Search results for: economic ranking

Authors: Aleksandar Savanović

Abstract:

In this paper we will analyze the relationship between the neo-liberal concept of property rights and redistribution policy. This issue is back in the focus of interest due to the crisis 2008. The crisis has reaffirmed the influence of the state on the free-market processes. The interference of the state with property relations re-opened a classical question: is it legitimate to redistribute resources of a man in favor of another man with taxes? The dominant view is that the neoliberal philosophy of natural rights is incompatible with redistributive measures. In principle, this view can be accepted. However, when we look into the details of the theory of natural rights proposed by some coryphaei of neoliberal philosophy, such as Hayek, Nozick, Buchanan and Rothbard, we can see that it is not such an unequivocal view.

Keywords: economic neoliberalism, natural law, property, redistribution

Procedia PDF Downloads 372

Authors: Emin Avcı, Çiydem Çatak

Abstract:

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

Procedia PDF Downloads 262

Authors: Julio Silva, Lia Hasenclever, Gilson G. Silva Jr.

Abstract:

The aim of this paper is to check possible convergence in health measures (aged-standard rate of morbidity and mortality) for communicable diseases between developed and developing countries, conditional to productive structures features. Understanding the interrelations between health patterns and economic development is particularly important in the context of low- and middle-income countries, where economic development comes along with deep social inequality. Developing countries with less diversified productive structures (measured through complexity index) but high heterogeneous inter-sectorial labor productivity (using as a proxy inter-sectorial coefficient of variation of labor productivity) has on average low health levels in communicable diseases compared to developed countries with high diversified productive structures and low labor market heterogeneity. Structural heterogeneity and productive diversification may have influence on health levels even considering per capita income. We set up a panel data for 139 countries from 1995 to 2015, joining several data about the countries, as economic development, health, and health system coverage, environmental and socioeconomic aspects. This information was obtained from World Bank, International Labour Organization, Atlas of Economic Complexity, United Nation (Development Report) and Institute for Health Metrics and Evaluation Database. Econometric panel models evidence shows that the level of communicable diseases has a positive relationship with structural heterogeneity, even considering other factors as per capita income. On the other hand, the recent process of convergence in terms of communicable diseases have been motivated for other reasons not directly related to productive structure, as health system coverage and environmental aspects. These evidences suggest a joint dynamics between the unequal distribution of communicable diseases and countries' productive structure aspects. These set of evidence are quite important to public policy as meet the health aims in Millennium Development Goals. It also highlights the importance of the process of structural change as fundamental to shift the levels of health in terms of communicable diseases and can contribute to the debate between the relation of economic development and health patterns changes.

Keywords: economic development, inequality, population health, structural change

Procedia PDF Downloads 134

Authors: Noemia Bessa Vilela, Jose Caramelo Gomes

Abstract:

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

Procedia PDF Downloads 136

Authors: Bavornluck Kuosuwan

Abstract:

The purpose of this research was to study the level of readiness of English communication skills for travel agents in the Silom road area of Bangkok in order to enter the ASEAN economic community in the year 2015. The multi-stage sampling method was utilized with 474 respondents from 79 travel agencies. An English Questionnaire was used to collect the data. Descriptive statistics included percentage, average, standard deviation and Pearson’s r coefficient. The findings revealed that the majority of respondents were not well prepared in terms of ASEAN knowledge including laws and regulations. The majority of respondents had not been well informed about the changes that will come with the coming of ASEAN economic community. Moreover, the level of English communication for most travel agents was between the poor and intermediate level and therefore improvement is needed, especially the speaking and listening skill. In other words, the majority of respondents needed more training in terms of communications skills. The correlation between the working environment and attitude of the staff was very positive. Moreover, the correlation between the background of staff and attitude of staff was also very positive and most of demographic factors had a positive correlation with attitude of staff, except gender.

Keywords: ASEAN, communication skills, travel agents, media engineering

Procedia PDF Downloads 248

Authors: Wan Nur'ashiqin Wan Mohamad, Zarina Othman, Mohd Azman Abas, Azizah Ya'acob, Rozmel Abdul Latiff

Abstract:

Effective doctor-patient interaction is vital to both doctor and patient relationship. It is the cornerstone of good practice and an integral quality of a healthcare institution. This paper presented the hierarchy of the communication elements in doctor-patient interaction during medical consultations in a medical centre in Malaysia. This study adapted The Picker Patient Experience Questionnaire (2002) to obtain the information from patients. The questionnaire survey was responded by 100 patients between the ages of 20 and 50. Data collected were analysed using Rasch Measurement Model to yield the hierarchy of the communication elements in doctor-patient interaction. The findings showed that the three highest ranking on the doctor-patient interaction were doctor’s treatment, important information delivery and patient satisfaction of doctor’s responses. The results are valuable in developing the framework for communication ethics of doctors.

