Search results for: economic value added

Authors: Daniel Olshansky, Ramiro Rodrıguez Colmeiro

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Relay Mining presents a scalable solution employing probabilistic mechanisms and crypto-economic incentives to estimate RPC volume usage, facilitating decentralized multitenant rate limiting. Network traffic from individual applications can be concurrently serviced by multiple RPC service providers, with costs, rewards, and rate limiting governed by a native cryptocurrency on a distributed ledger. Building upon established research in token bucket algorithms and distributed rate-limiting penalty models, our approach harnesses a feedback loop control mechanism to adjust the difficulty of mining relay rewards, dynamically scaling with network usage growth. By leveraging crypto-economic incentives, we reduce coordination overhead costs and introduce a mechanism for providing RPC services that are both geopolitically and geographically distributed.

Keywords: remote procedure call, crypto-economic, commit-reveal, decentralization, scalability, blockchain, rate limiting, token bucket

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Authors: Ananya Mitra Pramanik, Anjali Agrawal

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The objective of this paper is to trace the origin and evolution of clothing in the Indian Subcontinent. The paper seeks to understand the need for mankind to shed his natural state and adopt clothing as an inseparable accessory for his body. It explores the various theories of the origin of clothing. The known journey of clothing of this region started from the Indus Valley Civilisation which dates back to 2500 BC. Due to the weather conditions of the region, few actual samples have survived, and most of the knowledge of textiles is derived from the sculptures and other remains from this era. The understanding of textiles of the period after the Indus Valley Civilisation (2500-1500 BC) till the Mauryan and the Sunga Period (321-72 BC) comes from literary sources, e.g., Vedas, Smritis, the eminent Indian epics of the Ramayana and the Mahabharata, forest books, etc. Textile production was one of the most important economic activities of this region. It was next only to agriculture. While attempting to trace the history of clothing the paper draws the evolution of Indian traditional fashion through the change of rulers of this region and the development of the modern Indian traditional dress, i.e., sari, salwar kamiz, dhoti, etc. The major aims of the study are to define the different time periods chronologically and to inspect the major changes in textile fashion, manufacturing, and materials that took place. This study is based on secondary research. It is founded on data taken primarily from books and journals. Not much of visuals are added in the paper as actual fabric references are near nonexistent. It gives a brief history of the ancient textiles of India from the time frame of 2500 BC-8th C AD.

Keywords: evolution, history, origin, textiles

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Authors: Muhammad Ali Khan

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Education is a word has been derived from Latin word "Educare", means to train. Therefore, the harmonious growth of the potentialities for achieving the qualities desirable and useful in the human society is called education. It is claimed that by educating women we can develop our economy, family health and decrease population growth. To explore the socio-economic impact of education on urban women. A prospective study design was used. Over a period of six months 50 respondents were randomly selected from Hayat Abad, an urban city in the North West of Pakistan. A questionnaire was used to explore marital, educational, occupational, social, economical and political status of urban women. Of the total, 50% (25) were employed, where 56% were married and 44% unmarried. Of the employed participants, 56% were teachers fallowed by social worker 16%. Monthly income was significantly high (p=001) of women with master degree. Understanding between wife and husband was also very significant in women with masters. . 78% of employed women replied that Parda (Hija) should be on choice not imposed. 52% of educated women replied participation in social activates, such as parties, shopping etc. Education has a high impact on urban women because it is directly related to employment, decision of power, economy and social life. Urban women with high education have significant political awareness and empowerment. Improving women educational level in rural areas of Pakistan is the key for economic growth and political empowerment

Keywords: women, urban, Pakistan, socio economic

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Authors: Sidiqat A. Aderinoye-Abdulwahab, Lateef L. Adefalu, Rashid S. Adisa, Felix O. Oladipo, Tawakalitu A. Dolapo

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This study investigates whether the rural women in Nigeria have access to productive resources such as land, livestock, and capital in order to determine their level of socio-economic empowerment. The study adopted a case study design while employing qualitative and quantitative methods of data collection. A multi-stage sampling technique was used to identify 7 locations, where 88 women were selected based on simple random sampling technique. Focus group discussions and questionnaire were used to elicit information. Gender analysis framework was used to explore and analyse the data generated for the study. The study found that the rural women desire to engage in gainful economic activities. However, cultural barriers prevent them from adequately exploring livelihood-improving opportunities. It was established that ownership of productive resources such as land and livestock can enhance their livelihoods provided cultural and governance issues do not deter them from accessing the services. It was therefore recommended that appropriate policies that will favour the access and ownership of assets by women so as to empower them need to be in place. The study provides a nuanced perspective on the influence and relevance of possession of physical assets in enhancing women’s livelihood diversification and overall development of rural livelihoods.

