Search results for: developing economy

Authors: S. K. Ashiquer Rahman

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Innovation, sustainability, and higher education are vital issues of the knowledge economy and society. In fact, the concentration on these issues, educators and researchers convinced the learners to prepare productive citizens for the knowledge economy and society, and many initiatives have been launched worldwide. The concept of a knowledge economy requires simultaneous and balanced progress in three dimensions (Innovation, Education and Sustainability) which are totally interdependent and correlated. The paper discusses the importance of an integrated approach to the knowledge economy and society from the perspective of higher education institutions. It remarks on the advent of a knowledge-based economy and society and the need for the combination of Innovation, sustainability, and education. This paper introduces nine (9) important issues or challenges of higher education institutions that have emphasized, cross-linked each other, and combined in a new education system that can form a new generation for the completive world as well as able to manage the knowledge-based economy and societal system. Moreover, the education system must be the foundation for building the necessary knowledge-based economy and society, which must manage the innovation process through a more sustainable world. In this viewpoint, Innovation, sustainability and higher education are becoming more and more central in our economy and society, and it is directly associated with the possibility of global wealth distribution to the economy and society. The objective of this research is to demonstrate the knowledge-based economy and social paradigm in order to create the opportunity for higher education institutions' development. The paper uses the collective action methodologies to examine “the mechanisms and strategies” used by higher education institutions’ authority to accommodate an integrated pattern as per connecting behaviors of knowledge economy and society. The paper accomplishes that the combination of Innovation, sustainability and education is a very helpful approach to building a knowledge-based economy and society for practicing the higher education institution’s challenges.

Keywords: education, innovation, knowledge economy, sustainability

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Authors: J. Burlakovs, Y. Jani, L. Grinberga, M. Kriipsalu, O. Anne, I. Grinfelde, W. Hogland

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The worldwide future sustainable economies are oriented towards the sea: the maritime economy is becoming one of the strongest driving forces in many regions as population growth is the highest in coastal areas. For hundreds of years sea resources were depleted unsustainably by fishing, mining, transportation, tourism, and waste. European Sustainable Development Strategy is identifying and developing actions to enable the EU to achieve a continuous, long-term improvement of the quality of life through the creation of sustainable communities. The aim of this paper is to provide insight in Baltic Sea Region case studies on implemented actions on tourism industry waste and beach wrack management in coastal areas, hazardous contaminants and plastic flow treatment from waste, wastewaters and stormwaters. These projects mentioned in study promote successful prevention of contaminant flows to the sea environments and provide perspectives for creation of valuable new products from residuals for future circular economy are the step forward to green innovation winning streak.

Keywords: resilience, hazardous waste, phytoremediation, water management, circular economy

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Authors: M. Novak, J. Dufourmount, D. Wildi, A. Sutherland, L. Sosa, J. Zimmer, E. Szabo

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The circular economy has grounded itself amongst scholars and practitioners operating across governments and enterprises. The aim of this paper is to augment the circular economy concept by identifying common core and enabling circular business models. To this aim, we have analysed over 150 papers regarding circular activities and identified 8 clusters of business models and enablers. We have mapped and harmonised the most prominent frameworks conceptualising the circular economy. Our findings indicate that circular economy core business models include regenerative in addition to reduce, reuse and recycle activities. We further find enabling activities in design, digital technologies, knowledge development and sharing, multistakeholder collaborations, and extended corporate responsibility initiatives in various forms. We critically contrast the application of these business models across the European and African contexts. Overall, we find that seemingly varied circular economy definitions distill the same conceptual business models. We hope to contribute towards the coherence of the circular economy concept, and the continuous development of practical guidance to select and implement circular strategies.

