Search results for: economic impact

Authors: Jonas Chikelue Ogbuefi

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Science and Technology have a major impact on societal peace, it offers support to teaching and learning, cuts costs, and offers solutions to the current agitations and militancy in Nigeria today. Christianity, for instance, did not only change and form the western world in the past 2022 but still has a substantial role to play in society through liquid ecclesiology. This paper interrogated the impact of the theology of Science and Technology as a tool for peace sustainability through peace education in Nigeria. The method adopted is a historical and descriptive method of analysis. It was discovered that a larger number of Nigerian citizens lack almost all the basic things needed for the standard of living, such as Shelter, meaningful employment, and clothing, which is the root course of all agitations in Nigeria. Based on the above findings, the paper contends that the government alone cannot restore Peace in Nigeria. Hence the inability of the government to restore peace calls for all religious actors to be involved. The main thrust and recommendation of this paper are to challenge the religious actors to implement the Theology of Science and Technology as a tool for peace restoration and should network with both the government and the private sectors to make funds available to budding and existing entrepreneurs using Science and Technology as a tool for Peace and economic sustainability. This paper viewed the theology of Science and Technology as a tool for Peace and economic sustainability in Nigeria.

Keywords: theology, science, technology, peace education

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Authors: Khalid Bashir, Hammad Zahid

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Most of the investors consider that economic and financial information is the most important at the time of making investment decisions. But it is not true, as in the past two decades, the Behavioral aspects and the behavioral biases have gained an important place in the decision-making process of an investor. This study is basically conducted on this fact. The purpose of this study is to examine the impact of behavioral factors on the decision-making of the individual real estate investor in Pakistan. Some important behavioral factors like overconfidence, anchoring, gambler’s fallacy, home bias, loss aversion, regret aversion, mental accounting, herding and representativeness are used in this study to find their impact on the psychology of individual investors. The targeted population is the real estate investor of Pakistan, and a sample of 650 investors is selected on the basis of convenience sampling technique. The data is collected through the questionnaire with a response rate of 46.15 %. Descriptive statistical techniques and SEM are used to analyze the data by using statistical software. The results revealed the fact that some behavioral factors have a significant impact on the decision-making of investors. Among all the behavioral biases, overconfidence, anchoring, gambler’s fallacy, loss aversion and representativeness have a significant positive impact on the decision-making of the individual investor, while the rest of biases like home bias, regret aversion, mental accounting, herding have less impact on the decision-making process of an individual.

Keywords: behavioral finance, anchoring, gambler’s fallacy, loss aversion

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Authors: Odirachukwu S. Mwim, Tana Pistorius

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Since the early 1990s political and economic pressures have been mounted on policy and law makers to increase patent protection by raising the protection standards. The perception of the relation between patent protection and development, particularly economic development, has evolved significantly in the past few years. Debate on patent protection in the international arena has been significantly influenced by the perception that there is a strong link between patent protection and economic development. The level of patent protection determines the extent of development that can be achieved. Recently there has been a paradigm shift with a lot of emphasis on extending patent protection to method of doing business generally referred to as Business Method Patenting (BMP). The general perception among international organizations and the private sectors also indicates that there is a strong correlation between BMP protection and economic growth. There are two diametrically opposing views as regards the relation between Intellectual Property (IP) protection and development and innovation. One school of thought promotes the view that IP protection improves economic development through stimulation of innovation and creativity. The other school advances the view that IP protection is unnecessary for stimulation of innovation and creativity and is in fact a hindrance to open access to resources and information required for innovative and creative modalities. Therefore, different theories and policies attach different levels of protection to BMP which have specific implications for economic growth. This study examines the impact of BMP protection on development by focusing on the challenges confronting economic growth in African communities as a result of the new paradigm in patent law. (Africa is used as a single unit in this study but this should not be construed as African homogeneity. Rather, the views advanced in this study are used to address the common challenges facing many communities in Africa). The study reviews (from the point of views of legal philosophers, policy makers and decisions of competent courts) the relevant literature, patent legislation particularly the International Treaty, policies and legal judgments. Findings from this study suggest that over and above the various criticisms levelled against the extreme liberal approach to the recognition of business methods as patentable subject matter, there are other specific implications that are associated with such approach. The most critical implication of extending patent protection to business methods is the locking-up of knowledge which may hamper human development in general and economic development in particular. Locking up knowledge necessary for economic advancement and competitiveness may have a negative effect on economic growth by promoting economic exclusion, particularly in African communities. This study suggests that knowledge of BMP within the African context and the extent of protection linked to it is crucial in achieving a sustainable economic growth in Africa. It also suggests that a balance is struck between the two diametrically opposing views.

