Search results for: engineering economy and costs

Authors: Shahab Shafayyan, Tara Naderi

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Biogas is the product of decomposition of organic materials. A variety of sources, including animal wastes, municipal solid wastes, sewage and agricultural wastes may be used to produce biogas in an anaerobic process. The main forming material of biogas is methane gas, which can be used directly in a variety of ways, such as heating and as fuel, which is very common in a number of countries, such as China and India. In this article, the cost of biogas production from animal fertilizers, and its refined form, bio methane gas has been studied and it is shown that it can be an alternative for natural gas in terms of costs, in the near future. The cost of biogas purification to biomethane is more than three times the cost of biogas production for an average unit. Biomethane production costs, calculated for a small unit, is about $9/MMBTU and for an average unit is about $5.9/MMBTU.

Keywords: biogas, biomethane, anaerobic digestion, economic evaluation

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Authors: Kaustav Kundu, Alberto Portioli Staudacher

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Construction industry plays a vital role in the economy of the world. But due to high uncertainty and variability in the industry, its performance is not as efficient in terms of quality, lead times, productivity and costs as of other industries. Moreover, there are continuous conflicts among the different actors in the construction supply chains in terms of profit sharing. Previous studies suggested partnership as an important approach to promote cooperation among the different actors in the construction supply chains and thereby it improves the overall performance. Construction practitioners tried to focus on partnership which can enhance the performance of construction supply chains but they are not fully aware of different approaches and techniques for improving partnership. In this research, a systematic review on partnership in relation to construction supply chains is carried out to understand different elements influencing the partnership. The research development of this domain is analyzed by reviewing selected articles published from 1996 to 2015. Based on the papers, three major elements influencing partnership in construction supply chains are identified: “Lean approach”, “Relationship building” and “E-commerce applications”. This study analyses the contributions in the areas within each element and provides suggestions for future developments of partnership in construction supply chains.

Keywords: partnership, construction, lean, SCM, supply chain management

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Authors: Shafaq Rana, Hina Ansar

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Projectification is an emerging phenomenon in Western economies. The projects have become the key driver of the economic actions. The impact of projectification is understudy for over a decade. A methodology was developed to measure the degree of projectification at economical level, which was later adapted to measure the degree of projectification in Germany, Norway, and Iceland; and compared the differences in these project societies, considering their industrial structure, organizational size, and the share of project work. Using the same methodology, this study aims to provide empirical evidence of the project work in the context of Pakistan –a developing nation, keeping into consideration the macroeconomic measures, qualitative and quantitative measures of the project i/c GDP, monetary measures, and project success. The research includes a qualitative pre-study to define these macro-measures in the country-specific context and a quantitative study to measure the project work w.r.t hours working in the organizations on projects. The outcome of this study provides the key data on the projectification in a developing economy, which will help industry practitioners and decision-makers to examine the consequences of projectification and strategize, respectively. This study also provides a foundation for further research in individual sectors of the country while exploring different macroeconomic questions, including the effect of projectification on project productivity, income effects, and labor market.

Keywords: developing economy, Pakistan, project work, projectification

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Authors: Sang Ho Lee, Tae Heon Moon, Youn Taik Leem, Kwang Woo Nam

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Knowledge and IT inputs to other industrial production have become more important as a key factor for the competitiveness of national and regional economies, such as knowledge economies in smart cities. Knowledge and IT industries lead the industrial innovation and technical (r)evolution through low cost, high efficiency in production, and by creating a new value chain and new production path chains, which is referred as knowledge and IT dynamics. This study aims to investigate the knowledge and IT dynamics in Korea, which are analyzed through the input-output model and structural path analysis. Twenty-eight industries were reclassified into seven categories; Agriculture and Mining, IT manufacture, Non-IT manufacture, Construction, IT-service, Knowledge service, Non-knowledge service to take close look at the knowledge and IT dynamics. Knowledge and IT dynamics were analyzed through the change of input output coefficient and multiplier indices in terms of technical innovation, as well as the changes of the structural paths of the knowledge and IT to other industries in terms of new production value creation from 1985 and 2010. The structural paths of knowledge and IT explain not only that IT foster the generation, circulation and use of knowledge through IT industries and IT-based service, but also that knowledge encourages IT use through creating, sharing and managing knowledge. As a result, this paper found the empirical investigation on the knowledge and IT dynamics of the Korean economy. Knowledge and IT has played an important role regarding the inter-industrial transactional input for production, as well as new industrial creation. The birth of the input-output production path has mostly originated from the knowledge and IT industries, while the death of the input-output production path took place in the traditional industries from 1985 and 2010. The Korean economy has been in transition to a knowledge economy in the Smart City.

