Search results for: informal economy

Authors: Farhad Reyazat, Richard Werner

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This paper contributes to the existent literature by developing a framework that explains how to monitor potential threats to banking sector stability. The study explores structural vulnerabilities at the country level, but also look at bilateral exposures within a network context. The study contributes in analysing of the European banking systemic risk at aggregated level, which integrates the characteristics of bank size, and interconnectedness relative to the size of the economy which ultimate risk belong to, taking to account the concentration ratio of the banking industry within the whole economy. The nature of the systemic risk depends on the interplay of the network topology with the nature of financial transactions over the network, assets and buffer stemming from bank size, correlations, and the nature of the shocks to the financial system. The study’s results illustrate the contribution of banks’ size, size of economy and concentration of counterparty exposures to a given country’s banks in explaining its systemic importance, how much the banking network depends on a few traditional hubs activities and the changes of this dependencies over the last 9 years. The role of few of traditional hubs such as Swiss banks and British Banks and also Irish banks- where the financial sector is fairly new and grew strongly between 1990s till 2008- take the fourth position on 2014 reducing the relative size since 2006 where they had the first position. In-degree concentration index analysis in the study shows concentration index of banking network was not changed since financial crisis 2007-8. In-degree concentration index on first quarter of 2014 indicates that US, UK and Germany together, getting over 70% of the network exposures. The result of comparing the in-degree concentration index with 2007-4Q, shows the same group having over 70% of the network exposure, however the UK getting more important role in the hub and the market share of US and Germany are slightly diminished.

Keywords: systemic risk, counterparty risk, financial stability, interconnectedness, banking concentration, european banks risk, network effect on systemic risk, concentration risk

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Authors: Ichiro Takahashi

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One conundrum that macroeconomic theory faces is to explain how an economy can revive from depression, in which the aggregate demand has fallen substantially below its productive capacity. This paper examines an autonomous stabilizing mechanism using an agent-based Wicksell-Keynes macroeconomic model. This paper focuses on the effects of the number of firms and the length of the gestation period for investment that are often assumed to be one in a mainstream macroeconomic model. The simulations found the virtual economy was highly unstable, or more precisely, collapsing when these parameters are fixed at one. This finding may even suggest us to question the legitimacy of these common assumptions. A perpetual decline in capital stock will eventually encourage investment if the capital stock is short-lived because an inactive investment will result in insufficient productive capacity. However, for an economy characterized by a roundabout production method, a gradual decline in productive capacity may not be able to fall below the aggregate demand that is also shrinking. Naturally, one would then ask if our economy cannot rely on an external stimulus such as population growth and technological progress to revive investment, what factors would provide such a buoyancy for stimulating investments? The current paper attempts to answer this question by employing the artificial macroeconomic model mentioned above. The baseline model has the following three features: (1) the multi-period gestation for investment, (2) a large number of heterogeneous firms, (3) demand-constrained firms. The instability is a consequence of the following dynamic interactions. (a) A multiple-period gestation period means that once a firm starts a new investment, it continues to invest over some subsequent periods. During these gestation periods, the excess demand created by the investing firm will spill over to ignite new investment of other firms that are supplying investment goods: the presence of multi-period gestation for investment provides a field for investment interactions. Conversely, the excess demand for investment goods tends to fade away before it develops into a full-fledged boom if the gestation period of investment is short. (b) A strong demand in the goods market tends to raise the price level, thereby lowering real wages. This reduction of real wages creates two opposing effects on the aggregate demand through the following two channels: (1) a reduction in the real labor income, and (2) an increase in the labor demand due to the principle of equality between the marginal labor productivity and real wage (referred as the Walrasian labor demand). If there is only a single firm, a lower real wage will increase its Walrasian labor demand, thereby an actual labor demand tends to be determined by the derived labor demand. Thus, the second positive effect would not work effectively. In contrast, for an economy with a large number of firms, Walrasian firms will increase employment. This interaction among heterogeneous firms is a key for stability. A single firm cannot expect the benefit of such an increased aggregate demand from other firms.

Keywords: agent-based macroeconomic model, business cycle, demand constraint, gestation period, representative agent model, stability

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Authors: Ritu Ahuja

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Globally the built environment sector is striving to be highly efficient, quality-centred and socially-responsible. Built environment sector is an integral part of the economy and plays an important role in urbanization, industrialization and improved quality of living. The inherent challenges such as excessive material and process waste, over reliance on resources, energy usage, and carbon footprint need to be addressed in order to meet the needs of the economy. It is envisioned that these challenges can be resolved by integration of Lean-Green-Building Information Modelling (BIM) paradigms. Ipso facto, with BIM as a catalyst, this research identifies the operational and tactical connections of lean and green philosophies by providing a conceptual integration framework and underpinning theories. The research has developed a framework for BIM-based organizational capabilities for enhanced adoption and effective use of BIM within architectural organizations. The study was conducted through a sequential mixed method approach focusing on collecting and analyzing both qualitative and quantitative data. The framework developed as part of this study will enable architectural organizations to successfully embrace BIM on projects and gain lean and green benefits.

