Search results for: economic restructuring
7028 The Term Spread Impact on Economic Activity for Transition Economies: Case of Georgia
Authors: L. Totladze
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The role of financial sector in supporting economic growth and development is well acknowledged. The term spread (the difference between the yields on long-term and short-term Treasury securities) has been found useful for predicting economic variables as output growth, inflation, industrial production, consumption. The temp spread is one of the leading economic indicators according to NBER methodology. Leading economic indicators are widely used in forecasting of economic activity. Many empirical studies find that the term spread predicts future economic activity. The article shortly explains how the term spread might predict future economic activity. This paper analyses the dynamics of the spread between short and long-term interest rates in countries with transition economies. The research paper analyses term spread dynamics in Georgia and compare it with post-communist countries and transition economies spread dynamics. In Georgia, the banking sector plays an important and dominant role in the financial sector, especially with respect to the mobilization of savings and provision of credit and may impact on economic activity. For this purpose, we study the impact of the term spread on economic growth in Georgia.Keywords: forecasting, leading economic indicators, term spread, transition economies
Procedia PDF Downloads 1697027 The Impact of the Economic Crisis in the European Identity
Authors: Sofía Luna, Carla González Salamanca
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The 2008 economic crisis had huge implications in Europe. In this continent, the repercussions of the crisis were not only economic but also political and institutional. The economic stress has generated changes in the perception of the citizens, their attitude and the confidence placed in the political organizations. The lost of confidence is not only present in the debtor countries but it is also present in the European economic powers like Germany and France. This research explains how the economic crisis had an impact in the identity, population’s attitude and how this generated the rise of extreme right parties. In addition, it defines the different types of attitudes and support that exist towards these political and economic institutions. The results of this investigation show that the depression beside of its economic implications, it caused institutional, social and political difficulties for the Union. Moreover, the support and attitudes of the population were severely strained because the confidence in the political organization decreased. Furthermore, a rise in the otherness sentiment was shown. In other words, the distinction between “us” and “them” increased causing repercussions in the collective European identity. Additionally, there was a spread in national identities that caused the rise of the extreme right wing parties. In conclusion, the 2008 economic crisis caused not only economic stress but also it generated a political, social and institutional crisis in Europe.Keywords: Europe, identity, economic crisis, otherness sentiment
Procedia PDF Downloads 4917026 Study on Conservation and Regeneration of the Industrial Buildings
Authors: Rungpansa Noichan, Bart Julian Dewancker
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The conservation and regeneration of historical industrial building is one of the most important issues to be solved in today’s urban development in the world. There are growing numbers of industrial building in which promoting heritage conservation maybe a helpful tool for a sustainable city in social, urban restructuring, environmental and economic component. This paper identifies the key attributes of conservation and regeneration industrial building from the literature, were discussed by reviewing its development at home and abroad. The authors have investigated 93 industrial buildings, which were used as industrial building before and reused into buildings with another function afterward. The data to be discussed below were mainly collected from various publications but also from available internet sources. This study focuses on green transformation, historical culture heritage, transformation techniques, and urban regeneration based on the empirical researches on the historical industrial building and site. Moreover, we focus on social, urban environment and sustainable development. The implications of the study provide suggestions for future improvements in the conservation and regeneration of historical industrial building, and inspire new ways of use, so the building becomes flexible and can consequently be adaptable to changes in order to survive time. Therefore, the building does not take into account only its future impact in the environment and society. Instead, it focuses on its entire life cycle.Keywords: industrial building, heritage conservation, green transformation, regeneration, sustainable development
Procedia PDF Downloads 3607025 A Closer Look on Economic and Fiscal Incentives for Digital TV Industry
Authors: Yunita Anwar, Maya Safira Dewi
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With the increasing importance on digital TV industry, there must be several incentives given to support the growth of the industry. Prior research have found mixed findings of economic and fiscal incentives to economic growth, which means these incentives do not necessarily boost the economic growth while providing support to a particular industry. Focusing on a setting of digital TV transition in Indonesia, this research will conduct document analysis to analyze incentives have been given in other country and incentives currently available in Indonesia. Our results recommend that VAT exemption and local tax incentives could be considered to be added to the incentives list available for digital TV industry.Keywords: Digital TV transition, Economic Incentives, Fiscal Incentives, Policy.