Keywords: Africa, business method patenting, economic growth, intellectual property, patent protection

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Authors: Glory Okereke

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Several research on the value of aid funding and delivery have emphasized the importance of partnership and accountability in implementing development projects between INGOs and NGOs. Despite challenges in accessing detailed information on their impact due to the extension of information they are willing to provide, this pathway has been seen as an alternative approach and more beneficial than aid funding and delivery through the state. This paper tends to analyze this relationship using liberal and international relations theories to understand the positive and negative aspects of INGO to NGO pathway as a better alternative to economic development. Looking through a broad spectrum of economic development, the paper focuses on Nigeria and analyzes existing empirical literature of INGOs with local NGOs with a comparative analysis of bilateral aid relations with the Nigerian government.

Keywords: NGOS, development, Nigeria, liberal theories, aid

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Authors: Maram Elkady

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Purpose: The purpose behind this study is to determine the impact of some factors on achieving successful accounting information systems (AIS) outsourcing in Egypt, taking into account two factors: the selection of an effective accounting service provider and the quality relationships between the client firm and the accounting service provider. The researcher measured outsourcing success through the perceived benefits, including (strategic, technological, and economic benefits). Design/Methodology/Approach: A survey was carried out by means of questionnaires answered by 152 small and medium Egyptian firms outsourcing their accounting activities. The researcher targeted the personnel in the client firms who were in direct contact with the accounting outsourcer. The hypotheses were tested through multiple regression analysis using SPSS 24 and AMOS 22. Findings: Building a quality relationship with the provider is found to have more impact than the effective selection of the AIS provider on the success of the AIS outsourcing process. Originality/Value: The researcher found that some proxies of each success determinant can be more influential than others based on type of benefits perceived from AIS outsourcing (strategic, technological, and economic).

Keywords: accounting information system, AIS, outsourcing, successful outsourcing, AIS service provider selection, relationship with the accounting service provider

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Authors: Abdulrahman M. Alsuhaibani, Martin Maken

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FACTS devices have great influence on the grid stability and power markets price. Recently, there is intent to integrate a large scale of renewable energy sources to the power system which in turn push the power system to operate closer to the security limits. This paper discusses the power system stability and reliability improvement that could be achieved by using FACTS. There is a comparison between FACTS devices to evaluate their performance for different functions. A case study has also been made about its effect on reducing generation cost and minimizing transmission losses which have good impact on efficient and economic operation of electricity markets

Keywords: FACTS, grid stability, spot price, OPF

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Authors: M. Fems Kurotimi, Agada Franklin, Godsave Aladei, Opigo Helen

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Within the last 30 years, entrepreneurship education (EE) has continued to gain massive interest both in the field of research and among policy makers. This surge in interest can be attributed to the perceived importance EE plays in the equipping of potential entrepreneurs and as a 21^st century strategy to foster economic growth and development. This paper sets out to ascertain the correlation between EE and economic growth and development. A desk research approach was adopted where a multiplicity of literatures in the field were studied intensely. The findings reveal that indeed EE has a positive effect on entrepreneurship engagement thereby fostering economic growth and development. However, some research studies reported the contrary. That although EE may be able to equip potential entrepreneurs with requisite entrepreneurial skills and competencies, it will only be successful in producing entrepreneurs if they are internally driven to become entrepreneurs, because we cannot make people what they are not. The findings also reveal that countries that adopted EE early have more innovations inspired by entrepreneurs and are more developed than those that only recently adopted EE as a viable tool for entrepreneurship and economic development.

Keywords: entrepreneurship, entrepreneurship education, economic development, economic growth, sustainable development

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Authors: Mohsin Reza, Thirunaukarasu Subramaniam, M. Rezaul Islam

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In Asia, economic and social well-being issues are rarely addressed. The major characteristics of the migrant workers in Asian countries are seriously exploited, marginalized, and infrequently looked from human rights perspective. This paper explored the opportunities and shortages of economic and social well-being for the migrant workers in Asia. A Qualitative Interpretative Meta-Synthesis (QIMS) was conducted to analyze the contextual socio-economic factors that characterized migrant workers’ economic and social well-being. It is perceived that in most of the recruiting countries, there are lacks of government commitments to the international protocols, conventions and laws that they ratified towards safeguarding migrant workers’ economic and social well-being. Results showed that the migrant workers had lack of job security, poor salary, long working hours, low access to the public services, poor health, poor living and working conditions, lack of legal rights, physical and mental threats. The finding would be important guideline to the governments, policy makers, legal rights practitioners, and human rights organizations.

