Search results for: sharing economy

Authors: Joy Olayemi Gbala, Fatai Olatokunbo, Philip Cloud

Abstract:

Catastrophic dictatorship has been discovered to be the major leadership challenge that orchestrates stagnated and contrasted economy with dysfunctional democracy in Africa through willful misappropriation of resources and egregious subversion of the rule of law. Almost invariably, most African leaders inexplicably often become power drunk and addicted which usually leads to abuse of state power, abdication of constitutional duties, unjustly withdrawal of business license of operation, human right violation, election malpractices, financial corruption, disruptions of policies of democratic government transition, annulment of free and fair election, and disruptions of legal electoral procedures and unachievable dividends of democracy and many more. Owing to this, most African nations have gone and still go through political unrest and insurgencies leading to loss of lives and property, violent protests, detention of detractors and political activists and massive human displacement. This research work is concerned with, and investigates the causes, menace, consequences and impacts of subverting the rule of law in Africa on the economy and the development of the continent with a suggested practical solution to the plights.

Keywords: corruption, law, leadership, violation

Procedia PDF Downloads 134

Authors: Joanna Konstantinou

Abstract:

The study is about the challenges faced by entrepreneurs in a crisis context and in turbulent economies. The scope is to determine which factors, if any, are related to the success of a new business venture, such as innovation, access to funding and capital, enhanced digital skills, employment relations and organizational culture as well as a company’s strategic orientation towards international markets. The crisis context has been recorded to have affected the number of SMEs in the Greek economy, the number of people employed as well as the volume of the output produced. Although not all SMEs have been equally impacted by the crisis, which has been identified to affect certain sectors more than others, and although research is not exhaustive in that end, employment relations and patterns, firm’s age, and innovation practices in relation to employees’ learning curve seem to have a positive correlation with the successful survival and resilience of the firm. The aim is to identify important factors that can contribute positively to the success of a startup business, and that will allow businesses to acquire resilience and survive economic adversities, and it will focus on businesses of the Greek economy, the country with the longer lasting economic crisis and the findings will be lessons to learn for other economies.

Keywords: entrepreneurship, innovation, crisis, challenges

Procedia PDF Downloads 215

Authors: H. Parveen Begam, M. A. Maluk Mohamed

Abstract:

Mobile Grid Computing is an environment that allows sharing and coordinated use of diverse resources in dynamic, heterogeneous and distributed environment using different types of electronic portable devices. In a grid environment the security issues are like authentication, authorization, message protection and delegation handled by GSI (Grid Security Infrastructure). Proving better security between mobile devices and grid infrastructure is a major issue, because of the open nature of wireless networks, heterogeneous and distributed environments. In a mobile grid environment, the individual computing devices may be resource-limited in isolation, as an aggregated sum, they have the potential to play a vital role within the mobile grid environment. Some adaptive methodology or solution is needed to solve the issues like authentication of a base station, security of information flowing between a mobile user and a base station, prevention of attacks within a base station, hand-over of authentication information, communication cost of establishing a session key between mobile user and base station, computing complexity of achieving authenticity and security. The sharing of resources of the devices can be achieved only through the trusted relationships between the mobile hosts (MHs). Before accessing the grid service, the mobile devices should be proven authentic. This paper proposes the dynamic certificate based mutual authentication protocol between two mobile hosts in a mobile grid environment. The certificate generation process is done by CA (Certificate Authority) for all the authenticated MHs. Security (because of validity period of the certificate) and dynamicity (transmission time) can be achieved through the secure service certificates. Authentication protocol is built on communication services to provide cryptographically secured mechanisms for verifying the identity of users and resources.

Keywords: mobile grid computing, certificate authority (CA), SSL/TLS protocol, secured service certificates

Procedia PDF Downloads 287

Authors: Reeden Bicomong

Abstract:

Ecotourism activities, though geared towards conservation efforts, still put pressures against the natural state of the environment. Influx of visitors that goes beyond carrying capacity of the ecotourism site, the wastes generated, greenhouse gas emissions, are just few of the potential negative impacts of a not well-managed ecotourism activities. According to Girard and Nocca (2017) tourism produces many negative impacts because it is configured according to the model of linear economy, operating on a linear model of take, make and dispose (Ellen MacArthur Foundation 2015). With the influx of tourists in an ecotourism area, more wastes are generated, and if unregulated, natural state of the environment will be at risk. It is in this light that a study on waste analysis and classification study in five different ecotourism sites of Samal Island, Philippines was conducted. The major objective of the study was to analyze the amount and content of wastes generated from ecotourism sites in Samal Island, Philippines and make recommendations based on the circular economy perspective. Five ecotourism sites in Samal Island, Philippines was identified such as Hagimit Falls, Sanipaan Vanishing Shoal, Taklobo Giant Clams, Monfort Bat Cave, and Tagbaobo Community Based Ecotourism. Ocular inspection of each ecotourism site was conducted. Likewise, key informant interview of ecotourism operators and staff was done. Wastes generated from these ecotourism sites were analyzed and characterized to come up with recommendations that are based on the concept of circular economy. Wastes generated were classified into biodegradables, recyclables, residuals and special wastes. Regression analysis was conducted to determine if increase in number of visitors would equate to increase in the amount of wastes generated. Ocular inspection indicated that all of the five ecotourism sites have their own system of waste collection. All of the sites inspected were found to be conducting waste separation at source since there are different types of garbage bins for all of the four classification of wastes such as biodegradables, recyclables, residuals and special wastes. Furthermore, all five ecotourism sites practice composting of biodegradable wastes and recycling of recyclables. Therefore, only residuals are being collected by the municipal waste collectors. Key informant interview revealed that all five ecotourism sites offer mostly nature based activities such as swimming, diving, site seeing, bat watching, rice farming experiences and community living. Among the five ecotourism sites, Sanipaan Vanishing Shoal has the highest average number of visitors in a weekly basis. At the same time, in the wastes assessment study conducted, Sanipaan has the highest amount of wastes generated. Further results of wastes analysis revealed that biodegradables constitute majority of the wastes generated in all of the five selected ecotourism sites. Meanwhile, special wastes proved to be the least generated as there was no amount of this type was observed during the three consecutive weeks WACS was conducted.