Keywords: BIM, lean, green, AEC organizations

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Authors: Fawaz Saad, Hamid Alalwany

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Sweden has succeeded to maintain a high level of growth and development and has managed to sustain highly ranked position among the world’s developed countries. In this regard, Swedish universities are playing a vital role in supporting innovation and entrepreneurship at all levels and developing Swedish knowledge economy. This paper is aiming to draw on the experiences of two leading Swedish universities, addressing their transformation approach to create entrepreneurial universities and fulfilling their objectives in the era of knowledge economy. The objectives of the paper include: (1) Introducing the Swedish higher education and its characteristics. (2) Examining the infrastructure elements for innovation and Entrepreneurship at two of the Swedish entrepre-neurial universities. (3) Addressing the key aspects of support systems in the initiatives of both Chalmers and Gothenburg universities to support innovation and advance entrepreneurial practices. The paper will contribute to two discourses: (1) Examining the relationship between support systems for innovation and entrepreneurship and the Universities’ policies and practices. (2) Lessons for University leaders to assist the development and implementation of effective innovation and en-trepreneurship policies and practices.

Keywords: Entrepreneurial University, Chalmers University, Gothenburg University, innovation and entrepreneurship policies, entrepreneurial transformation

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Authors: Noemia Bessa Vilela, Jose Caramelo Gomes

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All law student are familiarized, in the first years of their bachelor of laws with the concepts of “public goods” and “ private goods”; often, such legal concept does not exactly match such economic concept, and there are consequences are some sort of confusion being created. The list of goods that follow under each category is not exhaustive, nor are students given proper mechanisms to acknowledge that some legal fields can, on its own, be considered as a “public good”; this is the case of Competition. Legal authors consider that “competition law is used to promote public interest” and, as such, it is a “public good”; in economics theory, Competition is the first public good in a market economy, as the enabler of allocation efficiency. Competition law is the legal tool to support the proper functioning of the market economy and democracy itself. It is fact that Competition Law only applies to economic activities, still, competition is object of private litigation as an integral part of Public Law. Still, regardless of the importance of Competition Law in the economic activity and market regulation, most student complete their studies in law, join the Bar Associations and engage in their professional activities never having been given sufficient tools to deal with the increasing demands of a globalized world. The lack of knowledge of economics, market functioning and the mechanisms at their reach in order to ensure proper realization of their duties as lawyers/ attorneys-at-law would be tackled if Competition Law would be included as part of the curricula of Law Schools. Proper teaching of Competition Law would combine the foundations of Competition Law, doctrine, case solving and Case Law study. Students should to understand and apply the analytical model. Special emphasis should be given to EU Competition Law, namely the TFEU Articles 101 to 106. Damages Directive should also be part of the curriculum. Students must in the first place acquire and master the economic rationale as competition and the world of competition law are the cornerstone of sound and efficient market. The teaching of Competition Law in undergraduate programs in Law would contribute to fulfill the potential of the students who will deal with matters related to consumer protection, economic and commercial law issues both in private practice and as in-house lawyers for companies.

Keywords: higher education, competition law, legal education, law, market economy, industrial economics

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Authors: Mustapha Shitu Suleiman, Francis Neshamba, Nestor Valero-Silva

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Small businesses are considered as engine of economic growth, contributing to employment generation, wealth creation, and poverty alleviation and food security in both developed and developing countries. Nigeria is facing many socio-economic problems and it is believed that by supporting small business development, as propellers of new ideas and more effective users of resources, often driven by individual creativity and innovation, Nigeria would be able to address some of its economic and social challenges, such as unemployment and economic diversification. Using secondary literature, this paper examines the role small businesses can play in the creation of jobs in North-West Nigeria to overcome issues of unemployment, which is the most devastating economic challenge facing the region. Most studies in this area have focused on Nigeria as a whole and only a few studies provide a regional focus, hence, this study will contribute to knowledge by filling this gap by concentrating on North-West Nigeria. It is hoped that with the present administration’s determination to improve the economy, small businesses would be used as vehicles for diversification of the economy away from crude oil to create jobs that would lead to a reduction in the country’s high unemployment level.

