However, through a critical holistic analysis, this study found that this contribution to the resilient development helps the developing countries to conform the fossil fuel based capitalist political economy. The global governance institution is contributing both to the pro market based environment society relation and, to the consequences of this relation.

Keywords: climate change adaptation, global environmental facility (GEF), political economy, the north -south relation

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Authors: S. Abeysekera, M. Bazghaleh, M. P. L. Ooi, Y. C. Kuang, V. Kalavally

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Smart LED-based lighting systems have significant advantages over traditional lighting systems due to their capability of producing tunable light spectrums on demand. The main challenge in the design of smart lighting systems is to produce sufficient luminous flux and uniformly accurate output spectrum for sufficiently broad area. This paper outlines the programmable LED lighting system design principles of design to achieve the two aims. In this paper, a seven-channel design using low-cost discrete LEDs is presented. Optimization algorithms are used to calculate the number of required LEDs, LEDs arrangements and optimum LED separation distance. The results show the illumination uniformity for each channel. The results also show that the maximum color error is below 0.0808 on the CIE1976 chromaticity scale. In conclusion, this paper considered the simulation and design of a seven-channel programmable lighting system using low-cost discrete LEDs to produce sufficient luminous flux and uniformly accurate output spectrum for sufficiently broad area.

Keywords: light spectrum control, LEDs, smart lighting, programmable LED lighting system

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Authors: Karen Bell

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While there is broad agreement among governments and civil society globally about the need to develop more sustainable societies, the best way to achieve this is still contested. In particular, there are differences regarding whether to continue to implement market-based approaches or to move to alternative redistributive-based approaches. In this paper, ‘Green Economy’ and ‘Living Well’ strategies are compared as examples of these two different strategies for achieving social, ecological and economic sustainability. The paper is based on a 3-year ESRC funded project on transitions to sustainability which examines the implementation of the ‘Green Economy’ paradigm in South Korea and the 'Living Well' paradigm in Bolivia. As well as outlining and analysing secondary data, the paper also draws on over 100 interviews with a range of local stakeholders in these countries carried out by the author between and including 2016 and 2018. The work indicates that the Living Well paradigm seems to better integrate social, ecological and economic concerns and may better deliver sustainability in the time frame necessary than the dominant Green Economy paradigm. This seems to be primarily because Living Well emphasises redistribution to reduce inequality and ensure human needs are met; living in harmony with nature, taking into account natural limits and cycles; respecting traditional values and practices where these support sustainability and human well-being; sovereignty and local control of natural resources; and participative decision-making, based on grassroots community organising. It is, therefore, argued that to achieve inclusive, just and effective transitions to sustainability we should aim to foster equality, respect planetary limits, build on local traditions, bring resources into public ownership and enhance participatory democracy. This will require a radically different approach to that offered within the market-based agenda currently dominating global sustainability debates and activities.

Keywords: environmental transition, green economy, inclusive sustainability, living well, sustainable transition

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Authors: Jari Koskiaho, Teija Kirkkala, Jani Salminen, Sarianne Tikkanen, Sirkka Tattari

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Here, phosphorus (P) loading to the lake Pyhäjärvi (SW Finland) was reviewed, load reduction targets were determined, and different measures of waterwise circular economy to reach the targets were evaluated. In addition to the P loading from the lake’s catchment, there is a significant amount of internal P loading occurring in the lake. There are no point source emissions into the lake. Thus, the most important source of external nutrient loading is agriculture. According to the simulations made with LLR-model, the chemical state of the lake is at the border of the classes ‘Satisfactory’ and ‘Good’. The LLR simulations suggest that a reduction of some hundreds of kilograms in annual P loading would be needed to reach an unquestionably ‘Good’ state. Evaluation of the measures of the waterwise circular economy suggested that they possess great potential in reaching the target P load reduction. If they were applied extensively and in a versatile, targeted manner in the catchment, their combined effect would reach the target reduction. In terms of cost-effectiveness, the waterwise measures were ranked as follows: The best: Fishing, 2nd best: Recycling of vegetation of reed beds, wetlands and buffer zones, 3rd best: Recycling field drainage waters stored in wetlands and ponds for irrigation, 4th best: Controlled drainage and irrigation, and 5th best: Recycling of the sediments of wetlands and ponds for soil enrichment. We also identified various waterwise nutrient recycling measures to decrease the P content of arable land. The cost-effectiveness of such measures may be very good. Solutions are needed to Finnish water protection in general, and particularly for regions like lake Pyhäjärvi catchment with intensive domestic animal production, of which the ‘P-hotspots’ are a crucial issue.

