Search results for: export growth

Authors: Shilpi Tyagi, D. K. Nauriyal

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This study investigates the firm level determinants of profitability of Indian drug and pharmaceutical industry. The study uses inflation adjusted panel data for a period 2000-2013 and applies OLS regression model with Driscoll-Kraay standard errors. It has been found that export intensity, A&M intensity, firm’s market power and stronger patent regime dummy have exercised positive influence on profitability. The negative and statistically significant influence of R&D intensity and raw material import intensity points to the need for firms to adopt suitable investment strategies. The study suggests that firms are required to pay far more attention to optimize their operating expenditures, advertisement and marketing expenditures and improve their export orientation, as part of the long term strategy.

Keywords: Indian pharmaceutical industry, profits, TRIPS, performance

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Authors: Sanja Pfeifer, Nataša Šarlija, Marina Jeger, Ana Bilandžić

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The purpose of this study is to explore the different facets of growth among micro, small and medium-sized firms in Croatia and to analyze the differences between models designed for all micro, small and medium-sized firms and those in creative industries. Three growth prediction models were designed and tested using the growth of sales, employment and assets of the company as dependent variables. The key drivers of sales growth are: prudent use of cash, industry affiliation and higher share of intangible assets. Growth of assets depends on retained profits, internal and external sources of financing, as well as industry affiliation. Growth in employment is closely related to sources of financing, in particular, debt and it occurs less frequently than growth in sales and assets. The findings confirm the assumption that growth strategies of small and medium-sized enterprises (SMEs) in creative industries have specific differences in comparison to SMEs in general. Interestingly, only 2.2% of growing enterprises achieve growth in employment, assets and sales simultaneously.

Keywords: creative industries, growth prediction model, growth determinants, growth measures

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Authors: Faisal Algosair

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We examine the role of monetary policy in the presence of commodity price shocks using a Dynamic stochastic general equilibrium (DSGE) model with price and wage rigidities. The model characterizes a commodity exporter by its degree of export diversification, and explores the following monetary regimes: flexible domestic inflation targeting; flexible Consumer Price Index inflation targeting; exchange rate peg; and optimal rule. An increase in the degree of diversification is found to mitigate responses to commodity shocks. The welfare comparison suggests that a flexible exchange rate regime under the optimal rule is preferred to an exchange rate peg. However, monetary policy provides limited stabilization effects in an economy with low degree of export diversification.

Keywords: business cycle, commodity price, exchange rate, global financial cycle

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Authors: Olanrewaju Aladeitan, Obiageli Phina Anaghara-Uzor

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Despite the abundance of natural gas deposits in Nigeria and the immense potential, this presents both for the domestic and export oriented revenue, there exists an imbalance in the preference for export as against the development and optimal utilization of natural gas for the domestic industry. Considerable amounts of gas are still being wasted by flaring in the country to this day. Although the government has set in place initiatives to harness gas at the flare and thereby reduce volumes flared, the gas producers would rather direct the gas produced to the export market whereas gas apportioned to the domestic market is often marred by the low domestic gas price which is often discouraging to the gas producers. The exported fraction of gas production no doubt yields healthy revenues for the government and an encouraging return on investment for the gas producers and for this reason export sales remain enticing and preferable to the domestic sale of gas. This export pull impacts negatively if left unchecked, on the domestic market which is in no position to match the price at the international markets. The issue of gas price remains critical to the optimal development of the domestic gas industry, in that it comprises the basis for investment decisions of the producers on the allocation of their scarce resources and to what project to channel their output in order to maximize profit. In order then to rebalance the domestic industry and streamline the market for gas, the Gas Aggregation Company of Nigeria, also known as the Strategic Aggregator was proposed under the Nigerian Gas Master Plan of 2008 and then established pursuant to the National Gas Supply and Pricing Regulations of 2008 to implement the domestic gas supply obligation which focuses on ramping-up gas volumes for domestic utilization by mandatorily requiring each gas producer to dedicate a portion of its gas production for domestic utilization before having recourse to the export market. The 2008 Regulations further stipulate penalties in the event of non-compliance. This study, in the main, assesses the adequacy of the legal framework for the Nigerian Gas Industry, given that the operational laws are structured more for oil than its gas counterpart; examine the legal basis for the Strategic Aggregator in the light of the Domestic Gas Supply and Pricing Policy 2008 and the National Domestic Gas Supply and Pricing Regulations 2008 and makes a case for a review of the pivotal role of the Aggregator in the Nigerian Gas market. In undertaking this assessment, the doctrinal research methodology was adopted. Findings from research conducted reveal the reawakening of the Federal Government to the immense potential of its gas industry as a critical sector of its economy and the need for a sustainable domestic natural gas market. A case for the review of the ownership structure of the Aggregator to comprise a balanced mix of the Federal Government, gas producers and other key stakeholders in order to ensure the effective implementation of the domestic supply obligations becomes all the more imperative.