Keywords: knowledge and IT industries, input-output model, structural path analysis, dynamics of knowledge and it, knowledge economy, knowledge city and smart city

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Authors: Trishen Naidoo, Anthony Walker, Shaniel Davrajh, Glen Bright

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An investigation into on-line inspection was performed where research is focused on the use of varied inspection (as opposed to 100% inspection) for mass customization (MC). Manufacturers need new methods for quality control in mass customization, and these methods need to address some of the old problems such as over-inspection and bottlenecking. Due to the risks of varied inspection, many manufacturers do not implement it and rather opt for sampling methods. However, there are many advantages of varied inspection and can have applications in mass customization. A control system incorporating fuzzy logic (FL) control is used to perform the variations in inspection usage in a simulated environment. The proposed system can have a key impact in appraisal costs reduction and possibly work-in-process reduction in high variety environments.

Keywords: appraisal costs, fuzzy logic, quality control, work-in-process

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Authors: WenYing Claire Shih, Konstantinos Agrafiotis

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The circular economy has become one of the seven fundamental pillars of Taiwan’s economic development, as this is promulgated by the government. The model of the circular economy, with its fundamental premise of waste elimination, can transform the textile and clothing sectors from major pollutant industries to a much cleaner alternative for a better quality of all citizens’ lives. In a related vein, the notion of the creative economy and more specifically the fashion industry can prompt similar results in terms of jobs and wealth creation. The combining forces of the circular and creative economies and their beneficial output have resulted in the configuration of ethical urban networks which potentially may lead to sources of competitive advantage. All actors involved in the configuration of this urban ethical fashion network from public authorities to private enterprise can bring about positive changes in the urban setting. Preliminary results through action research show that this configuration is an attainable task in terms of circularity by reducing fabric waste produced from local textile mills and through innovative methods of design, production and retail around urban spaces where the network has managed to generate a stream of jobs and financial revenues for all participants. The municipal authorities as the facilitating platform have been of paramount importance in this public-private partnership. In the explorative pilot study conducted about a network of production, consumption in terms of circularity of fashion products, we have experienced a positive disposition. As the network will be fully functional by attracting more participant firms from the textile and clothing sectors, it can be beneficial to Taiwan’s soft power in the region and simultaneously elevate citizens’ awareness on circular methods of fashion production, consumption and disposal which can also lead to the betterment of urban lifestyle and may open export horizons for the firms.

Keywords: the circular economy, the creative economy, ethical urban networks, action research

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Authors: Mina Mortazavi

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The common approach in the construction industry for restraint requirements in existing structures or new constructions is to have Non-Structural Components (NSCs) assembled and installed on-site by different MEP subcontractors. This leads to a lack of coordination and higher costs, construction time, and complications due to inaccurate building information modelling (BIM) systems. Introducing NSCs to a consistent BIM system from the beginning of the design process and considering their seismic loads in the analysis and design process can improve coordination and reduce costs and time. One solution is to use prefabricated mounts with attached MEPs delivered as an integral module. This eliminates the majority of coordination complications and reduces design and installation costs and time. An advanced approach is to have as many NSCs as possible installed in the same prefabricated module, which gives the structural engineer the opportunity to consider the involved component weights and locations in the analysis and design of the prefabricated support. This efficient approach eliminates coordination and access issues, leading to enhanced quality control. This research will focus on the existing literature on modular sub-assemblies that are integrated with architectural and structural components. Modular MEP systems take advantage of the precision provided by BIM tools to meet exact requirements and achieve a buildable design every time. Modular installations that include MEP systems provide efficient solutions for the installation of MEP services or components.

Keywords: building services, modularisation, prefabrication, integral building design

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Authors: Adel Mohamed El-Baghdady, Walid Sayed Abdulgalil, Ahmad Asran, Ibrahim Nosier

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This paper studies the effectiveness of applying value engineering to actual concrete mixtures. The study was conducted in the State of Qatar on a number of strategic construction projects with international engineering specifications for the 2022 World Cup projects. The study examined the concrete mixtures of Doha Metro project and the development of KAHRAMAA’s (Qatar Electricity and Water Company) Abu Funtas Strategic Desalination Plant, in order to generally improve the quality and productivity of ready-mixed concrete used in construction and hydraulic projects. The application of value engineering to such concrete mixtures resulted in the following: i) improving the quality of concrete mixtures and increasing the durability of buildings in which they are used; ii) reducing the waste of excess materials of concrete mixture, optimizing the use of resources, and enhancing sustainability; iii) reducing the use of cement, thus reducing CO₂ emissions which ensures the protection of environment and public health; iv) reducing actual costs of concrete mixtures and, in turn, reducing the costs of construction projects; and v) increasing the market share and competitiveness of concrete producers. This research shows that applying the methodology of value engineering to ready-mixed concrete is an effective way to save around 5% of the total cost of concrete mixtures supplied to construction and hydraulic projects, improve the quality according to the technical requirements and as per the standards and specifications for ready-mixed concrete, improve the environmental impact, and promote sustainability.