Keywords: circular economy, lake protection, mitigation measures, phosphorus

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Authors: Emre Bayamlıoğlu

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This paper aims to provide an account of the legal and the regulative aspects of the algorithmic reputation systems with a special emphasis on the sharing economy (i.e., Uber, Airbnb, Lyft) business model. The first section starts with an analysis of the legal and commercial nature of the tripartite relationship among the parties, namely, the host platform, individual sharers/service providers and the consumers/users. The section further examines to what extent an algorithmic system of reputational information could serve as an alternative to legal regulation. Shortcomings are explained and analyzed with specific examples from Airbnb Platform which is a pioneering success in the sharing economy. The following section focuses on the issue of governance and control of the reputational information. The section first analyzes the legal consequences of algorithmic filtering systems to detect undesired comments and how a delicate balance could be struck between the competing interests such as freedom of speech, privacy and the integrity of the commercial reputation. The third section deals with the problem of manipulation by users. Indeed many sharing economy businesses employ certain techniques of data mining and natural language processing to verify consistency of the feedback. Software agents referred as "bots" are employed by the users to "produce" fake reputation values. Such automated techniques are deceptive with significant negative effects for undermining the trust upon which the reputational system is built. The third section is devoted to explore the concerns with regard to data mobility, data ownership, and the privacy. Reputational information provided by the consumers in the form of textual comment may be regarded as a writing which is eligible to copyright protection. Algorithmic reputational systems also contain personal data pertaining both the individual entrepreneurs and the consumers. The final section starts with an overview of the notion of reputation as a communitarian and collective form of referential trust and further provides an evaluation of the above legal arguments from the perspective of public interest in the integrity of reputational information. The paper concludes with certain guidelines and design principles for algorithmic reputation systems, to address the above raised legal implications.

Keywords: sharing economy, design principles of algorithmic regulation, reputational systems, personal data protection, privacy

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Authors: Kelly La Venture

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Destination promotion has become increasingly important to economic development in the United States. Key stakeholders of the First City on the Mississippi recognizes the importance of the visitor economy and decided to invest in destination promotion of the city as ‘True North’. The purpose of the study was to analyze the economic impact and stakeholder perceptions of destination promotion of the First City on the Mississippi as ‘True North’ using the case study method. Using a semi-structured guide consisting of 8 questions and additional probing questions, investigators engaged in 30-90 minute interviews with 20 key stakeholders. Data captured was then subjected to thematic analysis and interpretation. Through a review of literature and interview analysis, data indicate(1) there is increasing value in the visitor economy of the First City on the Mississippi,(2) the visitor economy warrants investments in destination promotion,(3) economic development can be more effective through coordination of destination promotion of as ‘True North’ and,(4) destination promotion fuels development across the entire economic spectrum. As a result, the First City on the Mississippi should prioritize marketing efforts of as ‘True North’ and coordinate these efforts with economic development initiatives. The destination promotion of the First City on the Mississippi as ‘True North’ may raise the communities profile and open doors to increased tourism, business relocation, business expansion, and entrepreneurs ready to start up a new organization.

