Search results for: Endogenous growth

Authors: Fekri Shawtari

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The banking sector plays a very crucial role in the economic development of the country. As a financial intermediary, it has assigned a great role in the economic growth and stability. This paper aims to examine the empirically the relationship between banking industry and economic growth in state of Qatar. We adopt the VAR vector error correction model (VECM) along with Granger causality to address the issue over the long-run and short-run between the banking sector and economic growth. It is expected that the results will give policy directions to the policymakers to make strategies that are conducive toward boosting development to achieve the targeted economic growth in current situation.

Keywords: economic growth, banking sector, Qatar, vector error correction model, VECM

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Authors: Philippe Gugler

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This contribution reflects some important questions regarding inter alia the economic development occurring in the light of the ASEAN’s goal of creating the ASEAN Economic Community (AEC) by 2015. We observe a continuing economic growth of GDP per capita over recent years despite the negative effects of the world economic crisis. IMF forecasts indicate that this trend will continue. The paper focuses on the analysis and comparison of economic growth trends of ASEAN countries.

Keywords: ASEAN, convergence, divergence, economic growth, globalization, integration

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Authors: Bindya Jacob

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The aim of the present study was to assess the quality of catchup growth induced by Oral Nutrition Supplement (ONS), in animal model of growth restriction due to under nutrition. Quality of catch-up growth was assessed by proportion of lean body mass (LBM) and fat mass (FM). Young SD rats were food restricted at 70% of normal caloric intake for 4 weeks; and re-fed at 120% of normal caloric intake for 4 weeks. Refeeding diet had 50% calories from animal diet and 50% from ONS formulated for optimal growth. After refeeding, the quantity and quality of catch-up growth were measured including weight, length, LBM and FM. During nutrient restriction, body weight and length of animals was reduced compared to healthy controls. Both LBM and FM were significantly lower than healthy controls (p < 0.001). Refeeding with ONS resulted in increase of weight and length, with significant catch-up growth compared to baseline (p < 0.001). Detailed examination of body composition showed that the catch-up in body weight was due to proportionate increase of LBM and FM, resulting in a final body composition similar to healthy controls. This data supports the use of well-designed ONS for recovery from growth restriction due to under nutrition, and return to normal growth trajectory characterized by normal ratio of lean and fat mass.

Keywords: catch up growth, body composition, nutrient restriction, healthy growth

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Authors: Christopher I. Ifeacho, Adeleke Omolade

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The paper examines the relationship between energy price dynamics and green growth in Sub Sahara African Countries. The quest for adopting green energy in order to improve green growth that can engender sustainability and stability has received more attention from researchers in recent times. This study uses a panel autoregressive distributed lag approach to investigate this relationship. Findings from the result showed that energy price dynamics and exchange rates have more short-run significant impacts on green growth in individual countries rather than the pooled result. Furthermore, the long-run result confirmed that inflation and capital have a significant long-run relationship with green growth. The causality test result revealed the existence of a bi-directional relationship between green growth and energy price dynamics. The study recommends caution in a currency devaluation and improvement in renewable energy production in the Sub Sahara Africa in order to achieve sustainable green growth.

Keywords: green growth, energy price dynamics, Sub Saharan Africa, relationship

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Authors: Jessica Ordoñez, Francisco Ochoa, Pascual García

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The objective of this paper is to analyze the relationship between return migration in Ecuador and economic growth. The improvement of macroeconomic conditions in Latin America, starting in 2012, makes the region a new migratory destination, in both senses in north-south and south-south flows. Current studies highlight only the role of the entrepreneurial migrant in generating employment and economic growth in the region. Nevertheless, it has not been considered that not all migrants are entrepreneurs and that not all entrepreneurs contribute to economic growth. This research compares the socioeconomic and labor characteristics of migrant returnees working as freelancers in Ecuador. The principal aim is to demystify the role of migrant entrepreneurs in regional growth and to identify socioeconomic characteristics that can enhance growth. A panel econometric model was used, which is part of the information from labor and macroeconomic surveys.

