Search results for: economic perspective

Authors: Monica Arnaudo, Monika Topel, Bjorn Laumert

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Within the Swedish context, the current trend of relatively low electricity prices promotes the electrification of the energy infrastructure. The residential heating sector takes part in this transition by proposing a switch from a centralized district heating system towards a distributed heat pumps-based setting. When it comes to urban environments, two issues arise. The first, seen from an electricity-sector perspective, is related to the fact that existing networks are limited with regards to their installed capacities. Additional electric loads, such as heat pumps, can cause severe overloads on crucial network elements. The second, seen from a heating-sector perspective, has to do with the fact that the indoor comfort conditions can become difficult to handle when the operation of the heat pumps is limited by a risk of overloading on the distribution grid. Furthermore, the uncertainty of the electricity market prices in the future introduces an additional variable. This study aims at assessing the extent to which distributed heat pumps can penetrate an existing heat energy network while respecting the technical limitations of the electricity grid and the thermal comfort levels in the buildings. In order to account for the multi-disciplinary nature of this research question, a cosimulation modeling approach was adopted. In this way, each energy technology is modeled in its customized simulation environment. As part of the cosimulation methodology: a steady-state power flow analysis in pandapower was used for modeling the electrical distribution grid, a thermal balance model of a reference building was implemented in EnergyPlus to account for space heating and a fluid-cycle model of a heat pump was implemented in JModelica to account for the actual heating technology. With the models set in place, different scenarios based on forecasted electricity market prices were developed both for present and future conditions of Hammarby Sjöstad, a neighborhood located in the south-east of Stockholm (Sweden). For each scenario, the technical and the comfort conditions were assessed. Additionally, the average cost of heat generation was estimated in terms of levelized cost of heat. This indicator enables a techno-economic comparison study among the different scenarios. In order to evaluate the levelized cost of heat, a yearly performance simulation of the energy infrastructure was implemented. The scenarios related to the current electricity prices show that distributed heat pumps can replace the district heating system by covering up to 30% of the heating demand. By lowering of 2°C, the minimum accepted indoor temperature of the apartments, this level of penetration can increase up to 40%. Within the future scenarios, if the electricity prices will increase, as most likely expected within the next decade, the penetration of distributed heat pumps can be limited to 15%. In terms of levelized cost of heat, a residential heat pump technology becomes competitive only within a scenario of decreasing electricity prices. In this case, a district heating system is characterized by an average cost of heat generation 7% higher compared to a distributed heat pumps option.

Keywords: cosimulation, distributed heat pumps, district heating, electrical distribution grid, integrated energy systems

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Authors: Jonardan Koner, Basabi Bhattacharya, Avinash Purandare

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The study is focused to find out the impact of infrastructural investment on economic development in Indian states. The study uses panel data analysis to measure the impact of infrastructural investment on Real Gross Domestic Product in Indian States. Panel data analysis incorporates Unit Root Test, Cointegration Teat, Pooled Ordinary Least Squares, Fixed Effect Approach, Random Effect Approach, Hausman Test. The study analyzes panel data (annual in frequency) ranging from 1991 to 2012 and concludes that infrastructural investment has a desirable impact on economic development in Indian. Finally, the study reveals that the infrastructural investment significantly explains the variation of economic indicator.

Keywords: infrastructural investment, real GDP, unit root test, cointegration teat, pooled ordinary least squares, fixed effect approach, random effect approach, Hausman test

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Authors: Ahmed Ghalem

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The research to be explained is a collection of information about several public and private economic institutions. This information is represented in highlighting the large and useful role in adopting the method of electronic marketing. Which is widespread and easy to use among community members at the local and international levels. Which generates large sums of money with little effort and little time, and also satisfies the customers. Do these things, despite what we have said, run the risk of losing large amounts of money in a moment or a short time.

Keywords: economic, finance, bank, development, marketing

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Authors: Susan Burkett-McKee, Bruce Knight, Michelle Vanderburg

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The wellbeing and educational success of high ability students are interrelated concepts with each potentially hindering or enhancing the other. A student’s well-being and educational success are also influenced by intrapersonal and interpersonal factors. This presentation begins with an exploration of the literature pertinent to the wellbeing and educational success of this cohort before an ecological perspective is taken to discuss research into the impact of interactions within the school context. While the literature consistently states that interactions exchanged between high ability students and school community members impact the students’ wellbeing or educational success, no consensus has been reached about whether the impact is positive or negative. Findings from the review shared in this presentation inform an interpretative phenomenological study involving senior secondary students enrolled in inclusive Australian schools to highlight, from the students’ perspective, the ways school-based interactions impact their wellbeing or educational success.