Keywords: Asia, economic well-being, social well-being, migrant workers, human rights

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Authors: Young Sik Kim, Tae Kwon Ha

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This article considers the problems of economic growth and Russian energy strategy. Also in this paper, the issues related to the economic growth prospects of Russian were discussed. Russian energy strategy without standing Russia`s stature in global energy markets, at the current production and extraction rates, will not be able to sustain its own production as well as fulfil its energy strategy. Indeed, Russia’s energy sector suffers from a chronic lack of investments which are necessary to modernize its energy supply system. In recent years, especially since the international financial crisis, Russia-EU energy cooperation has made substantive progress. Recently the break-through progress has been made, resulting mainly from long-term contributing factors between the countries and recent international economic and political situation changes. Analytical material presented in the article is intended for a more detailed or substantive analysis related to foreign economic relations of the countries and Russia as well.

Keywords: Russia, energy strategy, economic growth, cooperation

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Authors: Bishnu Prasad Devkota

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Peoples` perception is reflected in their attitudes and presumably their behavior towards wildlife conservation. The success of wildlife conservation initiatives in the mountains of Nepal is heavily dependent on local people. Therefore, Nepal has emphasized the involvement of local people in wildlife conservation, especially in the mountainous region. Local peoples` perception towards snow leopard conservation in six mountainous protected area of Nepal was carried out conducting 300 household surveys and 90 face to face key informant interviews. The average livestock holding was 27.74 animals per household with depredation rate of 10.6 % per household per annum. Livestock was the source of 32.74% of the total mean annual income of each household. In average, the economic loss per household per annum due to livestock depredation was US $ 490. There was significant difference in people´s perception towards snow leopard conservation in protected areas of mountainous region of Nepal. These differences were due to economic, educational and cultural factors. 54.4% local people showed preference for snow leopard conservation. The perception of local people toward snow leopard was significantly difference by the economic status of local people. Involvement of local people in conservation activities had positive impact towards wildlife conservation in the mountain region of Nepal. Timely introducing incentive programs can be a supportive way for sustaining the conservation of snow leopards in the Nepalese Himalayas.

Keywords: economic loss, livestock depredation, local people, perception, snow leopard

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Authors: Bubaker F. Shareia, Almuetaz R. Boubakr

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The aim of this paper is to show how Libya’s legal, economic, political, social, and cultural systems have shaped Libyan development. This will provide a background to develop an understanding of the current role of the accounting information system in Libya and the challenges facing the design of the aeronautical information system to meet the development needs of Libya. Our knowledge of the unified economic operating systems of the world paves the way for the economic development of every developing country. In order to achieve this understanding, every developing country should be provided with a high-efficiency communications system in order to be able to interact globally. From the point of view of the theory of globalization, Libya's understanding of its socio-economic and political systems is vital in order to be able to adopt and apply accounting techniques that will assist in the economic development of Libya.

Keywords: accounting, economic development, globalisation theory, information system

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Authors: Bonsoo Koo, Seong Shin Hong, Byung Kwon Lee

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Most of apartments in Korea have wall type structure that present poor performance regarding floor impact sound insulation. In order to minimize the transmission of floor impact sound, flooring structures are used in which an insulating material, 30 mm thickness pad of EPS or EVA, is sandwiched between a concrete slab and the finished mortar. Generally, a single-material pad used for insulation has a heavyweight impact sound level of 44~47 dB with 210 mm thickness slab. This study provides an analysis of the floor impact sound insulation performance using thermoplastic poly urethane (TPU), ethylene vinyl acetate (EVA), and expanded polystyrene (EPS) materials with buffering performance. Following mock-up tests the effect of lightweight impact sound turned out to be similar but heavyweight impact sound was decreased by 3 dB compared to conventional single material insulation pad.