Keywords: economic growth, entrepreneur, migration, returned migration

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Authors: S. Boonlertnirun, R. Suvannasara, K. Boonlertnirun

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Hypoxia has negative effects on growth and crop yield, its severity is so varied depending on crop growth stages, duration of hypoxia and crop species. The objective was to evaluate the sensitive growth stage and the duration of hypoxia negatively affecting growth and yield of waxy corn. Pot experiment was conducted using a split plot in randomized complete block with 3 growth stages: V3 (3-4 true leaves), V7 (7-8 true leaves), and R1 (silking stage), and three hypoxic durations: 6, 9, and 12 days, in an open–ended outdoor greenhouse during January to March 2013. The results revealed that different growth stages had significantly (p < 0.5) different responses to hypoxia, seeing that the sensitive growth stage affecting plant height, yield and yield components was mostly detected in V7 growth stage whereas leaf greenness and days to silking were sensitive to hypoxia at R1 growth stage. Different hypoxic durations significantly affected the yield and yield components, hypoxic duration of twelve days showed the most negative effect greater than the others. In this present study, it can be concluded that waxy corn plants were waterlogged at V7 growth stage for twelve days had the most negative effect on yield and yield components.

Keywords: hypoxia duration, waxy corn, growth stage, Zea mays L.

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Authors: Elsayeda M. Elgaml, Dina M. Ibrahim, Elsayed A. Sallam

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Association rule mining is one of the most important fields of data mining and knowledge discovery. In this paper, we propose an efficient multiple support frequent pattern growth algorithm which we called “MSFP-growth” that enhancing the FP-growth algorithm by making infrequent child node pruning step with multiple minimum support using maximum constrains. The algorithm is implemented, and it is compared with other common algorithms: Apriori-multiple minimum supports using maximum constraints and FP-growth. The experimental results show that the rule mining from the proposed algorithm are interesting and our algorithm achieved better performance than other algorithms without scarifying the accuracy.

Keywords: association rules, FP-growth, multiple minimum supports, Weka tool

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Authors: Christopher Ikechukwu Ifeacho

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The paper examines the relationship between energy price dynamics and green growth in Sub Sahara African Countries. The quest for adopting green energy in order to improve the green growth that can engender sustainability, and stability has received more attention from researchers in recent times. This study uses a panel Autoregressive distributed lag approach to investigate this relationship. Findings from the result showed that energy price dynamics and exchange rate have more short-run significant impacts on green growth in individual countries rather than the pooled result. Furthermore, the long-run result confirmed that inflation and capital have a significant long-run relationship with green growth. The causality test result revealed the existence of a bi-directional relationship between green growth and energy price dynamics. The study recommends caution in a currency devaluation and improvement in renewable energy production in the Sub Sahara Africa in order to achieve sustainable green growth.

Keywords: green growth, energy price dynamics, Sub Sahara Africa., sustainability

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Authors: Jeeban Amgain

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This paper investigates the impact of the size and composition of government expenditure and tax on GDP per capita growth in 36 Asian economies over the period of 1991-2012. The research employs the technique of panel regression; Fixed Effects and Generalized Method of Moments (GMM) as well as other statistical and descriptive approaches. The finding concludes that the size of government expenditure and tax revenue are generally low in this region. GDP per capita growth is strongly negative in response to Government expenditure, however, no significant relationship can be measured in case of size of taxation although it is positively correlated with economic growth. Panel regression of decomposed fiscal components also shows that the pattern of allocation of expenditure and taxation really matters on growth. Taxes on international trade and property have a significant positive impact on growth. In contrast, a major portion of expenditure, i.e. expenditure on general public services, health and education are found to have significant negative impact on growth, implying that government expenditures are not being productive in the Asian region for some reasons. Comparatively smaller and efficient government size would enhance the growth.

Keywords: government expenditure, tax, GDP per capita growth, composition

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Authors: Tanimola Kazeem Abiodun

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In the paper, attempt was made to investigate the impact of international trade on economic growth at the disaggregate level both from the theoretical and economic angle. The study in its contribution examines this impact at the disaggregated level. To this end, a hypothesis was formulated to investigate the short ?run and long run impact of international trade on growth in the country. In the econometrics investigation that follow, international trade was disaggregated to export and imports and their short run and long run effect on growth was examined. Also, the aggregate international trade was also investigated to see the long run effects of its own growth. The results of the findings indicate that; both export and import impact significantly to growth in the short run. The long-run impact of export on growth was found to be positive, significant and stable both. Engle-Granger co integration test and error correlation mechanism were applied to these long run relationships. For the import, while the short run was found to be positive and significant on its impact on growth, the long run relationship was found to be negative but not significant. Therefore, it is thus recommended among others that the country should engage more on export promotion drives.