Keywords: livelihoods, productivity, development, economic activities, socio-economic empowerment

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Authors: Sibusiso Trevor Tshabalala, Samuel Lubbe, Vince Vuledzani Ndou

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Dependency on chemicals has had many disadvantages in pest management control strategies. Such genetic rodenticide resistance and secondary exposure risk are what is currently being experienced. Emphasis on integrated pest management suggests that to control future pests, early intervention and economic threshold development are key starting points in crop production. The significance of this research project is to help establish a relationship between Giant African Land Snail (Achatina Fulica) solution extract, its shell chemical properties, and farmer’s perceptions of biological control in eThekwini Municipality Agri-hubs. A mixed design approach to collecting data will be explored using a trial layout in the field and through interviews. The experimental area will be explored using a split-plot design that will be replicated and arranged in a randomised complete block design. The split-plot will have 0, 10, 20 and 30 liters of water to one liter of snail solution extract. Plots were 50 m² each with a spacing of 12 m between each plot and a plant spacing of 0.5 m (inter-row) ‘and 0.5 m (intra-row). Trials will be irrigated using sprinkler irrigation, with objective two being added to the mix every 4-5 days. The expected outcome will be improved soil fertility and micro-organisms population proliferation.

Keywords: giant african land snail, integrated pest management, photosynthesis, genetic rodenticide resistance, control future pests, shell chemical properties

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Authors: Md. S. Sabuz

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Bangladesh, a South Asian developing country, has achieved a remarkable breakthrough in health indicators during the last four decades despite immense income inequality. This phenomenon results in the mystical exclusion of marginalized people from obtaining health care facilities. However, the persistence of exclusion of the disadvantaged remains troubling. Exclusion occurs from occupational inferiority, pay and wage differences, educational backwardness, gender disparity to urban-rural complexity and eliminate the unprivileged from seeking and availing the health services. Evidence from Bangladesh shows that many sick people prefer to die at home without securing medical services because in previous times they were not treated well, not because the medical facilities were inadequate or antediluvian but the socio-economic class allows them to receive obdurate treatment. Furthermore, government and policymakers have given enormous emphasis on infrastructural development and achieving health indicators instead of ensuring quality services and inclusiveness of people from all spheres. Therefore, it is high time to address the issues concerning this and highlight the impact of economic status on health status in a sociological perspective. The objective of this study is to consider ways of assessing and exploring the impact of economic status for instance: occupational status, pay and wage variable, on health status in the context of Bangladesh. The hypotheses are that there are a significant number of factors affecting economic status which are impactful for health status eventually, but acute income inequality is a prominent factor. Illiteracy, gender disparity, remoteness, incredibility on services, superior costs, superstition etc. are the dominant indicators behind the economic factors influencing the health status. The chosen methodologies are a qualitative and quantitative approaches to accomplish the research objectives. Secondary sources of data will be used to conduct the study. Surveys will be conducted on the people who have ever been through the health care facilities and people from the different socio-economic and cultural backgrounds. Focus group discussions will be conducted to acquire the data from different cultural and regional citizens. The findings show that 48% of people who are from disadvantaged communities have been deprived of proper health care facilities. The general reasons behind this are the higher cost of medicines and other equipment. A significant number of people are unaware of the appropriate facilities. It was found that the socio-economic variables are the main influential factors that work as the driving force for both economic dimension and health status. Above all regional variables and gender, dimensions have an enormous effect on determining the health status of an individual or community. Amidst many positive achievements for example decrease in the child mortality rate, an increase in the immunization programs of the child etc., the inclusiveness of all classes of people in health care facilities has been overshadowed in Bangladesh. However, this phenomenon along with the socio-economic and cultural phenomena significantly demolishes the quality and inclusiveness of the health status of people.

Keywords: cultural context of health, economic status, gender and health, rural health care

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Authors: Ashenafi Beyene Fanta, Daniel Makina

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Economic theory predicts that finance promotes economic growth. Although the finance-growth link is among the most researched areas in financial economics, our understanding of the link between the two is still incomplete. This is caused by, among others, wrong econometric specifications, using weak proxies of financial development, and inability to address the endogeneity problem. Studies on the finance growth link in South Africa consistently report economic growth driving financial development. Early studies found that economic growth drives financial development in South Africa, and recent studies have confirmed this using different econometric models. However, the monetary aggregate (i.e. M2) utilized used in these studies is considered a weak proxy for financial development. Furthermore, the fact that the models employed do not address the endogeneity problem in the finance-growth link casts doubt on the validity of the conclusions. For this reason, the current study examines the finance growth link in South Africa using data for the period 1990 to 2011 by employing a generalized method of moments (GMM) technique that is capable of addressing endogeneity, simultaneity and omitted variable bias problems. Unlike previous cross country and country case studies that have also used the same technique, our contribution is that we account for the development of bond markets and non-bank financial institutions rather than being limited to stock market and banking sector development. We find that bond market development affects economic growth in South Africa, and no similar effect is observed for the bank and non-bank financial intermediaries and the stock market. Our findings show that examination of individual elements of the financial system is important in understanding the unique effect of each on growth. The observation that bond markets rather than private credit and stock market development promotes economic growth in South Africa induces an intriguing question as to what unique roles bond markets play that the intermediaries and equity markets are unable to play. Crucially, our results support observations in the literature that using appropriate measures of financial development is critical for policy advice. They also support the suggestion that individual elements of the financial system need to be studied separately to consider their unique roles in advancing economic growth. We believe that our understanding of the channels through which bond market contribute to growth would be a fertile ground for future research.