Keywords: case study method, destination promotion, economic development, leisure and business travel

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Authors: Majdi M. Alomari, Nafesah I. Alshdaifat, Mohammad S. Widyan

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Different countries have introduced different schemes and policies to counter global warming. The rationale behind the proposed policies and the potential barriers to successful implementation of the policies adopted by the countries were analyzed and estimated based on different models. It is argued that these models enhance the transparency and provide a better understanding to the policy makers. However, these models are underpinned with several structural and baseline assumptions. These assumptions, modeling features and future prediction of emission reductions and other implication such as cost and benefits of a transition to a low-carbon economy and its economy wide impacts were discussed. On the other hand, there are potential barriers in the form political, financial, and cultural and many others that pose a threat to the mitigation options.

Keywords: energy models, environmental policy instruments, mitigating CO2 emission, economic wide impact

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Authors: Viktorija Mano

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The objective of my research is to critique the International Monetary Fund (IMF) stance on foreign investment and the benefits for small, open economies of allowing the free movement of capital. In my research as a whole I will explore the extent to which this stance impacted upon and influenced the economic policies of Macedonia. This will involve providing a contextualized, critical account of the policy of the IMF focusing on a comparison of its policies during the early 2000s through policy documents, political discourse and enacted policies in Macedonia. The conditionality associated with these policies, such as the enforcement of austerity measures (including cutting public spending and reducing debt) and the privatization of public institutions has provoked strong reactions in countries which receive such loans. My main focus in my research is on exploring how the process of Financial Liberalization (FL) of the Macedonian economy affected capital flows in the form of foreign direct investments (FDI) in the private sector and how the recent Greek crisis of 2008 has impacted on this. In the case of Macedonia, the reality of FL was tested by the collapse of the Greek economy. However, this paper will highlight the main duties of the IMF and the goals of the FL process implemented in various countries.Additionally, I will undertake a rhetorical documentary analysis on the IMF reports regarding the process of FL in Macedonia since its independence until today.

Keywords: FDI, financial liberalization, Greece, IMF, Macedonia

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Authors: Adegboyega Adedolapo Ola

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Globally, a country’s maritime security has a significant impact on its national development because it serves as a major source of a commercial contact and food supply. However, the country has been faced with a number of problems, such as piracy, kidnapping, illegal bunkering and oil theft. As such, the study examined the contribution and the relationship between maritime security and Nigeria’s development, as well as the prospects and challenges of maritime security in Nigeria. The study utilized a questionnaire and focused group discussion/interview as instruments for data collection. The method of analysis employed in the study is descriptive. A total of Three Hundred and Ninety (390) respondents were randomly selected. The result of the study showed that maritime security contributes to national development in Nigeria by guaranteeing food security in Nigeria, creating employment opportunities as well as increasing the Gross Domestic Product (GDP) of the economy. It was also found that maritime security is yet to provide sufficient support for national development in Nigeria. It is further established that it has prospects for development through the creation of employment opportunities, increase in foreign earnings, and fostering improved living standards for citizens. The study concluded that the high level of corruption, piracy and kidnapping, lack of political will by the government and the porosity of the Nigerian borders are serious obstacles, among others. In attempting to solve the problem of piracy and kidnapping in Nigerian maritime, to contribute to National development, it is primordial to address the cancer of corruption, poverty, and youth unemployment. In view of this, the study recommends: among other things, that the maritime industry should be well secured by removing its constraints/bottlenecks so as to enhance its contributions to national development.

Keywords: maritime security, national development, terrorism, piracy

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Authors: Defne Akinci Midas

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The aim of this study was to determine the minimum, and maximum number of words that would be sufficient to fulfill the writing task in the local English Proficiency Exam (EPE) produced and administered at the Middle East Technical University, Ankara, Turkey. The relationship between the number of words and the scores of the written products that had been awarded by two raters in three online EPEs administered in 2020 was examined. The means, standard deviations, percentages, range, minimum and maximum scores as well as correlations of the scores awarded to written products with the words that amount to 0-50, 51-100, 101-150, 151-200, 201-250, 251-300, and so on were computed. The results showed that the raters did not award a full score to texts that had fewer than 100 words. Moreover, the texts that had around 200 words were awarded the highest scores. The highest number of words that earned the highest scores was about 225, and from then onwards, the scores were either stable or lower. A positive low to moderate correlation was found between the number of words and scores awarded to the texts. We understand that the idea of ‘the longer, the better’ did not apply here. The results also showed that words between 101 to about 225 were sufficient to fulfill the writing task to fully display writing skills and language ability in the specific case of this exam.

