Search results for: Developing Countries

Authors: Minjeoung Kim

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Since women obtained the right to vote in 1893 for the first time in New Zealand, they have tried to participate actively into politics but still the world has a few women in political leadership. The article asks which factors might influence the appearance of women leadership in politics. The article investigates two factors such as political context, personal factors. Countries where economic development is stable and political democracy is consolidated have a tendency of appearance of women political leadership but in less developed and politically unstable countries, women politicians can be in power with their own reasons. For the personal factor, their feminist propensity is studied but there is no relationship between the appearance of women leaders and their feminist propensity.

Keywords: women political leadership, political context, slow track, transitory countries, feminist propensity

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Authors: Moleseng Claude Moshobane

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Alien species cause considerable negative impacts on biodiversity, economy and public health. Impacts of alien species on public health have received a degree of attention worldwide, largely in developed countries, but scarce in developing countries. Here, we provide a review of human exposures and poisonings cases from native and alien plant species reported to poison information centers. A retrospective review of the Tygerberg Poison Information Centre (TPIC) and Poisons Information Centre (PIC) at Red Cross War Memorial Children's Hospital (RCWMCH) was conducted over approximately 2-year period (1 June 2015 through to 06 March 2017). Combined, TPIC and PIC handled 626 cases during the 2-year period. Toxicity cases were more abundant in Gauteng (47.1%), followed by Western Cape (29.4%). The primary mechanism of injury was ingestion (96.7%), and all cases were predominantly accidental. Most reported cases involved infants (20.6%), with few fully-grown adults related cases (5.8%). Adults presented minor to moderate toxicity, while infants none to minor toxicity. We conclude that reported toxicity cases on human health are biased towards few alien species and that several cases relate to unknown species of mushrooms. Public awareness is essential to reducing the poisoning incidences.

Keywords: alien species, poisoning, invasive species, public health

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Authors: Mohammad Sohail Yunis, Hina Hashim, Alistair R. Anderson

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Entrepreneurship is gendered with masculine qualities, yet social enterprise epitomizes caring a feminine quality. However enterprising practices may have little to do with gender. Consequently, the purpose of this paper is to examine practices using two very different explanatory theories, feminist and institutional theory, to establish the role played by gender. This study is situated in KP, the poor but traditional north of Pakistan. Utilising on an interpretive qualitative research approach, this research collected data through in-depth interviews with ten women social entrepreneurs of KP, Pakistan and analyzed using thematic analysis. Empirically, this paper identifies and describes on a number of interesting themes that relate to the women entrepreneurship such as 'women empowerment, patriarchal culture, role of culture and societal norms, religious extremism and terrorism, forced entrepreneurs, change creators, institutional corruption, and security issues'. In addition, female social enterprise in KP is set in a patriarchal, masculine culture, but the practices negotiate institutional obstacles to bring benefits to the disenfranchised. Finally, this research claims to present an original insight into female social entrepreneurship in a developing country context and provide fresh theoretical and empirical perspectives to advance knowledge and scholarship.

Keywords: female social entrepreneurship, institutional theory, feminist theory, developing countries

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Authors: Sepideh Khavarinezhad, Paolo Pietro Biancone

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This paper sheds light on how gender entrepreneurship is influenced by economic freedom in OECD countries. Our study empirically explores the interaction of financial institutions and its effect of both motivations on total entrepreneurial activities (TEA) of women and men in these countries and to discuss the differences between women and men in this field, which is always a hot topic in entrepreneurship. Employing a dynamic method, we conducted panel data analysis in the time frame from 2012-2015. In this regard, we evaluate the relationship between the Index of Economic Freedoms and its three years, and both indicators of Global Entrepreneurship Monitor (GEM) on supportive financial institutions. We investigate that economic liberalization tends to persuade men and women entrepreneurs to start their businesses or to reduce motivation entrepreneurship. In particular, our paper demonstrates that motivation entrepreneurship seems to benefit from government support and fade barriers in legal structure in business, while we expect to confirm that free trade and economic freedom stimulate the entrepreneur’s motivation and their participation to start own business.

Keywords: economic freedom, gender entrepreneurship, financial institutions, OECD countries

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Authors: Nazim Habibov, Alena Auchynnikava, Lida Fan

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The exploration of the relationship between social trust and the support of the welfare system in transitional countries has attracted growing interests in recent decades. This study estimates the effects of interpersonal and institutional trust on the support of the welfare system in 27 countries in Eastern Europe the former Soviet Union. We estimate the data sets from the Life-in-Transition Survey 2010 and 2016 with binomial regression models. The results indicate that both interpersonal and institutional trust have positive effects on the support for the welfare system in all the three areas under investigation: helping the needy, public healthcare and public education, both in the less developed countries of the former Soviet Union and in the more developed Eastern European countries. Furthermore, the positive effects of interpersonal and institutional trust on support for helping the needy, public healthcare and public education were found to grow over time. In conclusion, this study confirms that interpersonal and institutional trusts have positive effects for the public support of the welfare system in these transitional countries under investigation, regardless of their level of development.