Keywords: educational success, interactions, literature review, wellbeing

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Authors: Yoon Chung Kim

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In this coming aging society, medical device industry is expected to become one of the major industries. Since developing medical devices usually requires technology convergence, research collaboration is important, especially for some small and medium enterprises (SMEs) that do not have enough R&D resources in each related field. Collaboration in medical device development has some unique properties. Since it requires convergence technology, collaboration with different fields, and different types of people are often required. Since it requires clinical test, the development process usually takes longer and collaboration with hospitals is also required. However, despite these importance and uniqueness, collaboration in medical device development has not yet been widely studied. Thus, our research focuses on investigating collaborations in medical device development. For our research, we conducted surveys and interviews, especially with SMEs’ perspective in Korea. The result and discussion will be presented with a major impact factors for collaboration result, as well as future strategies that will improve and strengthen collaboration process in medical devices.

Keywords: medical device, SME, research collaboration, development, clinical

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Authors: Tanya Anand, Arun Kandasamy, L. N. Suman

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Family based therapy for adolescent substance abuse has been studied to be effective in the West. Whereas, based on literature review, family therapy and interventions for adolescent substance abuse is still in its nascent stages in India. A multidimensional perspective to treatment has been indicated consistently in the Indian literature, but standardized therapy which addresses early substance abuse, from a social-ecological perspective has not been developed and studied for Indian population. While numerous researches have been conducted in India on the need of engaging the family in therapy for the purpose of symptom reduction, long-term maintenance of gains, and reducing family burnout, distress and dysfunction; a family based model in the Indian context has not been developed and tried, to the best of our knowledge. Hence, from the aim of building a model to treat adolescent substance abuse within the family context, experts in the area of mental health and deaddiction were interviewed to inform upon the clinical difficulties, challenges, uniqueness that Indian families present with. The integration of indigenous techniques that would be helpful in engaging families of young individuals with difficulties were also explored. Eight experts' who were interviewed, have 10-30 years of experience in working with families and substance users. An open-ended interview was conducted with the experts individually and audio-recorded. The interviews were then transcribed and subjected to qualitative analysis for building a framework and treatment guideline. Additionally, interviews with patients and their parents were conducted to elicit ‘felt needs’. The results of the analysis revealed culture-specific issues widely experienced within Indian families by adolescents and young adults, centering around the theme of Individuation versus collective identity and living. Substance abuse, in this framework, was found to be perceived as one of the maladaptive ways of the youth to disengage from the family and attempt at individuation and the responsibilities that are considered entitlements in the culture. On the other hand, interviews with family members revealed them to be engaging in inconsistent patterns of care and parenting. This was experienced and observed in terms of fostering interdependence within the family, sometimes within adverse socio-economic and societal conditions, where enacted and perceived stigma kept the individual and family members in a vicious loop of maladaptive coping patterns, dysfunctional family arrangements, and often leading to burnout with poor help seeking. The paper inform upon a framework that lays down the foundation for assessments, planning, case management and therapist competencies, required to address alcohol and drug issues in an Indian family context with such etiological factors at its heart. This paper will cover qualitative results of the interviews and present a model that may guide mental health professionals for treatment of adolescent substance use and family therapy.

Keywords: Indian families, family therapy, de-addiction, adolescent, youth, substance abuse, behavioral issues, felt needs, culture, etiology, model building, framework development, interviews

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Authors: Mahnaz Jafari, Parisa Izadpanahi, Francesco Mancini, Muhammad Qureshi

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The advancement in Information Technology (IT) has been an intrinsic element in the developments of the 21st century bringing benefits such as increased economic productivity. However, its widespread application has also been associated with inadvertent negative impacts on society and the environment necessitating selective interventions to mitigate these impacts. This study responded to this need by developing a Green IT Rating Tool (GIRT) for higher education institutions (HEI) in Australia to evaluate the sustainability of IT-related practices from an environmental, social, and economic perspective. Each dimension must be considered equally to achieve sustainability. The development of the GIRT was informed by the views of interviewed IT professionals whose opinions formed the basis of a framework listing Green IT initiatives in order of their importance as perceived by the interviewed professionals. This framework formed the base of the GIRT, which identified Green IT initiatives (such as videoconferencing as a substitute for long-distance travel) and the associated weighting of each practice. The proposed sustainable Green IT model could be integrated into existing IT systems, leading to significant reductions in carbon emissions and e-waste and improvements in energy efficiency. The development of the GIRT and the findings of this study have the potential to inspire other organizations to adopt sustainable IT practices, positively impact the environment, and be used as a reference by IT professionals and decision-makers to evaluate IT-related sustainability practices. The GIRT could also serve as a benchmark for HEIs to compare their performance with other institutions and to track their progress over time. Additionally, the study's results suggest that virtual and cloud-based technologies could reduce e-waste and energy consumption in the higher education sector. Overall, this study highlights the importance of incorporating Green IT practices into the IT systems of HEI to contribute to a more sustainable future.

