Search results for: economic benefits

Authors: Md. Qamruzzaman, Wei Jianguo

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Over the decade, it is observed that financial development, through financial innovation, not only accelerated development of efficient and effective financial system but also act as a catalyst in the economic development process. In this study, we try to explore insight about how financial innovation causes economic growth in Bangladesh by using Vector Error Correction Model (VECM) for the period of 1990-2014. Test of Cointegration confirms the existence of a long-run association between financial innovation and economic growth. For investigating directional causality, we apply Granger causality test and estimation explore that long-run growth will be affected by capital flow from non-bank financial institutions and inflation in the economy but changes of growth rate do not have any impact on Capital flow in the economy and level of inflation in long-run. Whereas, growth and Market capitalization, as well as market capitalization and capital flow, confirm feedback hypothesis. Variance decomposition suggests that any innovation in the financial sector can cause GDP variation fluctuation in both long run and short run. Financial innovation promotes efficiency and cost in financial transactions in the financial system, can boost economic development process. The study proposed two policy recommendations for further development. First, innovation friendly financial policy should formulate to encourage adaption and diffusion of financial innovation in the financial system. Second, operation of financial market and capital market should be regulated with implementation of rules and regulation to create conducive environment.

Keywords: financial innovation, economic growth, GDP, financial institution, VECM

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Authors: A. Meydanlioglu, F. Arikan

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In recent years, thanks to the development of information and communication technologies, the computer and internet have been used widely in higher education. Internet-based education is impacting traditional higher education as online components increasingly become integrated into face-to-face (FTF) courses. The goal of combined internet-based and traditional education is to take full advantage of the benefits of each platform in order to provide an educational opportunity that can promote student learning better than can either platform alone. Research results show that the use of hybrid learning is more effective than online or FTF models in higher education. Due to the potential benefits, an increasing number of institutions are interested in developing hybrid courses, programs, and degrees. Future research should evaluate the effectiveness of hybrid learning. This paper is designed to determine the impact of hybrid learning on higher education.

Keywords: e-learning, higher education, hybrid learning, online education

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Authors: A. Kampker, P. Burggräf, Y. Bäumers

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In order to be competitive, companies have to reduce their production costs while meeting increasing quality requirements. Therefore, companies try to plan their assembly processes as detailed as possible. However, increasing product individualization leading to a higher number of variants, smaller batch sizes and shorter product life cycles raise the question to what extent the effort of detailed planning is still justified. An important approach in this field of research is the concept of determining the economic planning depth for assembly process planning based on production specific influencing factors. In this paper, first solution hypotheses as well as a first draft of the resulting method will be presented.

Keywords: assembly process planning, economic planning depth, planning benefit, planning effort

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Authors: Hagos Abraham, Solomon Gizaw, Mengistu Urge

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A sound breeding objective is the basis for genetic improvement in overall economic merit of farm animals. Begait goat is one of the identified breeds in Ethiopia, which is a multipurpose breed as it serves as source of cash income and source of food (meat and milk). Despite its importance, no formal breeding objectives exist for Begait goat. The objective of the present study was to identify breeding objectives for the breed through two approaches: using own-flock ranking experiment and developing deterministic bio-economic models as a preliminary step towards designing sustainable breeding programs for the breed. In the own-flock ranking experiment, a total of forty five households were visited at their homesteads and were asked to select, with reasons, the first best, second best, third best and the most inferior does from their own flock. Age, previous reproduction and production information of the identified animals were inquired; live body weight and some linear body measurements were taken. The bio-economic model included performance traits (weights, daily weight gain, kidding interval, litter size, milk yield, kid mortality, pregnancy and replacement rates) and economic (revenue and costs) parameters. It was observed that there was close agreement between the farmers’ ranking and bio-economic model results. In general, the results of the present study indicated that Begait goat owners could improve performance of their goats and profitability of their farms by selecting for litter size, six month weight, pre-weaning kid survival rate and milk yield.

Keywords: bio-economic model, economic parameters, own-flock ranking, performance traits

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Authors: Khalid Yousuf Ahmed

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At the beginning of growth period, East Asian countries achieved impressive economic growth for the decades. They transformed from agricultural economy toward industrialization and contributed to dynamic structural transformation. The achievements were driven by government-led development policies that implemented effective innovation policy to boost technological capability of local firms. Recently, most Sub-Saharan African have been showing sustainable growth. Exceptionally, Ethiopia has been recording double-digit growth for a decade. Hence, Ethiopia has claimed to follow the footstep of East Asia development model. The study is going to examine whether Ethiopia can replicate innovation and economic growth model of East Asia by using Japan, Taiwan, South Korea and China as a case to illustrate their model of growth. This research will be based on empirical data gathering and extended theory of national innovation system and economic growth theory. Moreover, the methodology is based on Knowledge Assessment Methodology (KAM) and also employing cross-countries regression analysis. The results explained that there is a significant relationship between innovation indicators and economic growth in East Asian countries while the relationship is non-existing for Ethiopia except implementing similar policies and achieving similar growth trend. Therefore, Ethiopia needs to introduce inclusive policies that give priority to improving human capital and invest on the knowledge-based economy to replicate East Asian Model.