Keywords: value management, cost of concrete, performance, optimization, sustainability, environmental impact

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Authors: Anthony Halog

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In the coming decades the world that we know today will be drastically transformed. Population and economic growth, particularly in developing countries, are radically changing the demand for food and natural resources. Due to the transformations caused by these megatrends, especially economic growth which is rapidly expanding the middle class and changing consumption patterns worldwide, it is expected that this will result to an increase of approximately 40 percent in the demand for food, water, energy and other resources in the next decades. To fulfill this demand in a sustainable and efficient manner while avoiding food and water scarcity as well as environmental catastrophes in the near future, some industries, particularly the ones involved in food and energy production, have to drastically change its current production systems towards circular and green economy. In Australia, the agri-food industry has played a very important role in the scenario described above. It is one of the major food exporters in the world, supplying fast growing international markets in Asia and the Middle East. Though the Australian food supply chains are economically and technologically developed, it has been facing enduring challenges about its international competitiveness and environmental burdens caused by its production processes. An integrated framework for sustainability assessment is needed to precisely identify inefficiencies and environmental impacts created during food production processes. This research proposes a combination of industrial ecology and systems science based methods and tools intending to develop a novel and useful methodological framework for life cycle sustainability analysis of the agri-food industry. The presentation highlights circular economy paradigm aiming to implement sustainable industrial processes to transform the current industrial model of agri-food supply chains. The results are expected to support government policy makers, business decision makers and other stakeholders involved in agri-food-energy production system in pursuit of green and circular economy. The framework will assist future life cycle and integrated sustainability analysis and eco-redesign of food and other industrial systems.

Keywords: circular economy, eco-efficiency, agri-food systems, green economy, life cycle sustainability assessment

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Authors: Shanti Swaroop Gupta, Bibekananda Mohapatra, S. K. Chaturvedi, Anand Bohra

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For sustainable development in India, there is an urgent need to follow the principles of industrial symbiosis in the industrial processes, under which the scraps, wastes, or by‐products of one industry can become the raw materials for another. This will not only help in reducing the dependence on natural resources but also help in gaining economic advantage to the industry. Gypsum is one such area in India, where the linear economy model of by-product gypsum utilization has resulted in unutilized legacy phosphogypsum stock of 64.65 million tonnes (mt) at phosphoric acid plants in 2020-21. In the future, this unutilized gypsum stock will increase further due to the expected generation of Flue Gas Desulphurization (FGD) gypsum in huge quantities from thermal power plants. Therefore, it is essential to transit from the linear to circular economy in Gypsum in India, which will result in huge environmental as well as ecological benefits. Gypsum is required in many sectors like Construction (Cement industry, gypsum boards, glass fiber reinforced gypsum panels, gypsum plaster, fly ash lime bricks, floor screeds, road construction), agriculture, in the manufacture of Plaster of Paris, pottery, ceramic industry, water treatment processes, manufacture of ammonium sulphate, paints, textiles, etc. The challenges faced in areas of quality, policy, logistics, lack of infrastructure, promotion, etc., for complete utilization of by-product gypsum have been discussed. The untapped potential of by-product gypsum utilization in various sectors like the use of gypsum in agriculture for sodic soil reclamation, utilization of legacy stock in cement industry on mission mode, improvement in quality of by-product gypsum by standardization and usage in building materials industry has been identified. Based on the measures required to tackle the various challenges and utilization of the untapped potential of gypsum, a comprehensive action plan for the transition from linear to the circular economy in gypsum in India has been formulated. The strategies and policy measures required to implement the action plan to achieve a circular economy in Gypsum have been recommended for various government departments. It is estimated that the focused implementation of the proposed action plan would result in a significant decrease in unutilized gypsum legacy stock in the next five years and it would cease to exist by 2027-28 if the proposed action plan is effectively implemented.

Keywords: circular economy, FGD gypsum, India, phosphogypsum

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Authors: Charleen von Kolpinski, Karina Cagarman, Alina Blaute