Keywords: green information technology, international higher-educational institution, sustainable solutions, environmentally friendly IT systems

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Authors: Natasha Lalla

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The impact of free trade on growth has been highly debated and studies have generated varying results. Since the 1970s the Caribbean has engaged in asymmetrical trade with some European states characterized by the Lomé Conventions (1975-1999). These agreements allowed for Caribbean products such as sugar and banana to enter some European countries duty-free and above market prices. With the onset of the World Trade Organization by the mid-1990s, the EU’s banana trade regime was considered illegitimate. Lomé was replaced by the Cotonou agreement (2000-2007), in order to phase out preferences and ensure that the Caribbean trade arrangements were consistent with the international economic environment of trade liberalization. This agreement facilitated signing of the Economic Partnership Agreement in 2008 by both trade blocs whereby Caribbean states must implement freer trade by 2033. The current study is an exploration of how the Organization of the Eastern Caribbean States, the smallest, economically and ecologically vulnerable states of the Caribbean have restructured their trade policies towards the end of preferences and what has been the economic developmental impact of this. This is done by analyzing key reports to understand how these states restructured policies towards freer trade. Secondly, to determine the impact of this, data collected for specific economic indicators were analyzed in a fixed effects panel data framework for the period 1979-2016 on six states of the Organization of the Eastern Caribbean States. The study, therefore, found that freer trade has resulted in negative growth in these states.

Keywords: free trade, growth, OECS, small island developing states

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Authors: Gulnaz Erkomaishvili

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Introduction. One of the most important issues of state economic policy in the 21st century is the problem of environmental protection. The Georgian government considers the green economy as one of the most important means of sustainable economic development and takes the initiative to implement voluntary measures to promote sustainable development. In this context, it is important to promote the development of ecosystem services, clean production, environmental education and green jobs.The development of the green economy significantly reduces the inefficient use of natural resources, waste generation, emissions into the atmosphere and the discharge of untreated water into bodies of water.It is, therefore, an important instrument in the environmental orientation of sustainable development. Objectives.The aim of the paper is to analyze the current status of the green economy in Georgia and identify effective ways to improve the environmental, economic policy of sustainable development. Methodologies: This paper uses general and specific methods, in particular, analysis, synthesis, induction, deduction, scientific abstraction, comparative and statistical methods, as well as experts’ evaluation. bibliographic research of scientific works and reports of organizations was conducted; Publications of the National Statistics Office of Georgia are used to determine the regularity between analytical and statistical estimations. Also, theoretical and applied research of international organizations and scientist-economists are used. Contributions: The country should implement such an economic policy that ensures the transition to a green economy, in particular, revising water, air and waste laws, strengthening existing environmental management tools and introcing new tools (including economic tools). Perfecting the regulatory legal framework of the environmental impact assessment system, which includes the harmonization of Georgian legislation with the requirements of the European Union. To ensure the protection and rational use of Georgia's forests, emphasis should be placed on sustainable forestry, protection and restoration of forests.

Keywords: green economy, environmental protection, environmental protection economic policy, environmental protection policy challanges