Keywords: economic growth, FDI, endogenous growth theory, East Asia model

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Authors: Muhammad Ajmair

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This empirical study followed structural vector auto regression (SVAR) approach proposed by the so-called AB-model of Amisano and Giannini (1997) to check the impact of relevant macroeconomic determinants on economic growth in Pakistan. Before that auto regressive distributive lag (ARDL) bound testing technique and time varying parametric approach along with general to specific approach was employed to find out relevant significant determinants of economic growth. To our best knowledge, no author made such a study that employed auto regressive distributive lag (ARDL) bound testing and time varying parametric approach with general to specific approach in empirical literature, but current study will bridge this gap. Annual data was taken from World Development Indicators (2014) during period 1976-2014. The widely-used Schwarz information criterion and Akaike information criterion were considered for the lag length in each estimated equation. Main findings of the study are that remittances received, gross national expenditures and inflation are found to be the best relevant positive and significant determinants of economic growth. Based on these empirical findings, we conclude that government should focus on overall economic growth augmenting factors while formulating any policy relevant to the concerned sector.

Keywords: economic growth, gross national expenditures, inflation, remittances

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Authors: Charmaine Devinee Pillay

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Employees in both public and private sectors are expected to contribute significantly to the growth and development of the organization that employs them. Good working conditions are directly linked to the optimum output emanating from the workforce’s excellent performance. Insecurity, instability and lack of benefits negatively impact on the employees’ commitment to their job. This is a qualitative case study that comprised 40 “Contract Employees” (Academic and Supporting staff) in the Faculty of Health Sciences, Walter Sisulu University, Mthatha, Eastern Cape, South Africa. Questionnaire, as instrument of data collection, was used to obtain qualitative data. Data collected were categorized in themes and sub-themes for analyses and discussion. Findings showed that “contract Employees” are highly demoralized due to job insecurity and non-benefits, among other factors, which directly affect their overall output in discharging their duties. The case study at Walter Sisulu University typifies the generalized challenges faced by workers on contract basis in South Africa. It is therefore, recommended that employers hire their workforce on permanent basis or, where “Contract Employment “is inevitable, similar conditions that go with permanent employment should be incorporated in the contract terms of “Contract Employees”. This serves as impetus for optimum performance.

Keywords: contract employee, insecurity, instability, risk factors

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Authors: Zhai Yujia

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None of the scholars and researchers has ever stepped into this field, though there are quite a few papers worked on various topics relevant to cultural and economic globalization separately. Economic globalization is earlier than cultural globalization. Since the invention of currency, people have had the sense of making money for the purpose of living, supporting their families, or other personal reasons. Their strong desire for earning a living is one of the incentives to propel the trade, tourism and other related economic activities that provide the service within the homeland at first and expand into the whole world later, as the global markets grow and mature. The need for operation impels international communication or interaction. To achieve this, it is vital to realize or recognize other cultures to some degree, concluding language, customs, social etiquette and history of different nations. All this drives the cultural globalization process. In contrast, it is clear that the development of cultural globalization does accelerate the process of economic globalization in return. Under the guidance of Skopos theory (first proposed by Hans Vermeer, and its core principle is that the translation process is determined by the purpose), this paper aims to demonstrate that cultural globalization is not a process in isolation by analyzing its driving forces and retroaction thoroughly with an approach of overview. It intertwines with economic globalization. The two push each other to proper gradually during their development, serving as the indispensable parts of the globalization process.

Keywords: cultural globalization, driving forces, retroaction, Skopos theory

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Authors: Duong Van Thanh

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Artificial Intelligence (AI) has been recently a new trend in Higher Education systems globally as well as in the Vietnamese Higher Education. This study explores the benefits and challenges in applications of AI in 02 selected universities, ie. Vietnam National Universities in Hanoi Capital and the University of Economics in Ho Chi Minh City. Particularly, this paper focuses on how the ethics of Artificial Intelligence have been addressed among faculty members at these two universities. The AI ethical issues include the access and inclusion, privacy and security, transparency and accountability. AI-powered educational technology has the potential to improve access and inclusion for students with disabilities or other learning needs. However, there is a risk that AI-based systems may not be accessible to all students and may even exacerbate existing inequalities. AI applications can be opaque and difficult to understand, making it challenging to hold them accountable for their decisions and actions. It is important to consider the benefits that adopting AI-systems bring to the institutions, teaching, and learning. And it is equally important to recognize the drawbacks of using AI in education and to take the necessary steps to mitigate any negative impact. The results of this study present a critical concern in higher education in Vietnam, where AI systems may be used to make important decisions about students’ learning and academic progress. The authors of this study attempt to make some recommendation that the AI-system in higher education system is frequently checked by a human in charge to verify that everything is working as it should or if the system needs some retraining or adjustments.