Keywords: floor impact sound, thermoplastic poly urethane, ethylene vinyl acetate, heavyweight impact sound

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Authors: Sendy Ghirardi, Pau Rausell Köster

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The European Commission increasingly pushes cultural policies towards social outcomes and local and regional authorities also call for culture-driven strategies for local development and prosperity and therefore, the measurement of cultural participation becomes increasingly more significant for evidence-based policy-making processes. Cultural participation involves various kinds of social and economic spillovers that combine social and economic objectives of value creation, including social sustainability and respect for human values. Traditionally, from the economic perspective, cultural consumption is measured by the value of financial transactions in purchasing, subscribing to, or renting cultural equipment and content, addressing the market value of cultural products and services. The main sources of data are the household spending survey and merchandise trade survey, among others. However, what characterizes the cultural consumption is that it is linked with the hedonistic and affective dimension rather than the utilitarian one. In fact, nowadays, more and more attention is being paid to the social and psychological dimensions of culture. The aim of this work is to present a comprehensive approach to measure the impacts of cultural participation and cultural users’ behaviour, combining both socio-psychological and economic approaches. The model combines contingent evaluation techniques with the individual characteristic and perception analysis of the cultural experiences to evaluate the cognitive, aesthetic, emotive and social impacts of cultural participation. To investigate the comprehensive approach to measure the impact of the cultural events on individuals, the research has been designed on the basis of prior theoretical development. A deep literature methodology has been done to develop the theoretical model applied to the web platform to measure the impacts of cultural experience on individuals. The developed framework aims to become a democratic tool for evaluating the services that cultural or policy institutions can adopt through the use of an interacting platform that produces big data benefiting academia, cultural management and policies. The Au Culture is a prototype based on an application that can be used on mobile phones or any other digital platform. The development of the AU Culture Platform has been funded by the Valencian Innovation Agency (Government of the Region of Valencia) and it is part of the Horizon 2020 project MESOC.

Keywords: comprehensive approach, cultural participation, economic dimension, socio-psychological dimension

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Authors: Burcu Guvenek, Volkan Alptekin

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Turkey is a country in the process of development and its economy has undergone structural reforms in order to realize a sustainable development and energy has vital role as a basic input for this aim. Turkey has been in the process of economic growth and development and, because of this, has an increasing energy need. This paper investigates relationship between economic growth and electricity consumption using annual data for Turkey between 1970-2008 by using bounds test. As economic growth and energy consumption variables used in empirical analysis was different order of integration I(0) and I(1), we employed bounds test approach. We have not found co-integration relationship between the variables.

Keywords: bounds test, economic growth, energy consumption, Turkey

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Authors: Geoffrey J. Blanford, Christoph Weissbart

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The prospects for the European power sector indicate that it has to almost fully decarbonize in order to reach the economy-wide target of CO₂-emission reduction. We apply the EU-REGEN model to explain the penetration of RES from an economic perspective, their spatial distribution, and the complementary role of conventional generation technologies. Furthermore, we identify economic consequences of national energy and climate targets. Our study shows that onshore wind power will be the most crucial generation technology for the future European power sector. Its geographic distribution is driven by resource quality. Gas power will be the major conventional generation technology for backing-up wind power. Moreover, a complete phase out of coal power proves to be not economically optimal. The paper demonstrates that existing national targets have a negative impact, especially on the German region with higher prices and lower revenues. The remaining regions profit are hardly affected. We encourage an EU-wide coordination on the expansion of wind power with harmonized policies. Yet, this requires profitable market structures for both, RES and conventional generation technologies.

Keywords: European, policy evaluation, power sector investment, technology choices

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Authors: Aseela Alhinaai, Suliman Abdullah, Adil Albusaidi

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Knowledge has been considered an important asset in private and public organizations. It is utilized in the libraries sector to run different operations of technical services and administrative works. As a result, the International Federation of Library Association (IFLA) established a department “Knowledge Management” in December 2003 to provide a deep understanding of the KM concept for professionals. These are implemented through different programs, workshops, and activities. This study aims to identify the impact of the knowledge-sharing factors (technology, collaboration, management support) to improve decision-making at Sultan Qaboos University Libraries. This study conducted a quantitative method using a questionnaire instrument to measure the impact of technology, collaboration, and management support on knowledge sharing that lead to improved decision-making. The study population is the (SQU) libraries (Main Library, Medical Library, College of Economic and political science library, and Art Library). The results showed that management support, collaboration, and technology use have a positive impact on the knowledge-sharing process, and knowledge-sharing positively affects the decision making process.

Keywords: knowledge sharing, decision-making, information technology, management support, corroboration, Sultan Qaboos University

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Authors: Hamad Almohamadi, Abdulrahman AlKassem, Majed Alamoudi

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Dumping Aluminum (Al) waste into landfills causes several health and environmental problems. The pyrolysis process could treat Al waste to produce AlCl₃ and H₂. Using the Aspen Plus software, a techno-economic and feasibility assessment has been performed for Al waste pyrolysis. The Aspen Plus simulation was employed to estimate the plant's mass and energy balance, which was assumed to process 100 dry metric tons of Al waste per day. This study looked at two cases of Al waste treatment. The first case produces 355 tons of AlCl₃ per day and 9 tons of H₂ per day without recycling. The conversion rate must be greater than 50% in case 1 to make a profit. In this case, the MSP for AlCl₃ is $768/ton. The plant would generate $25 million annually if the AlCl₃ were sold at $1000 per ton. In case 2 with recycling, the conversion has less impact on the plant's profitability than in case 1. Moreover, compared to case 1, the MSP of AlCl₃ has no significant influence on process profitability. In this scenario, if AlCl₃ were sold at $1000/ton, the process profit would be $58 million annually. Case 2 is better than case 1 because recycling Al generates a higher yield than converting it to AlCl₃ and H₂.