Keywords: domestic supply obligations, natural gas, Nigerian gas sector, strategic gas aggregator

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Authors: Mario Gómez, José Carlos Rodríguez

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The causal relationship between energy consumption and economic growth has been an important issue in the economic literature. This paper studies the causal relationship between electricity consumption and economic growth in Mexico for the period of 1971-2011. In so doing, unit root tests and causality test are applied. The results show that the series are stationary in levels and that there is causality running from economic growth to energy consumption. The energy conservation policies have little or no impact on economic growth in México.

Keywords: causality, economic growth, energy consumption, Mexico

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Authors: Hyuk Sung Yoon, In-Lee Choi, Mohammad Zahirul Islam, Jun Pill Baek, Ho-Min Kang

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The strawberry ‘Maehyang’ cultivated in South Korea has been increased to export to Southeast Asia. The degradation of quality often occurs in strawberries during short export period. Botrytis cinerea has been known to cause major damage to the export strawberries and the disease was caused during shipping and distribution. This study was conducted to find out the sterilized effect of chlorine dioxide(ClO2) gas and high concentration of CO2 gas injection for ‘Maehyang’ strawberry and it was packaged with oxygen transmission rate (OTR) films. The strawberry was harvested at 80% color changed stage and packaged with OTR film and perforated film (control). The treatments were a MAP used by with 20,000 cc·m-2·day·atm OTR film and gas injection in packages. The gas type of ClO2 and CO2 were injected into OTR film packages, and treatments were 6 mg/L ClO2, 15% CO2, and they were combined. The treated strawberries were stored at 3℃ for 30 days. Fresh weight loss rate was less than 1% in all OTR film packages but it was more than 15% in a perforated film treatment that showed severe deterioration of visual quality during storage. Carbon dioxide concentration within a package showed approximately 15% of the maximum CO2 concentration in all treatments except control until the 21st day, it was the tolerated range of maximum CO2 concentration of strawberry in recommended CA or MA conditions. But, it increased to almost 50% on the 30th day. Oxygen concentration showed a decrease down to approximately 0% in all treatments except control for 25 days. Ethylene concentration was shown to be steady until the 17th day, but it quickly increased on the 17th day and dropped down on the final storage day (30th day). All treatments did not show any significant differences in gas treatments. Firmness increased in CO2 (15%) and ClO2 (6mg/L) + CO2 (15%) treatments during storage. It might be the effect of high concentration CO2 known by reducing decay and cell wall degradation. The soluble solid decreased in all treatments during storage. These results were caused to use up the sugar by the increase of respiration during storage. The titratable acidity showed a similarity in all treatments. Incidence of fungi was 0% in CO2 (15%) and ClO2 (6mg/L)+ CO2 (15%), but was more than 20% in a perforated film treatment. Consequently, The result indicates that Chloride Dioxide(ClO2) and high concentration of CO2 inhibited fungi growth. Due to the fact that fresh weight loss rate and incidence of fungi were lower, the ClO2(6mg/L)+ CO2(15%) prove to be most efficient in sterilization. These results suggest that Chloride Dioxide (ClO2) and high concentration of CO2 gas injection treatments were an effective decontamination technique for improving the safety of strawberries.

Keywords: chloride dioxide, high concentration of CO2, modified atmosphere condition, oxygen transmission rate films

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Authors: Valencia P. L. Rodrigo, Morita A. Adelina, Vargas V. Martin

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This proposal consists of an analysis of macro concepts involved within an organization growth using educational technologies, which will relate each concept, in a mathematical way with a vision of harmonic work. Working collaboratively, competitively and cooperatively so that this growth is harmonious and homogenous, coining a new term, Harmonic Work. The Harmonic Work ensures that the organization grows in all business directions, allowing managers to project a much more accurate growth, making clear the contribution of each department, resulting in an algorithm that analyzes each of the variables both endogenous and exogenous, establishing different performance indicators in its process of growth.