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Authors: Madhura Yadav

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Urban redevelopment planning initiatives in developing countries have been largely criticised due to top-down planning approach and lack of involvement of the targeted beneficiaries which have led to a challenging situation which is contrary to the perceived needs of beneficiaries. Urban renewal projects improve the lives of people and meaningful participation of community plays a pivotal role. Public perceptions on satisfaction and participation have been given less priority in the investigation, which hinders effective planning and implementation of urban renewal projects. Moreover, challenges of community participation in urban renewal projects are less documented, particularly in relation to public participation and satisfaction. There is a need for new paradigm shift focusing on community participatory approach in urban renewal projects. The over 125-year-old Bhendi Bazar in Mumbai, India is the country’s first ever cluster redevelopment project, popularly known as Bhendi Bazaar redevelopment and it will be one of the largest projects for urban rejuvenation of one of Mumbai’s oldest and dying inner city areas. The project is led by the community trust, inputs were taken from various stakeholders, including residents, commercial tenants and expert consultants to shape the master plan and design of the project. The project started in 2016 but there is a significant delay in implementing the project. The study aimed at studying and assessing public perceptions on satisfaction and the relationship between community participation and community satisfaction in Bhendi Bazaar of Mumbai, India. Furthermore, the study will outline the challenges and problems of community participation in urban renewal projects and it suggests recommendations for the future. The qualitative and quantitative methods such as reconnaissance survey, key informant interviews, focus group discussions, walking interviews, a narrative inquiry is used for analysis of data. Preliminary findings revealed that all tenants are satisfied for the redevelopment of an area but the willingness of residential tenants to move in transit accommodation has made the projects successful and reductant of some residential and commercial tenants, regulatory provisions rising to face challenges in implementation. Experiences from the case study can help to understand dynamics behind public participation and government. At the same time, they serve as an inspiration and learning opportunity for future projects to ensure that they are sustainable not only from an economic standpoint but also, a social perspective.

Keywords: urban renewal, Bhendi Bazaar, community participation, satisfaction, social perspective

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Authors: Mehdi Ghaemi

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Within the current paper, there is an attempt to examine the legal system that overrules economic stability and legitimate expectations of foreign investment rights. Studies show that Meeting the legitimate expectations of foreign investment is one of the rights and privileges which obviously are to be benefited from by all types of foreign investments. The legitimate expectations of foreign investors are protected and structured strongly with the help of international investment laws. The body of international investment laws is faced with multiple challenges with respect to the legitimate expectations of foreign investments, including the Economic stability and the public interest of the host country, the attitude of the host country towards the legitimate rights and privileges of the foreign investment, the ways to meet and to control those expectations, and also the assessment of the regulations of the host country which would affect the investing bodies within different circumstances.

Keywords: foreign investment, legitimate expectations, regulating investments, international investment

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Authors: Josip Visković, Ana Rimac Smiljanić, Ines Ivić

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Housing loans play an important role in CEE countries’ economies. This fact is based on their share in total loans to households and their importance for economic activity and growth in CEE countries. Therefore, it is important to find out key determinants of housing loans demand in these countries. The aim of this study is to research and analyze the determinants of the demand for housing loans in Croatia. In this regard, the effect of economic activity, loan terms and real estate prices were analyzed. Also, the aim of this study is to find out what motivates people to take housing loans. Therefore, primarily empirical study was conducted among the Croatian residents. The results show that demand for housing loans is positively affected by economic growth, higher personal income and flexible loan terms, while it is negatively affected by interest rate rise.

Keywords: CEE countries, Croatia, demand determinants, housing loans

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Authors: Slimane Souag, Amel Graa, Farid Benhamida

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In this paper we present a new method for solving the secured power flow problem by the economic dispatch using DC power flow method and Generation Shift Distribution Factor (GSDF), in this work we create a graphical interface in LabVIEW as a virtual instrument. Hence the dc power flow reduces the power flow problem to a set of linear equations, which make the iterative calculation very fast and the GSFD matrix present the effects of single and multiple generator MW change on the transmission line. The effectiveness of the method developed is identified through its application to an IEEE-14 bus test system. The calculation results show excellent performance of the proposed method, in regard to computation time and quality of results.

Keywords: electrical power system security, economic dispatch, sensitivity matrix, labview

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Authors: Parma Chakravartti

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The impact of government spending and taxation on economic growth has remained a central issue of fiscal policy analysis. There is a wide range of opinions over the strength of fiscal policy’s effect on macroeconomic variables. It can be argued that the impact of fiscal policy depends on the structure and economic condition of the economy. This study makes an attempt to examine the effect of fiscal policy shocks on growth in India using the structural vector autoregressive model (SVAR), considering data from 1950 to 2019. The study finds that government spending is an important instrument of growth in India, where the share of revenue expenditure to capital expenditure plays a key role. The optimum composition of total expenditure is important for growth and it is not necessarily true that capital expenditure multiplier is more than revenue expenditure multiplier. The study also finds that the impact of public economic activities on private economic activities for both consumption expenditure and gross capital formation of government crowds in private consumption expenditure and private gross capital formation, respectively, thus indicating that government expenditure complements private expenditure in India.

