Search results for: bank productivity

Authors: Salah Al-Din I. Badran, Samad Ahmadi, Ismail Shahin

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A blind source separation method is proposed; in this method, we use a non-uniform filter bank and a novel normalisation. This method provides a reduced computational complexity and increased convergence speed comparing to the full-band algorithm. Recently, adaptive sub-band scheme has been recommended to solve two problems: reduction of computational complexity and increase the convergence speed of the adaptive algorithm for correlated input signals. In this work, the reduction in computational complexity is achieved with the use of adaptive filters of orders less than the full-band adaptive filters, which operate at a sampling rate lower than the sampling rate of the input signal. The decomposed signals by analysis bank filter are less correlated in each subband than the input signal at full bandwidth, and can promote better rates of convergence.

Keywords: blind source separation, computational complexity, subband, convergence speed, mixture

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Authors: Chandra Shekhar Verma, Umesh Chandra Mishra

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Blast Furnace performance mainly depends on the quality of sinter as a major portion of iron-bearing material occupies by it hence its quality w.r.t. Tumbler Index (TI), Reducibility Index (RI) and Reduction Degradation Index (RDI) are the key performance indicators of sinter plant. Now it became very tough to maintain the desired quality with the increasing alumina (Al₂O₃) content in iron fines and study is focused on it. Alumina is a refractory material and required more heat input to fuse thereby affecting the desired sintering temperature, i.e. 1300°C. It goes in between the grain boundaries of the bond and makes it weaker. Sinter strength decreases with increasing alumina content, and weak sinter generates more fines thereby reduces the net sinter production as well as plant productivity. Presence of impurities beyond the acceptable norm: such as LOI, Al₂O₃, MnO, TiO₂, K₂O, Na₂O, Hydrates (Goethite & Limonite), SiO₂, phosphorous and zinc, has led to greater challenges in the thrust areas such as productivity, quality and cost. The ultimate aim of this study is maintaining the sinter strength even with high Al₂O without hampering the plant productivity. This study includes mineralogy test of iron fines to find out the fraction of different phases present in the ore and phase analysis of product sinter to know the distribution of different phases. Corrections were done focusing majorly on varying Al₂O₃/SiO₂ ratio, basicity: B2 (CaO/SiO₂), B3 (CaO+MgO/SiO₂) and B4 (CaO+MgO/SiO₂+Al₂O₃). The concept of Alumina / Silica ratio, B3 & B4 found to be useful. We used to vary MgO, Al₂O₃/SiO₂, B2, B3 and B4 to get the desired sinter strength even at high alumina (4.2 - 4.5%) in sinter. The study concludes with the establishment of B4, and Al₂O₃/SiO₂ ratio in between 1.53-1.60 and 0.63- 0.70 respectively and have achieved tumbler index (Drum Index) 76 plus with the plant productivity of 1.58-1.6 t/m2/hr. at JSPL, Raigarh. Study shows that despite of high alumina in sinter, its physical quality can be controlled by maintaining the above-mentioned parameters.

Keywords: Basicity-2, Basicity-3, Basicity-4, Sinter

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Authors: Munnujahan Ara

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In this paper, we investigate the effect of friendly jamming power allocation strategies on the achievable average secrecy rate over a bank of parallel fading wiretap channels. We investigate the achievable average secrecy rate in parallel fading wiretap channels subject to Rayleigh and Rician fading. The achievable average secrecy rate, due to the presence of a line-of-sight component in the jammer channel is also evaluated. Moreover, we study the detrimental effect of correlation across the parallel sub-channels, and evaluate the corresponding decrease in the achievable average secrecy rate for the various fading configurations. We also investigate the tradeoff between the transmission power and the jamming power for a fixed total power budget. Our results, which are applicable to current orthogonal frequency division multiplexing (OFDM) communications systems, shed further light on the achievable average secrecy rates over a bank of parallel fading channels in the presence of friendly jammers.

Keywords: fading parallel channels, wire-tap channel, OFDM, secrecy capacity, power allocation

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Authors: Perpetual Nwakaego Ibe

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The Millennium Development Goals (MDGs), were an integrated project formed to eradicate many unnatural situations the citizens of the third world country may found themselves in. The MDGs, to be a sustainable project for the future depends 100% on the actions of governments, multilateral institutions and civil society. This paper first looks at the political views on the MDGs and relates it to the current electoral situations around the country by underlining the drastic changes over the few months. The second part of the paper presents ICT in tertiary institutions as one of the solutions in terms of the success of the MDGs. ICT is vital in all phases of educational process and development of the cloud connectivity is an added advantage of Information and Communication Technology (ICT) for sharing a common data bank for research purposes among UNICEF, RED CROSS, NPS, INEC, NMIC, and WHO. Finally, the paper concludes with areas that needs twigging and recommendations for the tertiary institutions committed to delivering an ambitious set of goals. A combination of observation, and document materials for data gathering was employed as the methodology for carrying out this research.