Keywords: Circular economy, ecotourism, sustainable development, WACS

Procedia PDF Downloads 194

Authors: Jayakrishnan U.

Abstract:

A concept of adding two strokes to a four stroke Otto or Diesel engine cycle presented here for the waste heat recovery in a four stroke internal combustion engine. Four stroke Diesel cycle and Otto cycle engines have very low thermal efficiency due to high amount of energy loss in exhaust and also on the cooling of the engine. It is estimated about 35 percent of fuel energy is lost in exhaust of engine and 30 percent in cooling of engine. So by modifying a four-stroke Otto or Diesel engine by adding two-stroke heat recovery steam cycle is presented here. Water injection is used to get an additional power stroke by partial compression of the exhaust gases at the end of third stroke in a four stroke I.C.Engine. It is the conversion of a four-stroke cycle to a six-stroke cycle. By taking a four stroke petrol engine of known dimensions, an ideal thermodynamic model is used to analyse and calculate the events of exhaust gas compression and following two strokes of water injection. By changing the exhaust valve closing timing during exhaust stroke and analysing it on various points, an optimum amount of exhaust gas re-compression and amount of water injection can be found for maximizing efficiency and fuel economy. It is achieved by changing the exhaust valve timing and finding an optimum amount of exhaust re-compression, maximizing the net mean effective pressure of the steam expansion stroke (MEPsteam). Specific fuel consumption of the engine also decreases increasing the fuel economy. The valve closing timings for maximum MEPsteam is limited by either 1 bar or dew point temperature of expansion gas or moisture mixture to avoid moisture formation. By modifying the four-stroke Otto or Diesel cycle by adding two water injection stroke has the potential to significantly increase the engine efficiency and fuel economy.

Keywords: internal combustion engine, engine efficiency, six-stroke cycle, water injection, specific fuel consumption

Procedia PDF Downloads 282

Authors: Gunnar Oskarsson, Gudjon Helgi Egilsson

Abstract:

Due to globalization, small and medium-sized enterprises (SME) increasingly offer their products and services in foreign markets. The main reasons are either to compensate for a decreased market share in their home market or to exploit opportunities in foreign markets, which are becoming less distant and better accessible than before. International markets are particularly important for companies located in a small economy and offering specialized products. Although more accessible, entering international markets is both expensive and difficult. In order to select the most appropriate markets, it is, therefore, important to gain an insight into the factors that have an impact on success, or potential failure. Although there has been a reasonable volume of research into the theory of internationalization, there is still a need to gain further understanding of the decision-making process of SMEs in small economies and the most important characteristics that distinguish between success and failure. The main objective of this research is to enhance knowledge on the internationalization of SMEs, including the drivers for the decision to internationalize, and the most important factors contributing to success in their internationalization activities. A qualitative approach was found to be most appropriate for this kind of research, with the objective of gaining a deeper understanding and discovering factors which impact a company’s decision-making and potential success. In-depth interviews were conducted with 14 companies in different industries located in Iceland, a country extensively dependent on export revenues. The interviews revealed several factors as drivers of internationalization and, not surprisingly, the most frequently mentioned source of motivation was that the local market is inadequate to maintain a sustainable operation. Good networking relationships were seen as a particular priority for potential success, searching for new markets was mainly carried out through the internet, although sales exhibitions and sales trips were also considered important. When it comes to the final decision as to whether a market should be considered for further analysis, economy, labor cost, legal environment, and cultural barriers were the most common factors to be weighted. The ultimate answer to successful internationalization, however, is largely dependent on a coordinated and experienced management team. The main contribution of this research is offering an insight into factors affecting decision-making in the internationalization process of SMEs, based on the opinion and experience of managers of SMEs in a small economy.

Keywords: internationalization, success factors, small and medium-sized enterprises (SMEs), drivers, decision making

Procedia PDF Downloads 222

Authors: A. Bahar Ganiyeva, M. Sabuhi Tanriverdiyev

Abstract:

The article analyzes state support and policy mechanisms aimed at driving tourism as one of the vibrant and rapidly developing economies. State programs and long-range strategic roadmaps and previous programs execution, results and their impact on the particular countries economy have been raised during the research. This theme provides a useful framework for discussions with a wider range of stakeholders as the implications arising are of importance both for academics and practitioners engaged in hospitality and tourism development and research. The impact that tourism has on sustainable regional development in emerging markets is highly substantial. For Azerbaijan, Turkey, Georgia, and Russia, with their rich natural resources and cultural heritage, tourism can be an important basis for economic expansion, and a way to form an acceptable image of the countries as safe, open, hospitable, and complex.