Keywords: communication elements, doctor-patient interaction, hierarchy, Rasch measurement model

Procedia PDF Downloads 159

Authors: Guoqin Ge, Minhui Huang, Yazhou Zhou

Abstract:

The growth of the Chengdu-Chongqing urban agglomeration has been designated as a national strategy in China. Analyzing its spatial evolution characteristics is crucial for devising relevant development strategies. This paper enhances the gravitational model by using temporal distance as a factor. It applies this improved model to assess the economic interconnection and concentration level of each geographical unit within the Chengdu-Chongqing urban agglomeration between 2011 and 2019. On this basis, this paper examines the spatial correlation characteristics of economic agglomeration intensity and urban-rural development equalization by employing spatial autocorrelation analysis. The study findings indicate that the spatial integration in the Chengdu-Chongqing urban agglomeration is currently in the "point-axis" development stage. The spatial organization structure is becoming more flattened, and there is a stronger economic connection between the core of the urban agglomeration and the peripheral areas. The integration of the Chengdu-Chongqing urban agglomeration is currently hindered by conflicting interests and institutional heterogeneity between Chengdu and Chongqing. Additionally, the connections between the relatively secondary spatial units are largely loose and weak. The strength and scale of economic ties and the level of urban-rural equilibrium among spatial units within the Chengdu-Chongqing urban agglomeration have increased, but regional imbalances have continued to widen, and such positive and negative changes have been characterized by the spatial and temporal synergistic evolution of the "core-periphery". Ultimately, this paper presents planning ideas for the future integration development of the Chengdu-Chongqing urban agglomeration, drawing from the findings.

Keywords: integration, planning strategy, space organization, space evolution, urban agglomeration

Procedia PDF Downloads 46

Authors: Tharsinithevy Kirupananthan

Abstract:

This study analyzed the decision on growing three different crops which suit dry zone of Sri Lanka using the opportunity cost concept in economics. The variable cost of production of sugar cane, sweet orange, and soybean was 112,418.76, 13,463 and 10,928.08 Sri Lankan Rs. (LKR) per acre in the dry zone of Sri Lanka. The yield of the sugar cane, sweet orange, and soybean were 49.33 tons, 25,595 fruits, and 1032 kg per acre. The market price of the sugar cane, sweet orange, and soybean were 4200 LKR/ton, LKR 14.66 per fruit and LKR 89.69 per kg. The market value or the total income of the sugar cane, sweet orange, and soybean were LKR 207194.4, 283090.74, and 92560.08. The accounting profit of the sugar cane, sweet orange, and soybean was 94,775.64, 269,627.74, and 81,632 LKR per acre. Therefore, the opportunity cost of sugarcane per acre in terms of accounting profit was LKR. 269,627.74 from sweet orange and LKR 81,632 from soybean. The highest opportunity cost per acre in terms of accounting profit was found when soybean is produced instead of sweet orange. The opportunity cost which compared among the crops in terms of market value for sugar cane per acre was LKR 283090.74 of sweet orange and LKR 92560.08 of soybean. The highest opportunity cost both in terms of accounting profit and market value was found when growing soybean instead of sweet orange by using the resource per acre of land. The economic profit of sugar cane production in place of sweet orange was LKR -188315.1 per acre. The highest economic profit LKR 177067.66 was found when sweet orange is produced in place of soybean. A positive value of economic profit was found in all combination of sweet orange production without considering the first harvest duration of the crop.

Keywords: agricultural economics, crop, opportunity cost, Sri Lanka

Procedia PDF Downloads 338

Authors: F. Fatoye, C. E. Mbada, T. Gebrye, A. O. Ogunsola, C. Fatoye, O. Oyewole

Abstract:

Musculoskeletal disorders (MSDs) such as low back pain (LBP), cervical spondylosis (CSPD), sprain, osteoarthritis (OA), and post immobilization stiffness (PIS) have a major impact on individuals, health systems and society in terms of morbidity, long-term disability, and economics. This study estimated the direct and indirect costs of common MSDs in Osun State, Nigeria. A review of medical charts for adult patients attending Physiotherapy Outpatient Clinic at the Obafemi Awolowo University Teaching Hospitals Complex, Osun State, Nigeria between 2009 and 2018 was carried out. The occupational class of the patients was determined using the International Labour Classification (ILO). The direct and indirect costs were estimated using a cost-of-illness approach. Physiotherapy related health resource use, and costs of the common MSDs, including consultation fee, total fee charge per session, costs of consumables were estimated. Data were summarised using descriptive statistics mean and standard deviation (SD). Overall, 1582 (Male = 47.5%, Female = 52.5%) patients with MSDs population with a mean age of 47.8 ± 25.7 years participated in this study. The mean (SD) direct costs estimate for LBP, CSPD, PIS, sprain, OA, and other conditions were $18.35 ($17.33), $34.76 ($17.33), $32.13 ($28.37), $35.14 ($44.16), $37.19 ($41.68), and $15.74 ($13.96), respectively. The mean (SD) indirect costs estimate of LBP, CSPD, PIS, sprain, OA, and other MSD conditions were $73.42 ($43.54), $140.57 ($69.31), $128.52 ($113.46), sprain $140.57 ($69.31), $148.77 ($166.71), and $62.98 ($55.84), respectively. Musculoskeletal disorders contribute a substantial economic burden to individuals with the condition and society. The unacceptable economic loss of MSDs should be reduced using appropriate strategies. Further research is required to determine the clinical and cost effectiveness of strategies to improve health outcomes of patients with MSDs. The findings of the present study may assist health policy and decision makers to understand the economic burden of MSDs and facilitate efficient allocation of healthcare resources to alleviate the burden associated with these conditions in Nigeria.