Keywords: job creation, north-west, Nigeria, small business, unemployment

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Authors: Amina Oukennou, Zitouni Beidouri, Otmane Bouksour

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Small to Medium-sized enterprises are a very important component of the economy. They are present in the whole industries all over the world. They are considered as the engine for future growth in the economy. Project management is an economical international factor impacting all types of enterprises including the SMEs. This paper has the aim of measuring the weight of using projects and project management in Moroccan SMEs in comparison with the large companies. The study is based on interviews with experts: project managers, managers, directors, and consultants. They were asked questions measuring the weight of using projects, the level of using project management, and the resources employed. Eighteen Moroccan companies from a range of industries and sizes were consulted. All the companies consider projects as a key element in their strategy. Most of them affirm the great usefulness of the approach 'project', especially for the external activities. The main differences lie in the duration and the size of used projects. Despite the commonly shared idea about the importance of the project management, the interviewed persons believe that the project management knowledge has the same importance or less than the technical knowledge. All the companies affirm the need for a simpler version of project management. The content varies from one company to another.

Keywords: project dimension, project management, small to medium-sized entreprise, Morocco

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Authors: Dishant Shahi, Aradhya Shandilya, Nand Kumar

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We study here the impact of the black component referred to as X component in the text on Real estate transactions. The X component involved not only acts as friction in transaction but also leads to dysfunctionality in the capital market of real estate. The effect of the component is presented by using a model of economy which seeks resemblance with that of India involving property deals. The rigidities which hinder smooth transactions in property or land deals are depicted and their impact on the economy as a whole has been modelled. The effect of subprime crisis (2007) on Indian housing capital market and the role which the X component played during it, is also included in one of the sections. In the entire text, we have utilised 4 Quadrant graphs to study supply and demand causalities involved in commercial real estate. At the end we have included the impact of demonetisation as a move to counter the problem of overvaluation in the property assets arising due to the X component. The case of Demonetisation which has been the latest move by the Indian Government to control huge amount of black money in circulation has been included along with its impact on the housing and rent as well as the capital market.

Keywords: X-component, 4Q graph, real estate, capital markets, demonetisation, consumer sentiments

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Authors: Juliet Sorensen, Anna Maitland

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Introduction: Characterized by lack of water and sanitation, food insecurity, and low access to hospitals and clinics, informal urban settlements in Lagos, Nigeria have very poor health outcomes. With little education and a general inability to demand basic rights, these communities are often disempowered and isolated from understanding, claiming, or owning their health needs. Utilizing community-based participatory research characterized by interdisciplinary, cross-cultural partnerships, evidence-based assessments, and both primary and secondary source research, a holistic health education and advocacy program was developed in Lagos to address health barriers for targeted communities. This includes a first of its kind guide formulated to teach community-based health educators how to transmit health information to low-literacy Nigerian audiences while supporting behavior change models and social support mechanisms. This paper discusses the interdisciplinary contributions to developing a health education program while also looking at the need for greater beneficiary ownership and implementation of health justice and access. Methods: In March 2016, an interdisciplinary group of medical, legal, and business graduate students and faculty from Northwestern University conduced a Health Needs Assessment (HNA) in Lagos with a partner and a local non-governmental organization. The HNA revealed that members of informal urban communities in Lagos were lacking basic health literacy, but desired to remedy this lacuna. Further, the HNA revealed that even where the government mandates specific services, many vulnerable populations are unable to access these services. The HNA concluded that a program focused on education, advocacy, and organizing around anatomy, maternal and sexual health, infectious disease and malaria, HIV/AIDS, emergency care, and water and sanitation would respond to stated needs while also building capacity in communities to address health barriers. Results: Based on the HNA, including both primary and secondary source research on integrated health education approaches and behavior change models and responsive, adaptive material development, a holistic program was developed for the Lagos partners and first implemented in November 2016. This program trained community-nominated health educators in adult, low-literacy, knowledge exchange approaches, utilizing information identified by communities as a priority. After a second training in March 2017, these educators will teach community-based groups and will support and facilitate behavior change models and peer-support methods around basic issues like hand washing and disease transmission. They will be supported by community paralegals who will help ensure that newly trained community groups can act on education around access, such as receiving free vaccinations, maternal health care, and HIV/AIDS medicines. Materials will continue to be updated as needs and issues arise, with a focus on identifying best practices around health improvements that can be shared across these partner communities. Conclusion: These materials are the first of their kind, and address a void of health information and understanding pervasive in informal-urban Lagos communities. Initial feedback indicates high levels of commitment and interest, as well as investment by communities in these materials, largely because they are responsive, targeted, and build community capacity. This methodology is an important step in dignity-based health justice solutions, albeit in the process of refinement.