Keywords: Sustainable tourism, hospitality, destination, strategic roadmap, tourism, economy, growth, state support, mechanism, policy formation, state program

Procedia PDF Downloads 135

Authors: Sabry A. El Azazy

Abstract:

Tourism plays an essential role in supporting the National Economy. Egypt was ranked as one of the most attractive touristic destinations worldwide. Tourism as a service sector affects political events and unstable conditions. Within the revolution of January 25th, 2011, tourism became below standards, and the archeological heritage sites were subject to threat. Because of the political tension and social instability, Egypt's tourism sector has drastically dropped. Currently, Egypt is working on overcoming the crisis caused by political unrest. However, it is expected to take a long time to get back to where it was, especially in terms of regaining the confidence of travelers in the country's ability to guarantee and maintain security and stability. Recently, many great projects have been done, such as; New Administrative Cairo Capital, New Suez Canal logistic project, New City of Al Alamin, New Grand Egyptian Museum, as well as other great projects that reflect positively on the tourism industry and archaeological heritage development in Egypt.

Keywords: archaeology, archaeological heritage, attractions, national economy, political events, touristic destinations, tourism industry

Procedia PDF Downloads 149

Authors: Nathaniel Oladimeji Dixon, Adekemi Dorcas Fadun

Abstract:

Educational managers have observed a downward trend in the administrative effectiveness of non-teaching staff in federal universities in South-west Nigeria. This is evident in the low-quality service delivery of administrators and unaccomplished institutional goals and missions of higher education. Scholars have thus indicated the need for the deployment and adoption of a practice that encourages information collection and sharing among stakeholders with a view to improving service delivery and outcomes. This study examined the extent to which knowledge management correlated with the administrative effectiveness of non-teaching staff in federal universities in South-west Nigeria. The study adopted the survey design. Three federal universities (the University of Ibadan, Federal University of Agriculture, Abeokuta, and Obafemi Awolowo University) were purposively selected because administrative ineffectiveness was more pronounced among non-teaching staff in government-owned universities, and these federal universities were long established. The proportional and stratified random sampling was adopted to select 1156 non-teaching staff across the three universities along the three existing layers of the non-teaching staff: secretarial (senior=311; junior=224), non-secretarial (senior=147; junior=241) and technicians (senior=130; junior=103). Knowledge Management Practices Questionnaire with four sub-scales: knowledge creation (α=0.72), knowledge utilization (α=0.76), knowledge sharing (α=0.79) and knowledge transfer (α=0.83); and Administrative Effectiveness Questionnaire with four sub-scales: communication (α=0.84), decision implementation (α=0.75), service delivery (α=0.81) and interpersonal relationship (α=0.78) were used for data collection. Data were analyzed using descriptive statistics, Pearson product-moment correlation and multiple regression at 0.05 level of significance, while qualitative data were content analyzed. About 59.8% of the non-teaching staff exhibited a low level of knowledge management. The indices of administrative effectiveness of non-teaching staff were rated as follows: service delivery (82.0%), communication (78.0%), decision implementation (71.0%) and interpersonal relationship (68.0%). Knowledge management had significant relationships with the indices of administrative effectiveness: service delivery (r=0.82), communication (r=0.81), decision implementation (r=0.80) and interpersonal relationship (r=0.47). Knowledge management had a significant joint prediction on administrative effectiveness (F (4;1151)= 0.79, R=0.86), accounting for 73.0% of its variance. Knowledge sharing (β=0.38), knowledge transfer (β=0.26), knowledge utilization (β=0.22), and knowledge creation (β=0.06) had relatively significant contributions to administrative effectiveness. Lack of team spirit and withdrawal syndrome is the major perceived constraints to knowledge management practices among the non-teaching staff. Knowledge management positively influenced the administrative effectiveness of the non-teaching staff in federal universities in South-west Nigeria. There is a need to ensure that the non-teaching staff imbibe team spirit and embrace teamwork with a view to eliminating their withdrawal syndromes. Besides, knowledge management practices should be deployed into the administrative procedures of the university system.

Keywords: knowledge management, administrative effectiveness of non-teaching staff, federal universities in the south-west of nigeria., knowledge creation, knowledge utilization, effective communication, decision implementation

Procedia PDF Downloads 69

Authors: Chondrogianni Dimitra, Yorgos J. Stephanedes

Abstract:

The impact of the economic crisis, coupled with the aging of the city's old core, is reflected in central Athens. Public and private users, residents, employees, visitors desire the quality upgrading of abandoned buildings and public spaces through environmental upgrading and sustainable mobility, and promotion of the international metropolitan character of the city. In the study, a strategy for reshaping the character and function of the historic Athenian triangle is proposed, aiming at its economic, environmental, and social sustainable development through feasible, meaningful, and non-landscaping solutions of low cost and high positive impact. Sustainable mobility is the main principle in re-planning the study area and transforming it into a “Low Pollution and Limited Vehicle Traffic Zone” is the main strategy. Τhe proposed measures include the development of pedestrian mobility networks by expanding the pedestrian roads and limited-traffic routes, of bicycle networks based on the approved Metropolitan Bicycle Route of Athens, of public transportation networks with new lines of electric mini-buses, and of new regulations for vehicle mobility in the historic triangle. In addition, complementary actions are proposed regarding the provision of Wi-Fi on fixed track media, development of applications that facilitate combined travel and provide real-time data, integration of micromobility (roller skates, Segway, Hoverboard), and its enhancement as a flexible means of personal mobility, and development of car-sharing, ride-sharing and dynamic carpooling initiatives.