Keywords: central and eastern Europe, former Soviet union, international social welfare policy, comparative social welfare policy

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Authors: Minhee Son, Kyung Nam Kim

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This study explores the plan of the Korean and Japanese governments to transition into the hydrogen economy. Two motor companies, Hyundai Motor Company from Korea and Toyota from Japan, released the Hydrogen Fuel Cell Vehicle to monopolize the green energy automobile market. Although, they are the main countries which emit greenhouse gas, hydrogen energy can bring from a certain industry places, such as chemical plants and steel mills. Recent, the two countries have been focusing on the hydrogen industry including a fuel cell vehicle, a hydrogen station, a fuel cell plant, a residential fuel cell. The purpose of this paper is to find out the differences of the policies in the two countries to be hydrogen societies. We analyze the behavior of the public and private sectors in Korea and Japan about hydrogen energy and fuel cells for the transition of the hydrogen economy. Finally we show the similarities and differences of both countries in hydrogen fuel cells. And some cities have feature such as Hydrogen cities. Hydrogen energy can make impact environmental sustainability.

Keywords: fuel cell, hydrogen city, hydrogen fuel cell vehicle, hydrogen station, hydrogen energy

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Authors: Zahra Bakhtiari

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Middle East countries confront a multitude of main environmental challenges which are inevitable. The unstable economic and political structure which dominates numerous middle East countries makes it difficult to react effectively to unfavorable climate change impacts. This study applies a qualitative methodology and relies on secondary literature aimed to investigate how countries in the Middle East are balancing economic security and climatic security in terms of budgeting, infrastructure investment, political engagement (domestically through discourses or internationally in terms of participation in international organizations or bargaining, etc.) There has been provided an outline of innovative measures in both economic and environmental fields that are in progress in the Middle East countries and what capacity they have for economic development and environmental adaptation, as well as what has already been performed. The primary outcome is that countries that rely more on infrastructure investment such as negative emissions technologies (NET) through green social capital enterprises and political engagement, especially nationally determined contributions (NDCs) commitments and United Nations Framework Convention on Climate Change (UNFCCC), experience more economic and climatological security balance in the Middle East. Since implementing these measures is not the same in all countries in the region, we see different levels of balance between climate security and economic security. The overall suggestion is that the collaboration of both the bottom-up and top-down approaches helps create strategic environmental strategies which are in line with the economic circumstances of each country and creates the desired balance.

Keywords: climate change, economic growth, sustainability, the Middle East, green economy, renewable energy

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Authors: Sumudu Sameera Perera Kimmantudawage, Chapal Khasnabis

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Technology is changing at a rapid rate, with innovations in robotics being hailed and tested in countries such as Japan, the United States and Australia, however the conversation in a public health context is stagnant. While obvious barriers to robotics use in low and middle-income countries and regions exist, the avoidance of attempting to address these regions of the world may potentially lead to an ever-increasing divide between those of high income countries and those of less. A systematic review was undertaken to determine the number of projects involving research, development and testing of robotics considered low and middle-income regions. Major findings indicate that an overwhelmingly significant number of projects failed to consider low and middle-income countries or regions. These results are unsurprising however alarming, as bridging the divide is an important step forward in achieving the UN Sustainable Development Goals by 2030. It is hoped that this research would spawn future robotics research that focusses on lower and middle-income regions.

Keywords: assistive technology, health equality, robotics, socioeconomic

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Authors: Heike Pintor Pirzkall

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The positive economic evolution of many countries in the Latin American Continent, mainly in South America, has changed the geopolitical position of the region in the world. It is no longer the Hinterland or backyard of the United States, now it has become the Heartland for Europe and Asia. This position has favored the interest of countries like China or India, who are combining trade agreements with special assistance and aid agreements in many fields like agriculture, alternative energy resources, defense and mining. As many countries in the region are no longer low income countries, a more equal relationship in development aid has been created were the donor and the recipient have become partners and where new actors intervene in a triangular relationship that promotes new alternative aid structures. Triangular co-operation brings together the best of different actors who are providers of development co-operation, partners in SouthSouth co-operation and international organizations. The objective is to share knowledge and implement projects that support the common goal of reducing poverty and promoting development. The intention of this paper is to explain the reasons for Latin America´s “virage” to the east and to give examples of projects and agreements between Latin American countries, China and India which will help to understand the intensification of south-east relations in recent years.

