Search results for: economic growth and development

Authors: Lady Salvador Purganan, Jojo M. Villamin, Noel L. Lansang

Abstract:

Tourism is a multifaceted but interdependent industry. This industry is composed of four major players, the public sector, the private sector, the local community, and the tourists. Each player has a vital role in the success of delivering high-quality tourism products and activities. There are various manifestations of positive economic outcomes that benefit the local community. Pro-poor tourism development approach has a great potential to serve as an avenue for capacity building leading to economic independence since natural attractions and cultural resources are assets that can be capitalized on, especially by the poor, because it is more accessible to them compared to financial resources. In the National Tourism Development Plan 2016-2022, specific mechanisms are not reflected to combat and lower poverty incidence through tourism. The researcher used the multidimensional poverty theory and sustainable tourism theory to formulate indicators in the research instrument and social exchange theory. The expected output of the study is to unlock opportunities, specifically in Brgy. Sta. Lucia, Guimba, Nueva Ecija, by crafting policies taking into utmost consideration local community involvement and participation in the process of tourism development which is essential in attaining inclusive growth and sustainability. This study will apply the sequential explanatory design mixed-method approach.

Keywords: pro-poor tourism, poverty alleviation, livelihood opportunities, tourism development plan

Procedia PDF Downloads 103

Authors: Romany Wagih Farag Zaky

Abstract:

The relationship between development and human rights has long been the subject of academic debate. To understand the dynamics between these two concepts, various principles are adopted, from the right to development to development-based human rights. Despite the initiatives taken, the relationship between development and human rights remains unclear. However, the overlap between these two views and the idea that efforts should be made in the field of human rights have increased in recent years. It is then evaluated whether the right to sustainable development is acceptable or not. The article concludes that the principles of sustainable development are directly or indirectly recognized in various human rights instruments, which is a good answer to the question posed above. This book therefore cites regional and international human rights agreements such as , as well as the jurisprudence and interpretative guidelines of human rights institutions, to prove this hypothesis.

Keywords: sustainable development, human rights, the right to development, the human rights-based approach to development, environmental rights, economic development, social sustainability human rights protection, human rights violations, workers’ rights, justice, security

Procedia PDF Downloads 57

Authors: E. Kharaishvili, G. Erkomaishvili, M. Chavleishvili

Abstract:

The paper evaluates the natural and resource potential of agriculture, a traditional sector for Georgia. It is concluded that despite favorable conditions the rate of development of the sector is lower compared to other sectors of the economy, self-sufficiency rate for locally produced agricultural products is low; on average, import of food is 4 times higher compared to export, and the country faces considerable challenges in this regard. Tendencies of self-sufficiency rates are studied, and it is concluded that the indicators of export and import of agro-food products increase in accordance with the tendency of increasing production in agricultural sector. The paper substantiates stimulating impact of international trade on agricultural development. Two alternative strategies are assessed in this respect: 1) export stimulation, and 2) import replacement strategies. It is concluded that significant tendencies are observed in agro-food sector of Georgia; in particular, productivity is low; import volume significantly exceeds the export volume. It is considered that the growth of export will allow Georgia to overcome limited opportunities of local market and encourage increasing competitiveness. Various tools of economic policy are suggested for achieving these goals; in particular to subsidize export, optimize trade barriers, manage exchange rates effectively, offer special financial services, provide insurance for export, etc.

Keywords: agro-food sector, trend of production, export stimulation, economic policy

Procedia PDF Downloads 206

Authors: Ivana Lolic, Petar Soric, Mirjana Cizmesija

Abstract:

Based on Business and Consumer Survey (BCS) data, the European Commission (EC) regularly publishes the monthly Economic Sentiment Indicator (ESI) for each EU member state. ESI is conceptualized as a leading indicator, aimed ad tracking the overall economic activity. In calculating ESI, the EC employs arbitrarily chosen weights on 15 BCS response balances. This paper raises the predictive quality of ESI by applying nonlinear programming to find such weights that maximize the correlation coefficient of ESI and year-on-year GDP growth. The obtained results show that the highest weights are assigned to the response balances of industrial sector questions, followed by questions from the retail trade sector. This comes as no surprise since the existing literature shows that the industrial production is a plausible proxy for the overall Croatian economic activity and since Croatian GDP is largely influenced by the aggregate personal consumption.

Keywords: business and consumer survey, economic sentiment indicator, leading indicator, nonlinear optimization with constraints

Procedia PDF Downloads 462

Authors: Luis Marquez, Ge Zhu, Vikas Srivastava

Abstract:

High-density polyethylene (HDPE) is one of the most commonly used thermoplastic polymer materials for water and gas pipelines. Slow crack growth failure is a well-known phenomenon in high-density polyethylene material and causes brittle failure well below the yield point with no obvious sign. The failure of transportation pipelines can cause catastrophic environmental and economic consequences. Using the non-destructive testing method to predict slow crack growth failure behavior is the primary preventative measurement employed by the pipeline industry but is often costly and time-consuming. Phenomenological slow crack growth models are useful to predict the slow crack growth behavior in the polymer material due to their ability to evaluate slow crack growth under different temperature and loading conditions. We developed a quantitative method to assess the slow crack growth behavior in the high-density polyethylene pipeline material under different thermal conditions based on existing physics-based phenomenological models. We are also working on developing an experimental protocol and quantitative model that can address slow crack growth behavior under different chemical exposure conditions to improve the safety, reliability, and resilience of HDPE-based pipeline infrastructure.

