Search results for: Yangtze river economic belt

Authors: Shamsuddeen Muhammad Ahmad

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The emergence and operations of Islamic Financial Institutions (IFIs) are being regarded as the new economic and financial pride at the global stage today. Admittedly, therefore, the IFIs has continued to impact positively on the economies of its host countries, especially the Gulf Cooperation Council (GCC) region, Asian and Western countries as well as making a steady in-road into the sub-Saharan Africa. Hence, the number of countries that adopted Islamic financial system in Africa has continued to increase. As a matter of fact, this paper examines the role and contributions of Islamic Financial Institutions (IFIs) to the economic growth and financial development of the big emerging markets in the African continent i.e. South Africa, Nigeria, and Egypt. The methods adopted for this study are descriptive, comparative and analytical in nature. Essentially, the findings from this study reveal that the three sampled countries are benefitting from the presence of IFIs in their economies in terms of contributions to economic growth and real sector participation, particularly for Egypt and South Africa. Similarly, they reap from foreign direct investments and economic diversification among others. However, this study recommends that African countries should integrate IFIs as part and parcel of their economic and financial systems, in order to benefit optimally from this new economic phenomenon.

Keywords: Islamic financial services, Africa, emerging markets, development, operation

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Authors: K. P. K. S. Lahirushan, W. G. V. Gunasekara

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Main purpose of this study is to identifying the impact of government expenditure on economic growth in Asian Countries. Consequently, Fist, objective is to analyze whether government expenditure causes economic growth in Asian countries vice versa and then scrutinizing long-run equilibrium relationship exists between them. The study completely based on secondary data. The methodology being quantitative that includes econometrical techniques of cointegration, panel fixed effects model and granger causality in the context of panel data of Asian countries; Singapore, Malaysia, Thailand, South Korea, Japan, China, Sri Lanka, India and Bhutan with 44 observations in each country, totaling to 396 observations from 1970 to 2013. The model used is the random effects panel OLS model. As with the above methodology, the study found the fascinating outcome. At first, empirical findings exhibit a momentous positive impact of government expenditure on Gross Domestic Production in Asian region. Secondly, government expenditure and economic growth indicate a long-run relationship in Asian countries. In conclusion, there is a unidirectional causality from economic growth to government expenditure and government expenditure to economic growth in Asian countries. Hence the study is validated that it is in line with the Keynesian theory and Wagner’s law as well. Consequently, it can be concluded that role of government would play a vital role in economic growth of Asian Countries .However; if government expenditure did not figure out with the economy’s needs it might be considerably inspiration the economy in a negative way so that society bears the costs.

Keywords: Asian countries, government expenditure, Keynesian theory, Wagner’s theory, random effects panel ols model

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Authors: Abdul Ganiyu Iddrisu, Bei Chen

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Digitization is the process of transforming analog material into digital form, especially for storage and use in a computer. Significant development of information and communication technology (ICT) over the past years has encouraged many researchers to investigate its contribution to promoting economic growth and reducing poverty. Yet the compelling empirical evidence on the effects of digitization on economic growth remains weak, particularly in Africa. This is because extant studies that explicitly evaluate digitization and economic growth nexus are mostly reports and desk reviews. This points out an empirical knowledge gap in the literature. Hypothetically, digitization influences financial sector development which in turn influences economic growth. Digitization has changed the financial sector and its operating environment. Obstacles to access to financing, for instance, physical distance, minimum balance requirements, and low-income flows, among others can be circumvented. Savings have increased, micro-savers have opened bank accounts, and banks are now able to price short-term loans. This has the potential to develop the financial sector. However, empirical evidence on the digitization-financial development nexus is dearth. On the other hand, a number of studies maintained that financial sector development greatly influences growth of economies. We, therefore, argue that financial sector development is one of the transmission mechanisms through which digitization affects economic growth. Employing macro-country-level data from African countries and using fixed effects, random effects and Hausman-Taylor estimation approaches, this paper contributes to the literature by analysing economic growth in Africa, focusing on the role of digitization and financial sector development. First, we assess how digitization influences financial sector development in Africa. From an economic policy perspective, it is important to identify digitization determinants of financial sector development so that action can be taken to reduce the economic shocks associated with financial sector distortions. This nexus is rarely examined empirically in the literature. Secondly, we examine the effect of domestic credit to the private sector and stock market capitalization as a percentage of GDP as used to proxy for financial sector development on economic growth. Digitization is represented by the volume of digital/ICT equipment imported and GDP growth is used to proxy economic growth. Finally, we examine the effect of digitization on economic growth in the light of financial sector development. The following key results were found; first, digitalization propels financial sector development in Africa. Second, financial sector development enhances economic growth. Finally, contrary to our expectation, the results also indicate that digitalization conditioned on financial sector development tends to reduce economic growth in Africa. However, results of the net effects suggest that digitalization, overall, improve economic growth in Africa. We, therefore, conclude that, digitalization in Africa does not only develop the financial sector but unconditionally contributes the growth of the continent’s economies.