Keywords: development cooperation, China, Latin America, triangular cooperation, natural resources, partnership

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Authors: Hannah Wamaitha Irungu

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Educational reforms have been made from time to time since independence in Kenya. Kenya previously had a curriculum system coined as 8.4.4, where learners go through 8 years of primary, 4 years of secondary, and 4 years of tertiary or college education. The 8.4.4 system was very theoretical, examinational oriented, lacked career guidance, lacked I.C.T. infrastructure and had the pressure for exam grading results to move to the next level. Kenya is now implementing a Competency Based Curriculum (C.B.C) system of education. C.B.C, on the other hand, is learner based. It focuses mainly on the ability of the learners, their strengths/likings, not what they are systematically trained to pass exams only for progression. The academic pressure will be eased, which gives a chance to all learners to pursue their fields of strength and not only those endowed academically/theoretically. With C.B.C., each learner’s progress is nurtured and monitored over a period of 14 years that are divided into four major levels (2-6-3-3): 1. Pre-primary education [pp1 and pp2]-2 years; 2. Lower-primary [grades 1 - 6]-6 years; 3. Junior-secondary [grades 7 - 9]-3 years; 4. Senior secondary [grades 10 - 12]-3 years. In this paper, we look at these aspects with regards to C.B.C.: What necessitates it, its key strengths/benefits and application in a developing country; Implementation, what has worked and what is not working with the approach taken by Kenya education stakeholders during this process; Stakeholders, who should be involved/own the process; Conclusion, lessons learned, current status and recommendations going forward.

Keywords: benefits, challenges, competency, curricula, Kenya, successes

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Authors: Taboka Motlhabane, Pradeep Sahoo

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The global demand for cooling has grown exponentially over the past century to meet economic development and social needs, accounting for approximately 10% of the global electricity consumption. As global temperatures continue to rise, the demand for cooling and heating, ventilation and air-conditioning (HVAC) equipment is set to rise with it. The increased use of HVAC equipment has significantly contributed to the growth of greenhouse gas (GHG) emissions which aid the climate crisis- one of the biggest challenges faced by the current generation. The need to address emissions caused directly by HVAC equipment and electricity generated to meet the cooling or heating demand is ever more pressing. Currently, developed countries account for the largest cooling and heating demand, however developing countries are anticipated to experience a huge increase in population growth in 10 years, resulting in a shift in energy demand. Developing countries, which are projected to account for nearly 60% of the world's GDP by 2030, are rapidly building infrastructure and economies to meet their growing needs and meet these projections. Cooling, a very energy-intensive process that can account for 20 % to 75% of a building's energy, depending on the building's use. Solar photovoltaic (PV) driven air-conditioning offers a great cost-effective alternative for adoption in both residential and non-residential buildings to offset grid electricity, particularly in countries with high irradiation, such as Botswana. This research paper explores the potential of a grid-connected solar photovoltaic vapor-compression air-conditioning system for the Peter-Smith herbarium at the Okavango Research Institute (ORI) University of Botswana campus in Maun, Botswana. The herbarium plays a critical role in the collection and preservation of botanical data, dating back over 100 years, with pristine collection from the Okavango Delta, a UNESCO world heritage site and serves as a reference and research site. Due to the herbarium’s specific needs, it operates throughout the day and year in an attempt to maintain a constant herbarium temperature of 16°?. The herbarium model studied simulates a variable-air-volume HVAC system with a system rating of 30 kW. Simulation results show that the HVAC system accounts for 68.9% of the building's total electricity at 296 509.60 kWh annually. To offset the grid electricity, a 175.1 kWp nominal power rated PV system requiring 416 modules to match the required power, covering an area of 928 m2 is used to meet the HVAC system annual needs. An economic assessment using PVsyst found that for an installation priced with average solar PV prices in Botswana totalled to be 787 090.00 BWP, with annual operating costs of 30 500 BWP/year. With self-project financing, the project is estimated to have recouped its initial investment within 6.7 years. At an estimated project lifetime of 20 years, the Net Present Value is projected at 1 565 687.00 BWP with a ROI of 198.9%, with 74 070.67 tons of CO2 saved at the end of the project lifetime. This study investigates the performance of the HVAC system to meet the indoor air comfort requirements, the annual PV system performance, and the building model has been simulated using DesignBuilder Software.

Keywords: vapor compression refrigeration, solar cooling, renewable energy, herbarium

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Authors: Alka Obadić

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The research concentrates on the role of tourism in generating female employment and on impact of gender discrimination in tourism sector. Unfortunately, in many countries there are still some barriers to the inclusion of women at all hierarchical levels of tourism labor market. Research analysis focuses on EU countries where tourism is a main employer of women. The analysis shows that women represent over third persons employed in the non-financial business economy and almost two thirds in core tourism activities. Women's gross hourly earnings in accommodation and food services were below those of men in the European Union and only countries who recorded increase of gender pay gap from the beginning of crisis are Bulgaria and Croatia. Women in tourism industry are still overrepresented in lower status jobs with fewer opportunities for career progression and are often treated unequally.