Keywords: English proficiency exam, number of words, scoring, writing task

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Authors: Stanley Yap, Patrick Kee Peng Kong, Chong Wei Ying, Leow Hon Wei

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Purpose: This study examines the comprehensive household retirement planning based on the level of financial literacy in Malaysia. Sufficient financial literacy is essential to make financial decision on Malaysian household retirement planning. Design/Methodology/Approach: Numerous measurements consist of present value of total retirement fund needed, future value of the expenses and inflation-adjusted interest rate are used in this paper. Therefore, we are able to identify the retirement gap that needs to be considered immediately. Findings: Our results show, firstly, adequate financial literacy is vital to achieve long term household retirement planning. Secondly, there is no retirement gap where the future value of the existing financial assets is greater than the lump sum needs during retirement phase. Thirdly, financial assets should be prepared in early age to accumulate substantial funding to support household retirement life. Practical Implications: The outcomes benefit to retiree and working adults. It highlights the importance of financial literacy to retirement planning. It is also a milestone for Malaysian to achieve developed country if Malaysian has sufficient retirement funding. Originality/Value: There is currently lack of in-depth research on financial literacy related to household retirement planning. Further, the paper also focusses on financial literacy, as a means to assist those in funding retirement resources, in order to fulfil the retirement gap.

Keywords: financial literacy, retirement planning, retirement resources, retirement gap, Malaysian household

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Authors: Robert Smith, Omar Espinoza, Anna Pitta

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In the United States, trees felled in urban areas and wood generated through construction and demolition are primarily disposed of as low-value resources, such as biomass for energy, landscaping mulch, composting, or landfilled. An emerging industry makes use of these underutilized resources to produce high value-added products, with associated benefits for the environment, the local economy, and consumers. For the circular economy to be successful, markets must be created for sustainable, reusable natural materials. Research was carried out to increase the understanding of the marketing practices of urban and reclaimed wood industries. This paper presents the results of a nationwide survey of these companies. The results indicate that a majority of companies in this industry are small firms, operating for less than 10 years, which produce mostly to order and sell their products at comparatively higher prices than competing products made from virgin natural resources. Promotional messages included quality, aesthetics, and customization, conveyed through company webpages, word of mouth, and social media. Distribution channels used include direct sales, online sales, and retail sales. Partnerships are critical for effective raw material procurement. Respondents indicated optimistic growth expectations, despite barriers associated with urban and reclaimed wood materials and production.

Keywords: urban and reclaimed wood, circular economy, marketing, wood products

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Authors: Zhen Li

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In contemporary China, the rise of consumer culture and feminism has facilitated the ‘She-Economy’, where Chinese women’s consumption power has been boosted along with the thriving Chinese economy. Domestic reality TV shows such as Sisters Who Make Waves (hereafter SWMW) target female audiences by bringing women's issues such as age, appearance, and balance between family and career to the discussion. Against this backdrop, this study adopted multimodal content analysis to investigate how SWMW failed to live up to the feminist goals the show had claimed and how serious women’s issues were consumed and capitalized by the consumer media culture from consumer culture and feminist perspectives. The findings reveal that while the female-themed work claims to uncover the charm that age brings to women over their thirties, it merely mentions female anxiety and uses feminism in disguise to achieve commercial success without in-depth thinking and discussion of what real-life issues women in China are tackling. They further show that the mass media-promoted modern femininity combined with consumerism deepens anxiety over aging among female audiences. The study sheds light on understanding the new development of Chinese femininity and the impact of consumer culture on feminist consciousness in contemporary China.