Keywords: Circular economy, content analysis, business models, definitions, enablers, frameworks

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Authors: Vakhtang Charaia

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The article focuses on the role of FDI in Georgia’s economic development for the last decade. To attract as much FDI as possible a proper investment climate should be on the place-institutional, policy and regulatory environment. Well-developed investment climate is the chance and motivation for both, local economy and foreign companies, to generate maximum income, create new work places and improve the quality of life. FDI trend is one of the best indicators of country’s economic sustainability and its attractiveness. Especially for small and developing countries, the amount of FDI matters, therefore, most of such countries are trying to compete with each other through improving their investment climate according to different world famous indexes. As a result of impressive reforms since 2003, Georgian economy was benefited with large invasion of FDI. However, the level of per capita GDP is still law in comparison to Eastern European countries and it should be improved. The main idea of the paper is to show a real linkage between FDI and employment ration, on the case of Georgian economy.

Keywords: foreign direct investment, employment, economic growth, taxes, corruption, sustainable development

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Authors: Ahmed Abdullah, Lyndon Murphy, Brychan Thomas

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Increasingly, in developed and developing countries, small and medium-sized enterprises (SMEs) are becoming more important to national economies due to their strategic significance in developing different industrial sectors Worldwide. SMEs play a major role in an economy by significantly contributing to the enhancement of the countries’ gross domestic product and its labor force by creating more job opportunities and developing skilled labor. Rapid development has been witnessed in the World within different aspects of life, especially the technological revolution such as e-business. This has become a feature of this era requiring us to ‘keep-up’ in our daily society, losing the traditional pattern of our daily lives and combining scientific methodology of an analytical and experimental nature. In the past few years the emergence of e-business and e-commerce in the world has been carefully surveyed. There is widespread use of the internet in every aspect and phase of business.

Keywords: e-business, e-business activities, SMEs, e-adoption ladder

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Authors: Hong Bum Kim

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Health technology (HT) area have high growth potential because of global trends such as ageing and economical development. For its high employment effect and capability for creating new business, HT is being considered as one of the major next-generation growth power. Particularly, convergence technologies which are emerged by fusion of HT and other technological area is emphasized for new industry creation in Korea, as a part of Creative Economy. In this study, current status of HT area in Korea is analyzed. The aspect of transition in emphasized technological area of HT-related national R&D enterprise is statistically reviewed. Current level of HT-related technologies such as BT, IT and NT is investigated in this context. Existing research system for HT-convergence technology development such as establishment of research center is also analyzed. Finally, proposed research support system such as system of legislation for developing HT area as one of the main component of Creative Economy in Korea will be analyzed. Analysis of technology trend and policy will help to draw a new direction in progression of R&D enterprise in HT area. Improvement of policy such as legal system reorganization and measure of social agreement for burden of expense could be deduced based on these results.

Keywords: HT, creative economy, policy, national R&D programs

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Authors: Gechbaia Badri

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The paper discusses in today's world of economic globalization and development of innovative economic integration is one of the issues of the day in the world. The article analyzes the innovation economy development trends in EU, showed the innovation economy formation of the main problems and results, also the development of innovative potential of the economy. The author reckons that the European economy will contribute to the development of innovative economic space of speech in recent years developed a financial and economic crisis.

Keywords: European Union, innovative system, innovative development, innovations

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Authors: Mikhail V. Khachaturyan, Inga A. Koryagina, Maria Nikishova

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The study investigates the impact of the ongoing financial crisis, started in the 2^nd half of 2014, on marketing budgets spent by Fast-moving consumer goods companies. In these conditions, special importance is given to efficient possessory risk management systems. The main objective for establishing and developing possessory risk management systems for FMCG companies in a crisis is to analyze the data relating to the external environment and consumer behavior in a crisis. Another important objective for possessory risk management systems of FMCG companies is to develop measures and mechanisms to maintain and stimulate sales. In this regard, analysis of risks and threats which consumers define as the main reasons affecting their level of consumption become important. It is obvious that in crisis conditions the effective risk management systems responsible for development and implementation of strategies for consumer demand stimulation, as well as the identification, analysis, assessment and management of other types of risks of economic security will be the key to sustainability of a company. In terms of financial and economic crisis, the problem of forming and developing possessory risk management systems becomes critical not only in the context of management models of FMCG companies, but for all the companies operating in other sectors of the Russian economy. This study attempts to analyze the specifics of formation and development of company possessory risk management systems. In the modern economy, special importance among all the types of owner’s risks has the risk of reduction in consumer activity. This type of risk is common not only for the consumer goods trade. Study of consumer activity decline is especially important for Russia due to domestic market of consumer goods being still in the development stage, despite its significant growth. In this regard, it is especially important to form and develop possessory risk management systems for FMCG companies. The authors offer their own interpretation of the process of forming and developing possessory risk management systems within owner’s management models of FMCG companies as well as in Russian economy in general. Proposed methods and mechanisms of problem analysis of formation and development of possessory risk management systems in FMCG companies and the results received can be helpful for researchers interested in problems of consumer goods market development in Russia and overseas.