Keywords: digitalization, financial sector development, Africa, economic growth

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Authors: Pau Rausell-Koster, Jordi Sanjuan-Belda

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The economic crisis of 2008 had a special impact on cultural consumption in Spain. It fell by almost 30% in a few years, and its share of total family spending decreased from 3.19% in 2007 to 2.38% in 2015. In 2017, unlike other indicators, cultural consumption levels were still far from recovering their pre-crisis values. In times of economic difficulties, the satisfaction of primary subsistence needs takes priority over that of social, cultural and experiential needs, among which cultural consumption would mostly be framed. However, its evolution cannot be attributed exclusively to macroeconomic trends. In parallel to these, technological advances mainly related to the Internet have been disseminated in recent years, which have a very marked impact on the consumption patterns of some cultural sectors. Thus, the aim of this study is to define the causes of the decline in cultural consumption in Spain in recent years, and analyse what type of products, territories and population profiles suffered it especially. From the data analysis of the Family Budget Survey, the study seeks to improve the understanding of the determinants of cultural consumption and their behaviour in the face of macroeconomic trends, as well as identify and extract some policy implications regarding to the upcoming crisis caused by COVID-19.

Keywords: consume patterns, cultural consumption, economic crisis, economic trends

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Authors: Jae-Woo Kim, Kyung-Jung Lee, Hyun-Sik Ahn

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This paper presents a design methodology for the motor driven automotive subsystems with the consideration of the functional safety. There are many such modules in vehicles which use DC/AC motors for an electronic throttle control system, a motor driven power steering, a motor driven seat belt systems and for HVAC systems. The functional safety for the automotive electrical and electronic parts are standardized as ISO 26262, but the development procedure is very complex to be followed. We focus on the functional safe motor controller design process and show the designed motor controller hardware satisfies the required safety integrity level by using metric calculations with the safety mechanism.

Keywords: AUTOSAR, MDPS, Simulink, software component

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Authors: Ishara Madusanka, So Morikawa

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Natural disasters, particularly floods, pose severe challenges globally, affecting both developed and developing countries. In many regions, especially Asia, riverine floods are prevalent and devastating. Integrated flood management incorporates structural and non-structural measures, with preventive relocation emerging as a cost-effective and proactive strategy for areas repeatedly impacted by severe flooding. However, preventive relocation is often hindered by economic, psychological, social, and institutional barriers. This study investigates the factors influencing resistance to preventive relocation and evaluates the role of flood risk information in shaping relocation decisions through risk perception. A conceptual model was developed, incorporating variables such as Flood Risk Information (FRI), Place Attachment (PA), Good Living Conditions (GLC), and Adaptation to Flooding (ATF), with Flood Risk Perception (FRP) serving as a mediating variable. The research was conducted in Welipitiya in the Polwatta river basin, Matara district, Sri Lanka, a region experiencing recurrent flood damage. For this study, an experimental design involving a structured questionnaire survey was utilized, with 185 households participating. The treatment group received flood risk information, including flood risk maps and historical data, while the control group did not. Data were collected in 2023 and analyzed using independent sample t-tests and Partial Least Squares Structural Equation Modeling (PLS-SEM). PLS-SEM was chosen for its ability to model latent variables, handle complex relationships, and suitability for exploratory research. Multi-group Analysis (MGA) assessed variations across different flood risk areas. Findings indicate that flood risk information had a limited impact on flood risk perception and relocation decisions, though its effect was significant in specific high-risk areas. Place attachment was a significant factor influencing relocation decisions across the sample. One potential reason for the limited impact of flood risk information on relocation decisions could be the lack of specificity in the information provided. The results suggest that while flood risk information alone may not significantly influence relocation decisions, it is crucial in specific contexts. Future studies and practitioners should focus on providing more detailed risk information and addressing psychological factors like place attachments to enhance preventive relocation efforts.