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The circular economy concept is often framed by politicians, scientists and practitioners as being the solution to sustainability problems of our times. However, the focus of these discussions and publications is very often set on environmental and economic aspects. In contrast, the social dimension of sustainability has been neglected and only a few recent and mostly conceptual studies targeted the inclusion of social aspects and the SDGs into circular economy research. All stakeholders of this new circular system have to be included to represent a truly sustainable solution to all the environmental, economic and social challenges caused by the linear economic system. Hence, this empirical research aims to analyse, next to the environmental and economic dimension, also explicitly the social dimension of a sustainable circular business model. This inductive and explorative approach applies the single case study method. A multi-stakeholder view is adopted to shed light on social aspects of the circular business model. Different stakeholder views, tensions between stakeholders and conflicts of interest are detected. In semi-structured interviews with different stakeholders of the company, this study compares the different stakeholder views to profile the success factors of its business model in terms of sustainability implementation and to detect its shortcomings. These findings result in the development of propositions which cover different social aspects of sustainable circular business model implementation. This study is an answer to calls for future empirical research about the social dimension of the circular economy and contributes to sustainable business model thinking in entrepreneurial contexts of the circular economy. It helps identifying all relevant stakeholders and their needs to successfully and inclusively implement a sustainable circular business model. The method of a single case study has some limitations by nature as it only covers one enterprise with its special business model. Therefore, more empirical studies are needed to research sustainable circular business models from multiple stakeholder perspectives, in different countries and industries. Future research can build upon the developed propositions of this study and develop hypotheses to be tested.

Keywords: circular economy, single case study, social dimension, sustainable circular business model

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Authors: Bouchra Nadji, Elaid Bouchetob

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PV systems are common in residential and industrial settings because of their low, upfront costs and operating costs throughout their lifetimes. Buck or boost converters are used in photovoltaic systems, regardless of whether the system is autonomous or connected to the grid. These converters became less appealing because of their low efficiency, inadequate power density, and use of silicon for their power components. Traditional devices based on Si are getting close to reaching their theoretical performance limits, which makes it more challenging to improve the performance and efficiency of these devices. GaN and SiC are the two types of WBG semiconductors with the most recent technological advancements and are available. Tolerance to high temperatures and switching frequencies can reduce active and passive component size. Utilizing high-efficiency dc-dc boost converters is the primary emphasis of this work. These converters are for photovoltaic systems that use wave energy.

Keywords: component, Artificial intelligence, PV System, ANN MPPT, DC-DC converter

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Authors: Michael Kenomore, Mohamed Hassan, Amjad Shah, Hom Dhakal

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Shale gas reservoirs have been of greater importance compared to shale oil reservoirs since 2009 and with the current nature of the oil market, understanding the technical and economic performance of shale gas reservoirs is of importance. Using the Barnett shale as a case study, an economic model was developed to quantify the effect of finding and development costs and gas prices on the basins in the Barnett shale using net present value as an evaluation parameter. A rate of return of 20% and a payback period of 60 months or less was used as the investment hurdle in the model. The Barnett was split into four basins (Strawn Basin, Ouachita Folded Belt, Forth-worth Syncline and Bend-arch Basin) with analysis conducted on each of the basin to provide a holistic outlook. The dataset consisted of only horizontal wells that started production from 2008 to at most 2015 with 1835 wells coming from the strawn basin, 137 wells from the Ouachita folded belt, 55 wells from the bend-arch basin and 724 wells from the forth-worth syncline. The data was analyzed initially on Microsoft Excel to determine the estimated ultimate recoverable (EUR). The range of EUR from each basin were loaded in the Palisade Risk software and a log normal distribution typical of Barnett shale wells was fitted to the dataset. Monte Carlo simulation was then carried out over a 1000 iterations to obtain a cumulative distribution plot showing the probabilistic distribution of EUR for each basin. From the cumulative distribution plot, the P10, P50 and P90 EUR values for each basin were used in the economic model. Gas production from an individual well with a EUR similar to the calculated EUR was chosen and rescaled to fit the calculated EUR values for each basin at the respective percentiles i.e. P10, P50 and P90. The rescaled production was entered into the economic model to determine the effect of the finding and development cost and gas price on the net present value (10% discount rate/year) as well as also determine the scenario that satisfied the proposed investment hurdle. The finding and development costs used in this paper (assumed to consist only of the drilling and completion costs) were £1 million, £2 million and £4 million while the gas price was varied from $2/MCF-$13/MCF based on Henry Hub spot prices from 2008-2015. One of the major findings in this study was that wells in the bend-arch basin were least economic, higher gas prices are needed in basins containing non-core counties and 90% of the Barnet shale wells were not economic at all finding and development costs irrespective of the gas price in all the basins. This study helps to determine the percentage of wells that are economic at different range of costs and gas prices, determine the basins that are most economic and the wells that satisfy the investment hurdle.

Keywords: shale gas, Barnett shale, unconventional gas, estimated ultimate recoverable

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Authors: Rafael Vicente Salar

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Cities are steadily transforming their productive systems based on value-adding strategies, with the aim of becoming more competitive in a globalized economy. This fact is reflected in inner urban spaces which are increasingly accommodating new economic activities related to knowledge, culture, creativity, and tourism, to the detriment of traditional activities. This is the case of the Trafalgar Garment District (TGD), located in Barcelona´s Eixample Dret neighborhood, an economic urban space historically devoted to the garment wholesale trade. This district is currently experiencing the transformation of its traditional economic specialization. In the last 50 years, external and internal factors have caused, firstly, the disintegration of the Catalonian garment regional cluster. This has resulted in the closure of the majority of metropolitan garment workshops. Secondly, this has also caused either the disappearance of wholesale firms or their relocation to more suitable spaces in the metropolitan area. Specifically, the TGD's economic restructuration is related to the attraction of firms related to the lodging industry and the new economy. In addition, some of the wholesale businesses are adopting new management strategies in order to remain in the TGD. These initiatives are thought to allow them, on one hand, to upgrade their products and, on the other, to reconfigure their internal organization in order to be more competitive.

