Search results for: troubled economy
1686 Visual Identity Components of Tourist Destination
Authors: Petra Barisic, Zrinka Blazevic
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In the world of modern communications, visual identity has predominant influence on the overall success of tourist destinations, but despite of these, the problem of designing thriving tourist destination visual identity and their components are hardly addressed. This study highlights the importance of building and managing the visual identity of tourist destination, and based on the empirical study of well-known Mediterranean destination of Croatia analyses three main components of tourist destination visual identity; name, slogan, and logo. Moreover, the paper shows how respondents perceive each component of Croatia’s visual identity. According to study, logo is the most important, followed by the name and slogan. Research also reveals that Croatian economy lags behind developed countries in understanding the importance of visual identity, and its influence on marketing goal achievements.Keywords: components of visual identity, Croatia, tourist destination, visual identity
Procedia PDF Downloads 10371685 Quality Education for the Poor People: Strategy of Islamic Education in the Medium Community
Authors: Naufal Ahmad Rijalul Alam
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This article presents a quality of education for the poor people in Indonesia and the offering of strategy to be done. It also investigates the influence of Islamic Education which stands behind the religious values in developing effort of government to respond the problem with using humanities approaches in medium society. The offering strategy resulted in four agenda: 1) building a shared commitment, 2) encouraging the improvement of the quality of public and private schools, 3) encouraging the use of 'the indicator of disaffection' for gifted children, and 4) encouraging the enlargement of vocational training centers and polytechnics. The conclusion is that the quality of education can be increased with these four agenda, although they are not too easy because it deals with other factors such as the economy, politics, and culture which is happening in the country.Keywords: quality education, poor people, strategy of Islamic education, medium community
Procedia PDF Downloads 4661684 Study the Relationship amongst Digital Finance, Renewable Energy, and Economic Development of Least Developed Countries
Authors: Fatima Sohail, Faizan Iftikhar
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This paper studies the relationship between digital finance, renewable energy, and the economic development of Pakistan and least developed countries from 2000 to 2022. The paper used panel analysis and generalized method of moments Arellano-Bond approaches. The findings show that under the growth model, renewable energy (RE) has a strong and favorable link with fixed broadband and mobile subscribers. However, FB and MD have a strong but negative association with the uptake of renewable energy (RE) in the average and simple model. This paper provides valuable insights for policymakers, investors of the digital economy.Keywords: digital finance, renewable energy, economic development, mobile subscription, fixed broadband
Procedia PDF Downloads 281683 Cultural Heritage Management and Tourism in Kosovo
Authors: Valon Shkodra
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In our paper, we will give an overview of the cultural heritage and tourism in Kosovo. Kosovo has a history, culture, tradition and architecture that are different from those of other countries in the region, and each country has its own characteristics and peculiarities. In this paper, we will mainly present the situation of cultural heritage and its interpretation. The research is based on fieldwork and the aim of the research is to live the situation of cultural heritage and tourism. The reason why we chose this topic is that cultural heritage and tourism are now the most important industry developing many countries in the world. Besides the benefits that tourism brings, it also has an impact on the preservation, protection and promotion of culture in general. Kosovo, with its cultural diversity and very good geographical location, is also very well suited to develop these two areas as a bridge to each other. The cultural heritage holds traces from the earliest eras and shows a diversity of different civilizations that have just begun to be explored and presented.Keywords: cultural heritage, economy, tourism, development, institutions, protection
Procedia PDF Downloads 2101682 Blending Values for Historic Neighborhood Upliftment: Case of Heritage Hotel in Ahmedabad
Authors: Vasudha Saraogi
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Heritage hotels are architectural marvels and embody a number of values of heritage discourses within them. The adaptive re-use of old structures to make them commercially viable as heritage hotels, not only boosts tourism and the local economy but also brings in development for the neighborhood in which it is located. This paper seeks to study the value created by heritage hotels in general and French Haveli (Ahmedabad) in particular using the single case study methodology. The paper draws upon the concept of the Italian model of Albergo Diffuso and its implementation via French Haveli, for value creation and development in Dhal Ni Pol (a historic neighborhood) while recognizing the importance of stakeholders to the process of the historic neighborhood upliftment.Keywords: heritage discourses, historic neighborhoods, heritage hotel, Old City Ahmedabad
Procedia PDF Downloads 1891681 Design and Development of an Algorithm to Predict Fluctuations of Currency Rates
Authors: Nuwan Kuruwitaarachchi, M. K. M. Peiris, C. N. Madawala, K. M. A. R. Perera, V. U. N Perera
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Dealing with businesses with the foreign market always took a special place in a country’s economy. Political and social factors came into play making currency rate changes fluctuate rapidly. Currency rate prediction has become an important factor for larger international businesses since large amounts of money exchanged between countries. This research focuses on comparing the accuracy of mainly three models; Autoregressive Integrated Moving Average (ARIMA), Artificial Neural Networks(ANN) and Support Vector Machines(SVM). series of data import, export, USD currency exchange rate respect to LKR has been selected for training using above mentioned algorithms. After training the data set and comparing each algorithm, it was able to see that prediction in SVM performed better than other models. It was improved more by combining SVM and SVR models together.Keywords: ARIMA, ANN, FFNN, RMSE, SVM, SVR