Keywords: consumer culture, feminism, multimodal content analysis, she-economy

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Authors: Marat Kozhomberdiev

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The research will investigate the modern corporate finance management technologies currently used in the era of digitalization of the global economy and the degree to which financial institutions are utilizing these new technologies in the field of corporate finance management in Kyrgyzstan. The main purpose of the research is to reveal the role of financial management technologies as joint service centers, intercompany banks, specialized payment centers in the third-world country. Particularly, the analysis of the implacability of automated corporate finance management systems such as enterprise resource planning system (ERP) and treasury management system (TMS) will be carried out. Moreover, the research will investigate the role of cloud accounting systems in corporate finance management in Kyrgyz banks and whether it has any impact on the field of improving corporate finance management. The study will utilize a data collection process via surveying 3 banks in Kyrgyzstan, namely Mol-Bulak, RSK, and KICB. The banks were chosen based on their ownerships, such as state banks, private banks with local authorized capital, and private bank with international capital. The regression analysis will be utilized to reveal the correlation between the ownership of the bank and the use of new financial management technologies. The research will provide policy recommendations to both private and state banks on developing strategies for switching and utilizing modern corporate finance management technologies in their daily operations.

Keywords: digital economy, corporate finance, digital environment, digital technologies, cloud technologies, financial management

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Authors: Kiana Keshavarz, Carmen Jaca, María J. Álvarez

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The shift to a circular economy necessitates a substantial change in consumer behavior, a complex and unpredictable actor that proves challenging to guide toward sustainability. This systematic literature review addresses the pivotal role that consumers play in propelling a circular economy, emphasizing the critical gap between positive attitudes and responsible actions. In this review, we utilized two prominent databases, Scopus and Web of Science, during the months of July and August 2023. A comprehensive screening process considered 467 articles, ultimately including 115 in the study for detailed analysis. Recognizing the transformative potential of consumer behavior, the study examines three key phases of consumer interaction with products —pre-purchasing decision, careful usage, and post-use management—identifying consumer-centric strategies that boost sustainability in each phase. Contrary to the prevailing emphasis on post-management strategies in society, the synthesis highlights the profound impact of strategies enacted during the pre-purchasing decision phase. In the investigation of the persistent attitude-behavior gap, factors influencing this gap and impeding consumers from engaging in sustainable actions are identified based on behavioral theories. Subsequently, strategies aimed at diminishing barriers and boosting motivators, as outlined in the literature, are presented. Recognizing the transformative potential of consumer behavior, the study underscores the pivotal roles of policymakers, businesses, and governments in fostering a more sustainable future. Ultimately, there is a call for further research to enhance the depth of analysis. This could be achieved through a more focused approach, such as narrowing the scope to a specific industry or applying a specific behavioral theory.

Keywords: circular economy, consumer behavior, sustainability, attitude-behavior gap, systematic literature review

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Authors: Elena Tkachenko, Vladimir Kokh, Alina Osipenko, Vladislav Surkov

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The modern period of development of Russian economy is fraught with a number of problems related to limitations in the use of traditional planning and financial management tools. Restrictions in the use of foreign software when performing an order of the Russian Government, on the one hand, and sanctions limiting the support of the major ERP and MRP II systems in the Russian Federation, on the other hand, entail the necessity to appeal to the basics of developing budgeting and analysis systems for industrial enterprises. Thus, cost calculation theory becomes the theoretical foundation for the development of industrial cost management systems. Based on the foregoing, it would be fair to make an assumption that the development of a working managerial accounting model on an industrial enterprise using an automated enterprise resource management system should rest upon the concept of the inevitability of alterations of business processes. On the other hand, optimized business processes make the architecture of financial analytics more transparent and permit the use of all the benefits of data cubes. The metrics and indicator slices provide online assessment of the state of key business processes at a given moment of time, which improves the quality of managerial decisions considerably. Therefore, the bilateral sanctions situation boosted the development of corporate business analytics and took industrial companies to the next level of understanding of business processes.

