Search results for: credit growth

Authors: Sobar M. Johari, Ida Putri Anjarsari

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In the transmission of monetary instrument towards real sector of the economy, Bank Indonesia as monetary authority has developed Islamic Bank Indonesia Certificate (abbreviated as SBIS) as an instrument in Islamic open market operation. One of the monetary transmission channels could take place through financing channel from which the fund is used as the source of banking financing. This study aims to analyse the impact of Islamic monetary instrument towards output or economic growth. Data used in this research is taken from Bank Indonesia and Central Board of Statistics for the period of January 2008 until December 2015. The study employs Granger Causality Test, Vector Error Correction Model (VECM), Impulse Response Function (IRF) technique and Forecast Error Variance Decomposition (FEVD) as its analytical methods. The results show that, first, the transmission mechanism of banking financing channel are not linked to output. Second, estimation results of VECM show that SBIS, PUAS, and FIN have significant impact in the long term towards output. When there is monetary shock, output or economic growth could be recovered and stabilized in the short term. FEVD results show that Islamic banking financing contributes 1.33 percent to increase economic growth.

Keywords: Islamic monetary instrument, Islamic banking financing channel, economic growth, Vector Error Correction Model (VECM)

Procedia PDF Downloads 278

Authors: D. P. Rahardja, A. L. Toleng, M. Yusuf

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The objective of this study was to investigate the life-long effect of in utero nutrition fed at different stages of pregnancy in Bali cows (n = 40): (U1) without in utero nutrition (0 – parturition, negative control); (U2) 0 – 90 d of gestation; (U3) 90 - 180 d of gestation; (U4) 180 d – parturition; and (U5) in utero nutrition along gestation period (0 d to parturition – positive control) on the growth performance of the offspring to weaning age. The results indicated that effect of maternal nutrition on male and female offspring were particularly indicated by the growth performance of both the male and female offspring from birth to weaning.

Keywords: Bali cows, birth weight, maternal nutrition, pre-weaning daily gain, weaning weight

Procedia PDF Downloads 308

Authors: N. Meziou-Chebouti, A. Merabet, Y. Chebouti N. Behidj

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This work is a contribution to the knowledge of physicochemical characteristics of mature carob followed by evaluation of the activity, antimicrobial phenolics leaves and green pods of Ceratonia siliqua L. physicochemical study shows that mature carob it has a considerable content of sugar (50.90%), but poor in proteins (7%), fat (8%) and also has a high mineral content. The results obtained from phenolic extracts of leaves and green pods of Ceratonia siliqua L. show a wealth leaf phenolic extract especially flavonoids (0,545 mg EqQ/g) relative to the extract of green pods (0,226 mgEqQ/g). Polyphenols leaves have a slightly inhibitory effect on the growth of strains: Staphylococcus aureus, Escherichia coli, Klebsiella pneumoiae, Streptococcus sp and Sanmonella enteritidis, a strong inhibitory effect on the growth of Pseudomonas strain aerogenosa. Moreover, polyphenols pod have a slightly inhibitory effect on the growth of Streptococcus sp strains, Pseudomonas and aerogenosa Sanmonella enteritidis, a slightly inhibitory effect on the growth of Klebsiella pneumoniae strains, E. coli and Staphylococcus aureus.

Keywords: antimicrobial activity, bacteria, clove, Ceratonia siliqua, polyphenols

Procedia PDF Downloads 353

Authors: Rachita Lal

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Urban sprawl is a significant contributor to land use change in developing countries, where urbanization rates are high. The most important driver of environmental changes is also considered to be the shift in land use and land cover. Our local and regional land managers must carefully analyze urbanization and its effects on cities to make the best choices. This study uses satellite imagery to examine how urbanization affects the local ecosystem through geographic expansion. The following research focuses on the effects of city growth on the local environment, land use, and Land cover. The primary focus of this research is to study, To understand the role of urbanization on city expansion. To study the impact of spatial growth of urban areas on the Land cover. In this paper, the GIS tool will be used to analyze. For this purpose, four digital images are used for the years 2000, 2005, 2011, and 2019. The use of the approach in the Bhubaneswar Urban Core, one of the fastest developing and planned cities in India, has proved that it is highly beneficial and successful for monitoring urban sprawl. It offers a helpful tool for quantitative assessment, which is crucial for determining the spatial dynamics, variations, and changes of urban sprawl patterns in quickly increasing regions.

Keywords: LULC, urbanization, environment impact assessment, spatial growth

Procedia PDF Downloads 119

Authors: Hrvoje Simovic

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Paper analyses the key problems of fiscal sustainability in Croatia. To point out key challenges of fiscal sustainability, the public debt sustainability is analyzed using standard indicators of fiscal stability, accompanied with the identification of regime changes approach in the public debt trajectory using switching regression approach. The analysis is conducted for the period from 2001 to 2016. Results show huge vulnerability in recession period (2009-14), so key challenges in current fiscal policy and public debt management are recognized in maturity prolongation, interest rates trends, and credit rating expectations.