Keywords: employment, gender discrimination, tourism, women’s participation

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Authors: Marcelo Pereira Introini

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The global value chains (GVC) approach contributes to a better understanding of the international production organization amid globalization’s second unbundling from the 1970s on. Mainly due to the tools that help to understand the importance of critical competences, technological capabilities, and functions performed by each player, GVC research flourished in recent years, rooted in discussing the possibilities of integration and repositioning along regional and global value chains. Regarding this context, part of the literature endorsed a more optimistic view that engaging in fragmented production networks could represent learning opportunities for developing countries’ firms, since the relationship with transnational corporations could allow them build skills and competences. Increasing recognition that GVCs are based on asymmetric power relations provided another sight about benefits, costs, and development possibilities though. Once leading companies tend to restrict the replication of their technologies and capabilities by their suppliers, alternative strategies beyond the functional specialization, seen as a way to integrate value chains, began to be broadly highlighted. This paper organizes a coherent narrative about the shortcomings of the GVC analytical framework, while recognizing its multidimensional contributions and recent developments. We adopt two different and complementary perspectives to explore the idea of integration in the international production. On one hand, we emphasize obstacles beyond production components, analyzing the role played by intangible assets and intellectual property regimes. On the other hand, we consider the importance of domestic production and innovation systems for technological development. In order to provide a deeper understanding of the restrictions on technological learning of developing countries’ firms, we firstly build from the notion of intellectual monopoly to analyze how flagship companies can prevent subordinated firms from improving their positions in fragmented production networks. Based on intellectual property protection regimes we discuss the increasing asymmetries between these players and the decreasing access of part of them to strategic intangible assets. Second, we debate the role of productive-technological ecosystems and of interactive and systemic technological development processes, as concepts of the Innovation Systems approach. Supporting the idea that not only endogenous advantages are important for international competition of developing countries’ firms, but also that the building of these advantages itself can be a source of technological learning, we focus on local efforts as a crucial element, which is not replaceable for technology imported from abroad. Finally, the paper contributes to the discussion about technological development as a two-dimensional dynamic. If GVC analysis tends to underline a company-based perspective, stressing the learning opportunities associated to GVC integration, historical involvement of national States brings up the debate about technology as a central aspect of interstate disputes. In this sense, technology is seen as part of military modernization before being also used in civil contexts, what presupposes its role for national security and productive autonomy strategies. From this outlook, it is important to consider it as an asset that, incorporated in sophisticated machinery, can be the target of state policies besides the protection provided by intellectual property regimes, such as in export controls and inward-investment restrictions.

Keywords: global value chains, innovation systems, intellectual monopoly, technological development

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Authors: S. Jimenez, R.Duarte, J.Sanchez-Choliz, I. Villanua

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There is a certain consensus in economic literature about the factors that have influenced in historical differences in growth rates observed between developed and developing countries. However, it is less clear what elements have marked different paths of growth in developed economies in recent decades. R&D has always been seen as one of the major sources of technological progress, and productivity growth, which is directly influenced by technological developments. Following recent literature, we can say that ‘innovation pushes the technological frontier forward’ as well as encourage future innovation through the creation of externalities. In other words, productivity benefits from innovation are not fully appropriated by innovators, but it also spread through the rest of the economies encouraging absorptive capacities, what have become especially important in a context of increasing fragmentation of production This paper aims to contribute to this literature in two ways, first, exploring alternative indexes of R&D flows embodied in inter-country, inter-sectorial flows of good and services (as approximation to technology spillovers) capturing structural and technological characteristic of countries and, second, analyzing the impact of direct and embodied R&D on the evolution of labor productivity at the country/sector level in recent decades. The traditional way of calculation through a multiregional input-output framework assumes that all countries have the same capabilities to absorb technology, but it is not, each one has different structural features and, this implies, different capabilities as part of literature, claim. In order to capture these differences, we propose to use a weight based on specialization structure indexes; one related with the specialization of countries in high-tech sectors and the other one based on a dispersion index. We propose these two measures because, as far as we understood, country capabilities can be captured through different ways; countries specialization in knowledge-intensive sectors, such as Chemicals or Electrical Equipment, or an intermediate technology effort across different sectors. Results suggest the increasing importance of country capabilities while increasing the trade openness. Besides, if we focus in the country rankings, we can observe that with high-tech weighted R&D embodied countries as China, Taiwan and Germany arose the top five despite not having the highest intensities of R&D expenditure, showing the importance of country capabilities. Additionally, through a fixed effects panel data model we show that, in fact, R&D embodied is important to explain labor productivity increases, in fact, even more that direct R&D investments. This is reflecting that globalization is more important than has been said until now. However, it is true that almost all analysis done in relation with that consider the effect of t-1 direct R&D intensity over economic growth. Nevertheless, from our point of view R&D evolve as a delayed flow and it is necessary some time to be able to see its effects on the economy, as some authors have already claimed. Our estimations tend to corroborate this hypothesis obtaining a gap between 4-5 years.