Keywords: bond market, finance, financial sector, growth

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Authors: Ghizlane Barzi, Zineb Bamousse

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In an increasingly volatile global economic context characterized by recurring crises, the financial function of companies is called upon to play a strategic role not only in resource management but also in organizational resilience. The emergence of financial technologies (fintech) offers innovative tools capable of transforming this function by enhancing the efficiency of financial processes and increasing companies' ability to adapt and overcome economic shocks. However, despite the rapid rise of fintechs and their growing adoption by companies, there remain uncertainties regarding the real impact of these innovations on the financial resilience of organizations. Indeed, how do fintech-driven innovations transform the financial function, and to what extent does this transformation contribute to strengthening the financial resilience of companies in the face of contemporary crises? This research aims to explore these questions by examining the interrelationships between the financial function, fintech innovations, and corporate resilience, in order to identify optimization levers that could be adopted for better financial risk management.

Keywords: finance, financial function, fintech, resilience, innovation

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Authors: Rafael Alvarenga, Hubert Herbaux, Laurent Linguet

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The uncertainty concerning the power production of intermittent renewable energy is one of the main barriers to the integration of such assets into the power grid. Efforts have thus been made to develop methods to quantify this uncertainty, allowing producers to ensure more reliable and profitable engagements related to their future power delivery. Even though a diversity of probabilistic approaches was proposed in the literature giving promising results, the added value of adopting such methods for scheduling intermittent power plants is still unclear. In this study, the profits obtained by a decision-making model used to optimally schedule an existing PV power plant connected to batteries are compared when the model is fed with deterministic and probabilistic forecasts generated with two of the most recent methods proposed in the literature. Moreover, deterministic forecasts with different accuracy levels were used in the experiments, testing the utility and the capability of probabilistic methods of modeling the progressively increasing uncertainty. Even though probabilistic approaches are unquestionably developed in the recent literature, the results obtained through a study case show that deterministic forecasts still provide the best performance if accurate, ensuring a gain of 14% on final profits compared to the average performance of probabilistic models conditioned to the same forecasts. When the accuracy of deterministic forecasts progressively decreases, probabilistic approaches start to become competitive options until they completely outperform deterministic forecasts when these are very inaccurate, generating 73% more profits in the case considered compared to the deterministic approach.

Keywords: PV power forecasting, uncertainty quantification, optimal scheduling, power systems

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Authors: Mariusz Hofman

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The paper ‘Theoretical framework for value creation in Project-Oriented Companies’ is designed to determine, how organisations create value and whether this allows them to achieve market success. An assumption has been made that there are two routes to achieving this value. The first one is to create intangible assets (i.e. the resources of human, structural and relational capital), while the other one is to create added value (understood as the surplus of revenue over costs). It has also been assumed that the combination of the achieved added value and unique intangible assets translates to the success of a project-oriented company. The purpose of the paper is to present hypothetical and deductive model which describing the modus operandi of such companies and approach to model operationalisation. All the latent variables included in the model are theoretical constructs with observational indicators (measures). The existence of a latent variable (construct) and also submodels will be confirmed based on a covariance matrix which in turn is based on empirical data, being a set of observational indicators (measures). This will be achieved with a confirmatory factor analysis (CFA). Due to this statistical procedure, it will be verified whether the matrix arising from the adopted theoretical model differs statistically from the empirical matrix of covariance arising from the system of equations. The fit of the model with the empirical data will be evaluated using χ2, RMSEA and CFI (Comparative Fit Index). How well the theoretical model fits the empirical data is assessed through a number of indicators. If the theoretical conjectures are confirmed, an interesting development path can be defined for project-oriented companies. This will let such organisations perform efficiently in the face of the growing competition and pressure on innovation.

Keywords: value creation, project-oriented company, structural equation modelling

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Authors: Xiujing Chen, Thammananya Sakcharoen, Wilailuk Niyommaneerat

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China's tourism industry is in a state of shock and recovery, although COVID-19 has brought great impact and challenges to the tourism industry. The theory of sustainable development originates from the contradiction of increasing awareness of environmental protection and the pursuit of economic interests. The sustainable development of tourism should consider social, economic, and environmental factors and develop tourism in a planned and targeted way from the overall situation. Guilin is one of the popular tourist cities in China. However, there exist several problems in Guilin tourism, such as low quality of scenic spot construction and low efficiency of tourism resource development. Due to its unwell-managed, Guilin's tourism industry is facing problems such as supply and demand crowding pressure for tourists. According to the data from 2009 to 2019, there is a change in the degree of sustainable development of Guilin tourism. This research aimed to evaluate the sustainable development state of Guilin tourism using the DPSIR (driving force/pressure/state/impact/response) framework and to provide suggestions and recommendations for sustainable development in Guilin. An improved TOPSIS (technology for order preference by similarity to an ideal solution) model based on the entropy weights relationship is applied to the quantitative analysis and to analyze the mechanisms of sustainable development of tourism in Guilin. The DPSIR framework organizes indicators into sub-five categories: of which twenty-eight indicators related to sustainable aspects of Guilin tourism are classified. The study analyzed and summarized the economic, social, and ecological effects generated by tourism development in Guilin from 2009-2019. The results show that the conversion rate of tourism development in Guilin into regional economic benefits is more efficient than that into social benefits. Thus, tourism development is an important driving force of Guilin's economic growth. In addition, the study also analyzed the static weights of 28 relevant indicators of sustainable development of tourism in Guilin and ranked them from largest to smallest. Then it was found that the economic and social factors related to tourism revenue occupy the highest weight, which means that the economic and social development of Guilin can influence the sustainable development of Guilin tourism to a greater extent. Therefore, there is a two-way causal relationship between tourism development and economic growth in Guilin. At the same time, ecological development-related indicators also have relatively large weights, so ecological and environmental resources also have a great influence on the sustainable development of Guilin tourism.