Keywords: cost culculation, ERP, OLAP, modern Russian economy

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Authors: Ahmet Diken, Meral Erdirençelebi

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Similar to economies in many countries; family-owned enterprises have a significant role in the development of Turkish economy. Although they have a large share in economic terms, their lifetime is limited to working life of their founders. Failure in achieving their sustainability deeply affects not only these businesses but also the economy. Therefore, two basic elements of family owned enterprises, family and organizational culture and especially entrepreneurship culture, should be examined closely. The degree of effectiveness of parents in instilling their children with entrepreneurship culture and their effects on children's profession choices are examined through face-to-face surveys with the managers owning family businesses randomly chosen among family-owned enterprises registered in Konya Chamber of Industry, which are active in specific sectors and which had different generations in their management.

Keywords: family businesses, entrepreneurship, entrepreneurial culture, family culture

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Authors: Fatemeh Sadat Sharifi

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In this research, a barotropic model was employed to consider the tidal studies in the Persian Gulf and Oman Sea, where the only sufficient force was the tidal force. To do that, a finite-difference, free-surface model called Regional Ocean Modeling System (ROMS), was employed on the data over the Persian Gulf and Oman Sea. To analyze flow patterns of the region, the results of limited size model of The Finite Volume Community Ocean Model (FVCOM) were appropriated. The two points were determined since both are one of the most critical water body in case of the economy, biology, fishery, Shipping, navigation, and petroleum extraction. The OSU Tidal Prediction Software (OTPS) tide and observation data validated the modeled result. Next, tidal elevation and speed, and tidal analysis were interpreted. Preliminary results determine a significant accuracy in the tidal height compared with observation and OTPS data, declaring that tidal currents are highest in Hormuz Strait and the narrow and shallow region between Iranian coasts and Islands. Furthermore, tidal analysis clarifies that the M_2 component has the most significant value. Finally, the Persian Gulf tidal currents are divided into two branches: the first branch converts from south to Qatar and via United Arab Emirate rotates to Hormuz Strait. The secondary branch, in north and west, extends up to the highest point in the Persian Gulf and in the head of Gulf turns counterclockwise.

Keywords: numerical model, barotropic tide, tidal currents, OSU tidal prediction software, OTPS

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Authors: Bruna F. Oliveira, Teresa I. Gonçalves, Marcelo M. Sousa, Sandra M. Pimenta, Octávio F. Ramalho, José B. Cruz, Flávia V. Barbosa

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The EU Circular Economy action plan, launched in 2020, is one of the major initiatives to promote the transition into a more sustainable industry. The circular economy is a popular concept used by many companies nowadays. Some industries are better forwarded to this reality than others, and the tannery industry is a sector that needs more attention due to its strong environmental impact caused by its dimension, intensive resources consumption, lack of recyclability, and second use of its products, as well as the industrial effluents generated by the manufacturing processes. For these reasons, the zero-waste goal and the European objectives are further being achieved. In this context, a need arises to provide an effective methodology that allows to determine the level of circularity of tannery companies. Regarding the complexity of the circular economy concept, few factories have a specialist in sustainability to assess the company’s circularity or have the ability to implement circular strategies that could benefit the manufacturing processes. Although there are several methodologies to assess circularity in specific industrial sectors, there is not an easy go-to methodology applied in factories aiming for cleaner production. Therefore, a straightforward methodology to assess the level of circularity, in this case of a tannery industry, is presented and discussed in this work, allowing any company to measure the impact of its activities. The methodology developed consists in calculating the Overall Circular Index (OCI) by evaluating the circularity of four key areas -energy, material, economy and social- in a specific factory. The index is a value between 0 and 1, where 0 means a linear economy, and 1 is a complete circular economy. Each key area has a sub-index, obtained through key performance indicators (KPIs) regarding each theme, and the OCI reflects the average of the four sub-indexes. Some fieldwork in the appointed company was required in order to obtain all the necessary data. By having separate sub-indexes, one can observe which areas are more linear than others. Thus, it is possible to work on the most critical areas by implementing strategies to increase the OCI. After these strategies are implemented, the OCI is recalculated to check the improvements made and any other changes in the remaining sub-indexes. As such, the methodology in discussion works through continuous improvement, constantly reevaluating and improving the circularity of the factory. The methodology is also flexible enough to be implemented in any industrial sector by adapting the KPIs. This methodology was implemented in a selected Portuguese small and medium-sized enterprises (SME) tannery industry and proved to be a relevant tool to measure the circularity level of the factory. It was witnessed that it is easier for non-specialists to evaluate circularity and identify possible solutions to increase its value, as well as learn how one action can impact their environment. In the end, energetic and environmental inefficiencies were identified and corrected, increasing the sustainability and circularity of the company. Through this work, important contributions were provided, helping the Portuguese SMEs to achieve the European and UN 2030 sustainable goals.