Keywords: aluminum waste, aspen plus, process modelling, fast pyrolysis, techno-economic assessment

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Authors: Mohammad Reza Fooladi

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The patent system which fits with industrial and economic situation in the country, by strengthening research and development, technology transfer and increasing foreign investment can provide economic and industrial growth of the countries. However, the extent and manner of support should be commensurate with the country's conditions and comply with significant rules to have a positive effect on research and development, technology transfer and the amount of foreign investment. The present article tries to while reviewing the state of effectiveness of the patent system on economic growth, to illustrate the characteristics of the patent system fits Afghanistan and according to this matter provide the necessary recommendations about the improvement of laws and regulations related to the patent in Afghanistan.

Keywords: patent, economic growth, technology transfer, Afghanistan

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Authors: Parisa Toloue Hayat Azar

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Businesses have been playing an important role in the economic growth and social welfare of cities; however, they generally have negative reputations regarding their impact on environmental issues regarding sustainability. However, some believe that by incorporating strategic Corporate Social Responsibility (CSR) activities, businesses will be able to solve problems in society, including environmental ones. Besides economic, social and environmental aspects, governance is another essential pillar for creating sustainable communities and cities. Governance plays a key role in the success of sustainable projects or creating long lasting legacies; an example of this can be creating circular supply chain with collaboration between different businesses, which in the end results in positive economic, social and environmental outcomes for everyone. Governance is a very important parameter in creating the legacy of low carbon and environmentally friendly city due to the fact that, besides building energy efficient buildings and infrastructure, citizens who are also part of the success of this system should know about how to behave and collaborate with others to make the system work. By deploying the philosophy of cultural historical activity theory, this paper explains how influential businesses have been and can be still used as a mediating tool for governance purposes, and succeed in creating shared value and lasting legacy within society.

Keywords: business, governance, CSR, sustainability

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Authors: Khalid Ishola Bello

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No condition is permanent in life. This phenomenon is more evident in the socio-economic and political life of man regardless of race, colour or religious affiliation. As the economy of an individual or nation stands to be favourable at one time, it may also experience decline and become unbearable at another time. Muslims, towards the third decade of Islam, experienced economic hardship due to some natural and artificial factors. The recession, which lasted for four years, was rescued by different approaches, and economic prosperity was later regained. Some years ago, Nigeria was drastically affected by an economic recession characterized by high rates of unemployment, illiquidity and inflation, which have caused depression to many individuals and organizations. It is the aim of this paper to look into the causes and remedies of the recession in that early period of Islam in order to suggest a way out of the unfriendly economic situation of Nigeria. An analytical method is adopted to draw some lessons from the situation of Muslims of that time to address the current economic challenges in Nigeria. Though Nigeria is not under any natural disaster, the causes seem to be a deliberate reaction of some Nigerians against the government's attempts to curb corruption at all costs and lapses in some government policies.

Keywords: recession, hardship, spiritual, lessons, early period of Islam

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Authors: Kehinde Damilola Ilesanmi, Dev Datt Tewari

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South Africa is in its post-industrial era moving from the primary and secondary sector to the tertiary sector. The study investigated the impact of the disaggregated energy consumption (coal, oil, and electricity) on the primary, secondary and tertiary sectors of the economy between 1980 and 2012 in South Africa. Using vector error correction model, it was established that South Africa is an energy dependent economy, and that energy (especially electricity and oil) is a limiting factor of growth. This implies that implementation of energy conservation policies may hamper economic growth. Output growth is significantly outpacing energy supply, which has necessitated load shedding. To meet up the excess energy demand, there is a need to increase the generating capacity which will necessitate increased investment in the electricity sector as well as strategic steps to increase oil production. There is also need to explore more renewable energy sources, in order to meet the growing energy demand without compromising growth and environmental sustainability. Policy makers should also pursue energy efficiency policies especially at sectoral level of the economy.