Keywords: DPSIR framework, entropy weights analysis, sustainable development of tourism, TOPSIS analysis

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Authors: Brenda Thean I. Lim, Safurah Jaafar

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Augmented reality (AR) in the healthcare industry has been gaining popularity in recent years, principally in areas of medical education, patient care and digital health solutions. One of the drivers in deciding to invest in AR technology is the potential economic benefits it could bring for patients and healthcare providers, including the pharmaceutical and medical technology sectors. Works of literature have shown that the benefits and impact of AR technologies have left trails of achievements in improving medical education and patient health outcomes. However, little has been published on the economic impact of AR in healthcare, a very resource-intensive industry. This systematic review was performed on studies focused on the benefits and impact of AR in healthcare to appraise if they meet the founded quality criteria so as to identify relevant publications for an in-depth analysis of the economic impact assessment. The literature search was conducted using multiple databases such as PubMed, Cochrane, Science Direct and Nature. Inclusion criteria include research papers on AR implementation in healthcare, from education to diagnosis and treatment. Only papers written in English language were selected. Studies on AR prototypes were excluded. Although there were many articles that have addressed the benefits of AR in the healthcare industry in the area of medical education, treatment and diagnosis and dental medicine, there were very few publications that identified the specific economic impact of technology within the healthcare industry. There were 13 publications included in the analysis based on the inclusion criteria. Out of the 13 studies, none comprised a systematically comprehensive cost impact evaluation. An outline of the cost-effectiveness and cost-benefit framework was made based on an AR article from another industry as a reference. This systematic review found that while the advancements of AR technology is growing rapidly and industries are starting to adopt them into respective sectors, the technology and its advancements in healthcare were still in their early stages. There are still plenty of room for further advancements and integration of AR into different sectors within the healthcare industry. Future studies will require more comprehensive economic analyses and costing evaluations to enable economic decisions for or against implementing AR technology in healthcare. This systematic review concluded that the current literature lacked detailed examination and conduct of economic impact and benefit analyses. Recommendations for future research would be to include details of the initial investment and operational costs for the AR infrastructure in healthcare settings while comparing the intervention to its conventional counterparts or alternatives so as to provide a comprehensive comparison on impact, benefit and cost differences.

Keywords: augmented reality, benefit, economic impact, healthcare, patient care

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Authors: Mukadder Baran, Medine Baran Türkan, Gülbeyaz Baran Durmaz

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The objective of this work is to collect and evaluate the thoughts about Hakkari's education system of the highschool pupils of the city of Hakkari. To this end, semi-directed questionnaire forms were used. The samples of this work are made up of 24 pupils studying at four different highschools. In order to analyze the data collected, the content analysis method was used. According to the results of this work, the following factors bear an influence on the conditions of education in Hakkari: political environment, feudal resources, family, teacher, geographic conditions, social environment, transportation, difficulties related to economic resources or the access to information. Proceeding from these results, we believe that the bettermen of the conditions of education in Hakkari will improve the pupils' level of achievement. In turn, the rise in educational levels will lay the ground for a more effective participation in democratic processes. In this manner, the rise in educational level will result in a progress in society and ensure the more active participation of individuals in the socio-economic process.

Keywords: economic resources, education, political environment, poverty

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Authors: Jackson Niyongabo

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This study addresses a notable gap in the existing literature on the relationship between energy consumption, economic growth, and CO₂ emissions, particularly within the African context. While numerous studies have explored these dynamics globally and regionally across various development levels, few have delved into the nuances of regions and income levels specific to African countries. Furthermore, the evaluation of the interplay between green growth policies, green energy technologies, and their impact on environmental quality has been underexplored. This research aims to fill these gaps by conducting a comprehensive analysis of the transition from conventional economic growth and energy consumption to a paradigm of green growth coupled with green energy utilization across the African continent from 1980 to 2018. The study is structured into three main parts: an empirical examination of the long-term effects of energy intensity, renewable energy consumption, and economic growth on CO₂ emissions across diverse African regions and income levels; an estimation of the long-term impact of green growth and green energy use on CO₂ emissions for countries implementing green policies within Africa, as well as at regional and global levels; and a comparative analysis of the impact of green growth policies on environmental degradation before and after implementation. Employing advanced econometric methods and panel estimators, the study utilizes a testing framework, panel unit tests, and various estimators to derive meaningful insights. The anticipated results and conclusions will be elucidated through causality tests, impulse response, and variance decomposition analyses, contributing valuable knowledge to the discourse on sustainable development in the African context.