Keywords: economic burden, low back pain, musculoskeletal disorders, real-world

Procedia PDF Downloads 215

Authors: Svetlana Gudkova

Abstract:

The Internet of Things experiences a rapid growth bringing inevitable changes into many spheres of human activities. As the Internet has changed the social and business landscape, IoT as its extension, can bring much more profound changes in economic value creation and competitiveness of the economies. It has been already recognized as the next industrial revolution. However, the development of IoT is in a great extent stimulated by the entrepreneurial activity. To expand and reach its full potential it requires proactive entrepreneurs, who explore the potential and create innovative ideas pushing the boundaries of IoT technologies' application further. The goal of the research is to analyze, how entrepreneurs utilize the opportunities created by IoT and how do they stimulate the development of IoT through discovering of new ways of generating economic value and creating opportunities, which attract other entrepreneurs. The qualitative research methods have been applied to prepare the case studies. Entrepreneurs are recognized as an engine of economic growth. They introduce innovative products and services into the market through the creation of a new combination of the existing resources and utilizing new knowledge. Entrepreneurs not only create economic value but what is more important, they challenge the existing business models and invent new ways of value creation. Through identification and exploitation of entrepreneurial opportunities, they create new opportunities for other entrepreneurs. It makes the industry more attractive to other profit/innovation-driven start-ups. IoT creates numerous opportunities for entrepreneurs in the different industries. Smart cities, healthcare, manufacturing, retail, agriculture, smart vehicles and smart buildings benefit a lot from IoT-based breakthrough innovations introduced by entrepreneurs. They reinvented successfully the business models and created new entrepreneurial opportunities for other start-ups to introduce next innovations.

Keywords: entrepreneurship, internet of things, breakthrough innovations, start-ups

Procedia PDF Downloads 197

Authors: Inese Trusina, Elita Jermolajeva, Viktors Gopejenko, Viktor Abramov

Abstract:

Global challenges require a transition from the existing linear economic model to a model that will consider nature as a life support system for the development of the way to social well-being in the frame of the ecological economics paradigm. The objective of the article is to present the results of the analysis of socio-economic systems in the context of sustainable development using the systems power (energy flows) changes analyzing method and structural Kaldor's model of GDP. In accordance with the principles of life's development and the ecological concept was formalized the tasks of sustainable development of the open, non-equilibrium, stable socio-economic systems were formalized using the energy flows analysis method. The methodology of monitoring sustainable development and level of life were considered during the research of interactions in the system ‘human - society - nature’ and using the theory of a unified system of space-time measurements. Based on the results of the analysis, the time series consumption energy and economic structural model were formulated for the level, degree and tendencies of sustainable development of the system and formalized the conditions of growth, degrowth and stationarity. In order to design the future state of socio-economic systems, a concept was formulated, and the first models of energy flows in systems were created using the tools of system dynamics. During the research, the authors calculated and used a system of universal indicators of sustainable development in the invariant coordinate system in energy units. In order to design the future state of socio-economic systems, a concept was formulated, and the first models of energy flows in systems were created using the tools of system dynamics. In the context of the proposed approach and methods, universal sustainable development indicators were calculated as models of development for the USA and China. The calculations used data from the World Bank database for the period from 1960 to 2019. Main results: 1) In accordance with the proposed approach, the heterogeneous energy resources of countries were reduced to universal power units, summarized and expressed as a unified number. 2) The values of universal indicators of the life’s level were obtained and compared with generally accepted similar indicators.3) The system of indicators in accordance with the requirements of sustainable development can be considered as a basis for monitoring development trends. This work can make a significant contribution to overcoming the difficulties of forming socio-economic policy, which is largely due to the lack of information that allows one to have an idea of the course and trends of socio-economic processes. The existing methods for the monitoring of the change do not fully meet this requirement since indicators have different units of measurement from different areas and, as a rule, are the reaction of socio-economic systems to actions already taken and, moreover, with a time shift. Currently, the inconsistency or inconsistency of measures of heterogeneous social, economic, environmental, and other systems is the reason that social systems are managed in isolation from the general laws of living systems, which can ultimately lead to a systemic crisis.

Keywords: sustainability, system dynamic, power, energy flows, development

Procedia PDF Downloads 50

Authors: Toufic Sarieddine

Abstract:

As the belt and road Initiative (henceforth, BRI) enters its 9th year, Iran and China are forging stronger ties on economic and military fronts, a development which has not only caused alarm in Washington but also risks staining China’s relationships with the oil-rich Gulf monarchies. World-systems theory has been used to examine the impact of the BRI on the current world order, with scholarship split on the capacity of China to emerge as a hegemon contending with the US or even usurping it. This paper argues the emergence of a new China-centered world-system comprised of states/areas and processes participating in the BRI and overlapping with the global world-system under (shaky) US hegemony. This world-system centers around China as core and hegemon via economic domination, capable new institutions (Shanghai Cooperation Council), legal modi operandi, the common goal of infrastructure development to rally support among developing states, and other indicators of hegemony outlined in world-systems theory. In this regard, while states like Pakistan could become peripheries to China in the BRI-bound world-system via large-scale projects such as the China-Pakistan Economic Corridor, Iran has greater capacities and influence in the Middle East, making it superior to a periphery. This paper thus argues that the increasing proximity between Iran and China sees the former becoming a semi-periphery with respect to China within the BRI-bound world-system, having economic dependence on its new core and hegemon while simultaneously wielding political and military influence on weaker states such as Iraq, Lebanon, Yemen, and Syria. The indicators for peripheralization as well as the characteristics of a semi-periphery outlined in world-systems theory are used to examine the current economic, political, and militaristic dimensions of Iran and China’s growing relationship, as well as the trajectory of these dimensions as part of the BRI-bound world-system.