Keywords: community health educators, interdisciplinary and cross cultural partnerships, health justice and access, Nigeria

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Authors: Diogo Santos, Nelson Zagalo, Carla Morais

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No Man’s Sky (NMS) is a sci-fi video game about survival and exploration where players fly spaceships, search for elements, and use them to survive. NMS isn’t a serious game, and not all the science in the game is presented with scientific evidence. To find how players felt about the scientific content in the game and how they perceive the chemistry in it, a survey was sent to NMS’s players, from which were collected answers from 124 respondents from 23 countries. Chemophobia is still a phenomenon when chemistry or chemicals are a subject of discussion, but 68,9% of our respondents showed a positive attitude towards the presence of chemistry in NMS, with 57% stating that playing the video game motivated them to know more about science. 8% of the players stated that NMS often prompted conversations about the science in the video game between them and teachers, parents, or friends. These results give us ideas on how an entertainment game can potentially help scientists, educators, and science communicators reach a growing, evolving, vibrant, diverse, and demanding audience.

Keywords: digital games, science communication, chemistry, informal learning, No Man’s Sky

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Authors: Adebayo J. Julius, Oluremi N. Iluyomade

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Livelihood in Nigeria is a paradox of poverty amidst plenty. The Country is endowed with a good climate for agriculture, naturally growing fruit trees and vegetables, and undomesticated water resources. In spite of all its endowment, Nigeria continues to live in poverty year in year out. Rural communities adopted for this study are Ido, Omi-Adio, Onigambari, Okija and Lambata, 500 questionnaires were administered to solicit information from the respondents. This study focused on comparative analysis of the utilization of community informatics for sustainable livelihoods through agriculture. The idea projected in this study is that small strategic changes in the modus operandi of social informatics can have a significant impact on the sustainability of livelihoods. This paper carefully explored the theories of community informatics and its efficacies in dealing with sustainability issues. This study identified, described and evaluates the roles of community informatics in some sectors of the economy, different analytical tools to benchmark the influence of social informatics in agriculture against what is obtainable in agricultural sectors of the economy were used. It further employed comparative analysis to build a case model for sustainable livelihood in agriculture through community informatics.

Keywords: informatics, model, rural community, livelihood, Nigeria

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Authors: Daniel Stabler, Anne-Laure Mention, Henri Hakala, Ahmad Alaassar

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In Europe, 2.2 billion tons of waste annually generate severe environmental damage and economic burdens, and negatively impact human health. A stark illustration of the problem is found within the consumer electronics industry, which reflects one of the most complex global waste streams. Of the 5.3 billion globally discarded mobile phones in 2022, only 17% were properly recycled. To address these pressing issues, Europe has made significant strides in developing waste management strategies, Circular Economy initiatives, and Right to Repair policies. These endeavors aim to make product repair and maintenance more accessible, extend product lifespans, reduce waste, and promote sustainable resource use. European countries have introduced Right to Repair policies, often in conjunction with extended producer responsibility legislation, repair subsidies, and consumer repair indices, to varying degrees of regulatory rigor. Changing societal trends emphasizing sustainability and environmental responsibility have driven consumer demand for more sustainable and repairable products, benefiting repair-focused consumer electronics businesses. In academic research, much of the literature in Management studies has examined the European Circular Economy and the Right to Repair from firm-level perspectives. These studies frequently employ a business-model lens, emphasizing innovation and strategy frameworks. However, this study takes an institutional perspective, aiming to understand the adoption of Circular Economy and repair-focused business models within the European consumer electronics market. The concepts of the Circular Economy and the Right to Repair align with institutionalism as they reflect evolving societal norms favoring sustainability and consumer empowerment. Regulatory institutions play a pivotal role in shaping and enforcing these concepts through legislation, influencing the behavior of businesses and individuals. Compliance and enforcement mechanisms are essential for their success, compelling actors to adopt sustainable practices and consider product life extension. Over time, these mechanisms create a path for more sustainable choices, underscoring the influence of institutions and societal values on behavior and decision-making. Institutionalism, particularly 'neo-institutionalism,' provides valuable insights into the factors driving the adoption of Circular and repair-focused business models. Neo-institutional pressures can manifest through coercive regulatory initiatives or normative standards shaped by socio-cultural trends. The Right to Repair movement has emerged as a prominent and influential idea within academic discourse and sustainable development initiatives. Therefore, understanding how macro-level societal shifts toward the Circular Economy and the Right to Repair trigger firm-level responses is imperative. This study aims to answer a crucial question about the impact of European Right to Repair initiatives had on the financial and environmental performance of European consumer electronics companies at the firm level. A quantitative and statistical research design will be employed. The study will encompass an extensive sample of consumer electronics firms in Northern and Western Europe, analyzing their financial and environmental performance in relation to the implementation of Right to Repair mechanisms. The study's findings are expected to provide valuable insights into the broader implications of the Right to Repair and Circular Economy initiatives on the European consumer electronics industry.