Keywords: fiscal sustainability, public debt, Croatia, budget deficit

Procedia PDF Downloads 260

Authors: Rahma Fitriani, Zerlita Fahdha Pusdiktasari, Herman Cahyo Diartho

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Spatial panel model is commonly used to specify more complicated behavior of economic agent distributed in space at an individual-spatial unit level. There are several spatial panel models which can be adapted based on certain assumptions. A package called splm in R has several functions, ranging from the estimation procedure, specification tests, and model selection tests. In the absence of prior assumptions, a comprehensive procedure which utilizes the available functions in splm must be formed, which is the objective of this study. In this way, the best specification and model can be fitted based on data. The implementation of the procedure works well. It specifies SARAR-FE as the best model for agricultural productivity growth of the 38 East Java’s Regencies/Municipalities.

Keywords: spatial panel, specification, splm, agricultural productivity growth

Procedia PDF Downloads 169

Authors: Ashkan Zargar, Ali Taheri Mirghaed, Zein Talal Barakat, Alireza Khosravi, Hamed Paknejad

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With the increase of bacterial resistance to the chemical antibiotics, replacing it with ecofriendly herbal materials and with no adverse effects in the host body is very important. Therefore, in this study, the effect of combined essential oil (Thymus vulgaris-Origanum magorana and Ziziphora clinopodioides) on the growth behavior of Yersinia ruckeri, Aeromonas hydrophila and Lactococcus garvieae was evaluated. The compositions of the herbal essential oils used in this study were determined by gas chromatography-mass spectrometry (GC-MS) while, the investigating of antimicrobial effects was conducted by the agar-disc diffusion method, determination of minimum inhibitory concentration (MIC) and minimum bactericidal concentration (MBC), and bacterial growth curves determination relied on optical density (OD) at 630 nm. The main compounds were thymol (40.60 %) and limonene (15.98 %) for Thymus vulgaris while carvacrol (57.86 %) and thymol (13.54 %) were the major compounds in Origanum magorana. As regards Ziziphora clinopodiodes, α-pinene (22.6 %) and carvacrol (21.1 %) represented the major constituents. Concerning Yersinia ruckeri, disc-diffusion results showed that t.O.z (50 % Origanum majorana) combined essential oil was presented the best inhibition zone (30.66 mm) but it was exhibited no significant differences with other tested commercial antibiotics except oxytetracycline (P <0/05). The inhibitory activity and the bactericidal effect of the t.O.z, unveiled by the MIC= 0.2 μL /mL and MBC= 1.6 μL /mL values, were clearly the best between all combined oils. The growth behaviour of Yersinia ruckeri was affected by this combined essential oil and changes in temperature and pH conditions affected herbal oil performance. As regard Aeromonas hydrophila, its results were so similar to Yersinia ruckeri results and t.O.z (50 % Origanum majorana) was the best between all combined oils (inhibition zone= 26 mm, MIC= 0.4 μL /mL and MBC= 3.2 μL /mL, combined essential oil was affected bacterial growth behavior). Also for Lactococcus garvieae, t.O.z (50 % Origanum majorana) was the best between all combined oils having the best inhibition zone= 20.66 mm, MIC= 0.8 μL /mL and MBC= 1.6 μL /mL and best effect on inhibiting bacterial growth. Combined herbal essential oils have a good and noticeable effect on the growth behavior of pathogenic bacteria in the laboratory, and by continuing research in the host, they may be a suitable alternative to control, prevent and treat diseases caused by these bacteria.

Keywords: bacterial pathogen, herbal medicine, growth behavior, fish

Procedia PDF Downloads 69

Authors: Han-Seul Lee, Min-Koo Kang, Sang-Ill Lee

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This study was conducted to reduce runoff by rainwater infiltration facility using attached growth with Bacillus sp., which are reported to remove nitrogen and phosphorus, as well as organic matter effectively. This study was investigated non-point pollutants removal efficiency of organic, nitrogen, and phosphorus in column using the media attached growth with Bacillus sp. To compare attached growth with bacillus sp. and detached media, two columns filled with perlite, zeolite, vermiculite, pumice, peat-moss was installed. In A column (attached growth with bacillus sp.), in case of infiltration velocity 30 mm/hr in high concentration of influent, it showed the removal efficiency (after aging term) is SS (suspended solid) 85.8±1.2 %, T-P (total phosphorus) 67.0±8.1 %, T-N (total nitrogen) 66.0±4.9 %, COD (chemical oxygen demand) 73.6±2.9 %, NH4+-N 72.7±3.0 %. In B column (detached media), in case of infiltration velocity 30 mm/hr in high concentration of influent, it showed the removal efficiency (after aging term) is SS 86.0±2.2 %, T-P 62.5±11.3 %, T-N 53.3±3.9 %, COD 34.6±3.7 %, NH4+-N 61.5±2.8 %. Removal efficiency of A column is better than B column. As the result from this study, using media with Bacillus sp. can improve an effective removal of non-point source pollutants.