Keywords: business projection, collaboration, competitiveness, educational technology, harmonious growth

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Authors: Ngo the Bach

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Vietnam is one of not many Asian countries that have a long-standing and famous tradition of pottery production. Vietnam is also one of three countries including China, Vietnam, and Japan developed strongly the export of ceramics to other countries. In recent decades, the studies of Vietnamese and foreign scholars on Vietnamese trade ceramics as well as Vietnamese foreign trade was initially recorded. The aim of this article is to introduce an overview of the findings situation and research results; the development of Vietnam ceramics and the Vietnamese history of maritime trade with Asian ceramics from the 14th century to the 17th century. Given that, the author systematized materials; carried out the synthetic and analysis for research results of Vietnamese and foreign researchers until now on Vietnamese export ceramics on the basis of the historical sources, archaeological findings discovered from relics in the tombs, relics of residence, relics of trading port inland, and the ancient shipwreck sank in the Asian countries.

Keywords: Vietnamese ceramics, trading, maritime, international

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Authors: Chin-Ho Lin

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This study explores the impact of technical barriers to trade(TBT) on the import value and weight of 54 types of waste products between ASEAN+6 countries and 200 trading partners from 1999–to 2018. By using disaggregated detailed product data and the gravity model, we obtained results demonstrating that implementation of TBT by importing countries is likely to enhance waste trade. After controlling for three combinations of fixed effects, the results remain robust. We consider the quality of waste products by dividing waste products into recyclable and nonrecyclable materials, revealing that imported recyclable waste is more likely to be imported than nonrecyclable waste. When waste trade isregulated by importing countries through TBT implementation, the exporting countries may export relatively valuable waste products, and recyclable waste is of greater economic value because it can be used as an input in other production processes. Finally, developed countries are more likely than developing countries to export waste to the ASEAN+6countries, a finding that supports the waste haven hypothesis.

Keywords: waste trade, ASEAN+6, technical barriers to trade, gravity model, waste haven hypothesis

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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

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Authors: S. O. Oyamakin, A. U. Chukwu

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Richard's growth equation being a generalized logistic growth equation was improved upon by introducing an allometric parameter using the hyperbolic sine function. The integral solution to this was called hyperbolic Richard's growth model having transformed the solution from deterministic to a stochastic growth model. Its ability in model prediction was compared with the classical Richard's growth model an approach which mimicked the natural variability of heights/diameter increment with respect to age and therefore provides a more realistic height/diameter predictions using the coefficient of determination (R2), Mean Absolute Error (MAE) and Mean Square Error (MSE) results. The Kolmogorov-Smirnov test and Shapiro-Wilk test was also used to test the behavior of the error term for possible violations. The mean function of top height/Dbh over age using the two models under study predicted closely the observed values of top height/Dbh in the hyperbolic Richard's nonlinear growth models better than the classical Richard's growth model.

Keywords: height, Dbh, forest, Pinus caribaea, hyperbolic, Richard's, stochastic

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Authors: Samuel Oluwafemi Oyamakin, Angela Unna Chukwu

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Richrads growth equation being a generalized logistic growth equation was improved upon by introducing an allometric parameter using the hyperbolic sine function. The integral solution to this was called hyperbolic Richards growth model having transformed the solution from deterministic to a stochastic growth model. Its ability in model prediction was compared with the classical Richards growth model an approach which mimicked the natural variability of heights/diameter increment with respect to age and therefore provides a more realistic height/diameter predictions using the coefficient of determination (R2), Mean Absolute Error (MAE) and Mean Square Error (MSE) results. The Kolmogorov-Smirnov test and Shapiro-Wilk test was also used to test the behavior of the error term for possible violations. The mean function of top height/Dbh over age using the two models under study predicted closely the observed values of top height/Dbh in the hyperbolic Richards nonlinear growth models better than the classical Richards growth model.