Keywords: causality, economic growth, energy consumption, hypothesis, sectoral output

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Authors: Armend Kelmendi, Adnan Ahmeti

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The purpose of our study was to assess the impact of soccer in the overall wealth fare (education, health, and economic prosperity) of youth in Kosovo (age: 7-18). The research conducted measured a number of parameters (training methodologies, conditions, community leadership impact) in a sample consisting of 6 different football clubs’ academies across the country. Fifty (50) male and female football youngsters volunteered in this study. To generate more reliable results, the analysis was conducted with the help of a set of effective project management tools and techniques (Gantt chart, Logic Network, PERT chart, Work Breakdown Structure, and Budgeting Analysis). The interviewees were interviewed under a specific lens of categories (impact in education, health, and economic prosperity). A set of questions were asked i.e. what has football provided to you and the community you live in?; Did football increase your confidence and shaped your life for better?; What was the main reason you started training in football? The results generated explain how a single sport, namely that of football in Kosovo can make a huge social change, improving key social factors in a society. There was a considerable difference between the youth clubs as far as training conditions are concerned. The study found out that despite financial constraints, two out of six clubs managed to produce twice as more talented players that were introduced to professional primary league teams in Kosovo and Albania, including other soccer teams in the region, Europe, and Asia. The study indicates that better sports policy must be formulated and associated with important financial investments in soccer for it to be considered fruitful and beneficial for players of 18 plus years of age, namely professionals.

Keywords: youth, prosperity, conditions, investments, growth, free movement

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Authors: Ismatilla Mardanov

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There are three types of countries, the first of which is willing to attract foreign direct investment (FDI) in enormous amounts and do whatever it takes to make this happen. Therefore, FDI pours into such countries. In the second cluster of countries, even if the country is suffering tremendously from the shortage of investments, the governments are hesitant to attract investments because they are at the hands of local oligarchs/cartels. Therefore, FDI inflows are moderate to low in such countries. The third type is countries whose companies prefer investing in the most efficient locations globally and are hesitant to invest in the homeland. Sorting countries into such clusters, the present study examines the essential institutions and economic factors that make these countries different. Past literature has discussed various determinants of FDI in all kinds of countries. However, it did not classify countries based on government motivation, institutional setup, and economic factors. A specific approach to each target country is vital for corporate foreign direct investment risk analysis and decisions. The research questions are 1. What specific institutional and economic factors paint the pictures of the three clusters; 2. What specific institutional and economic factors are determinants of FDI; 3. Which of the determinants are endogenous and exogenous variables? 4. How can institutions and economic and political variables impact corporate investment decisions Hypothesis 1: In the first type, country institutions and economic factors will be favorable for FDI. Hypothesis 2: In the second type, even if country economic factors favor FDI, institutions will not. Hypothesis 3: In the third type, even if country institutions favorFDI, economic factors will not favor domestic investments. Therefore, FDI outflows occur in large amounts. Methods: Data come from open sources of the World Bank, the Fraser Institute, the Heritage Foundation, and other reliable sources. The dependent variable is FDI inflows. The independent variables are institutions (economic and political freedom indices) and economic factors (natural, material, and labor resources, government consumption, infrastructure, minimum wage, education, unemployment, tax rates, consumer price index, inflation, and others), the endogeneity or exogeneity of which are tested in the instrumental variable estimation. Political rights and civil liberties are used as instrumental variables. Results indicate that in the first type, both country institutions and economic factors, specifically labor and logistics/infrastructure/energy intensity, are favorable for potential investors. In the second category of countries, the risk of loss of assets is very high due to governmentshijacked by local oligarchs/cartels/special interest groups. In the third category of countries, the local economic factors are unfavorable for domestic investment even if the institutions are well acceptable. Cluster analysis and instrumental variable estimation were used to reveal cause-effect patterns in each of the clusters.

Keywords: foreign direct investment, economy, institutions, instrumental variable estimation