Keywords: international trade, disaggregated, import, export, econometrics, trade, economic growth, foreign trade, import, export

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Authors: M. C. Theong, F. L. Ang, G. J. Muga

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Growth of firms is influenced by environmental changes such as the global and national economy. On the other hand, it indicates the economic situation of a country. Therefore, it is imperative for firms to be sensitive to changes and to stay competitive and remain compatible with the environment. The Malaysian construction industry is prone to environmental changes due to its complexity. In order to survive in the construction industry, focus on the development of the firms themselves to achieve long term their long term goals is vital besides maximizing profits. The objective of this paper is to measure growth of the public listed construction companies in Malaysia and to investigate the development of the companies with highest, moderate and lowest growth. Growth is measured based on the companies' sales between year 2008 and 2012 collected via secondary data collection method. Findings show that the highest average growth created is 235.20 % while the lowest average growth is -22.75%. The construction companies remained active in the construction industry by implementing different sets of strategies and involving in several types of construction projects.

Keywords: growth, Malaysian construction industry, public listed companies, sales

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Authors: Amir Ghasemlouei, Alireza Khalaj

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In women, cancer of the breast is one of the most common incident cancer and cause of death from cancer .we reviewed the prevalence of obesity and its association with breast cancer. In this study, a total of 25 articles regarding the subject matter of the article have been presented in which 640 patients were examined that 320 patients with breast cancer and 320 were controls. The distribution of breast cancer patients and controls with respect to their anthropometric indices in patients with higher weight, which was statistically significant (60.2 ± 10.2 kg) compared with control group (56.1 ± 11.3 kg). The body mass index of patients was (26.06+/-3.42) and significantly higher than the control group (24.1+/-1.7). Obesity leads to increased levels of adipose tissue in the body that can be stored toxins and carcinogens to produce a continuous supply. Due to the high level of fat and the role of estrogen in a woman is endogenous estrogen of the tumor and regulate the activities of growth steroids, obesity is a risk factor for breast cancer is confirmed. Our study and other studies show that obesity is a risk factor for breast cancer. And with a weight loss intervention for breast cancer can be prevented in the future.

Keywords: breast cancer, review study, obesity, overweight

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Authors: G. L. Rithika, Arvind B. S., Akash R., Ananda Vinayak, Hema M. S.

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Cryptocurrencies were first launched in the year 2009 and have been a great asset to own. Cryptocurrencies are a representation of a completely distinct decentralization model for money. They also contribute to the elimination of currency monopolies and the liberation of money from control. The fact that no government agency can determine a coin's value or flow is what cryptocurrency advocates believe makes them safe and secure. The aim of this paper is to analyze the economic implications of cryptocurrency and how it would disrupt traditional financial systems. This paper analyses the growth of Cryptocurrency over the years and the potential threats of cryptocurrency to financial systems. Our analysis shows that although the DeFi design, like the traditional financial system, may have the ability to lower transaction costs, there are multiple layers where rents might build up because of endogenous competition limitations. The permissionless and anonymous design of DeFi poses issues for ensuring tax compliance, anti-money laundering laws and regulations, and preventing financial misconduct.

Keywords: cryptocurrencies, bitcoin, blockchain technology, traditional financial systems, decentralisation, regulatory framework

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Authors: Taha Kadir Yesin, Hanyu Liu, Zhangfan Ding, Amit Singh, Qi Tian, Yuheng Zhang, Biswajyoti Borah, Junyu Chen, Anjali P. Kusumbe

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The skeletal structure and bone marrow endothelium collectively form a critical functional unit essential for bone development, health, and aging. At the core of osteogenesis and bone formation lies the dynamic process of angiogenesis. In this study, we reveal a potent endogenous anabolic NCAM1-14.3.3. ζδ-derived- Peptide interaction, which stimulates bone angiogenesis and osteogenesis during homeostasis, aging, and age-related bone diseases. Employing high-resolution imaging and inducible cell-specific mouse genetics, our results elucidate the pivotal role of the NCAM1-14.3.3.ζδ-derived-Peptide interaction in driving the expansion of Clec14a+ angiogenic endothelial cells. Notably, Clec14a+ endothelial cells express key osteogenic factors. The NCAM1-14.3.3.ζδ-derived-Peptide interaction in osteoblasts drives osteoblast differentiation, ultimately contributing to the genesis of bone. Moreover, the NCAM1-14.3.3.ζδ-derived-Peptide interaction leads to a reduction in bone resorption. In age-associated vascular and bone loss diseases, stimulating the NCAM1-14.3.3.ζδ-derived-Peptide interaction not only promotes angiogenesis but also reverses bone loss. Consequently, harnessing the endogenous anabolic potential of the NCAM1-14.3.3.ζδ-derived-Peptide interaction emerges as a promising therapeutic modality for managing age-related bone diseases.