Keywords: MDG, ICT, data bank, database

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Authors: Mergleda Hodo

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All national governments aim to achieve economic equilibrium to build sustainable welfare, political stability, and economic equilibrium. There are various instruments to stimulate economic development and growth and achieve macroeconomic objectives. After the collapse of the political and economic system in the 1990s, some countries faced the complex challenge of economic development. This study aims to determine, based on empirical research, whether and to what extent tax revenue has an impact on the economic development of Albania. Furthermore, it gives an overview of the ways in which high tax burdens on the western Balkan countries have negatively affected foreign investment and reduced economic growth. This analysis is important for these selected countries, as the financial system has changed significantly over the years and has been affected significantly by a period of economic transition. The analysis is performed based on secondary data possessed by the World Bank and the central bank of each participating country between 2005 and 2018. The research findings indicate that tax policy affects, to a significant extent, the economic development of Albania. An efficient tax system is when individuals are willing to pay tax liability which will help in improving the economic well-being of a country.

Keywords: tax, development, economic growth, tax revenue

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Authors: Mohamed Aljarallah, Mohamed Nurullah, George Saridakis

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This paper aims and objectives are to investigate how the structural change of the financial regulatory bodies affect the financial supervision and how the regulators can design such a structure with taking into account; the Central Bank, the conduct of business and the prudential regulators, it will also consider looking at the structure of the international regulatory bodies and what barriers are found. There will be five questions to be answered; should conduct of business and prudential regulation be separated? Should the financial supervision and financial stability be separated? Should the financial supervision be under the Central Bank? To what extent the politician should intervene in changing the regulatory and supervisory structure? What should be the regulatory and supervisory structure when there is financial conglomerate? Semi structure interview design will be applied. This research sample selection contains a collective of financial regulators and supervisors from the emerged and emerging countries. Moreover, financial regulators and supervisors must be at a senior level at their organisations. Additionally, senior financial regulators and supervisors would come from different authorities and from around the world. For instance, one of the participants comes from the International Bank Settlements, others come from European Central Bank, and an additional one will come from Hong Kong Monetary Authority and others. Such a variety aims to fulfil the aims and objectives of the research and cover the research questions. The analysis process starts with transcription of the interview, using Nvivo software for coding, applying thematic interview to generate the main themes. The major findings of the study are as follow. First, organisational structure changes quite frequently if the mandates are not clear. Second, measuring structural change is difficult, which makes the whole process unclear. Third, effective coordination and communication are what regulators looking for when they change the structure and that requires; openness, trust, and incentive. In addition to that, issues appear during the event of crisis tend to be the reason why the structure change. Also, the development of the market sometime causes a change in the regulatory structure. And, some structural change occurs simply because of the international trend, fashion, or other countries' experiences. Furthermore, when the top management change the structure tends to change. Moreover, the structure change due to the political change, or politicians try to show they are doing something. Finally, fear of being blamed can be a driver of structural change. In conclusion, this research aims to provide an insight from the senior regulators and supervisors from fifty different countries to have a clear understanding of why the regulatory structure keeps changing from time to time through a qualitative approach, namely, semi-structure interview.

Keywords: financial regulation bodies, financial regulatory structure, global financial regulation, financial crisis

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Authors: Mesbaholdin Salami, Farzad Movahedi Sobhani, Mohammad Sadegh Ghazizadeh

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Evaluation of organizational performance is among the most important measures that help organizations and entities continuously improve their efficiency. Organizations can use the existing data and results from the comparison of units under investigation to obtain an estimation of their performance. The Malmquist Productivity Index (MPI) is an important index in the evaluation of overall productivity, which considers technological developments and technical efficiency at the same time. This article proposed a model based on the multistage MPI, considering limited data (Grey’s theory). This model can evaluate the performance of units using limited and uncertain data in a multistage process. It was applied by the electricity market manager to Iran’s electric power supply chain (EPSC), which contains uncertain data, to evaluate the performance of its actors. Results from solving the model showed an improvement in the accuracy of future performance of the units under investigation, using the Grey’s system theory. This model can be used in all case studies, in which MPI is used and there are limited or uncertain data.

Keywords: Malmquist Index, Grey's Theory, CCR Model, network data envelopment analysis, Iran electricity power chain

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Authors: P. Saravanakumar, N. Raja, M. Rameshkumar, D. Mohankumar, R. Sateeshkumar, B. Maheshwari

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This research work is designed using Microsoft VB. Net as front end and MySQL as back end. The project deals with secure the user transaction in the ATM system. This application contains the option for sending the failed transaction details to the particular customer by using the SMS. When the customer withdraws the amount from the Bank ATM system, sometimes the amount will not be dispatched but the amount will be debited to the particular account. This application is used to avoid this type of problems in the ATM system. In this proposed system using IR technique to detect the dispatched amount. IR Transmitter and IR Receiver are placed in the path of cash dispatch. It is connected each other through the IR signal. When the customers withdraw the amount in the ATM system then the amount will be dispatched or not is monitored by IR Receiver. If the amount will be dispatched then the signal will be interrupted between the IR Receiver and the IR Transmitter. At that time, the monitoring system will be reduced their particular withdraw amount on their account. If the cash will not be dispatched, the signal will not be interrupted, at that time the particular withdraw amount will not be reduced their account. If the transaction completed successfully, the transaction details such as withdraw amount and current balance can be sent to the customer via the SMS. If the transaction fails, the transaction failed message can be send to the customer.