Keywords: government spending, fiscal policy, multiplier, growth

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Authors: Mojahid F. Saeed Osman

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Repairable items inventory system is a management tool used to incorporate all information concerning inventory levels and movements for repaired and new items. This paper presents development of an effective simulation model for managing the inventory of repairable items for a production system where production lines send their faulty items to a repair shop considering the stochastic failure behavior and repair times. The developed model imitates the process of handling the on-hand inventory of repaired items and the replenishment of the inventory of new items using Economic Order Quantity and Reorder Point ordering policy in a flexible and risk-free environment. We demonstrate the appropriateness and effectiveness of the proposed simulation model using an illustrative case problem. The developed simulation model can be used as a reliable tool for estimating a healthy on-hand inventory of new and repaired items, backordered items, and downtime due to unavailability of repaired items, and validating and examining Economic Order Quantity and Reorder Point ordering policy, which would further be compared with other ordering strategies as future work.

Keywords: inventory system, repairable items, simulation, maintenance, economic order quantity, reorder point

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Authors: Elida Cena

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Return migration is receiving increased attention as the phenomenon challenges assumptions of natural ‘homecomings’. This talk outlines preliminary findings from an ongoing PhD study which explores return migration of Albanian migrants (aged 30-50 years) and their children (aged 7-18 years). Participants (n=51) were purposively recruited from two Albanian cities with divergent social and economic conditions, and the majority had returned from Greece following the recent economic downturn in that country. Qualitative data were collected through in-depth interviews with respondents aged 13 years and above, and were augmented with focus groups and family case studies. Data collection for case studies was aided by photo elicitation, interviews and participatory techniques (drawing) were employed for children aged 7-12 years. Through a multidisciplinary perspective, findings will uncover experiences of migrants and children upon return, the quest to identify with the originating country and create a sense of belongingness. Narrative analysis reveals that the abrupt return was associated with ambivalent feelings and disillusionment about their (re)settlement for both younger and older participants. Faced with unexpected realities and lack of opportunities, particularly for the children of migrants, Albania is viewed as a ‘transit country’, a temporary solution to escape the crisis in the destination country and move to a more developed western country. Adult return migrants articulate lack of employment and insecurity for the future. Apart from school difficulties, children experience isolation and social exclusion, marked by stigmatized labelling from other peers which exacerbates their belonging. Such mobilities have had deeper effects in complicating family relationships as influenced by many disintegration factors. Feelings of alienation and being emigrant for the second time were common in participants' accounts. Findings concerning the difficulties of individuals (re)connecting with their ethnic background and the impact on their identities are discussed in relation to the literature on return migration and identification.

Keywords: return migration, belonging, identity, disintegration, integration

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Authors: Benmessaoud Hassen

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We propose in this study to address the impact of socio-economic and environmental impact on the physical environment, especially their spatiotemporal dynamics in semi-arid and arid eastern Aurès. Including 11 municipalities, the study area spreads out over a relatively large surface area of about 60.000 ha. The hindsight is quite important and is determined by 03 days of analysis of environmental variation spread over thirty years (between 1987 and 2007). The multi-source data acquired in this context are integrated into a geographic information system (GIS).This allows, among other indices to calculate areas and classes for each thematic layer of the 4 layers previously defined by a method inspired MEDALUS (Mediterranean Desertification and Land Use).The database created is composed of four layers of information (population, livestock, farming and land use). His analysis in space and time has been supplemented by a validation of the ground truth. Once the database has corrected it used to develop the comprehensive map with the calculation of the index of socio-economic and environmental (ISCE). The map supports and the resulting information does not consist only of figures on the present situation but could be used to forecast future trends.

Keywords: impact of socio-economic and environmental, spatiotemporal dynamics, semi-arid environments, GIS, Eastern Aurès

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Authors: Glavan Claudiu

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My paper focuses on the cultural semiotic interpretation of the Romanian costume from Banat region, from the perspective of Lotman’s semiotic theory of culture. Using Lotman’s system we will analyse the level of language, text and semiosphere within the unity of Banat’s traditional costume. In order to establish a common language and to communicate, the forms and chromatic compositions were expressed through symbols, which carried semantic meanings with an obvious significant semantic load. The symbols, used in this region, receive a strong specific ethnical mark in its representation, in its compositional and chromatic complexity, in accordance with the values and conceptions of life for the people living here. Thus the signs become a unifying force of this ethnic community. Associated with the signs, were the fabrics used in manufacturing the costumes and the careful selections of colours. For example, softer fabrics like silk associated with red vivid colours were used for young woman sending the message they ready to be married. The unity of these elements created the important message that you were sending to your community. The unity of the symbol, fabrics and choice of colours used on the costume carried out an important message like: marital status, social position, or even the village you belonged to. Using Lotman’s perspective on cultural semiotics we will read and analyse the symbolism of the traditional Romanian art from Banat. We will discover meaning in the codified existence of ancient solar symbols, symbols regarding fertility, religious symbols and very few heraldic symbols. Visual communication makes obvious the importance of semiotic value that the traditional costume is carrying from our ancestors.