Keywords: Barcelona, garment district, new economy, tourism, garmen wholesale trade

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Authors: Liam Fassam, Pouria Liravi, Jacquie Bridgman

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Introduction: The way we travel is rapidly changing, car ownership and use are declining among young people and those residents in urban areas. Also, the increasing role and popularity of sharing economy companies like Uber highlight a movement towards consuming transportation solutions as a service [Mobility of a Service]. This research looks to bridge the knowledge gap that exists between city mobility, smart cities, sharing economy and social entrepreneurship business models. Understanding of this subject is crucial for smart city design, as access to affordable transport has been identified as a contributing factor to social isolation leading to issues around health and wellbeing. Methodology: To explore the current fit vis-a-vis transportation business models and social impact this research undertook a comparative analysis between a systematic literature review and a Delphi study. The systematic literature review was undertaken to gain an appreciation of the current academic thinking on ‘social entrepreneurship and smart city mobility’. The second phase of the research initiated a Delphi study across a group of 22 participants to review future opinion on ‘how social entrepreneurship can assist city mobility sharing models?’. The Delphi delivered an initial 220 results, which once cross-checked for duplication resulted in 130. These 130 answers were sent back to participants to score importance against a 5-point LIKERT scale, enabling a top 10 listing of areas for shared user transports in society to be gleaned. One further round (4) identified no change in the coefficient of variant thus no further rounds were required. Findings: Initial results of the literature review returned 1,021 journals using the search criteria ‘social entrepreneurship and smart city mobility’. Filtering allied to ‘peer review’, ‘date’, ‘region’ and ‘Chartered associated of business school’ ranking proffered a resultant journal list of 75. Of these, 58 focused on smart city design, 9 on social enterprise in cityscapes, 6 relating to smart city network design and 3 on social impact, with no journals purporting the need for social entrepreneurship to be allied to city mobility. The future inclusion factors from the Delphi expert panel indicated that smart cities needed to include shared economy models in their strategies. Furthermore, social isolation born by costs of infrastructure needed addressing through holistic A-political social enterprise models, and a better understanding of social benefit measurement is needed. Conclusion: In investigating the collaboration between key public transportation stakeholders, a theoretical model of social enterprise transportation models that positively impact upon the smart city needs of reduced transport poverty and social isolation was formed. As such, the research has identified how a revised business model of Mobility of a Service allied to a social entrepreneurship can deliver impactful measured social benefits associated to smart city design existent research.

Keywords: social enterprise, collaborative transportation, new models of ownership, transport social impact

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Authors: Nino Grigolaia

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Introduction - The paper discusses the role of industrial policy in the development of the economy in the country. The main challenges on the way to the implementation of industrial policy are analyzed: the long-term period of industrial policy, the risk of changes in priorities, the limited scope and external shocks. Methodology - Various research methods are used in the paper. The methods of induction, deduction, analysis, synthesis, analogy, correlation and statistical observation are used. Main Findings - Based on the analysis of the current situation in Georgia, the obstacles to the country's industrialization and its supporting factors are identified. Also, the challenges of the country's core industrial policies are revealed. Specific industry development strategies, ways of state support and main directions of new industrial policies are identified. Conclusion - The paper concludes that the development of the industrial sector is critical for the future growth and development of the Georgian economy, which will accelerate the industrialization and structural transformation processes, reduce the trade deficit, increase the exports and create more jobs in the country. The listed changes will guarantee the improvement of the socio-economic situation of the population. Accordingly, it is revealed that the study of industrial policy in Georgia is still actual. Based on the analysis, relevant conclusions in the field of industrialization of the country are developed and recommendations are proposed.

Keywords: industrialization , industrial policy, industrialization of the economy, Georgia priorities

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Authors: Lisa J. Piergallini

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This project uses panel regression analyses to investigate the relationships between geography, institutions, and economic development, as guided by the theories of the 18^th century French philosopher Montesquieu. Contemporary scholars of political economy perpetually misinterpret Montesquieu’s theories on climate, and in doing so they miss what could be the key to resolving the geography vs. institutions debate. There is a conspicuous gap in this literature, in that it does not consider whether geography and institutors might have an interactive, dynamic effect on economic development. This project seeks to bridge that gap. Data are used for all available countries over the years 1980-2013. Two interaction terms between geographic and institutional variables are employed within the empirical analyses, and these offer a unique contribution to the ongoing geography vs. institutions debate within the political economy literature. This study finds that there is indeed an interactive effect between geography and institutions, and that this interaction has a statistically significant effect on economic development. Democracy (as measured by Polity score) and rule of law and property rights (as measured by the Fraser index) have positive effects on economic development (as measured by GDP per capita), yet the magnitude of these effects are stronger in contexts where a low percent of the national population lives in the geographical tropics. This has implications for promoting economic development, and it highlights the importance of understanding geographical context.