Keywords: circular economy, right to repair, institutionalism, environmental management, european union

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Authors: Lasha Kamashidze

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COVID19 has already become one of the biggest challenges in the modern world. The virus has also had a significant impact on the world economy, which has faced a major crisis. Each crisis and challenge creates new opportunities. Changes in the world have allowed us to see business in a new light. The aim of the article is to explore new opportunities in the business that have arisen as a result of the Corona virus. Now, organizations with a service profile are working to meet the rapidly changing needs of their staff and customers. Due to the situation created by the pandemic, it became necessary to make some changes in people's daily lives. It became necessary to adapt to the new reality. The changes caused by Coronavirus require in-depth research and analysis in the world economy, as the current situation is not ruled out to be repeated in the future. Many companies have resorted to remote work methods, which require organizational changes. The form of remote work is not new to the Georgian reality. In Georgia, as well as in the rest of the world, the business sector has undergone changes. It will be beneficial for many Georgian companies to make organizational changes that will allow them to work remotely. The current situation has shown the managers of both Georgian and other companies to have "weak points" in organizing modern business. A survey was conducted (online survey), as a result of which it received important information about the problems of remote work in Georgia.

Keywords: organizational change, coronomics, remote work, management

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Authors: Obaid Alotaibi

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Tourism and recreation have become one of the important and influential sectors in most of the modern economies. This sector has been accepted as one of the alternative sources of national income, employment, and foreign exchange. Kuwait has many potentialities in tourism and recreation, and exploitation of this leads to more diversification of the economy besides augmenting its contribution to the GDP. It is an import-oriented economy; it requires hard currencies (foreign exchange) to meet the import costs as well as to maintain stability in the international market. To compensate for the revenue fall stemmed from fluctuations in oil prices -where the agriculture, fisheries, and industrial sectors are too immune and inelastic- the only alternative solution is the regeneration of the tourism and recreation to surface. This study envisages the characteristics of tourism and recreation, the economic and social importance for the society, the physical and human endowments, as well as the tourist pattern and plans for promoting and sustaining tourism in the country. The study summarizes many recommendations, including the necessity of establishing authority or a council for tourism, linking the planning of tourism development with the comprehensive planning for economic and social development in Kuwait in the shadow of 2035 vision, and to encourage the investors to develop new tourist and recreation projects.

Keywords: Kuwait, public-private, partnership, tourism, 2035 vision

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Authors: Mustofa Mahmud Al Mamun

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Government spending, one of the major components of gross domestic product (GDP), is composed of government consumption, investment, and transfer payments. A change in government spending during recessionary periods can generate an increase in GDP greater than the increase in spending. This is called the "multiplier effect". Accurate estimation of government spending multiplier is important because fiscal policy has been used to stimulate a flagging economy. Many recent studies have focused on identifying parts of the economy that responds more to a stimulus under a variety of circumstances. This paper used the US dataset from 1966 to 2020 and local projection method assuming standard identification strategy to estimate the multipliers. The model includes important macroaggregates and controls for forecasted government spending, interest rate, consumer price index (CPI), export, import, and level of public debt. Investment multipliers are found to be positive and larger than the consumption multipliers. Consumption multipliers are either negative or not significantly different than zero. Results do not vary across the business cycle. However, the consumption multiplier estimated from pre-1980 data is positive.

Keywords: business cycle, consumption multipliers, forecasted government spending, investment multipliers, local projection method, zero lower bound

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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: Muhammad Naveed Babur, Maria Liaqat

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Background & Objective: People with disabilities especially neurological disabilities have many unmet health and rehabilitation needs, face barriers in accessing mainstream health-care services, and consequently have poor health. There are not sufficient epidemiological studies from Pakistan which assess barriers to neurorehabilitation and ways to counter it. Objectives: The objective of the study was to determine the challenges and to evaluate the barriers for neuro-rehabilitation services in developing countries. Methods: This is Exploratory sequential qualitative study based on the Panel discussion forum in International rehabilitation sciences congress and national rehabilitation conference 2017. Panel group discussion has been conducted in February 2017 with a sample size of eight professionals including Rehabilitation medicine Physician, Physical Therapist, Speech Language therapist, Occupational Therapist, Clinical Psychologist and rehabilitation nurse working in multidisciplinary/Interdisciplinary team. A comprehensive audio-videography have been developed, recorded, transcripted and documented. Data was transcribed and thematic analysis along with characteristics was drawn manually. Data verification was done with the help of two separate coders. Results: After extraction of two separate coders following results are emerged. General category themes are disease profile, demographic profile, training and education, research, barriers, governance, global funding, informal care, resources and cultural beliefs and public awareness. Barriers identified at the level are high cost, stigma, lengthy course of recovery. Hospital related barriers are lack of social support and individually tailored goal setting processes. Organizational barriers identified are lack of basic diagnostic facilities, lack of funding and human resources. Recommendations given by panelists were investment in education, capacity building, infrastructure, governance support, strategies to promote communication and realistic goals. Conclusion: It is concluded that neurorehabilitation in developing countries need attention in following categories i.e. disease profile, demographic profile, training and education, research, barriers, governance, global funding, informal care, resources and cultural beliefs and public awareness. This study also revealed barriers at the level of patient, hospital, organization. Recommendations were also given by panelists.