Procedia PDF Downloads 3167024 Energy Consumption, Population and Economic Development Dynamics in Nigeria: An Empirical Evidence
Authors: Evelyn Nwamaka Ogbeide-Osaretin, Bright Orhewere
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This study examined the role of the population in the linkage between energy consumption and economic development in Nigeria. Time series data on energy consumption, population, and economic development were used for the period 1995 to 2020. The Autoregressive Distributed Lag -Error Correction Model (ARDL-ECM) was engaged. Economic development had a negative substantial impact on energy consumption in the long run. Population growth had a positive significant effect on energy consumption. Government expenditure was also found to impact the level of energy consumption, while energy consumption is not a function of oil price in Nigeria.Keywords: dynamic analysis, energy consumption, population, economic development, Nigeria
Procedia PDF Downloads 1727023 History of Russian Women: The Historical Overview of the Images and Roles of Women in Old and Modern Russia
Authors: Elena Chernyak
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The status of Russian women has changed dramatically over the course of Russian history and under different leadership and economic, political, and social conditions. The perception of women, their submissive roles, and low social status cause gender conflict that affects society: demographical issues, increased numbers of divorces, alcoholism, drug abuse, and crime. Despite the fact that around the world women are becoming more independent, protected by law, and play more important roles in society, Russian women are still dependent on men financially, socially, and psychologically. This paper critically explores the experience of Russian women over the course of over a thousand year of Russian history and how the position and image of women changed in Russian Empire, Soviet and post-Soviet Russia and what role women play in contemporary Russia. This paper is a result of deep examination of historical and religious literature, mass media, internet sources, and documents. This analysis shows that throughout history, the role and image of women in society have repeatedly varied depending on ideological and social conditions. In particular, the history of Russian women may be divided into five main periods. The first was the period of paganism, when almost all areas of life were open for women and when women were almost equal in social roles with men. During the second period, starting with the beginning of the Mongol invasion in the 13th century, the position of women was diminishing due to social transformation to the patriarchal society in which women started playing subordinate role in family and society. The third period – the period from the fourteenth through the sixteenth centuries - is a period of the total seclusion of Russian women from each part of social life. The fourth, Soviet period started after the Revolution of 1917. During that time, the position of women was drastically changed due to the transformation of traditional gender roles under the Bolshevik government. Woman's role was seen as worker-mothers who had a double duty: a worker and a mother. The final period began after the collapse of the Soviet Union. The restructuring (Perestroika) and post-Restructuring periods have had contradictory consequences and tremendous impact on Russian society. The image of women as partners and equal to men, which was promoted during the Soviet regime, has been replaced with the traditional functionalist views on family and the role of women, in which men and women have different but supposedly complementary roles. Modern Russia, despite publicly stating its commitment to equal rights, during last two decades has been reverting to an older social model with its emphasis on traditional gender roles, patriarchal ideas of dominant masculinity, and adverse attitudes to women, which are further supported and reinforced by the reviving Russian Orthodox Church. As demonstrated in this review, Russian women have never possessed the same rights as men and have always been subordinate to men. During all period of Russian history, patriarchal ideology maintained and reinforced in Russian society has always subjected women to manipulation, oppression, and victimization and portrayed women as not a ‘full human being’.Keywords: women, Russia, patriarchy, religion, Russian Orthodox Church
Procedia PDF Downloads 1597022 Tracing Economic Policies to Ancient Indian Economic Thought
Authors: Satish Y. Deodhar
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Science without history is like a man without memory. The colossal history of India stores many ideas on economic ethics and public policy, which have been forgotten in the course of time. This paper is an attempt to bring to the fore contributions from ancient Indian treatises. In this context, the paper briefly summarizes alternative economic ideas such as communism, capitalism, and the holistic approach of ancient Indian writings. Thereafter, the idea of a welfare brick for an individual consisting of three dimensions -Purusharthas, Ashramas, and Varnas is discussed. Given the contours of the welfare brick, the concept of the state, its economic policies, markets, prices, interest rates, and credit are covered next. This is followed by delving into the treatment of land, property rights, guilds, and labour relations. The penultimate section summarises the economic advice offered to the head of a household in the treatise Shukranitisara. Finally, in concluding comments, the relevance of ancient Indian writings for modern times is discussed -both for pedagogy and economic policies.Keywords: ancient Indian treatises, history of economic thought, science of political economy, Sanskrit
