Search results for: hydrogen economy

Authors: Sibo Lu, Zhongkai Qian

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This study endeavors to articulate a spectrum of capitalist transformation from a politico-economic perspective, categorizing the development of capitalism into pre-modern, modern, and post-modern stages while examining the transitions between these states. It critically engages with the concepts of pre-modernity, modernity, and post-modernity, typically aligned with cultural studies, to shed light on their objective changes in the politico-economic realm. Post-modernity, in this context, is associated with the transition to high-value-added services and economic growth in ‘developed’ countries amidst globalization, framing a ‘neoliberal’ economic transformation. The paper scrutinizes the neoliberal economic shifts in the latter half of the 20th century as part of the post-modern state, arguing against viewing post-modernity merely as a cultural or subjective interpretative stance. Instead, it is posited as a concrete politico-economic phase marked by the dominance of post-Fordist systems. Through integrating insights from the political economy with continental philosophy, this research provides a nuanced analysis of capitalism's evolution, challenging conventional class analyses under the capitalist system and fostering a broader understanding of socio-economic paradigms.

Keywords: post marxism, critical theory, political economy, capitalism transformation

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Authors: Rizwan Fazal

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This study investigates the behavior of external sector of Pakistan economy and its impact on economic growth, using quarterly data for the period 1990:01-2010:04. External sector indices used in this study are financial integration, net foreign assets and trade integration. Augmented Ducky fuller confirms that all variables of external sector are non-stationary at level, but at first difference it becomes stationary. The co-integration test suggests one co-integrating variables in the study. The analysis is based on Vector Auto Regression model followed by Vector Error Correction Model. The empirical findings show that financial integration play important role in increasing economic growth in Pakistan economy while trade integration has negative effect on economic growth of Pakistan in the long run. However, the short run confirms that output lag accounts for error correction. The estimated CUSUM and CUSUMQ stability test provide information that the period of the study equation remains stable.

Keywords: financial integration, trade integration, net foreign assets, gross domestic product

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Authors: Hassan Badkoobehi, Pradip Peter Dey, Mohammad Amin, Milan Jose Carlos, Basmal Hana, Fadi Zaco

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The economy of coastline areas depends on the natural splendor of estuaries. When estuaries are improperly managed or polluted, long or short term damage to local economy or harm to local life forms can be caused. Estuaries are shelters for thousands of species such as birds, mammals, fish, crustaceans, insects, reptiles, and amphibians. The delicate balance of these life forms in estuaries requires careful planning for the benefit of all. The commercial value of estuaries is very important; recreational activities that people enjoy like boating, kayaking, windsurfing, swimming, bird-watching and fishing are marketable. Estuaries are national treasures with vital community and ecological resources. Years of estuarine environmental studies have produced extensive results that merit consideration. This study reviews research results from various sources and suggests best strategies for maintaining healthy estuaries in the current socioeconomic conditions. The main hypothesis is that many estuaries can be restored to their original healthy status in a cost effective manner with restoration or prevention plans suggested in published studies.

Keywords: environment, pollution, sustainable, wildlife

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Authors: Fatemeh Moosavi, Tumelo Franck Nkoshwane

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Peter Drucker the renowned management guru once said, “The best way to predict the future is to create it.” Mr. Drucker is also the man who placed human capital as the most vital resource of any institution. As such any institution bent on creating a better future, requires a competent human capital, one that is able to execute with efficiency and effectiveness the objective a society aspires to. Technology today is accelerating the rate at which many societies transition to knowledge based societies. In this accelerated paradigm, it is imperative that those in leadership establish a platform capable of sustaining the planned future; intellectual capital. The capitalist economy going into the future will not just be sustained by dollars and cents, but by individuals who possess the creativity to enterprise, innovate and create wealth from ideas. This calls for cities of the future, to have this premise at the heart of their future plan, if the objective of designing sustainable and liveable future cities will be realised. The knowledge economy, now transitioning to the creative economy, requires cities of the future to be ‘gardens’ of inspiration, to be places where knowledge, creativity, and innovation can thrive as these instruments are becoming critical assets for creating wealth in the new economic system. Developing nations must accept that learning is a lifelong process that requires keeping abreast with change and should invest in teaching people how to keep learning. The need to continuously update one’s knowledge, turn these cities into vibrant societies, where new ideas create knowledge and in turn enriches the quality of life of the residents. Cities of the future must have as one of their objectives, the ability to motivate their citizens to learn, share knowledge, evaluate the knowledge and use it to create wealth for a just society. The five functional factors suggested by Kevin Lynch;-vitality, meaning/sense, adaptability, access, control, and monitoring should form the basis on which policy makers and urban designers base their plans for future cities. The authors of this paper believe that developing nations “creative economy clusters”, cities where creative industries drive the need for constant new knowledge creating sustainable learning creative cities. Obviously the form, shape and size of these districts should be cognisant of the environmental, cultural and economic characteristics of each locale. Gaborone city in the republic of Botswana is presented as the case study for this paper.