Keywords: disability, neurorehabilitation, telerehabilitation, disability

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Authors: Sonal Purohit, Animesh Dubey

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Corporate governance deals with the entire network of formal and informal relationship with the management of the company and company’s stakeholders including employees, customers, creditors, local communities, and society in general. The recent financial crisis was truly a global crisis in its nature and effects. The Indian financial markets were not immune to this global financial crisis. It is believed that corporate governance also had a major role to play in staggering the effect of this crisis. The objective of this paper is to examine the failure of prevailing corporate governance practice in India during financial crisis. Lack of appropriate implementation of the corporate government norms was a reason behind the phenomenon of money being pulled-out by FIIs, which constitute major investors and influencers of the Indian financial market.

Keywords: corporate governance, FII, financial market, financial crisis

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Authors: Shafiqul Islam, Cordia Chu

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Bangladesh contributes little to global climate change, yet it is one of the countries most vulnerable to climate change. Based on semi-structured in-depth interviews and literature review, focusing public spending distribution process, this paper demonstrates how the processes of political economy- enclosure, exclusion, encroachment, and entrenchment hinder the Climate Change Adaptation (CCA) efforts of Bangladesh Climate Change Trust Fund (BCCTF). Enclosure refers to when CCA projects allocated to less vulnerable areas or expand the roles of influencing actors into the public sphere. Exclusion refers to when CCA projects limit affected people's access to resources or marginalize particular stakeholders in decision-making activities. Encroachment refers to when allocation of CCA projects and selection of location and issues degrade the environmental affect or contribute to other forms of disaster risk. Entrenchment refers to when CCA projects aggravate the disempowerment of common people worsen the concentrations of wealth and income inequality within a community. In the case of Bangladesh, climate change policies implemented under the country’s National Adaptation Program of Action (NAPA) and Bangladesh Climate Change Strategic Action Plan (BCCSAP) have somehow enabled influential-elites to mobilize and distribute resources through bureaucracies. Exclusionary forms of fund distribution of CCA exist at both the national and local scales. CCA related allocations have encroached through the low land areas development project without consulting local needs. Most severely, CCA related unequal allocations have entrenched social class trapping the backward communities vulnerable to climate related disasters. Planners and practitioners of BCCTF need to take necessary steps to eliminate the potential risks from the processes of enclosure, exclusion, encroachment, and entrenchment happens in project fund allocations.

Keywords: Bangladesh, climate change adaptation, political economy, public fund distribution

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Authors: Mark Ivan Roblas

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The Science Explorer is a mobile learning science facility in the Philippines. It is a bus that travels to different provinces in the country bringing interactive science modules facilitated by scientists from the industry and academe. The project aims to entice students to get into careers in science through interactive science modules and interaction with real-life scientists. This article looks into the effectiveness of its modules as a communication source and message to encourage high school students to get into careers in the future. The study revealed that as the Science Explorer modules are able to retain students to stay in science careers of their choice and even convert some to choose from non-science to a science degree, it still lacks in penetrating the belief system of the students and influencing them to take a scientific career path.

Keywords: informal science, mobile science, science careers, science education

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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: Anirudha S. Joshi

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The 21st century classroom is filled with a vibrant assortment of learners. In India the different socio-economic background with culturally diversified experiences need the English teacher of the teenage group to be more dynamic, innovative and competent. The boycott of conventional ways of teaching and the warm reception of modern approaches give place to the modern devices like Television. Instead of calling it an idiot? box why not a dynamic teacher utilize it for the purpose of developing the skills among the students? The teacher applies various strategies for the learners. One of them is selecting a particular popular T.V. program in the national language ‘Hindi’ and motivating the constructivist students to take part in the activities based on it. This bilingual method enables them to develop the speaking, writing and conversational skills in English in a very natural, informal and enthusiastic way.