Keywords: mechanics of materials, physics-based modeling, civil engineering, fracture mechanics

Procedia PDF Downloads 205

Authors: Rika Yuliana, Budi Rahardjo

Abstract:

The Role of ICT in the organization will continue to experience growth in line with business growth. However, in reality, there is a gap between ICT initiatives with the development (needs) of company business that is caused by yet inadequate of ICT strategic alignment. Therefore, this study was conducted with the aim to create an enterprise architectural model rule, particularly in mining companies, using the TOGAF framework. The results from the design development phase of the mining enterprise architecture meta model represents the domain of business, applications, data, and technology. The results of the design as a whole were analyzed from four perspectives, namely the perspective of contextual, conceptual, logical and physical. In the end, the quality assessment of the mining enterprise architecture is conducted to assess the suitability of the design standards and architectural principles.

Keywords: design and development the information technology architecture, enterprise architecture, enterprise architecture design result, TOGAF architecture development method (ADM)

Procedia PDF Downloads 447

Authors: Delphine Mukaneza, Lin Qiao, Wang Pengxin, Li Yan, Chen Yingyi

Abstract:

Human activities on land use make the land-cover gradually change or transit. In this study, we examined the use of Landsat TM data to detect the land use change of Kigali between 1987 and 2009 using remote sensing techniques and analysis of data using ENVI and ArcGIS, a GIS software. Six different categories of land use were distinguished: bare soil, built up land, wetland, water, vegetation, and others. With remote sensing techniques, we analyzed land use data in 1987, 1999 and 2009, changed areas were found and a dynamic situation of land use in Kigali city was found during the 22 years studied. According to relevant Landsat data, the research focused on land use change in accordance with the role of remote sensing in the process of urbanization. The result of the work has shown the rapid increase of built up land between 1987 and 1999 and a big decrease of vegetation caused by the rebuild of the city after the 1994 genocide, while in the period of 1999 to 2009 there was a reduction in built up land and vegetation, after the authority of Kigali city established, a Master Plan where all constructions which were not in the range of the master Plan were destroyed. Rwanda's capital, Kigali City, through the expansion of the urban area, it is increasing the internal employment rate and attracts business investors and the service sector to improve their economy, which will increase the population growth and provide a better life. The overall planning of the city of Kigali considers the environment, land use, infrastructure, cultural and socio-economic factors, the economic development and population forecast, urban development, and constraints specification. To achieve the above purpose, the Government has set for the overall planning of city Kigali, different stages of the detailed description of the design, strategy and action plan that would guide Kigali planners and members of the public in the future to have more detailed regional plans and practical measures. Thus, land use change is significantly the performance of Kigali active human area, which plays an important role for the country to take certain decisions. Another area to take into account is the natural situation of Kigali city. Agriculture in the region does not occupy a dominant position, and with the population growth and socio-economic development, the construction area will gradually rise and speed up the process of urbanization. Thus, as a developing country, Rwanda's population continues to grow and there is low rate of utilization of land, where urbanization remains low. As mentioned earlier, the 1994 genocide massacres, population growth and urbanization processes, have been the factors driving the dramatic changes in land use. The focus on further research would be on analysis of Rwanda’s natural resources, social and economic factors that could be, the driving force of land use change.

Keywords: land use change, urbanization, Kigali City, Landsat

Procedia PDF Downloads 309

Authors: Felippe Clemente, Evaldo Henrique da Silva

Abstract:

The need to adopt some type of industrial policy and innovation in Brazil is a recurring theme in the discussion of public interventions aimed at boosting economic growth. For many years, the country has adopted various policies to change its productive structure in order to increase the participation of sectors that would have the greatest potential to generate innovation and economic growth. Only in the 2000s, tax incentives as a policy to support industrial and technological innovation are being adopted in Brazil as a phenomenon associated with rates of productivity growth and economic development. In this context, in late 2004 and 2005, Brazil reformulated its institutional apparatus for innovation in order to approach the OECD conventions and the Frascati Manual. The Innovation Law (2004) and the 'Lei do Bem' (2005) reduced some institutional barriers to innovation, provided incentives for university-business cooperation, and modified access to tax incentives for innovation. Chapter III of the 'Lei do Bem' (no. 11,196/05) is currently the most comprehensive fiscal incentive to stimulate innovation. It complies with the requirements, which stipulates that the Union should encourage innovation in the company or industry by granting tax incentives. With its introduction, the bureaucratic procedure was simplified by not requiring pre-approval of projects or participation in bidding documents. However, preliminary analysis suggests that this instrument has not yet been able to stimulate the sector diversification of these investments in Brazil, since its benefits are mostly captured by sectors that already developed this activity, thus showing problems with moral hazard. It is necessary, then, to analyze the 'Lei do Bem' to know if there is indeed the need for some change, investigating what changes should be implanted in the Brazilian innovation policy. This work, therefore, shows itself as a first effort to analyze a current national problem, evaluating the effectiveness of the 'Lei do Bem' and suggesting public policies that help and direct the State to the elaboration of legislative laws capable of encouraging agents to follow what they describes. As a preliminary result, it is known that 130 firms used fiscal incentives for innovation in 2006, 320 in 2007 and 552 in 2008. Although this number is on the rise, it is still small, if it is considered that there are around 6 thousand firms that perform Research and Development (R&D) activities in Brazil. Moreover, another obstacle to the 'Lei do Bem' is the percentages of tax incentives provided to companies. These percentages reveal a significant sectoral correlation between R&D expenditures of large companies and R&D expenses of companies that accessed the 'Lei do Bem', reaching a correlation of 95.8% in 2008. With these results, it becomes relevant to investigate the law's ability to stimulate private investments in R&D.