Keywords: FMCG companies, marketing budget, risk management, owner, Russian economy, organization, formation, development, system

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Authors: Chaiwat Wuthinitikornkit

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Foreign Direct Investment (FDI) inevitably affects the landscape of the political economy of the host country. It is, therefore, significant to review and uncover how and in what way(s) FDI shapes the preferences of the interest groups within the host country, as such preferences may, in turn, influence the policies of the host country. By conducting a review of relevant literature, this paper attempts to outline the key forces behind such preferences and identify potential gaps for future studies. This paper argues that while existing theories have specified endowment and political and institutional factors as key explanations behind the preferences of domestic interest groups, other qualitative attributes of the foreign investors' side, such as their nationalities, have yet to be adequately investigated empirically and may potentially also possess explanatory power. This is particularly important in the current global economic landscape, where key global investors hail from origins from both developed and developing countries with diverse political systems and business practices. This paper aims to provide the groundwork for future studies on these potential gaps, which may provide not only contributions to the academic sphere but also practical insight into policymaking and business communities.

Keywords: foreign direct investment, interest groups, international political economy, political economy

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Authors: Amirhossen Zare Rahvard

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Freemium games based on the gacha mechanic have proven highly successful in recent years - games with simple graphics and simple gameplay systems but with a highly profitable market. Attempts at developing gacha games have even been made in Iran. Since gacha games are both profitable and easy to develop, they seem to be a suitable starting point for establishing a video game market in underdeveloped countries. This article aims to review the gacha games' approach to gaining revenue by studying the case of Arknights game in order to draw an outline of how simple games have led to great markets.

Keywords: gacha games, game’s economy, underdeveloped countries and games, arkngihts

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Authors: Pınar Yardımcı

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This paper tries to answer to the questions whether or not trade openness cause economic growth and trade policy changes is good for Turkey as a developing country in global economy before and after 1980. We employ Johansen cointegration and Granger causality tests with error correction modelling based on vector autoregressive. Using WDI data from the pre-1980 and the post-1980, we find that trade openness and economic growth are cointegrated in the second term only. Also the results suggest a lack of long-run causality between our two variables. These findings may imply that trade policy of Turkey should concentrate more on extra complementary economic reforms.

Keywords: globalization, trade policy, economic growth, openness, cointegration, Turkey

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Authors: Mujahid Sultan

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The IT industry has seen many transformations in the Software Development Life Cycle (SDLC) methodologies and development approaches. SDLCs range from waterfall to agile, and the development approaches from monolith to microservices. Management, orchestration, and monetization of microservices have created an API economy in the modern enterprise. There are two approaches to API design, code first and design first. Design first is gaining popularity in the industry as this allows capturing the API needs from the stakeholders rather than the development teams guesstimating the needs and associating a monetary value with the APIs and microservices. In this publication, we describe an approach to organizing and creating stakeholder needs and requirements for designing microservices and APIs.