Keywords: bilingual method, modern approaches, natural way, TV program

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Authors: Gideon Nyuimbe Gasu

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Sub Saharan Africa is at a critical point, experiencing rapid population growth, particularly in urban areas and young growing force. At the same time, the growing risk of catastrophic global climate change threatens to weaken food production system, increase intensity and frequency of drought, flood, and fires and undermine gains on development and poverty reduction. Although the region has the lowest per capital greenhouse gas emission level in the world, it will need to join global efforts to address climate change, including action to avoid significant increases and to encourage a green economy. Thus, there is a need for the concept of 'greening the economy' as was prescribed at Rio Summit of 1992. Renewable energy is one of the criterions to achieve this laudable goal of maintaining a green economy. There is need to address climate change while facilitating continued economic growth and social progress as energy today is critical to economic growth. Fossil fuels remain the major contributor of greenhouse gas emission. Thus, cleaner technologies such as carbon capture storage, renewable energy have emerged to be commercially competitive. This paper sets out to examine how to achieve a low carbon economy with minimal emission of carbon dioxide and other greenhouse gases which is one of the outcomes of implementing a green economy. Also, the paper examines the different renewable energy sources such as nuclear, wind, hydro, biofuel, and solar voltaic as a panacea to the looming climate change menace. Finally, the paper assesses the different renewable energy and energy efficiency as a propeller to generating new sources of income and jobs and in turn reduces carbon emission. The research shall engage qualitative, evaluative and comparative methods. The research will employ both primary and secondary sources of information. The primary sources of information shall be drawn from the sub Saharan African region and the global environmental organizations, energy legislation, policies and related industries and the judicial processes. The secondary sources will be made up of some books, journal articles, commentaries, discussions, observations, explanations, expositions, suggestions, prescriptions and other material sourced from the internet on renewable energy as a panacea to climate change. All information obtained from these sources will be subject to content analysis. The research result will show that the entire planet is warming as a result of the activities of mankind which is clear evidence that the current development is fundamentally unsustainable. Equally, the study will reveal that a low carbon development pathway in the sub Saharan African region should be embraced to minimize emission of greenhouse gases such as using renewable energy rather than coal, oil, and gas. The study concludes that until adequate strategies are devised towards the use of renewable energy the region will continue to add and worsen the current climate change menace and other adverse environmental conditions.

Keywords: carbon dioxide, climate change, legislation/law, renewable energy

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Authors: Khandoker Upama Kabir, Mohammad Fuhad Anwar Sinha

Abstract:

Dhaka, the capital of Bangladesh, is known not only for its fast growing economy, lively atmosphere, rich history, and culture but is also known for having a reputation of being a vastly populated city. The historic city centre of Dhaka (currently known as Puran Dhaka or Old Dhaka) which was conceived around the Pre-Mughal era and holds a lot of history and heritage of the region. This historic site has further been neglected, and most of the urban development has been done without integrating this part of the city into the plans. As a result, the festivals that take place traditionally throughout the year in this area create a greater impact on the urban fabric of the whole city. These festivals generate a huge amount of visitors and play a huge role in shaping the identity of the people. This paper will attempt to look at the importance of these traditions, the way these festivals are influencing the urban life of the community, and whether or not it has any significant effect on the economy. Through the use of both primary and secondary sources and SWOT analysis, this paper will attempt to identify the issues faced during these festivals. This paper will also try to suggest some basic remedies based on general comparisons between case studies of similar festivals celebrated globally and how these countries are dealing with such issues while also promoting tourism.

Keywords: urban fabric, festivals, cultural celebration, impact, historic city centre urban memory, mega events

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Authors: Abdelli Soulaima, Belhadj Besma

Abstract:

The paper examines the choice of the central bank toward the movements of the nominal exchange rate and evaluates its effects on the volatility of the output growth and the inflation. The novel hybrid method of the dynamic stochastic general equilibrium called the DSGE-VAR is proposed for analyzing this policy experiment in a small scale open economy in particular Tunisia. The contribution is provided to the empirical literature as we apply the Tunisian data with this model, which is rarely used in this context. Note additionally that the issue of treating the degree of response of the central bank to the exchange rate in Tunisia is special. To ameliorate the estimation, the Bayesian technique is carried out for the sample 1980:q1 to 2011 q4. Our results reveal that the central bank should not react or softly react to the exchange rate. The variance decomposition displayed that the overall inflation volatility is more pronounced with the fixed exchange rate regime for most of the shocks except for the productivity and the interest rate. The output volatility is also higher with this regime with the majority of the shocks exempting the foreign interest rate and the interest rate shocks.

Keywords: DSGE-VAR modeling, exchange rate, monetary policy, Bayesian estimation

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Authors: Wei Wang, Yilun Xu

Abstract:

With the development of knowledge economy era, deepening the mechanism of cooperation and adhering to sharing and win-win cooperation has become new direction of urban development nowadays. In recent years, innovative collaborations between cities are becoming more and more frequent, whose influence on urban network space has aroused many scholars' attention. Taking 46 cities in China as the research object, the paper builds the connectivity of innovative network between cities and the linkages of urban external innovation using patent cooperation data among cities, and explores urban network space in China by the application of GIS, which is a beneficial exploration to the study of social network space in China in the era of information network. The result shows that the urban innovative network space and geographical entity space exist differences, and the linkages of external innovation are not entirely related to the city innovative capacity and the level of economy development. However, urban innovative network space and geographical entity space are similar in hierarchical clustering. They have both formed Beijing-Tianjin-Hebei, Yangtze River Delta, Pearl River Delta three metropolitan areas and Beijing-Shenzhen-Shanghai-Hangzhou four core cities, which lead the development of innovative network space in China.