Procedia PDF Downloads 807021 A Structuring and Classification Method for Assigning Application Areas to Suitable Digital Factory Models
Authors: R. Hellmuth
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The method of factory planning has changed a lot, especially when it is about planning the factory building itself. Factory planning has the task of designing products, plants, processes, organization, areas, and the building of a factory. Regular restructuring is becoming more important in order to maintain the competitiveness of a factory. Restrictions in new areas, shorter life cycles of product and production technology as well as a VUCA world (Volatility, Uncertainty, Complexity and Ambiguity) lead to more frequent restructuring measures within a factory. A digital factory model is the planning basis for rebuilding measures and becomes an indispensable tool. Furthermore, digital building models are increasingly being used in factories to support facility management and manufacturing processes. The main research question of this paper is, therefore: What kind of digital factory model is suitable for the different areas of application during the operation of a factory? First, different types of digital factory models are investigated, and their properties and usabilities for use cases are analysed. Within the scope of investigation are point cloud models, building information models, photogrammetry models, and these enriched with sensor data are examined. It is investigated which digital models allow a simple integration of sensor data and where the differences are. Subsequently, possible application areas of digital factory models are determined by means of a survey and the respective digital factory models are assigned to the application areas. Finally, an application case from maintenance is selected and implemented with the help of the appropriate digital factory model. It is shown how a completely digitalized maintenance process can be supported by a digital factory model by providing information. Among other purposes, the digital factory model is used for indoor navigation, information provision, and display of sensor data. In summary, the paper shows a structuring of digital factory models that concentrates on the geometric representation of a factory building and its technical facilities. A practical application case is shown and implemented. Thus, the systematic selection of digital factory models with the corresponding application cases is evaluated.Keywords: building information modeling, digital factory model, factory planning, maintenance
Procedia PDF Downloads 1037020 The Feasibility of Economic Science in Islam With an Emphasis on Sadr's Vantage Point
Authors: Yahya Jahangiri, Ali Almasi
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Currently capitalism is one of the most important economic issues discussed by great scholars around the world. But Islamic approach, regarding this issue may differ both western and eastern views. A greatest scholar in Islamic economy ‘especially in Shia’ is Martyr Muhammad Baqir Al-Sadr. He wrote “Our economy” (Iqtisaduna) to present an economic point of view according to the Islamic teachings. In this regard firstly we will mention three approaches which are common in Muslim scullers about the economic science and then the main approach which is Sadr's view is described here. His claim explains that Islam and capitalism are in conflict with each other. And finally he explains the relationship between Islam and economy and he suggests the Islamic point of view in economy and its foundations as a solution for economic problems which we face today.Keywords: Islam, economic science, capitalism, Martyr Sadr
Procedia PDF Downloads 3187019 Economic Assessment Methodology to Support Decisions for Transport Infrastructure Development
Authors: Dimitrios J. Dimitriou
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The decades after the end of the second War provide evidence that infrastructures investments contibute to economic development, on terms of productivity and income growth. In order to force productivity and increase competitiveness the financing of large transport infrastructure projects are on the top of the agenda in strategic planning process. Such a decision may take form some days to some decades and stakeholders as well as decision makers need tools in order to estimate the economic impact on natioanl economy of such an investment. The key question in such decisions is if the effects caused by the new infrastructure could be able to boost economic development on one hand, and create new jobs and activities on the other. This paper deals with the review of estimation of the mega transport infrastructure projects economic effects in economy.Keywords: economic impact, transport infrastructure, strategic planning, decision making
Procedia PDF Downloads 2837018 The Economic System (Islam) and Riba's Prohibition on Historical Perspective
Authors: Risanda Alirastra Budiantoro, Riesanda Najmi Sasmita, Sri Herianingrum