Keywords: flood risk communication, flood risk perception, place attachment, preventive relocation, structural equation modeling

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Authors: Judit Nagy

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Many scientific studies claim that financial education should start as early as possible. Children are much more capable of and willing to absorb new concepts than adults. If we introduce children to financial knowledge early, their behaviour and attitudes to this subject will change, increasing later success in this area of life. However, poor financial decisions may entail severe consequences, not only to individuals but even to the wider society. Good financial decisions and economic attitudes may contribute to economic growth and well-being. Whilst in several countries, education about financial awareness and fundamentals is available, the understanding and acquisition of complex economic knowledge and the development of children’s independent problem-solving skills are still lacking. The results suggest that teaching economic and financial knowledge through accounting and making lectures interactive by using special tools of positive education is critical to stimulating children’s interest. Eighty percent of the students in the study liked the combined and interactive lecture. Introducing this kind of knowledge to individuals is a relevant objective, even at the societal level.

Keywords: positive psychology, education innovation, primary school, gender, economics, accounting, finance, personal finance, mathematics, economic growth, well-being, sustainability

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Authors: Manamba Epaphra

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This paper analyzes the causal effect between domestic private investment, public investment, foreign direct investment and economic growth in Tanzania during the 1970-2014 period. The modified neo-classical growth model that includes control variables such as trade liberalization, life expectancy and macroeconomic stability proxied by inflation is used to estimate the impact of investment on economic growth. Also, the economic growth models based on Phetsavong and Ichihashi (2012), and Le and Suruga (2005) are used to estimate the crowding out effect of public investment on private domestic investment on one hand and foreign direct investment on the other hand. A correlation test is applied to check the correlation among independent variables, and the results show that there is very low correlation suggesting that multicollinearity is not a serious problem. Moreover, the diagnostic tests including RESET regression errors specification test, Breusch-Godfrey serial correlation LM test, Jacque-Bera-normality test and white heteroskedasticity test reveal that the model has no signs of misspecification and that, the residuals are serially uncorrelated, normally distributed and homoskedastic. Generally, the empirical results show that the domestic private investment plays an important role in economic growth in Tanzania. FDI also tends to affect growth positively, while control variables such as high population growth and inflation appear to harm economic growth. Results also reveal that control variables such as trade openness and life expectancy improvement tend to increase real GDP growth. Moreover, a revealed negative, albeit weak, association between public and private investment suggests that the positive effect of domestic private investment on economic growth reduces when public investment-to-GDP ratio exceeds 8-10 percent. Thus, there is a great need for promoting domestic saving so as to encourage domestic investment for economic growth.

Keywords: FDI, public investment, domestic private investment, crowding out effect, economic growth

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Authors: Doki Naomi Onyeje, Doki Gowon Ama

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The past 4 years have been traumatic for Nigerians, having to deal with a number of complex economic issues with dire consequences for the economy. Households have had to respond variously to some of these problems in peculiar ways, depending, of course, on the nature and character of a particular shock. The type, magnitude, intensity and duration of a particular shock might be the determinant of different household responses. While households’ responses to the Global Financial Crisis and Covid 19 Pandemic have been documented by researchers, other economic shocks have continued to emerge in Nigeria. The dramatic turn of events since coming on board of the new government on May 29th 2023, has introduced a new economic twist that households will have to adjust to. This study, therefore, sets out to examine household responses by disaggregating them by their livelihood sources. A survey of 420 households across North Central Nigeria will be done to generate information on the respective responses. A Multinomial logit regression analysis will be employed to test the hypothesis that livelihood source(s) influences household responses to economic shocks. Consequently, responses from public and private households will be examined. The expected results should be that household responses might have some similarities, but it is expected that some peculiar responses across groups will emerge and these differences will guide for group-specific interventions. The Theatre for Development (TfD) approach will be used to disseminate and propagate results from this study to and among stakeholders for effective policy frameworks.

Keywords: drama, dynamics, economic shocks, household responses, Nigeria

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Authors: Marjan Majdi, MohammadAli Moradi, Elham Samarikhalaj

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Income distribution is one of the most topics in macro economic theories. There are many categories in economy such as income distribution that have the most influenced by economic policies. Human capital has an impact on economic growth and it has significant effect on income distributions. The results of this study confirm that the effects of oil revenue and human capital on income distribution are negative and significant but the value of the estimated coefficient is too small in a real sample in period time (1969-2006).