Keywords: requirements engineering, enterprise architecture, APIs, microservices, DevOps, continuous delivery, continuous integration, stakeholder viewpoints

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Authors: Manee Arpanantikul, Pennapa Unsanit, Dolrat Rujiwatthanakorn, Aporacha Lumdubwong

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In order to continuously perform self-care based on the sufficiency economy philosophy for the length of women’s lives is not easy. However, there are different ways that women can use to carry out self-care activities regularly. Some women individually perform self-care while others perform self-care in groups. Little is known about ways to sustaining self-care of women based on the fundamental principle of Thai culture. The purpose of this study was to investigate ways to sustaining self-care based on the sufficiency economy philosophy of Thai middle-aged women living in the community in order to achieve future healthy aging. This study employed a qualitative research design. Twenty women who were willing to participate in this study were recruited. Data collection were conducted through in-depth interviews with tape recording, doing field notes, and observation. All interviews were transcribed verbatim, and data were analyzed by using content analysis. The findings showed ways to sustaining self-care of Thai community women to achieve future healthy aging consisting of 7 themes: 1) having determination, 2) having a model, 3) developing a leader, 4) carrying on performing activities, 5) setting up rules, 6) building self-care culture, and 7) developing a self-care group/network. The findings of this study suggested that in order to achieve self-care sustainability women should get to know themselves, have intention and belief, together with having the power of community and support. Therefore, having self-care constantly will prevent disease and promote healthy in women’s lives.

Keywords: qualitative research, sufficiency economy philosophy, Thai middle-aged women, ways to sustaining self-care

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Authors: B. N. Asare, O. A. Ajigini

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Information systems (IS) are highly important in the operation of private and public organisations in developing and developed countries. Developing countries are saddled with many project failures during the implementation of information systems. However, successful information systems are greatly needed in developing countries in order to enhance their economies. This paper is highly important in view of the high failure rate of information systems in developing countries which needs to be reduced to minimum acceptable levels by means of recommended interventions. This paper centres on a review of IS development in developing countries. The paper presents evidences of the IS successes and failures in developing countries and posits a model to address the IS failures. The proposed model can then be utilised by developing countries to reduce their IS project implementation failure rate. A comparison is drawn between IS development in developing countries and developed countries. The paper provides valuable information to assist in reducing IS failure, and developing IS models and theories on IS development for developing countries.

Keywords: developing countries, information systems, IS development, information systems failure, information systems success, information systems success model

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Authors: Sibusiso Mnyanda

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Storytelling through motion pictures is a valuable economy. South Africa was one of the first countries in the world to see and hear sound motion pictures With Lingards Waxworks in Durban first showing them in August 1895. This article celebrates and takes a microscopic look into the developments of this industry and its economy, highlighting these fundamentals: Skill levels and talent sets that were displayed in this emergence, the quality of the products that were produced by filmmakers and actors, the level of Administration and quality assurance of production houses and the general infrastructure and resources available to the industry at the time.

Keywords: film, Africa, production economy, history

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Authors: M. A. Rahman, A. O. Enikuomehin

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Sharing commitment to reach a common goal in research by harnessing available resources from two or more parties can simply be referred to as collaborative research. Asides from avoiding duplication of research, the benefits often accrued from such research alliances include time economy as well as expenses reduction in completing such studies. Likewise, it provides an avenue to produce a wider horizon of scientific knowledge sequel to gathering of skills, knowledge and resources. In institutions of higher learning and research institutes, it often gives scholars an opportunity to strengthen the teaching and research capacity of their various institutions. Between industries and institutions, collaborative research breeds promising relationship that could be geared towards addressing different research problems such as producing and enhancing industrial-based products and services, including technological transfer. For Nigeria to take advantage of this collaboration, different issues like licensing of technology, intellectual property right, confidentiality, and funding among others, which could arise during this collaborative research programme, are identified in this paper. An important tool required to achieve this height in developing economy is the use of appropriate computer model. The paper highlights the costs of the collaborations and likewise stresses the need for evaluating the effectiveness and efficiency of such collaborative research activities and proposes an appropriate computer model to assist in this regard.