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Allah has given the guidance in the form of Islam for Muslim to take and lead all the aspects of life including the economic activity. The Islamic economic system is believed to be the answer to the economic problems that exist at this time. The goal is to achieve falah in kaffah by not doing some economic activities that are in violation as prescribed by Islam. An example for this is riba. Discourse on riba can be said ‘classical’ both in the development of Islamic thought and in Islamic civilization because riba often occurs in all aspects of public life, especially economic transactions (in Islam called muamalah). Riba is an additional retrieval, either in a sale and purchase transaction or lending in a false or contrary to the principle of muamalah in Islam. Prohibition of riba is obtained from various sources by the Qur'an and Hadith Rasulullah SAW, so the scholars firmly and clearly defined the prohibition of riba because there are exploitative elements that can harm the others. So, this study is aimed to identify Islamic economic system and the prohibition of riba in historical perspective. From the results of this study, it is expected to be a good reference for the reader to understand the Islamic economic system and riba in the future.Keywords: economics system, riba, historical perspective, economy
Procedia PDF Downloads 3117017 Transport Infrastructure and Economic Growth in South Africa
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
Procedia PDF Downloads 4707016 Location Quotients Model in Turkey’s Provinces and Nuts II Regions
Authors: Semih Sözer
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One of the most common issues in economic systems is understanding characteristics of economic activities in cities and regions. Although there are critics to economic base models in conceptual and empirical aspects, these models are useful tools to examining the economic structure of a nation, regions or cities. This paper uses one of the methodologies of economic base models namely the location quotients model. Data for this model includes employment numbers of provinces and NUTS II regions in Turkey. Time series of data covers the years of 1990, 2000, 2003, and 2009. Aim of this study is finding which sectors are export-base and which sectors are import-base in provinces and regions. Model results show that big provinces or powerful regions (population, size etc.) mostly have basic sectors in their economic system. However, interesting facts came from different sectors in different provinces and regions in the model results.Keywords: economic base, location quotients model, regional economics, regional development
Procedia PDF Downloads 4197015 Analysis of the Evolution of Social and Economic Indicators of the Mercosur´s Members: 1980-2012
Authors: L. Aparecida Bastos, J. Leige Lopes, J. Crepaldi, R. Monteiro da Silva
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The objective of this study is to analyze the evolution of some social and economic indicators of Mercosur´s economies from 1980 to 2012, based on the statistics of the Latin American Integration Association (LAIA). The objective is to observe if after the accession of these economies to Mercosur (the first accessions occurred in 1994) these indicators showed better performance, in order to demonstrate if economic integration contributed to improved trade, macroeconomic performance, and level of social and economic development of member countries. To this end, the methodologies used will be a literature review and descriptive statistics. The theoretical framework that guides the work are the theories of Integration: Classical Liberal, Marxist and structural-proactive. The results reveal that most social and economic indicators showed better performance in those economies that joined Mercosur after 1994. This work is the result of an investigation already completed.Keywords: economic integration, Mercosur, social indicators, economic indicators
Procedia PDF Downloads 2917014 Africa’s Political and Economic Transformation and the Role of the Disporas
Authors: Noah Yusuf
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The present paper examined the current level of socio-political and economic development in Africa. Models and experiences from other regions of the world, especially, developing ones with similar historical experience with Africa, were explored. The paper concluded that recommendations emanating from past conferences, seminars and symposia on the continent’s socio-economic and political challenges have been poorly implemented because of lack of strong political will; the donor syndrome; weak resource base; capacity constraints in institutions; and lack of accountability, transparency and poor governance. It is, therefore, recommended that African countries need implement sound policies and reforms on a comprehensive basis, if they are to achieve the desired socio-economic and political transformation; and the African in Diasporas represent critical instruments in attaining the socio-economic and political objectives of the continent.Keywords: Africa, political transformation, economic transformation, Africans in diasporas
Procedia PDF Downloads 3347013 The Quality of Economic Growth Regency and Cities in West Java Province: Inclusive Economic Growth
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