Procedia PDF Downloads 1981680 Developing a Model for Information Giving Behavior in Virtual Communities
Authors: Pui-Lai To, Chechen Liao, Tzu-Ling Lin
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Virtual communities have created a range of new social spaces in which to meet and interact with one another. Both as a stand-alone model or as a supplement to sustain competitive advantage for normal business models, building virtual communities has been hailed as one of the major strategic innovations of the new economy. However for a virtual community to evolve, the biggest challenge is how to make members actively give information or provide advice. Even in busy virtual communities, usually, only a small fraction of members post information actively. In order to investigate the determinants of information giving willingness of those contributors who usually actively provide their opinions, we proposed a model to understand the reasons for contribution in communities. The study will definitely serve as a basis for the future growth of information giving in virtual communities.Keywords: information giving, social identity, trust, virtual community
Procedia PDF Downloads 3151679 From Battles to Balance and Back: Document Analysis of EU Copyright in the Digital Era
Authors: Anette Alén
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Intellectual property (IP) regimes have traditionally been designed to integrate various conflicting elements stemming from private entitlement and the public good. In IP laws and regulations, this design takes the form of specific uses of protected subject-matter without the right-holder’s consent, or exhaustion of exclusive rights upon market release, and the like. More recently, the pursuit of ‘balance’ has gained ground in the conceptualization of these conflicting elements both in terms of IP law and related policy. This can be seen, for example, in European Union (EU) copyright regime, where ‘balance’ has become a key element in argumentation, backed up by fundamental rights reasoning. This development also entails an ever-expanding dialogue between the IP regime and the constitutional safeguards for property, free speech, and privacy, among others. This study analyses the concept of ‘balance’ in EU copyright law: the research task is to examine the contents of the concept of ‘balance’ and the way it is operationalized and pursued, thereby producing new knowledge on the role and manifestations of ‘balance’ in recent copyright case law and regulatory instruments in the EU. The study discusses two particular pieces of legislation, the EU Digital Single Market (DSM) Copyright Directive (EU) 2019/790 and the finalized EU Artificial Intelligence (AI) Act, including some of the key preparatory materials, as well as EU Court of Justice (CJEU) case law pertaining to copyright in the digital era. The material is examined by means of document analysis, mapping the ways ‘balance’ is approached and conceptualized in the documents. Similarly, the interaction of fundamental rights as part of the balancing act is also analyzed. Doctrinal study of law is also employed in the analysis of legal sources. This study suggests that the pursuit of balance is, for its part, conducive to new battles, largely due to the advancement of digitalization and more recent developments in artificial intelligence. Indeed, the ‘balancing act’ rather presents itself as a way to bypass or even solidify some of the conflicting interests in a complex global digital economy. Indeed, such a conceptualization, especially when accompanied by non-critical or strategically driven fundamental rights argumentation, runs counter to the genuine acknowledgment of new types of conflicting interests in the copyright regime. Therefore, a more radical approach, including critical analysis of the normative basis and fundamental rights implications of the concept of ‘balance’, is required to readjust copyright law and regulations for the digital era. Notwithstanding the focus on executing the study in the context of the EU copyright regime, the results bear wider significance for the digital economy, especially due to the platform liability regime in the DSM Directive and with the AI Act including objectives of a ‘level playing field’ whereby compliance with EU copyright rules seems to be expected among system providers.Keywords: balance, copyright, fundamental rights, platform liability, artificial intelligence
Procedia PDF Downloads 271678 What Nigeria Education Needs
Authors: Babatunde Joel Todowede
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The challenges of nation building and sustainable development have continued to feature prominently in the general reckoning of problems of underdevelopment in the developing countries of the world. Thus, since the attainment of political independence from the British colonial administration in 1960, one of the critical thrusts of central governance in Nigeria has been the particular policy attention of the educational sector. Of course, education is perceived as the logical bridge between the two contrasting worlds of underdevelopment and development, hence, its fundamental importance. The various public policies and practices associated with the Nigerian educational sector are specifically elaborated and critically assessed in this paper. In the final analysis, it is concluded that the educational sector should be better configured and managed in ways that the wider challenges of nation-building and sustainable development are effectively tractable.Keywords: Nigeria education, educational need, educational plans and policies, educational challenges, corrective measures, emerging economy
Procedia PDF Downloads 3651677 An Application of the Single Equation Regression Model
Authors: S. K. Ashiquer Rahman