Keywords: collaborative research, developing country, computerization, model

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Authors: Susanna Vanhamäki, Gabor Schneider, Kati Manskinen

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‘Bioeconomy’ is a complex concept that cuts across many sectors and covers several policy areas. To achieve an overall understanding and support a successful bioeconomy, a cross-sectorial approach is necessary. In practice, due to the concept’s wide scope and varying international approaches, fully understanding bioeconomy is challenging on policy level. This paper provides a background of the topic through an analysis of bioeconomy strategies in the Baltic Sea region. Expert interviews and a small survey were conducted to discover the current and intended focuses of these countries’ bioeconomy sectors. The research shows that supporting sustainability is one of the keys in developing the future bioeconomy. The results highlighted that the bioeconomy has to be sustainable and based on circular economy principles. Currently, traditional bioeconomy sectors like food, wood, fish & waters as well as fuel & energy, which are in the core of national bioeconomy strategies, are best known and are considered more relevant than other bioeconomy industries. However, there is increasing potential for novel sectors, such as textiles and pharmaceuticals. The present research indicates that the opportunities presented by these bioeconomy sectors should be recognised and promoted. Education, research and innovation can play key roles in developing transformative and sustainable improvements in primary production and renewable resources. Furthermore, cooperation between businesses and educators is important.

Keywords: bioeconomy, circular economy, policy, strategy

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Authors: Haythem A. Nakkas, Philip J. Scott, Jim S. Briggs

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This paper reports a structured literature review of the application of Health Information Technology in developing countries, defined as the World Bank categories Low-income countries, Lower-middle-income, and Upper-middle-income countries. The aim was to identify and classify the various applications of health information technology to assess its current state in developing countries and explore potential areas of research. We offer specific analysis and application of HIT in Libya as one of the developing countries. Method: A structured literature review was conducted using the following online databases: IEEE, Science Direct, PubMed, and Google Scholar. Publication dates were set for 2000-2013. For the PubMed search, publications in English, French, and Arabic were specified. Using a content analysis approach, 159 papers were analyzed and a total number of 26 factors were identified that affect the adoption of health information technology. Results: Of the 2681 retrieved articles, 159 met the inclusion criteria which were carefully analyzed and classified. Conclusion: The implementation of health information technology across developing countries is varied. Whilst it was initially expected financial constraints would have severely limited health information technology implementation, some developing countries like India have nevertheless dominated the literature and taken the lead in conducting scientific research. Comparing the number of studies to the number of countries in each category, we found that Low-income countries and Lower-middle-income had more studies carried out than Upper-middle-income countries. However, whilst IT has been used in various sectors of the economy, the healthcare sector in developing countries is still failing to benefit fully from the potential advantages that IT can offer.

Keywords: developing countries, developed countries, factors, failure, health information technology, implementation, libya, success

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Authors: Nawreen Sobhan, Abeer Hassan, Dina Nziku

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There has been a dramatic rise in the percentage of female entrepreneurship in both developed and developing countries as it is now considering as an important source of economic growth. Therefore, there has been a growing research interest in female entrepreneurship as they represent an unrecognized engine for economic growth especially in transition economy. This study will determine the role of cultural influence on female entrepreneurship in the growth of economic development which will add new dimensions to the field of female entrepreneurial studies in informal sector of Bangladesh. A systematic literature review has been conducted on female entrepreneurship and cultural studies in both developed and developing country in this research study. There is lack of research on this field as most of the cultural studies on female entrepreneurship have been conducted globally and most of them are either comparative or based on single developed country. This study addresses this gap by using North’s institutional theory to investigate the influence of socio cultural factors on the development of businesses run by female entrepreneurs in Bangladesh. The study, therefore, has practical implications for policy makers and enhancing micro business performance by female entrepreneurs and contributes to the on-going theoretical understanding of cultural influence in female entrepreneurship in an Asian context.

Keywords: culture, socio cultural factors, female entrepreneurship, informal sectors, formal and informal institution and sustainable economic development

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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: Gatot Dwi Hendro, Hayyan ul Haq

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This work aims to explore the strategy in embodying the ecological validity in creating the sustainability of public policy, particularly in strengthening the green economy in Indonesia. This green economy plays an important role in supporting the national development in Indonesia, as it is a part of the national policy that posits the primary priority in Indonesian governance. The green economy refers to the national development covering strategic natural resources, such as mining, gold, oil, coal, forest, water, marine, and the other supporting infrastructure for products and distribution, such as fabrics, roads, bridges, and so forth. Thus, all activities in those national development should consider the sustainability. This sustainability requires the strong commitment of the national and regional government, as well as the local governments to put the ecology as the main requirement for issuing any policy, such as licence in mining production, and developing and building new production and supporting infrastructures for optimising the national resources. For that reason this work will focus on the strategy how to embody the ecological values and norms in the public policy. In detail, this work will offer the method, i.e. legal techniques, in visualising and embodying the norms and public policy that valid ecologically. This ecological validity is required in order to maintain and sustain our collective life.