Keywords: regeneration plans, sustainable mobility, environmental upgrading, athens historical triangle

Procedia PDF Downloads 141

Authors: Varsha Rainson

Abstract:

Artificial intelligence (AI) has great potential and can be used as a powerful tool of application in various domains and sectors. But with the application of AI, there comes a wide spectrum of concerns around bias, accountability, transparency, and privacy. Hence, there is a need for responsible AI, which can uphold ethical and accountable practices to ensure that things are transparent and fair. The paper is a combination of AI and cultural heritage preservation, with a greater focus on India because of the rich cultural legacy that it holds. India’s cultural heritage in itself contributes to its identity and the economy. In this paper, along with discussing the impact culture holds on the Indian economy, we will discuss the threats that the cultural heritage is exposed to due to pollution, climate change and urbanization. Furthermore, the paper reviews some of the exciting applications of AI in cultural heritage preservation, such as 3-D scanning, photogrammetry, and other techniques which have led to the reconstruction of cultural artifacts and sites. The paper eventually moves into the potential risks and challenges that AI poses in cultural heritage preservation. These include ethical, legal, and social issues which are to be addressed by organizations and government authorities. Overall, the paper strongly argues the need for responsible AI and the important role it can play in preserving India’s cultural heritage while holding importance to value and diversity.

Keywords: responsible AI, cultural heritage, artificial intelligence, biases, transparency

Procedia PDF Downloads 163

Authors: Ferry Kurniawan

Abstract:

In this paper, we nowcast quarterly output growth in Indonesia by exploiting higher frequency data (monthly indicators) using a mixed-frequency factor model and exploiting both quarterly and monthly data. Nowcasting quarterly GDP in Indonesia is particularly relevant for the central bank of Indonesia which set the policy rate in the monthly Board of Governors Meeting; whereby one of the important step is the assessment of the current state of the economy. Thus, having an accurate and up-to-date quarterly GDP nowcast every time new monthly information becomes available would clearly be of interest for central bank of Indonesia, for example, as the initial assessment of the current state of the economy -including nowcast- will be used as input for longer term forecast. We consider a small scale mixed-frequency factor model to produce nowcasts. In particular, we specify variables as year-on-year growth rates thus the relation between quarterly and monthly data is expressed in year-on-year growth rates. To assess the performance of the model, we compare the nowcasts with two other approaches: autoregressive model –which is often difficult when forecasting output growth- and Mixed Data Sampling (MIDAS) regression. In particular, both mixed frequency factor model and MIDAS nowcasts are produced by exploiting the same set of monthly indicators. Hence, we compare the nowcasts performance of the two approaches directly. To preview the results, we find that by exploiting monthly indicators using mixed-frequency factor model and MIDAS regression we improve the nowcast accuracy over a benchmark simple autoregressive model that uses only quarterly frequency data. However, it is not clear whether the MIDAS or mixed-frequency factor model is better. Neither set of nowcasts encompasses the other; suggesting that both nowcasts are valuable in nowcasting GDP but neither is sufficient. By combining the two individual nowcasts, we find that the nowcast combination not only increases the accuracy - relative to individual nowcasts- but also lowers the risk of the worst performance of the individual nowcasts.

Keywords: nowcasting, mixed-frequency data, factor model, nowcasts combination

Procedia PDF Downloads 314

Authors: Wincharles Coker

Abstract:

This study troubles the role the state as the chief sponsor of higher education plays in shaping communication training in Ghana. Using a public university as a case study, it explores how the government of Ghana, through its regimes of control, exercises its authority over the means of production in the academy. Based on Wenger’s community of practice theory and critical theory, the research analyzes the political economy within which higher education in the country operates, focusing on the mandates of two of its bodies: the National Council for Tertiary Education (NCTE) and the National Accreditation Board (NAB). Results show that communication training in Ghana is shaped by three basic strategies of control: developmentalism, bureaucratization, and corporatization. This governmentality, the research reveals nonetheless, largely constrains the agency and practices of the community of communication faculty and administrators, and thus presents a major challenge to the exercise of intellectual freedom, and the self-critical nature of the academy. The study bears implications for further research in the political economy of communication studies, the administration of higher education, and critical/cultural studies in education.

Keywords: communication, developmentalism, educattion, governmentality

Procedia PDF Downloads 341

Authors: Priyadarshini Alok

Abstract:

The present situation in India envisages that because of the surge in population and the economy, cities are expected to spill over to hinterland areas. The consumption-led factors such as land, labor, etc. will be boosted. Hence, the need for regional connectivity becomes obligatory. But, there is enormous pressure upon the land; proving itself through rising traffic congestion, roads, and railway accidents. Air transport is practical, but due to decreasing availability of land, this will not be a wise solution. What with the introduction of seaplanes in the country which was once the vital asset in the world prior to Second World War. Maldives has proved it. Seaplanes offer natural landing site and are time and cost-efficient. Seaplanes in accordance with UDAN can prove to be the solution in linking various regions with other states. This research paper aims to offer the feasibility analysis along with site justification of the potential areas in the state of Andhra Pradesh, India; for the operation of seaplanes. The standards are taken from the US Department of Transportation, Federal Aviation Administration for the analysis. The conflation of Seaplanes with UDAN will offer an alternate mode of air connectivity, strengthen the transport network by simulation of connectivity to unserved and under-served areas and boost the nation's economy.