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Recently, oil has become more influential in almost every economic sector as a key material. As can be seen from the news, when there are some changes in an oil price or OPEC announces a new strategy, its effect spreads to every part of the economy directly and indirectly. That’s a reason why people always observe the oil price and try to forecast the changes of it. The most important factor affecting the price is its supply which is determined by the number of wildcats drilled. Therefore, a study about the number of wellheads and other economic variables may give us some understanding of the mechanism indicated by the amount of oil supplies. In this paper, we will consider a relationship between the number of wellheads and three key factors: the price of the wellhead, domestic output, and GNP constant dollars. We also add trend variables in the models because the consumption of oil varies from time to time. Moreover, this paper will use an econometrics method to estimate parameters in the model, apply some tests to verify the result we acquire, and then conclude the model.Keywords: price, domestic output, GNP, trend variable, wildcat activity
Procedia PDF Downloads 511676 Institutional Cooperation to Foster Economic Development: Universities and Social Enterprises
Authors: Khrystyna Pavlyk
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In the OECD countries, percentage of adults with higher education degrees has increased by 10 % during 2000-2010. Continuously increasing demand for higher education gives universities a chance of becoming key players in socio-economic development of a territory (region or city) via knowledge creation, knowledge transfer, and knowledge spillovers. During previous decade, universities have tried to support spin-offs and start-ups, introduced courses on sustainability and corporate social responsibility. While much has been done, new trends are starting to emerge in search of better approaches. Recently a number of universities created centers that conduct research in a field social entrepreneurship, which in turn underpin educational programs run at these universities. The list includes but is not limited to the Centre for Social Economy at University of Liège, Institute for Social Innovation at ESADE, Skoll Centre for Social Entrepreneurship at Oxford, Centre for Social Entrepreneurship at Rosklide, Social Entrepreneurship Initiative at INSEAD. Existing literature already examined social entrepreneurship centers in terms of position in the institutional structure, initial and additional funding, teaching initiatives, research achievements, and outreach activities. At the same time, Universities can become social enterprises themselves. Previous research revealed that universities use both business and social entrepreneurship models. Universities which are mainly driven by a social mission are more likely to transform into social entrepreneurial institutions. At the same time, currently, there is no clear understanding of what social entrepreneurship in higher education is about and thus social entrepreneurship in higher education needs to be studied and promoted at the same time. Main roles which socially oriented university can play in city development include: buyer (implementation of socially focused local procurement programs creates partnerships focused on local sustainable growth.); seller (centers created by universities can sell socially oriented goods and services, e.g. in consultancy.); employer (Universities can employ socially vulnerable groups.); business incubator (which will help current student to start their social enterprises). In the paper, we will analyze these in more detail. We will also examine a number of indicators that can be used to assess the impact, both direct and indirect, that universities can have on city's economy. At the same time, originality of this paper mainly lies not in methodological approaches used, but in countries evaluated. Social entrepreneurship is still treated as a relatively new phenomenon in post-transitional countries where social services were provided only by the state for many decades. Paper will provide data and example’s both from developed countries (the US and EU), and those located in CIS and CEE region.Keywords: social enterprise, university, regional economic development, comparative study
Procedia PDF Downloads 2491675 Assessing Lithium Recovery from Secondary Sources
Authors: Carolina A. Santos, Alexandra B. Ribeiro
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Climate change and environmental degradation are threats to humanity. Europe has been addressing these problems, namely through the Green Deal, with the use of batteries in mobility and energy fields. However, these require the use of critical raw materials, like lithium, which demand is estimated to grow 60 times in the next 30 years. Thus, it is fundamental to promote a circular economy with lithium recovery from secondary resources. These are nowadays key topics, which will be even more relevant in the future, so a new way to approach them is needed and must be encouraged. Therefore, one of our main goals is to analyse two methods of lithium retrieval from secondary sources, bioleaching, and electrodialysis, and assess them regarding their sustainability. The latest results show good efficiency of removal with both methods, even though there are some matrix interferences. Hence, further investment and research are needed in order to make this process sustainable and our society more circular.Keywords: lithium, sustainable mining, social license to operate, bioleaching, electrodialysis
Procedia PDF Downloads 1161674 The Relationship between Energy Consumption and Economic Growth in Turkey: A Time Series Analysis
Authors: Burcu Guvenek, Volkan Alptekin
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Turkey is a country in the process of development and its economy has undergone structural reforms in order to realize a sustainable development and energy has vital role as a basic input for this aim. Turkey has been in the process of economic growth and development and, because of this, has an increasing energy need. This paper investigates relationship between economic growth and electricity consumption using annual data for Turkey between 1970-2008 by using bounds test. As economic growth and energy consumption variables used in empirical analysis was different order of integration I(0) and I(1), we employed bounds test approach. We have not found co-integration relationship between the variables.Keywords: bounds test, economic growth, energy consumption, Turkey