Keywords: brazilian innovation system, moral hazard, R&D, Lei do Bem

Procedia PDF Downloads 338

Authors: Altaf Ahmed

Abstract:

Unhindered progress and advancement of life are directly associated with peace and development. Unfortunately, many modern states are prone to the perilous of social challenges; Violent Extremism is the most ubiquitous adversary among all. Islam in its origin fully supports peace and security; the charter of Madina, the treaty of Hudabia and conquer of Mecca are the biggest examples in this reference. The holy Prophet Muhammad ﷺ always gave priority to peace in these cases. Today, the majority of the Muslim World faces VE and terrorism due to multiple reasons ranging from religious interpretations to political, social and economic conditions. This research will try to explore challenges for Muslim Ummah in maintaining peace and what steps have been taken by it to resolve conflicts among states. In this context, Sustainable development goals (SDGs) will be particularly analysed. SDGs were adopted by all United Nations Member States in 2015. It is an undeniable fact that these are the best peace-building tools. Although there are 17 SDGs, the paper will mainly focus on quality education, zero hunger, end of poverty (social protection), women empowerment, reduced inequalities and economic growth as the best peace-building approaches for eradication of violent extremism.

Keywords: violent extremism, Muslim Ummah, peace, modern world, education

Procedia PDF Downloads 119

Authors: Srećko Favro, Dora Mužinić

Abstract:

The eastern coast of the Adriatic Sea has been a significant part of the most important traffic corridors since Antiquity due to its position as the deepest indented bay of the Mediterranean and numerous bays on the coast and is-lands. The central place throughout history was occupied by the central part - Split-Dalmatia County, with its center in Antica in Salona and later in Split. Nowadays, in addition to its traffic and economic importance, this area is also important for tourism, an area where Croatia develops its economy and realizing its economic growth. Nautical tourism is the most important form of the tourist economic sector that uses the geographical features of the Croatian Adriatic water area and achieves the greatest growth based on tour-ist trends in the world (coronavirus - separation from the masses, adventure tourism - own arrangements) and thus opens up the possibility of develop-ment for other parts of the tourist economy. This will be described in the ex-ample of the business of the Split-Dalmatia County shipping company from Krilo Jesenice, which operates as a mini-cruising service provider, the lead-ing form of cruising in Croatia. The advantages that this type of tourism provides to travelers in terms of customized itineraries, high-quality services, an intimate atmosphere, and a unique experience through familiarization with local culture and tradition will be considered. Through direct primary research and analysis of available secondary research data, an attempt will be made to show how traditional Croatian mini cruisers manage to stand out in a competitive tourist environment. Their impact on the local economy, sus-tainability, and environmental protection will be considered, as well as how they are integrated into the tourist offer of other destinations in Croatia. In addition, the challenges and opportunities that arise in the maintenance and development of traditional Croatian mini cruisers will be discussed, includ-ing issues such as infrastructure, staff training, and market trends.

Keywords: croatia, adriatic, cruising, nautical tourism, mini cruise

Procedia PDF Downloads 66

Authors: Shuailing Cui, Nakajiam Naoto

Abstract:

The tourism industry has experienced significant growth worldwide since the end of World War II. Tourists are drawn to suburban areas during weekends and holidays to explore historical and cultural heritage sites. Since the 1970s, there has been a resurgence in population growth in metropolitan areas, which has fueled the demand for suburban tourism and facilitated its development. The construction of infrastructure, such as railway lines and arterial roads, has also supported the growth of tourism. Tourists engaging in various activities can have a significant impact on the destinations they visit. Tourism has not only affected the local economy but has also begun to alter the social structures, culture, and lifestyle of the destinations visited. In addition, the growing number of tourists has affected the local commercial structure and daily life of suburban residents. Therefore, there is a need to figure out how tourism activities influence the residential environment of the tourist destination and how this influence changes over time. This study aims to analyze the transformation of the relationship between tourism activities and the residential environment in the Naka-Uji area of Uji City, Kyoto Prefecture. Specifically, it investigates how the growth of the tourism industry has influenced the local residential environment and how this influence has changed over time. The findings of the study indicate that the growth of tourism in the Naka-Uji area has had both positive and negative effects on the local residential environment. On the one hand, the tourism industry has created job opportunities and improved local economic conditions. On the other hand, it has also caused environmental degradation, particularly in terms of increased traffic and the construction of parking lots. The study also found that the development of the tourism industry has influenced the social structures, culture, and lifestyle of residents. For instance, the increase in the number of tourists has led to changes in the commercial structure and daily life of suburban residents. The study highlights the importance of collaboration and shared benefits among stakeholders in tourism development, particularly in terms of preserving the cultural and natural heritage of tourist destinations while promoting sustainable development. Overall, this study contributes to the growing body of research on the impact of tourism on suburban areas. It provides insights into the complex relationships between tourism, the natural environment, the local economy, and residential life and emphasizes the need for sustainable tourism development in suburban areas. The findings of this study have important implications for policymakers, urban planners, and other stakeholders involved in promoting regional revitalization and sustainable tourism development.

Keywords: tourism, residential environment, suburban area, metropolis

Procedia PDF Downloads 100

Authors: Shuailing CUI, Nakajima Naoto

Abstract:

The tourism industry has experienced significant growth worldwide since the end of World War II. Tourists are drawn to suburban areas during weekends and holidays to explore historical and cultural heritage sites. Since the 1970s, there has been a resurgence in population growth in metropolitan areas, which has fueled the demand for suburban tourism and facilitated its development. The construction of infrastructure, such as railway lines and arterial roads, has also supported the growth of tourism. Tourists engaging in various activities can have a significant impact on the destinations they visit. Tourism has not only affected the local economy but has also begun to alter the social structures, culture, and lifestyle of the destinations visited. In addition, the growing number of tourists has affected the local commercial structure and daily life of suburban residents. Therefore, there is a need to figure out how tourism activities influence the residential environment of the tourist destination and how this influence changes over time. This study aims to analyze the transformation of the relationship between tourism activities and the residential environment in the Naka-Uji area of Uji City, Kyoto Prefecture. Specifically, it investigates how the growth of the tourism industry has influenced the local residential environment and how this influence has changed over time. The findings of the study indicate that the growth of tourism in the Naka-Uji area has had both positive and negative effects on the local residential environment. On the one hand, the tourism industry has created job opportunities and improved local economic conditions. On the other hand, it has also caused environmental degradation, particularly in terms of increased traffic and the construction of parking lots. The study also found that the development of the tourism industry has influenced the social structures, culture, and lifestyle of residents. For instance, the increase in the number of tourists has led to changes in the commercial structure and daily life of suburban residents. The study highlights the importance of collaboration and shared benefits among stakeholders in tourism development, particularly in terms of preserving the cultural and natural heritage of tourist destinations while promoting sustainable development. Overall, this study contributes to the growing body of research on the impact of tourism on suburban areas. It provides insights into the complex relationships between tourism, the natural environment, the local economy, and residential life, and emphasizes the need for sustainable tourism development in suburban areas. The findings of this study have important implications for policymakers, urban planners, and other stakeholders involved in promoting regional revitalization and sustainable tourism development.

Keywords: tourism, residential environment, suburban area, metropolis

Procedia PDF Downloads 71

Authors: Dan Han, Yukun Zhang, Jie Zheng, Rui Zhang

Abstract:

Making full use of space along transportation infrastructure to develop renewable energy sources, especially solar energy resources, has become a research focus in relevant fields. In recent years, relevant international researches can be classified into three stages of theoretical and technical exploration, exploratory practice as well as planning implementation. Compared with traditional solar energy development mode, the development of solar energy resources in places along the transportation infrastructure has special advantages, which can also bring forth new opportunities for the development of green transportation. 'Road Integrated Photovoltaic', a development model of combining transport and new energy, has been actively studied and applied in developed countries, but it was still in its infancy in China. 'New Silk Road Economic Belt' has great advantage to carry out the 'Road Integrated Photovoltaic' because of the rich solar energy resources in its path, the shortages of renewable energy, the constraints of agricultural land and other reasons. Especially the massive amount of construction of transportation infrastructure brought by Silk Road Economic Belt, large area of developable land along the transportation line will be generated. Abundant solar energy recourses along the Silk Road will provide extremely superb practical opportunities to the land development along transportation infrastructure. We take PVsyst, GIS and Google map software for simulation of its potential by taking Lan-Xin Railway as an example, so potential electrical energy generation can be quantified and further analyzed. Research of 'New Silk Road Economic Belt' combined with 'Road Integrated Photovoltaic' is a creative development for the along transport and energy infrastructure. It not only can make full use of solar radiation and land in its path, but also bring more long-term advantages and benefits.

Keywords: land use, silk road economic belt, solar energy, transportation infrastructure

Procedia PDF Downloads 242

Authors: G. Sarwar, C. Mateus, N. Todorovic

Abstract:

The paper examines the asymmetries in size, value and momentum premium over the economic cycles in the UK and their macroeconomic determinants. Using Markov switching approach we find clear evidence of cyclical variations of the three premiums, most noticeably variations in size premium. We associate Markov switching regime 1 with economic upturn and regime 2 with economic downturn as per OECD’s Composite Leading Indicator. The macroeconomic indicators prompting such cyclicality the most are interest rates, term structure and credit spread. The role of GDP growth, money supply and inflation is less pronounced in our sample.

Keywords: macroeconomic determinants, Markorv Switching, size, value

Procedia PDF Downloads 486

Authors: Gulnaz Erkomaishvili

Abstract:

Introduction. One of the most important issues of state economic policy in the 21st century is the problem of environmental protection. The Georgian government considers the green economy as one of the most important means of sustainable economic development and takes the initiative to implement voluntary measures to promote sustainable development. In this context, it is important to promote the development of ecosystem services, clean production, environmental education and green jobs.The development of the green economy significantly reduces the inefficient use of natural resources, waste generation, emissions into the atmosphere and the discharge of untreated water into bodies of water.It is, therefore, an important instrument in the environmental orientation of sustainable development. Objectives.The aim of the paper is to analyze the current status of the green economy in Georgia and identify effective ways to improve the environmental, economic policy of sustainable development. Methodologies: This paper uses general and specific methods, in particular, analysis, synthesis, induction, deduction, scientific abstraction, comparative and statistical methods, as well as experts’ evaluation. bibliographic research of scientific works and reports of organizations was conducted; Publications of the National Statistics Office of Georgia are used to determine the regularity between analytical and statistical estimations. Also, theoretical and applied research of international organizations and scientist-economists are used. Contributions: The country should implement such an economic policy that ensures the transition to a green economy, in particular, revising water, air and waste laws, strengthening existing environmental management tools and introcing new tools (including economic tools). Perfecting the regulatory legal framework of the environmental impact assessment system, which includes the harmonization of Georgian legislation with the requirements of the European Union. To ensure the protection and rational use of Georgia's forests, emphasis should be placed on sustainable forestry, protection and restoration of forests.