Keywords: endothelial cell, NCAM1, Clec14a, 14.3.3.ζδ

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Authors: Abigail Mosetsanagape Mooketsi, Itumeleng Pleasure Mongale, Joel Hinaunye Eita

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The aim of this study is to analyse the impact of transport infrastructure on economic growth in South Africa through Engle Granger two step approach using the data from 1970 to 2013. GDP is used as a proxy for economic growth whilst rail transport (rail lines, rail goods transported) and air transport(air passengers carried, air freight) are used as proxies for transport infrastructure. The results showed that there is a positive long-run relationship between transport infrastructure and economic growth. The results show that South Africa’s economic growth can be boosted by providing transport infrastructure. The estimated models were simulated and the results that the model is a good fit. The findings of this research will be beneficial to policy makers, academics and it will also enhance the ability of the investors to make informed decisions about investing in South Africa.

Keywords: transport, infrastructure, economic growth, South Africa

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Authors: Aman Upaganlawar, Chandrasekhar Upasani

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The present study was designed to screen the neuroprotective and antioxidant activity of corosolic acid in painful diabetic neuropathy (DN). Diabetes was induced in rats by single dose of STZ (60mg/kg, i.p). Diabetic rats were tested every week for the development of pain, at 5th week rats showed sensation of pain. At 6th week the rats developed significant neuropathic pain. They were divided into different groups and treated with Corosolic acid (2 and 4 mg/kg, p.o) for further two weeks. Pain was assessed in the diabetic rats by mechano-tactil allodynia, mechanical hyperalgesia and cold allodynia. At the end of treatment period rats were scarified and biochemical changes such as plasma glucose level, endogenous antioxidants (Lipid peroxidation, reduced glutathione, superoxide dismutase and catalase) in sciatic nerve were evaluated. Further Na+/K+ ATPase and nitric oxide content was also evaluated. Treatment with corosolic acid for two weeks restored the altered body weight and elevated blood sugar level. Further corosolic acid showed dose dependent reduction in pain in neuropathic animals. The level of endogenous antioxidants enzymes, Na+/K+ ATPase and nitric oxide were significantly prevented. In conclusion, the result of the present study suggests the antidiabetic, antioxidant and neuroprotectieve property of corosolic acid in diabetic rats with neuropathic pain.

Keywords: neuropathic pain, diabetes, corosolic acid, antioxidant

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Authors: Zahra Amirhosseini, Mahtab Nameni

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The aim of this study was to investigate the relationship between growth, beta, and Company's cash. We calculate cash as dependent variable and growth opportunity and beta as independent variables. This study was based on an analysis of panel data. Population of the study is the companies which listed in Tehran Stock exchange and a financial data of 215 companies during the period 2010 to 2015 have been selected as the sample through systematic sampling. The results of the first hypothesis showed there is a significant relationship between growth opportunities cash holdings. Also according to the analysis done in the second hypothesis, we determined that there is an inverse relation between company risk and cash holdings.

Keywords: growth, beta, liquidity, company

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Authors: Givi Kupatadze

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Backward economies are facing a challenge of achieving sustainable high economic growth rate. Dominant growth models represent a roadmap in framing economic development strategy. This paper examines a relevance of the dominant growth models for backward economies. Cobb-Douglas production function, the Harrod-Domar model of economic growth, the Solow growth model and general formula of gross domestic product are examined to undertake a comprehensive study of the dominant growth models. Deductive research method allows to uncover major weaknesses of the dominant growth models and to come up with practical implications for economic development strategy. The key finding of the paper shows, contrary to what used to be taught by textbooks of economics, that constant returns to scale property of the dominant growth models are a mere coincidence and its generalization over space and time can be regarded as one of the most unfortunate mistakes in the whole field of political economy. The major suggestion of the paper for backward economies is that understanding and considering taxonomy of economic activities based on increasing and diminishing returns to scale represent a cornerstone of successful economic development strategy.