Procedia PDF Downloads 3561673 Working Towards More Sustainable Food Waste: A Circularity Perspective
Authors: Rocío González-Sánchez, Sara Alonso-Muñoz
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Food waste implies an inefficient management of the final stages in the food supply chain. Referring to Sustainable Development Goals (SDGs) by United Nations, the SDG 12.3 proposes to halve per capita food waste at the retail and consumer level and to reduce food losses. In the linear system, food waste is disposed and, to a lesser extent, recovery or reused after consumption. With the negative effect on stocks, the current food consumption system is based on ‘produce, take and dispose’ which put huge pressure on raw materials and energy resources. Therefore, greater focus on the circular management of food waste will mitigate the environmental, economic, and social impact, following a Triple Bottom Line (TBL) approach and consequently the SDGs fulfilment. A mixed methodology is used. A total sample of 311 publications from Web of Science database were retrieved. Firstly, it is performed a bibliometric analysis by SciMat and VOSviewer software to visualise scientific maps about co-occurrence analysis of keywords and co-citation analysis of journals. This allows for the understanding of the knowledge structure about this field, and to detect research issues. Secondly, a systematic literature review is conducted regarding the most influential articles in years 2020 and 2021, coinciding with the most representative period under study. Thirdly, to support the development of this field it is proposed an agenda according to the research gaps identified about circular economy and food waste management. Results reveal that the main topics are related to waste valorisation, the application of waste-to-energy circular model and the anaerobic digestion process towards fossil fuels replacement. It is underlined that the use of food as a source of clean energy is receiving greater attention in the literature. There is a lack of studies about stakeholders’ awareness and training. In addition, available data would facilitate the implementation of circular principles for food waste recovery, management, and valorisation. The research agenda suggests that circularity networks with suppliers and customers need to be deepened. Technological tools for the implementation of sustainable business models, and greater emphasis on social aspects through educational campaigns are also required. This paper contributes on the application of circularity to food waste management by abandoning inefficient linear models. Shedding light about trending topics in the field guiding to scholars for future research opportunities.Keywords: bibliometric analysis, circular economy, food waste management, future research lines
Procedia PDF Downloads 1011672 Antmicrobial Packaging, a Step Towards Safe Food: A Review
Authors: Hafiz A. Sakandar, M. Afzaal, U. Khan, M. N. Akhtar
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Food is the primary concern of living organisms, provision of diet for maintenance of good physical and mental health is a basic right of an individual and the outcome of factors related to diet on health has been matter of apprehension since ancient times. Healthy and fresh food always demanded by the consumers. Modern research has find out many alternatives of traditional packaging. Now the consumer knows that good packaging system is that which protects the food from the contaminants and increases shelf life of food product. While in Pakistan about 40% of fruits and vegetables lost due to spoilage caused by poor handling, transportation, and poor packaging interaction with other environmental conditions. So it is crucial for developing countries like Pakistan to pay attention to these exacerbating situations for economy losses by considering food packaging an ultimate solution to the problem.Keywords: packaging, food safety, antimicrobial, food losses
Procedia PDF Downloads 5421671 Product Design and Development of Wearable Assistant Device
Authors: Hao-Jun Hong, Jung-Tang Huang
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The world is gradually becoming an aging society, and with the lack of laboring forces, this phenomenon is affecting the nation’s economy growth. Although nursing centers are booming in recent years, the lack of medical resources are yet to be resolved, thus creating an innovative wearable medical device could be a vital solution. This research is focused on the design and development of a wearable device which obtains a more precise heart failure measurement than products on the market. The method used by the device is based on the sensor fusion and big data algorithm. From the test result, the modified structure of wearable device can significantly decrease the MA (Motion Artifact) and provide users a more cozy and accurate physical monitor experience.Keywords: big data, heart failure, motion artifact, sensor fusion, wearable medical device
Procedia PDF Downloads 3461670 The Term Structure of Government Bond Yields in an Emerging Market: Empirical Evidence from Pakistan Bond Market
Authors: Wali Ullah, Muhammad Nishat
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The study investigates the extent to which the so called Nelson-Siegel model (DNS) and its extended version that accounts for time varying volatility (DNS-EGARCH) can optimally fit the yield curve and predict its future path in the context of an emerging economy. For the in-sample fit, both models fit the curve remarkably well even in the emerging markets. However, the DNS-EGARCH model fits the curve slightly better than the DNS. Moreover, both specifications of yield curve that are based on the Nelson-Siegel functional form outperform the benchmark VAR forecasts at all forecast horizons. The DNS-EGARCH comes with more precise forecasts than the DNS for the 6- and 12-month ahead forecasts, while the two have almost similar performance in terms of RMSE for the very short forecast horizons.Keywords: yield curve, forecasting, emerging markets, Kalman filter, EGARCH
Procedia PDF Downloads 5311669 Plastic Pollution: Analysis of the Current Legal Framework and Perspectives on Future Governance
Authors: Giorgia Carratta