Keywords: belt and road initiative, China, China-Middle East relations, Iran, world-systems analysis

Procedia PDF Downloads 148

Authors: Deyu Zhou, Xiao Xue, Lizhen Cui

Abstract:

With the increasing collaboration among various services and the growing complexity of user demands, there are more and more factors affecting the stable development of the cloud manufacturing service economic system (CMSE). This poses new challenges to the evolution analysis of the CMSE. Many researchers have modeled and analyzed the evolution process of CMSE from the perspectives of individual learning and internal factors influencing the system, but without considering other important characteristics of the system's individuals (such as heterogeneity, bounded rationality, etc.) and the impact of external environmental factors. Therefore, this paper proposes an integrated artificial social model for the cloud manufacturing service economic system, which considers both the characteristics of the system's individuals and the internal and external influencing factors of the system. The model consists of three parts: the Agent model, environment model, and rules model (Agent-Environment-Rules, AER): (1) the Agent model considers important features of the individuals, such as heterogeneity and bounded rationality, based on the adaptive behavior mechanisms of perception, action, and decision-making; (2) the environment model describes the activity space of the individuals (real or virtual environment); (3) the rules model, as the driving force of system evolution, describes the mechanism of the entire system's operation and evolution. Finally, this paper verifies the effectiveness of the AER model through computational and experimental results.

Keywords: cloud manufacturing service economic system (CMSE), AER model, artificial social modeling, integrated framework, computing experiment, agent-based modeling, social networks

Procedia PDF Downloads 73

Authors: Lara F. Horani

Abstract:

Design is one of the most important stages in the process of product development. Product design has experienced significant changes over the years ranging from concentrating on cost and performance to combining economic, environmental and social considerations in customer requirements. Its evolution is in accordance with rapidly changing technology, economic situations, and climate change and environmental issues, as well as social context. Within product design, sustainability is a concept that balances economic, social and environmental aspects. This research aims to express changes in customer requirements over time from the viewpoint of sustainable design. It does so by systematically reviewing a broad scope of sustainable design literature. There is a need for a model to consider the changes that take place in customer requirements over time to build a successful relationship with customers which has been presented. Today’s literature does very little to even mention it, let alone present any progress in it. Systematic literature reviews are conducted primarily to: summarize the existing literature around a subject, highlight commonalities to build consensus, illuminate differences, identify gaps that can be filled, provide a background to position future research, and build a framework that can help designers meet the challenges of sustainable design.

Keywords: sustainable design, customer requirements for sustainable design, systematic literature reviews, changing customer requirements

Procedia PDF Downloads 368

Authors: Anand Choudhary

Abstract:

Following the global economic crisis in 2008, businesses and more especially the big multinational conglomerates were increasingly viewed by the people world over as one of the major causes of the economic problems faced by millions globally, in terms of job loss and lifetime savings being wiped out as banks and pension funds went bankrupt and people stared at an insecure financial future. This caused a lot of resentment in the public against big businesses and fueled several protest movements by the people such as “Occupy Wall Street” in different parts of the world. This forced the big businesses to respond to the challenge by adopting more people-centric policies and initiatives for local communities in societies where they operate as part of their corporate social responsibility (CSR), in order to regain their social acceptance among the people whilst earning their ‘social license to operate’. The current paper studies many of such large MNCs across the United States of America, India and South Africa, which changed the way they did business earlier, following the global economic crisis in 2008, by incorporating capacity building initiatives for local communities as part of their CSR strategy and explores whether it has contributed to improving their financial performance. It is a conceptual research paper using secondary source data. The findings reveal that there is a positive correlation between the companies’ corporate social performance and corporate financial performance. In addition, the findings also bring to light that the MNCs examined as part of the current paper have improved their image in the eyes of their stakeholders following the change in their CSR strategy and initiatives.

Keywords: corporate social responsibility (CSR), Corporate Social Performance (CSP), Corporate Financial Performance (CFP), local communities

Procedia PDF Downloads 330

Authors: Nazi Pharsadanishvili, Anastasia Kitiashvili

Abstract:

The importance of studying the social-psychological features of people living in poverty is often emphasized in international research. Building a multidimensional economic framework for reducing poverty grounded in people’s experiences and values is the main goal of famous Poverty Research Centers (such as Oxford Poverty and Human Development Initiative, Abdul Latif Jameel Poverty Action Lab). The aims of the proposed research are to investigate the following characteristics of socially vulnerable people living in Georgia: 1) The features of the perceived stigma of poverty; 2) economic system justification and social justice beliefs; 3) Perceived social mobility and actual attempts at upward social mobility. Qualitative research was conducted to address the indicated research goals and descriptive research questions. Conducting in-depth interviews was considered to be the most appropriate method to capture the vivid feelings and experiences of people living in poverty. 17 respondents (registered in the unified database of socially vulnerable families) participated in in-depth interviews. According to the research results, socially vulnerable people living in Georgia perceive stigma targeted toward them. Two sub-dimensions were identified in perceived stigma: experienced stigma and internalized stigma. Experienced stigma reflects the instances of being discriminated and perceptions of negative treatment from other members of society. Internalized stigma covers negative personal emotions, the feelings of shame, the fear of future stigmatization, and self-isolation. The attitudes and justifications of the existing economic system affect people’s attempts to cope with poverty. Complex analysis of those results is important during the planning and implementing of social welfare reforms. Particularly, it is important to implement poverty stigma reduction mechanisms and help socially vulnerable people to see real perspectives on upward social mobility.