Procedia PDF Downloads 2577012 Economic Analysis of Endogenous Growth Model with ICT Capital
Authors: Shoji Katagiri, Hugang Han
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This paper clarifies the role of ICT capital in Economic Growth. Albeit ICT remarkably contributes to economic growth, there are few studies on ICT capital in ICT sector from theoretical point of view. In this paper, production function of ICT which is used as input of intermediate good in final good and ICT sectors is incorporated into our model. In this setting, we analyze the role of ICT on balance growth path and show the possibility of general equilibrium solutions for this model. Through the simulation of the equilibrium solutions, we find that when ICT impacts on economy and economic growth increases, it is necessary that increases of efficiency at ICT sector and of accumulation of non-ICT and ICT capitals occur simultaneously.Keywords: endogenous economic growth, ICT, intensity, capital accumulation
Procedia PDF Downloads 4487011 Biomass For Energy In Improving Sustainable Economic Development
Authors: Dahiru Muhammad, Muhammad Danladi, Muhammad Yahaya, Adamu Garba
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This paper put forward the potentialities of biomass for energy as divers means of sustainable economic development. The paper explains, in brief, the ways or methods that are used to generate energy from biomass, such as combustion, pyrolysis, anaerobic, and gasification, and also how biomass for energy can enhance the sustainable economic development of a Nation. Currently, the nation depends on fossil fuels as a sources of generating its energy which is finite and deflectable with time, while on the other hand, biomass is an alternative and endless product which consists of forest biomass, agricultural residues, and energy crops. Finally, recommendations and conclusion were made on the role of biomass for energy in improving sustainable economic development.Keywords: biomass, energy, sustainability, economic
Procedia PDF Downloads 1277010 Agriculture and Global Economy vis-à-vis the Climate Change
Authors: Assaad Ghazouani, Ati Abdessatar
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In the world, agriculture maintains a social and economic importance in the national economy. Its importance is distinguished by its ripple effects not only downstream but also upstream vis-à-vis the non-agricultural sector. However, the situation is relatively fragile because of weather conditions. In this work, we propose a model to highlight the impacts of climate change (CC) on economic growth in the world where agriculture is considered as a strategic sector. The CC is supposed to directly and indirectly affect economic growth by reducing the performance of the agricultural sector. The model is tested for Tunisia. The results validate the hypothesis that the potential economic damage of the CC is important. Indeed, an increase in CO2 concentration (temperatures and disruption of rainfall patterns) will have an impact on global economic growth particularly by reducing the performance of the agricultural sector. Analysis from a vector error correction model also highlights the magnitude of climate impact on the performance of the agricultural sector and its repercussions on economic growthKeywords: Climate Change, Agriculture, Economic Growth, World, VECM, Cointegration.
Procedia PDF Downloads 6157009 The Power of “Merkiavelli”: Representations of Angela Merkel in the Portuguese Press (2008-2015)
Authors: Ana Mouro, Ana Ramalheira
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Since 1989, with the Fall of the Berlin Wall, Germany has undergone a profound restructuring political and economic process. When the Euro Crisis broke out, Germany was no longer the “sick man” of Europe. Instead, it had recovered its dominance as the strongest and wealthiest economy within the European Union. With the European Debt Crisis, that has been taking place in the European Union since the end of 2009, Germany´s Chancellor Angela Merkel has gained the power of deciding, so to say, on the fate of the debtor nations, but she neither stands for binding German commitments, nor refuses assistance. A debate on whether Merkel’s hesitation has been deliberated and used as a means of coercion has arisen on international print media, and the Portuguese Press has been no exception. This study, which was conducted by using news reporting, opinion articles, interviews and editorials, published in the Portuguese weekly Expresso and the daily Público, from 2008 to 2015, tries to show how Merkel’s hesitation, depicted in the press by the term “Merkiavelli”, was perceived in Portugal, a country that had to embrace the austerity measures, imposed by the European Central Bank, but defined under Angela Merkel´s leading role.Keywords: Euro crisis, “Merkiavelli”, cultural studies, Portuguese quality press
Procedia PDF Downloads 2477008 Longitudinal Assessment on the Economic Impacts of Hosting Major Sports Events
Authors: Huei-Fu Lu