Keywords: gini coefficient, human capital, income distribution, oil revenue

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Authors: Spandan Sahu, Amiya Kumar Pati, Kishanjit Kumar Khatua

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The river is our main source of water which is a form of open channel flow and the flow in the open channel provides with many complex phenomena of sciences that need to be tackled such as the critical flow conditions, boundary shear stress, and depth-averaged velocity. The development of society, more or less solely depends upon the flow of rivers. The rivers are major sources of many sediments and specific ingredients which are much essential for human beings. During floods, part of a river is carried by the simple main channel and rest is carried by flood plains. For such compound asymmetric channels, the flow structure becomes complicated due to momentum exchange between the main channel and adjoining flood plains. Distribution of boundary shear in subsections provides us with the concept of momentum transfer between the interface of the main channel and the flood plains. Experimentally, to get better data with accurate results are very complex because of the complexity of the problem. Hence, CES software has been used to tackle the complex processes to determine the shear stresses at different sections of an open channel having asymmetric flood plains on both sides of the main channel, and the results are compared with the symmetric flood plains for various geometrical shapes and flow conditions. Error analysis is also performed to know the degree of accuracy of the model implemented.

Keywords: depth average velocity, non prismatic compound channel, relative flow depth, velocity distribution

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Authors: Mubashra Khalid, Saadia Amir

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This study initiated to explore the empirical relationship between psychological effects of economic recession on the educated youth in Pakistan. The diminishing economic resources during recession can create certain psychological consequences on the physical and cognitive aspects of the individuals. It may generate symptoms like aggression, depression, anxiety, frustration, stress and physical health related problems among the young generation. The sample of the study was consisted of 300 students belonging to six public sector universities of the Punjab province of Pakistan. Two hypotheses were advanced in this study regarding the relationship between recession and its effects on educated youth. The findings of the research represent that a significant relationship exists between decrease in employment opportunities and growing rate of aggression among educated youth and a significant association was found between economic instability and its influence on the learning abilities of the students during recession.

Keywords: psychological effects, recession, educated youth

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Authors: Smart E. Amanfo

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Although the exact functional relationship between energy consumption and economic growth and development remains a complex social science, there is a sustained growing of agreement among energy economists and the likes on direct or indirect role of energy use in the development process, and as sustenance for many of societal achieved socio-economic and environmental developments in any economy. According to OECD, the world economy will double by 2050 in which the two members of BRICS (Brazil, Russia, India, China and South Africa) countries: China and India lead. There is a global apprehension that if countries constituting the epicenter of the present and future economic growth follow the same trajectory as during and after Industrial Revolution, involving higher energy throughputs, especially fossil fuels, the already known and models predicted threats of climate change and global warming could be exacerbated, especially in the developing economies. The international community’s challenge is how to address the trilemma of economic growth, social development, poverty eradication and stability of the ecological systems. This paper aims at providing the estimates of economic growth, energy consumption, and carbon dioxide emissions using BRICS members’ panel data from 1980 to 2017. The preliminary results based on fixed effect econometric model show positive significant relationship between energy consumption and economic growth. The paper further identified a strong relationship between economic growth and CO2 emissions which suggests that the global agenda of low-carbon-led growth and development is not a straight forward achievable The study therefore highlights the need for BRICS member states to intensify low-emissions-based production and consumption policies, increase renewables in order to avoid further deterioration of climate change impacts.

Keywords: BRICS, sustainability, sustainable development, energy consumption, economic growth

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Authors: Mohamed Djalil Zaafour, Samir Chekchaki, Mohamed Benslama

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The Landfill of El Matrouha is located in El-Tarf town (extreme north east of Algeria), the Landfill is present as a gigantic wild dump. This waste dump occupies an area of over four hectares, tons of rubbish that is sent daily are scattered over kilometers, reaching farmland located west of the town, the landfill is close to a temporary Oued, which supply Oued Guergour the last tributary Oued El Kebir. The landfills are causing serious environmental damage, following the infiltration of leachates, which contribute to the degradation of water quality, in the context of this problem, the purpose of the work is focused on assessing the impact of this landfill on Oued El-Kebir, for this a series of sampling and analysis of the soil and water of this Oued was performed; The results show that the soil collected reveal the sandy texture facilitating infiltration and percolation of leachate from the landfill; the physicochemical analysis of the quality of the river water reveals high levels of sulfates in fact this element is one of the essential constituents of the mineral fraction of the waste presenting a risk of pollution by this element, The recorded values for nutrients are sub-standard, for trace elements analysis shows very low metal load on the river except for lead, which is present at high concentrations exceeding all standard.