Keywords: green economy, environmental protection, environmental protection economic policy, environmental protection policy challanges

Procedia PDF Downloads 67

Authors: Eduardas Spiriajevas

Abstract:

Since the end of the 20th century, when Lithuania regained its independence, a process of demographic shrinkage started. Recently, it affects the efficiency of implementation of actions related to regional development policy and geographic scopes of created value added in the regions. The demographic structures of human resources reflect onto the regions and their economic geographic environment. Due to reshaping economies and state reforms on restructuration of economic branches such as agriculture and industry, it affects the economic significance of services’ sector. These processes influence the competitiveness of labor market and its demographic characteristics. Such vivid consequences are appropriate for the structures of human migrations, which affected the processes of demographic ageing of human resources in the regions, especially in peripheral ones. These phenomena of modern times induce the demographic shrinkage of society and its economic geographic characteristics in the actions of regional development and in regional policy. The internal and external migrations of population captured numerous regional economic disparities, and influenced on territorial density and concentration of population of the country and created the economies of spatial unevenness in such small geographically compact country as Lithuania. The processes of territorial reshaping of distribution of population create new regions and their economic environment, which is not corresponding to the main principles of regional policy and its power to create the well-being and to promote the attractiveness for economic development. These are the new challenges of national regional policy and it should be researched in a systematic way of taking into consideration the analytical approaches of regional economy in the context of economic geographic research methods. A comparative territorial analysis according to administrative division of Lithuania in relation to retrospective approach and introduction of method of location quotients, both give the results of economic geographic character with cartographic representations using the tools of spatial analysis provided by technologies of Geographic Information Systems. A set of these research methods provide the new spatially evidenced based results, which must be taken into consideration in reshaping of national regional policy in economic geographic context. Due to demographic shrinkage and increasing differentiation of economic developments within the regions, an input of economic geographic dimension is inevitable. In order to sustain territorial balanced economic development, there is a need to strengthen the roles of regional centers (towns) and to empower them with new economic functionalities for revitalization of peripheral regions, and to increase their economic competitiveness and social capacities on national scale.

Keywords: demographic shrinkage, economic geography, Lithuania, regions

Procedia PDF Downloads 161

Authors: Revaz Gvelesiani

Abstract:

The problem of compliance between the state economic policy and entrepreneurial policy of businesses is primarily manifested in the contradictions related to the congruence between entrepreneurship development and self-development strategies. Among various types (financial, monetary, social, etc.) of the state economic policy aiming at the development of entrepreneurship, economic order policy is of special importance. Its goal is to set the framework for both public and private economic activities and achieve coherence between the societal value system and the formation of the economic order framework. Economic order policy, in its turn, involves intrinsic contradiction between the social and the competitive order. Competitive order is oriented on the principle of success, while social order _ on the criteria of need satisfaction, which contradicts, at least partly, to the principles of success. Thus within the economic order policy, on the one hand, the state makes efforts to form social order and expand its frontiers, while, on the other hand, market is determined to establish functioning competitive order and ensure its realization. Locating the adequate spaces for and setting the rational border between the state (social order) and the private (competitive order) activities, represents the phenomenon of the decisive importance from the entrepreneurship development strategy standpoint. In the countries where the above mentioned spaces and borders are “set” correctly, entrepreneurship agents (small, medium-sized and large businesses) achieve great success by means of seizing the respective segments and maintaining the leading positions in the internal, the European and the world markets for a long time. As for the entrepreneurship self-development strategy, above all, it involves: •market identification; •interactions with consumers; •continuous innovations; •competition strategy; •relationships with partners; •new management philosophy, etc. The analysis of compliance between the entrepreneurship strategy and entrepreneurship culture should be the reference point for any kind of internationalization in order to avoid shocks of cultural nature and the economic backwardness. Stabilization can be achieved only when the employee actions reflect the existing culture and the new contents of culture (targeted culture) is turned into the implicit consciousness of the personnel. The future leaders should learn how to manage different cultures. Entrepreneurship can be managed successfully if its strategy and culture are coherent. However, not rarely enterprises (organizations) show various forms of violation of both personal and team actions. If personal and team non-observances appear as the form of influence upon the culture, it will lead to global destruction of the system and structure. This is the entrepreneurship culture pathology that complicates to achieve compliance between the entrepreneurship strategy and entrepreneurship culture. Thus, the intrinsic contradictions of entrepreneurship development and self-development strategies complicate the task of reaching compliance between the state economic policy and the company entrepreneurship policy: on the one hand, there is a contradiction between the social and the competitive order within economic order policy and on the other hand, the contradiction exists between entrepreneurship strategy and entrepreneurship culture within entrepreneurship policy.

Keywords: economic order policy, entrepreneurship, development contradictions, self-development contradictions

Procedia PDF Downloads 330

Authors: Enas R. Shouman

Abstract:

Economic development with population growth is leading to a continuous increase in energy demand. At the same time, growing global concern for the environment is driving to decrease the use of conventional energy sources and to increase the use of renewable energy sources. The objective of this study is to present the market trends of solar energy photovoltaic technology over the world and to represent economics methods for PV financial analyzes on the basis of expectations for the expansion of PV in many applications. In the course of this study, detailed information about the current PV market was gathered and analyzed to find factors influencing the penetration of PV energy. The paper methodology depended on five relevant economic financial analysis methods that are often used for investment decisions maker. These methods are payback analysis, net benefit analysis, saving-to-investment ratio, adjusted internal rate of return, and life-cycle cost. The results of this study may be considered as a marketing guide that helps diffusion of using PV Energy. The study showed that PV cost is economically reliable. The consumers will pay higher purchase prices for PV system installation but will get lower electricity bill.

Keywords: photovoltaic, financial methods, solar energy, economics, PV panel

Procedia PDF Downloads 110

Authors: Nighat Zia-ud-Den, Shazia Anwer Bukhari

Abstract:

In the present study, sunflower seeds were exposed to magnetic bio-stimulation at different milli Tesla, and their effects were studied. The present study addressed to establish the effectiveness of magnetic bio-stimulation on seed germination, growth, and other dynamics of crop growth. The changes in physiological characters, i.e. the growth parameters of seedlings (biomass, root and shoot length, fresh and dry weight of root shoot leaf and fruit, leaf area, the height of plants, number of leaves, and number of fruits per plant) and antioxidant activities were measured. The parameters related to germination and growth were measured under controlled conditions while they changed significantly compared with that of the control. These changes suggested that magnetic seed stimulator enhanced the inner energy of seeds, which contributed to the acceleration of the growth and development of seedlings. Moreover, pretreatment with a magnetic field was found to be a positive impact on sunflower seeds germination, growth, and other biochemical parameters.