Keywords: ecological validity, sustainable development, coherence, Indonesian Pancasila values, environment, marine

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Authors: R. Tirado, G. Habert, A. Mailhac, S. Laurenceau

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The rapid development of cities implies significant material inflows and outflows. The construction sector is one of the main consumers of raw materials and producers of waste. The waste from the building sector, for its quantity and potential for recovery, constitutes significant deposits requiring major efforts, by combining different actors, to achieve the circular economy's objectives. It is necessary to understand and know the current construction actors' knowledge of stocks, urban metabolism, deposits, and recovery practices in this context. This article aims to explore the role of local governments in planning strategies by facilitating a circular economy. In particular, the principal opportunities and challenges of communities for applying the principles of the circular economy in the building sector will be identified. The approach used for the study was to conduct semi-structured interviews with those responsible for circular economy projects within local administrations of some communities in France. The results show territories' involvement in the inclusion and application of the principles of the circular economy in the building sector. The main challenges encountered are numerous, hence the importance of having identified and described them so that the different actors can work to meet them.

Keywords: building stock, circular economy, interview, local authorities

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Authors: Muttamas Wongwanich, John R. Bryson, Catherine E. Harris

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Science parks are an essential component of localized innovation ecosystems. Science Parks have played a critical role in enhancing local innovation ecosystems in developed market economies. Attempts have been made to replicate best practice in other national contexts. To our best knowledge, the study about the development of Science Parks has not been undertaken on the economic impact on the developing countries. Further research is required to understand the adoption of Science Park policies in developing and emerging economies. This study explores the implementation of Science Park policy and its impacts on economic growth and development in Thailand, focusing on the relationship between universities and businesses. The Thailand context is essential. Thailand’s economy is dominated by agriculture and tourism. The Science Park policy is trying to develop an agriculturally orientated innovative ecosystem. Thailand established four Science Parks based on a policy that highlighted the importance of cooperation between government, HEIs, and businesses. These Science Parks are intended to increase small and medium enterprises’ (SMEs) innovativeness, employment, and regional economic growth by promoting collaboration and knowledge transfer between HEIs and the private sector. This study explores one regional Science Park in Thailand with an emphasis on understanding the implementation and operation of a triple helix innovation policy. The analysis explores the establishment of the Science Park and its impacts on firms and the regional economy through interviews with Science Parks directors, firms, academics, universities, and government officials. The analysis will inform Science Park policy development in Thailand to support the national objective to develop an innovation ecosystem based on the integration of technology with innovation policy, supporting technology-based SMEs in the creation of local jobs. The finding shows that the implementation of the Science Park policy in Thailand requires support and promotion from the government. The regional development plan must be related to the regional industry development strategy, considering the strengths and weaknesses of local entrepreneurs. The long time in granting a patent is the major obstacle in achieving the government’s aim in encouraging local economic activity. The regional Science Parks in Thailand are at the early stage of the operation plan. Thus, the impact on the regional economy cannot be measured and need further investigation in a more extended period. However, local businesses realize the vital of research and development (R&D). There have been more requests for funding support in doing R&D. Furthermore, there is the creation of linkages between businesses, HEIs, and government authorities as expected.

Keywords: developing country, emerging economy, regional development, science park, Thailand, triple helix

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Authors: Nantida Otakum

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The purpose of the study is to study the level of the application of sufficiency economy philosophy among the employees of Suan Sunandha Rajabhat University. This research also investigates the relationship between the application of sufficiency economy philosophy and work morale of the employees. The research methodology employed a self-administered questionnaire as a quantitative method. The respondents were employees who are working for Suan Sunandha Rajabhat University. Totally, 365 usable questionnaires were returned. Descriptive and inferential statistics were applied in data analysis. The results showed that the level of the application of sufficiency economy philosophy among the employees was at a good level. The results also indicated that the application of sufficiency economy philosophy was positively correlated with work morale of the employees of Suan Sunandha Rajabhat University.