Keywords: non-point source pollutants, Bacillus sp., rainwater, infiltration facility

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Authors: Ibrahim Danjuma, Dahiru Dauda Hammawa

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Economic growth and development can be driven by entrepreneurial innovation. The Nigerian economy has faced numerous obstacles over the past few years, including the energy crisis, the death and winding up of many small and medium enterprises, high unemployment rates, and escalating inflation, amongst others. Entrepreneurial innovation has emerged as a potential catalyst for revitalizing the troubled economy and driving sustainable growth. Entrepreneurial innovation can revitalize key industries and foster job creation. This paper proposes significant options as key drivers to entrepreneurial innovation that can take the troubled Nigerian economy out of the woods. It also discusses the significance of government assistance and regulatory actions in fostering entrepreneurial creativity. It argues that initiatives such as funding support, infrastructure development, and regulatory reforms are necessary for fostering a vibrant entrepreneurial ecosystem in Nigeria in order to unlock the full potential of innovative entrepreneurs. Finally, the paper emphasizes the transformative power of entrepreneurial innovation in revamping the troubled Nigerian economy and calls for concerted efforts by all stakeholders to harness its potential for sustainable growth and development. By fostering a culture of innovation, fostering entrepreneurship, and supporting emerging ventures, Nigeria can overcome its economic challenges and pave the way for a prosperous future.

Keywords: entrepreneurial innovation, entrepreneurial ecosystem, troubled economy, Nigeria

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Authors: Dragana R. Stamenov, Simonida S. Djuric, Timea Hajnal Jafari

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Plant growth promoting rhizobacteria (PGPR) are a heterogeneous group of bacteria that can be found in the rhizosphere, at root surfaces and in association with roots, enhancing the growth of the plant either directly and/or indirectly. Increased crop productivity associated with the presence of PGPR has been observed in a broad range of plant species, such as raspberry, chickpeas, legumes, cucumber, eggplant, pea, pepper, radish, tobacco, tomato, lettuce, carrot, corn, cotton, millet, bean, cocoa, etc. However, until now there has not been much research about influences of the PGPR on the growth and yield of onion. Onion (Allium cepa L.), of the Liliaceae family, is a species of great economic importance, widely cultivated all over the world. The aim of this research was to examine the influence of plant growth promoting bacteria Pseudomonas sp. Dragana, Pseudomonas sp. Kiš, Bacillus subtillis and Azotobacter sp. on the seed germination and early growth of onion (Allium cepa). PGPR Azotobacter sp., Bacillus subtilis, Pseudomonas sp. Dragana, Pseudomonas sp. Kiš, from the collection of the Faculty of Agriculture, Novi Sad, Serbia, were used as inoculants. The number of cells in 1 ml of the inoculum was 10⁸ CFU/ml. The control variant was not inoculated. The effect of PGPR on seed germination and hypocotyls length of Allium cepa was evaluated in controlled conditions, on filter paper in the dark at 22°C, while effect on the plant length and mass in semicontrol conditions, in 10 l volume vegetative pots. Seed treated with fungicide and untreated seed were used. After seven days the percentage of germination was determined. After seven and fourteen days hypocotil length was measured. Fourteen days after germination, length and mass of plants were measured. Application of Pseudomonas sp. Dragana and Kiš and Bacillus subtillis had a negative effect on onion seed germination, while the use of Azotobacter sp. gave positive results. On average, application of all investigated inoculants had a positive effect on the measured parameters of plant growth. Azotobacter sp. had the greatest effect on the hypocotyls length, length and mass of the plant. In average, better results were achieved with untreated seeds in compare with treated. Results of this study have shown that PGPR can be used in the production of onion.

Keywords: germination, length, mass, microorganisms, onion

Procedia PDF Downloads 236

Authors: Emin Çadirli, Izzettin Yilmazer, Uğur Büyük, Hasan Kaya

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Al-2Mn-5Fe eutectic alloy (wt.%) was prepared in a graphite crucible under vacuum atmosphere. The samples were directionally solidified upward at a constant temperature gradient in four different of growth rates by using a Bridgman method. The values of eutectic spacing were measured from longitudinal and transverse sections of the samples. The dependence of eutectic spacing on the growth rate was determined by using linear regression analysis. The microhardness and tensile strength of the studied alloy also were measured from directionally solidified samples. The dependency of the microhardness and tensile strength for directionally solidified Al-2Mn-5Fe eutectic alloy on the growth rate were investigated and the relationships between them were experimentally obtained by using regression analysis. The results obtained in present work were compared with the previous similar experimental results obtained for binary and ternary alloys.

Keywords: eutectic alloy, microhardness, microstructure, tensile strength

Procedia PDF Downloads 471

Authors: Alla V. Goncharova, Tatyana A. Karpenyuk, Yana S. Tsurkan, Rosa U. Beisembaeva, Togzhan D. Mukasheva, Ludmila V. Ignatova, Ramza Z. Berzhanova

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In this work the effect of culturing conditions of filamentous fungi Penicillium raistrickii, Penicillium anatolicum, Fusarium sp. on biomass yield, the content of total lipids and fatty acids was studied. It has been established that in time the process of lipids accumulation correlated with biomass growth of cultures, reaching maximum values in stationary growth phase. Biomass yield and accumulation of general lipids was increased by adding zinc to the culture medium. The more intensive accumulation of biomass and general lipids was observed at temperature 18°C. Lowering the temperature of culturing has changed the ratio of saturated: Unsaturated fatty acids in the direction of increasing the latter.