Keywords: sunflower seeds, physical priming method, biochemical parameters, antioxidant activities

Procedia PDF Downloads 167

Authors: Oluchukwu P. Obioma, Amarachi R. Dike

Abstract:

Competition law promotes market competition by regulating anti-competitive conduct by undertakings. There is a need for a third party to regulate the market for efficiency and supervision, since, if the market is left unchecked, it may be skewed against the consumers and the economy. Competition law is geared towards the protection of consumers from economic exploitation. It is the duty of every rational government to optimally manage its economic system by employing the best regulatory practices over the market to ensure it functions effectively and efficiently. The Nigerian government has done this by enacting the Federal Competition and Consumer Protection Act, 2018 (FCCPA). This is a comprehensive legal framework with the objective of governing competition issues in Nigeria. Prior to its enactment, the competition law regime in Nigeria was grossly inadequate despite Nigeria being the biggest economy in Africa. This latest legislation has become a bold step in the right direction. This study will use the doctrinal methodology in analyzing the FCCPA, 2018 in order to discover the extent to which the Act will guard against anti-competitive practices and promote competitive markets for the benefit of the Nigerian economy and consumers. The study finds that although the FCCPA, 2018 provides for the regulation of competition in Nigeria, there is a need to effectively tackle the challenges to the implementation of the Act and the development of anti-trust jurisprudence in Nigeria. This study concludes that incisive implementation of competition law in Nigeria will help protect consumers and create a conducive environment for economic growth, development, and protection of consumers from obnoxious competition practices.

Keywords: anti-competitive practices, competition law, competition regulation, consumer protection.

Procedia PDF Downloads 181

Authors: Daniel Muwooya

Abstract:

This paper analyses economic factors that have affected the competitiveness of petroleum refinery and petrochemical projects in sub-Saharan Africa in the past and continue to plague greenfield projects today. Traditional factors like plant sizing and complexity, low-capacity utilization, changing regulatory environment, and tighter product specifications have been important in the past. Additional factors include the development of excess refinery capacity in Asia and the growth of renewable sources of energy – especially for transportation. These factors create both challenges and opportunities for the development of greenfield refineries and petrochemical projects in areas of increased demand growth and new low-cost crude oil production – like sub-Saharan Africa. This paper evaluates the strategies available to project developers and host countries to address contemporary issues of energy transition and the apparent reduction of funds available for greenfield oil and gas projects. The paper also evaluates the structuring of greenfield refinery and petrochemical projects for limited recourse project finance bankability. The methodology of this paper includes analysis of current industry data, conference proceedings, academic papers, and academic books on the subjects of petroleum refinery economics, refinery financing, refinery operations, and project finance generally and specifically in the oil and gas industry; evaluation of expert opinions from journal articles; working papers from international bodies like the World Bank and the International Energy Agency; and experience from playing an active role in the development and financing of US$ 10 Billion greenfield oil development project in Uganda. The paper also applies the discounted cash flow modelling to illustrate the circumstances of an inland greenfield refinery project in Uganda. Greenfield refinery and petrochemical projects are still necessary in sub-Saharan Africa to, among other aspirations, support the transition from traditional sources of energy like biomass to such modern forms as liquefied petroleum gas. Project developers and host governments will be required to structure projects that support global climate change goals without occasioning undue delays to project execution.

Keywords: financing, refinery and petrochemical economics, Africa, project finance

Procedia PDF Downloads 59

Authors: Sun fang, Zhang Wenxin

Abstract:

This paper establishes an evaluation index system for spatio-temporal patterns of urbanization, with the county as research unit. We use the Entropy Weight method, coefficient variance, the Theil index and ESDA-GIS to analyze spatial patterns and evolutionary characteristics of New-Type Urbanization in the Central Plains Economic Region (CPER) between 2000 and 2011. Results show that economic benefit, non-agricultural employment level and level of market development are the most important factors influencing the level of New-Type Urbanization in the CPER; overall regional differences in New-Type Urbanization have declined while spatial correlations have increased from 2000 to 2011. The overall spatial pattern has changed little, however; differences between the western and eastern areas of the CPER are clear, and the pattern of a strong west and weak east did not change significantly over the study period. Areas with high levels of New-Type Urbanization were mostly distributed along the Beijing-Guangzhou and LongHai Railways on both sides, a new influx of urbanization was tightly clustered around ZhengZhou in the Central Henan Urban Agglomeration, but this trend was found to be weakening slightly. The level of New-Type Urbanization in municipal districts was found to be much higher than it was in the county generally. Provincial borders experienced a lower rate of growth and a lower level of New-Type Urbanization than did any other areas, consistently forming clusters of cold spots and sub-cold spots. The analysis confirms that historical development, location, and diffusion effects of urban agglomeration are the main drivers of changes in New-Type Urbanization patterns in CPER.

Keywords: new-type urbanization, spatial pattern, central plains economic region, spatial evolution

Procedia PDF Downloads 292

Authors: Wenting Pan, Fang Chen

Abstract:

The aim is to increase understanding of the potential effects of religion and economy development in East and Southeast Asia. Religion developed in the east, and southeast Asia is connected with community intensively, especially the activities by women. It could facilitate spiritual awakening in the community and economic empowerment. The theories were assessed by using survey information for Wenzhou which is the legendary city of Chinese economic development, measuring attendance at formal religious services, religious beliefs, and self-identification as religious. Wenzhou’s chamber of commerce is all over the world. Apart from large and small processing factories, Wenzhou is dotted with temples and Taoist temples. In the survey four of the control variables (size of temples, profitability, multiple densities, type of industry and so on) were significant issues to find a relationship between local people and the culture of local religion. What’s more, women should be taken into account seriously. This study has social economy implications for Wenzhou as well as a number of other countries in the East and Southeast Asia.