Keywords: connectivity, seaplanes, transport, UDAN

Procedia PDF Downloads 151

Authors: G. C. Joshi, M. Paul, B. K. Kalita, V. Ranga, J. S. Rawat, P. S. Rawat

Abstract:

Being a habitat of the global village, every place has established connection through the strength and power of social media piercing through the political boundaries. Social media is a digital platform, where people across the world can interact as it has advantages of being universal, anonymous, easily accessible, indirect interaction, gathering and sharing information. The power of social media lies in the intensity of sharing extreme opinions or feelings, in contrast to the personal interactions which can be easily mapped in the form of Sentiment Mapping. The easy access to social networking sites such as Facebook, Twitter and blogs made unprecedented opportunities for citizens to voice their opinions loaded with dynamics of emotions. These further influence human thoughts where social media plays a very active role. A recent incident of public importance was selected as a case study to map the sentiments of people through Twitter. Understanding those dynamics through the eye of an ordinary people can be challenging. With the help of R-programming language and by the aid of GIS techniques sentiment maps has been produced. The emotions flowing worldwide in the form of tweets were extracted and analyzed. The number of tweets had diminished by 91 % from 25/08/2017 to 31/08/2017. A boom of sentiments emerged near the origin of the case, i.e., Delhi, Haryana and Punjab and the capital showed maximum influence resulting in spillover effect near Delhi. The trend of sentiments was prevailing more as neutral (45.37%), negative (28.6%) and positive (21.6%) after calculating the sentiment scores of the tweets. The result can be used to know the spatial distribution of digital penetration in India, where highest concentration lies in Mumbai and lowest in North East India and Jammu and Kashmir.

Keywords: sentiment mapping, digital literacy, GIS, R statistical language, spatio-temporal

Procedia PDF Downloads 134

Authors: Audie Daniel Wood

Abstract:

In the spring of 2020, the country and the economy came to a halt due to an outbreak of the novel coronavirus, SARS-2, virus known as COVID-19. One of the hardest hit sectors of the economy was the gig-sector, which includes Lyft, Uber, Door-Dash, and other services. In this study, we examined the effects of the independent contractor status of laborers in this field to see how a near-complete economic shut-down affected the lives of laborers who are denied access to health-care and unemployment benefits due to their status as independent contractors. What the study found was there was no 'life-altering' change to the lives of the workers who used gig-work as supplementary income during the economic shut-down, but those who relied on Lyft and Uber, etc. as their sole source of income were more heavily impacted by the economic shut-down than part-time workers. The second significant finding of the study was that across all genders and races, the idea of having to seek unemployment or help was something that none of the workers wanted. They all felt as if unemployment and social-insurance were for those who could not work. While the findings are not generalizable due to this being a small qualitative study consisting of 27 participants, the findings suggest that the economic and social impact of COVID-19 on those that work in the gig-industry warrants further discussion and research.

Keywords: gig-work, Covid-19, independent contractor, Uber

Procedia PDF Downloads 104

Authors: Pham Quang Huy

Abstract:

State budget is considered as an effective tool for controlling, adjusting and regulating the market economy of any countries. To ensure that the activities of the state in the fields of politics, economy and society has been efficiency, it requires major sources of certain budget. These financial funds are formed from tax revenues and tax revenues beyond. Therefore, the Governments need to have an accounting regime to manage the receipt, expenditure which are suitable for recording a full range of items. From that, it can help to increase the transparency and accountability in budget system. One of the main requirements in Vietnamese policies is to improve that accounting system of revenues and expenditures which can provide many reports to meet the information required of government and users, as well as directions to the trends of international standards requirements. By using quantitative research methods and analytical models to exploring factors, the main purpose of this article is to identify the factors affecting budget accounting and providing some direction for Vietnamese public sector in the future. The results indicated that Vietnam budget accounting has been impacted by seven factors and aims to implement three main orientations in the public sector units.

Keywords: state budget, accounting, IPSAS, budget management, government, public sector

Procedia PDF Downloads 248

Authors: Shpetim Rezniqi

Abstract:

Financial Policies in the process of global crisis the current crisis has swept the world with special emphasis, most developed countries, those countries which have most gross -product world and you have a high level of living.Even those who are not experts can describe the consequences of the crisis to see the reality that is seen, but how far will it go this crisis is impossible to predict. Even the biggest experts have conjecture and large divergence, but agree on one thing: - The devastating effects of this crisis will be more severe than ever before and can not be predicted.Long time, the world was dominated economic theory of free market laws. With the belief that the market is the regulator of all economic problems. The market, as river water will flow to find the best and will find the necessary solution best. Therefore much less state market barriers, less state intervention and market itself is an economic self-regulation. Free market economy became the model of global economic development and progress, it transcends national barriers and became the law of the development of the entire world economy. Globalization and global market freedom were principles of development and international cooperation. All international organizations like the World Bank, states powerful economic, development and cooperation principles laid free market economy and the elimination of state intervention. The less state intervention much more freedom of action was this market- leading international principle. We live in an era of financial tragic. Financial markets and banking in particular economies are in a state of thy good, US stock markets fell about 40%, in other words, this time, was one of the darkest moments 5 since 1920. Prior to her rank can only "collapse" of the stock of Wall Street in 1929, technological collapse of 2000, the crisis of 1973 after the Yom Kippur war, while the price of oil quadrupled and famous collapse of 1937 / '38, when Europe was beginning World war II In 2000, even though it seems like the end of the world was the corner, the world economy survived almost intact. Of course, that was small recessions in the United States, Europe, or Japan. Much more difficult the situation was at crisis 30s, or 70s, however, succeeded the world. Regarding the recent financial crisis, it has all the signs to be much sharper and with more consequences. The decline in stock prices is more a byproduct of what is really happening. Financial markets began dance of death with the credit crisis, which came as a result of the large increase in real estate prices and household debt. It is these last two phenomena can be matched very well with the gains of the '20s, a period during which people spent fists as if there was no tomorrow. All is not away from the mouth of the word recession, that fact no longer a sudden and abrupt. But as much as the financial markets melt, the greater is the risk of a problematic economy for years to come. Thus, for example, the banking crisis in Japan proved to be much more severe than initially expected, partly because the assets which were based more loans had, especially the land that falling in value. The price of land in Japan is about 15 years that continues to fall. (ADRI Nurellari-Published in the newspaper "Classifieds"). At this moment, it is still difficult to çmosh to what extent the crisis has affected the economy and what would be the consequences of the crisis. What we know is that many banks will need more time to reduce the award of credit, but banks have this primary function, this means huge loss.