Keywords: height, diameter at breast height, DBH, hyperbolic sine function, Pinus caribaea, Richards' growth model

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Authors: Assefa Mitike Janko, Gosa Alemu

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The review of supply and marketing of floriculture in Ethiopia was conducted to analyses the production potential and to know the marketing share of the country. The data was collected from secondary and primary. Ethiopia has been operating in the floriculture industry for over 20 years. As is the case in many developing countries, the major export items of Ethiopia are dominated by few agricultural products that earn very small amounts in the international market. Moreover, most of the exports are destined to only few countries. Given the highly capital intensive nature of production and processing, rose farming is not a smallholder activity. It is also important to note the extremely tightly controlled time dimension of the logistics process, given the product attributes desired and the fragility and perishability of the roses. Another characteristic of the Ethiopian floriculture sector is the lack of domestically produced inputs that flower producers can access. The export volume and value of cut-flowers accounts for a small proportion of the total exports of Ethiopia. In recent years the sector is showing improvements in terms of the quality and quantity of exports to the international market.

Keywords: roses, production, value chain, floriculture, supply

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Authors: E. Kharaishvili, M. Chavleishvili, M. Natsvaladze

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The article presents the trends in Georgian wine market development and evaluates the competitive advantages of Georgia to enter the wine market based on its customs, traditions and historical practices combined with modern technologies. In order to analyze the supply of wine, dynamics of vineyard land area and grape varieties are discussed, trends in wine production are presented, trends in export and import are evaluated, local wine market, its micro and macro environments are studied and analyzed based on the interviews with experts and analysis of initial recording materials. For strengthening its position on the international market, the level of competitiveness of Georgian wine is defined, which is evaluated by “ex-ante” and “ex-post” methods, as well as by four basic and two additional factors of the Porter’s diamond method; potential advantages and disadvantages of Georgian wine are revealed. Conclusions are made by identifying the factors that hinder the development of Georgian wine market. Based on the conclusions, relevant recommendations are developed.

Keywords: Georgian wine market, competitive advantage, bio wine, export-import, Porter's diamond model

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Authors: Kang-Hyun Leem, Myung-Gyou Kim, Hye Kyung Kim

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Eggs have long been an important contributor to the nutritional quality of the human, and recognized as a very valuable source of proteins for human nutrition. Egg yolk is composed of various important chemical substances for human health. Growth means not only the increase of body weight but also the elongation of height and the enlargement of each organ's anatomical and morphological size. A calcium shortage causes the growth retardation on the body growth. In this study, we examined the therapeutic effects of egg yolk peptide (EYP) on the retardation of the longitudinal bone growth induced by low-calcium diet (0.05%) in adolescent rats. Low calcium diets were administrated for 15 days. During the last five days, calcium and/or vitamin D and/or EYP were administrated. The body weights, longitudinal bone growth rates, the heights of growth plates, and bone morphogenetic protein (BMP)-2 and insulin-like growth factor (IGF)-1 expressions were measured using histochemical analysis. Low calcium diets caused the significant reduction in body weight gains and the longitudinal bone growth. The heights of growth plates and the expressions of BMP-2 and IGF-1 showed the impairment of body growth as well. Calcium and/or vitamin D administration could not significantly increase the longitudinal bone growth. However, calcium, vitamin D, and EYP administration significantly increased the bone growth, the growth plate height, and BMP-2 and IGF-1 expressions. These results suggest that EYP enhances the longitudinal bone growth in the calcium and/or vitamin D deficiency and it could be a promising agent for the treatment of children suffering from malnutrition.

Keywords: egg yolk peptide, low-calcium diet, longitudinal bone growth, morphogenetic protein-2, insulin-like growth factor-1, vitamin D

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Authors: Q. Ahmed, Y. Ren, R. Emery, J. Newman, M. Agarwal

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Celery (Apium graveolens var. dulce) is grown in Australia for domestic consumption and export markets. Quarantine treatment enables export of celery to the world that enforces quarantine against springtails. In the field, celery bunches become host to the Australian native springtail (Hypogastrura vernalis) (Collembola: Hypogastruridae). Springtails live inside the celery bunch and do not cause damage to the product. Springtails are, however, considered a quarantine pest and have had a significant impact on celery exports. In this experiment, cold treatments were conducted on fresh celery to investigate their effect on springtail mortality. Four low-temperature treatments were used (3, 5, 10, and 15 ºC) over four treatment periods (3, 5, 7, and 14 days). Springtail mortality was not affected by the 3, 5, 10 and 15 ºC treatments for the treatment periods of 3, 5, 7, and 14 days. Low-temperature damage was observed most noticeably on celery in the 3 and 5 ºC treatments.