Keywords: East and Southeast Asia, economy development, Religion, Wenzhou

Procedia PDF Downloads 319

Authors: Siriwan Saksiriruthai

Abstract:

This paper reviews and analyzes impact of foreign migration on innovation for Thailand. With the analysis of decades of industrial and economic development, Thailand has attracted investment by providing cheap labor and low cost of production. Foreign migrant substantially contribute to the development by supplying lower wages with low-skilled workers. However, it is revealed that foreign low-skilled labor influx has a negative effect on innovation. Firms concentrate on benefits from low cost of production and are not motivated to invest for innovation. Therefore, with the emerging of new economies where lower wage laborers are offered, Thailand has to promote innovation to maintain economic development sustainability.

Keywords: migration, innovation, Thailand, foreign

Procedia PDF Downloads 378

Authors: Mengdan Guo, Zongmin Wang, Haibo Yang

Abstract:

Drought is one of the most complex and destructive natural disasters, with a huge impact on both nature and society. In recent years, adverse climate conditions and uncontrolled human activities have exacerbated the occurrence of global droughts, among which socio-economic droughts are closely related to human survival. The study of socio-economic drought risk assessment is crucial for sustainable social development. Therefore, this study comprehensively considered the risk of disaster causing factors, the exposure level of the disaster-prone environment, and the vulnerability of the disaster bearing body to construct a socio-economic drought risk assessment model for Chuxiong Prefecture in Yunnan Province. Firstly, a threedimensional frequency analysis of intensity area duration drought was conducted, followed by a statistical analysis of the drought risk of the socio-economic system. Secondly, a grid analysis model was constructed to assess the exposure levels of different agents and study the effects of drought on regional crop growth, industrial economic growth, and human consumption thresholds. Thirdly, an agricultural vulnerability model for different irrigation levels was established by using the DSSAT crop model. Industrial economic vulnerability and domestic water vulnerability under the impact of drought were investigated by constructing a standardized socio-economic drought index and coupling water loss. Finally, the socio-economic drought risk was assessed by combining hazard, exposure, and vulnerability. The results show that the frequency of drought occurrence in Chuxiong Prefecture, Yunnan Province is relatively high, with high population and economic exposure concentrated in urban areas of various counties and districts, and high agricultural exposure concentrated in mountainous and rural areas. Irrigation can effectively reduce agricultural vulnerability in Chuxiong, and the yield loss rate under the 20mm winter irrigation scenario decreased by 10.7% compared to the rain fed scenario. From the perspective of comprehensive risk, the distribution of long-term socio-economic drought risk in Chuxiong Prefecture is relatively consistent, with the more severe areas mainly concentrated in Chuxiong City and Lufeng County, followed by counties such as Yao'an, Mouding and Yuanmou. Shuangbai County has the lowest socio-economic drought risk, which is basically consistent with the economic distribution trend of Chuxiong Prefecture. And in June, July, and August, the drought risk in Chuxiong Prefecture is generally high. These results can provide constructive suggestions for the allocation of water resources and the construction of water conservancy facilities in Chuxiong Prefecture, and provide scientific basis for more effective drought prevention and control. Future research is in the areas of data quality and availability, climate change impacts, human activity impacts, and countermeasures for a more comprehensive understanding and effective response to drought risk in Chuxiong Prefecture.

Keywords: DSSAT model, risk assessment, socio-economic drought, standardized socio-economic drought index

Procedia PDF Downloads 55

Authors: Paolo Russu

Abstract:

The purpose of the present paper is to highlight some features of an economic growth model with environmental negative externalities, giving rise to a three-dimensional dynamic system. In particular, we show that the economy, which is based on a Perfect-Substitution Technologies function of production, has no neither indeterminacy nor poverty trap. This implies that equilibrium select by economy depends on the history (initial values of state variable) of the economy rather than on expectations of economies agents. Moreover, by contrast, we prove that the basin of attraction of locally equilibrium points may be very large, as they can extend up to the boundary of the system phase space. The infinite-horizon optimal control problem has the purpose of maximizing the representative agent’s instantaneous utility function depending on leisure and consumption.

Keywords: Hopf bifurcation, open-access natural resources, optimal control, perfect-substitution technologies, Poincarè compactification

Procedia PDF Downloads 172

Authors: Muhammad Arsalan

Abstract:

The efficiency of a financial intermediation system is assessed by its ability to achieve allocative efficiency, asset transformation, and the subsequent economic development. Islamic Banking and Finance (IBF) was conceived to serve as an alternate financial intermediation system adherent to the injunctions of Islam. A critical appraisal of the state of contemporary IBF reveals that it neither fulfills the aspirations of Islamic rhetoric nor is efficient in terms of asset transformation and economic development. This paper is an intuitive pursuit to explore the economic rationale of established principles of IBF, and the reasons of the persistent divergence of IBF being accused of ruses and sophistry. Disentangling the varying viewpoints, the underdevelopment of IBF has been attributed to misinterpretation of Riba, which has been explicated through a narrow fiqhi and legally deterministic approach. It presents a critical account of how incorrect conceptualization of the key injunction on Riba, steered flawed institutionalization of an Islamic Financial intermediation system. It also emphasizes on the wrong interpretation of the ontological and epistemological sources of Islamic Law (primarily Riba), that explains the perennial economic underdevelopment of the Muslim world. Deeming ‘a collaborative and dynamic Ijtihad’ as the elixir, this paper insists on the exigency of redefining Riba, i.e., a definition that incorporates the modern modes of economic cooperation and the contemporary financial intermediation ecosystem. Finally, Riba has been articulated in an agency theoretic framework to eschew expropriation of wealth, and assure protection of property rights, aimed at realizing the twin goals of a) Shari’ah adherence in true spirit, b) financial and economic development of the Muslim world.