Keywords: coping with poverty, economic system justification, perceived stigma of poverty, upward social mobility

Procedia PDF Downloads 183

Authors: Agria Rhamdhan

Abstract:

WhatsApp as the most popular mobile messaging app has been used as evidence in many criminal cases. As the use of mobile messages generates large amounts of data, forensic investigation faces the challenge of large data problems. The hardest part of finding this important evidence is because current practice utilizes tools and technique that require manual analysis to check all messages. That way, analyze large sets of mobile messaging data will take a lot of time and effort. Our work offers methodologies based on forensic triage to reduce large data to manageable sets resulting easier to do detailed reviews, then show the results through interactive visualization to show important term, entities and relationship through intelligent ranking using Term Frequency-Inverse Document Frequency (TF-IDF) and Latent Dirichlet Allocation (LDA) Model. By implementing this methodology, investigators can improve investigation processing time and result's accuracy.

Keywords: forensics, triage, visualization, WhatsApp

Procedia PDF Downloads 164

Authors: L. Heidari, M. Jalili Ghazizade

Abstract:

This paper aims to determine the best environmental and economic scenario for Municipal Solid Waste (MSW) management of the Maku city by using Life Cycle Assessment (LCA) approach. The functional elements of this study are collection, transportation, and disposal of MSW in Maku city. Waste composition and density, as two key parameters of MSW, have been determined by field sampling, and then, the other important specifications of MSW like chemical formula, thermal energy and water content were calculated. These data beside other information related to collection and disposal facilities are used as a reliable source of data to assess the environmental impacts of different waste management options, including landfills, composting, recycling and energy recovery. The environmental impact of MSW management options has been investigated in 15 different scenarios by Integrated Waste Management (IWM) software. The photochemical smog, greenhouse gases, acid gases, toxic emissions, and energy consumption of each scenario are measured. Then, the environmental indices of each scenario are specified by weighting these parameters. Economic costs of scenarios have been also compared with each other based on literature. As final result, since the organic materials make more than 80% of the waste, compost can be a suitable method. Although the major part of the remaining 20% of waste can be recycled, due to the high cost of necessary equipment, the landfill option has been suggested. Therefore, the scenario with 80% composting and 20% landfilling is selected as superior environmental and economic scenario. This study shows that, to select a scenario with practical applications, simultaneously environmental and economic aspects of different scenarios must be considered.

Keywords: IWM software, life cycle assessment, Maku, municipal solid waste management

Procedia PDF Downloads 233

Authors: Marinela Istrate, Ionel Muntele, Alexandru Bănică

Abstract:

The authors propose the identification, analysis and prognosis of the quantitative and qualitative evolution of the elderly population in the functional urban areas. The present paper takes into account the analysis of some representative indicators (the weight of the elderly population, ageing index, dynamic index of economic ageing of productive population etc.) and the elaboration of an integrated indicator that would help differentiate the population ageing forms in the 48 functional urban areas that were defined based on demographic and social-economic criteria for all large and medium cities in Romania.

Keywords: ageing, demographic transition, functional urban areas, spatial resilience

Procedia PDF Downloads 348

Authors: Uwizera Egide

Abstract:

Introduction: Dermatological conditions are one of the most burdensome diseases in our health system. Global studies suggest that around 1 in 3 people gets a skin disease at a certain point in their life, though this does not necessarily guarantee the urge to consult. For a high-ranking disease, it is surprising how there is not enough data to support its effect on the economy and the general health system impact. It is for that reason that this study’s aim is to identify the burden of dermatological conditions in Rwanda so as to have a general picture of what our population is going through in regards to dermatological conditions. Methods: We used a cross sectional retrospective study. Data were obtained from patient’s information recorded in an open clinic at CHUB in a period of six months from July to December of the year 2021. Results: The study had a total of 4600 patients who attended dermatology service in a period of six months from July to December of the year 2021. We found a list of 102 dermatological diseases that presented at variable rates. The most prevalent disease was atopic dermatitis, at a rate of 23%. About 90% of presented conditions had only one choice of treatment from the hospital pharmacy. Most patients who presented were between 18-35 years old and with a predominance of the female gender; the level of education was either secondary or University Degree in our study, 65.4% of patients who presented were female; the majority, around 45% were between 18-35 years old, mostly being single 56%. The majority came from Southern province as it is the location of the hospital. The insurance mostly used was community-based health insurance with 63.8%, followed by RSSB with 18.5%, MS/UR, and other private insurances. The frequency of group drugs prescribed among all dermatological medications, steroids were the most commonly given medications at a rate of 39%, followed by emollients, antibiotics, and antifungal. The drugs prescribed were mostly available in the pharmacy of CHUB, with 60% and 40% being found in pharmacies outside the hospital. Conclusion: Dermatological conditions are prevalent in all age groups and distributed through all socioeconomic classes. About 9.2% of patient who consulted CHUB in 2021 presented one Dermatological condition of which 40 % of prescribed medications is never found in Hospital urging a need to buy medication in private pharmacies with more expenses and a risk of not complying on prescribed medication if in case they can’t afford paying them outside the CHUB. This finding urges a need to avail all essential dermatological drugs in hospital pharmacies to allow our patients to get them for the proper compliance of prescribed drugs in the management of skin diseases.