Keywords: Montesquieu, institutions, geography, economic development, political philosophy, political economy

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Authors: Avani Chhajlani

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Fashion is considered to be the most destructive industry, second only to the oil rigging industry, which has a greater impact on the environment. While fashion today banks upon fast fashion to generate a higher turnover of designs and patterns in apparel and related accessories, crafts push us towards a more slow and thoughtful approach with culturally identifiably unique work and slow community-centered production. Despite this strong link between indigenous crafts and sustainability, it has not been extensively researched and explored upon. In the forthcoming years, the fashion industry will have to reinvent itself to move towards a more holistic and sustainable circular model to balance the harm already caused. And closed loops of the circular economy will help the integration of indigenous craft knowledge, which is regenerative. Though sustainability and crafts of a region go hand-in-hand, the craft still have to find its standing in the mainstream fashion world; craft practices have a strong local congruence and knowledge that has been passed down generation-to-generation through oration or written materials. This paper aims to explore ways a circular economy can be created by amalgamating fashion and craft while creating a sustainable business model and how this is slowly being created today through brands like – RaasLeela, Pero, and KaSha, to name a few.

Keywords: circular economy, fashion, India, indigenous crafts, slow fashion, sustainability, up-cycling

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Authors: Galuh Pramesti

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In Indonesia, the rise of the middle class and consumer purchasing power has created a trend of shifting the traditional into a modern retail market. Development of the creative economy as an impact of the global economy has invaded the traditional market, due to low rents and minimum innovation, raising the issue of sustainability and urban resilience for survival of the traditional market. The study aims to understand the current market conditions by examining the challenges, resiliency, and identify the relationship between the traditional market and creative market. Using a single-case study approach as the research methodology, Santa Market has been chosen as the case study. It is a pilot project of collaboration between a traditional market and creative economy in Jakarta, Indonesia. The research was conducted as a qualitative study through in-depth interviews with the market vendors and the market management, besides a desk-based study of the leasing data and spatial analysis. The findings indicate traffic fluctuation as the main challenge. It is related to the tenant’s presence, rental fluctuation, gentrification, infrastructure, and market competition. Thus, the findings on resilience show a different response for creative and traditional markets. The traditional market’s response remained stable with minimum innovation, whereas the creative market relies on technological development. Regarding the relationship, supply and demand have become the main relationship occurring in Santa Market. It is then developed into the context of society and regulation. The conclusion provides recommendations for more solid regulation to protect the market tenants from stakeholder interests that can disrupt market viability, and a critical discussion on the concept of collaboration between traditional and creative markets. There is also a suggestion for further study on relation with the surroundings, to create a holistic study on how the collaboration can work well in the traditional market.

Keywords: creative economy, market sustainability, traditional market, urban resilience

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Authors: Marzieh Eshaghi Koupaei

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By cultivating mealworm, we reduce greenhouse gases and avoid the use of transgenic products such as soybeans, and we provide food resources rich in protein, amino acids, minerals, etc. for humans and animals, and it has created employment and entrepreneurship. We serve the environment by producing oil from mealworm in the cosmetic industry, using its waste as organic fertilizer and its powder in bodybuilding, and by breaking down plastic by mealworm. The production and breeding of mealworm requires very little infrastructure and does not require much trouble, and requires very little food, and reproduces easily and quickly, and a mealworm production workshop is noiseless, odorless, and pollution-free And the costs are very low. It is possible to use third grade fruits and unsalable fruits of farmers to feed the mealworms, which is completely economical and cost-effective. Mealworms can break down plastic in their intestines and turn it into carbon dioxide. . This process was done in only 16 days, which is a very short time compared to several centuries for plastic to decompose. By producing mealworm, we have helped to preserve the environment and provided the source of protein needed by humans and animals. This industrial insect has the ability and value of commercialization and creates employment and helps the economy of the society.

Keywords: breeding, production of insects, mealworms, research, animal feed, human feed

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Authors: Tao Peng

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This paper presents a holistic model of political economy based on Daoism – the foundational philosophy of classical Chinese epistemology. Daoism is both comprehensive and subtle in its manifestations and applications in all aspects of nature and society. Based on Daoist creation theory of the universe, life theory and five element functioning theory, a holistic model in economics with minimal assumptions and independent of ideology are constructed. Under this framework, different schools of economics, such as neo-liberal, Marxism, and Austrian school, are explored and shed new light on. Economic and financial predictions can be realized in applications to Qi Men Dun Jia. This framework can provide guidelines and inspirations to economic modelling, economic policies formulation and strategy development and guide society towards a more sustainable future.