Keywords: agency theory, financial intermediation, Islamic banking and finance, ijtihad, economic development, Riba, information asymmetry

Procedia PDF Downloads 142

Authors: Claudia Trillo

Abstract:

Regional innovation eco-ecosystems are composed of a variety of interconnected urban innovation eco-systems, mutually reinforcing each other and making the whole territorial system successful. Combining principles drawn from the new economic growth theory and from the socio-constructivist approach to the economic growth, with the new geography of innovation emerging from the networked nature of innovation districts, this paper explores the spatial configuration of urban innovation districts, with the aim of unveiling replicable spatial patterns and transferable portfolios of urban policies. While some authors suggest that cities should be considered ideal natural clusters, supporting cross-fertilization and innovation thanks to the physical setting they provide to the construction of collective knowledge, still a considerable distance persists between regional development strategies and urban policies. Moreover, while public and private policies supporting entrepreneurship normally consider innovation as the cornerstone of any action aimed at uplifting the competitiveness and economic success of a certain area, a growing body of literature suggests that innovation is non-neutral, hence, it should be constantly assessed against equity and social inclusion. This paper draws from a robust qualitative empirical dataset gathered through 4-years research conducted in Boston to provide readers with an evidence-based set of recommendations drawn from the lessons learned through the investigation of the chosen innovation districts in the Boston area. The evaluative framework used for assessing the overall performance of the chosen case studies stems from the Habitat III Sustainable Development Goals rationale. The concept of inclusive growth has been considered essential to assess the social innovation domain in each of the chosen cases. The key success factors for the development of the Boston innovation ecosystem can be generalized as follows: 1) a quadruple helix model embedded in the physical structure of the two cities (Boston and Cambridge), in which anchor Higher Education (HE) institutions continuously nurture the Entrepreneurial Environment. 2) an entrepreneurial approach emerging from the local governments, eliciting risk-taking and bottom-up civic participation in tackling key issues in the city. 3) a networking structure of some intermediary actors supporting entrepreneurial collaboration, cross-fertilization and co-creation, which collaborate at multiple-scales thus enabling positive spillovers from the stronger to the weaker contexts. 4) awareness of the socio-economic value of the built environment as enabler of cognitive networks allowing activation of the collective intelligence. 5) creation of civic-led spaces enabling grassroot collaboration and cooperation. Evidence shows that there is not a single magic recipe for the successful implementation of place-based and social innovation-driven strategies. On the contrary, the variety of place-grounded combinations of micro and macro initiatives, embedded in the social and spatial fine grain of places and encompassing a diversity of actors, can create the conditions enabling places to thrive and local economic activities to grow in a sustainable way.

Keywords: innovation-driven sustainable Eco-systems , place-based sustainable urban development, sustainable innovation districts, social innovation, urban policie

Procedia PDF Downloads 106

Authors: N. K. Gupta, R. C. Bhattacharjee

Abstract:

In the aftermath of the tsunami in 2004 and terrible humanitarian disaster affecting thousands of kilometers of coastal south, the immediate priority is to begin the process of reconstruction of livelihoods including basic services. It is likely that many coastal wetlands would have been affected by the large inflow of salt-water and littoral sediments during the tsunami, with longer-term effects including changes in their hydrogeology caused by changes to coastlines and damage to sea-defenses. The reconstruction process is likely to provide opportunities to better integrate environmental protection and management with economic development in the region, including the opportunity to conserve and restore coastal habitats. Presented herein is a study pertaining to salinity problems encountered in coastal south during tsunami in 2004 and the consequent loss of fertility of agricultural land including remedial measures to revitalize economic growth in the region.

Keywords: tsunami, salinity, costal area, reconstruction

Procedia PDF Downloads 375

Authors: Berie Abebe Getahun

Abstract:

The tourism sector has been identified by the Ethiopian government as one of the priority economic sectors and planned to make Ethiopia among the top five African destinations by 2020. It is obvious international tourism demand for Ethiopia lags behind other African countries like South Africa, Egypt, Morocco, Tanzania, and Kenya. Meanwhile, the number of international tourists’ arrival to Ethiopia increases continuously. The main purpose of this study was to find out potentials, challenges, and opportunities of Ethiopian Cultural Center for tourism product development. Therefore, an attempt has been made to identify potentials over which tourism product development can be enhanced, and opportunities that promote tourism product development in Ethiopia. To achieve this objective, data have been collected by using observation, interview and focus group discussion with selected informants working the ministry of tourism and culture. The collected data has been analyzed by transcribing materials, and by using thematic analysis method based on the research objective. Likewise, the analyzed data has been discussed in the context of prevailing literature. As revealed in finding, Ethiopian cultural center has untapped potential for tourism product development that includes: meetings, incentives, conferences, events, availability of concerned stakeholders and demand of visitors. On the other hand, lack of awareness about tourism product development, financial constraints, skilled manpower, absence of tour guiding service and interpretation of heritages have been identified as the major challenges that hindering tourism product development in the cultural center. Moreover, the growth of domestic tourism, distinctive presence and rich culture of Ethiopia, and policy of Ethiopia that promotes the growth and preservation of indigenous cultures are deemed important opportunities for tourism product development in the country. And lastly, conducting a research based on tourism product development, reviewing the existing marketing and promotion strategies, training manpower, working harmoniously with the concerned stakeholders, and a careful examination of opportunities present in order to best utilize resources were implications drawn for future intervention.

Keywords: challenges and opportunities of tourism, Ethiopian tourism potential, tourism product, tourism product development

Procedia PDF Downloads 162