Keywords: biomass, culturing conditions, fungi, fatty acids (FA), growth dynamics, lipids

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Authors: Nour Mohamad Fayad

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Complex and extensively researched, the impact of corruption on economic growth seems to be intricate. Many experts believe that corruption reduces economic development. However, counterarguments have suggested that corruption either promotes growth and development or has no significant impact on economic performance. Clearly, there is no consensus in the economics literature regarding the possible relationship between corruption and economic development. Corruption's complex and clandestine nature, which makes it difficult to define and measure, is one of the obstacles that must be overcome when investigating its effect on an economy. In an attempt to contribute to the ongoing debate, this study examines the impact of corruption on economic growth in the Middle East and North Africa (MENA) region between 2000 and 2021 using a Customized Corruption Index-CCI and panel data on MENA countries. These countries were selected because they are understudied in the economic literature, and despite the World Bank's recent emphasis on corruption in the developing world, the MENA countries have received little attention. The researcher used Cobb-Douglas functional form to test corruption in MENA using a customized index known as Customized Corruption Index-CCI to track corruption over almost 20 years, then used the dynamic panel data. The findings indicate that there is a positive correlation between corruption and economic growth, but this is not consistent across all MENA nations. First, the relatively recent lack of data from MENA nations. This issue is related to the inaccessibility of data for many MENA countries, particularly regarding the returns on resources, private malfeasance, and other variables in Gulf countries. In addition, the researcher encountered several restrictions, such as electricity and internet outages, due to the fact that he is from Lebanon, a country whose citizens have endured difficult living conditions since the Lebanese crisis began in 2019. Demonstrating a customized index known as Customized Corruption Index-CCI that suits the characteristics of MENA countries to peculiarly measure corruption in this region, the outcome of the Customized Corruption Index-CCI is then compared to the Corruption Perception Index-CPI and Control of Corruption from World Governance Indicator-CC from WGI.

Keywords: corruption, economic growth, corruption measurements, empirical review, impact of corruption

Procedia PDF Downloads 72

Authors: Victor Igwemezie, Ali Mehmanparast

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The correct knowledge of corrosion fatigue mechanism in marine steel is very important. This is because it enables the design, selection, and use of steels for offshore applications. It also supports realistic corrosion fatigue life prediction of marine structures. A study has been conducted to increase the understanding of corrosion fatigue mechanism in marine steels. The materials investigated are normalized and advanced S355 Thermomechanical control process (TMCP) steels commonly used in the design of offshore wind turbine support structures. The experimental study was carried out by conducting corrosion fatigue tests under conditions pertinent to offshore wind turbine operations, using the state of the art facilities. A careful microstructural study of the crack growth path was conducted using metallurgical optical microscope (OM), scanning electron microscope (SEM) and Energy Dispersive X-Ray Spectroscopy (EDX). The test was conducted on three subgrades of S355 steel: S355J2+N, S355G8+M and S355G10+M and the data compared with similar studies in the literature. The result shows that the ferrite-pearlite morphology primarily controls the corrosion-fatigue crack growth path in marine steels. A corrosion fatigue mechanism which relies on the hydrogen embrittlement of the grain boundaries and pearlite phase is used to explain the crack propagation behaviour. The crack growth trend in the Paris region of the da/dN vs. ΔK curve is used to explain the dependency of the corrosion-fatigue crack growth rate on the ferrite-pearlite morphology.

Keywords: corrosion-fatigue mechanism, fatigue crack growth rate, ferritic-pearlitic steel, microstructure, phase morphology

Procedia PDF Downloads 158

Authors: Nyoman Wijana, Chandra Arha

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Disclosures of Intellectual Capital (IC) is a presentation of corporate information assets that are not recorded in the financial statements. This disclosures is very helpful because it provides inform corporate assets are intangible. In the new economic era, the company's intangible assets will determine company's competitive advantage. This study aimed to examine the effect of IC disclosures on market capitalization growth. Observational studies conducted over ten years in 2002-2011. The purpose of this study was to determine the effect for last ten years. One hundred samples of the company's largest market capitalization in 2011 traced back to last ten years. Data that used, are in 2011, 2008, 2005, and 2002 Method that’s used for acquiring the data is content analysis. The analytical method used is Ordinanary Least Square (OLS) and analysis tools are e views 7 This software using Pooled Least Square estimation parameters are specifically designed for panel data. The results of testing analysis showed inconsistent expression levels affect the growth of the market capitalization in each year of observation. The results of this study are expected to motivate the public company in Indonesia to do more voluntary IC disclosures and encourage regulators to make regulations in a comprehensive manner so that all categories of the IC must be disclosed by the company.