Keywords: traditional costume, semiotics, Lotman’s theory of culture, traditional culture, signs and symbols

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Authors: Muhamad Sahir Bin Ahmad Shatiry, Wan Normeza Wan Zakaria, Mohamad Zaki Hassan

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The pandemic Covid19 has significantly impacted the world; the spreading of the Covid19 virus initially from China has dramatically impacted the world's economy. Therefore, the world reacts with establishing the new way or norm in daily life. The rapid rise of the latest technology has been seen by introducing many technologies to ease human life to have a minor contract between humans and avoid spreading the virus Covid19. Digital twin technologies are one of the technologies created before the pandemic Covid19 but slow adoption in the industry. Throughout the Covid19, most of the companies in the world started to explore to use it. The digital twin technology provides the virtual platform to replicate the existing condition or setup for anything such as office, manufacturing line, factories' machine, building, and many more. This study investigates the effect on the economic perspective after the companies use the Digital Twin technology in the industry. To minimize the contact between humans and to have the ability to operate the system digitally remotely. In this study, the explanation of the digital twin technology impacts the world's microeconomic and macroeconomic.

Keywords: productivity, artificially intelligence, IoT, digital twin

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Authors: G. Erkomaishvili

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The paper discusses economic policy of Georgia aiming to increase national competitiveness as well as the tools and means which will help to improve the competitiveness of the country. The sectors of the economy, in which the country can achieve the competitive advantage, are studied. It is noted that the country’s economic policy plays an important role in obtaining and maintaining the competitive advantage - authority should take measures to ensure high level of education; scientific and research activities should be funded by the state; foreign direct investments should be attracted mainly in science-intensive industries; adaptation with the latest scientific achievements of the modern world and deepening of scientific and technical cooperation. Stable business environment and export oriented strategy is the basis for the country’s economic growth. As the outcome of the research, the paper suggests the strategy for improving competitiveness in Georgia; recommendations are provided based on relevant conclusions.

Keywords: competitive advantage, competitiveness, competitiveness improvement strategy, competitiveness of Georgia

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Authors: Kiyohiro Yamazaki

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A purpose of this study is to examine how a firm without fundamental technology is able to gain the competitive advantage. This paper examines three case studies, Sony in the flat display TV industry, Casio in the digital camera industry and Nintendo in the home game machine industry. This paper maintain the firms without fundamental technology construct two advantages, economic advantage and organizational advantage. An economic advantage involves the firm can select either high-tech or cheap devices out of several device makers, and change the alternatives cheaply and quickly. In addition, organizational advantage means that a firm without fundamental technology is not restricted by organizational inertia and cognitive restraints, and exercises the characteristic of strength.

Keywords: firm without fundamental technology, economic advantage, organizational advantage, Sony, Casio, Nintendo

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Authors: Nur Azzammudin Rahmat, Ismail Musirin, Ahmad Farid Abidin

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Economic load dispatch is performed by the utilities in order to determine the best generation level at the most feasible operating cost. In order to guarantee satisfying energy delivery to the consumer, a precise calculation of generation level is required. In order to achieve accurate and practical solution, several considerations such as prohibited operating zones, valve-point effect and ramp-rate limit need to be taken into account. However, these considerations cause the optimization to become complex and difficult to solve. This research focuses on the valve-point effect that causes ripple in the fuel-cost curve. This paper also proposes Differential Evolution Immunized Ant Colony Optimization (DEIANT) in solving economic load dispatch problem with valve-point effect. Comparative studies involving DEIANT, EP and ACO are conducted on IEEE 30-Bus RTS for performance assessments. Results indicate that DEIANT is superior to the other compared methods in terms of calculating lower operating cost and power loss.

Keywords: ant colony optimization (ACO), differential evolution (DE), differential evolution immunized ant colony optimization (DEIANT), economic load dispatch (ELD)

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Authors: Sheraz Ahmad Choudhary

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Health plays a vital role in the growth. The study examined the effect of health indicator on the growth of Pakistan. ARDL model is used to check the growth rate which is affected by the health by using the time series date of Pakistan from 1990 to 2017. Health indicator, fertility rate, life expectancy, foreign direct investment, and infant mortality rate are variables Where the unit root is applied to check the stationarity of the model. consequences find a significant relationship between GDP, foreign direct investment, fertility rate, and life expectancy in the short run, whereas mortality rate effected negatively to economic growth but have significant values. In the long run, foreign direct investment (FDI) and fertility rate(FR) have significantly influenced the GDP. The results show thateconomic growth is positively stimulated by most of the health indicators. The study accomplishes that nations can achieve a high level of economic growth by increasing wellbeing human capital.