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Authors: Harshan Tee Pee

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Climate elements include surface temperatures, rainfall patterns, humidity, type and amount of cloudiness, air pressure and wind speed and direction. Change in one element can have an impact on the regional climate. The scientific predictions indicate that global climate change will increase the number of extreme events, leading to more frequent natural hazards. Global warming is likely to intensify the risk of drought in certain parts and also leading to increased rainfall in some other parts. Drought is a slow advancing disaster and creeping phenomenon– which accumulate slowly over a long period of time. Droughts are naturally linked with aridity. But droughts occur over most parts of the world (both wet and humid regions) and create severe impacts on agriculture, basic household welfare and ecosystems. Drought condition occurs at least every three years in India. India is one among the most vulnerable drought prone countries in the world. The economic impacts resulting from extreme environmental events and disasters are huge as a result of disruption in many economic activities. The focus of this paper is to develop a comprehensive understanding about the distributional impacts of disaster, especially impact of drought on agricultural production and income through a panel study (drought year and one year after the drought) in Raikhel village, Maharashtra, India. The major findings of the study indicate that cultivating area as well as the number of cultivating households reduced after the drought, indicating a shift in the livelihood- households moved from agriculture to non-agriculture. Decline in the gross cropped area and production of various crops depended on the negative income from these crops in the previous agriculture season. All the landholding categories of households except landlords had negative income in the drought year and also the income disparities between the households were higher in that year. In the drought year, the cost of cultivation was higher for all the landholding categories due to the increased cost for irrigation and input cost. In the drought year, agriculture products (50 per cent of the total products) were used for household consumption rather than selling in the market. It is evident from the study that livelihood which was based on natural resources became less attractive to the people to due to the risk involved in it and people were moving to less risk livelihood for their sustenance.

Keywords: climate change, drought, agriculture economics, disaster impact

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Authors: Gheyzer Villegas, Edgardo Cedeño, Veruska Mata, Edmundo Chauran

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One of the most significant changes that occurred in global commerce was the emergence of cryptocurrencies and blockchain technology. There is still much debate about the adoption of the economic model based on crypto assets, and myriad international projects and initiatives are being carried out to try and explore the potential that this new field offers. The Hive blockchain is a prime example of this, featuring two use cases: of how trade based on its native currencies can give successful results in the exchange of goods and services and in the financing of social impact projects. Its decentralized management model and visionary administration of its development fund have become a key part of its success.

Keywords: Hive, business, network, blockchain

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Authors: T. H. Bitebe, T. M. Lima, F. Charrua-Santos, C. J. Matias Oliveira

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This study aims to present a proposal for an economic integration model for the development of the manufacturing industry in Cabinda, Angola. It seeks to analyze the degree of economic integration of Cabinda and the dynamics of the manufacturing industry. Therefore, in the same way, to gather information to support the decision-making for public financing programs that will aim at the disengagement of the manufacturing industry in Angola and Cabinda in particular. The Cabinda Province is the 18^th of Angola, the enclave is located in a privileged area of the African and arable land.

Keywords: economic integration, industrial development, Cabinda industry, Angola

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Authors: Hanadi Mubarak AL-Mubaraki, Michael Busler

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Innovation is the process of making changes, differences, and novelties in the products and services, adding values and business practices to create economic and social benefit. The purpose of this paper is to identify the strengths and weaknesses of innovation programs in developed and developing countries. We used a mixed-methods approach, quantitative as survey and qualitative as a multi-case study to examine innovation best practices in developed and developing countries. In addition, four case studies of innovation organisations based on the best practices and successful implementation in the developed and developing countries are selected for examination. The research findings provide guidance, suggestions, and recommendations for future implementation in developed and developing countries for practitioners such as policy makers, governments, funded organizations, and strategic institutions. In conclusion, innovation programs are vital tools for economic growth, knowledge, and technology transfer based on the several indicators such as creativity, entrepreneurship, role of government, role of university, strategic focus, new products, survival rate, job creation, start-up companies, and number of patents. The authors aim to conduct future research which will include a comparative study of innovation case studies between developed and developing countries for policy implications worldwide. The originality of this study makes a contribution to the current literature about the innovation best practice in developed and developing countries.

Keywords: economic development, entrepreneurship, innovation program, developed countries

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Authors: Uche Lucy Onyekwelu, Uche B. Ugwuanyi

Abstract:

Suffice to say that socio-economic disruptions of any form is likely to affect the wellbeing of the citizenry. The upsurge of social disequilibrium caused by the incessant disruptive tendencies exhibited by youths and some others in Nigeria are not helping matters. In Nigeria the social unrest has caused different forms of draw backs in Socio Economic Development. This study has empirically evaluated the impact of insecurity and insurgency on the Economic Development of Nigeria. The paper noted that the different forms of insecurity in Nigeria are namely: Insurgency and Banditry as witnessed in Northern Nigeria; Militancy: Niger Delta area and self-determination groups pursuing various forms of agenda such as Sit –at- Home Syndrome in the South Eastern Nigeria and other secessionist movements. All these have in one way or the other hampered Economic development in Nigeria. Data for this study were collected through primary and secondary sources using questionnaire and some existing documentations. Cost of investment in different aspects of security outfits in Nigeria represents the independent variable while the differentials in the Gross Domestic Product(GDP) and Human Development Index(HDI) are the measures of the dependent variable. Descriptive statistics and Simple Linear Regression analytical tool were employed in the data analysis. The result revealed that Insurgency/Insecurity negatively affect the economic development of the different parts of Nigeria. Following the findings, a model to analyse the effect of insecurity and insurgency was developed, named INSECUREDEVNIG. It implies that the economic development of Nigeria will continue to deteriorate if insurgency and insecurity continue. The study therefore recommends that the government should do all it could to nurture its human capital, adequately fund the state security apparatus and employ individuals of high integrity to manage the various security outfits in Nigeria. The government should also as a matter of urgency train the security personnel in intelligence cum Information and Communications Technology to enable them ensure the effectiveness of implementation of security policies needed to sustain Gross Domestic Product and Human Capital Index of Nigeria.

Keywords: insecurity, insurgency, gross domestic product, human development index, Nigeria

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Authors: Syed Hassan Amjad

Abstract:

In today’s competitive environment, in order for a company to exist, it must continually improve its Performance by reducing cost, improving quality and productivity, and easy access to market.The purpose of this thesis is to check the firm financial growth and performance and which type of factors affect the firm financial performance. This paper examines the key determinants of firm financial performance. We will differentiate between financial and non financial drivers of the firm financial performance. For the measurement of the firm financial performance there are many ways but all the measure had been taken in aggregation, such as debt, tax rate, operating expenses, earning per share and economic conditions. This study has also been done in developed countries but these researches show that foreign companies face many difficulties inimproving the firm financial performance. In findings we found that marketing expenditures and international diversification had a positive impact on firm valuation. In research also found that a firm's ownership composition, particularly the level of equity ownership by Domestic Financial Institutions and Dispersed Public Shareholders, and the leverage of the firm, tax rate and economic conditions were important factors affecting its financial performance.

Keywords: debt, tax rate, firm financial performance, operating expenses, dividend per share, economic conditions

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Authors: Shosh Shahrabani, Sharon Teitler-Regev, Helena Desivilya Syna, Fotini Voulgaris, Evangelos Tsoukatos, Vitor Ambrosio, Sandra M. Correia Loureiro

Abstract:

International crises that affect tourism, such as terror attacks, political unrest, and economic crises have become more frequent, and their influence has become broader. The influence of such extreme events depends on their salience in the tourists' awareness. Hence, it is important to understand the mechanisms underlying tourists' selection of travel destinations, especially their perceptions of crisis-related events and the impact of the sociopolitical and economic context in their countries of origin. The current study examined how the socio-political and economic context in the home countries of potential young tourists affected their selection of travel destinations. The objective was to elucidate how the salience of various crises (economic and political) in the tourists' perceptions, due to their experiences at home, color their construal of destinations affected by similar hazards and influence their travel intentions. The study focused on student tourists from Israel, Greece, and Portugal. Today about a fifth of international tourism is based on young people, especially students. These countries were chosen since Greece and Portugal are in the midst of economic crises. In addition, Greece and Portugal have experienced political instability, while Israel has security-related problems (including terrorist incidents). In 2013, a total of 648 students, responded to a questionnaire that included questions concerning attitudes and risk perceptions regarding travel to destinations with various risk hazards as well as socio-demographic details. The results indicate that over half of the Israelis intend to visit Greece or Portugal. The majority of the Portuguese intend to visit Greece, while less than a third of them intend to visit Israel. About half of the Greeks intend to visit Portugal, and most of them do not intend to visit Israel. The results indicate that greater perceived importance of economic crises mitigates the intention to travel to destinations with economic crises for tourists from origin countries that are also marked by economic crises, such as Greece and Portugal. However, for tourists from Israel, a country with a relatively stable economy, issues related to the economy barely affect their intention to travel to the other two countries. The findings also suggest that Greeks and Portuguese who are highly concerned about political unrest are unlikely to select Israel as a tourist destination. In addition, strong apprehension regarding terrorism impedes the intention to travel to destinations marked by terrorist incidents, such as Israel. The current research contributes to the existing literature by highlighting the impact of travelers' personal previous experience with crisis on their risk perceptions and in turn on their intentions to travel to countries with similar risks. Therefore, in a world where such incidents are on the rise, understanding tourists' risk perceptions and behavior and the factors influencing their destination-related decisions are crucial for countries that wish to increase the numbers of incoming tourists.

Keywords: economic crises, political instability, risk perception, young tourists

Procedia PDF Downloads 442