Keywords: Algeria, landfill, leachates, Oued El-kebir

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Authors: Haruna Modibbo Usman, Mustapha Muktar, Nasiru Inuwa

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This paper examined the long run relationship between health outcomes and economic growth in Nigeria from 1961 to 2012. Using annual time series data, Augmented Dickey-Fuller (ADF) test is conducted to check the stochastic properties of the variables. Also, the long run relationship among the variables is confirmed based on Johansen Multivariate Cointegration approach whereas the long run and short run dynamics are observed using Vector Error Correction Mechanism (VECM). In addition, VEC Granger causality test is employed to examine the direction of causality among the variables. On the whole, the results obtained revealed the existence of a long run relationship between health outcomes and economic growth in Nigeria and that both life expectancy and crude death rate as measures of health are found to have a long run negative and statistically significant impact on the economic growth over the study period. This is further buttressed by the results of Granger causality test which indicated the existence of unidirectional causality running from life expectancy and crude death rate to economic growth. The study therefore, calls for governments at various levels to create preconditions for health improvements in Nigeria in order to boost the level of health outcomes.

Keywords: cointegration, economic growth, Granger causality, health outcomes, VECM

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Authors: Alireza Alizadeh, Hossein Ghadimi, Oveis Abedinia, Noradin Ghadimi

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A Particle Swarm Optimization with Time Varying Acceleration Coefficients (PSO-TVAC) is proposed to determine optimal economic load dispatch (ELD) problem in this paper. The proposed methodology easily takes care of solving non-convex economic load dispatch problems along with different constraints like transmission losses, dynamic operation constraints and prohibited operating zones. The proposed approach has been implemented on the 3-machines 6-bus, IEEE 5-machines 14-bus, IEEE 6-machines 30-bus systems and 13 thermal units power system. The proposed technique is compared to solve the ELD problem with hybrid approach by using the valve-point effect. The comparison results prove the capability of the proposed method giving significant improvements in the generation cost for the economic load dispatch problem.

Keywords: PSO-TVAC, economic load dispatch, non-convex cost function, prohibited operating zone, transmission losses

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Authors: Mekonen G., Sileshi M., Melkamu M.

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Recharge estimation is important for the assessment and management of groundwater resources effectively. This study applied the soil moisture balance and Baseflow separation methods to estimate groundwater recharge in the Fetam Catchment. It is one of the major catchments understudied from the different catchments in the upper Blue Nile River basin. Surface water has been subjected to high seasonal variation; due to this, groundwater is a primary option for drinking water supply to the community. This research has been conducted to estimate groundwater recharge by using fifteen years of River flow data for the Baseflow separation and ten years of daily meteorological data for the daily soil moisture balance recharge estimating method. The recharge rate by the two methods is 170.5 and 244.9mm/year daily soil moisture and baseflow separation method, respectively, and the average recharge is 207.7mm/year. The average value of annual recharge in the catchment is almost equal to the average recharge in the country, which is 200mm/year. So, each method has its own limitations, and taking the average value is preferable rather than taking a single value. Baseflow provides overestimated result compared to the average of the two, and soil moisture balance is the list estimator. The recharge estimation in the area also should be done by other recharge estimation methods.

Keywords: groundwater, recharge, baseflow separation, soil moisture balance, Fetam catchment

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Authors: Ronit Chakraborty

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Kolkata, formerly known as Calcutta, is the capital of West Bengal state and the former capital of India (1722-1911) of British India. Located at the heart of Hugli river (one of the main channels of Ganges river), the city is the heart of the state, which forms a base for commerce, transport and manufacture. The large and vibrant city thrives amidst the economic, social and political issues arising from the pages of history to the contemporary times. The unique nature, grandeurs, public debates on tea-stalls and obviously the charismatic scenic beauty and heritage keep the city to be criticized in all horizons, across the world. Movies in India are a big source of knowledge, which can be used as a powerful tool for political mobilization and to indirectly communicate with voters since cinema can be used as a tool of propaganda as it has a wide range of public interests. History proves the fact that films produced in India have been apt enough in making public interests be deeply portrayed through their content in a versatile manner. Such is the portrayal of India’s first capital, Kolkata and its ultimate truth being organizingly laid over by the trilogy of two international fame directors-Mrinal Sen and Satyajit Ray, through their ‘magnum opus- the ‘Kolkata trilogy’. Mrinal Sen’s Interview(1971), Calcutta 71(1972), Padatik(The Guerilla Fighter)(1973) and Satyajit Ray’s Pratidwandi (The Adversary)(1970), Seemabaddha(Company Limited)(1971), Jana Aranya(1976). These films picturized the contemporary Kolkata trends, issues and crises arising amidst the political set-up both by the positive and negative variables attributing to the day-to-day happenings of the city. The movies have been set amidst the turmoil that the nation was going through during Indira Gandhi’s declaration of Emergency, resulting from the general sense of disillusionment that prevailed during that time. Ray wasn't affiliated to any political party and his films largely contributed towards the contemporary conditions prevailing in the society. Mrinal Sen, being a Marxist was in constant search of the bitter truth that the society had to offer through his lens under the prevailing darkness through his trilogy. The research paper attempts to widely view and draw a comparative study of the overall description of the city of Kolkata as portrayed by Sen and Ray in their respective trilogies. By the usage of the visual content analysis method, the researcher has explored the six movies; both the trilogies of Mrinal Sen and Satyajit Ray and tried to analyse the differences as well as the similarities pertaining to understand India’s first capital city Kolkata in various dimensions along with its circumference.