Keywords: globalisation, finance, crisis, recomandation, bank, credits

Procedia PDF Downloads 366

Authors: Hamda M. Al-Ali

Abstract:

From addressing fundamental questions about the history of the solar system to exploring other planets for any signs of life have always been the core of human space exploration. This triggered humans to explore whether other planets such as Mars could support human life on them. Therefore, many planned space missions to other planets have been designed and conducted to examine the feasibility of human survival on them. However, space missions are expensive and consume a large number of various resources to be successful. To overcome these problems, material efficiency shall be maximized through the use of reusable launch vehicles (RLV) rather than disposable and expendable ones. Material efficiency is defined as a way to achieve service requirements using fewer materials to reduce CO2 emissions from industrial processes. Materials such as aluminum-lithium alloys, steel, Kevlar, and reinforced carbon-carbon composites used in the manufacturing of spacecrafts could be reused in closed-loop cycles directly or by adding a protective coat. Material efficiency is a fundamental principle of a circular economy. The circular economy aims to cutback waste and reduce pollution through maximizing material efficiency so that businesses can succeed and endure. Five strategies have been proposed to improve material efficiency in the space industry, which includes waste minimization, introduce Key Performance Indicators (KPIs) to measure material efficiency, and introduce policies and legislations to improve material efficiency in the space sector. Another strategy to boost material efficiency is through maximizing resource and energy efficiency through material reusability. Furthermore, the environmental effects associated with the rapid growth in the number of space missions include black carbon emissions that lead to climate change. The levels of emissions must be tracked and tackled to ensure the safe utilization of space in the future. The aim of this research paper is to examine and suggest effective methods used to improve material efficiency in space missions so that space and Earth become more environmentally and economically sustainable. The objectives used to fulfill this aim are to identify the materials used in space missions that are suitable to be reused in closed-loop cycles considering material efficiency indicators and circular economy concepts. An explanation of how spacecraft materials could be re-used as well as propose strategies to maximize material efficiency in order to make RLVs possible so that access to space becomes affordable and reliable is provided. Also, the economic viability of the RLVs is examined to show the extent to which the use of RLVs has on the reduction of space mission costs. The environmental and economic implications of the increase in the number of space missions as a result of the use of RLVs are also discussed. These research questions are studied through detailed critical analysis of the literature, such as published reports, books, scientific articles, and journals. A combination of keywords such as material efficiency, circular economy, RLVs, and spacecraft materials were used to search for appropriate literature.

Keywords: access to space, circular economy, material efficiency, reusable launch vehicles, spacecraft materials

Procedia PDF Downloads 91

Authors: Ashika Govender

Abstract:

This study seeks to determine whether Okun’s Law is valid for the South African economy, using time series data for the period 2004 to 2014. The data were accessed from the South African Reserve Bank and Stats SA. The stationarity of the variables was analysed by applying unit root tests via the Augmented Dickey-Fuller test (ADF), the Phillips-Perron (PP) test, and the Kwiatkowski–Phillips–Schmidt–Shin test (KPSS) test. The study used an ordinary least square (OLS) model in analysing the dynamic version of Okun’s law. The Error Correction Model (ECM) was used to analyse the short-run impact of GDP growth on unemployment, as well as the speed of adjustment. The results indicate a short run and long run relationship between unemployment rate and GDP growth rate in period 2004q1-2014q4, suggesting that Okun’s law is valid for the South African economy. With a 1 percent increase in GDP, unemployment can decrease by 0.13 percent, ceteris paribus. The research culminates in important policy recommendations, highlighting the relationship between unemployment and economic growth in the spirit of the National Development Plan.

Keywords: unemployment, economic growth, Okun's law, South Africa

Procedia PDF Downloads 255

Authors: Ndeye Tiguida Sarr, Onur Akpinar

Abstract:

The tourism industry, being the sector that includes all the activities related to the organization and satisfaction of tourists during their trip, also has a very important role in the national economy of the host country. In order to measure the stakes of tourism on the economy, microeconomic and macroeconomic factors are elements of analysis. While microeconomics is limited to an individual perspective, macroeconomics extends to a global perspective and treats the economy as a whole by focusing on social and economic actors in general. It is in this context that this study focuses on macroeconomic variables in order to determine the factors that influence the financial performance of tourism firms in Turkey, which is one of the world's major destinations. The aim of the study is to demonstrate the relationship between macroeconomic variables and the financial performance of tourism firms. Data from 2011 to 2020 are collected, from a sample of 16 companies that represent the tourism sector in Borsa Istanbul. Tobin’s Q ratio, Market to Book ratio, Return on Invested Capital, and Return on Assets as the financial performance indicators were dependent variables of the study. Gross Domestic Products, Inflation, Interest Rates, and Unemployment as macroeconomic indicators were independent variables. Again, Size, Liquidity, Leverage, and Age were control variables of the study. According to the results, value indicators, which are Tobin’s Q ratio and Market to Book ratio, have a statistically significant relationship with Inflation, Interest Rates, and Unemployment. A negative relationship is found between value indicators and Interest rates and a positive relationship between value indicators and Unemployment and Inflation. On the other hand, there is no significant relationship between profit indicators (Return on Invested Capital and Return on Assets) and macroeconomic variables. Accordingly, Interest rates negatively affect the financial performance of tourism firms and stand out as a factor that decreases the value.