Keywords: circular economy, circularity index, sustainability, tannery industry, zero-waste

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Authors: Murtala Marafa

Abstract:

This research is on socio-economic contributions of the Kanuri migrant community in Sokoto City during the 20th century. Kanuri migrants have been one of the major migrant groups who played and still playing positive role in the development of Sokoto city. The research will make an attempt to examine both the push and pulls factors responsible for Kanuri migration to Sokoto City. It is in the light of this that the research will examine and capture profiles of select prominent Kanuri migrants within the Sokoto city, in order to identify their major economic contributions to the development of Sokoto City. It is hoped that the study will show in the final analysis that the migration of Kanuri to Sokoto city have impacted positively to the socio-economic development of Sokoto city.

Keywords: development, economy, Kanuri, migration

Procedia PDF Downloads 264

Authors: Denis Ushakov

Abstract:

Cities are the main actors of global production and trade, and dominant share of international business activity is now concentrating within a frame of global urban net. This trend transforms mechanisms and patterns of market economy institutes’ (such as competition, division of labor, international movement of capital and labor force) functioning; stimulates an appearance of new economical (development of rural areas), social (urbanization) and political (political and economical unity of the big countries) problems. All these reasons identified relevance and importance of purpose of this study – to consider a modern role of cities’ business systems in the global economy, to identify sources for global urban competitive advantages, to clear inter-cities economic relationships and patterns of cities’ positioning within a frame of global net.

Keywords: globalization, urban business system, global city, transnationalization, networking

Procedia PDF Downloads 298

Authors: Hussain Ali Bekhet, Tuan Ab Rashid Bin Tuan Abdullah, Tahira Yasmin

Abstract:

It is very important for electric utility to determine dominant sectors which have more impacts on electricity consumption in national economy system. The aim of this paper is to examine the electricity demand multipliers in Malaysia for (2005-2014) period. Malaysian Input-output tables, 2005 and 2010 are used. Besides, a new concept, electricity demand multiplier (EDM), is presented to identify key sectors imposing great impacts on electricity demand quantitatively. In order to testify the effectiveness of the Malaysian energy policies, it notes that there is fluctuation of the ranking sectors between 2005 and 2010. This could be reflected that there is efficiency with pace of development in Malaysia. This can be good indication for decision makers for designing future energy policies.