Keywords: backward economies, constant returns to scale, dominant growth models, taxonomy of economic activities

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Authors: F. Husem, M. E. Turan, Y. Sun, H. Ahlatci, I. Tozlu

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Residual stress and fatigue crack growth rates are important to determine mechanical behavior of rails. This study aims to make relationship between residual stress and fatigue crack growth values in rails. For this purpose, three R260 quality rails (0.6-0.8% C, 0.6-1.25 Mn) were chosen. Residual stress of samples was measured by cutting method that is related in railway standard. Then samples were machined for fatigue crack growth test and analyze was completed according to the ASTM E647 standard which gives information about parameters of rails for this test. Microstructure characterizations were examined by Light Optic Microscope (LOM). The results showed that residual stress change with fatigue crack growth rate. The sample has highest residual stress exhibits highest crack growth rate and pearlitic structure can be seen clearly for all samples by microstructure analyze.

Keywords: residual stress, fatigue crack growth, R260, SEM, ASTM E647

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Authors: Cyril Hrncar, Jozef Bujko, Widya P. B. Putra

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The growth curve of poultry is important to evaluate the farming management system. This study was aimed to estimate the growth curve of body weight in goose. The growth curve in this study was estimated with non-linear Gompertz model through CurveExpert 1.4. software. Three Slovak mixed-sex goose breeds of Landes (L), Pomeranian (P) and Steinbacher (S) were used in this study. Total of 28 geese (10 L, 8 P and 10 S) were used to estimate the growth curve. Research showed that the asymptotic weight (A) in those geese were reached of 5332.51 g (L), 6186.14 g (P) and 5048.27 g (S). Thus, the maturing rate (k) in each breed were similar (0.05 g/day). The weight of inflection was reached of 1960.48 g (L), 2274.32 g (P) and 1855.98 g (S). The time of inflection (ti) was reached of 25.6 days (L), 26.2 days (P) and 27.80 days (S). The maximum growth rate (MGR) was reached of 98.02 g/day (L), 113.72 g/day (P) and 92.80 g/day (S). Hence, the coefficient of determination (R2) in Gompertz model was 0.99 for each breed. It can be concluded that Pomeranian geese had highest of growth trait than the other breeds.

Keywords: body weight, growth curve, inflection, Slovak geese, Gompertz model

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Authors: Hummaira Qudsia Yousaf, Sidra Munawar

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The study aims to examine in which way entrepreneurial education and attitude affect the entrepreneur’s success with the help of an entrepreneurial mindset, professional growth, and innovation. The target population was the entrepreneurs of successful startups in Pakistan. Data was gathered through an e-questionnaire, and 230 responses were analyzed using the partial least square structural equation modeling (PLS-SEM). Resultantly, entrepreneurial education is an essential component for the development of an entrepreneurial mindset. Also, an entrepreneurial attitude is responsible for the entrepreneurial mindset, which enhances professional growth. Moreover, the study highlighted that innovation is as necessary as mindset and education are for entrepreneurs. Furthermore, the findings confirmed that professional growth brings innovation to the success of entrepreneurs. This study provides proof of how entrepreneurial education and attitude influence pupils’ success in making entrepreneurs. This study extends the scope of education by incorporating predictors, such as professional growth, innovation, and entrepreneurial success. The study is unique due to the usage of innovative techniques for professional growth that ultimately bring career success.

Keywords: entrepreneurial education, entrepreneurial attitude, entrepreneurial mindset, professional growth, entrepreneurial success, innovation

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Authors: M. Pourshirazi, M. Esmaelifar, A. Aliahmadi, F. Yazdian, A. S. Hatamian Zarami, S. J. Ashrafi

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Monascus purpureus is an antioxidant-producing fungus whose secondary metabolites can be used in drug industries. The growth yield and antioxidant activity of extract were investigated in 3-L liquid fermentation media in a 5-L stirred tank bioreactor (STD) at 30°C, pH 5.93 and darkness for 4 days with 150 rpm agitation and 40% dissolved oxygen. Results were compared to extract isolated from Erlenmeyer flask with the same condition. The growth yield was 0.21 and 0.17 in STD condition and Erlenmeyer flask, respectively. Furthermore, the IC50 of DPPH scavenging activity was 256.32 µg/ml and 150.43 µg/ml for STD extract and flask extract, respectively. Our data demonstrated that transferring the growth condition into the STD caused an increase in growth yield but not in antioxidant activity. Accordingly, there is no relationship between growth rate and secondary metabolites formation. More studies are needed to determine the mass transfer coefficient and also evaluating the hydrodynamic condition have to be done in the future studies.