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Since the beginning of mass production, plastic items have been crucial in our daily lives. Thanks to their physical and chemical properties, plastic materials have proven almost irreplaceable in a number of economic sectors such as packaging, automotive, building and construction, textile, and many others. At the same time, the disruptive consequences of plastic pollution have been progressively brought to light in all environmental compartments. The overaccumulation of plastics in the environment, and its adverse effects on habitats, wildlife, and (most likely) human health, represents a call for action to decision-makers around the globe. From a regulatory perspective, plastic production is an unprecedented challenge at all levels of governance. At the international level, the design of new legal instruments, the amendment of existing ones, and the coordination among the several relevant policy areas requires considerable effort. Under the pressure of both increasing scientific evidence and a concerned public opinion, countries seem to slowly move towards the discussion of a new international ‘plastic treaty.’ However, whether, how, and with which scopes such instrument would be adopted is still to be seen. Additionally, governments are establishing regional-basedstrategies, prone to consider the specificities of the plastic issue in a certain geographical area. Thanks to the new Circular Economy Action Plan, approved in March 2020 by the European Commission, EU countries are slowly but steadily shifting to a carbon neutral, circular economy in the attempt to reduce the pressure on natural resources and, parallelly, facilitate sustainable economic growth. In this context, the EU Plastic Strategy is promising to change the way plastic is designed, produced, used, and treated after consumption. In fact, only in the EU27 Member States, almost 26 million tons of plastic waste are generated herein every year, whose 24,9% is still destined to landfill. Positive effects of the Strategy also include a more effective protection of our environment, especially the marine one, the reduction of greenhouse gas emissions, a reduced need for imported fossil energy sources, more sustainable production and consumption patterns. As promising as it may sound, the road ahead is still long. The need to implement these measures in domestic legislations makes their outcome difficult to predict at the moment. An analysis of the current international and European Union legal framework on plastic pollution, binding, and voluntary instruments included, could serve to detect ‘blind spots’ in the current governance as well as to facilitate the development of policy interventions along the plastic value chain, where it appears more needed.Keywords: environmental law, European union, governance, plastic pollution, sustainability
Procedia PDF Downloads 1011668 New Innovation and Sustainability in a Developing Country: The Case of Cameroon
Authors: Lema Catherine Forje
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Innovation activates the system of an economy to a new level. Innovation follows a process. The first step in innovation is the idea-generation process. There is widespread appreciation that people go to great lengths, incur expenses: energy and materials to generate innovative ideas. People get inspired, create, and connect. The inspiration also enables the building of a culture of innovation. Data collection was done through a face-to-face interview with the producer of the first Cameroon beer that came out in the early 1960s, a rice producing company, a cement producing company, and 100 women following a type of dressing commonly worn by Cameroonian women (wrappa). There were a total number of one hundred and three interviewees. The implication of this study is for everybody. It sheds light on the factors that are likely to sustain an innovation. Conclusion emphasises continuous research to keep giving the innovation a face lift.Keywords: entrepreneurship, ideas, innovation, sustainability
Procedia PDF Downloads 2921667 Impact of Globalization on Youth Bulge and Civil Unrest: An Empirical Approach
Authors: Swetasree Roy, Subaran Roy
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The contemporary literature documents globalization affects the stability of a country in three ways i) it increases peace ii) it decreases the likelihood of civil unrest, and iii) it creates employment. In this paper, we show that unemployment amongst youth plays a significant role in the effect of globalization and the internal stability of a country. Using recent data on globalization for 88 countries (2000-2014), we examine whether the presence of a large section of youth exacerbates the negative effects of globalization, thereby increasing chances of civil unrest. Using recent measures of globalization, we find globalization affect adversely on the stability of a country. Our results indicate that globalization in the presence of a high youth unemployment rate can create more instability in an economy. Results are robust in the presence of other socio-economic variables.Keywords: globalization, youth bulge, civil unrest, unemployment
Procedia PDF Downloads 1481666 Smart Technology for Hygrothermal Performance of Low Carbon Material Using an Artificial Neural Network Model
Authors: Manal Bouasria, Mohammed-Hichem Benzaama, Valérie Pralong, Yassine El Mendili
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Reducing the quantity of cement in cementitious composites can help to reduce the environmental effect of construction materials. By-products such as ferronickel slags (FNS), fly ash (FA), and Crepidula fornicata (CR) are promising options for cement replacement. In this work, we investigated the relevance of substituting cement with FNS-CR and FA-CR on the mechanical properties of mortar and on the thermal properties of concrete. Foraging intervals ranging from 2 to 28 days, the mechanical properties are obtained by 3-point bending and compression tests. The chosen mix is used to construct a prototype in order to study the material’s hygrothermal performance. The data collected by the sensors placed on the prototype was utilized to build an artificial neural network.Keywords: artificial neural network, cement, circular economy, concrete, by products
Procedia PDF Downloads 1091665 Financial Literacy and Stock Market Participation: Does Gender Matter?