Keywords: atopic dermatitis, CHUB (centre hopitalier univerisitaire de butare), dermatological condition, fungal infections

Procedia PDF Downloads 106

Authors: Younis Jabarzadeh, Rahim Sarvari, Negar Ahmadi Alghalandis

Abstract:

Entrepreneurship at both individual and organizational level is one of the most driving forces in economic development and leads to growth and competition, job generation and social development. Especially in developing countries, the role of entrepreneurship in economic and social prosperity is more emphasized. But the effect of global economic development on the environment is undeniable, especially in negative ways, and there is a need to rethink current business models and the way entrepreneurs act to introduce new businesses to address and embed environmental issues in order to achieve sustainable development. In this paper, green or sustainable entrepreneurship is addressed in Iran to identify challenges and barriers entrepreneurs in the economic and social sectors face in developing green business solutions. Sustainable or green entrepreneurship has been gaining interest among scholars in recent years and addressing its challenges and barriers need much more attention to fill the gap in the literature and facilitate the way those entrepreneurs are pursuing. This research comprised of two main phases: qualitative and quantitative. At qualitative phase, after a thorough literature review, fuzzy Delphi method is utilized to verify those challenges and barriers by gathering a panel of experts and surveying them. In this phase, several other contextually related factors were added to the list of identified barriers and challenges mentioned in the literature. Then, at the quantitative phase, Interpretive Structural Modeling is applied to construct a network of interactions among those barriers identified at the previous phase. Again, a panel of subject matter experts comprised of academic and industry experts was surveyed. The results of this study can be used by policymakers in both the public and industry sector, to introduce more systematic solutions to eliminate those barriers and help entrepreneurs overcome challenges of sustainable entrepreneurship. It also contributes to the literature as the first research in this type which deals with the barriers of sustainable entrepreneurship and explores their interaction.

Keywords: green entrepreneurship, barriers, fuzzy Delphi method, interpretive structural modeling

Procedia PDF Downloads 158

Authors: Nasser Alsadoun

Abstract:

Today's companies in Saudi Arabian capital market must comply with strict criteria and adhere to rigid corporate governance rules and continuous disclosure requirements. Unlike other regulators in the region, decision makers of the Capital Market Authority (hereafter CMA) of Saudi Arabia believes that the announcements of economic sanctions and penalties for non-compliance firms will foster more effective regulatory compliance and hence improve the quality of financial reporting. An implied argument put forward by the opponents, however, states that such penalties are unnecessary and stated to be onerous for non-compliance firms. Over that last years, the CMA has publicly announced several economic fines levied on some listed companies for their failing to comply with corporate governance and continuous disclosure regulation clauses, with the amount of fine levied ranges between 50,000 SR to 100,000 SR for each failing. Economic theory suggests that rational investors make decisions based on a cost-benefit principal. The regulatory intervention made by CMA on the announcement of economic sanctions has been costly to the society (economy) hoping that it improves the transparency of financial statements. It is argued, therefore, that threat of regulators and economic sanctions will provide incentives for firms’ managers to report more relevant and reliable accounting information, and the benefit of such announcements is likely to be reflected in the context of the quality of the financial reports. Yet, the economic consequences of the revealed fines announcement for non-compliance firms in Saudi Arabian market have not been examined. Thus, this study attempts to empirically examine whether market participants are pricing the supposed benefits of rigid governance and disclosure rules in the Saudi market. The study employs an event study methodology to assess the impact of CMA economic sanctions announcements on the market price of non-compliance firms. The study also estimates and examines bid–ask spread behavior of violated firms around the CMA announcements. The findings indicate that the CMA fines announcements for failing to comply with governance and disclosure rules do not appear to play any significant role in securities pricing. In addition, tests of bid-ask behavior does not indicate any significant increases in information asymmetry surrounding these announcements. While the CMA has developed many goals to increase the awareness of listed companies with the best governance and disclosure practices, it seems they have to develop more goals to improve market efficiency and increase investors and public awareness.