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Hosting international major sports events (MSEs) has become a globalized strategy for many countries. Most modern countries believe that MSEs can bring the hosting countries with substantial and considerable economic and non-economic benefits; so many cities also input a huge of resources to bid for hosting MSEs. Despite the growing importance of MSEs, limited longitudinal analysis has been carried out to understand and explain the long term economic effects of such events. This paper is to continue the focus of previous literature on the economic effects of hosting MSEs. The study periods are from 1950 to 2014 and the secondary macro-economic data are selected from the countries that have hosted the Asian Games and the Olympic Games (including summer and winter) to precede a longitudinal analysis. A comparison of the real economic growth rate, investment, employment and international trade of hosting countries and the duration of these economic effects are also explored and discussed. Based on the countries’ attributes and locating area, aiming to ascertain whether hosting MSEs is economically worthwhile and whether the economic effects from MSEs are realized as anticipated. The results indicate that hosting MSEs to create positive economic effects like GDP growth or long-term employment may be a myth even for developing countries. However, the empirical findings can provide the sport management or authority with longitudinal and comprehensive elaboration for biding or hosting MSEs in the future.Keywords: Asian Games, economic effects, major sports events (MSEs), olympic games
Procedia PDF Downloads 3217007 Biomass Energy in Improving Sustainable Economic Development
Authors: Dahiru Muhammad, Muhammad Danladi, Adamu Garba, Muhammad Yahaya
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This paper put forward the potentialities of biomass for energy as divers means of sustainable economic development. The paper explains in brief the ways or methods that are used to generate energy from biomass, such as combustion, pyrolysis, anaerobic, and gasification, and also how biomass for energy can enhance the sustainable economic development of a Nation. Currently, the nation depends on fossil fuels as a sources of generating its energy which is finite and deflectable with time, while on the other hand, biomass is an alternative and endless product which consists of a forest biomass, agricultural residues, and energy crops. Finally, recommendations and conclusion were made on the role of biomass for energy in improving sustainable economic development.Keywords: biomass, energy, sustainable, economic, development
Procedia PDF Downloads 1197006 Trade Policy and Economic Growth of Turkey in Global Economy: New Empirical Evidence
Authors: Pınar Yardımcı
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This paper tries to answer to the questions whether or not trade openness cause economic growth and trade policy changes is good for Turkey as a developing country in global economy before and after 1980. We employ Johansen cointegration and Granger causality tests with error correction modelling based on vector autoregressive. Using WDI data from the pre-1980 and the post-1980, we find that trade openness and economic growth are cointegrated in the second term only. Also the results suggest a lack of long-run causality between our two variables. These findings may imply that trade policy of Turkey should concentrate more on extra complementary economic reforms.Keywords: globalization, trade policy, economic growth, openness, cointegration, Turkey
Procedia PDF Downloads 3537005 Financial Development, FDI, and Intellectual Property on Economic Growth in Iran
Authors: Fatemeh Fahimifar, Rouhollah Nazari, Seyed Mohammad Reza Hosseini
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Achieving an adaptable rate of economic growth has always been at the forefront of Iran development programs. In order to increase welfare level of the people in the society, all economic and social indices should be improved which is possible just in case of country's economic development and growth. While developing countries has realized the gap between developed countries and developing countries in today's world, a massive movement has been emerged in less developed countries to eliminate this economic gap. Hence this study investigates the effect of financial development, foreign direct investment and intellectual property on Iran's economic growth and taking into account other variables on economic growth such as impact of the share of foreign direct investment on GDP, government consumptive expenditure share of GDP has been paid. Period used in this study is related to the years 1974 to 2009. Also, in this research we have used Generalized Method of Moments (GMM) to examine relationship between variables. The results of this study indicate a meaningful and negative impact of financial development, the share of government consumptive expenditure to GDP and similarly, the initial GDP on economic growth. Also, the degree of economy openness, foreign direct investment and intellectual property has a meaningful positive impact on economic growth.Keywords: financial development, FDI, intellectual property, economic growth, Iran
Procedia PDF Downloads 4627004 A Shift in the Structure of Economy and Synergy of University: Developing Potential Through Research and Development Center of SMEs in Jember
Authors: Muhamad Nugraha