Keywords: ATM system, monitoring system, IR Transmitter, IR Receiver

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Authors: Minjuan Sun

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Ever since the late 1990s, China has experienced explosive growth in consumer lending, especially in short-term consumer loans, among which, the growth rate of non-bank lending has surpassed bank lending due to the development in financial technology. On the other hand, China does not have a universal credit scoring and registration system that can guide lenders during the processes of credit evaluation and risk control, for example, an individual’s bank credit records are not available for online lenders to see and vice versa. Given this context, the purpose of this paper is three-fold. First, we explore if and how alternative digital footprint data can be utilized to assess borrower’s creditworthiness. Then, we perform a comparative analysis of machine learning methods for the canonical problem of credit default prediction. Finally, we analyze, from an institutional point of view, the necessity of establishing a viable and nationally universal credit registration and scoring system utilizing online digital footprints, so that more people in China can have better access to the consumption loan market. Two different types of digital footprint data are utilized to match with bank’s loan default records. Each separately captures distinct dimensions of a person’s characteristics, such as his shopping patterns and certain aspects of his personality or inferred demographics revealed by social media features like profile image and nickname. We find both datasets can generate either acceptable or excellent prediction results, and different types of data tend to complement each other to get better performances. Typically, the traditional types of data banks normally use like income, occupation, and credit history, update over longer cycles, hence they can’t reflect more immediate changes, like the financial status changes caused by the business crisis; whereas digital footprints can update daily, weekly, or monthly, thus capable of providing a more comprehensive profile of the borrower’s credit capabilities and risks. From the empirical and quantitative examination, we believe digital footprints can become an alternative information source for creditworthiness assessment, because of their near-universal data coverage, and because they can by and large resolve the "thin-file" issue, due to the fact that digital footprints come in much larger volume and higher frequency.

Keywords: credit score, digital footprint, Fintech, machine learning

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Authors: Rajendra Kumar Isaac, Monisha Isaac

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India, having a vast cultivable area and regional climatic variability, encounters water Resource Management Problems at various levels. The agricultural production of India needs to be increased to meet out projected population growth. Sustainable water resource is the only option to ensure food security, especially in northern Indian states, where the ground and surface water resources are fast depleting. Various tools and technologies available for management of scarce water resources have been discussed. It was concluded that multiple use of water, adopting latest water management options, identification of climate adoptable cropping and farming systems, can enhance water productivity and would encounter the fast growing water management and water shortage problems in Indian agriculture.

Keywords: water resource management, sustainable, water management technologies, water productivity, agriculture

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Authors: Hong Li, Haiyang Yu, Shiqing Cheng, Nai Cao, Zhiliang Shi

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Unconventional resources have gradually become the main direction for oil and gas exploration and development. However, the productivity of gas wells, the level of water production, and the seepage law in tight fractured gas reservoirs are very different. These are the reasons why production prediction is so difficult. Firstly, a three-dimensional multi-scale fracture and multiphase mathematical model based on an embedded discrete fracture model (EDFM) is established. And the material balance method is used to calculate the water body multiple according to the production performance characteristics of water-producing gas well. This will help construct a 'virtual water body'. Based on these, this paper presents a numerical simulation process that can adapt to different production modes of gas wells. The research results show that fractures have a double-sided effect. The positive side is that it can increase the initial production capacity, but the negative side is that it can connect to the water body, which will lead to the gas production drop and the water production rise both rapidly, showing a 'scissor-like' characteristic. It is worth noting that fractures with different angles have different abilities to connect with the water body. The higher the angle of gas well development, the earlier the water maybe break through. When the reservoir is a single layer, there may be a stable production period without water before the fractures connect with the water body. Once connected, a 'scissors shape' will appear. If the reservoir has multiple layers, the gas and water will produce at the same time. The above gas-water relationship can be matched with the gas well production date of the Xujiahe gas reservoir in the Sichuan Basin. This method is used to predict the productivity of a well with hydraulic fractures in this gas reservoir, and the prediction results are in agreement with on-site production data by more than 90%. It shows that this research idea has great potential in the productivity prediction of water-producing gas wells. Early prediction results are of great significance to guide the design of development plans.

Keywords: EDFM, multiphase, multilayer, water body

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Authors: Loreta Kaklauskiene, Arturas Kaklauskas

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This employee productivity and work well-being effective system aims to maximise the work performance of personnel and boost well-being in offices. Affective computing, decision support, and knowledge-based systems were used in our research. The basis of this effective system is our European Patent application (No: EP 4 020 134 A1) and two Lithuanian patents (LT 6841, LT 6866). Our study examines ways to support efficient employee productivity and well-being by employing mass-customised, personalised office environment. Efficient employee performance and well-being are managed by changing mass-customised office environment factors such as air pollution levels, humidity, temperature, data, information, knowledge, activities, lighting colours and intensity, scents, media, games, videos, music, and vibrations. These aspects of management generate a customised, adaptive environment for users taking into account their emotional, affective, and physiological (MAP) states measured and fed into the system. This research aims to develop an innovative method and system which would analyse, customise and manage a personalised office environment according to a specific user’s MAP states in a cohesive manner. Various values of work spaces (e.g., employee utilitarian, hedonic, perceived values) are also established throughout this process, based on the measurements that describe MAP states and other aspects related to the office environment. The main contribution of our research is the development of a real-time mass-customised office environment to boost employee performance and well-being. Acknowledgment: This work was supported by Project No. 2020-1-LT01-KA203-078100 “Minimizing the influence of coronavirus in a built environment” (MICROBE) from the European Union’s Erasmus + program.