Keywords: daoism, economics, holistic, philosophy

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Authors: Bin Li

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In the era of the digital economy, digital transformation has gradually become a strategic choice for enterprise development, but there is a relative lack of systematic research from the perspective of enterprise growth. Based on the sample of Chinese A-share listed companies from 2011 to 2021, this paper constructs A digital transformation index system and an enterprise growth composite index to empirically test the impact of enterprise digital transformation on enterprise growth and its mechanism. The results show that digital transformation can significantly promote corporate growth. The mechanism analysis finds that reducing operating costs, optimizing human capital structure, promoting R&D output and improving digital innovation capability play an important intermediary role in the process of digital transformation promoting corporate growth. At the same time, the level of external digital infrastructure and the strength of organizational resilience play a positive moderating role in the process of corporate digital transformation promoting corporate growth. In addition, while further analyzing the heterogeneity of enterprises, this paper further deepens the analysis of the driving factors and digital technology support of digital transformation, as well as the three dimensions of enterprise growth, thus deepening the research depth of enterprise digital transformation.

Keywords: digital transformation, enterprise growth, digital technology, digital infrastructure, organization resilience, digital innovation

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Authors: Gaurav Gupta, Jitendra Mahakud

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This study focuses on the significance of internal financing constraints on the determination of corporate fixed investments in the case of Indian manufacturing companies. Financing constraints companies which have less internal fund or retained earnings face more transaction and borrowing costs due to imperfections in the capital market. The period of study is 1999-2000 to 2013-2014 and we consider 618 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test, and Hausman test results conclude the suitability of the fixed effect model for the estimation. The cash flow and liquidity of the company have been used as the proxies for the internal financial constraints. In accordance with various theories of corporate investments, we consider other firm specific variable like firm age, firm size, profitability, sales and leverage as the control variables in the model. From the econometric analysis, we find internal cash flow and liquidity have the significant and positive impact on the corporate investments. The variables like cost of capital, sales growth and growth opportunities are found to be significantly determining the corporate investments in India, which is consistent with the neoclassical, accelerator and Tobin’s q theory of corporate investment. To check the robustness of results, we divided the sample on the basis of cash flow and liquidity. Firms having cash flow greater than zero are put under one group, and firms with cash flow less than zero are put under another group. Also, the firms are divided on the basis of liquidity following the same approach. We find that the results are robust to both types of companies having positive and negative cash flow and liquidity. The results for other variables are also in the same line as we find for the whole sample. These findings confirm that internal financing constraints play a significant role for determination of corporate investment in India. The findings of this study have the implications for the corporate managers to focus on the projects having higher expected cash inflows to avoid the financing constraints. Apart from that, they should also maintain adequate liquidity to minimize the external financing costs.

Keywords: cash flow, corporate investment, financing constraints, panel data method

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Authors: Ezinne M. Igwe

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Statements of facts have been made about Nollywood, a segment of the Nigerian film industry that has in recent times become phenomenal due largely to its quantity of production and specific production style. In the face of recent transformations reshaping the industry, matters have been arising which have not been given due academic attention from an industry player perspective. While re-addressing such issues like structure, policy and informality, this study benefits from a new perspective – that of a community member adopting participant observation to research into a familiar culture. With data drawn from an extensive ethnographic study of the industry, this paper examines these matters with an emphasis on structure and the industry’s overall political economy. Drawing from discourses on the new and old Nollywood labels and other current matters arising within the industry such as the MOPICON bill redraft, corporate financing and possibilities of regeneration, this paper examines structure and power struggle within Nollywood. These are championing regenerative processes that bring about formalization, professionalism and the quest for a transnational presence, which have only been superficially evaluated. Focused essentially on Nollywood’s political economy, this study critically analyses the transforming face of an informal industry, the consistent quest for structure, quality and standard, and issues of corporate sponsorship as possible trends of regeneration. It evaluates them as indicators of regeneration, questioning the possibilities of their sustenance in an industry experiencing increased interactions with the formal economy and an influx of young professionals. With findings that make sustained regeneration both certain (due to increased formal economy interaction) and uncertain (due to the dysfunctionality of the society and its political system), it concludes that the transforming face of the industry suggests impending gentrification of the industry.