Keywords: IC disclosures, market capitalization growth, analytical method, OLS

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Authors: Pham Minh Duc, Tran Thi Thanh Hien, David A. Bengtson

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Laboratory feeding trial: the study was conducted to find out the optimal dietary vitamin C, or ascorbic acid (AA) levels in terms of the growth performance of snakehead. The growth trial included six treatments with five replications. Each treatment contained 0, 125, 250, 500, 1000 and 2000 mg AA equivalent kg⁻¹ diet which included six iso-nitrogenous (45% protein), iso-lipid (9% lipid) and isocaloric (4.2 Kcal.g¹). Eighty snakehead fingerlings (6.24 ± 0.17 g.fish¹) were assigned randomly in 0.5 m³ composite tanks. Fish were fed twice daily on demand for 8 weeks. The result showed that growth rates increased, protein efficiency ratio increased and the feed conversion ratio decreased in treatments with AA supplementation compared with control treatment. The survival rate of fish tends to increase with increase AA level. The number of RBCs, lysozyme in treatments with AA supplementation tended to rise significantly proportional to the concentration of AA. The number of WBCs of snakehead in treatments with AA supplementation was higher 2.1-3.6 times. In general, supplementation of AA in the diets for snakehead improved growth rate, feed efficiency and immune response. Hapa on-farm trial: based on the results of the laboratory feeding trial, the effects of AA on snakehead in hapas to simulate farm conditions, was tested using the following treatments: commercial feed; commercial feed plus hand mixed AA at 500; 750 and 1000 mg AA.kg⁻¹; SBM diet without AA; SBM diet plus 500; 750 and 1000 mg AA.kg⁻¹. The experiment was conducted in two experimental ponds (only SBM diet without AA placed in one pond and the rest in the other pond) with four replicate hapa each. Stocking density was 150 fish.m² and culture period was 5 months until market size was attained. The growth performance of snakehead and economic aspects were examined in this research.

Keywords: fish health, growth rate, snakehead, Vitamin C

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Authors: S. K. Ashiquer Rahman

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The proper policy handling might not able to attain the target since some of recessions, e.g., pandemic-led crises, the variables shocks of the economics. At the level of this situation, the Central bank implements the monetary policy to choose increase the exogenous expenditure and level of money supply consecutively for booster level economic growth, whether the monetary policy is relatively more effective than fiscal policy in altering real output growth of a country or both stand for relatively effective in the direction of output growth of a country. The dispute with reference to the relationship between the monetary policy and fiscal policy is centered on the inflationary penalty of the shortfall financing by the fiscal authority. The latest variables socks of economics as well as the pandemic-led crises, central banks around the world predicted just about a general dilemma in relation to increase rates to face the or decrease rates to sustain the economic movement. Whether the prices hang about fundamentally unaffected, the aggregate demand has also been hold a significantly negative attitude by the outbreak COVID-19 pandemic. To empirically investigate the effects of economics shocks associated COVID-19 pandemic, the paper considers the effectiveness of the monetary policy and fiscal policy that linked to the adjustment mechanism of different economic variables. To examine the effects of economics shock associated COVID-19 pandemic towards the effectiveness of Monetary Policy and Fiscal Policy in the direction of output growth of a Country, this paper uses the Simultaneous equations model under the estimation of Two-Stage Least Squares (2SLS) and Ordinary Least Squares (OLS) Method.

Keywords: IS-LM framework, pandemic. Economics variables shocks, simultaneous equations model, output growth

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Authors: Valbona Sota, Efigjeni Kongjika

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Wild almond is a woody species, which is difficult to propagate either generatively by seed or by vegetative methods (grafting or cuttings) and also considered as Endangered (EN) in Albania based on IUCN criteria. As a wild relative of cultivated fruit trees, this species represents a source of genetic variability and can be very important in breeding programs and cultivation. For this reason, it would be of interest to use an effective method of in vitro mid-term conservation, which involves strategies to slow plant growth through physicochemical alterations of in vitro growth conditions. Multiplication of wild almond was carried out using zygotic embryos, as primary explants, with the purpose to develop a successful propagation protocol. Results showed that zygotic embryos can proliferate through direct or indirect organogenesis. During subculture, stage was obtained a great number of new plantlets identical to mother plants derived from the zygotic embryos. All in vitro plantlets obtained from subcultures underwent in vitro conservation by minimal growth in low temperature (4ºC) and darkness. The efficiency of this technique was evaluated for 3, 6, and 10 months of conservation period. Maintenance in these conditions reduced micro cuttings growth. Survival and regeneration rates for each period were evaluated and resulted that the maximal time of conservation without subculture on 4ºC was 10 months, but survival and regeneration rates were significantly reduced, specifically 15.6% and 7.6%. An optimal period of conservation in these conditions can be considered the 5-6 months storage, which can lead to 60-50% of survival and regeneration rates. This protocol may be beneficial for mass propagation, mid-term conservation, and for genetic manipulation of wild almond.