Keywords: artificial intelligence, ethics, challenges, vietnam

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Authors: Henry Kelly, Helena Shaw

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This paper will seek how innovative methods from Health Economics and, to a lesser extent, wellbeing analysis can be applied in the Cost-Benefit Analysis (CBA) of transport infrastructure and policy interventions. The context for this will focus on the framework articulated by the UK Treasury (finance department) and the English Department for Transport. Both have well-established methods for undertaking CBA, but there is increased policy interest, particularly at a regional level of exploring broader strategic goals beyond those traditionally associated with transport user benefits, productivity gains, and labour market access. Links to different CBA approaches internationally, such as New Zealand, France, and Wales will be referenced. By exploring a complementary method of accessing the impacts of policies through the quantification of health impacts is a fruitful line to explore. In a previous piece of work, 14 impact pathways were identified, mapping the relationship between transport and health. These are wide-ranging, from improved employment prospects, the stress of unreliable journey times, and air quality to isolation and loneliness. Importantly, we will consider these different measures of health from an intersectional point of view to ensure that the basis that remains in the health industry does not get translated across to this work. The objective is to explore how a CBA based on these pathways may, through quantifying forecast impacts in terms of Quality-Adjusted Life Years may, produce different findings than a standard approach. Of particular interest is how a health-based approach may have different distributional impacts on socio-economic groups and may favour distinct types of interventions. Consideration will be given to the degree this approach may double-count impacts or if it is possible to identify additional benefits to the established CBA approach. The investigation will explore a range of schemes, from a high-speed rail link, highway improvements, rural mobility hubs, and coach services to cycle lanes. The conclusions should aid the progression of methods concerning the assessment of publicly funded infrastructure projects.

Keywords: cost-benefit analysis, health, QALYs transport

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Authors: Collence Takaingenhamo Chisita, Munyaradzi Shoko

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Library and Information Science Schools play significant roles in socio–economic transformation but in most cases they are downplayed or overshadowed by other institutions, and professions. Currently Zimbabwe boasts of high literacy rate in Africa and this success would have been impossible without the contributions of library schools and related institutions. Libraries and librarians are at the epicentre of socio-economic development and their role cannot be downplayed. It is out of this context that the writer will explore the extent to which library schools are contributing towards socio-economic transformation, for example, human capital development and facilitating access to information. The writer will seek to explain and clarify how LIS schools are engaged in socio-economic transformation through supporting education and culture through community engagement. The paper will examine the LIS education models, for example, general education and Technical Vocational Education and Training (TVET) or Competency Based Education and Training (CBET). It will also seek to find out how LIS Schools are contributing to the information/knowledge economy through education, training and research. The writer will also seek to find out how LIS Education is responding to socio-economic and political dynamics in Zimbabwe amidst forces of globalisation and cultural identities. Furthermore, the writer will explore the extent to which LIS education can help to reposition Zimbabwe in the global knowledge economy. The author will examine how LIS schools integrate culture and technology.

Keywords: development, information/knowledge economy, culture, empowerment, collaboration, globalisation

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Authors: George Cudjoe Agbemabiese, John Paul Kosiba, Michael Boadi Nyamekye, Vanessa Narkie Tetteh, Caleb Nunoo, Mohammed Muniru Husseini

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The smartphone industry continues to experience massive growth, evidenced by expanding markets and an increasing number of brands, models and manufacturers. As technology advances rapidly, manufacturers of smartphones are consistently introducing new innovations to keep up with the latest evolving industry trends and customer demand for more modern devices. This study aimed to assess the influence of artificial intelligence (AI) voice assistant (VA) on improving customer experience, resulting in the continuous use of mobile brands. Specifically, this article assesses the role of hedonic, utilitarian, and social benefits provided by AIVA on customer experience and the continuance intention to use mobile phone brands. Using a primary data collection instrument, the quantitative approach was adopted to examine the study's variables. Data from 348 valid responses were used for the analysis based on structural equation modeling (SEM) with AMOS version 23. Three main factors were identified to influence customer experience, which results in continuous usage of mobile phone brands. These factors are social benefits, hedonic benefits, and utilitarian benefits. In conclusion, a significant and positive relationship exists between the factors influencing customer experience for continuous usage of mobile phone brands. The study concludes that mobile brands that invest in delivering positive user experiences are in a better position to improve usage and increase preference for their brands. The study recommends that mobile brands consider and research their prospects' and customers' social, hedonic, and utilitarian needs to provide them with desired products and experiences.