Keywords: economic growth, green growth, energy consumption, CO₂ emissions, econometric models, green energy

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Authors: Salihu Maiwada

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The large scale textile industry in Nigeria was at one time the second largest employer of labor after government. With recent developments and changing situations, there is a serious decline in this sector which consequently forced the local textile industries to close down and the workers retrenched. the category of people worst hit was the youths and the middle age. This paper examines the potentials of the textile cottage industry as a facilitator for capacity building and economic empowerment among the Nigerian youths. The paper focuses on economic viability, persistence, and above-all, its potentials for poverty reduction as well as self employment. The methodology used in the study is the survey method and the instrument used to collect the necessary information is field interview. The results obtained showed that the textile cottage industries are flourishing and the Nigerian youths are engaged in the practice. In addition, the paper suggests areas that require government's financial intervention which will facilitate the establishment and ensure the sustainability of the textile cottage industry. The paper concludes with some recommendations for the youths and for the government.

Keywords: capacity building, economic, empowerment, persistence, sustainability, youths

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Authors: Euphrasia Susy Suhendra, Lies Handrijaningsih

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The banking sector as an intermediary party or intermediaries occupies a very important position in bridging the needs of working capital investment in the real sector with funds owner. This will certainly make money more effectively to improve the economic value added. As an intermediary, Islamic banks raise funds from the public and then distribute in the form of financing. In practice, the distribution of funding that is run by Islamic Banking is not as easy as, in theory, because, in fact, there are many financing problems; some are caused by lacking the assessment and supervision of banks to customers. This study aims to analyze the influence of the Third Party Funds, Return on Assets (ROA), Non Performing Financing (NPF), and Financing Deposit Ratio (FDR) to Total Financing provided to the Community by Islamic Banks in Indonesia. The data used is monthly data released by Bank of Indonesia in Islamic Banking Statistics in the time period of January 2009 - December 2013. This study uses cointegration test to see the long-term relationship, and use error correction models to examine the relationship of short-term. The results of this study indicate that the Third Party Fund has a short-term effect on total funding, Return on Assets has a long term effect on the total financing, Non Performing Financing has long-term effects of total financing, and Financing deposit ratio has the effect of short-term and long-term of the total financing provided by Islamic Banks in Indonesia.

Keywords: Islamic banking, third party fund, return on asset, non-performing financing, financing deposit ratio

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Authors: Wu Yufeng, Gu Yifan, Wang Hengguang, Gongyu, Zuo Tieyong

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Indium is one the scarce resources which can be only used less than 30 years, and more than 70% of the indium is used for the production of the LCD. The benefit of recycling Indium from waste LCD is large. Take the LCD-TV for example, the yield of which was close to 90 million units in 2010. If it was available to recycle the indium effectively, the yield of the secondary-indium could reach up to 110 metric ton, which accounted for one third of the primary indium production in China. And compared with the dispersion and long process extraction of the primary indium resources, secondary indium concentrates in the waste LCD, the exploitation has great economic and environmental benefits. However, the potential benefits were indefinite, resulting in China’s government did not pay enough attention to the indium recycling industry. In our study, an estimation model was constructed to analyze the potential of the indium in the waste LCD. The different types of LCD were detected to find out the content of indium. Then, the potential of the indium in the waste LCD was estimated in China. Furthermore, the pollution emissions of the product process of the primary and secondary indium was analyzed respectively to calculate the economic and environmental benefits of the indium recycling from the waste LCD in China.

Keywords: indium recycling, waste liquid crystal displays, benefits, China

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Authors: Hanadi Mubarak AL-Mubaraki, Michael Busler

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Innovation is the process of making changes, differences, and novelties in the products and services, adding values and business practices to create economic and social benefit. The purpose of this paper is to identify the strengths and weaknesses of innovation programs in developed and developing countries. We used a mixed-methods approach, quantitative as survey and qualitative as a multi-case study to examine innovation best practices in developed and developing countries. In addition, four case studies of innovation organisations based on the best practices and successful implementation in the developed and developing countries are selected for examination. The research findings provide guidance, suggestions, and recommendations for future implementation in developed and developing countries for practitioners such as policy makers, governments, funded organizations, and strategic institutions. In conclusion, innovation programs are vital tools for economic growth, knowledge, and technology transfer based on the several indicators such as creativity, entrepreneurship, role of government, role of university, strategic focus, new products, survival rate, job creation, start-up companies, and number of patents. The authors aim to conduct future research which will include a comparative study of innovation case studies between developed and developing countries for policy implications worldwide. The originality of this study makes a contribution to the current literature about the innovation best practice in developed and developing countries.