Keywords: economic growth, embodied, input-output, technology

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Authors: Nayyra Zeb, Fu Qiang, Sundas Rauf

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Foreign Direct Investment (FDI) is often seen as a significant factor of economic development in developing countries like Pakistan. The aim of this article is to investigate the effect of FDI on Pakistan’s economic growth during 1972–2012. Besides FDI, three other variables such as trade openness, political instability and terrorist attacks are also used in this study. The least square method has been applied to check the effect of these variables on GDP of Pakistan. The results show that FDI has a positive significant effect on economic growth of Pakistan.

Keywords: FDI inflows, trade openness, political instability, terrorist attacks

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Authors: Mouhamed Mbouandi Njikam

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This work assesses the trade potential of countries in the Economic Community of Central Africa States (ECCAS). The gravity model of trade is used to evaluate the trade flows of member countries, and to compute the trade potential index of ECCAS during 1995-2010. The focus is on the removal of tariffs and non-tariff barriers in the sub-region. Estimates from the gravity model are used for the calculation of the sub-region’s commercial potential. Its three main findings are: (i) the background research shows a low level of integration in the sub-region and open economies; (ii) a low level of industrialization and diversification are the main factors reducing trade potential in the sub-region; (iii) the trade creation predominate on the deflections of trade between member countries.

Keywords: gravity model, ECCAS, trade flows, trade potential, regional cooperation

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Authors: Mohamed Muse Hassan

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Selling through the Internet is changing the norms of doing business globally. Today, selling and buying from the Internet is not only an option but the dominant form of shopping. But, this phenomenon is not thriving in the developing countries, mainly in Africa. Therefore, although previous studies focused on the e-retailers’ side, this study investigates the effect of consumer trust and online payment options on the awareness and perception of e-commerce in Africa. We developed a five-construct model and empirically tested the model by targeting professionals and college students who reside in Somalia. We employed structural equation modeling (SEM) technique for path analysis to probe answers for the variables under study. The main findings of the study show that there is significant evidence that online payment option impacts both the awareness level and perception of e-commerce in Somalia. Consumer trust was also found to determine both the awareness and perception of online shopping in the country. Moreover, the current global payment options available ignore local technologies popular in Africa. For example, the inclusion of a mobile payment option alone would make a big difference in Africa. The paper also determined that consumer trust toward online retailers is very low and this can be solved if consumers are given assurances for their financial transactions. The paper concludes that increased online payment options are needed in Somalia and, in Africa, in general. Limitations and further research suggestions are also included at the end of this paper.

Keywords: Africa, consumer trust, e-commerce, online payment

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Authors: N. Ikasari, T. Sumransat, U. Eko, R. Kusumastuti

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Small and medium enterprises (SMEs) are regarded as the engine for economic development, notwithstanding their continuous financing conundrum. In the case of developing countries, access to finance is a reflection of the effectiveness of government policy. The widely accepted perspective to assess small businesses’ access to finance is that of economic view. The existing body of literature presents access to finance in three dimensions; they are accessibility, eligibility and affordability. Within this perspective, the role of socio-cultural has not explored. This study is aimed at investigating the existence of any socio-cultural factors within access to finance issue in Asian countries where governance is enriched by countries’ values and beliefs. The significance of this study is the instigation of supplementary dimension to assess access to finance that eventually contributes to the development of micro-finance policy. Indonesia and Thailand are selected as cases in point, where distinction is drawn on the level of cultural diversity and micro-finance policy in respective country. A questionnaire is used to collect information related to the three dimensions of access to finance as well as to explore alternative financing reasoning to elaborate the issue from the demand side. Questionnaires are distributed to 60 small business owners operating in Indonesia and the same number in Thailand. In order to present a complete understanding on the matter at hand, interviews with banks are conducted to capture the perspective as presented by the supply side. Research findings show that small business owners and banks in Indonesia and Thailand are in agreement that access to finance is not deemed as an issue. However, trust issue that exists mutually between financing users and providers leads small business owners in Indonesia to look for alternative financing other than banks. The findings contribute to the refinement of micro-financing policy in Indonesia and Thailand.

Keywords: access to finance, Indonesia, small and medium enterprises, Thailand

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Authors: S. Sundarasen, I. Ibrahim

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This study examines whether the legal origin of a country alters the association between corruption and corporate performance in the East Asia and South East Asia Region. A total of 18,286 companies from 14 countries in the East Asia and South East Asia Region are tested using Generalized Least Square (GLS) panel and pool data analysis with the cross-section being the income level. The data is further analyzed in terms of high income, upper middle income and low-income countries within the East and South Asia region. The empirical results indicate that legal origin positively moderates the relationship between a country’s corruption level and firm performance. As for the sub-analysis, legal origin positively moderates only in the high and upper middle-income countries. As for the low-income countries, no significance is documented in both the common and civil law.