Keywords: economic growth, health expenditures, fertility rate, human capital, life expectancy, foreign direct investment, and infant mortality rate

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Authors: Syazwani Ramli, Norhidayu Muhamad Zain

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Nowadays, the use of gelatin as biomaterials in tissue engineering are evolving especially in skin graft and wound dressing applications. Towards year 2018, Malaysia is in the way of planning to get the halal certification for biomedical device in order to cater the needs of Muslims and non-Muslims in Malaysia. However, the use of gelatins in tissue engineering are mostly derived from non-halal sources. Currently, gelatin production mostly comes from mammalian gelatin sources. Moreover, within these past years, just a few studies of the uses of gelatin in tissue engineering from halal perspective has been studied. Thus, this paper aims to give overview of the use of gelatin from different sources from halal perspectives. This review also discussing the current status of halal for the emerging biomedical devices. In addition, the different sources of gelatin used in tissue engineering are being identified and provides better alternatives for halal gelatin. Cold- water fish skin gelatin could be an effective alternative to substitute the mammalian sources. Therefore, this review is important because the information about the halal biomedical devices will delighted Muslim consumers and give better insight of halal gelatin in tissue engineering application.

Keywords: biomedical device, gelatin, halal, skin graft, tissue engineering

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Authors: M. V. Manoj Kumar, Likewin Thomas, Annappa

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Process mining provides methods and techniques for analyzing event logs recorded in modern information systems that support real-world operations. While analyzing an event-log, state-of-the-art techniques available in process mining believe that the operational process as a static entity (stationary). This is not often the case due to the possibility of occurrence of a phenomenon called concept drift. During the period of execution, the process can experience concept drift and can evolve with respect to any of its associated perspectives exhibiting various patterns-of-change with a different pace. Work presented in this paper discusses the main aspects to consider while addressing concept drift phenomenon and proposes a method for detecting and localizing the sudden concept drifts in control-flow perspective of the process by using features extracted by processing the traces in the process log. Our experimental results are promising in the direction of efficiently detecting and localizing concept drift in the context of process mining research discipline.

Keywords: abrupt drift, concept drift, sudden drift, control-flow perspective, detection and localization, process mining

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Authors: Boopen Seetanah, R. V. Sannassee, Sheereen Fauzel, Robin Nunkoo

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The bulk of research on the impact of research and development (R&D) has been carried out in developed economies where the intensity of R&D expenditure has been relatively high and stable for many years. However, there is a paucity of similar studies in developing countries. In this paper, we provide empirical estimates of the impact of R&D investment on economic growth in a developing African economy (Mauritius) where R&D expenditure intensity has been low initially, but rising, albeit moderately in recent years. Using a dynamic time series analysis over the period 1980 to 2014 in a Vector Autoregressive framework, R & D is shown to have a positive and significant effect on the economic progress of the island, although the impact is considerably less when compared to both other ingredients of growth and also to reported elasticities fromdeveloped economies . Interestingly, there is evidence of bicausality between R & D and growth. furthermore, R & D positively impacts on both domestic and foreign investment, suggesting the possibilities of indirect effects.

Keywords: R & D, VECM, Africa, Mauritius

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Authors: Aminu Fagge Muhammad

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The digital economy is fast becoming the most innovative and widest reaching economy in the world, especially in developing countries. The paper aimed at examining role of digital economy in the emerging countries like Nigeria. The methodology used in the study is Business Model Perspective: lying between the process and structural perspectives, bring in the idea of the new business models that are being enabled e.g. e-business or e-commerce. The paper concluded that, the policy objectives and measures, and processes and structures necessary to enhance digital economy growth and its contribution to socio-economic development. The finding reveals that, digital infrastructure is in part incomplete, costly and poorly-performing in emerging economies like Nigeria. The wider digital ecosystem suffers a shortfall in human capabilities, weak financing, and poor governance. It is also found that, Growth in the digital economy is exacerbating digital exclusion, inequality, adverse incorporation and other digital harms. It is recommended that, government in partnership with private sector should build strong local infrastructure to enable broadband availability and accessibility and to create an enabling environment for strong competition in the telecom and technology ecosystem.