Keywords: economic development, entrepreneurship, innovation program, developed countries

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Authors: Abdus-Samiᶜi Imam Arikewuyo

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Islam enjoins the spirit of cooperation among fellow mankind. This is particularly entrenched in the brotherhood phenomenon advocated by Islam. With cooperation, a group of people with diverse qualities and opportunities can facilitate a breakthrough in what is seemingly difficult, if not impossible. This understanding underscores the initiative of establishing multi-purpose cooperative societies for thrifts and savings among bonafide members, especially in developing nations. The spirit and objectives of the Multi-Purpose Cooperatives Societies gave birth to the founding of several of these organizations as a plausible economic outfit in Nigeria to provide succor to the socio-economic predicaments of members. Pertinently, many Islamic cooperative societies sprang up, carving a niche for themselves as Shariᶜah-based economic outfits to accommodate the yearnings of the Muslim populace. KWASU Al-Halal Cooperative Society, Malete, Nigeria, is one such organization that is not only Shariᶜah inclined but also institutional-based. This paper, therefore, aims to examine the operations and activities of this society with a view to determining its strength as a Shariᶜah-based economic outfit for the survival of its clients in a competitive multi-religious atmosphere. The study is both historical and descriptive; thus, it employed interview, observation, focus group discussion and hermeneutical methods as pertinent research tools. The research findings indicated that adopting the Shariᶜah prescriptions, KWASU Al-Halal Cooperative Society, as a representation of the Islamic cooperatives society, fulfilled the essence and goal of its establishment, serving as an outlet for meeting the socio-economic demands of its members regardless of religious inclinations. The paper recommended that stronger efforts should be made on proper record keeping, the conscientiousness of beneficiaries on loan refunds or payments on purchases and education of the loanees and guarantors.

Keywords: efficacy, Islamic cooperatives society, Kwasu al-halal cooperative society, shariᶜah

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Authors: Abdelmaoula Mahamoud Tahir, Sedat Sert

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The possibility of improving the shear strength of unsaturated clayey soil with the addition of olivine was investigated in this paper. Unconsolidated undrained triaxial tests (UU), under different cell pressures (namely: 100 kPa and 200 kPa), with varying percentages of olivine (10% and 20% by weight) and with one day, 28 days, and 56 days curing times, were performed to determine the shear strength of the soil. The increase in strength was observed as a function of the increase in olivine content. An olivine content of 25% was determined as the optimum value to achieve the targeted improvement for both cure times. A comparative study was also conducted between clay samples treated with only olivine and others in the presence of potassium hydroxide (KOH). Clay samples treated with olivine and activated with potassium hydroxide (KOH) had higher shear strength than non-activated olivine-treated samples. It was determined that the strength of the clay samples treated with only olivine did not increase over time and added resistance only with the high specific gravity of olivine. On the other hand, the samples activated with potassium hydroxide (KOH) added to the resistance with high specific gravity and the chemical bonds of olivine. Morphological and mineralogical analyzes were carried out in this study to see and analyze the chemical bonds formed after the reaction. The main components of this improvement were the formation of magnesium-aluminate-hydrate and magnesium-silicate-hydrate. Compared to older methods such as cement addition, these results show that in stabilizing clayey soils, olivine additive offers an energy-efficient alternative for reducing carbon dioxide emissions.

Keywords: ground stabilization, clay, olivine additive, KOH, microstructure

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Authors: Thomas Ogilegwu Orohu

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This paper presents agricultural education as a vocational study, an impetus for youths, economic empowerment. The survival of Nigeria’s agriculture rests squarely on the youth who are the farmers and leaders of tomorrow. Hitherto, the teaching and learning of agriculture has proceeded in such a manner that graduates of such programs have failed to make the successful launch into the world of agricultural enterprises (entrepreneurship). Major constraints that predisposed this anomalous situation were identified to include poor policy framework, socio-economic pressures, undue parental and peer influences, improper value orientation and of course, the nature of curricula. In response to the situation, some programs and/or initiatives aimed at inculcating entrepreneurial skills were proposed by this paper with identified target beneficiaries. The initiatives bordered on curricular reorientation that integrate entrepreneurship/enterprise education, retraining of graduates, financial support system among others.

Keywords: Program initiatives. vocational agriculture, youths’ empowerment, introduction

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Authors: Chutikarn Sriviboon, Witthaya Mekhum

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The purposes of this research were to analyze and evaluate successful factors in OTOP production process for the developing of learning center on OTOP production process based on Sufficiency Economic Philosophy for sustainable life quality. The research has been designed as a qualitative study to gather information from 30 OTOP producers in Bangkontee District, Samudsongkram Province. They were all interviewed on 3 main parts. Part 1 was about the production process including 1) production 2) product development 3) the community strength 4) marketing possibility and 5) product quality. Part 2 evaluated appropriate successful factors including 1) the analysis of the successful factors 2) evaluate the strategy based on Sufficiency Economic Philosophy and 3) the model of learning center on OTOP production process based on Sufficiency Economic Philosophy for sustainable life quality. The results showed that the production did not affect the environment with potential in continuing standard quality production. They used the raw materials in the country. On the aspect of product and community strength in the past 1 year, it was found that there was no appropriate packaging showing product identity according to global market standard. They needed the training on packaging especially for food and drink products. On the aspect of product quality and product specification, it was found that the products were certified by the local OTOP standard. There should be a responsible organization to help the uncertified producers pass the standard. However, there was a problem on food contamination which was hazardous to the consumers. The producers should cooperate with the government sector or educational institutes involving with food processing to reach FDA standard. The results from small group discussion showed that the community expected high education and better standard living. Some problems reported by the community included informal debt and drugs in the community. There were 8 steps in developing the model of learning center on OTOP production process based on Sufficiency Economic Philosophy for sustainable life quality.