Keywords: springtails, fresh celery, cold treatment, quarantine treatment

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Authors: Osama A. Terfas, Abdelhakim A. Hameda, Abdusalam A. Alktiwi

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An investigation on ductile crack growth of shallow semi-elliptical surface cracks with a/w=0.2, a/c=0.33 under bending was carried out, where a is the crack depth, w is the plate thickness and c is the crack length at surface. Finite element analysis and experiments were modelling and the crack growth model were verified with experimental data. The results showed that the initial crack shape was no longer maintained as the crack developed under ductile tearing. The maximum growth at the deepest point at early stages was stopped when the crack depth reached half thickness and growth occurred beneath surface. Excellent agreement in the crack shape patterns was observed between the experiments and the crack growth model.

Keywords: crack growth, ductile tearing, mean stress, surface cracks

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Authors: Venkata Madhusudana Rao Kapavarapu

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The Intermediate Slug Catcher (ISC) facility was built to process nominally 234 MSCFD of export gas from the booster station on a day-to-day basis and to receive liquid slugs up to 1600 m³ (10,000 BBLS) in volume when the incoming 24” gas pipelines are pigged following upsets or production of non-dew-pointed gas from gathering centers. The maximum slug sizes expected are 812 m³ (5100 BBLS) in winter and 542 m³ (3400 BBLS) in summer after operating for a month or more at 100 MMSCFD of wet gas, being 60 MMSCFD of treated gas from the booster station, combined with 40 MMSCFD of untreated gas from gathering center. The water content is approximately 60% but may be higher if the line is not pigged for an extended period, owing to the relative volatility of the condensate compared to water. In addition to its primary function as a slug catcher, the ISC facility will receive pigged liquids from the upstream and downstream segments of the 14” condensate pipeline, returned liquids from the AGRP, pigged through the 8” pipeline, and blown-down fluids from the 14” condensate pipeline prior to maintenance. These fluids will be received in the condensate flash vessel or the condensate separator, depending on the specific operation, for the separation of water and condensate and settlement of solids scraped from the pipelines. Condensate meeting the colour and 200 ppm water specifications will be dispatched to the AGRP through the 14” pipeline, while off-spec material will be returned to BS-171 via the existing 10” condensate pipeline. When they are not in operation, the existing 24” export gas pipeline and the 10” condensate pipeline will be maintained under export gas pressure, ready for operation. The gas manifold area contains the interconnecting piping and valves needed to align the slug catcher with either of the 24” export gas pipelines from the booster station and to direct the gas to the downstream segment of either of these pipelines. The manifold enables the slug catcher to be bypassed if it needs to be maintained or if through-pigging of the gas pipelines is to be performed. All gas, whether bypassing the slug catcher or returning to the gas pipelines from it, passes through black powder filters to reduce the level of particulates in the stream. These items are connected to the closed drain vessel to drain the liquid collected. Condensate from the booster station is transported to AGRP through 14” condensate pipeline. The existing 10” condensate pipeline will be used as a standby and for utility functions such as returning condensate from AGRP to the ISC or booster station or for transporting off-spec fluids from the ISC back to booster station. The manifold contains block valves that allow the two condensate export lines to be segmented at the ISC, thus facilitating bi-directional flow independently in the upstream and downstream segments, which ensures complete pipeline integrity and facility integrity. Pipeline failures will be attended to with the latest technologies by remote techno plug techniques, and repair activities will be carried out as needed. Pipeline integrity will be evaluated with ili pigging to estimate the pipeline conditions.

Keywords: integrity, oil & gas, innovation, new technology

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Authors: Abubakar Sadiq Mensah

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The Knowledge of the population growth of a nation is paramount to national planning. The population of a place is studied and a model developed over a period of time, Matrices is used to form model for population growth. The eigenvalue ƛ of the matrix A and its corresponding eigenvector X is such that AX = ƛX is calculated. The stable age distribution of the population is obtained using the eigenvalue and the characteristic polynomial. Hence, estimation could be made using eigenvalues and eigenvectors.