Keywords: effective decision support and a knowledge-based system, human resource management, employee productivity and work well-being, affective computing

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Authors: Sadia Bibi, Karim Ullah

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Islamic banks have excess liquidity, which needs proper management to earn a high rate of return on them to remain competitive. However, they lack assets-backed avenues and rely on a few sukuks, which led them to liquidity management issues. Financial engineering comes forward to innovate and develop instruments for the requisite financial problem. Still, they face many challenges, explored in the context of liquidity management in Islamic banks. The rigorous literature review shows that Shariah compliance, competition from the conventional banks, lack of sufficient instruments, derivatives are still not accepted as legitimate products, the inter-bank market being less developed, and no possibility of lender of last resort is the six significant constraints to financial engineering for liquidity management of Islamic banks. To further explore the problem, a multiple case study strategy is used to extend and develop the theory with the philosophical stance of social constructivism. Narrative in-depth interviews over the telephone are conducted with key personnel at treasury departments of selected banks. Data is segregated and displayed using NVivo 11 software, and the thematic analysis approach identifies themes related to the constraints. The exploration of further constraints to financial engineering for liquidity management of Islamic banks achieves the research aim. The theory is further developed by the addition of three more constraints to the theoretical framework, which are i) lack of skilled human resources, ii) lack of unified vision, and iii) lack of government support to the Islamic banks. These study findings are fruitful for the use of the government, regulatory authorities of the banking sector, the State Bank of Pakistan (Central Bank), and the product design & development division of Islamic banks to make the financial engineering process feasible and resolve liquidity management issues of Islamic banks.

Keywords: financial engineering, liquidity management, Islamic banks, shariah compliance

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Authors: Davoud Maleki

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Today, education and investment in human capital is a long-term investment without which the economy will be stagnant Stayed. Higher education represents a type of investment in human resources by providing and improving knowledge, skills and Attitudes help economic development. Providing efficient human resources by increasing the efficiency and productivity of people and on the other hand with Expanding the boundaries of knowledge and technology and promoting technology such as the responsibility of training human resources and increasing productivity and efficiency in High specialized levels are the responsibility of universities. Therefore, the university plays an infrastructural role in economic development and growth because education by creating skills and expertise in people and improving their ability.In recent decades, Iran's higher education system has been faced with many problems, therefore, scholars have looked for it is to identify and validate the causal factors affecting the responsiveness and productivity of non-governmental universities. The data in the qualitative part is the result of semi-structured interviews with 25 senior and middle managers working in the units It was Islamic Azad University of Tehran province, which was selected by theoretical sampling method. In data analysis, stepwise method and Analytical techniques of Strauss and Corbin (1992) were used. After determining the central category (answering for the sake of the beneficiaries) and using it in order to bring the categories, expressions and ideas that express the relationships between the main categories and In the end, six main categories were identified as causal factors affecting the university's responsiveness and productivity.They are: 1- Scientism 2- Human resources 3- Creating motivation in the university 4- Development based on needs assessment 5- Teaching process and Learning 6- University quality evaluation. In order to validate the response model obtained from the qualitative stage, a questionnaire The questionnaire was prepared and the answers of 146 students of Master's degree and Doctorate of Islamic Azad University located in Tehran province were received. Quantitative data in the form of descriptive data analysis, first and second stage factor analysis using SPSS and Amos23 software were analyzed. The findings of the research indicated the relationship between the central category and the causal factors affecting the response The results of the model test in the quantitative stage confirmed the generality of the conceptual model.

Keywords: accountability, productivity, non-governmental, universities, foundation data theory

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Authors: Khan Sarfaraz, Mohammad Ali Mia

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Money laundering and other financial crime have become a global threat in recent years, impacting both developed and poor countries. In developing countries like Bangladesh, it is more difficult to combat financial crime than in developing countries because of the inadequate regulatory environment and vulnerable financial system. Bangladesh's central bank issues guidelines to facilitate the implementation of the prevention of the money laundering act. According to the guideline of Bangladesh Bank, all financial institution has to develop anti-money laundering policy to ensure the safety and soundness of their institutions. The paper aims to focus on the role of authorized agencies in combating financial crime. In this paper, the latest trends in financial crimes have been discussed from global and Asian perspectives. The preventive measures for money laundering and other financial crimes have been discussed elaborately. So far, financial crime is a sophisticated and dynamic crime, and criminals continuously took innovative processes to use the financial system to launder money. The study will take a step in pointing out new techniques, effects and challenges of financial crime in Bangladesh.