Keywords: learning city, sustainable creative city, creative industry, good city form

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Authors: Mehrangiz Rezaee, Zabih Charrahi

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In the last decade, with increasing tourism destinations and tourism growth, we are witnessing the widespread impacts of tourism on the economy, environment and society. Tourism and its related economy are now undergoing a transformation and as one of the key pillars of business economics, it plays a vital role in the world economy. Activities related to tourism and providing services appropriate to it in an area, like many economic sectors, require the necessary context on its origin. Given the importance of tourism industry and tourism potentials of Yazd province in Iran, it is necessary to use a proper procedure for prioritizing different areas for proper and efficient planning. One of the most important goals of planning is foresight and creating balanced development in different geographical areas. This process requires an accurate study of the areas and potential and actual talents, as well as evaluation and understanding of the relationship between the indicators affecting the development of the region. At the global and regional level, the development of tourist resorts and the proper distribution of tourism destinations are needed to counter environmental impacts and risks. The main objective of this study is the sustainable development of suitable tourism areas. Given that tourism activities in different territorial areas require operational zoning, this study deals with the evaluation of territorial tourism using concepts such as land use, fitness and sustainable development. It is essential to understand the structure of tourism development and the spatial development of tourism using land use patterns, spatial planning and sustainable development. Tourism spatial planning implements different approaches. However, the development of tourism as well as the spatial development of tourism is complex, since tourist activities can be carried out in different areas with different purposes. Multipurpose areas have great important for tourism because it determines the flow of tourism. Therefore, in this paper, by studying the development and determination of tourism suitability that is related to spatial development, it is possible to plan tourism spatial development by developing a model that describes the characteristics of tourism. The results of this research determine the suitability of multi-functional territorial tourism development in line with spatial planning of tourism.

Keywords: land use change, spatial planning, sustainability, territorial tourist, Yazd

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Authors: Ruijie Fan, Hao Xu

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Due to the increasing demand for resources, solid waste disposal is becoming an increasingly important issue to be addressed. Solid waste is not only hazardous to human health but also has a negative impact on the environment. The main sources of solid waste are metals, glass, food, plastics, paper, and electrical waste. Different types of waste may require different treatments. The UK currently lags behind other countries, such as Japan and Germany, in terms of waste management. Although the UK is catching up through various incentives, waste management education in the UK still faces challenges. Education requires a lot of work before the UK can achieve a circular economy. This paper first presents the latest information on the five main types of solid waste in the UK today. It delves into the current state of waste paper management in the UK, in addition to gathering information from the literature on the current state of waste management education in the UK as a whole. Potential barriers to the disposal of each waste type in the UK are identified, along with potential barriers to education in the UK. This study was based on a pragmatic philosophy to find possible solutions for these barriers, including questionnaires to conduct an in-depth investigation. In addition, the questionnaire analysis reveals a correlation between educational attainment and individual waste management behaviour and attitudes. This research guides inspiration on the current problems of waste management in the UK.

Keywords: circular economy, education, solid waste, waste management

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Authors: Mirza Waseem Abbas, Syed Danish Raza

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For many countries agriculture is still the major force driving the economy and a critically important socioeconomic sector, despite exceptional industrial development across the globe. In countries like Pakistan, this sector is considered the backbone of the economy, and most of the economic decision making revolves around agricultural outputs and data. Timely and accurate facts and figures about this vital sector hold immense significance and have serious implications for the long-term development of the economy. Therefore, any significant improvements in the statistics and other forms of data regarding agriculture sector are considered important by all policymakers. This is especially true for decision making for the betterment of crops and the agriculture sector in general. Provincial and federal agricultural departments collect data for all cash and non-cash crops and the sector, in general, every year. Traditional data collection for such a large sector i.e. agriculture, being time-consuming, prone to human error and labor-intensive, is slowly but gradually being replaced by remote sensing techniques. For this study, remotely sensed data were used for change detection (machine learning, supervised & unsupervised classification) to assess the increase or decrease in area under agriculture over the last fifteen years due to urbanization. Detailed Landsat Images for the selected agricultural districts were acquired for the year 2000 and compared to images of the same area acquired for the year 2016. Observed differences validated through detailed analysis of the areas show that there was a considerable decrease in vegetation during the last fifteen years in four major agricultural districts of the Punjab province due to urbanization (housing societies).

Keywords: change detection, area estimation, machine learning, urbanization, remote sensing

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Authors: Renzhi Qi, Zhaoping Zhong

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Under the dual pressure of the global energy crisis and environmental pollution, avoiding the consumption of non-renewable fossil fuels based on carbon as the energy carrier and developing and utilizing non-carbon energy carriers are the basic requirements for the future new energy economy. Electrocatalyst for water splitting plays an important role in building sustainable and environmentally friendly energy conversion. The oxygen evolution reaction (OER) is essentially limited by the slow kinetics of multi-step proton-electron transfer, which limits the efficiency and cost of water splitting. In this work, CeO₂@NiCo-NRGO/NF hybrid materials were prepared using nickel foam (NF) and nitrogen-doped reduced graphene oxide (NRGO) as conductive substrates by multi-step hydrothermal method and were used as highly efficient catalysts for OER. The well-connected nanosheet array forms a three-dimensional (3D) network on the substrate, providing a large electrochemical surface area with abundant catalytic active sites. The doping of CeO₂ in NiCo-NRGO/NF electrocatalysts promotes the dispersion of substances and its synergistic effect in promoting the activation of reactants, which is crucial for improving its catalytic performance against OER. The results indicate that CeO₂@NiCo-NRGO/NF only requires a lower overpotential of 250 mV to drive the current density of 10 mA cm-2 for an OER reaction of 1 M KOH, and exhibits excellent stability at this current density for more than 10 hours. The double layer capacitance (Cdl) values show that CeO₂@NiCo-NRGO/NF significantly affects the interfacial conductivity and electrochemically active surface area. The hybrid structure could promote the catalytic performance of oxygen evolution reaction, such as low initial potential, high electrical activity, and excellent long-term durability. The strategy for improving the catalytic activity of NiCo-LDH can be used to develop a variety of other electrocatalysts for water splitting.