Keywords: financial performance, macroeconomic variables, panel data, Tobin Q

Procedia PDF Downloads 125

Authors: Adebayo J. Julius, Oluremi N. Iluyomade

Abstract:

Livelihood in Nigeria is a paradox of poverty amidst plenty. The Country is endowed with a good climate for agriculture, naturally growing fruit trees and vegetables, and undomesticated water resources. In spite of all its endowment, Nigeria continues to live in poverty year in year out. This thus raises a very important question as to how can there be so much poverty in Nigeria with all its natural endowments. This study focused comparative analysis of the utilization of community informatics for sustainable livelihoods through agriculture. The idea projected in this study is that small strategic changes in the modus operandi of social informatics can have a significant impact on sustainability of livelihoods. This paper carefully explored the theories of community informatics and its efficacies in dealing with sustainability issues. This study identified, described and evaluates the roles of community informatics in some sectors of the economy, different analytical tools to benchmark the influence of social informatics in agriculture against what is obtainable in agricultural sectors of the economy were used. It further employed comparative analysis to build a case model for sustainable livelihood in agriculture through community informatics.

Keywords: informatics , model, rural community, livelihoods sustainability, Nigeria

Procedia PDF Downloads 120

Authors: Arsalan Khan, Faisal Jamil

Abstract:

The unprecedented increase in anthropogenic gases in recent decades has led to climatic changes worldwide. CO2 emissions are the most important factors responsible for greenhouse gases concentrations. This study decomposes the changes in overall CO2 emissions in Pakistan for the period 1990-2012 using Log Mean Divisia Index (LMDI). LMDI enables to decompose the changes in CO2 emissions into five factors namely; activity effect, structural effect, intensity effect, fuel-mix effect, and emissions factor effect. This paper confirms an upward trend of overall emissions level of the country during the period. The study finds that activity effect, structural effect and intensity effect are the three major factors responsible for the changes in overall CO2 emissions in Pakistan with activity effect as the largest contributor to overall changes in the emissions level. The structural effect is also adding to CO2 emissions, which indicates that the economic activity is shifting towards more energy-intensive sectors. However, intensity effect has negative sign representing energy efficiency gains, which indicate a good relationship between the economy and environment. The findings suggest that policy makers should encourage the diversification of the output level towards more energy efficient sub-sectors of the economy.

Keywords: energy consumption, CO2 emissions, decomposition analysis, LMDI, intensity effect

Procedia PDF Downloads 377

Authors: V. Benidze

Abstract:

After the Rose Revolution of 2003, Georgia has achieved an unparalleled socioeconomic success. However, economic growth since 2012 has been sluggish and certainly not enough to rapidly improve the county’s standard of living that still remains substantially low compared to that in developed nations. Recent poor economic performance has shown that some key challenges need to be addressed if Georgia is to achieve high future economic growth that will decrease the poverty rate and create a middle class in the country. This paper offers in detail analysis of the economic performance of Georgia since 2012 and identifies key challenges facing the country’s economy. The main challenge going forward will be transforming Georgia from a consumption-driven to a production-oriented economy. It is identified that mobilizing domestic investment through savings, attracting foreign investment in tradable sectors and expanding the country’s export base will be crucial in the facilitation of the above-mentioned structural transformation. As the outcome of the research, the paper suggests a strategy for accelerating Georgia’ future economic growth and offers recommendations based on the relevant conclusions.

Keywords: challenges, development, economic growth, economic policy, Georgia

Procedia PDF Downloads 140

Authors: Alexander Hempfing

Abstract:

The desire to understand business cycle fluctuations, trade interdependencies and co-movement has a long tradition in economic thinking. From input-output economics to business cycle theory, researchers aimed to find appropriate answers from an empirical as well as a theoretical perspective. This paper empirically analyses how the production structure of the global economy and several states developed over time, what their distributional properties are and if there are network specific metrics that allow identifying structurally important nodes, on a global, national and sectoral scale. For this, the World Input-Output Database was used, and different statistical methods were applied. Empirical evidence is provided that the importance of the Eastern hemisphere in the global production network has increased significantly between 2000 and 2014. Moreover, it was possible to show that the sectoral eigenvector centrality indices on a global level are power-law distributed, providing evidence that specific national sectors exist which are more critical to the world economy than others while serving as a hub within the global production network. However, further findings suggest, that global production cannot be characterized as a scale-free network.

Keywords: economic integration, industrial organization, input-output economics, network economics, production networks

Procedia PDF Downloads 250

Authors: Anjuman Antil, Anuj Kapoor, Neha Saini

Abstract:

Purpose: The purpose of this paper is to study the evolution of insurance in India and the world. The paper also traced the historical basis of life insurance in the world and how it emerged as a major sector in India’s economy. The promotional strategies and distribution channel of top three companies in the Indian insurance sector are also discussed. Design/methodology/approach: The paper examined the secondary data which includes the reports issued by Insurance Regulatory Authority of India, websites of companies, books, and journals relevant to the study. Findings: The paper argued the role and importance of insurance in an emerging economy. The challenges and opportunities of the insurance sector are briefed out. The emerging areas in the insurance sector in terms of promotional strategies and distribution channel are also listed. Implications: The historical evolution can be studied by companies while formulating their strategies. It will help them analyse the insurance sector, how things have changed and how to change with the changing times. Originality/value: This paper gives comprehensive data regarding the background of the insurance sector. Along with historical perspective, marketing and distribution, current and future trends have been discussed.