Keywords: Monascus purpureus, bioreactor, antioxidant, growth yield

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Authors: Fryanto Anugrah Rhamdhani Rhamdhani, Hana Riana Permatasari

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The aim of this study analyzes the inclusive of economic growth and analyzes the inclusive of economic growth determinant in regency and city (West Java Province). The background this study Economic Growth can do not afford to reduce poverty, Disparity and expand The Workforce. Referring Central Bureau Of Statistic West Java Province report in 2015 recorded only 5 regions able reduce poverty, 3 regions able reduce Gini Ratio and 7 regions able Workforce Absorption, meanwhile, 11 regions was improved Economic Growth. The Inclusive of Economic Growth definition based on various literature means the quality Economic Growth able reduce Poverty, Gini Ratio, and Workforce absorption. This study adopted the measurement Inclusive Economic of Growth Klassen and analyzes factor in Term Reducing Poverty, Gini Ratio, and the workforce Absorption. Data used panels data composite time series and cross-section including 25 regency and cities regions from Central Bureau Of Statistic West Java Province during 2014-2015. As a result, the measurement inclusive economic of growth Klassen 2014-2015 from 25 regency and cities shows all region does not inclusive reducing Poverty, only 2 regions able reduce Gini Ratio and 3 regions able increase Workforce absorption. Different from the result the measurement Inclusive Economic of Growth for workforce absorption, several regions shows a negative coefficient indicates Economic Growth decline Workforce absorption. The outcome of this study analyzes factor of Inclusive economic of Growth, so that give recommendations for government achieve inclusive economic of growth toward Sustainable Economic. Can be Concluded above low-quality Economic Growth, that due to all region does not inclusive Economic of Growth.

Keywords: inclusive economic growth, Gini ratio, poverty, workforce

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Authors: Temesgen Yaekob Ergano, Sure Pulla Rao

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The study on financial development and economic growth in Sub-Saharan Africa utilizes System GMM analysis to investigate the relationship between financial development indicators and economic performance in the region. The research findings reveal significant impacts of various financial indicators on economic growth, such as the positive influence of bank liquid reserves to bank assets ratio (R/A), trade openness, and the broad money to total reserves ratio (M/R) on the economic growth of Sub-Saharan Africa. Additionally, the study highlights the negative impact of domestic credit provided to the private sector by banks (D_bank) on economic growth, emphasizing the importance of prudent credit allocation to avoid over-indebtedness and financial crises. These results provide valuable insights for policymakers aiming to foster sustainable economic growth in the region by leveraging financial development effectively.

Keywords: financial development, economic growth, Sub-Saharan Africa, system GMM analysis, financial indicators.

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Authors: Saila Tykkyläinen

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The purpose of this study is to pave the way for more focused accumulation of knowledge on social enterprise growth. The body of research touching upon the phenomenon is somewhat fragmented. In order to make an effort to create a solid common ground, this study draws from the theoretical starting points and guidelines developed within small firm growth research. By analyzing their use in social enterprise growth literature, the study offers insights on whether the proven theories and concepts from small firm context could be more systematically applied when investigating growth of social enterprises. Towards this end, the main findings from social enterprise growth research are classified under the three research streams on growth. One of them focuses on factors of growth, another investigates growth as a process and the third is interested in outcomes of growth. During the analysis, special attention is paid on exploring how social mission of the company and the pursuit of augmenting its social impact are dealt within those lines of research. The next step is to scrutinize and discuss some of the central building blocks of growth research, namely the unit of analysis, conceptualization of a firm and operationalizing growth, in relation to social enterprise studies. It appears that the social enterprise growth literature stresses the significance of 'social' both as a main driver and principle outcome of growth. As for the growth process, this emphasis is manifested by special interest in strategies and models tailored to disseminate social impact beyond organizational limits. Consequently, this study promotes more frequent use of business activity as a unit of analysis in the social enterprise context. Most of the times, it is their products, services or programs with which social enterprises and entrepreneurs aim to create the impact. Thus the focus should be placed on activities rather than on organizations. The study also seeks to contribute back to the small firm growth research. Even though the recommendation to think of business activities as an option for unit of analysis stems from there, it is all too rarely used. Social entrepreneurship makes a good case for testing and developing the approach further.