Keywords: financial crime, illegal money transfer, online gambling, money laundering, authorized agencies

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Authors: Emilija Tribocka

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This contribution presents parts of an ongoing study of a diachronic relationship between two weak verb classes in Norwegian, the a-class (cf. the paradigm of ‘throw’: kasta – kastar – kasta – kasta) and the e-class (cf. the paradigm of ‘buy’: kjøpa – kjøper – kjøpte – kjøpt). The study investigates inflection class shifts between the two classes with Old Norse, the ancestor of Modern Norwegian, as a starting point. Examination of inflection in 38 verbs in four chosen dialect areas (106 places of attestations) demonstrates that the shifts from the a-class to the e-class are widespread to varying degrees in three out of four investigated areas and are more common than the shifts in the opposite direction. The diachronic productivity of the e-class is unexpected for several reasons. There is general agreement that type frequency is an important factor influencing productivity. The a-class (53% of all weak verbs) was more type frequent in Old Norse than the e-class (42% of all weak verbs). Thus, given the type frequency, the expansion of the e-class is unexpected. Furthermore, in the ‘core’ areas of expanded e-class inflection, the shifts disregard phonological principles creating forms with uncomfortable consonant clusters, e.g., fiskte instead of fiska, the preterit of fiska ‘fish’. Later on, these forms may be contracted, i.e., fiskte > fiste. In this contribution, two factors influencing the shifts are presented: phonological form and token frequency. Verbs with the stem ending in a consonant cluster, particularly when the cluster ends in -t, hardly ever shift to the e-class. As a matter of fact, verbs with this structure belonging to the e-class in Old Norse shift to the a-class in Modern Norwegian, e.g., ON e-class verb skipta ‘change’ shifts to the a-class. This shift occurs as a result of the lack of morpho-phonological transparency between the stem and the preterit suffix of the e-class, -te. As there is a phonological fusion between the stem ending in -t and the suffix beginning in -t, the transparent a-class inflection is chosen. Token frequency plays an important role in the shifts, too, in some dialects. In one of the investigated areas, the most token frequent verbs of the ON e-class remain in the e-class (e.g., høyra ‘hear’, leva ‘live’, kjøpa ‘buy’), while less frequent verbs may shift to the a-class. Furthermore, the results indicate that the shift from the a-class to the e-class occurs in some of the most token frequent verbs of the ON a-class in this area, e.g., lika ‘like’, lova ‘promise’, svara ‘answer’. The latter is unexpected as frequent items tend to remain stable. This study presents a case of unexpected productivity, demonstrating that minor patterns can grow and outdo major patterns. Thus, type frequency is not the only factor that determines productivity. The study addresses the role of phonological form and token frequency in the spread of inflection patterns.

Keywords: inflection class, productivity, token frequency, phonological form

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Authors: M. A. Ojo, O. A. Ojo, A. I. Odine, A. Ogaji

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The study examined marginal productivity analysis of small scale yam and cassava farmers in Kogi State, Nigeria. Data used for the study were obtained from primary source using a multi-stage sampling technique with structured questionnaires administered to 150 randomly selected yam and cassava farmers from three Local Government Areas of the State. Description statistics, data envelopment analysis and Cobb-Douglas production function were used to analyze the data. The DEA result on the overall technical efficiency of the farmers showed that 40% of the sampled yam and cassava farmers in the study area were operating at frontier and optimum level of production with mean technical efficiency of 1.00. This implies that 60% of the yam and cassava farmers in the study area can still improve their level of efficiency through better utilization of available resources, given the current state of technology. The results of the Cobb-Douglas analysis of factors affecting the output of yam and cassava farmers showed that labour, planting materials, fertilizer and capital inputs positively and significantly affected the output of the yam and cassava farmers in the study area. The study further revealed that yam and cassava farms in the study area operated under increasing returns to scale. This result of marginal productivity analysis further showed that relatively efficient farms were more marginally productive in resource utilization This study also shows that estimating production functions without separating the farms to efficient and inefficient farms bias the parameter values obtained from such production function. It is therefore recommended that yam and cassava farmers in the study area should form cooperative societies so as to enable them have access to productive inputs that will enable them expand. Also, since using a single equation model for production function produces a bias parameter estimates as confirmed above, farms should, therefore, be decomposed into efficient and inefficient ones before production function estimation is done.

Keywords: marginal productivity, DEA, production function, Kogi state

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Authors: Alain Villemeur

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The relationships between the profit share in income on the one hand and the growth rates of output and employment on the other hand have been studied for 17 advanced economies since 1961. The vast majority (98%) of annual values for the profit share fall between 20% and 40%, with an average value of 33.9%. For the 17 advanced economies, Gross Domestic Product and productivity growth rates tend to fall as the profit share in income rises. For the employment growth rates, the relationships are complex; nevertheless, over long periods (1961-2000), it appears that the more job-creating economies are Australia, Canada, and the United States; they have experienced a profit share close to 1/3. This raises a number of questions, not least the value of 1/3 for the profit share and its role in macroeconomic fundamentals. To explain these facts, an endogenous growth model is developed. This growth and distribution model reconciles the great ideas of Kaldor (economic growth as a chain reaction), of Keynes (effective demand and marginal efficiency of capital) and of Ricardo (importance of the wage-profit distribution) in an economy facing creative destruction. A production function is obtained, depending mainly on the growth of employment, the rate of net investment and the profit share in income. In theory, we show the existence of incentives: an incentive for job creation when the profit share is less than 1/3 and another incentive for job destruction in the opposite case. Thus, increasing the profit share can boost the employment growth rate until it reaches the value of 1/3; otherwise lowers the employment growth rate. Three key findings can be drawn from these considerations. The first reveals that the best GDP and productivity growth rates are obtained with a profit share of less than 1/3. The second is that maximum job growth is associated with a 1/3 profit share, given the existence of incentives to create more jobs when the profit share is less than 1/3 or to destroy more jobs otherwise. The third is the decline in performance (GDP growth rate and productivity growth rate) when the profit share increases. In conclusion, increasing the profit share in income weakens GDP growth or productivity growth as a long-term trend, contrary to the trickle-down hypothesis. The employment growth rate is maximum for a profit share in income of 1/3. All these lessons suggest macroeconomic policies considering the profit share in income.