Keywords: Digital Economy, Emerging Countries, Business Model , Nigeria

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Authors: Mohammad Maruf Hasan

Abstract:

Foreign Direct Investment (FDI) has been increased at a remarkable position around the globe in which emerging economies are getting more FDI compared to industrialized economies. This study aims to examine the determinants of inward FDI flows in Bangladesh. To estimate the long and short-run impact of the FDI determinants for 1996-2020, we employed the Autoregressive-Distributed Lag (ARDL) model. Results show that: (1) macroeconomic determinants, such as economic growth, infrastructure, and market size, have a significant and strong positive effect.(2) Inflation exchange rate shows insignificant effects, while trade openness has mixed (short-run negative, long-run positive) effects on FDI inflows in both the long and short run. (3) Current institutional determinants rule of law has a positive effect on FDI inflows but is statistically insignificant, political stability has a negative, and the rule of law has a considerable beneficial impact on inflows of FDI. (4) The macroeconomic factors have been determined to impact Bangladesh's FDI inflows. Finally, a stable macroeconomic climate is more effective at luring FDI, as this study confirms. From a policy perspective, this study will help the government and policymakers to make a new investment policy.

Keywords: determinants, FDI, ARDL, Bangladesh

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Authors: Doruk Atahan Erbas

Abstract:

This paper concerns the early writings of Karl Marx, specifically The Economic and Philosophic Manuscripts of 1844, The German Ideology and Theses on Feuerbach. The two crucial themes of these early writings are the doctrine called historical materialism and, as a worker, the worker's resistance towards the current condition of society out of the division of labor. After Marx, including his closest friend Friedrich Engels, some of the philosophers, activists, and politicians have considered the historical materialism as a rigorous science which includes the explanation of historical causality manifested in the social, political sphere. However, this consideration, by its description as a science, is completely alienated from the concept of subject (as the suffering worker) nothing other than one of the abovementioned themes. Therefore, from this perspective, Marx's early doctrine seems to be self contradictory. The alternative approach which will be introduced in this essay offers a new basis for a correlation between the concept of subject and historical materiality by means of investigating materiality as phenomenality and ultimately rereading Marx as a creator of an existential subject surrounded by phenomenality. So that, it provides an opportunity to rethink the concept of historical materiality from an existential point of view.

Keywords: existentialism, Karl Marx, materiality, phenomenality, subject

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Authors: Afees Adebayo Salam

Abstract:

This paper attempts an in-depth analysis of the economic impact of Ogbomoso migrant community in the Jos metropolis. It discusses the factors that motivated a sizeable number of Ogbomoso people (from southwestern Nigeria) to leave their hometown for a new place/space in Jos (northern Nigeria). It examines the historical antecedent of Ogbomoso migrants in northern Nigeria with emphasis on Jos metropolis. The movement of Ogbomoso migrants to Jos was dictated by the economic and social challenges of colonial and post-colonial periods. The political crisis of the 1960s was a contributory factor to the process of Ogbomoso migration to other parts of Nigeria. In the aftermath, many people migrated from Ogbomoso to different parts of the country and beyond to seek for better economic opportunities. The establishment of Ogbomoso migrant community in Jos was dated back to the colonial era when taxation was introduced by the British. Many people could not pay these taxes from their peasant farming activities, while some embarked on migration to places such as Jos, Kaduna, Kano, Keffi and Bauchi due to the harsh economic situation at home. Their settlement in Jos brought about success in several spheres of human endeavours. Ogbomoso migrants dominated both paid jobs and private business sector such as textile merchants, food stuff sellers, herbalists, printers, transporters, and religious missionaries, as well as clerical officers in the government establishments. Their remittances were invested in different sectors of Ogbomoso economy. The migrants had in one way or the other contributed to the socio-economic development of their host community in Jos as entrepreneurs. Branches of such industries were located in their hometown of Ogbomoso as a clear demonstration of community development. The remittance pattern of the migrants has transformed Ogbomoso to enviable position. Moreover, the economic success of Ogbomoso migrants over the period under review indicates the process of nation building due to peaceful nature of inter-ethnic engagements between Ogbomoso migrants and their host community in Jos. Therefore, the paper makes use of oral, archival and secondary sources to analyse the processes of migration and its economic impact. Oral interviews were conducted in Ogbomoso town with veteran migrants and their family members. Interviews were also conducted in Jos with the indigenous host community as well as other urban residents. Archival materials were obtained from Arewa House Archives and the National Archives, Kaduna and the National Archives, Ibadan.

Keywords: Ogbomoso migrants, Jos metropolis, community development, economic impact

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