Keywords: corruption, performance, legal origin, East Asia and South East Asia Region

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Authors: Vincent Otieno, Alfred Agwanda, Anne Khasakhala

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Among the neo-Malthusian adherents, it is believed that rapid population growth strain countries’ capacity and performance. Fertility have however decelerated in most of the countries in the recent past. Scholars have concentrated on wide range of factors associated with fertility majorly at the national scale with some opining that analysis of trends and differentials in the various fertility parameters have been discussed extensively. However, others believe that considerably less attention has been paid to the fertility preference- a pathway through which various variables act on fertility. The Sub-Saharan African countries’ disparities amid almost similarities in policies is a cause of concern to demographers. One would point at the meager synergies that have been focused on the fertility preference as well, especially at the macro scale. Using Bongaarts reformulation of Easterlin and Crimmins (1985) conceptual scheme, the understanding of the current transition based on the fertility preference in general would help to provide explanations to the observed latest dynamics. This study therefore is an attempt to explain the current fertility transition through women’s fertility preference. Results reveal that indeed fertility transition is on course in most of the sub-Saharan countries with huge disparities in fertility preferences and its implementation indices.

Keywords: fertility preference, the degree of implementation index, sub-Saharan Africa, transition

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Authors: Shabeer Khan

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The main objective of Islamic Finance is to promote social justice thorough financial inclusion and redistribution of economic resources between rich and poor. The approach of Islamic finance is more comprehensive in nature and covers both formal and informal sectors of the economy, first, through reducing the gap between both sectors, and second by using specific Islamic values to reallocate the wealth between formal and informal sectors. Applying Generalized Method of Movements (GMM) to the annual data spanning from 1995-2015 for 141 countries, this study explores the determinants of informal business sector in Organization of Islamic Cooperation (OIC) countries and then compares with Non-OIC countries. Economic freedom and institutions variables as well as economic growth and money supply are found to reduce informal business sector in both OIC and Non-OIC nations while government expenditure are found to increase informal business sector in both group of nations. Informal Business sector remain the same in both types of countries but still the majority Muslim population in OIC economies create main difference between both groups of nations and justify the potential role of Islamic Finance in informal business sector in OIC nations. The study suggests that institutions quality should be improved and entrepreneurs’ friendly business environment must be provided. This study refines the main features of informal business sector and discuss their implications on policy designing and implementation, particularly in the context of Islamic finance fight against poverty, inequality and improving living standards of informal sector participants in OIC countries.

Keywords: Islamic finance, informal Business Sector, Generalized Method of Movements (GMM) and OIC

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Authors: Shamsuddeen Muhammad Ahmad

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The emergence and operations of Islamic Financial Institutions (IFIs) are being regarded as the new economic and financial pride at the global stage today. Admittedly, therefore, the IFIs has continued to impact positively on the economies of its host countries, especially the Gulf Cooperation Council (GCC) region, Asian and Western countries as well as making a steady in-road into the sub-Saharan Africa. Hence, the number of countries that adopted Islamic financial system in Africa has continued to increase. As a matter of fact, this paper examines the role and contributions of Islamic Financial Institutions (IFIs) to the economic growth and financial development of the big emerging markets in the African continent i.e. South Africa, Nigeria, and Egypt. The methods adopted for this study are descriptive, comparative and analytical in nature. Essentially, the findings from this study reveal that the three sampled countries are benefitting from the presence of IFIs in their economies in terms of contributions to economic growth and real sector participation, particularly for Egypt and South Africa. Similarly, they reap from foreign direct investments and economic diversification among others. However, this study recommends that African countries should integrate IFIs as part and parcel of their economic and financial systems, in order to benefit optimally from this new economic phenomenon.

Keywords: Islamic financial services, Africa, emerging markets, development, operation

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Authors: Yude Wu

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Mongolia, grappling with significant socio-economic challenges, faces pressing issues of inequality and poverty, as evidenced by a high Gini coefficient and the highest poverty rate among the top 20 largest Asian countries. Despite government efforts, Mongolia's poverty rate experienced only a slight reduction from 29.6 percent in 2016 to 27.8 percent in 2020. PEER countries, such as South Africa, Botswana, Kazakhstan, and Peru, share characteristics with Mongolia, including reliance on the mining industry and classification as lower middle-income countries. Successful transitions of these countries to upper middle-income status between 1994 and the 2010s provide valuable insights. Drawing on secondary analyses of existing research and PEER country profiles, the study evaluates past policies, identifies gaps in current approaches, and proposes recommendations to combat poverty sustainably. The hypothesis includes a reliance on the mining industry and a transition from lower to upper middle-income status. Policies from these countries, such as the GEAR policy in South Africa and economic diversification in Botswana, offer insights into Mongolia's development. This essay aims to illuminate the multidimensional nature of underdevelopment in Mongolia through a secondary analysis of existing research and PEER country profiles, evaluating past policies, identifying gaps in current approaches, and providing recommendations for sustainable progress. Drawing inspiration from PEER countries, Mongolia can implement policies such as economic diversification to reduce vulnerability and create stable job opportunities. Emphasis on infrastructure, human capital, and strategic partnerships for Foreign Direct Investment (FDI) aligns with successful strategies implemented by PEER countries, providing a roadmap for Mongolia's development objectives.