Keywords: eigenvalues, eigenvectors, population, growth/stability

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Authors: Krasimir Ivanov, Tonyo Tonev, Nguyen Nguyen, Alexander Peltekov, Anyo Mitkov

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Maize is among the most economically important crops and at the same time one of the most sensitive to soil deficiency in zinc. In this paper, the impact of the foliar zinc application in the form of zinc hydroxy nitrate suspension on the micro and macro elements partitioning in maize leaves and grain was studied during spring maize season, 2017. The impact of the foliar zinc fertilization on the grain yield and quality was estimated too. The experiment was performed by the randomized block design with 8 variants in 3 replications. Seven suspension solutions whit different Zn concentration were used, including ZnO suspension and zinc hydroxyl nitrate alone or nixed with other nutrients. Fertilization and irrigation were the same for all variants. The Zn content and the content of selected micro (Cu, Fe) and macro (Ca, Mg, P and K) elements in maize leaves were determined two weeks after the first spraying (5-6 sheets), two weeks after the second spraying (9-10 sheets) and after harvesting. It was concluded that the synthesized zinc hydroxy nitrate demonstrates potential as the long-term foliar fertilizer. A significant (p < 0.05) effect of zinc accumulation in maize leaves by foliar zinc application during the first growth stage was found, followed by its reutilization to other plants organs during the second growth stage. Significant export of Cu, P, and K from lower and middle leaves was observed. The content of Ca and Mg remains constant in the whole longevity period, while the content of Fe decreases sharply.

Keywords: foliar fertilization, zinc hydroxy nitrate, maize, zinc

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Authors: Ayşen Edirneligil, Mehmet Mucuk

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In developing countries, one of the most important restrictions about the economic growth is the lack of national savings which are supposed to finance the investments. In order to overcome this restriction and achieve the higher rate of economic growth by increasing the level of output, countries choose the external borrowing. However, there is a dispute in the literature over the correlation between external debt and economic growth. The aim of this study is to examine the effects of external debt on Turkish economic growth by using VAR analysis with the quarterly data over the period of 2002:01-2014:04. In this respect, Johansen Cointegration Test, Impulse- Response Function and Variance Decomposition Tests will be used for analyses. Empirical findings show that there is no cointegration in the long run.

Keywords: external debt, economic growth, Turkish economy, time series analysis

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Authors: Kutub Uddin Chisty, Md. Kamrul Islam, Md. Ashraful Islam

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Growth pattern is an important factor for a city because it can help to predict future growth trend and development of a city. Khagrachari District is one of the three hill tracts districts in Bangladesh. It is bordered by the Indian State of Tripura on the north, Rangamati and Chittagong districts on the south, Rangamati district on the east, Chittagong district and the Indian State of Tripura on the west. Khagrachari Pourashava is surrounded by hills and waterways. The Pourashava area is mostly inhibited by non-tribal population, while tribal population lives in hilly regions within and around the Pourashava area. The hilly area growth is different. Based on questioners and expert opinions survey, growth pattern of Khagrachari is evaluated. Different culture, history, tribal people, non-tribal people enrich the hilly heritages. In our study, we analyse the city growth pattern and identify the prominent factors that influence the city growth. Thus, it can help us to identify growth trend of the city.

Keywords: growth pattern, growth trend, prominent factors, regional development

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Authors: Gizem İntepe, Eti Mizrahi

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Investment and financing decisions are influenced by various economic features. Detailed analysis should be conducted in order to make decisions not only by companies but also by governments. Such analysis can be conducted either at the company level or on a sectoral basis to reduce risks and to maximize profits. Sectoral disaggregation caused by seasonality effects, subventions, data advantages or disadvantages may appear in sectors behaving parallel to BIST (Borsa Istanbul stock exchange) Index. Proposed logistic indices could serve market needs as a decision parameter in sectoral basis and also helps forecasting activities in import export volume changes. Also it is an indicator of logistic activity, which is also a sign of economic mobility at the national level. Publicly available data from “Ministry of Transport, Maritime Affairs and Communications” and “Turkish Statistical Institute” is utilized to obtain five logistics indices namely as; exLogistic, imLogistic, fLogistic, dLogistic and cLogistic index. Then, efficiency and reliability of these indices are tested.

Keywords: economic activity, export trade data, import trade data, logistics indices

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Authors: Al-Saboonchi Azhar

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The effects of Iraqi crude oil on growth of three freshwater algae (Chlorella vulgaris Beij., Scenedesmus acuminatus (Lag.) Chodat. and Oscillatoria princeps Vauch.) were investigated, basing on it's biomass expressed as Chl.a. Growth rate and doubling time of the cell were calculated. Results showed that growth rate and species survival varied with concentrations of crude oil and species type. Chlorella vulgaris and Scenedesmus acuminatus were more sensitive in culture containing crude oil as compared with Oscillatoria princeps cultures. The growth of green algae were significantly inhibited in culture containing (5 mg/l) crude oil, while the growth of Oscillatoria princeps reduced in culture containing (10 mg/l) crude oil.