Keywords: conceptual study, growth, scaling, social enterprise

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Authors: Chiung-Ju Huang

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This study utilizes a frequency domain approach over the period of 1996 to 2013 to examine the causal relationship between governance and economic growth in ten Asian countries, which have different levels of democracy; classified as “Free”, “Partly Free”, and “Not Free” countries. The empirical results show that there is no Granger causality running from governance to economic growth in “Not Free” countries and “Partly Free” countries with the exception of Singapore. As for “Free” countries such as South Korea and Taiwan, there is a one-way causality running from governance to economic growth. The findings of this study indicate that policy makers in South Korea, Taiwan, and Singapore could use governance index to improve their predictions of the future economic growth.

Keywords: economic growth, frequency domain, governance, granger causality

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Authors: Takashi Shimizu, Tomoaki Hashimoto

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Recently, crystal growth technologies have made progress by the requirement for the high quality of crystal materials. To control the crystal growth dynamics actively by external forces is useuful for reducing composition non-uniformity. In this study, a control method based on model predictive control using thermal inputs is proposed for crystal growth dynamics of semiconductor materials. The control system of crystal growth dynamics considered here is governed by the continuity, momentum, energy, and mass transport equations. To establish the control method for such thermal fluid systems, we adopt model predictive control known as a kind of optimal feedback control in which the control performance over a finite future is optimized with a performance index that has a moving initial time and terminal time. The objective of this study is to establish a model predictive control method for crystal growth dynamics of semiconductor materials.

Keywords: model predictive control, optimal control, process control, crystal growth

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Authors: Adeleke Omolade

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The study investigated the impacts of capital goods' import and human capital on the economic growth of the Sub Sahahra Africa (SSA). 30 countries were used in the Panel- ARDL analysis where economic growth is the dependent variables and capital goods' import, human capital, primary export, investment exchange rate, among others were used as the independent variables. The result from the panel analysis indicates that capital goods' import will significantly and positively influence economic growth but human capital fails to have significant positive impact on economic growth of the SSA. Earlier the trend analysis and the correlation results have shown that there is a weak association between capital goods' import and human capital in the SSA. The results offer an expository analysis that reveals that the quality of the human capital is very germane to the effective utilization of capital goods' import for the purpose of growth in a primary goods' export dominated region like the SSA.

Keywords: capital goods import, economic growth, human capital, Sub-Sahara Africa

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Authors: Bin Li

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In the era of the digital economy, digital transformation has gradually become a strategic choice for enterprise development, but there is a relative lack of systematic research from the perspective of enterprise growth. Based on the sample of Chinese A-share listed companies from 2011 to 2021, this paper constructs A digital transformation index system and an enterprise growth composite index to empirically test the impact of enterprise digital transformation on enterprise growth and its mechanism. The results show that digital transformation can significantly promote corporate growth. The mechanism analysis finds that reducing operating costs, optimizing human capital structure, promoting R&D output and improving digital innovation capability play an important intermediary role in the process of digital transformation promoting corporate growth. At the same time, the level of external digital infrastructure and the strength of organizational resilience play a positive moderating role in the process of corporate digital transformation promoting corporate growth. In addition, while further analyzing the heterogeneity of enterprises, this paper further deepens the analysis of the driving factors and digital technology support of digital transformation, as well as the three dimensions of enterprise growth, thus deepening the research depth of enterprise digital transformation.

Keywords: digital transformation, enterprise growth, digital technology, digital infrastructure, organization resilience, digital innovation

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Authors: Uyi Kizito Ehigiamusoe

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The paper examines the impact of money market on economic growth in Nigeria using data for the period 1980-2012. Econometrics techniques such as Ordinary Least Squares Method, Johanson’s Co-integration Test and Vector Error Correction Model were used to examine both the long-run and short-run relationship. Evidence from the study suggest that though a long-run relationship exists between money market and economic growth, but the present state of the Nigerian money market is significantly and negatively related to economic growth. The link between the money market and the real sector of the economy remains very weak. This implies that the market is not yet developed enough to produce the needed growth that will propel the Nigerian economy because of several challenges. It was therefore recommended that government should create the appropriate macroeconomic policies, legal framework and sustain the present reforms with a view to developing the market so as to promote productive activities, investments, and ultimately economic growth.

Keywords: economic growth, investments, money market, money market challenges, money market instruments

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