Keywords: micropropagation, minimal growth, storage, wild almond

Procedia PDF Downloads 126

Authors: Desierin Rodrin, Magdalena Alcantara, Cristina Olo

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The increase in environmental temperatures brought about by climate change impacts negatively the growth performance of broilers that may be solved by manipulating the diet of the animals. Hence, this study was conducted to evaluate the effects of different vitamin supplements on the growth performance of broiler chickens subjected to ambient (31°C) and heat stress (34°C) temperatures. The treatments were: I- Control (no vitamin supplement), II- Vitamin A (4.5 mg/kg of feed), III- Vitamin C (250 mg/kg of feed), IV- Vitamin E (250 mg/kg of feed), V- Vitamin C and E (250 mg/kg of feed and 250 mg/kg of feed), VI- Vitamin A and E (4.5 mg/kg of feed and 250 mg/kg of feed), VII- Vitamin A and C (4.5 mg/kg of feed and 250 mg/kg of feed), and VIII- Vitamin A, C and E (4.5 mg/kg of feed, 250 mg/kg of feed and 250 mg/kg of feed). The birds (n=240) were distributed randomly into eight treatments replicated three times, with each replicates having five birds. Ambient temperature was maintained using a 25 watts bulb for every 20 birds, while heat stress condition was sustained at 34°C for about 9 hours daily by using a 50 watts bulb per 5 birds. The interaction of vitamin supplements and temperatures did not significantly (P>0.05) affected body weight, average daily gain, feed consumption and feed conversion efficiency throughout the growing period. Similarly, supplementation of different vitamins did not improve (P>0.05) the overall production performance of birds throughout the rearing period. Birds raised in heat stress (34°C) condition had significantly lower ((P<0.05) body weight, average daily gain, and feed consumption compared to birds raised in ambient temperature at weeks 3, 4 and 5 of rearing. Supplementation of vitamins A, C, and E in the diet of broilers did not alleviate the effect of heat stress in the growth performance of broilers.

Keywords: broiler growth performance, heat stress, vitamin supplementation, vitamin A, vitamin C, vitamin E

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Authors: Olfa Kaabia, Ilyes Abid, Khaled Guesmi

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This pioneer paper studies whether and how Bitcoin shocks are transmitted to the U.S economy. We employ a new methodology: TVP FAVAR model with stochastic volatility. We use a large dataset of 111 major U.S variables from 1959:m1 to 2016:m12. The results show that Bitcoin shocks significantly impact the U.S. economy. This significant impact is pronounced in a volatile and increasing U.S economy. The Bitcoin has a positive relationship on the U.S real activity, and a negative one on U.S prices and interest rates. Effects on the Monetary Policy exist via the inter-est rates and the Money, Credit and Finance transmission channels.

Keywords: bitcoin, US economy, FAVAR models, stochastic volatility

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Authors: Vivek Anand, Rainer Naegele

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Industry 4.0 envisages 'smart' manufacturing and services, taking the automation of the 3rd Industrial Revolution to the autonomy of the 4th Industrial Revolution. Powered by innovations in technology and business models, this disruptive transformation is revitalising industry by integrating silos across and beyond value chains. Motivated by the challenges faced by SMEs and Startups in understanding and adopting Industry 4.0, this paper aims to analyse the concept of Growth Poles and evaluate the possibility of its application to Innovation Clusters that strive to propel Industry 4.0 adoption and capacity building. The proposed paper applies qualitative research methodologies including focus groups and survey questionnaires to identify the various factors that affect formation and development of Innovation Clusters. Employing content analysis, the interaction between SMEs and other ecosystem players in such clusters is studied. A strong collaborative culture is a key driver of digital transformation and technology adoption across sectors, value chains and supply chains; and will position these cluster-based growth poles at the forefront of industrial renaissance. Motivated by this argument, and based on the results of the qualitative research, a roadmap will be proposed to position Innovation Clusters as Growth Poles and effective ecosystems to support Industry 4.0 adoption in a region in the medium to long term. This paper will contribute to the current understanding of the role of Innovation Clusters in capacity building. Relevant management and policy implications stem from the analysis. Furthermore, the findings will be helpful for academicians and policymakers alike, who can leverage an ‘innovation cluster policy’ to enable Industry 4.0 Growth Poles in their regions.

Keywords: digital transformation, fourth industrial revolution, growth poles, industry 4.0, innovation clusters, innovation policy, SMEs and startups

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Authors: Munirah Ismail, Joon Hock Yeo

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Paediatric patients who require ventricular outflow tract reconstruction usually need valve construction to prevent valvular regurgitation. They would face problems like lack of suitable, affordable conduits and the need to undergo several operations in their lifetime due to the short lifespan of existing valves. Their natural growth and development are also of concern, even if they manage to receive suitable conduits. Current prosthesis including homografts, bioprosthetic valves, mechanical valves, and bovine jugular veins either do not have the long-term durability or the ability to adapt to the growth of such patients. We have developed a new design of bi-leaflet valve. This new technique accommodates patients’ annular size growth while maintaining valvular patency. A mock circulatory system was set up to assess the hemodynamic performance of the bi-leaflet pulmonary valve. It was found that the percentage regurgitation was acceptable and thus, validates this novel concept.

Keywords: bi-leaflet pulmonary valve, pulmonary heart valve, tetralogy of fallot, mock circulatory system

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Authors: Ahmed Zahran

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Bifidobacterium breve ATCC 15700, Bifidobacterium adolescents ATCC 15704 and Bifidobacterium longum ATCC 15707 were tested for their growth, acid production, bile tolerance, antibiotic resistance and adherence to columnar epithelial cells of the small intestine of goat. The growth of all studied species was determined in the MRSL medium. B.longum 15707 was the most active species in comparison with the other two species; it was also more resistant to bile acids. The adhesion of the studied species to the columnar epithelial cells was studied. All the studied species showed some degree of adhesion; however, B.longum adhered more than the other two species. This species was resistant to four types of antibiotics and was sensitive to chloramphenicol 30 µg. The activity of Bifidobacterium species in soymilk was evaluated by measuring the development of titratalle acidity. B.longum 15707 was the most active species in terms of growth and activity of soymilk. So, soymilk containing bifidobacteria could be added to goat milk to produce acceptable functional soy yogurt, using the ratio of (1:4) soy milk to goat milk. This product could be of unique health benefits, especially in the case of high cholesterol levels and replenishment of intestinal flora after antibiotic therapy.