Keywords: Kolkata, trilogy, Satyajit Ray, Mrinal Sen, films, comparative study

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Authors: Thendiyath Roshni, Stefano Pagliara

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Block ramps (BR) or rock chutes are eco-friendly natural river restoration structures. BR are made of ramp of rocks and flows over BR develop turbulence and helps in the entrainment of ambient air. These act as natural aerators in river flow and therefore leads to oxygenation of water. As many of the hydraulic structures in rivers, hinders the natural path for aquatic habitat. However, flows over BR ascertains a natural rocky flow and ensures safe and natural movement for aquatic habitat. Hence, BR is considered as a better alternative for drop structures. As water quality is concerned, turbulent and aerated flows over BR or macro-roughness conditions improves aeration and thereby oxygenation. Hence, the objective of this paper is to study the oxygenation in the turbulent flows over BR. Experimental data were taken for a slope (S) of 27.5% for three discharges (Q = 9, 15 and 21 lps) conditions. Air concentration were measured with the help of air concentration probe for three different discharges in the uniform flow region. Oxygen concentration is deduced from the air concentration as ambient air is entrained in the flows over BR. Air concentration profiles and oxygen profiles are plotted in the uniform flow region for three discharges and found that air concentration and oxygen concentration does not show any remarkable variation in properties in the longitudinal profile in uniform flow region. An empirical relation is developed for finding the average oxygen concentration (Oₘ) for S = 27.5% in the uniform flow region for 9 < Q < 21 lps. The results show that as the discharge increases over BR, there is a reduction of oxygen concentration in the uniform flow region.

Keywords: aeration, block ramps, oxygenation, turbulent flows

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Authors: Walaa W. Diab

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The present paper offers a fundamental critique of the macroeconomic effects of fiscal policy after it surveys the theoretical and empirical literature on the macroeconomic effects of fiscal policy. It emphasizes the importance of the fiscal policy after reviewing the revolution of almost all economic schools and bringing them in one summarized figure; the paper links the developmental role of the fiscal policy with the objectives and measures of the economic transformation. Thus, the importance of this study can be seen from several perspectives: First, it reviews the theoretical harvest of fiscal policy and provides a comparison between the main revolutionary Economic thoughts; the classical school, Keynesian school, and monetarist school. Then it turns to conclude the fiscal policy from the new consensus mainstream economic schools. Finally, the study presents grouped and classified empirical pieces of evidence as it divides those empirical studies into two groups; the first for developed economies and the second for developing ones. So the study is important also for the policymakers as well as scholars as it gives its recommendations upon the last analysis in the form of ‘policy implications’. The paper also presents a deeper look into the evaluation approaches of the macroeconomic effects of fiscal policy at the empirical level. Thus it is useful for both researchers and decision makers.

Keywords: economic transformation, fiscal policy, macroeconomic effects, public spending

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Authors: Shpetim Rezniqi

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

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

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Authors: Maria Elisa B. Manuel

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The Philippine housing sector is bracing challenges with the massive housing backlog and the adamant cycle of relocation, resettlement and returns to the cities of informal settler families due to the vast inaccessibility of necessities and opportunities in the past off-city housing projects. Bistekville 2 has been established as a model socialized housing project by utilizing government partnerships with private developers and individuals in the first in-city and onsite resettlement effort in the country. The study looked into the resilience of the residents to idiosyncratic economic shocks by analyzing their vulnerabilities, assets and coping strategies. The study formulated an economic resilience framework to identify how these factors that interact to build the household’s capacity to positively adapt to sudden expenses in their households. The framework is supplemented with a scale that presents the proximity of the household to resilience by identifying through its indicators whether the households are in the level of subsistence, coping, adaptive or transformative. Survey interviews were conducted with 91 households from Bistekville 2 on the components that have been identified by the framework that was processed with qualitative and quantitative processes. The study has found that the households are highly vulnerable due to their family composition and other conditions such as unhealthy loans, inconsistent amortization payment. Along with their high vulnerability, the households have inadequate strategies to anticipate shocks and primarily react to the shock. This has led to the conclusion that the households do not reflect resilience to idiosyncratic economic shocks and are still at the level of coping.