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Economic growth always correlate positively with the magnitude of the unemployment rate. This is caused by labor which one of important variable to keep growth in the real sector of the region. Meanwhile, the economic structure in districts of Jember showed an increase of economic activity began to shift towards the industrial sector and some other economic sectors, so they have an affects to considerations for policy makers to increase economic growth in Jember as an autonomous region in East Java Province. At the fact, SMEs is among the factors driving economic growth in the region. This is shown by the high amount of SMEs. However, employment in the sector grew slightly slowed. It is caused by a lack of productivity in SMEs. Through the analysis of the transformation of economic structure theory, and the theory of Triple Helix using descriptive analytical method Location Quotient and Shift - Share, found that the results of the economic structure in Jember slowly shifting from the agricultural sector to the industrial sector, because it is dominated by trade sector, hotel and restaurant sector. In addition, SMEs is the potential sector of economic growth in Jember. While to maximizing role and functions of the institution's Research and Development Center of SMEs, there are three points to be known, that are Business Landscape, Business Architecture and Value Added.Keywords: economic growth, SMEs, labor, Research and Development Center of SMEs
Procedia PDF Downloads 4367003 Impact of Financial System’s Development on Economic Development: An Empirical Investigation
Authors: Vilma Deltuvaitė
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Comparisons of financial development across countries are central to answering many of the questions on factors leading to economic development. For this reason this study analyzes the implications of financial system’s development on country’s economic development. The aim of the article: to analyze the impact of financial system’s development on economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature, analysis of statistical data, time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results suggest about positive short and long term effect of stock market development on GDP per capita.Keywords: banking sector, economic development, financial system’s development, stock market, private bond market
Procedia PDF Downloads 3777002 The Limits of the Effectiveness of Digital Advertising: Demonstration by the Economic Approach of Measuring Advertising Effectiveness
Authors: Barkaoui Asma
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In our article, we use the economic approach of measuring advertising effectiveness to show the margin of advertising spread gained through digital communication. For economists, profit maximization depends on determining the optimal advertising budget. For this, they use the theories of the marginalist current to determine when the maximum level of benefits is reached. Using the economic approach we show the significant return on investment for advertisers. We then discuss the risks of perception of advertising pressure by consumers.Keywords: digital advertising, economic approach, effectiveness, pressure
Procedia PDF Downloads 2977001 The Impact of Non-Interest Banking on Economic Development in Nigeria
Authors: Oduntan Kemi Olalekan
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Nigeria as the largest economy in Africa is still in its developing stage as its economy cannot be termed developed; it is still in search of economic policy that will positively affect the life of majority of her citizenry. Several policies have been employed to take care of the situation prominent among which is Structural Adjustment Programme (SAP) of Babangida Administration but it could not rescue the economy. Non-interest Banking otherwise known as Islamic Banking has been suggested as a means of developing Nigerian economy as it will enable more Nigerian have access to working capital and contribute positively to the growth of her economy. The paper investigated the level of Nigeria economic development and gave an overview of economic policies since independence, traced the genesis of non-interest banking in Nigeria and made recommendations on the adoption of the policy as an antidote to Nigeria economic development.Keywords: economic development, Nigerian economy, non-interest banking, working capital, Islamic banking.
Procedia PDF Downloads 3837000 Governance and Economic Growth: Evidence for Ten Asian Countries
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
Procedia PDF Downloads 3566999 The Economic Limitations of Defining Data Ownership Rights
Authors: Kacper Tomasz Kröber-Mulawa
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This paper will address the topic of data ownership from an economic perspective, and examples of economic limitations of data property rights will be provided, which have been identified using methods and approaches of economic analysis of law. To properly build a background for the economic focus, in the beginning a short perspective of data and data ownership in the EU’s legal system will be provided. It will include a short introduction to its political and social importance and highlight relevant viewpoints. This will stress the importance of a Single Market for data but also far-reaching regulations of data governance and privacy (including the distinction of personal and non-personal data, data held by public bodies and private businesses). The main discussion of this paper will build upon the briefly referred to legal basis as well as methods and approaches of economic analysis of law.Keywords: antitrust, data, data ownership, digital economy, property rights
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