Keywords: bifidobacteria physiological properties, soy milk, goat milk, attachment epithelial cells, columnar tissues, probiotic food

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Authors: Safar Ghaedrahmati, Leila Soltani

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Population centralization in urban area and metropolitans, especially in developing countries such as Iran increase metropolitan's problems. For few decades, the population of cities in developing countries, including Iran had a higher growth rate than the total growth rate of countries’ population. While in developed countries, the development of the big cities began decades ago and generally allowed for controlled and planned urban expansion, the opposite is the case in developing countries, where rapid urbanization process is characterized by an unplanned existing urban expansion. The developing metropolitan cities have enormous difficulties in coping both with the natural population growth and the urban physical expansion. Iranian cities are usually the heart of economic and cultural changes that have occurred after the Islamic revolution in 1979. These cities are increasingly having impacts via political–economical arrangement and chiefly by urban management structures. Structural features have led to the population growth of cities and urbanization (in number, population and physical frame) and the main problems in them. On the other hand, the lack of birth control policies and the deceptive attractions of cities, particularly big cities, and the birth rate has shot up, something which has occurred mainly in rural regions and small cities. The population of Iran has increased rapidly since 1956. The 1956 and 1966 decennial censuses counted the population of Iran at 18.9 million and 25.7 million, respectively, with a 3.1% annual growth rate during the 1956–1966 period. The 1976 and 1986 decennial censuses counted Iran’s population at 33.7 and 49.4 million, respectively, a 2.7% and 3.9% annual growth rate during the 1966–1976 and 1976–1986 periods. The 1996 count put Iran’s population at 60 million, a 1.96% annual growth rate from 1986–1996 and the 2006 count put Iran population at 72 million. A recent major policy of urban economic and industrial decentralization is a persistent program of the government. The policy has been identified as a result of the massive growth of Tehran in the recent years, up to 9 million by 2010. Part of the growth of the capitally resulted from the lack of economic opportunities elsewhere and in order to redress the developing primacy of Tehran and the domestic pressures which it is undergoing, the policy of decentralization is to be implemented as quickly as possible. Type of research is applied and method of data collection is documentary and methods of analysis are; population analysis with urban system analysis and urban distribution system

Keywords: population centralization, cities of Iran, urban centralization, urban system

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Authors: Marijana Ivanov, Roman Šubić

Abstract:

The single rulebook together with the Single Supervisory Mechanism and the Single Resolution Mechanism - as two main pillars of the banking union, represent important steps towards completing the Economic and Monetary Union. It should provide a consistent application of common rules and administrative standards for supervision, recovery and resolution of banks – with the final aim that a former practice of the bail-out is replaced with the bail-in system through which bank failures will be resolved by their own funds, i.e. with minimal costs for taxpayers and real economy. It has to reduce the financial fragmentation recorded in the years of crisis as the result of divergent behaviors in risk premium, lending activities, and interest rates between the core and the periphery. In addition, it should strengthen the effectiveness of monetary transmission channels, in particular the credit channels and overflows of liquidity on the single interbank money market. However, contrary to all the positive expectations related to the future functioning of the banking union, low and unbalanced economic growth rates remain a challenge for the maintenance of financial stability in the euro area, and this problem cannot be resolved just by a single supervision. In many countries bank assets exceed their GDP by several times, and large banks are still a matter of concern because of their systemic importance for individual countries and the euro zone as a whole. The creation of the SSM and the SRM should increase transparency of the banking system in the euro area and restore confidence that have been disturbed during the depression. It would provide a new opportunity to strengthen economic and financial systems in the peripheral countries. On the other hand, there is a potential threat that future focus of the ECB, resolution mechanism and other relevant institutions will be extremely oriented to the large and significant banks (whereby one half of them operate in the core and most important euro area countries), while it is questionable to what extent the common resolution funds will be used for rescue of less important institutions.

Keywords: banking union, financial integration, single supervision mechanism (SSM)

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Authors: Riccardo Cacciotti, Jiri Frankl, Benjamin Wolf, Michael Machacek

Abstract:

Moisture fluctuations govern the occurrence of fungi-related problems in buildings, which may impose significant health risks for users and even lead to structural failures. Several numerical engineering models attempt to capture the complexity of mold growth on building materials. From real life observations, in cases with suppressed daily variations of boundary conditions, e.g. in crawlspaces, mold growth model predictions well correspond with the observed mold growth. On the other hand, in cases with substantial diurnal variations of boundary conditions, e.g. in the ventilated cavity of a cold flat roof, mold growth predicted by the models is significantly overestimated. This study, founded by the Grant Agency of the Czech Republic (GAČR 20-12941S), aims at gaining a better understanding of mold growth behavior on solid wood, under varying boundary conditions. In particular, the experimental investigation focuses on the response of mold to changing conditions in the boundary layer and its influence on heat and moisture transfer across the surface. The main results include the design and construction at the facilities of ITAM (Prague, Czech Republic) of an innovative device allowing for the simulation of changing environmental conditions in buildings. It consists of a square section closed circuit with rough dimensions 200 × 180 cm and cross section roughly 30 × 30 cm. The circuit is thermally insulated and equipped with an electric fan to control air flow inside the tunnel, a heat and humidity exchange unit to control the internal RH and variations in temperature. Several measuring points, including an anemometer, temperature and humidity sensor, a loading cell in the test section for recording mass changes, are provided to monitor the variations of parameters during the experiments. The research is ongoing and it is expected to provide the final results of the experimental investigation at the end of 2022.