Keywords: inequality, PEER countries, comparative analysis, nomadic animal husbandry, sustainable growth

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Authors: Manana Lobzhanidze

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Introduction: The paper will argue that labor migration is the most important problem Georgia faces today. The structure of labor migration by age and gender of Georgia is analyzed. The main driving factors of circular labor migration during the last ten years are identified. While studying migration, it is necessary to discuss the interconnection of economic, social, and demographic features, also taking into consideration the policy of state regulations in terms of education and professional training. Methodology: Different research methods are applied in the presented paper: statistical, such as selection, grouping, observation, trend, and qualitative research methods, namely; analysis, synthesis, induction, deduction, comparison ones. Main Findings: Labour migrants are filling the labor market as a low salary worker. The main positive feedback of migration from developing countries is poverty eradication, but this process is accompanied by problems, such as 'Brain Drain'. The country loses an important part of its intellectual potential, and it is invested by households or state itself. Conclusions: Labor migration is characterized to be temporary, but socio-economic problems of the country often push the labor migration in the direction of longterm and illegal migration. Countries with developed economies try to stricter migration policy and fight illegal migration with different methods; circular migration helps solve this problem. Conclusions and recommendations are included about circular labor migration consequences in Georgia and its influence on the reduction of unemployment level.

Keywords: migration, circular labor migration, labor migration employment, unemployment

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Authors: Luphumlo Ncanywa, Paul Watts

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Malaria is a disease that kills approximately one million people annually. Children and pregnant women in sub-Saharan Africa lost their lives due to malaria. Malaria continues to be one of the major causes of death, especially in poor countries in Africa. Decrease the burden of malaria and save lives is very essential. There is a major concern about malaria parasites being able to develop resistance towards antimalarial drugs. People are still dying due to lack of medicine affordability in less well-off countries in the world. If more people could receive treatment by reducing the cost of drugs, the number of deaths in Africa could be massively reduced. There is a shortage of pharmaceutical manufacturing capability within many of the countries in Africa. However one has to question how Africa would actually manufacture drugs, active pharmaceutical ingredients or medicines developed within these research programs. It is quite likely that such manufacturing would be outsourced overseas, hence increasing the cost of production and potentially limiting the full benefit of the original research. As a result the last few years has seen major interest in developing more effective and cheaper technology for manufacturing generic pharmaceutical products. Micro-reactor technology (MRT) is an emerging technique that enables those working in research and development to rapidly screen reactions utilizing continuous flow, leading to the identification of reaction conditions that are suitable for usage at a production level. This emerging technique will be used to develop antimalarial drugs. It is this system flexibility that has the potential to reduce both the time was taken and risk associated with transferring reaction methodology from research to production. Using an approach referred to as scale-out or numbering up, a reaction is first optimized within the laboratory using a single micro-reactor, and in order to increase production volume, the number of reactors employed is simply increased. The overall aim of this research project is to develop and optimize synthetic process of antimalarial drugs in the continuous processing. This will provide a step change in pharmaceutical manufacturing technology that will increase the availability and affordability of antimalarial drugs on a worldwide scale, with a particular emphasis on Africa in the first instance. The research will determine the best chemistry and technology to define the lowest cost manufacturing route to pharmaceutical products. We are currently developing a method to synthesize Lumefantrine in continuous flow using batch process as bench mark. Lumefantrine is a dichlorobenzylidine derivative effective for the treatment of various types of malaria. Lumefantrine is an antimalarial drug used with artemether for the treatment of uncomplicated malaria. The results obtained when synthesizing Lumefantrine in a batch process are transferred into a continuous flow process in order to develop an even better and reproducible process. Therefore, development of an appropriate synthetic route for Lumefantrine is significant in pharmaceutical industry. Consequently, if better (and cheaper) manufacturing routes to antimalarial drugs could be developed and implemented where needed, it is far more likely to enable antimalarial drugs to be available to those in need.