Keywords: advanced countries, GDP growth, employment growth, profit share, economic policies

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Authors: Mehmet Savsar

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Several factors affect productivity of Food Processing Assembly Lines (FPAL). Engineers and line managers usually do not recognize some of these factors and underutilize their production/assembly lines. In this paper, a special food processing assembly line is studied in detail, and procedures are presented to illustrate how productivity and efficiency of such lines can be increased. The assembly line considered produces ten different types of freshly prepared salads on the same line, which is called mixed model assembly line. Problems causing delays and inefficiencies on the line are identified. Line balancing and related tools are used to increase line efficiency and minimize balance delays. The procedure and the approach utilized in this paper can be useful for the operation managers and industrial engineers dealing with similar assembly lines in food processing industry.

Keywords: assembly lines, line balancing, production efficiency, bottleneck

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Authors: M. van der Bank, C. M. van der Bank

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Alternative Dispute Resolution denotes all forms of dispute resolution other than litigation or adjudication through the courts. This definition of Alternative Dispute Resolution, however, makes no mention of a vital consideration. ADR is the generally accepted acronym for alternative dispute resolution. Despite the choice not to proceed before a court or statutory tribunal, ADR will still be regulated by law and by the Constitution. Fairness is one of the core values of the South African constitutional order. Environmental disputes occur frequently, but due to delays and costs, ADR is a mechanism to resolve this kind of disputes which is a resolution of non-judicial mechanism. ADR can be used as a mechanism in environmental disputes that are less expensive and also more expeditious than formal litigation. ADR covers a broad range of mechanisms and processes designed to assist parties in resolving disputes creatively and effectively. In so far as this may involve the selection or design of mechanisms and processes other than formal litigation, these mechanisms and processes are not intended to supplant court adjudication, but rather to supplement it. A variety of ADR methods have been developed to deal with numerous problems encountered during environmental disputes. The research questions are: How can ADR facilitate environmental disputes in South Africa? Are they appropriate? And what improvements should be made?

Keywords: alternative dispute, environmental disputes, non-judicial, resolution and settlement

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Authors: Yessi Rahmawati, Andiga Kusuma Nur Ichsan, Fitria Nur Anggraeni

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Climate change is one of the focus studies that many researchers focus on in the present world, either in the emerging countries or developed countries which is one of the main pillars on Sustainable Development Goals (SDGs). There is on-going discussion that climate change can affect natural disaster, namely drought, storm, flood, and many others; and also the impact on human life. East Java is the best performances and has economic potential that should be utilized. Despite the economic performance and high agriculture productivity, East Java has the highest number of people under the poverty line. The present study is to measuring the contribution of drought and productivity of agriculture to the poverty in East Java, Indonesia, using spatial econometrics analysis. The authors collect data from 2008 – 2015 from Indonesia’s Ministry of Agriculture, Natural Disaster Management Agency (BNPB), and Official Statistic (BPS). First, the result shows the existence of spatial autocorrelation between drought and poverty. Second, the present research confirms that there is strong relationship between drought and poverty. the majority of farmer in East Java are still relies on the rainfall and traditional irrigation system. When the drought strikes, mostly the farmer will lose their income; make them become more vulnerable household, and trap them into poverty line. The present research will give empirical studies regarding drought and poverty in the academics world.

Keywords: SDGs, drought, poverty, Indonesia, spatial econometrics, spatial autocorrelation

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Authors: Ivan Samokhin

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A new two-factor model of school students’ capacity levels is proposed. It considers the academic productivity and emotional condition of children taking part in the study process. Each basic level reflects the correlation of these two factors. The teacher decides whether the required result is achieved or not and write down the grade (from 'A' to 'F') in the register. During the term, the teacher can estimate the students’ progress with any intervals, but it is not desirable to exceed a two-week period (with primary school being an exception). Each boy or girl should have a special notebook to record the emotions which they feel studying a subject. The children can make their notes the way they like it – for example, using a ten-point scale or a short verbal description. It is recommended to record the emotions twice a day: after the lesson and after doing the homework. Before the students start doing this, they should be instructed by a school psychologist, who has to emphasize that an attitude to the subject – not to a person in charge of it – is relevant. At the end of the term, the notebooks are given to the teacher, who is now able to make preliminary conclusions about academic results and psychological comfort of each student. If necessary, some pedagogical measures can be taken. The data about a supposed capacity level is available for the teacher and the school administration. In certain cases, this information can be also revealed to the student’s parents, while the student learns it only after receiving a school-leaving certificate (until this moment, the results are not considered ultimate). Then a person may take these data into consideration when choosing his/her future area of higher education. We single out four main capacity levels: 'nominally low', 'inclination', 'ability' and 'gift'.