Keywords: artificial intelligence, continuance usage, customer experience, smartphone industry

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Authors: Kristine Demilou Santiago

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In a context of a developing nation, how important is the role of Corporate Social Responsibility health programs? Is there a possibility that this will render a large impact in a society where health benefits are insufficient? The Philippine government has been in an unceasing battle to provide its citizens competitive health benefits through launching various health programs. As the efforts are being claimed by the government, the numbers just show that all the health benefits being offered such as PhilHealth health cards, medical missions and other subsidized government health benefits are not effective and sufficient at the minimum level. This is a major characteristic of a developing nation which the Philippine government is focusing on addressing as it becomes a national concern under the effects of poverty. Industrial companies, through Corporate Social Responsibility, are playing an important role in the aspiration to resolve this problem on health programs as supposed to be basic services to citizens of the Philippine government. The rise of commitment by these industrial companies to render health programs to communities as part of their corporate citizenship has covered a large portion of the basic health services that the Filipino citizens are supposed to be receiving. This is the most salient subject that a developing nation should focus on determining the important contribution of industrial companies present in their country as part of the citizens’ access to basic health services. The use of survey forms containing quantitative and qualitative questions which aim to give numerical figures and support answers as to the role of CSR Health programs in helping the communities receive the basic health services they need was the methodological procedure followed in this research. A sample population in a community where the largest industrial company in a province of the Philippines was taken through simple random sampling. The assumption is that this sample population which represents the whole of the community has the highest opportunities to access both the government health services and the CSR health program services of the industrial company located in their community. Results of the research have shown a significant level of participation by industrial companies through their CSR health programs in the attainment of basic health services that should be rendered by the Philippine government to its citizens as part of the state’s health benefits. In a context of a developing nation such as the Philippines, the role of Corporate Social Responsibility is beyond the expectation of initiating to resolve environmental and social issues. It is moving deeper in the concept of the corporate industries being a pillar of the government in catering the support needed by the individuals in the community for its development. As such, the concept of the presence of an industrial company in a community is said to be a parallel progress: by which when an industrial company expands because it is becoming more profitable, so is the community gaining the same step of progress in terms of socioeconomic development.

Keywords: basic health services, CSR health program, health services in a developing nation, Philippines health benefits

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Authors: Eyasu Markos Woldesemayat, Paolo Vincenzo Genovese

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In recent years with an increase in the concentration of Green House Gases (GHG), Climate Change (CC) externalities are mounting, regardless of governments, are scrambling to implement mitigation and adaptation measures. With multiple social, economic and environmental benefits, Green Infrastructure (GI) has evolved as a highly valuable policy tool to promote sustainable development and smart growth by meeting multiple objectives towards quality of life. However, despite the wide range of benefits, it's uptake in African cities such as Addis Ababa is very low due to several constraining factors. This study, through content analysis and key informant interviews, examined barriers for the uptake of GI among spatial planners in Addis Ababa. Added to this, the study has revealed that the spatial planners had insufficient knowledge about GI planning principles such as multi-functionality, integration, and connectivity, and multiscale. The practice of implementing these holistic principles in urban spatial planning is phenomenally nonexistent. The findings also revealed 20 barriers categorized under four themes, i.e., institutional, socio-cultural, resource, and cognitive barriers. Similarly, it was identified that institutional barriers (0.756), socio-cultural barriers (0.730), cognitive barriers (0.700) and resource barriers (0.642), respectively, are the foremost impending factors for the promotion of GI in Addis Ababa. It was realized that resource barriers were the least constraining factor for enshrining the GI uptake in the city. Strategies to hasten the adoption of GI in the city mainly focus on improving political will, harmonization sectorial plans, improve spatial planning and implementation practice, prioritization of GI in all planning activities, enforcement of environmental laws, introducing collaborative GI governance, creating strong and stable institutions and raising awareness on the need to conserve environment and CC externalities through education and outreach mechanisms.