Keywords: antimalarial, flow, lumefantrine, synthesis

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Authors: Terigele

Abstract:

Cultural products are always shelved into different classes of a hierarchy that separates so-called highbrow and lowbrow cultures. This study illustrated that audiences might even construct a hierarchy according to the origin countries when consuming certain products. Chinese audiences now have access to TV series from all around the world thanks to the internet. TV series from different origin countries show some particular features in terms of length, theme, plots, accessibility, seriousness etc. Their audiences were therefore stereotyped because of what they watch. Based on in-depth interviews with 20 participants, this research has following findings: 1) Most popular origin countries of foreign TV series in China are Korea, the United States, the United Kingdom, Japan and European countries in a descending order. Korean TV series are most popular because they are less serious and more accessible compared to others. 2) In the hierarchy of the TV series, European TV series stand on the top followed by British and American TV series. Japanese TV series are also categorized into highbrow class. Korean TV series are at the bottom and always seen as lowbrow cultural products. 3) Most audiences consume TV series from more than one origin countries and have different needs when watching them. Participants reported that they watch European TV series because those TV series are more artistic than their counterparts and of great quality. They watch British and American TV series mainly to improve their English and to learn about the culture. They find Japanese TV series very enjoyable with a large variety of themes and impressive lines. Audiences watch Korean TV series mostly to entertain and kill time. 4) Audiences do care about cultural taste. Especially those who watch European, British and American TV series usually tend to consider audiences who watch nothing but Korean TV series to be shallow. On the other hand, Korean TV series’ audiences seem to care less about the hierarchy of the TV series. Even when they discuss the hierarchy, they tend to accept the judgments with ironies and jokes. Future studies can dig deeply into the genre and content of TV series with different origin countries and also investigate more about the psychology of audiences regarding the gender, age, education, socioeconomic status etc.

Keywords: foreign TV series, hierarchy, popularity, uses and gratification

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Authors: Lucian J. Pitt

Abstract:

The primary purpose of this study is to understand the differences in the relationship between working capital management efficiency, working capital investment decisions and working capital finance decisions and the profitability of firms within the context of two African developing economies, Kenya and Nigeria. The study finds that there is a significant difference in the relationship between the firm’s profitability and the working capital variables which suggests different challenges for working capital management in each of these countries.

Keywords: working capital management, working capital investment, working capital finance, profitability, cash conversion cycle

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Authors: Tariq Aziz, Suresh Kumar, Vikesh Kumar, Sheraz Mustafa, Jhanzeb Marwat

Abstract:

The paper provides an updated version of volatility spillover among the equity markets of South Asian countries, including Pakistan, India, Srilanka, and Bangladesh. The analysis uses both symmetric and asymmetric Generalized Autoregressive Conditional Heteroscedasticity models to investigate volatility persistence and leverage effect. The bivariate EGARCH model is used to test for volatility transmission between two equity markets. Weekly data for the period February 2013 to August 2019 is used for empirical analysis. The findings indicate that the leverage effect exists in the equity markets of all the countries except Bangladesh. The volatility spillover from the equity market of Bangladesh to all other countries is negative and significant whereas the volatility of the equity market of Sri-Lanka does influence the volatility of any other country’s equity market. Indian equity market influence only the volatility of the Sri-Lankan equity market; and there is bidirectional volatility spillover between the equity markets of Pakistan and Bangladesh. The findings are important for policy-makers and international investors.

Keywords: volatility spillover, volatility persistence, garch, egarch

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Authors: Odigie Veronica

Abstract:

The paper focused on the application of Information and Communication Technology (ICT) in effective service delivery in view of the ongoing COVID-19 experience. It adopted the exploratory research method with three research objectives captured. Consequently, the objectives were to ascertain the meaning of online education, understand the concept of COVID-19 and to determine the relevance of online education in effective service delivery in institutions of learning. It is evident from the findings that through ICT, online mode of learning can be adopted in schools which helps greatly in promoting continual education. Online mode of education is practiced online; it brings both the teacher and learners from different places together, without any physical boundary/contact (at least 75%); and has helped greatly in human development in countries where it has been practiced. It is also a welcome development owing to its many benefits such as exposure to digital learning, having access to works of great teachers and educationists such as Socrates, Plato, Dewey, R.S. Peters, J. J. Rosseau, Nnamdi Azikwe, Carol Gilligan, J. I. Omoregbe, Jane Roland Martin, Jean Piaget, among others; and the facilitation of uninterrupted learning for class promotion and graduation of students. Developing the learners all round is part of human development which helps in developing a nation. These and many more are some benefits online education offers which make ICT very relevant in our contemporary society

Keywords: online education, COVID-19 pandemic, effective service delivery, human development

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Authors: Wuttigrai Ngamsirijit

Abstract:

Creative tourism is an ongoing development in many countries as an attempt to moving away from serial reproduction of culture and reviving the culture. Despite, in the destinations with diverse and potential cultural resources, creating new tourism services can be vague. This paper presents how tourism experiences are modularized and consolidated in order to form new creative tourism service offerings in evanescent cultural communities of Bangkok, Thailand. The benefits from data mining in accommodating value co-creation are discussed, and implication of experience modularization to national creative tourism policy is addressed.

Keywords: co-creation, creative tourism, new service design, experience modularization

Procedia PDF Downloads 349