Keywords: academic productivity, capacity level, emotional condition, school students

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Authors: S. K. Kakraliya, H. S. Jat, Manish Kakraliya, P. C. Sharma, M. L. Jat

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The biggest challenge in agriculture is to produce more food for the continually increasing world population with in the limited land and water resources. Serious water deficits and reducing natural resources are some of the major threats to the agricultural sustainability in many regions of South Asia. Food and water security may be gained by bringing improvement in the crop water productivity and the amount produced per unit of water consumed. Improvement in the crop water productivity may be achieved by pursuing alternative modern agronomics approaches, which are more friendly and efficient in utilizing natural resources. Therefore, a research trial on conservation agriculture (CA) and precision water management (PWM) was conducted in 2018-19 at Karnal, India to evaluate the effect on crop productivity and irrigation in sodic soils under rice-wheat (RW) systems of Indo-Gangetic Plains (IGP). Eight scenarios were compared varied in the tillage, crop establishment, residue and irrigarion management i.e., {First four scenarios irrigated with flood irrigation method;Sc1-Conventional tillage (CT) without residue, Sc2-CT with residue, Sc3- Zero tillage (ZT) without residue, Sc4-ZT with residue}, and {last four scenarios irrigated with sub-surface drip irrigation method; Sc5-ZT without residue, Sc6- ZT with residue, Sc7-ZT inclusion legume without residue and Sc8- ZT inclusion legume with residue}. Results revealed that CA-flood irrigation (S3, Sc4) and CA-PWM system (Sc5, Sc6, Sc7 and Sc8) recorded about ~5% and ~15% higher wheat yield, respectively compared to Sc1. Similar, CA-PWM saved ~40% irrigation water compared to Sc1. Rice yield was not different under different scenarios in the first year (kharif 2019) but almost half irrigation water saved under CA-PWM system. Therefore, results of our study on modern agronomic practices including CA and precision water management (subsurface drip irrigation) for RW rotation would be addressed the existing and future challenges in the RW system.

Keywords: Sub-surface drip, Crop residue, Crop yield , Zero tillage

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Authors: Marija Vicic

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The purpose of commercial credit regulation in an unified way under Law on Foreign Exchange Operations in Republic of Serbia allows an easier state monitoring of credit operations performed by non-professionals on foreign exchange market. By broadly defining the term “commercial credits“, the state (i.e. National Bank of Serbia) is given the authority to monitor the performance of all obligations under commercial contracts in which the obligations are not performed simultaneously. In the first part of the paper, the author analyses the economic gist of commercial credits with the purpose of giving an insight into their special treatment. The author examines the term „commercial credits“ given in Law on foreign exchange operations and the difference between financial credits and irregular commercial credits (exports and imports of goods and services deemed to be commercial credits) is particularly highlighted. In the second part, the author emphasizes the specifics of commercial credit contracts, especially the effects of special requests for the parties to these contracts to notify National Bank of Serbia and specific regulations regarding maturity of obligations under these commercial credits and the assignment and compensation of the said contracts.

Keywords: commercial credit, foreign exchange operations, commercial transactions, deferred payment, advance payment, (non) resident

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Authors: Maryam Kalkatechi

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Architecture students spent most of their qualitative time in studios during their years of study. The studio table’s importance as furniture in the studio is that it elevates the quality of the projects and positively influences the student’s productivity. This paper first describes the aspects considered in designing comprehensive studio table and later details on each aspect. Comprehensive studio tables are meant to transform the studio space to an efficient yet immense place of learning, collaboration, and participation. One aspect of these tables is that the surface transforms to a place of accommodation for design conversations, the other aspect of these tables is the efficient interactive platform of the tools. The discussion factors of the comprehensive studio include; the comprehensive studio setting of workspaces, the arrangement of the comprehensive studio tables, the collaboration aspects in the studio, the studio display and lightings shaped by the tables and lighting of the studio.

Keywords: studio tables, student performance, productivity, hologram, 3D printer

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Authors: Masoumeh Ghasemi, Afshin Farahbakhsh, Arman Farahbakhsh, Ali Asghar Safari

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In this study, lipase production has been investigated using submerge fermentation by Aspergillus niger in Kilka fish oil as main substrate. The Taguchi method with an L9 orthogonal array design was used to investigate the effect of parameters and their levels on lipase productivity. The optimum conditions for Kilka fish oil concentration, incubation temperature and pH were obtained 3 gr./ml 35°C and 7, respectively. The amount of lipase activity in optimum condition was obtained 4.59IU/ml. By comparing this amount with the amount of productivity in the olive oil medium based on the cost of each medium, it was that using Kilka fish oil is 84% economical. Therefore Kilka fish oil can be used as an economical and suitable substrate in the lipase production and industrial usages.

Keywords: lipase, Aspergillus niger, Kilka fish oil, submerge fermentation method