Keywords: employees, Suan Sunandha Rajabhat University, sufficiency economy philosophy, work morale

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Authors: Vano Benidze, Ioseb Berikashvili

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Since 2003, Georgia has implemented many successful reforms, however, economic growth, poverty alleviation and unemployment reduction are still major challenges facing country’s economy. This is due to the fact that most reforms during the past 2 decades were mainly geared toward improving the institutional environment, while economy’s sectoral composition and industrial policy were largely ignored. Each individual sector plays its own specific role in the functioning of the whole economy that cannot be accomplished by any other sector. However, given the unavoidable reality that one sector uses intermediate inputs from other industries to produce its output and sells part of its output to other sectors, the importance of sectors should consider these sectoral interdependencies as well. Simply put, not all industries are equally useful for economic growth and development. In this context, the aim of this paper is to identify the key economic sectors of the Georgian economy. Leontief input-output analysis has been used in deriving backward and forwards linkages for all sectors in the Georgian economy for 2020 and 2021. Sectors with both high backward and forward linkages have been identified as key sectors of the economy. The results obtained are beneficial for the success of the economic and industrial policy of Georgia. If targeted properly by thoughtful policy intervention, key sectors identified in this paper will have a high potential of spreading growth impulses throughout the economy and will possibly generate higher economic growth.

Keywords: structural change, key sectors, development strategies, input-output analysis

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Authors: Abubakar Salisu Garba

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The objective of the paper is to highlight the nature of entrepreneurial activities in the Sub Sahara Africa. Five countries in the Sub Sahara African that are participating in Global Entrepreneurship Monitor (GEM) research have been studied to understand the types of entrepreneurial activities and their socio-economic implications in the region. The importance of entrepreneurial activities in boosting socio-economic development has been recognized not only in developing countries, but across the entire global economies. Some people believe that the wealth and poverty of developing countries is associated with nature and type of entrepreneurial activity. Policy makers are not only concern about the rate of business start up, but the growth and development of those starts up is of paramount importance to the development of the country’s economy. Although, the supply of entrepreneurs is essential, sometimes it does not really matters in boosting economic performance. What is more important is having high impact entrepreneurs who could make meaningful contribution to the economy. High growth oriented entrepreneurs are more stable and contribute greatly in enhancing the economic performance. When entrepreneurs are facing difficulties in sustaining and growing their businesses, it may be unlikely for entrepreneurship to reduce unemployment and poverty. Inadequate financial supports, insufficient infrastructure, lack of enforcing laws protecting the right of entrepreneurs are some of the problems making business environment difficult in Sub-Saharan Africa.

Keywords: entrepreneurship, entrepreneurial activity, job creation, poverty reduction, Sub-Saharan Africa

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Authors: Minttu Laukkanen, Janne Huiskonen

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This study investigates the sharing economy business models as examples of the sustainable business models. The aim is to contribute to the limited literature on sharing economy in connection with sustainable business models by explaining sharing economy business models value capturing. Specifically, this research answers the following question: How business model choices affect captured sustainable value? A multiple case study approach is applied in this study. Twenty different successful sharing economy business models focusing on consumer business and covering four main areas, accommodation, mobility, food, and consumer goods, are selected for analysis. The secondary data available on companies’ websites, previous research, reports, and other public documents are used. All twenty cases are analyzed through the sharing economy business model framework and sustainable value analysis framework using qualitative data analysis. This study represents general sharing economy business model value attributes and their specifications, i.e. sustainable value propositions for different stakeholders, and further explains the sustainability impacts of different sharing economy business models through captured and uncaptured value. In conclusion, this study represents how business model choices affect sustainable value capturing through eight business model attributes identified in this study. This paper contributes to the research on sustainable business models and sharing economy by examining how business model choices affect captured sustainable value. This study highlights the importance of careful business model and sustainability impacts analyses including the triple bottom line, multiple stakeholders and value captured and uncaptured perspectives as well as sustainability trade-offs. It is not self-evident that sharing economy business models advance sustainability, and business model choices does matter.