Keywords: Addis Ababa, climate change, green infrastructure, spatial planning, spatial planners

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Authors: Rafael Vicente Salar

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

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

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Authors: Tanusha Raniga, Michael Boecker, Maud Mthembu

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This paper considers the formal employment sector, human capacity development and economic capital of single-mother households’ as they strive to sustain livelihoods. This paper advances empirical data in the field of economic and social development policy. The correlation between educational level, human capacity development and economic self-reliance of single-mother households is considered. This paper presents empirical evidence obtained from qualitative in-depth interviews conducted with twenty-five single mothers who were working in the formal work sector in Hagen, Germany and two provinces, namely KwaZulu-Natal and Gauteng in South Africa. This is an underexplored research area as most of the international literature focuses on pathology and victimhood related to single-mother households. Instead, this paper presents the biographic profiles and discusses two key themes that emerged from the data analysis namely; formal and informal streams of income enhanced human capital development through access to further education and training opportunities. The women perceived these themes as facilitating factors which helped them sustain their households. The paper presents some suggestions for policymakers and social work practitioners to consider to improve support systems and avoid economic exclusion of single mothers who work within the first economy.

Keywords: single mothers, formal work sector, economic capital, human capital

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Authors: Kyungeun Sung

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Upcycling is a process in which used materials are converted into something of higher value and/or quality in their second life. It has been increasingly recognised as one promising means to reduce material and energy use and also to engender sustainable production and consumption. For this reason and other foreseeable benefits, the concept of upcycling has received more attention from numerous researchers and business practitioners in recent years. This has been seen in the growing number of publications on this topic since the 1990s. However, the overall volume of literature dealing with upcycling is still low and no major review has been presented. Therefore, in order to further establish this field, this paper analyses and summarises the current body of literature on upcycling, focusing on different definitions, trends in practices, benefits, drawbacks and barriers in a number of subject areas and gives suggestions for future research by illuminating knowledge gaps in the area of upcycling.

Keywords: circular economy, cradle to cradle, sustainable production and consumption, upcycling, waste management

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Authors: Shagufta Jahangir, Raisa Jahangir

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According to researches the 3rd world youth crave to go to developed countries just merely to get sustainable economic situation. To accomplish their wish they use each and every thing like cross boarder marriages is one of them. The basic and main point of cross boarder marriages is financial sustainability neither cross boarder culture nor cross boarder religion or others. The consequences of this research are that 60% to 70% men of 3rd world do cross boarder marriages just for only economic firmness. Due to this thoughts these men flipside to their native areas with only economic firmness rather social attitudes, moral attitudes behaviors, norms, myths and religion.40% to 50 % men do cross boarder marriages to get firmness even they have families in their native areas.2nd family formation is the easy way to get their desired, according to their eyes. After satisfying their needs they back unaccompanied to their native areas even they leave their offspring. They give precedence to their inhabitant families. This study has been design to find out that economic perspective is the basic phenomena of cross boarder marriages in the 3rd world countries men.

Keywords: cross boarder marriages, moral attitudes, native areas, flipside, norms

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Authors: Halit Turan, Mehmet Ozturk, Serdal Akyuz

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General Framework Agreement for Peace (Dayton Peace Agreement) in Bosnia and Herzegovina (GFAP), is one of the most challenging issues in the contemporary peace studies scholarship. It is clear that this agreement has created an exceptional state structure which Bosnia and Herzegovina has still executed for 20 years. The agreement, signed reluctantly by warring sides to end war, has carried out reaching the present day. Demonstrations held by unemployed people in the early of 2014 can be seen as a symptom of discontent about low economic wealth level which is a clear consequence of agreement. This paper lays out the influences of problems stemmed from the agreement to the future of country especially in terms of economic issues.

Keywords: Bosnia and Herzegovina, dayton peace agreement, economic problems, social discontent

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Authors: Abdelhalem Shahen

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The world is now experiencing a digital revolution and greatly accelerated technological developments, in addition to the transition from the economy in its traditional form to the digital economy, which has resulted in the emergence of new tools that are appropriate to those developments, and from this, this paper attempts to explore the economic characteristics of the bitcoin currency that circulated recently. Due to the many advantages that distinguish it from money in its traditional forms, which have a range of economic effects. The study found that Bitcoin is among the technological innovations, which contain a set of characteristics that are worth studying, those that make it the focus of attention, such as the digital currency, the peer-to-peer property, Lower and Faster Transaction Costs, transparency, decentralized control, privacy, and Double-Spending, as well as security and Cryptographic, and finally mining.

Keywords: Digital Economics, Digital Currencies, Bitcoin, Features of Bitcoin

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Authors: Sabrina Mortet

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The economic crisis, which struck the world economy in mid-2008, had an impact on migration in Europe, especially the employment situation of migrant workers. That’s why migrants tended to be the first to lose their jobs during the crisis, victims of the rule "last–in, first-out”. In the same context, the economic recession which affected the migration flows, immigration level has slowed while emigration has increased in some European countries. Since people go where jobs are, we will try to speak about the mobility of migrants after the crisis by focusing on return migration to see if migrants in the period of recession prefer going home or staying in the host country; and we will take Spain as a case of study, because it had attracted an extraordinarily high inflows of migration and it is one of the EU country which was hardly affected by the financial crisis.