Keywords: CeO₂, reduced graphene oxide, NiCo-layered double hydroxide, oxygen evolution reaction

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Authors: A. Camões, M. Ferreira Dias, M. Amorim

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In recent years, the social economy is increasingly seen as a viable means to address social problems. Social enterprises, as well as public projects and initiatives targeted to meet social purposes, offer organizational models that assume heterogeneity, flexibility and adaptability to the ‘real world and real problems’. Despite the growing popularity of social initiatives, decision makers still face a paucity in what concerns the available models and tools to adequately assess its sustainability, and its impacts, notably the nature of its contribution to economic growth. This study was carried out at the local level, by analyzing the social impact initiatives and projects promoted by the Municipality of Albergaria-a-Velha (Câmara Municipal de Albergaria-a-Velha -CMA), a municipality of 25,000 inhabitants in the central region of Portugal. This work focuses on the challenges related to the qualifications and employability of citizens, which stands out as one of the key concerns in the Portuguese economy, particularly expressive in the context of small-scale cities and inland territories. The study offers a characterization of the Municipality, its socio-economic structure and challenges, followed by an exploratory analysis of multiple sourced data, collected from the CMA's documental sources as well as from privileged informants. The purpose is to conduct detailed analysis of the CMA's social projects, aimed at characterizing its potential impact for the model of qualifications and employability of the citizens of the Municipality. The study encompasses a discussion of the socio-economic profile of the municipality, notably its asymmetries, the analysis of the social projects and initiatives, as well as of data derived from inquiry actors involved in the implementation of the social projects and its beneficiaries. Finally, the results obtained with the Better Life Index will be included. This study makes it possible to ascertain if what is implicit in the literature goes to the encounter of what one experiences in reality.

Keywords: measurement, municipalities, social economy, social impact

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Authors: Sobia Shafqat, Saeed Ahmad Qaisrani

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MicroRNAs play an essential role in the regulation and development of all processes in most eukaryotes because of their prospective part as mediators controlling cell growth and differentiation towards the exact position of RNAs response in plants under biotic and abiotic factors or stressors. In a few cases, Zn is oblivious poisonous for plants due to its heavy metal status. Some other metals are extremely toxic, like Cd, Hg, and Pb, but these elements require in rice for the programming of genes under abiotic stress resembling Zn stress when micro RNAs268 was importantly introduced in rice. The micro RNAs overexpressed in transgenic plants with an accumulation of a large amount of melanin dialdehyde, hydrogen peroxide, and an excessive quantity of Zn in the seedlings stage. Let out results for rice pliability under Zn stress micro RNAs act as negative controllers. But the role of micro RNA268 act as a modulator in different ecological condition. It has been explained clearly with a long understanding of the role of micro RNA268 under stress conditions; pliability and practically showed outcome to increase plant sufferance under Zn stress because micro RNAs is an intervention technique for gene regulation in gene expression. The proposed study was experimented with by using genetic factors of Zn stress and toxicity effect on rice plants done at District Vehari, Pakistan. The trial was performed randomly with three replications in a complete block design (RCBD). These blocks were controlled with different concentrations of genetic factors. By overexpression of micro RNA268 rice, seedling growth was not stopped under Zn deficiency due to the accumulation of a large amount of melanin dialdehyde, hydrogen peroxide, and an excessive quantity of Zn in their seedlings. Results showed that micro RNA268 act as a negative controller under Zn stress. In the end, under stress conditions, micro RNA268 showed the necessary function in the tolerance of rice plants. The directorial work sketch gave out high agronomic applications and yield outcomes in rice with a specific amount of Zn application.

Keywords: micro RNA268, zinc, rice, agronomic approach

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Authors: Alexander Kelisek, Stanislava Strelcova

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Developing of business in small and medium-sized enterprises (SMEs) is a specific especially for its flexibility and rapid adaptation to the conditions of turbulent market environment compared to large enterprises. Therefore, an importance of SMEs is growing rapidly in Slovakia but also in other EU countries. Small and medium enterprises are characterized by transparent organizational structure, as it allows the realization of direct management and information flow without significant negative aspects. In the national economy small and medium-sized enterprises represent a significant potential when performs a several important functions (e.g. social, economic, export-import, etc.) The significance of these enterprises is not only at national, but also at transnational level. Importance of SMEs is also aware of the EU, which declared this statement in a key document for SMEs called Small Business Act. In this document, SMEs are characterized, as the backbone of the EU economy and also as a key source of jobs opportunities. In addition to these aspects, SMEs attaches high innovation and development potential. The authors of the article are dealing with the current status of SMEs development in the Slovak Republic and highlight the current challenges that entrepreneurs face in their small and medium enterprises.