Keywords: idiosyncratic economic shocks, socialized housing, economic resilience, economic vulnerability, adaptive capacity

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Authors: Minakshi Jain, I. P. Singh

Abstract:

The mountain system makes the one fifth of the world’s landscape and is the home to the 600 million people. Though hills and mountains contain about 10 percent of the total population of the country, yet almost half of the country’s population living in or adjacent to the mountain areas depend directly or indirectly on the resources of the hills. Mountain environments are essential to the survival of the global ecosystems, as they sustain the economy of India through its perennial river system and precious forest wealth. Hill areas, with distinct climate, diverse vegetation and valuable flora & fauna are distinguished primarily by unique eco-system, rich both in bio-diversity and visual resources. These areas have special significance in terms of environment and economy. Still the irony is that these mountain ecosystems are fragile and highly susceptible to disturbance, with a low ability to rebound and heal after damage. Hills are home to endangered species, biological diversity and an essential part of the ecosystem. They are extremely sensitive to any human related development. Natural systems are the most ignored in the hills. The way the cities and towns have encroached them today has the serious repercussions on the climate. Amidst immense resources and constraints of nature, the town had a fantastic diversity of cultural and ethnic characteristics nurtured through ages along river basin and valley strung across the length and breadth of this Himalayan setting.

Keywords: eco-system, bio-diversity, urban sprawl, vernacular landscape

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Authors: Adnan F. Sheikh, Fayaz A. Mir

Abstract:

After the recent devastating flood in Kashmir in 2014, dredging of the local water bodies, especially Jhelum River has become a priority for the government. Local government under the project name of 'Comprehensive Flood Management Programme' plans to undertake an increase in discharge of existing flood channels by removal of encroachments and acquisition of additional land, dredging and other works of the water bodies. The total quantity of soil to be dredged will be 16.15 lac cumecs. Dredged soil is a major component that would result from the project which requires disposal/utilization. This study analyses the effect of cement and sand on the engineering properties of soil. The tests were conducted with variable additions of sand (10%, 20% and 30%), whereas cement was added at 12%. Samples with following compositions: soil-cement (12%) and soil-sand (30%) were tested as well. Laboratory experiments were conducted to determine the engineering characteristics of soil, i.e., compaction, strength, and CBR characteristics. The strength characteristics of the soil were determined by unconfined compressive strength test and direct shear test. Unconfined compressive strength of the soil was tested immediately and for a curing period of seven days. CBR test was performed for unsoaked, soaked (worst condition- 4 days) and cured (4 days) samples.

Keywords: comprehensive flood management programme, dredge soil, strength characteristics, flood

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Authors: Hasan Kalyoncu, Füsun Kılçık, Hatice Gülboy Akyıldırım, Aynur Özen, Mehmet Acar, Nur Yoluk

Abstract:

For evaluation of water quality of the river systems in Antalya Basin, macrozoobenthos samples were taken from 22 determined stations by a hand net and identified at family level. Water quality of Antalya Basin was determined according to Biological Monitoring Working Party (BMWP) system, by using macrozoobenthic invertebrates and physicochemical parameters. As a result of the evaluation, while Aksu Stream was determined as the most polluted stream in Antalya Basin, Isparta Stream was determined as the most polluted tributary of Aksu Stream. Pollution level of the Isparta Stream was determined as quality class V and it is the extremely polluted part of stream. Pollution loads at the sources of the streams were determined in low levels in general. Due to some parts of the streams have passed through deep canyons and take their sources from nonresidential and non-arable regions, majority of the streams that take place in Antalya Basin are at high quality level. Waste water, which comes from agricultural and residential regions, affects the lower basins of the streams. Because of the waste water, lower parts of the stream basins exposed to the pollution under anthropogenic effects. However, in Aksu Stream, which differs by being exposed to domestic and industrial wastes of Isparta City, extreme pollution was determined, particularly in the Isparta Stream part.