Keywords: economic crisis, international migration, mobility, return migration, employement

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Authors: Baqir Khawari

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Migration has a long history in Afghanistan even before, but it has been exacerbated in the last decade. Using actual household data of 1060 in Mazar-i-Sharif, the capital of Balkh province, obtained from a strictly random process, the study examined to evaluate the main causes and benefits of the migration. It is found that the main reasons for internal migration are unemployment and income inequality, in addition to war and poverty as international parameters for migration. Furthermore, the study demonstrated that households receive benefits from their migrants through remittances to increase their income and smooth consumption. Thus, the study suggests that to manage migration in Afghanistan, the government and international organizations should work together for peace and reduction of poverty in Afghanistan otherwise, the crisis of migration will continue in the future as well.

Keywords: migration, remittances, socio-demographic, household, Afghanistan

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Authors: Caroline S. Dutra, Tatiana C. Squeff

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It is well known that the history between South Korea and Japan influences their international relations; thus, also encompassing their economic relations. In this sense, it is impossible to analyze the latter without understanding the development of the former, which is known for episodes of hostility, like on Japanese colonization, but also had moments of cultural and trade interexchange. Indeed, since 1965, with the establishment of diplomatic relations between both countries, their trade relations have improved, especially after both nations have signed the General Agreement on Tariffs and Trade (GATT). Thereafter, with the establishment of the World Trade Organization (WTO) in 1995, another chapter of their diplomatic and economic relations have been inaugurated. Hence, bearing in mind this history between both nations, this research intends to examine their relations through the analysis of the WTO panels they have engaged in between each other, which are, in chronological order, “DS323: Japan – Import Quotas on Dried Laver and Seasoned Laver”, “DS336: Japan - Countervailing Duties on Dynamic Random Access Memories from Korea”, “DS495: Korea - Import Band, and Testing and Certification Requirements for Radionuclides”, “DS553: Korea - Sunset Review of Anti-Dumping Duties on Stainless Steel Bars” and “DS571: Korea - Measures Affecting Trade in Commercial Vessels”. The objective of this case analysis is to point out what are the areas that are more conflictual between Japan and South Korea in regard to their economic relations so that it is possible to assert on their future (economic) relations and other possible outcomes. And in order to do so, bibliographic and documental research will be made, particularly those involving the WTO and the nations under consideration. Regarding the methods used, it is important to highlight that this is applied research in the field of international economic relations and international law, which follows a hypothetic-deductive model.

Keywords: international economic relations, Japan, South Korea, World Trade Organization

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Authors: Kulwinder Singh

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Punjab is one of the major labour exporting states of India. Every year more than 20,000 youths from Punjab attempt irregular migration. About 84 irregular migrants are from rural areas and 16 per cent from urban areas. Irregular migration could only be achieved if be organized through highly efficient international networks with the countries of origin, transit, and destination. A good number of Punjabis continue to immigrate into the UK for work through unauthorized means entering the country on visit visas and overstaying or getting ‘smuggled into’ the country with the help of transnational networks of agents. Although, the efforts are being made by the government to curb irregular migration through The Punjab Prevention of Human Smuggling Rules (2012, 2014) and Punjab Travel Regulation Act (2012), but yet it exists parallel to regular migration. Despite unprecedented miseries of irregular migrants and strict laws implemented by the state government to check this phenomenon, ‘why do Punjabis migrate abroad irregularly’ is the important question to answer. This study addresses this question through the comparison of irregular migration with regular one. In other words, this analysis reveals major causes, specifically economic ones, of irregular migration from rural Punjab. This study is unique by presenting economics of irregular migration, given previous studies emphasize the role of sociological and psychological factors. Addressing important question “why do Punjabis migrate abroad irregularly?”, the present study reveals that Punjabi, being far-sighted, endeavor irregular migration as it is, though, economically nonviable in short run, but offers lucrative economic gains as gets older. Despite its considerably higher cost viz-a-viz regular migration, it is the better employment option to irregular migrants with higher permanent income than local low paid jobs for which risking life has become the mindset of the rural Punjabis. Although, it carries considerably lower economic benefits as compared to regular migration, but provides the opportunity of migrating abroad to less educated, semi-skilled and language-test ineligible Punjabis who cannot migrate through regular channels. As its positive impacts on source and destination countries are evident, it might not be restricted, rather its effective management, through liberalising restrictive migration policies by destination nations, can protect the interests of all involved stakeholders.