Keywords: small and medium enterprises (SMEs), business support, SMEs development, SMEs funding

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Authors: Mohamed dammak

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Great attention has been paid to the design and synthesis of novel organic-inorganic compounds in recent decades because of their structural variety and the large diversity of atomic arrangements. In this work, the structure for the novel dimethyl aminopyridine tetrachlorocobaltate (C₇H₁₁N₂)₂CoCl₄ prepared by the slow evaporation method at room temperature has been successfully discussed. The X-ray diffraction results indicate that the hybrid material has a triclinic structure with a P space group and features a 0D structure containing isolated distorted [CoCl₄]2- tetrahedra interposed between [C7H11N²⁻]+ cations forming planes perpendicular to the c axis at z = 0 and z = ½. The effect of the synthesis conditions and the reactants used, the interactions between the cationic planes, and the isolated [CoCl4]2- tetrahedra are employing N-H...Cl and C-H…Cl hydrogen bonding contacts. The inspection of the Hirshfeld surface analysis helps to discuss the strength of hydrogen bonds and to quantify the inter-contacts. A phase transition was discovered by thermal analysis at 390 K, and comprehensive dielectric research was reported, showing a good agreement with thermal data. Impedance spectroscopy measurements were used to study the electrical and dielectric characteristics over a wide range of frequencies and temperatures, 40 Hz–10 MHz and 313–483 K, respectively. The Nyquist plot (Z" versus Z') from the complex impedance spectrum revealed semicircular arcs described by a Cole-Cole model. An electrical circuit consisting of a link of grain and grain boundary elements is employed. The real and imaginary parts of dielectric permittivity, as well as tg(δ) of (C₇H₁₁N₂)₂CoCl₄ at different frequencies, reveal a distribution of relaxation times. The presence of grain and grain boundaries is confirmed by the modulus investigations. Electric and dielectric analyses highlight the good protonic conduction of this material.

Keywords: organic-inorganic, phase transitions, complex impedance, protonic conduction, dielectric analysis

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Authors: Tuji Jemal Ahmed

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Fresh produce is an essential component of a healthy diet. However, it can also be a potential source of pathogenic microorganisms that can cause foodborne illnesses. Traditional disinfection methods, such as washing with water and chlorine, have limitations and may not effectively remove or inactivate all microorganisms. This has led to the development of alternative/new methods of fresh produce disinfection, including physical and chemical methods. In this paper, we explore the physical and chemical new methods of fresh produce disinfection, their advantages and disadvantages, and their suitability for different types of produce. Physical methods of disinfection, such as ultraviolet (UV) radiation and high-pressure processing (HPP), are crucial in ensuring the microbiological safety of fresh produce. UV radiation uses short-wavelength UV-C light to damage the DNA and RNA of microorganisms, and HPP applies high levels of pressure to fresh produce to reduce the microbial load. These physical methods are highly effective in killing a wide range of microorganisms, including bacteria, viruses, and fungi. However, they may not penetrate deep enough into the product to kill all microorganisms and can alter the sensory characteristics of the product. Chemical methods of disinfection, such as acidic electrolyzed water (AEW), ozone, and peroxyacetic acid (PAA), are also important in ensuring the microbiological safety of fresh produce. AEW uses a low concentration of hypochlorous acid and a high concentration of hydrogen ions to inactivate microorganisms, ozone uses ozone gas to damage the cell membranes and DNA of microorganisms, and PAA uses a combination of hydrogen peroxide and acetic acid to inactivate microorganisms. These chemical methods are highly effective in killing a wide range of microorganisms, but they may cause discoloration or changes in the texture and flavor of some products and may require specialized equipment and trained personnel to produce and apply. In conclusion, the selection of the most suitable method of fresh produce disinfection should take into consideration the type of product, the level of microbial contamination, the effectiveness of the method in reducing the microbial load, and any potential negative impacts on the sensory characteristics, nutritional composition, and safety of the produce.

Keywords: fresh produce, pathogenic microorganisms, foodborne illnesses, disinfection methods

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Authors: Finbarr Murphy, Wei Xu, Xian Xu

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The embedding of digital technologies in the global economy has attracted increasing attention from economists. With a large and detailed dataset, this study examines the specific case where consumers have a choice between offline and digital channels in the context of insurance purchases. We find that digital channels screen consumers with lower unobserved risk. For the term life, endowment, and disease insurance products, the average risk of the policies purchased through digital channels was 75%, 21%, and 31%, respectively, lower than those purchased offline. As a consequence, the lower unobserved risk leads to weaker information asymmetry and higher profitability of digital channels. We highlight three mechanisms of the risk screening effect: heterogeneous marginal influence of channel features on insurance demand, the channel features directly related to risk control, and the link between the digital divide and risk. We also find that the risk screening effect mainly comes from the extensive margin, i.e., from new consumers. This paper contributes to three connected areas in the insurance context: the heterogeneous economic impacts of digital technology adoption, insurer-side risk selection, and insurance marketing.