Keywords: formalisation, MOPICON, Nollywood, structure

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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: Chizzoniti Domenico, Beggiora Klizia, Cattani Letizia, Moscatelli Monica

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This paper concerns the study of sustainable construction materials applied on the "Health Post", a prototype for the primary health care situated in alienated areas of the world. It's suitable for social and climatic Sub-Saharan context; however, it could be moved in other countries of the world with similar urgent needs. The idea is to create a Health Post with local construction materials that have a low environmental impact and promote the local workforce allowing reuse of traditional building techniques lowering production costs and transport. The aim of Primary Health Care Centre is to be a flexible and expandable structure identifying a modular form that can be repeated several times to expand its existing functions. In this way it could be not only a health care centre but also a socio-cultural facility.

Keywords: low costs building, sustainable construction materials, green construction system, prototype, health care, emergency

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Authors: Young Sik Kim, Tae Kwon Ha

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Russia was one of the world’s leading mineral- producing countries. In 2012, Russia was ranked among the world’s leading producers or was a leading regional producer of such mineral commodities as aluminum, arsenic, asbestos, bauxite, boron, cadmium, cement, coal, cobalt, copper, diamond, fluorspar, gold, iron ore, lime, magnesium compounds and metals, mica (flake, scrap, and sheet), natural gas, nickel, nitrogen, oil shale, palladium, peat, petroleum, phosphate, pig iron, platinum, potash, rhenium, silicon, steel, sulfur, titanium sponge, tungsten, and vanadium. Russia has large reserves of a variety of mineral resources and undoubtedly will continue to be one of the world’s leading mineral producers. Although the country’s economy is expected to grow in 2012, some problems are likely to remain. In 2011, the Russian economy returned to economic growth after the significant decline in 2010. According to some analysts, however, the recovery of 2011 did not appear sufficiently vigorous to carry the country’s strong economic growth into the next decade. Even in the sectors of the economy where the country is among the world leaders (ferrous metals, gas, petroleum), Russian industry has obsolete plants and equipment, a slow rate of innovation, and low labor productivity.

Keywords: Russia, energy resources, economic growth, strategy, oil complex

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Authors: Aigerim Uyzbayeva, Valeriya Tyo, Nurlan Ibrayev

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Kazakhstan is currently one of the dynamically developing states in its region. The stable growth in all sectors of the economy leads to a corresponding increase in energy consumption. Thus, country consumes a significant amount of energy due to the high level of industralisation and the presence of energy-intensive manufacturing such as mining and metallurgy which in turn leads to low energy efficiency. With allowance for this the Government has set several priorities to adopt a transition of Republic of Kazakhstan to a “green economy”. This article provides an overview of Kazakhstan’s energy efficiency situation in for the period of 1991-2014. First, the dynamics of production and consumption of conventional energy resources are given. Second, the potential of renewable energy sources is summarised, followed by the description of GHG emissions trends in the country. Third, Kazakhstan’ national initiatives, policies and locally implemented projects in the field of energy efficiency are described.

Keywords: energy efficiency in Kazakhstan, greenhouse gases, renewable energy, sustainable development

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Authors: Desiree Llaguno Cerezo, Elizabeth Valdes-Miranda Fernandez

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Women have a critical role in sustaining the economy and in the development of trade. However, such a role has long been invisible due to orthodox conceptions that have ignored the gender variable in commercial analyses. Today, it is generally accepted that neither the economy nor business are gender-neutral and that the performance of these activities often impact negatively the lives of women. Women’s participation in trade, on equal terms as men, in any of the various possible roles -producer, wage earner, consumer, merchant, taxpayer- will not only favour the lives of women but also the performance of the economies in which they participate. Transparency, as a principle of the multilateral trading system, can play a significant role as a strategy for the empowerment of women.

Keywords: trade, human rights, gender equality, transparency, WTO, women workers, women's economic empowerment

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Authors: Ogunnaiya Racheal Taiwo

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Children's formative years are crucial to their growth; it is, therefore, necessary for all the stakeholders to ensure that the pupils have an enabling quality of life which is essential for realizing their potential. For children to live and grow, they need a secure home, nutritious food, good health care, and quality education. This paper, therefore, investigates the implications of a depressed economy on the classroom learning of Nigerian children as it is clear that Nigeria is currently experiencing the worst economic depression in several decades, which affects a substantial proportion of children. The study is qualitative research, and it adopts a phenomenological approach where the experiences of respondents are examined qualitatively. Three senatorial districts in Oyo State were considered, and 50 teachers, both male, and female were chosen from each senatorial district for an interview through conversational key informants' interviews. The interviewees were recorded, transcribed, and presented using thematic analysis. Findings showed that more children have dropped out since the beginning of the year than in previous years. It was also recorded that learning has become challenging as children now find it harder to acquire learning materials. It was recommended that the government should reimburse early childhood schools to lessen the effect of the inability to purchase materials and pay school fees. It was also recommended that an intervention be made to approach and resolve issues associated with out-of-school children.

Keywords: childhood, classroom, education, depressed economy, poverty

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