Keywords: cost, migration, income, irregular, regular, remittances

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Authors: Aawag Mohsen Al-Awag, Wesam Salah Alaloul, M. S. Liew

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Industrialized building system (IBS) is a method of construction with concentrated practices consisting of techniques, products, and a set of linked elements which operate collectively to accomplish objectives. The Industrialised Building System (IBS) has been recognised as a viable method for improving overall construction performance in terms of quality, cost, safety and health, waste reduction, and productivity. The Malaysian construction industry is considered one of the contributors to the development of the country. The acceptance level of IBS is still below government expectations. Thus, the Malaysian government has been continuously encouraging the industry to use and implement IBS. Conventional systems have several drawbacks, including project delays, low economic efficiency, excess inventory, and poor product quality. When it comes to implementing IBS, construction companies still face several obstacles and problems, notably in terms of contractual and procurement concerns, which leads to the low adoption of IBS in Malaysia. There are barriers to the acceptance of IBS technology, focused on awareness of historical failure and risks connected to IBS practices to provide enhanced performance. Therefore, the transformation from the existing conventional building systems to the industrialized building systems (IBS) is needed more than ever. The flexibility of IBS in Malaysia’s construction industry is very low due to numerous shortcomings and obstacles. Due to its environmental, economic, and social benefits, IBS could play a significant role in the Malaysian construction industry in the future. This paper concentrates on the potential role of IBS in sustainable construction practices in Malaysia. It also highlights the awareness, barriers, advantages, and disadvantages of IBS in the construction sector. The study concludes with recommendations for Malaysian construction stakeholders to encourage and increase the utilization of industrialised building systems.

Keywords: construction industry, industrialized building system, barriers, advantages and disadvantages, construction, sustainability, Malaysia

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Authors: I. Majerová, M. Horúcková

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The concept of competitiveness is currently very frequently used term. However, the interpretation of its essence is different. In this paper, one of the many concepts of competitiveness will be analyzed and that is macroeconomic competitiveness, which is understood as a process, which is based on the productivity growth through the growth of key macroeconomic indicators such as standards of living and employment, where all of these variables must have a sustainable basis. Given the competition is a relative quantity it must be constantly compared with the development of competitiveness in other economies or regions. And this comparison method is also used in the article that compares the macro-competitiveness of selected economies of the European Economic Area – the Czech Republic, Poland, Austria, Switzerland and Germany. The aim of the paper is to verify the hypothesis concerning the direct correlation between the size of the economy and its competitiveness.

Keywords: comparison, competitiveness, European economic area, global competitiveness index, immeasurable indicators of competitiveness, macro-competitiveness

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Authors: Kimberly Samaha

Abstract:

In order to attract new types of investors into the emerging Bio-Economy, new methodologies to analyze investment risk are needed. The Bio-Hub Ecosystem model was developed to address a critical area of concern within the global energy market regarding the use of biomass as a feedstock for power plants. This study looked at repurposing existing biomass-energy plants into Circular Zero-Waste Bio-Hub Ecosystems. A Bio-Hub model that first targets a ‘whole-tree’ approach and then looks at the circular economics of co-hosting diverse industries (wood processing, aquaculture, agriculture) in the vicinity of the Biomass Power Plants facilities. This study modeled the economics and risk strategies of cradle-to-cradle linkages to incorporate the value-chain effects on capital/operational expenditures and investment risk reductions using a proprietary techno-economic model that incorporates investment risk scenarios utilizing the Monte Carlo methodology. The study calculated the sequential increases in profitability for each additional co-host on an operating forestry-based biomass energy plant in West Enfield, Maine. Phase I starts with the base-line of forestry biomass to electricity only and was built up in stages to include co-hosts of a greenhouse and a land-based shrimp farm. Phase I incorporates CO2 and heat waste streams from the operating power plant in an analysis of lowering and stabilizing the operating costs of the agriculture and aquaculture co-hosts. Phase II analysis incorporated a jet-fuel biorefinery and its secondary slip-stream of biochar which would be developed into two additional bio-products: 1) A soil amendment compost for agriculture and 2) A biochar effluent filter for the aquaculture. The second part of the study applied the Monte Carlo risk methodology to illustrate how co-location derisks investment in an integrated Bio-Hub versus individual investments in stand-alone projects of energy, agriculture or aquaculture. The analyzed scenarios compared reductions in both Capital and Operating Expenditures, which stabilizes profits and reduces the investment risk associated with projects in energy, agriculture, and aquaculture. The major findings of this techno-economic modeling using the Monte Carlo technique resulted in the masterplan for the first Bio-Hub to be built in West Enfield, Maine. In 2018, the site was designated as an economic opportunity zone as part of a Federal Program, which allows for Capital Gains tax benefits for investments on the site. Bioenergy facilities are currently at a critical juncture where they have an opportunity to be repurposed into efficient, profitable and socially responsible investments, or be idled and scrapped. The Bio-hub Ecosystems techno-economic analysis model is a critical model to expedite new standards for investments in circular zero-waste projects. Profitable projects will expedite adoption and advance the critical transition from the current ‘take-make-dispose’ paradigm inherent in the energy, forestry and food industries to a more sustainable Bio-Economy paradigm that supports local and rural communities.