Keywords: governance and disclosure violations, financial reporting quality, regulatory intervention, market efficiency

Procedia PDF Downloads 302

Authors: Auliya Adzillatin Uzhma, M. Adrian Rizky, Puri Diah Santyarini

Abstract:

Bekasi Industrial Area in Kab. Bekasi and SEZ (Special Economic Zone) Sei Mangkei in Kab. Simalungun are two areas whose have the same main economic activity that are manufacturing industrial. Manufacturing industry in Bekasi Industrial Area contributes more than 70% of Kab. Bekasi’s GDP, while manufacturing industry in SEZ Sei Mangkei contributes less than 20% of Kab. Simalungun’s GDP. The dependent variable in the research is labor productivity, while the independent variable is the amount of labor, the level of labor education, the length of work and salary. This research used linear regression method to find the model for represent actual condition of productivity in two industrial area, then the equalization using dummy variable on labor education level variable. The initial hypothesis (Ho) in this research is that labor productivity in Bekasi Industrial Area will be higher than the productivity of labor in SEZ Sei Mangkei. The variable that supporting the accepted hypothesis are more labor, higher education, longer work and higher salary in Bekasi Industrial Area.

Keywords: labor, industrial city, linear regression, productivity

Procedia PDF Downloads 173

Authors: Dan Cristian Popescu

Abstract:

The new territorial identities and global dynamics have determined a change of policies of economics, social and cultural development from a vertical to a horizontal approach, which is based on cooperation networks between institutional actors, economic operators or civil society representatives. The European integration has not only generated a different patterns of competitiveness, economic growth, concentration of attractive potential, but also disparities among regions of this country, or even in the countryside within a region. To a better understanding of the dynamics of regional development and the impact of this concept on Romania, I chose as a case study the region Bucharest-Ilfov which is analyzed on the basis of predetermined indicators and of the impact of European programs.

Keywords: regional competition, regional development, rural, urban

Procedia PDF Downloads 585

Authors: Edward Y. W. Chu

Abstract:

This paper exemplifies how the political and educational considerations have shaped the heavy-handed MOI policy in Hong Kong after its handover to China in 1997. Its result, a significant degeneration of English standard among the non-elite students, will be reported based on a detailed analysis of the public exam statistics available and other empirical studies. The remedial action taken by the Education Bureau out of the economic and educational considerations will be reported with reference to the official documents. The political, economic and educational considerations exemplified in different stages of Mother-tongue MOI policy in Hong Kong are found to be influential in the MOI policy in other Asian countries as well. For example, out of rapid internationalization and marketization, there has been increasing adoption of English as the MOI in post-secondary institutions in China, Japan & South Korea. On the other hand, while colonial languages were firmly made as the MOI in former colonies such as Vietnam and India, they were greatly retrieved upon independence for political and educational reasons. Malaysia also followed the same pattern upon independence but re-introduced partial English MOI policy in late 90s hoping to capitalize favourable globalization benefits. The short-lived policy was abandoned in 2009 because of the perceived political threat of national identity as well as the lack of educational effectiveness. Based on the great majority of Asian countries studied, this paper argues that MOI policy in Asia is much more than an educational issue, and that there is a clear pattern of how decisions of MOI matters are made. Studying the history and development of MOI in Hong Kong and other Asian countries provides a unique angle to view of how Asian countries prepare for the political, economic and educational challenges nowadays.

Keywords: economics, Hong Kong, medium of instruction, politics

Procedia PDF Downloads 490

Authors: Reza Safari, Ali Rajabzadeh Ghatari, Raheleh Hossseinzadeh Mahabadi

Abstract:

In the present world, there are different pressures on firms such as competition, legislations, social etc. these pressures force the firms to follow “survival” as their primary goal and then growth. One of the main factors that helps firms to reach their goals is proper financial performance. To find out about the financial performance, a firm should monitors its financial performance. Financial performance affected by many factors. This research seeks to clear which financial performance indicators are most important according to Environmental situation of a firm and what are their priorities. To do so, environmental indicators specified as presented on OECD Key Environmental Indicators 2008 and so the financial performance indicators such as Profitability, Liquidity, Gearing, Investor ratios, and etc. At this stage, the affections questioned through questionnaires. After gaining the results, data analyzed using Promethee technique. By using decision matrixes extracted from those techniques an expert system designed. This expert system suggests the suitable financial performance indicators and their ranking by receiving the environment situation given environment indicators weight.

Keywords: environment indicators, financial performance indicators, promethee, expert system

Procedia PDF Downloads 433

Authors: Sansanee Sansiribhan, Anusorn Rattanathanaophat, Chirapan Nuengchaknin

Abstract:

The potential feasibility of a 9.5 MWe capacity rice straw power plant project in Thailand was studied by evaluating the rice straw resource. The result showed that Thailand had a high rice straw biomass potential at the provincial level, especially, the provinces in the central, northeastern and western Thailand, which could feasibly develop plants. The economic feasibility of project was also investigated. The financial feasibility is also evaluated based on two important factors in the project, i.e., NPV ≥ 0 and IRR ≥ 11%. It was found that the rice straw power plant project at 9.5 MWe was financially feasible with the cost of fuel in the range of 30.6-47.7 USD/t.