Keywords: sharing economy, sustainable business model innovation, sustainable value, value capturing

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Authors: Franklin Nakpodia, Femi Olan

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A blend of internal factors (firm performance, internal stakeholders) and external pressures (globalisation, technology, corporate scandals) have intensified calls for corporate governance reforms. While several countries and their governments have responded to these calls, the effect of such reforms on corporate governance systems across countries remains mixed. In particular, the literature reports that the effectiveness of corporate governance interventions in many developing economies is limited. Relying on the corporate governance system in Africa’s largest economy (Nigeria), this research addresses two issues. First, this study explores why previous corporate governance reforms have failed and second, the article investigates what reforms could improve corporate governance practices in the country. In addressing the above objectives, this study adopts a qualitative approach that permits data collection via semi-structured interviews with 21 corporate executives. The data supports the articulation of two sequential levels of reforms (i.e., the upstream and downstream reforms). The upstream reforms focus on two crucial but often overlooked areas that undermine reform effectiveness, i.e., the extent of government commitment and an enabling environment. The downstream reforms combine awareness and regulatory elements to proffer a path to robust corporate governance in the country. Furthermore, findings from this study stress the need to consider the use of a bottom-up approach to corporate governance practice and policymaking in place of the dominant top-down strategy.

Keywords: bottom-up approach, corporate governance, reforms, regulation

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Authors: Sevilay Konya, Sadife Güngör, Zeynep Karaçor

Abstract:

Turkish economy is occurred depending on different factors from time to time and the banking crises of different magnitudes. Foremost among the factors which hinder the development of countries and societies- crises in the country's economy. Countries' economic growth rates affect inflation, unemployment and external trade. In this study, effect of November 2000, February 2001 and 2008 banking crisis on Turkey's economy and banking crisis will be examined and announced as conceptual. In this context, this study is investigates Turkey's GDP, inflation, unemployment and foreign trade figures. Turkey's economy affected have been identified from 2000 November 2001 February and 2008 banking crisis.

Keywords: banking crises, Turkey’s economy, economic effects, Turkey

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Authors: Robin V. Cupido

Abstract:

Online dispute resolution has been identified in many countries as a viable alternative for resolving conflicts which have arisen in the so-called digital age. This system of dispute resolution is developing alongside the Internet, and as new types of transactions are made possible by our increased connectivity, new ways of resolving disputes must be explored. Developed nations, such as the United States of America and the European Union, have been involved in creating these online dispute resolution mechanisms from the outset, and currently have sophisticated systems in place to deal with conflicts arising in a number of different fields, such as e-commerce, domain name disputes, labour disputes and conflicts arising from family law. Specifically, in the field of e-commerce, the Internet’s borderless nature has served as a way to promote cross-border trade, and has created a global marketplace. Participation in this marketplace boosts a country’s economy, as new markets are now available, and consumers can transact from anywhere in the world. It would be especially advantageous for developing nations to be a part of this global marketplace, as it could stimulate much-needed investment in these nations, and encourage international co-operation and trade. However, for these types of transactions to proliferate, an effective system for resolving the inevitable disputes arising from such an increase in e-commerce is needed. Online dispute resolution scholarship and practice is flourishing in developed nations, and it is clear that the gap is widening between developed and developing nations in this regard. The potential for implementing online dispute resolution in developing countries has been discussed, but there are a number of obstacles that have thus far prevented its continued development. This paper aims to evaluate the various political, infrastructural and socio-economic challenges faced in developing nations, and to question how these have impacted the acceptance and development of online dispute resolution, scholarship and training of online dispute resolution practitioners and, ultimately, developing nations’ readiness to participate in cross-border e-commerce.

Keywords: developing countries, feasibility, online dispute resolution, progress

Procedia PDF Downloads 283