Keywords: insurance, evolution, life insurance, marketing, distribution channels

Procedia PDF Downloads 217

Authors: Dejen Alemu, Murray E. Jennex, Temtim Assefa

Abstract:

Agriculture is the mainstay of the Ethiopian economy; however, the sector is dominated by smallholder farmers resulting in land fragmentation and suffering from low productivity. Due to these issues, much effort has been put into the transformation of the sector to bring about more sustainable rural economic development. Technological advancements have been applied for the betterment of farmers resulting in the design of tools that are potentially capable of supporting the agricultural sector; however, their use and relevance are still alien to the local rural communities. The notion of the creating, capturing and sharing of knowledge has also been repetitively raised by many international donor agencies to transform the sector, yet the most current approaches to knowledge dissemination focus on knowledge that originates from the western view of scientific rationality while overlooking the role of indigenous knowledge (IK). Therefore, in agricultural knowledge management system (KMS) development, the integration of IKS with scientific knowledge is a critical success factor. The present study aims to contribute in the discourse on how to best integrate scientific and IK in agricultural KMS development. The conceptual framework of the research is anchored in concepts drawn from the theory of situated learning in communities of practice (CoPs): knowledge brokering. Using the KMS development practices of Ethiopian agricultural transformation agency as a case area, this research employed an interpretive analysis using primary and secondary qualitative data acquired through in-depth semi-structured interviews and participatory observations. As a result, concepts are identified for understanding the integration of the two major knowledge systems (i.e., indigenous and scientific knowledge) and participation of relevant stakeholders in particular the local farmers in agricultural KMS development through the roles of extension agent as a knowledge broker including crossing boundaries, in-between position, translation and interpretation, negotiation, and networking. The research shall have a theoretical contribution in addressing the incorporation of a variety of knowledge systems in agriculture and practically to provide insight for policy makers in agriculture regarding the importance of IK integration in agricultural KMS development and support marginalized small-scale farmers.

Keywords: communities of practice, indigenous knowledge, knowledge management system development, knowledge brokering

Procedia PDF Downloads 311

Authors: Sibo Lu, Zhongkai Qian

Abstract:

This study endeavors to articulate a spectrum of capitalist transformation from a politico-economic perspective, categorizing the development of capitalism into pre-modern, modern, and post-modern stages while examining the transitions between these states. It critically engages with the concepts of pre-modernity, modernity, and post-modernity, typically aligned with cultural studies, to shed light on their objective changes in the politico-economic realm. Post-modernity, in this context, is associated with the transition to high-value-added services and economic growth in ‘developed’ countries amidst globalization, framing a ‘neoliberal’ economic transformation. The paper scrutinizes the neoliberal economic shifts in the latter half of the 20th century as part of the post-modern state, arguing against viewing post-modernity merely as a cultural or subjective interpretative stance. Instead, it is posited as a concrete politico-economic phase marked by the dominance of post-Fordist systems. Through integrating insights from the political economy with continental philosophy, this research provides a nuanced analysis of capitalism's evolution, challenging conventional class analyses under the capitalist system and fostering a broader understanding of socio-economic paradigms.

Keywords: post marxism, critical theory, political economy, capitalism transformation

Procedia PDF Downloads 16

Authors: Alison Brown

Abstract:

Through stories, children make sense of their world, see themselves through the eyes of another, and process emotions and lived experiences in a non-threatening and indirect manner. Building on research around the use of narrative techniques with adults and families, this research looked directly at the use of narratives as a therapeutic technique with children in counseling. Based on individual therapy sessions with children over a six-year period, this work of collective case studies tells the story of a practice incorporating children’s narratives, of children’s experiences in writing and sharing their narratives, and of the clinical impact of the use of narratives with children. Not all stories were narratives of success or happiness. Children documented their fears and anger as well as their achievements and hope for the future. What emerged through this study was an awareness of recurring themes in the way children responded to the narrative process and in the benefits and limitations of story writing with children. Consistent with previous studies focusing on narrative work with adults and families, the use of narratives with children provided opportunities for healing, acceptance, developing greater understanding, externalizing, and re-authoring a preferred future. In terms of the children’s experiences in writing and sharing their narratives, consistent themes emerged again, with many children finding the experience cathartic and liberating, empowering and hopeful, but most importantly, an opportunity that allowed them to feel and understand that they were not alone. Whilst a small collection of case studies tells the stories of a limited number of children, it is hoped that this research provides both a model and inspiration for others to explore similar uses of narratives with children. As a greater number of children’s narratives are created, the potential to share and benefit from the many rich stories and experiences of other children becomes more of a reality. Across cultures, economic and social settings, rural and urban environments, and varying family structures, it is important that we hear the voices of our children – ‘In their own words’.

Keywords: narrative therapy children counselling, social, emotional, zone of proximal development, scaffolding

Procedia PDF Downloads 77

Authors: Rizwan Fazal

Abstract:

This study investigates the behavior of external sector of Pakistan economy and its impact on economic growth, using quarterly data for the period 1990:01-2010:04. External sector indices used in this study are financial integration, net foreign assets and trade integration. Augmented Ducky fuller confirms that all variables of external sector are non-stationary at level, but at first difference it becomes stationary. The co-integration test suggests one co-integrating variables in the study. The analysis is based on Vector Auto Regression model followed by Vector Error Correction Model. The empirical findings show that financial integration play important role in increasing economic growth in Pakistan economy while trade integration has negative effect on economic growth of Pakistan in the long run. However, the short run confirms that output lag accounts for error correction. The estimated CUSUM and CUSUMQ stability test provide information that the period of the study equation remains stable.

Keywords: financial integration, trade integration, net foreign assets, gross domestic product

Procedia PDF Downloads 255