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Authors: Veerpal Kaur

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The present paper aims at investigating the role of dynamic externalities of agglomeration in the regional productivity growth of manufacturing sector in India and China. Taking 2-digit level manufacturing sector data of states and provinces of India and China respectively for the period of 1998-99 to 2011-12, this paper examines the effect of dynamic externalities namely – Marshall-Arrow-Romer (MAR) specialization externalities, Jacobs’s diversity externalities, and Porter’s competition externalities on regional total factor productivity growth (TFPG) of manufacturing sector in both economies. Regressions have been carried on pooled data for all 2-digit manufacturing industries for India and China separately. The estimation of Panel has been based on a fixed effect by sector model. The results of econometric exercise show that labour-intensive industries in Indian regional manufacturing benefit from diversity externalities and capital intensive industries gain more from specialization in terms of TFPG. In China, diversity externalities and competition externalities hold better prospectus for regional TFPG in both labour intensive and capital intensive industries. But if we look at results for coastal and non-coastal region separately, specialization tends to assert a positive effect on TFPG in coastal regions whereas it has a negative effect on TFPG of coastal regions. Competition externalities put a negative effect on TFPG of non-coastal regions whereas it has a positive effect on TFPG of coastal regions. Diversity externalities made a positive contribution to TFPG in both coastal and non-coastal regions. So the results of the study postulate that the importance of dynamic externalities should not be examined by pooling all industries and all regions together. This could hold differential implications for region specific and industry-specific policy formulation. Other important variables explaining regional level TFPG in both India and China have been the availability of infrastructure, level of competitiveness, foreign direct investment, exports and geographical location of the region (especially in China).

Keywords: China, dynamic externalities, India, manufacturing, productivity

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Authors: M. B. Sokoto, L. Tanko, Y. M. Abdullahi

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The study aimed at examining the impact of climatic factors (rainfall, minimum and maximum temperature) on the productivity of major cereals in Sokoto state, Nigeria. Secondary data from 1997-2008 were used in respect of annual yield of Major cereals crops (maize, millet, rice, and sorghum (t ha-1). Data in respect of climate was collected from Sokoto Energy Research Centre (SERC) for the period under review. Data collected was analyzed using descriptive statistics, correlation and regression analysis. The result of the research reveals that there is variation in the trend of the climatic factors and also variation in cereals output. The effect of average temperature on yields has a negative effect on crop yields. Similarly, rainfall is not significant in explaining the effect of climate on cereal crops production. The study has revealed to some extend the effect of climatic variables, such as rainfall, relative humidity, maximum and minimum temperature on major cereals production in Sokoto State. This will assist in planning ahead in cereals production in the area. Other factors such as soil fertility, correct timing of planting and good cultural practices (such as spacing of strands), protection of crops from weeds, pests and diseases and planting of high yielding varieties should also be taken into consideration for increase yield of cereals.

Keywords: cereals, climate, impact, major, productivity

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Authors: Arunas Burinskas, Manuela Tvaronavičienė

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Although the new trade theories, unlike the theories of an industrial organisation, see the structure of the market and competition between enterprises through their heterogeneity according to various parameters, they do not pay any particular attention to the analysis of the market structure and its development. In this article, although we relied mainly on models developed by the scholars of new trade theory, we proposed a different approach. In our simulation model, we model market demand according to normal distribution function, while on the supply side (as it is in the new trade theory models), productivity is modeled with the Pareto distribution function. The results of the simulation show that companies with higher productivity (lower marginal costs) do not pass on all the benefits of such economies to buyers. However, even with higher marginal costs, firms can choose to offer higher value-added goods to stay in the market. In general, the structure of the market is formed quickly enough and depends on the skills available to firms.

Keywords: market, structure, simulation, heterogenous firms

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Authors: Maria Amaia Iza Padilla, Ibai Ostolozaga

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The objective of this paper is to analyze how transportation costs between regions within a country can affect not only domestic trade but also the allocation of resources in a given region, aggregate productivity, and relative domestic prices (tradable versus non-tradable). On the one hand, there is a vast literature that analyzes the transportation costs faced by countries when trading with the rest of the world. However, this paper focuses on the effect of transportation costs on domestic trade. Countries differ in their domestic road infrastructure and transport quality. There is also some literature that focuses on the effect of road infrastructure on the price difference between regions but not on relative prices at the aggregate level. On the other hand, this work is also related to the literature on resource misallocation. Finally, the paper is also related to the literature analyzing the effect of trade on the development of the manufacturing sector. Using the World Bank Enterprise Survey database, it is observed cross-country differences in the proportion of firms that consider transportation as an obstacle. From the International Comparison Program, we obtain a significant negative correlation between GDP per worker and relative prices (manufacturing sector prices relative to the service sector). Furthermore, there is a significant negative correlation between a country’s transportation quality and the relative price of manufactured goods with respect to the price of services in that country. This is consistent with the empirical evidence of a negative correlation between transportation quality and GDP per worker, on the one hand, and the negative correlation between GDP per worker and domestic relative prices, on the other. It is also shown that in a country, the share of manufacturing firms whose main market is at the local (regional) level is negatively related to the quality of the transportation infrastructure within the country. Similarly, this index is positively related to the share of manufacturing firms whose main market is national or international. The data also shows that those countries with a higher proportion of manufacturing firms operating locally have higher relative prices. With this information in hand, the paper attempts to quantify the effects of the allocation of resources between and within sectors. The higher the trade barriers caused by transportation costs, the less efficient allocation, which causes lower aggregate productivity. Second, it is built a two-sector model where regions within a country trade with each other. On the one hand, it is found that with respect to the manufacturing sector, those countries with less trade between their regions will be characterized by a smaller variety of goods, less productive manufacturing firms on average, and higher relative prices for manufactured goods relative to service sector prices. Thus, the decline in the relative price of manufactured goods in more advanced countries could also be explained by the degree of trade between regions. This trade allows for efficient intra-industry allocation (traders are more productive, and resources are allocated more efficiently)).

Keywords: misallocation, relative prices, TFP, transportation cost

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