Authors: Irfan Ullah Munir, Shen Yue, Muhammad Shahzad Ijaz, Saad Hussain, Syeda Yumna Zaidi
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Financial literacy is fundamental to every decision-making process and has received attention from researchers, regulatory bodies and policy makers in the recent past. This study is an attempt to evaluate financial literacy in an emerging economy, particularly Pakistan, and its influence on people's stock market participation. Data of this study was collected through a structured questionnaire from a sample of 300 respondents. EFA is used to check the convergent and discriminant validity. Data is analyzed using Hayes (2013) approach. A set of demographic control variables that have passed the mean difference test is used. We demonstrate that participants with financial literacy tend to invest more in the stock market. We also find that association among financial literacy and participation in stock market gets moderated by gender.Keywords: Financial literacy, Stock market participation, Gender, PSX
Procedia PDF Downloads 1911664 Biorefinery as Extension to Sugar Mills: Sustainability and Social Upliftment in the Green Economy
Authors: Asfaw Gezae Daful, Mohsen Alimandagari, Kathleen Haigh, Somayeh Farzad, Eugene Van Rensburg, Johann F. Görgens
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The sugar industry has to 're-invent' itself to ensure long-term economic survival and opportunities for job creation and enhanced community-level impacts, given increasing pressure from fluctuating and low global sugar prices, increasing energy prices and sustainability demands. We propose biorefineries for re-vitalisation of the sugar industry using low value lignocellulosic biomass (sugarcane bagasse, leaves, and tops) annexed to existing sugar mills, producing a spectrum of high value platform chemicals along with biofuel, bioenergy, and electricity. Opportunity is presented for greener products, to mitigate climate change and overcome economic challenges. Xylose from labile hemicellulose remains largely underutilized and the conversion to value-add products a major challenge. Insight is required on pretreatment and/or extraction to optimize production of cellulosic ethanol together with lactic acid, furfural or biopolymers from sugarcane bagasse, leaves, and tops. Experimental conditions for alkaline and pressurized hot water extraction dilute acid and steam explosion pretreatment of sugarcane bagasse and harvest residues were investigated to serve as a basis for developing various process scenarios under a sugarcane biorefinery scheme. Dilute acid and steam explosion pretreatment were optimized for maximum hemicellulose recovery, combined sugar yield and solids digestibility. An optimal range of conditions for alkaline and liquid hot water extraction of hemicellulosic biopolymers, as well as conditions for acceptable enzymatic digestibility of the solid residue, after such extraction was established. Using data from the above, a series of energy efficient biorefinery scenarios are under development and modeled using Aspen Plus® software, to simulate potential factories to better understand the biorefinery processes and estimate the CAPEX and OPEX, environmental impacts, and overall viability. Rigorous and detailed sustainability assessment methodology was formulated to address all pillars of sustainability. This work is ongoing and to date, models have been developed for some of the processes which can ultimately be combined into biorefinery scenarios. This will allow systematic comparison of a series of biorefinery scenarios to assess the potential to reduce negative impacts on and maximize the benefits of social, economic, and environmental factors on a lifecycle basis.Keywords: biomass, biorefinery, green economy, sustainability
Procedia PDF Downloads 5031663 An Analysis of Oil Price Changes and Other Factors Affecting Iranian Food Basket: A Panel Data Method
Authors: Niloofar Ashktorab, Negar Ashktorab
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Oil exports fund nearly half of Iran’s government expenditures, since many years other countries have been imposed different sanctions against Iran. Sanctions that primarily target Iran’s key energy sector have harmed Iran’s economy. The strategic effects of sanctions might be reduction as Iran adjusts to them economically. In this study, we evaluate the impact of oil price and sanctions against Iran on food commodity prices by using panel data method. Here, we find that the food commodity prices, the oil price and real exchange rate are stationary. The results show positive effect of oil price changes, real exchange rate and sanctions on food commodity prices.Keywords: oil price, food basket, sanctions, panel data, Iran
Procedia PDF Downloads 3491662 Communication Development for Development Communication: Prospects and Challenges of New Media Technologies in South East Zone, Nigeria
Authors: O. I. Ekwueme
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New media technologies are noted for their immense contributions in various sectors of the economy which are believed to have resulted in the development of European countries. There is an assumption that we cannot have development communication without communication development, but we are not sure if new media technologies contribute to development in the South-East zone, Nigeria. The study employed mixed method and discovered that new media technologies have a very minimal relationship to development in the South-East zone, Nigeria. It was discovered that the media report on development news is basically informative instead of interactive. The South-East zone is scarcely covered unlike other zones. It argued that the communication technologies introduced in Nigeria was as a result of their struggle for independence. It was recommended that media organisations in the South-East zone should give adequate coverage to the zone, and be more interactive.Keywords: communication, development, new media, technologies