Keywords: production process, OTOP, sufficiency economic philosophy, learning center

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Authors: Min Zhou, Kaixuan Lin, Yaping Huang

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In this paper, the industrial space of metropolitan area in Wuhan is taken as a sample. First of all, it puts forward that the structure of service economy, circle gradient relocation and high degree of regional collaboration are the rules of industrial spatial development in the modern world cities. Secondly, using the economic statistics and land use vector data (1993, 2004, 2010, and 2013) of Wuhan, it analyzes the present situation of industry development and the characteristics of industrial space layout from three aspects of the industrial economic structure, industrial layout, and industrial regional synergy. Then, based on the industrial development regularity of world cities, it puts forward to construct the industrial spatial level of ‘complex industrial concentration area + modular industry unit’ and the industrial spatial structure of ‘13525’. Finally, it comes up with the optimization tactics of the industrial space’s transformation in the future under the background of new economic era.

Keywords: big city of metropolitan area, industrial space, characteristics, layout, strategy

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Authors: Sanjay Kumar, Arumugam Sankaran, Arjun K., Mousumi Das

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The amount of domestic consumption and population growth is having a positive impact on economic growth and development as observed by the Harrod-Domar and endogenous growth models. The paper negates the Solow growth model which argues the population growth has a detrimental impact on per capita and steady-state growth. Unlike the Solow model, the paper observes, the per capita income growth never falls zero, and it sustains as positive. Hence, our goal here is to investigate the relationship among population, domestic consumption and economic growth of India. For this estimation, annual data from 1980-2016 has been collected from World Development Indicator and Reserve Bank of India. To know the long run as well as short-run dynamics among the variables, we have employed the ARDL bounds testing approach of cointegration followed by modified Wald causality test to know the direction of causality. The conclusion from cointegration and ARDL estimates reveal that there is a long run positive and statistically significant relationship among the variables under study. At the same time, the causality test shows that there is a causal relationship that exists among the variables. Hence, this calls for policies which have a long run perspective in strengthening the capabilities and entitlements of people and stabilizing domestic demand so as to serve long run and short run growth and stability of the economy.

Keywords: cointegration, consumption, economic development, population growth

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Authors: V. G. Cappellesso, D. M. G. da Silva, J. A. Arndt, N. dos Santos Petry, A. B. Masuero, D. C. C. Dal Molin

Abstract:

Concrete elements are subject to cracking, which can be an access point for deleterious agents that can trigger pathological manifestations reducing the service life of these structures. Finding ways to minimize or eliminate the effects of this aggressive agents’ penetration, such as the sealing of these cracks, is a manner of contributing to the durability of these structures. The cementitious self-healing phenomenon can be classified in two different processes. The autogenous self-healing that can be defined as a natural process in which the sealing of this cracks occurs without the stimulation of external agents, meaning, without different materials being added to the mixture, while on the other hand, the autonomous seal-healing phenomenon depends on the insertion of a specific engineered material added to the cement matrix in order to promote its recovery. This work aims to evaluate the autogenous self-healing of concretes produced with different water/cement ratios and exposed to wet/dry cycles, considering two ages of crack openings, 3 days and 28 days. The self-healing phenomenon was evaluated using two techniques: crack healing measurement using ultrasonic waves and image analysis performed with an optical microscope. It is possible to observe that by both methods, it possible to observe the self-healing phenomenon of the cracks. For young ages of crack openings and lower water/cement ratios, the self-healing capacity is higher when compared to advanced ages of crack openings and higher water/cement ratios. Regardless of the crack opening age, these concretes were found to stabilize the self-healing processes after 80 days or 90 days.

Keywords: sealf-healing, autogenous, water/cement ratio, curing cycles, test methods

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Authors: Hsiao-Tien Pao, Yi-Ying Li, Hsin-Chia Fu

Abstract:

This paper addressed the impacts of energy consumption, economic growth, financial development, and population size on environmental degradation using grey relational analysis (GRA) for China, where foreign direct investment (FDI) inflows is the proxy variable for financial development. The more recent historical data during the period 2004–2011 are used, because the use of very old data for data analysis may not be suitable for rapidly developing countries. The results of the GRA indicate that the linkage effects of energy consumption–emissions and GDP–emissions are ranked first and second, respectively. These reveal that energy consumption and economic growth are strongly correlated with emissions. Higher economic growth requires more energy consumption and increasing environmental pollution. Likewise, more efficient energy use needs a higher level of economic development. Therefore, policies to improve energy efficiency and create a low-carbon economy can reduce emissions without hurting economic growth. The finding of FDI–emissions linkage is ranked third. This indicates that China do not apply weak environmental regulations to attract inward FDI. Furthermore, China’s government in attracting inward FDI should strengthen environmental policy. The finding of population–emissions linkage effect is ranked fourth, implying that population size does not directly affect CO₂ emissions, even though China has the world’s largest population, and Chinese people are very economical use of energy-related products. Overall, the energy conservation, improving efficiency, managing demand, and financial development, which aim at curtailing waste of energy, reducing both energy consumption and emissions, and without loss of the country’s competitiveness, can be adopted for developing economies. The GRA is one of the best way to use a lower data to build a dynamic analysis model.