Keywords: Antalya basin, biomonitoring, BMWP, water quality

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Authors: Chuan Yang, Jing Bie, Zhong Wang, Panagiotis Psimoulis

Abstract:

Contemporary studies investigating the association between the spatial configuration of the urban network and economic activities at the street level were mostly conducted within space syntax conceptual framework. These findings supported the theory of 'movement economy' and demonstrated the impact of street configuration on the distribution of pedestrian movement and land-use shaping, especially retail activities. However, the effects varied between different urban contexts. In this paper, the relationship between economic activity distribution and the urban configurational characters was examined at the segment level. In the study area, three kinds of neighbourhood types, urban, suburban, and rural neighbourhood, were included. And among all neighbourhoods, three kinds of urban network form, 'tree-like', grid, and organic pattern, were recognised. To investigate the nested effects of urban configuration measured by space syntax approach and urban context, multilevel zero-inflated negative binomial (ZINB) regression models were constructed. Additionally, considering the spatial autocorrelation, spatial lag was also concluded in the model as an independent variable. The random effect ZINB model shows superiority over the ZINB model or multilevel linear (ML) model in the explanation of economic activities pattern shaping over the urban environment. And after adjusting for the neighbourhood type and network form effects, connectivity and syntax centrality significantly affect economic activities clustering. The comparison between accumulative and new established economic activities illustrated the different preferences for economic activity location choice.

Keywords: space syntax, economic activities, multilevel model, Chinese city

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Authors: Alba Ballester Ciuró, Marc Pares Franzi

Abstract:

While coming decades are likely to see a higher flood risk in Europe and greater socio-economic damages, traditional flood risk management has become inefficient. In response to that, new approaches such as capacity building and public participation have recently been incorporated in natural hazards mitigation policy (i.e. Sendai Framework for Action, Intergovernmental Panel on Climate Change reports and EU Floods Directive). By integrating capacity building and public participation, we present a research concerning the promotion of participatory social capacity building actions for flood risk mitigation at the local level. Social capacities have been defined as the resources and abilities available at individual and collective level that can be used to anticipate, respond to, cope with, recover from and adapt to external stressors. Social capacity building is understood as a process of identifying communities’ social capacities and of applying collaborative strategies to improve them. This paper presents a proposal of systematization of participatory social capacity building process for flood risk mitigation, and its implementation in a high risk of flooding area in the Ebro river basin: Ribera Alta del Ebro. To develop this process, we designed and tested a tool that allows measuring and building five types of social capacities: knowledge, motivation, networks, participation and finance. The tool implementation has allowed us to assess social capacities in the area. Upon the results of the assessment we have developed a co-decision process with stakeholders and flood risk management authorities on which participatory activities could be employed to improve social capacities for flood risk mitigation. Based on the results of this process, and focused on the weaker social capacities, we developed a set of participatory actions in the area oriented to general public and stakeholders: informative sessions on flood risk management plan and flood insurances, interpretative river descents on flood risk management (with journalists, teachers, and general public), interpretative visit to the floodplain, workshop on agricultural insurance, deliberative workshop on project funding, deliberative workshops in schools on flood risk management (playing with a flood risk model). The combination of obtaining data through a mixed-methods approach of qualitative inquiry and quantitative surveys, as well as action research through co-decision processes and pilot participatory activities, show us the significant impact of public participation on social capacity building for flood risk mitigation and contributes to the understanding of which main factors intervene in this process.

Keywords: flood risk management, public participation, risk reduction, social capacities, vulnerability assessment

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Authors: Ravindra Gohane, S. V. Deshmukh

Abstract:

The coal acts as a fuel on a very large scale. Coal forms the basis of any thermal power plant. Different types of coal are available for utilization. The moisture content, volatile nature and ash content determines the type of the coal. Out of these moisture plays a very important part as it is present naturally within the coal and is added while handling the coal and is termed as wet coal. The problems of wet coal are many and more particularly during rainy season such as generation loss, jamming of crusher, reduction in calorific value, transportation of coal etc. Efforts are made to resolve the problems arising out of wet coal worldwide. This paper highlights the issue of resolving the problem due to wet coal with the help of a case study involving installation of V-type wiper on the conveyer belt.

Keywords: coal handling plant, wet coal, v-type, generation

Procedia PDF Downloads 351

Authors: Nour Mohamad Fayad

Abstract:

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

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

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Authors: G. Sarwar, C. Mateus, N. Todorovic

Abstract:

The paper examines the asymmetries in size, value and momentum premium over the economic cycles in the UK and their macroeconomic determinants. Using Markov switching approach we find clear evidence of cyclical variations of the three premiums, most noticeably variations in size premium. We associate Markov switching regime 1 with economic upturn and regime 2 with economic downturn as per OECD’s Composite Leading Indicator. The macroeconomic indicators prompting such cyclicality the most are interest rates, term structure and credit spread. The role of GDP growth, money supply and inflation is less pronounced in our sample.

Keywords: macroeconomic determinants, Markorv Switching, size, value

Procedia PDF Downloads 483