Keywords: digital economy, information asymmetry, insurance, mobile application, risk screening

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Authors: Arash Khosravi, Mohamad Nazir Ahmad

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Today’s economy is a knowledge-based economy in which knowledge is a crucial facilitator to individuals, as well as being an instigator of success. Due to the impact of globalization, universities face new challenges and opportunities. Accordingly, they ought to be more innovative and have their own competitive advantages. One of the most important goals of universities is the promotion of students as professional knowledge workers. Therefore, knowledge sharing and transferring at tertiary level between students and supervisors is vital in universities, as it decreases the budget and provides an affordable way of doing research. Knowledge-sharing impact factors can be categorized into three groups, namely: organizational, individual and technical factors. There are some individual barriers to knowledge sharing, namely: lack of time and trust, lack of communication skills and social networks. IT systems such as e-learning, blogs and portals can increase knowledge sharing capability. However, it must be stated that IT systems are only tools and not solutions. Individuals are still responsible for sharing information and knowledge. This paper proposes new research model to examine the effect of individual factors and organisational factors, namely: learning strategy, trust culture, supervisory support, as well as technological factor on knowledge sharing in a research supervision process at the University of Technology Malaysia.

Keywords: knowledge management, knowledge sharing, research supervision, knowledge transferring

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Authors: Muhammad Afzal, Muhammad Sajjad

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Climate change has become a global environmental challenge and it has affected the world’s economy. Its impact is widespread across all major sectors of the economy i.e. agriculture, industry, and services sectors. This study attempts to measure the long run as well as the short-run dynamic between energy; environment and economic growth by using Autoregressive Distributed Lag (ARDL) bound testing approach at aggregate as well as sectoral level. We measured the causal relationship between electricity consumption, fuel consumption, CO₂ emission, and real Gross Domestic Product (GDP) for the period of 1980 to 2016 for Pakistan. Our co-integration results reveal that all the variables are co-integrated at aggregate as well as at sectoral level. Electricity consumption shows two-way casual relation at for industry, services and aggregate level. The inverted U-Curve hypothesis tested the relationship between greenhouse gas emissions and per capita GDP and results supported the Environment Kuznet Curve (EKC) hypothesis. This study cannot ignore the importance of energy for economic growth but prefers to focus on renewable and green energy to pave on the trajectory of development.

Keywords: climate change, economic growth, energy, environment

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Authors: Malek Ali

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Composites materials of Poly (vinyl alcohol) (PVA)/Chitosan (CS) have been synthesized and characterized successfully. HNTs have been added to composites to enhance the mechanical and degradation properties by hydrogen bonding interactions, compatibility, and chemical crosslink between HNTs and PVA. PVA/CS/HNTs composites prepared with different concentration ratio. SEM micrographs of composites surface showed that more agglomeration with more chitosan ratio. Mechanical and degradation properties were characterized and the result indicates that Mechanical and degradation of 80%PVA/5%Chitosan/15%HNTs higher than the others PVA/CS/HNTs composites.

Keywords: PVA/chitosan, composites, PVA/CS/HNTs, HNTs

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Authors: Emin Avcı, Çiydem Çatak

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The recent economic crisis have shown that procyclicality, which could threaten the stability and growth of the economy, is a major problem of financial and real sector. The term procyclicality refers here the cyclical behavior of banks that lead them to follow the same patterns as the real economy. In this study, leverage which demonstrate how a bank manage its debt, is chosen as bank specific variable to see the effect of changes in it over the economic cycle. The procyclical behavior of Turkish banking sector (commercial, participation, development-investment banks) is tried to explain with analyzing the relationship between leverage and asset growth. On the basis of theoretical explanations, eight different leverage ratios are utilized in eight different panel data models to demonstrate the procyclicality effect of Turkish banks leverage using monthly data covering the 2005-2014 period. It is tested whether there is an increasing (decreasing) trend in the leverage ratio of Turkish banks when there is an enlargement (contraction) in their balance sheet. The major finding of the study indicates that asset growth has a significant effect on all eight leverage ratios. In other words, the leverage of Turkish banks follow a cyclical pattern, which is in line with those of earlier literature.

Keywords: banking, economic cycles, leverage, procyclicality

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Authors: Farhad Reyazat, Richard Werner

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This paper contributes to the existent literature by developing a framework that explains how to monitor potential threats to banking sector stability. The study explores structural vulnerabilities at the country level, but also look at bilateral exposures within a network context. The study contributes in analysing of the European banking systemic risk at aggregated level, which integrates the characteristics of bank size, and interconnectedness relative to the size of the economy which ultimate risk belong to, taking to account the concentration ratio of the banking industry within the whole economy. The nature of the systemic risk depends on the interplay of the network topology with the nature of financial transactions over the network, assets and buffer stemming from bank size, correlations, and the nature of the shocks to the financial system. The study’s results illustrate the contribution of banks’ size, size of economy and concentration of counterparty exposures to a given country’s banks in explaining its systemic importance, how much the banking network depends on a few traditional hubs activities and the changes of this dependencies over the last 9 years. The role of few of traditional hubs such as Swiss banks and British Banks and also Irish banks- where the financial sector is fairly new and grew strongly between 1990s till 2008- take the fourth position on 2014 reducing the relative size since 2006 where they had the first position. In-degree concentration index analysis in the study shows concentration index of banking network was not changed since financial crisis 2007-8. In-degree concentration index on first quarter of 2014 indicates that US, UK and Germany together, getting over 70% of the network exposures. The result of comparing the in-degree concentration index with 2007-4Q, shows the same group having over 70% of the network exposure, however the UK getting more important role in the hub and the market share of US and Germany are slightly diminished.