Procedia PDF Downloads 3301661 The Impacts of Export in Stimulating Economic Growth in Ethiopia: ARDL Model Analysis
Authors: Natnael Debalklie Teshome
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The purpose of the study was to empirically investigate the impacts of export performance and its volatility on economic growth in the Ethiopian economy. To do so, time-series data of the sample period from 1974/75 – 2017/18 were collected from databases and annual reports of IMF, WB, NBE, MoFED, UNCTD, and EEA. The extended Cobb-Douglas production function of the neoclassical growth model framed under the endogenous growth theory was used to consider both the performance and instability aspects of export. First, the unit root test was conducted using ADF and PP tests, and data were found in stationery with a mix of I(0) and I(1). Then, the bound test and Wald test were employed, and results showed that there exists long-run co-integration among study variables. All the diagnostic test results also reveal that the model fulfills the criteria of the best-fitted model. Therefore, the ARDL model and VECM were applied to estimate the long-run and short-run parameters, while the Granger causality test was used to test the causality between study variables. The empirical findings of the study reveal that only export and coefficient of variation had significant positive and negative impacts on RGDP in the long run, respectively, while other variables were found to have an insignificant impact on the economic growth of Ethiopia. In the short run, except for gross capital formation and coefficients of variation, which have a highly significant positive impact, all other variables have a strongly significant negative impact on RGDP. This shows exports had a strong, significant impact in both the short-run and long-run periods. However, its positive and statistically significant impact is observed only in the long run. Similarly, there was a highly significant export fluctuation in both periods, while significant commodity concentration (CCI) was observed only in the short run. Moreover, the Granger causality test reveals that unidirectional causality running from export performance to RGDP exists in the long run and from both export and RGDP to CCI in the short run. Therefore, the export-led growth strategy should be sustained and strengthened. In addition, boosting the industrial sector is vital to bring structural transformation. Hence, the government has to give different incentive schemes and supportive measures to exporters to extract the spillover effects of exports. Greater emphasis on price-oriented diversification and specialization on major primary products that the country has a comparative advantage should also be given to reduce value-based instability in the export earnings of the country. The government should also strive to increase capital formation and human capital development via enhancing investments in technology and quality of education to accelerate the economic growth of the country.Keywords: export, economic growth, export diversification, instability, co-integration, granger causality, Ethiopian economy
Procedia PDF Downloads 601660 Bank Loans and the Business Cycle: The Case of the Czech Republic
Authors: Libena Cernohorska, Jan Cernohorsky
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This article aims to evaluate the impact of loans provided within the Czech banking sector on the growth of the Czech economy. The article is based on research of current scientific findings in respect to bank loans and economic development. The paper is based on data taken from the Czech Statistical Office on the development of the gross domestic product and data from the Czech National Bank on the development of loans from the period 2004-2015. Links between selected variables are tested using Granger causality tests. The results calculated confirm the hypothesis of the impact of the loans on economic growth, with a six-month delay. The results thus correspond to the standard economic findings and results of most previous studies.Keywords: bank, business cycle, economic growth, loans
Procedia PDF Downloads 1221659 Social Business: Opportunities and Challenges
Authors: Muhammad Mustafizur Rahaman
Abstract:
Social business is a new concept in the field of Business Economics and Capitalist Economy. It has increased the importance in economic and social development in emerging economies. Professor Muhammad Yunus is the founding father of the notion. While conventional business underscores profit maximization as a core business principle, social business calls for addressing social problems at the expense of profit. This underlying principle gives social business advantageous position over conventional businesses to serve those who live at the bottom of the pyramid. It also poses grave challenges to the social business because social business sacrifices profit at one hand and seeks financial sustainability on the other. For the sake of its financial sustainability, the social business might increase the price of its product or service which might lower its social impact, thus, makes the business self-defeating. Therefore, social business should be more innovative in every business process including production, marketing, and management. Otherwise, the business is unlikely to be driven out from the society.Keywords: innovativeness, self-defeat, social business, social problem
Procedia PDF Downloads 6101658 Transformation of the Relationship Between Tourism Activities and Residential Environment in the Center of a Historical Suburban City of a Tourism Metropolis: A Case Study of Naka-Uji Area, Uji City, Kyoto Prefecture
Authors: Shuailing Cui, Nakajiam Naoto
Abstract:
The tourism industry has experienced significant growth worldwide since the end of World War II. Tourists are drawn to suburban areas during weekends and holidays to explore historical and cultural heritage sites. Since the 1970s, there has been a resurgence in population growth in metropolitan areas, which has fueled the demand for suburban tourism and facilitated its development. The construction of infrastructure, such as railway lines and arterial roads, has also supported the growth of tourism. Tourists engaging in various activities can have a significant impact on the destinations they visit. Tourism has not only affected the local economy but has also begun to alter the social structures, culture, and lifestyle of the destinations visited. In addition, the growing number of tourists has affected the local commercial structure and daily life of suburban residents. Therefore, there is a need to figure out how tourism activities influence the residential environment of the tourist destination and how this influence changes over time. This study aims to analyze the transformation of the relationship between tourism activities and the residential environment in the Naka-Uji area of Uji City, Kyoto Prefecture. Specifically, it investigates how the growth of the tourism industry has influenced the local residential environment and how this influence has changed over time. The findings of the study indicate that the growth of tourism in the Naka-Uji area has had both positive and negative effects on the local residential environment. On the one hand, the tourism industry has created job opportunities and improved local economic conditions. On the other hand, it has also caused environmental degradation, particularly in terms of increased traffic and the construction of parking lots. The study also found that the development of the tourism industry has influenced the social structures, culture, and lifestyle of residents. For instance, the increase in the number of tourists has led to changes in the commercial structure and daily life of suburban residents. The study highlights the importance of collaboration and shared benefits among stakeholders in tourism development, particularly in terms of preserving the cultural and natural heritage of tourist destinations while promoting sustainable development. Overall, this study contributes to the growing body of research on the impact of tourism on suburban areas. It provides insights into the complex relationships between tourism, the natural environment, the local economy, and residential life and emphasizes the need for sustainable tourism development in suburban areas. The findings of this study have important implications for policymakers, urban planners, and other stakeholders involved in promoting regional revitalization and sustainable tourism development.Keywords: tourism, residential environment, suburban area, metropolis
Procedia PDF Downloads 771657 Transformation of the Relationship between Tourism Activities and Residential Environment in the Center of a Historical Suburban City of a Tourism Metropolis: A Case Study of Naka-Uji Area, Uji City, Kyoto Prefecture
Authors: Shuailing CUI, Nakajima Naoto
Abstract:
The tourism industry has experienced significant growth worldwide since the end of World War II. Tourists are drawn to suburban areas during weekends and holidays to explore historical and cultural heritage sites. Since the 1970s, there has been a resurgence in population growth in metropolitan areas, which has fueled the demand for suburban tourism and facilitated its development. The construction of infrastructure, such as railway lines and arterial roads, has also supported the growth of tourism. Tourists engaging in various activities can have a significant impact on the destinations they visit. Tourism has not only affected the local economy but has also begun to alter the social structures, culture, and lifestyle of the destinations visited. In addition, the growing number of tourists has affected the local commercial structure and daily life of suburban residents. Therefore, there is a need to figure out how tourism activities influence the residential environment of the tourist destination and how this influence changes over time. This study aims to analyze the transformation of the relationship between tourism activities and the residential environment in the Naka-Uji area of Uji City, Kyoto Prefecture. Specifically, it investigates how the growth of the tourism industry has influenced the local residential environment and how this influence has changed over time. The findings of the study indicate that the growth of tourism in the Naka-Uji area has had both positive and negative effects on the local residential environment. On the one hand, the tourism industry has created job opportunities and improved local economic conditions. On the other hand, it has also caused environmental degradation, particularly in terms of increased traffic and the construction of parking lots. The study also found that the development of the tourism industry has influenced the social structures, culture, and lifestyle of residents. For instance, the increase in the number of tourists has led to changes in the commercial structure and daily life of suburban residents. The study highlights the importance of collaboration and shared benefits among stakeholders in tourism development, particularly in terms of preserving the cultural and natural heritage of tourist destinations while promoting sustainable development. Overall, this study contributes to the growing body of research on the impact of tourism on suburban areas. It provides insights into the complex relationships between tourism, the natural environment, the local economy, and residential life, and emphasizes the need for sustainable tourism development in suburban areas. The findings of this study have important implications for policymakers, urban planners, and other stakeholders involved in promoting regional revitalization and sustainable tourism development.Keywords: tourism, residential environment, suburban area, metropolis
Procedia PDF Downloads 62