Keywords: algae, crude oil, green algae, Cyanobacteria

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Authors: Bernur Acikgoz

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The purpose of this paper is to investigate the effects of public spending on economic growth and examine the sources of economic growth in developed countries since the 1990s. This paper analyses whether public spending effect on economic growth based on Cobb-Douglas Production Function with the two econometric models with Autoregressive Distributed Lag (ARDL) and Dynamic Fixed Effect (DFE) for 21 developed countries (high-income OECD countries), over the period 1990-2013. Our models results are parallel to each other and the models support that public spending has an important role for economic growth. This result is accurate with theories and previous empirical studies.

Keywords: public spending, economic growth, panel data, ARDL models

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Authors: Umar Hayat, Shahid Ali, Lala Rukh

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Foreign aid is one of the critical variables that promote economic growth. This paper is an attempt to examine the long-run relationship between foreign aid and economic growth for Pakistan over the period of 1972 to 2021. This study uses Johnson's co-integration technique to investigate the long-run relationship among the variables in the model. For short-run dynamics, we utilized the Error Correction Mechanism (ECM). The results strongly support the conventional view about aid-led growth. The analysis of the impact of aid on growth both at the micro and the macro levels generally gives different results. The result shows that in the short run inference of foreign aid under the nondemocratic form of government is significant negatively, while foreign aid does not affect economic growth in the case of democratic government.

Keywords: foreign aid, economic growth, political regimes, developing economy

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Authors: Andres Diaz Garcia

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The successful technological development of any bioproduct, including those of the biostimulant type, requires to adequately completion of a series of stages allied to different disciplines that are related to microbiological, engineering, pharmaceutical chemistry, legal and market components, among others. Engineering as a discipline has a key contribution in different aspects of fermentation processes such as the design and optimization of culture media, the standardization of operating conditions within the bioreactor and the scaling of the production process of the active ingredient that it will be used in unit operations downstream. However, all aspects mentioned must take into account many biological factors of the microorganism such as the growth rate, the level of assimilation to various organic and inorganic sources and the mechanisms of action associated with its biological activity. This paper focuses on the practical experience within the Colombian Corporation for Agricultural Research (Agrosavia), which led to the development of a biostimulant bioproduct based on native rhizobacteria Bacillus amyloliquefaciens, oriented mainly to plant growth promotion in cape gooseberry nurseries and fruit crops in Colombia, and the challenges that were overcome from the expertise in the area of engineering. Through the application of strategies and engineering tools, a culture medium was optimized to obtain concentrations higher than 1E09 CFU (colony form units)/ml in liquid fermentation, the process of biomass production was standardized and a scale-up strategy was generated based on geometric (H/D of bioreactor relationships), and operational criteria based on a minimum dissolved oxygen concentration and that took into account the differences in the capacity of control of the process in the laboratory and pilot scales. Currently, the bioproduct obtained through this technological process is in stages of registration in Colombia for cape gooseberry fruits for export.

Keywords: biochemical engineering, liquid fermentation, plant growth promoting, scale-up process

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Authors: Gisele Mah, Paul Saah

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The rising rates of inflation are hindering economic growth in developing nations. Hence, this study investigated the effects of inflation rates on the economic growth of South Africa using the secondary time series data from 1987 to 2022. The main objectives of this study were to investigate the long run relationship between inflation and economic growth, and also to determine the causality direction between these two variables. The study utilized the Autoregressive Distributed Lag (ARDL) bounds test of co-integration to investigate whether there is a long-run relationship between inflation and economic growth. The Pairwise Granger causality approach was employed to determine the second objective, which is the direction of causality. The study discovered only one co-integration relationship between our variables and it was between inflation and economic growth. The results showed that there is a negative and significant relationship between inflation and economic growth. There appeared to be a positive and significant relationship between economic growth and exchange rate. The interest rates have shown to be negative and insignificant in explaining economic growth. The study also established that inflation does Granger cause economic growth which is given as GDP. Similarly, the study discovered that inflation Granger causes exchange rates. Therefore, the study recommends that inflation should be decreased in South Africa, in order for economic growth to increase. Contrary, this study recommends that South Africa should increase its exchange rates, in order for economic growth to also increase.

Keywords: inflation rate, economic growth, South Africa, autoregressive distributed lag model

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Authors: Fekri Shawtari

Abstract:

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

Abstract:

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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