Keywords: systemic risk, counterparty risk, financial stability, interconnectedness, banking concentration, european banks risk, network effect on systemic risk, concentration risk

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Authors: Ichiro Takahashi

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One conundrum that macroeconomic theory faces is to explain how an economy can revive from depression, in which the aggregate demand has fallen substantially below its productive capacity. This paper examines an autonomous stabilizing mechanism using an agent-based Wicksell-Keynes macroeconomic model. This paper focuses on the effects of the number of firms and the length of the gestation period for investment that are often assumed to be one in a mainstream macroeconomic model. The simulations found the virtual economy was highly unstable, or more precisely, collapsing when these parameters are fixed at one. This finding may even suggest us to question the legitimacy of these common assumptions. A perpetual decline in capital stock will eventually encourage investment if the capital stock is short-lived because an inactive investment will result in insufficient productive capacity. However, for an economy characterized by a roundabout production method, a gradual decline in productive capacity may not be able to fall below the aggregate demand that is also shrinking. Naturally, one would then ask if our economy cannot rely on an external stimulus such as population growth and technological progress to revive investment, what factors would provide such a buoyancy for stimulating investments? The current paper attempts to answer this question by employing the artificial macroeconomic model mentioned above. The baseline model has the following three features: (1) the multi-period gestation for investment, (2) a large number of heterogeneous firms, (3) demand-constrained firms. The instability is a consequence of the following dynamic interactions. (a) A multiple-period gestation period means that once a firm starts a new investment, it continues to invest over some subsequent periods. During these gestation periods, the excess demand created by the investing firm will spill over to ignite new investment of other firms that are supplying investment goods: the presence of multi-period gestation for investment provides a field for investment interactions. Conversely, the excess demand for investment goods tends to fade away before it develops into a full-fledged boom if the gestation period of investment is short. (b) A strong demand in the goods market tends to raise the price level, thereby lowering real wages. This reduction of real wages creates two opposing effects on the aggregate demand through the following two channels: (1) a reduction in the real labor income, and (2) an increase in the labor demand due to the principle of equality between the marginal labor productivity and real wage (referred as the Walrasian labor demand). If there is only a single firm, a lower real wage will increase its Walrasian labor demand, thereby an actual labor demand tends to be determined by the derived labor demand. Thus, the second positive effect would not work effectively. In contrast, for an economy with a large number of firms, Walrasian firms will increase employment. This interaction among heterogeneous firms is a key for stability. A single firm cannot expect the benefit of such an increased aggregate demand from other firms.

Keywords: agent-based macroeconomic model, business cycle, demand constraint, gestation period, representative agent model, stability

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Authors: Ritu Ahuja

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Globally the built environment sector is striving to be highly efficient, quality-centred and socially-responsible. Built environment sector is an integral part of the economy and plays an important role in urbanization, industrialization and improved quality of living. The inherent challenges such as excessive material and process waste, over reliance on resources, energy usage, and carbon footprint need to be addressed in order to meet the needs of the economy. It is envisioned that these challenges can be resolved by integration of Lean-Green-Building Information Modelling (BIM) paradigms. Ipso facto, with BIM as a catalyst, this research identifies the operational and tactical connections of lean and green philosophies by providing a conceptual integration framework and underpinning theories. The research has developed a framework for BIM-based organizational capabilities for enhanced adoption and effective use of BIM within architectural organizations. The study was conducted through a sequential mixed method approach focusing on collecting and analyzing both qualitative and quantitative data. The framework developed as part of this study will enable architectural organizations to successfully embrace BIM on projects and gain lean and green benefits.

Keywords: BIM, lean, green, AEC organizations

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Authors: Fawaz Saad, Hamid Alalwany

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Sweden has succeeded to maintain a high level of growth and development and has managed to sustain highly ranked position among the world’s developed countries. In this regard, Swedish universities are playing a vital role in supporting innovation and entrepreneurship at all levels and developing Swedish knowledge economy. This paper is aiming to draw on the experiences of two leading Swedish universities, addressing their transformation approach to create entrepreneurial universities and fulfilling their objectives in the era of knowledge economy. The objectives of the paper include: (1) Introducing the Swedish higher education and its characteristics. (2) Examining the infrastructure elements for innovation and Entrepreneurship at two of the Swedish entrepre-neurial universities. (3) Addressing the key aspects of support systems in the initiatives of both Chalmers and Gothenburg universities to support innovation and advance entrepreneurial practices. The paper will contribute to two discourses: (1) Examining the relationship between support systems for innovation and entrepreneurship and the Universities’ policies and practices. (2) Lessons for University leaders to assist the development and implementation of effective innovation and en-trepreneurship policies and practices.