Keywords: China, CO₂ emissions, foreign direct investment, grey relational analysis

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Authors: M. Makary

Abstract:

Indigenous tourism is nowadays one of the fastest growing sections of the tourism industry. Nevertheless, it does not yet receive attention on the agenda of public tourism policies in Egypt; however, there are various tourism initiatives in indigenous areas throughout the country mainly in the Nubia region, which located in Upper Egypt, where most of Egypt's indigenous Nubians are concentrated. Considering indigenous tourism can lead to both positive and negative impacts on the indigenous communities the main aim of this study is to analyze the socio-cultural and economic impacts of the indigenous tourism on the indigenous communities in Egypt: the case study of Nubians. Qualitative and quantitative approaches of data collection were designed and applied in conducting this study. Semi-structured interviews, focus groups, and the observations are the main preliminary data collection techniques used in this study while, the secondary data were sourced from articles, statistics, dissertations, and websites. The research concludes that indigenous tourism offers a strong motivation to save the identity of the indigenous communities and to foster their economic development. However, it also has negative impacts on their society.

Keywords: indigenous tourism, sustainable tourism, Indigenous communities, Nubians

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Authors: Ephraim Ugwu, Christopher Ehinomen

Abstract:

Despite efforts by the Nigerian government to harmonize the macroeconomic policy implementations by establishing various committees to resolve disputes between the fiscal and monetary authorities, it is still evident that the federal government had continued its expansionary policy by increasing spending, thus creating huge budget deficit. This study evaluates the effect of macroeconomic policy coordination on economic growth uncertainty in Nigeria from 1980 to 2020. Employing the Auto regressive distributed lag (ARDL) bound testing procedures, the empirical results shows that the error correction term, ECM(-1), indicates a negative sign and is significant statistically with the t-statistic value of (-5.612882 ). Therefore, the gap between long run equilibrium value and the actual value of the dependent variable is corrected with speed of adjustment equal to 77% yearly. The long run coefficient results showed that the estimated coefficients of the intercept term indicates that other things remains the same (ceteris paribus), the economics growth uncertainty will continue reduce by 7.32%. The coefficient of the fiscal policy variable, PUBEXP, indicates a positive sign and significant statistically. This implies that as the government expenditure increases by 1%, economic growth uncertainty will increase by 1.67%. The coefficient of monetary policy variable MS also indicates a positive sign and insignificant statistically. The coefficients of merchandise trade variable, TRADE and exchange rate EXR show negative signs and significant statistically. This indicate that as the country’s merchandise trade and the rate of exchange increases by 1%, the economic growth uncertainty reduces by 0.38% and 0.06%, respectively. This study, therefore, advocate for proper coordination of monetary, fiscal and exchange rate policies in order to actualize the goal of achieving a stable economic growth.

Keywords: macroeconomic, policy coordination, growth uncertainty, ARDL, Nigeria

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Authors: Radosław Pastusiak, Anna Kaźmierska, Magdalena Jasiniak

Abstract:

The impact of Special Economic Zones (SEZs) has been analyzed for many years by researchers. There are lot of theoretical studies proving the SEZs importance for regional development, however, there is lack of empirical studies (and they are mainly focused on China market) that are based on available data. The theoretical studies indicate the various impacts of enterprises operating within SEZs on the economy. The article proves that, in case of Poland, locating SEZs in municipalities is an important part of increasing municipalities’ income. Therefore SEZs have a positive impact on regional development. Municipality income is understood as taxes paid by taxpayers who depend on SEZ companies’ performance. The analysis includes the Corporate Income Tax (CIT), Personal Income Tax (PIT) and real estate tax. The effects of SEZs on regional development were narrowed to a few variables that are most significant for the financial system. The analysis indicates the significant impact of SEZs on the amount of taxes influencing the municipality budget.

Keywords: special economic zone, local finance, municipal finance, government

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Authors: Chokri Slim

Abstract:

The relative failure of simultaneous equation models in the seventies has led researchers to turn to other approaches that take into account the dynamics of economic and financial systems. In this paper, we use an approach based on vector autoregressive model that is widely used in recent years. Their popularity is due to their flexible nature and ease of use to produce models with useful descriptive characteristics. It is also easy to use them to test economic hypotheses. The standard econometric techniques assume that the series studied are stable over time (stationary hypothesis). Most economic series do not verify this hypothesis, which assumes, when one wishes to study the relationships that bind them to implement specific techniques. This is cointegration which characterizes non-stationary series (integrated) with a linear combination is stationary, will also be presented in this paper. Since the work of Johansen, this approach is generally presented as part of a multivariate analysis and to specify long-term stable relationships while at the same time analyzing the short-term dynamics of the variables considered. In the empirical part, we have applied these concepts to study the dynamics of of the exchange rate in Tunisia, which is one of the most important economic policy of a country open to the outside. According to the results of the empirical study by the cointegration method, there is a cointegration relationship between the exchange rate and its determinants. This relationship shows that the variables have a significant influence in determining the exchange rate in Tunisia.

Keywords: stationarity, cointegration, dynamic models, causality, VECM models

Procedia PDF Downloads 364