Keywords: power plant, project feasibility, rice straw, Thailand

Procedia PDF Downloads 331

Authors: William Ho, Agus Wicaksana

Abstract:

Anecdotal evidence in the last decade shows that the occurrence of disruptive events and uncertainties in the supply chain is increasing. The coupling of these events with the nature of an increasingly complex and interdependent business environment leads to devastating impacts that quickly propagate within and across organizations. For example, the recent COVID-19 pandemic increased the global supply chain disruption frequency by at least 20% in 2020 and is projected to have an accumulative cost of $13.8 trillion by 2024. This crisis raises attention to organizational resilience to weather business uncertainty. However, the concept has been criticized for being vague and lacking a consistent definition, thus reducing the significance of the concept for practice and research. This study is intended to solve that issue by providing a comprehensive review of the conceptualization, measurement, and antecedents of operational resilience that have been discussed in the supply chain risk management literature (SCRM). We performed a Scholarly Network Analysis, combining citation-based and text-based approaches, on 252 articles published from 2000 to 2021 in top-tier journals based on three parameters: AJG ranking and ABS ranking, UT Dallas and FT50 list, and editorial board review. We utilized a hybrid scholarly network analysis by combining citation-based and text-based approaches to understand the conceptualization, measurement, and antecedents of operational resilience in the SCRM literature. Specifically, we employed a Bibliographic Coupling Analysis in the research cluster formation stage and a Co-words Analysis in the research cluster interpretation and analysis stage. Our analysis reveals three major research clusters of resilience research in the SCRM literature, namely (1) supply chain network design and optimization, (2) organizational capabilities, and (3) digital technologies. We portray the research process in the last two decades in terms of the exemplar studies, problems studied, commonly used approaches and theories, and solutions provided in each cluster. We then provide a conceptual framework on the conceptualization and antecedents of resilience based on studies in these clusters and highlight potential areas that need to be studied further. Finally, we leverage the concept of abnormal operating performance to propose a new measurement strategy for resilience. This measurement overcomes the limitation of most current measurements that are event-dependent and focus on the resistance or recovery stage - without capturing the growth stage. In conclusion, this study provides a robust literature review through a scholarly network analysis that increases the completeness and accuracy of research cluster identification and analysis to understand conceptualization, antecedents, and measurement of resilience. It also enables us to perform a comprehensive review of resilience research in SCRM literature by including research articles published during the pandemic and connects this development with a plethora of articles published in the last two decades. From the managerial perspective, this study provides practitioners with clarity on the conceptualization and critical success factors of firm resilience from the SCRM perspective.

Keywords: supply chain risk management, organizational resilience, scholarly network analysis, systematic literature review

Procedia PDF Downloads 69

Authors: Jane N. O'Sullivan

Abstract:

In most studies relating change in fertility to potentially causal factors (such as girls’ educational attainment, infant mortality or urbanization), the presence or nature of family planning efforts are not examined, potentially misattributing their contributions. Modest impacts of voluntary family planning programs on fertility change have been claimed, citing the near-term effects of historical quasi-experimental projects – notably in Bangladesh and in Ghana – where recipients and non-recipients could be contrasted. By their nature, such experiments lacked the wider cultural impacts of national programs. Concurrently, analyses relating population growth with economic advancement have been equivocal, discrediting previous widespread concern which prevailed before the 1980s. This neutral view has been revised more recently with demographic dividend theory crediting higher working-age proportion with some economic stimulus if supported by sufficient institutional and human capacity. In this study of country-level data, cross-country comparisons spanning six decades relate fertility decline with family planning effort, GDP per capita and female education, finding that the timing of rapid fertility decline aligns with commencement of voluntary family planning programs, while economic betterment came after substantial fertility fall. The relationship between fertility and primary education completion was inconsistent, with potential channels of causation operating in both directions. GDP per capita was unrelated to rate of fertility decline, but total fertility rates above three children per woman strongly impeded enrichment. By synchronizing countries with respect to their fertility transition, strong relationships are revealed which suggest lower fertility enables economic betterment, rather than the other way around. These results argue in favour of elevating voluntary family planning as a development priority.

Keywords: economic advance, family planning effort, fertility decline, population growth rate

Procedia PDF Downloads 138

Authors: A. Pascual Ramsay

Abstract:

Accounts of the management of the economic and euro crisis in Spain have been dominated by an emphasis on external constraints. However, this approach leaves unanswered important questions about the role of domestic political factors. Using systematic qualitative primary research and employing elite interviewing and process tracing, this paper aims to fill this gap for the period of the Partido Socialista Obrero Español (PSOE) administration. The paper shows that domestic politics played a crucial role in the management of the crisis, most importantly by determining the shape of the measures undertaken. In its three distinct stages – downplaying/inaction, reaction/stimulus, and austerity/reform – the PSOE's response was certainly constrained by external factors, most notably EMU membership and the actions of sovereign-bond investors, the ECB and Germany. Yet while these external constraints forced the government to act, domestic political factors fundamentally shaped the content of key measures: the fiscal stimulus, the labour, financial and pension reforms, the refusal to accept a bailout or the reform of the Constitution. Seven factors were particularly influential: i) electoral and political cost, ii) party and partisanship, iii) organised interests, iv) domestic institutions, v) ideological preferences, vi) ineffective decision-making, and vii) judgement and personal characteristics of decision-makers. In conclusion, domestic politics played an important role in the management of the crisis, a role that has been underestimated by dominant approaches focusing on external constraints and weak domestic policy autonomy. The findings provide empirical evidence to support research agendas that identify significant state discretion in the face of international economic integration and an important role for domestic political factors such as institutions, material interests, partisanship and ideology in shaping economic outcomes.

Keywords: economic crisis, Euro, PSOE, Spain

Procedia PDF Downloads 114