Keywords: Entrepreneurial University, Chalmers University, Gothenburg University, innovation and entrepreneurship policies, entrepreneurial transformation

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Authors: Noemia Bessa Vilela, Jose Caramelo Gomes

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All law student are familiarized, in the first years of their bachelor of laws with the concepts of “public goods” and “ private goods”; often, such legal concept does not exactly match such economic concept, and there are consequences are some sort of confusion being created. The list of goods that follow under each category is not exhaustive, nor are students given proper mechanisms to acknowledge that some legal fields can, on its own, be considered as a “public good”; this is the case of Competition. Legal authors consider that “competition law is used to promote public interest” and, as such, it is a “public good”; in economics theory, Competition is the first public good in a market economy, as the enabler of allocation efficiency. Competition law is the legal tool to support the proper functioning of the market economy and democracy itself. It is fact that Competition Law only applies to economic activities, still, competition is object of private litigation as an integral part of Public Law. Still, regardless of the importance of Competition Law in the economic activity and market regulation, most student complete their studies in law, join the Bar Associations and engage in their professional activities never having been given sufficient tools to deal with the increasing demands of a globalized world. The lack of knowledge of economics, market functioning and the mechanisms at their reach in order to ensure proper realization of their duties as lawyers/ attorneys-at-law would be tackled if Competition Law would be included as part of the curricula of Law Schools. Proper teaching of Competition Law would combine the foundations of Competition Law, doctrine, case solving and Case Law study. Students should to understand and apply the analytical model. Special emphasis should be given to EU Competition Law, namely the TFEU Articles 101 to 106. Damages Directive should also be part of the curriculum. Students must in the first place acquire and master the economic rationale as competition and the world of competition law are the cornerstone of sound and efficient market. The teaching of Competition Law in undergraduate programs in Law would contribute to fulfill the potential of the students who will deal with matters related to consumer protection, economic and commercial law issues both in private practice and as in-house lawyers for companies.

Keywords: higher education, competition law, legal education, law, market economy, industrial economics

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Authors: Mustapha Shitu Suleiman, Francis Neshamba, Nestor Valero-Silva

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Small businesses are considered as engine of economic growth, contributing to employment generation, wealth creation, and poverty alleviation and food security in both developed and developing countries. Nigeria is facing many socio-economic problems and it is believed that by supporting small business development, as propellers of new ideas and more effective users of resources, often driven by individual creativity and innovation, Nigeria would be able to address some of its economic and social challenges, such as unemployment and economic diversification. Using secondary literature, this paper examines the role small businesses can play in the creation of jobs in North-West Nigeria to overcome issues of unemployment, which is the most devastating economic challenge facing the region. Most studies in this area have focused on Nigeria as a whole and only a few studies provide a regional focus, hence, this study will contribute to knowledge by filling this gap by concentrating on North-West Nigeria. It is hoped that with the present administration’s determination to improve the economy, small businesses would be used as vehicles for diversification of the economy away from crude oil to create jobs that would lead to a reduction in the country’s high unemployment level.

Keywords: job creation, north-west, Nigeria, small business, unemployment

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Authors: Amina Oukennou, Zitouni Beidouri, Otmane Bouksour

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Small to Medium-sized enterprises are a very important component of the economy. They are present in the whole industries all over the world. They are considered as the engine for future growth in the economy. Project management is an economical international factor impacting all types of enterprises including the SMEs. This paper has the aim of measuring the weight of using projects and project management in Moroccan SMEs in comparison with the large companies. The study is based on interviews with experts: project managers, managers, directors, and consultants. They were asked questions measuring the weight of using projects, the level of using project management, and the resources employed. Eighteen Moroccan companies from a range of industries and sizes were consulted. All the companies consider projects as a key element in their strategy. Most of them affirm the great usefulness of the approach 'project', especially for the external activities. The main differences lie in the duration and the size of used projects. Despite the commonly shared idea about the importance of the project management, the interviewed persons believe that the project management knowledge has the same importance or less than the technical knowledge. All the companies affirm the need for a simpler version of project management. The content varies from one company to another.

Keywords: project dimension, project management, small to medium-sized entreprise, Morocco

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Authors: Dishant Shahi, Aradhya Shandilya, Nand Kumar

Abstract:

We study here the impact of the black component referred to as X component in the text on Real estate transactions. The X component involved not only acts as friction in transaction but also leads to dysfunctionality in the capital market of real estate. The effect of the component is presented by using a model of economy which seeks resemblance with that of India involving property deals. The rigidities which hinder smooth transactions in property or land deals are depicted and their impact on the economy as a whole has been modelled. The effect of subprime crisis (2007) on Indian housing capital market and the role which the X component played during it, is also included in one of the sections. In the entire text, we have utilised 4 Quadrant graphs to study supply and demand causalities involved in commercial real estate. At the end we have included the impact of demonetisation as a move to counter the problem of overvaluation in the property assets arising due to the X component. The case of Demonetisation which has been the latest move by the Indian Government to control huge amount of black money in circulation has been included along with its impact on the housing and rent as well as the capital market.

Keywords: X-component, 4Q graph, real estate, capital markets, demonetisation, consumer sentiments

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Authors: Gulmira Umarova

Abstract:

The data on the assessment of the influence of environmental risk to the health of the population of Uralsk in the West region of Kazakhstan were presented. Calculation of non-carcinogenic risks was performed for such air pollutants as sulfur dioxide, nitrogen oxides, hydrogen sulfide, carbon monoxide. Here with the critical organs and systems, which are affected by the above-mentioned substances were taken into account. As well as indicators of primary and general morbidity by classes of diseases among the population were considered. The quantitative risk of the influence of substances on organs and systems is established by results of the calculation.