Keywords: moisture, mold growth, testing, wood

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Authors: Emmanuel Dele Balogun

Abstract:

This paper analyzes, using descriptive statistics and econometrics data which span the period 1981 to 2014 to gauge the effects of trade policy incentives on economic growth in Nigeria. It argues that the provided incentives penalize economic growth during pre-trade liberalization eras, but stimulated a rapid increase in total factor productivity during the post-liberalization period of 2000 to 2014. The trend analysis shows that Nigeria maintained high tariff walls in economic regulation eras which became low in post liberalization era. The protections were in favor of infant industries, which were mainly appendages of multinationals but against imports of competing food and finished consumer products. The trade openness index confirms the undue exposure of Nigeria’s economy to the vagaries of international market shocks; while banking sector recapitalization and new listing of telecommunications companies deepened the financial markets in post-liberalization era. The structure of economic incentives was biased in favor of construction, trade and services, but against the real sector despite protectionist policies. Total Factor Productivity (TFP) estimates show that the Nigerian economy suffered stagnation in pre-liberalization eras, but experienced rapid growth rates in post-liberalization eras. The regression results relating trade policy incentives to TFP growth rate yielded a significant but negative intercept suggesting that a non-interventionist policy could be detrimental to economic progress, while protective tariff which limits imports of competing products could spur productivity gains in domestic import substitutes beyond factor growth with market liberalization. The main constraint to the effectiveness of trade policy incentives is the failure of benefiting industries to leverage on the domestic factor endowments of the nation. This paper concludes that there is the need to review the current economic transformation strategies urgently with a view to provide policymakers with a better understanding of the most viable options that could make for rapid success.

Keywords: economic growth, macroeconomic incentives, total factor productivity, trade policies

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Authors: Tamekloe Michael Kossivi, Kenichi Matsui

Abstract:

Irrigation access is one of the essential rural development investment options that can significantly improve smallholder farmers’ agriculture productivity. Investment in irrigation infrastructural development to supply adequate water could improve food security, growth in income for farmers, poverty alleviation, and improve business and livelihood. This paper assesses smallholder farmers’ constraints and the needs to adopt small-scale irrigation for crops production in the South Tongu District of Ghana. The data collection involved database search, questionnaire survey, interview, and field work. The structured questionnaire survey was administered from September to November 2020 among 120 respondents in six purposively sampled irrigation communities in the District. The questions focused on small-scale irrigation development constraints and needs. As a result, we found that the respondents relied mainly on rainfall for agriculture production. They did not have adequate irrigation access. Even though the District is blessed with open arable lands and rich water sources for rice and vegetable production on a massive scale, water sources like the Lower Volta River, Tordzi River, and Avu Lagoon were not close enough to the respondents. The respondents faced inadequate credit support (100%), unreliable rainfall (76%), insufficient water supply (54%), and unreliable water delivery challenges on their farms (53%). Physical constraints for the respondents to adopt irrigation included flood (77%), drought (93%), inadequate irrigation technology (59%), and insufficient technical know-how (65%). Farmers were interested in investing in irrigation infrastructural development to enhance productivity on their farms only if they own the farmlands. External support from donors on irrigation systems did not allow smallholder farmers to control irrigation facilities.

Keywords: constraints, food security, needs, smallholder farmers, small-scale irrigation

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Authors: Praveen Chandramenon, Andrew Gascoyne, Fideline Tchuenbou-Magaia

Abstract:

Aquaponics offers a simple conclusive solution to the food and environmental crisis of the world. This approach combines the idea of Aquaculture (growing fish) to Hydroponics (growing vegetables and plants in a soilless method). Smart Aquaponics explores the use of smart technology including artificial intelligence and IoT, to assist farmers with better decision making and online monitoring and control of the system. Identification of different growth stages of Swiss Chard plants and predicting its harvest time is found to be important in Aquaponic yield management. This paper brings out the comparative analysis of a standard Aquaponics with a Vermiponics (Aquaponics with worms), which was grown in the controlled environment, by implementing IoT and deep learning-based growth stage segregation and harvest time prediction of Swiss Chards before and after applying an optimal freshwater replenishment. Data collection, Growth stage classification and Harvest Time prediction has been performed with and without water replenishment. The paper discusses the experimental design, IoT and sensor communication with architecture, data collection process, image segmentation, various regression and classification models and error estimation used in the project. The paper concludes with the results comparison, including best models that performs growth stage segregation and harvest time prediction of the Aquaponic and Vermiponic testbed with and without freshwater replenishment.

Keywords: aquaponics, deep learning, internet of things, vermiponics

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Authors: Vano Benidze, Ioseb Berikashvili

Abstract:

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

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

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