Keywords: bio-economy, investment risk, circular design, economic modelling

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Authors: Jayshree Patnaik, Bhaskar Bhowmick

Abstract:

The economic growth of any nation is steered and dependent on innovation in technology. It can be preferably argued that technology has enhanced the quality of life. Technology is linked both with an economic and a social structure. But there are some parts of the world or communities which are yet to reap the benefits of technological innovation. Business and organizations are now well equipped with cutting-edge innovations that improve the firm performance and provide them with a competitive edge, but rarely does it have a positive impact on any community which is weak and marginalized. In recent times, it is observed that communities are actively handling social or ecological issues with the help of indigenous technologies. Thus, "Appropriate Technology" comes into the discussion, which is quite prevalent in the rural third world. Appropriate technology grew as a movement in the mid-1970s during the energy crisis, but it lost its stance in the following years when people started it to describe it as an inferior technology or dead technology. Basically, there is no such technology which is inferior or sophisticated for a particular region. The relevance of appropriate technology lies in penetrating technology into a larger and weaker section of community where the “Bottom of the pyramid” can pay for technology if they find the price is affordable. This is a theoretical paper which primarily revolves around how appropriate technology has faded and again evolved in both developed and developing countries. The paper will try to focus on the various concepts, history and challenges faced by the appropriate technology over the years. Appropriate technology follows a documented approach but lags in overall design and diffusion. Diffusion of technology into the poorer sections of community remains unanswered until the present time. Appropriate technology is multi-disciplinary in nature; therefore, this openness allows having a varied working model for different problems. Appropriate technology is a friendly technology that seeks to improve the lives of people in a constraint environment by providing an affordable and sustainable solution. Appropriate technology needs to be defined in the era of modern technological advancement for sustainability.

Keywords: appropriate technology, community, developing country, sustainability

Procedia PDF Downloads 262

Authors: Dharshini M., Hema N. S.

Abstract:

The project for the production of aniline is done by providing 295.46 tons per day of nitrobenzene as feed. The material and energy balance calculations for the different equipment like distillation column, heat exchangers, reactor and mixer are carried out with simulation via DWSIM. The conversion of nitrobenzene to aniline by hydrogenation process is considered to be 96% and the total production of the plant was found to be 215 TPD. The cost estimation of the process is carried out to estimate the feasibility of the plant. The net profit and percentage return of investment is estimated to be ₹27 crores and 24.6%. The payback period was estimated to be 4.05 years and the unit production cost is ₹113/kg. A techno-economic analysis was performed for the production of aniline; the result includes economic analysis and sensitivity analysis of critical factors. From economic analysis, larger the plant scale increases the total capital investment and annual operating cost, even though the unit production cost decreases. Uncertainty analysis was performed to predict the influence of economic factors on profitability and the scenario analysis is one way to quantify uncertainty. In scenario analysis the best-case scenario and the worst-case scenario are compared with the base case scenario. The best-case scenario was found at a feed rate of 120 kmol/hr with a unit production cost of ₹112.05/kg and the worst-case scenario was found at a feed rate of 60 kmol/hr with a unit production cost of ₹115.9/kg. The base case is closely related to the best case by 99.2% in terms of unit production cost. since the unit production cost is less and the profitability is more with less payback time, it is feasible to construct a plant at this capacity.

Keywords: aniline, nitrobenzene, economic analysis, unit production cost

Procedia PDF Downloads 109

Authors: Kittivate Boonyopakorn

Abstract:

The purposes of this study were to investigate the method of the English use of the businessmen and to study their behavior of the utilization for the ASEAN economic community. The participants were divided into the three types of the merchants including the construction contractors, the construction material traders, and SME entrepreneurs. Survey questionnaires and interviews were used in this study. The findings showed that in the type of traders, 23 of the participants are construction contractors, 121 are construction material traders, and 206 are SME entrepreneurs. The study of English in language institute is highly 51.4%. The use of Google in translating English into Thai is 41.7%. Learning English themselves is 41.1% respectively. The businessmen study English for readiness for their trade.

Keywords: way of rnglish use, businessmen, ASEAN economic community, Chonburi province

Procedia PDF Downloads 243