Keywords: environment, health, morbidity, non-carcinogenic risk

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Authors: Adebayo J. Julius, Oluremi N. Iluyomade

Abstract:

Livelihood in Nigeria is a paradox of poverty amidst plenty. The Country is endowed with a good climate for agriculture, naturally growing fruit trees and vegetables, and undomesticated water resources. In spite of all its endowment, Nigeria continues to live in poverty year in year out. Rural communities adopted for this study are Ido, Omi-Adio, Onigambari, Okija and Lambata, 500 questionnaires were administered to solicit information from the respondents. This study focused on comparative analysis of the utilization of community informatics for sustainable livelihoods through agriculture. The idea projected in this study is that small strategic changes in the modus operandi of social informatics can have a significant impact on the sustainability of livelihoods. This paper carefully explored the theories of community informatics and its efficacies in dealing with sustainability issues. This study identified, described and evaluates the roles of community informatics in some sectors of the economy, different analytical tools to benchmark the influence of social informatics in agriculture against what is obtainable in agricultural sectors of the economy were used. It further employed comparative analysis to build a case model for sustainable livelihood in agriculture through community informatics.

Keywords: informatics, model, rural community, livelihood, Nigeria

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Authors: Daniel Stabler, Anne-Laure Mention, Henri Hakala, Ahmad Alaassar

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In Europe, 2.2 billion tons of waste annually generate severe environmental damage and economic burdens, and negatively impact human health. A stark illustration of the problem is found within the consumer electronics industry, which reflects one of the most complex global waste streams. Of the 5.3 billion globally discarded mobile phones in 2022, only 17% were properly recycled. To address these pressing issues, Europe has made significant strides in developing waste management strategies, Circular Economy initiatives, and Right to Repair policies. These endeavors aim to make product repair and maintenance more accessible, extend product lifespans, reduce waste, and promote sustainable resource use. European countries have introduced Right to Repair policies, often in conjunction with extended producer responsibility legislation, repair subsidies, and consumer repair indices, to varying degrees of regulatory rigor. Changing societal trends emphasizing sustainability and environmental responsibility have driven consumer demand for more sustainable and repairable products, benefiting repair-focused consumer electronics businesses. In academic research, much of the literature in Management studies has examined the European Circular Economy and the Right to Repair from firm-level perspectives. These studies frequently employ a business-model lens, emphasizing innovation and strategy frameworks. However, this study takes an institutional perspective, aiming to understand the adoption of Circular Economy and repair-focused business models within the European consumer electronics market. The concepts of the Circular Economy and the Right to Repair align with institutionalism as they reflect evolving societal norms favoring sustainability and consumer empowerment. Regulatory institutions play a pivotal role in shaping and enforcing these concepts through legislation, influencing the behavior of businesses and individuals. Compliance and enforcement mechanisms are essential for their success, compelling actors to adopt sustainable practices and consider product life extension. Over time, these mechanisms create a path for more sustainable choices, underscoring the influence of institutions and societal values on behavior and decision-making. Institutionalism, particularly 'neo-institutionalism,' provides valuable insights into the factors driving the adoption of Circular and repair-focused business models. Neo-institutional pressures can manifest through coercive regulatory initiatives or normative standards shaped by socio-cultural trends. The Right to Repair movement has emerged as a prominent and influential idea within academic discourse and sustainable development initiatives. Therefore, understanding how macro-level societal shifts toward the Circular Economy and the Right to Repair trigger firm-level responses is imperative. This study aims to answer a crucial question about the impact of European Right to Repair initiatives had on the financial and environmental performance of European consumer electronics companies at the firm level. A quantitative and statistical research design will be employed. The study will encompass an extensive sample of consumer electronics firms in Northern and Western Europe, analyzing their financial and environmental performance in relation to the implementation of Right to Repair mechanisms. The study's findings are expected to provide valuable insights into the broader implications of the Right to Repair and Circular Economy initiatives on the European consumer electronics industry.

Keywords: circular economy, right to repair, institutionalism, environmental management, european union

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Authors: Lasha Kamashidze

Abstract:

COVID19 has already become one of the biggest challenges in the modern world. The virus has also had a significant impact on the world economy, which has faced a major crisis. Each crisis and challenge creates new opportunities. Changes in the world have allowed us to see business in a new light. The aim of the article is to explore new opportunities in the business that have arisen as a result of the Corona virus. Now, organizations with a service profile are working to meet the rapidly changing needs of their staff and customers. Due to the situation created by the pandemic, it became necessary to make some changes in people's daily lives. It became necessary to adapt to the new reality. The changes caused by Coronavirus require in-depth research and analysis in the world economy, as the current situation is not ruled out to be repeated in the future. Many companies have resorted to remote work methods, which require organizational changes. The form of remote work is not new to the Georgian reality. In Georgia, as well as in the rest of the world, the business sector has undergone changes. It will be beneficial for many Georgian companies to make organizational changes that will allow them to work remotely. The current situation has shown the managers of both Georgian and other companies to have "weak points" in organizing modern business. A survey was conducted (online survey), as a result of which it received important information about the problems of remote work in Georgia.

Keywords: organizational change, coronomics, remote work, management

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