Keywords: innovative collaboration, urban network space, the connectivity of innovative network, the linkages of external innovation

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Authors: Tae Ho Kim

Abstract:

Using the center of gravity method, we intend to find the center of gravity of Eurasia and North America, focusing on the local population, and study economic development plans in Eurasia and North America. By analyzing the strengths and opportunities of an industrial location for each region, we find ways for the country to grow and develop. Through economic cooperation and support between countries, we want to reduce the cause of conflict and dispute through economic growth in countries or regions. Furthermore, we want to create conditions for peaceful and happy regions or countries. Eurasia and North America are rich in resources, have great growth potential in terms of global supply chains, and have a good position to develop further. By analyzing intimacy between countries using REM, a CRM method, we intend to transform it into a region where a hopeful future of peace and prosperity begins. The future can be transformed through positive thinking or love for humanity. Indicators of intimacy between countries or regions can also be created anew if they change how they view each other. The Earth we live on is facing great risks, such as climate change and war. In order to reduce this crisis and maintain peace and prosperity, we must cooperate with each other in new directions.

Keywords: supply chain economy, REM, Indicators of intimacy, peace and prosperity

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Authors: Robert Saputra, Tomas Havlicek

Abstract:

This study discusses the design of collaborative rural governance strategies to enhance the rural economy through Village-owned Enterprises (VOE) in Riau Province, Indonesia. Using Soft Systems Methodology (SSM) combined with Textual Network Analysis (TNA) in the Rich Picture stage of SSM, we investigated the current state of VOE management. Significant obstacles identified include insufficient business feasibility analyses, lack of managerial skills, misalignment between strategy and practice, and inadequate oversight. To address these challenges, we propose a collaborative strategy involving regional governments, academic institutions, NGOs, and the private sector. This strategy emphasizes community needs assessments, efficient resource mobilization, and targeted training programs. A dedicated working group will ensure continuous monitoring and iterative improvements. Our research highlights the novel integration of SSM with TNA, providing a robust framework for improving VOE management and demonstrating the potential of collaborative efforts in driving rural economic development.

Keywords: village-owned enterprises (VOE), rural economic development, soft system methodology (SSM), textual network analysis (TNA), collaborative governance

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Authors: Agi Sunday

Abstract:

A descriptive analysis of reported cases of sickle cell disease and the level of awareness about genetic counselling in 30 hospitals were carried out. Additionally, 150 individuals between ages 16-45 were randomly selected for evaluation of genetic counselling awareness. The main tools for this study were questionnaires which were taken to hospitals, and individuals completed the others. The numbers of reported cases of sickle cell disease recorded in private, public and teaching hospitals were 14 and 57; 143 and 89; 272 and 57 for the periods of 1995-2000 and 2001-2005, respectively. A general informal genetic counselling took place mostly in the hospitals visited. 122 (86%) individuals had the knowledge of genetic disease and only 43 (30.3%) individuals have been exposed to genetic counselling. 64% of individuals agreed that genetic counselling would help in the prevention of genetic disease.

Keywords: sickle disease, genetic counseling, genetic testing, advocacy

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Authors: Shazia Shinwari

Abstract:

In the 21st century, South Asia is becoming one of the rising sub-regions of the world. In the whole of Asia, South Asia is going to be the center part of opportunities, development, and challenges. The increasing economy and its geopolitical importance are changing the landscape of South Asia. Despite intensifying the opportunities and development, the region is also facing the challenges of security, poverty, and conflicts. It is one of the most populated sub-regions and has many internal conflicts because of which the region remains for a long time a least developed region in the world. But now South Asia is transforming into the developing process and trying to utilize its potentials and to remove the hurdles in the way of development. South Asia is one of the distinctive regions of the world and could play an important role at the global level if the potentials of the region are properly utilized. South Asia is one of the most important regions of the world and assumed more importance after the British withdrawal from the region. Now South Asia is playing an important role in world politics due to its strategic and geographical location. That is why the importance of this region in the international political systems cannot be ignored. Day by day, changes have been taking place in the structure of the global economy, and South Asia could take advantage of these changes to advance as an economic region. For this, South Asia will need to look at its history, and that changes, particularly in the India and Pakistan relations, are necessary for the development of the South Asian region. Despite having challenges in the region, South Asia is also rising as the land of opportunities and development if the potentials of the region are properly utilized and smoothen the way for regional integration.

Keywords: challenges, development, opportunities, South Asia

Procedia PDF Downloads 188