Keywords: input-output model, demand multipliers, electricity, key sectors, Malaysia

Procedia PDF Downloads 366

Authors: Rowland Brucken

Abstract:

This paper argues that nation-building theories that prioritize democratic governance best explain the successful post-independence development of Botswana. Three main competing schools of thought exist regarding the sequencing of policies that should occur to re-build weakened or failed states. The first posits that economic development should receive foremost attention, while democratization and a binding sense of nationalism can wait. A second group of experts identified constructing a sense of nationalism among a populace is necessary first, so that the state receives popular legitimacy and obedience that are prerequisites for development. Botswana, though, transitioned into a multi-party democracy and prosperous open economy due to the utilization of traditional democratic structures, enlightened and accountable leadership, and an educated technocratic civil service. With these political foundations already in place when the discovery of diamonds occurred, the resulting revenues were spent wisely on projects that grew the economy, improved basic living standards, and attracted foreign investment. Thus democratization preceded, and therefore provided an accountable basis for, economic development that might otherwise have been squandered by greedy and isolated elites to the detriment of the greater population. Botswana was one of the poorest nations in the world at the time of its independence in 1966, with little infrastructure, a dependence on apartheid South Africa for trade, and a largely subsistence economy. Over the next thirty years, though, its economy grew the fastest of any nation in the world. The transparent and judicious use of diamond returns is only a partial explanation, as the government also pursued economic diversification, mass education, and rural development in response to public needs. As nation-building has become a project undertaken by nations and multilateral agencies such as the United Nations and the North Atlantic Treaty Organization, Botswana may provide best practices that others should follow in attempting to reconstruct economically and politically unstable states.

Keywords: Botswana, democratization, economic development, nation-building

Procedia PDF Downloads 505

Authors: S. Sakthivel

Abstract:

Currently, the global economy is based on the hydrocarbon economy, which is referencing the global hydrocarbon industry. Problems of using these fossil fuels (like oil, NG, coal) are emitting greenhouse gases (GHGs) and price fluctuation, supply/distribution, etc. These challenges can be overcome by using clean energy as hydrogen. The hydrogen economy is the use of hydrogen as a low carbon fuel, particularly for hydrogen vehicles, alternative industrial feedstock, power generation, and energy storage, etc. Engineering consulting firms have a significant role in this ambition and green hydrogen value chain (i.e., integration of renewables, production, storage, and distribution to end-users). Typically, the cost of green hydrogen is a function of the price of electricity needed, the cost of the electrolyser, and the operating cost to run the system. This article focuses on economic viability and explores the alluring business scenarios globally. Break-even analysis was carried out for green hydrogen production and in order to evaluate and compare the impact of the electricity price on the production costs of green hydrogen and relate it to fossil fuel-based brown/grey/blue hydrogen costs. It indicates that the cost of green hydrogen production will fall drastically due to the declining costs of renewable electricity prices and along with the improvement and scaling up of electrolyser manufacturing. For instance, in a scenario where electricity prices are below US$ 40/MWh, green hydrogen cost is expected to reach cost competitiveness.

Keywords: green hydrogen, cost analysis, break-even analysis, renewables, electrolyzer

Procedia PDF Downloads 134

Authors: Anne-Marie Tuomala

Abstract:

Education for sustainable development (ESD) aims to provide students with the attitudes, values, and behaviors necessary for the contribution to sustainability. The research was implemented as a part of the Horizons Europe research project, where each partner organization had at least one pilot project locally. The pilot in question was an online course about the basics of the natural stone industry in Finland and its sustainability and circular economy aspects. The course was open to all students of applied universities in Finland, and it was implemented twice during the research. The Stone from Finland association participated in the course design, and it was also an expert in the local context and real-life provider. The multiple case-study method was chosen, as it enables purposeful sampling of cases that are tailored to the specific study. It was also assumed that it predicts quite comparable results of two different course implementations of the course with the same topic and content. The Curtin University of Technology’s Attitudes Towards Thinking and Learning Survey was adapted. The results show the importance of the trans-disciplinary nature of sustainability education. In addition, the new industry areas with the general - but also industry-specific sustainability issues - must be introduced to students and encourage them to do critically reflective learning. Surveys that guide them to analyze their own attitudes to thinking and learning may expose students to their weaknesses but also result in forms of more active sustainability interaction.

Keywords: education for sustainable development, learning attitudes, learning of circular economy, virtual learning

Procedia PDF Downloads 37