Search results for: Fiscal Incentives

Authors: O. Onigbogi, M. Onigbogi Jr., O. Ojo

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Background: The advances in mobile telephone technology has led to a rise in its use globally which has improved service delivery, empowered businesses and changed the way people access information. The practice of many health professionals has also been affected by the information and communications technology (ICT) revolution because they have better access to information. This study was conducted to assess the willingness to participate in mobile technology interventions to improve pregnancy outcomes in Lagos, Nigeria. Materials and Methods: A total of 238 respondents completed self-administered questionnaires. SPSS version 18 data editor was used to analyze data. Univariate odds ratios and 95% confidence intervals (95 % CI) were used to evaluate the correlates of Willingness to Use (WTU) mobile phones to receive health messages during pregnancy. Results: A total of 107 women (45% of the respondents) reported that they will be willing to receive health-related information on their phones during pregnancy. Greater willingness was associated with higher education (OR = 1.25, 95% CI: 1.13–1.53), involvement with community volunteer organizations (OR = 1.25, 95% CI: 1.05–1.52), monetary incentives (OR = 1.37, 95% CI: 1.14–1.45) and nulliparity (OR = 1.39, 95% CI: 1.02–1.42). Decreased willingness was associated with concerns about wrong interpretation of information (OR = 0.42, 95% CI: 0.21–0.54), poor mobile telephone service by providers (OR = 0.61, 95% CI: 0.52–0.78), increase in number of messages (OR = 0.78, 95% CI: 0.53–0.76). Conclusion: The level of WTU recorded indicates that much work still needs to be done before this novel approach could be used adopted in delivering health-related information. Incentives for would-be subjects should also be a part of the planning to encourage greater participation.

Keywords: mobile, outcomes, pregnancy, technology, telephone

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Authors: Syed Noaman Shah

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The current paper evaluates the effect of external public debt risk on the borrowing cost of private non-financial firms in euro zone. Further, the study also treats the impact of austerity measures on syndicated-loan spreads of private firm followed by euro area member states to revive the economic growth in the region. To test these hypotheses, we follow multivariate ordinary least square estimation method to assess the effect of external public debt on the borrowing cost of private firms. By using foreign syndicated-loan issuance data of non-financial private firms from 2005 to 2011, we attempt to gauge how the private financing cost varies with high levels of sovereign external debt prevalent in the euro zone. Our results suggest significant effect of external public debt on the borrowing cost of private firm. In particular, an increase in external public debt by one standard deviation from its sample mean raises syndicated-loan spread by 89 bps. Furthermore, weak creditor rights protection prevalent in member states deepens this effect. However, we do not find any significant effect of domestic public debt on the private sector borrowing cost. In addition, the results show significant effect of austerity measures on private financing cost, both in normal and in crisis period in the euro zone. In particular, one standard deviation change in fiscal consolidation conditional mean reduces the syndicated-loan spread by 22 bps. In turn, it indicates strong presence of credibility channel due to austerity measures in euro area region.

Keywords: corporate debt, fiscal consolidation, sovereign debt, syndicated-loan spread

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Authors: Mohammed Sani Abdulai

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Public sector budgeting, all over the world, is underpinned by some universally accepted principles of sound budget management such as budget unity, universality, annuality, and a balanced budget. These traditional principles, though fundamental, had, in recent years, been augmented by the more modern principles of budgeting within fiscal objective, alignment with medium-term strategic plans as well as the observance of such related concepts as transparency, openness and accessibility. In this paper, we have endeavored to shed light, from literature and practice, on the meaning and purposes of such fundamental budgeting principles. We have also assessed the extent to which the Government of Ghana’s budget complies with the four traditional principles of budget unity, universality, annuality, and a balanced budget and the three out of the ten modern principles of budgetary governance of Organisation for Economic Co-operation and Development (OECD). We did so by using a qualitative method of review and analysis of existing documents and the performance assessment reports on Ghana’s Public Financial Management (PFM) measured using such frameworks as the Public Expenditure and Financial Accountability (PEFA), the Open Budget Survey (OBS) and its Index (OBI), the reports and action plans of Open Government Partnership (OGP) and the Global Initiative for Fiscal Transparency (GIFT). Other performance assessment reports that were relied on included, but not limited to, the Joint Evaluation Report of PFM in Ghana, 2001-2010, and the Joint Evaluation of Budget Support to Ghana, 2005-2015. We have, through this paper, brought to the fore the lessons that could be learned on how those budgetary principles undergird the Government of Ghana’s budget formulation, execution, accounting, control, and oversight. These lessons include, but are not limited to, the need for both scholars and practitioners in the PFM space to be aware of the impact of those principles on public sector budgeting.

Keywords: annulaity, balanced budget, budget unity, budgetary principles, OECD’s principles on budgetary governance, open budget index, public expenditure and financial accountability, universality

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Authors: Mamoona Rasheed, Salman Iqbal, Muhammad Abdullah

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Organizational capability, in terms of employees’ knowledge is valuable, and difficult to reproduce; and help to build sustainable competitive advantages. Knowledge capability is linked with human resource (HR) practices of an organization. This paper investigates the relationship between HR practices, knowledge management and organization capability. In an organization, employees play key role for the effective organizational performance by sharing their knowledge with management and co-workers that contributes towards organization capability. Pakistan being a developing country has different HR practices and culture. The business opportunities give rise to the discussion about the effect of HR practices on knowledge management and organization capability as innovation performance. An empirical study is conducted through questionnaires form the employees in private banks of Lahore, Pakistan. The data is collected via structured questionnaire with a sample of 120 cases. Data is analyzed using Structure Equation Modeling (SEM), and results are depicted using AMOS software. Results of this study are tabulated, interpreted and crosschecked with other studies. Findings suggest that there is a positive relationship of training & development along with incentives on knowledge management. On the other hand, employee’s participation has insignificant association with knowledge management. In addition, knowledge management has also positive association with organization capability. In line with the previous research, it is suggested that knowledge management is important for improving the organizational capability such as innovation performance and knowledge capacity of firm. Organization capability may improve significantly once specific HR practices are properly established and implemented by HR managers. This Study has key implications for knowledge management and innovation fields theoretically and practically.

Keywords: employee participation, incentives, knowledge management, organization capability, training and development

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Authors: Narimen Rdhaounia Mohamed Kouni

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Our aim in this paper is to identify the origins of inflation in Tunisia on the period from 1988 to 2018. In order to estimate the model, an ARDL methodology is used. We studied also the effect of informal economy on inflation. Indeed, we estimated the size of the informal economy in Tunisia based on Gutmann method. The results showed that there are three main origins of inflation. In fact, the first origin is the fiscal policy adopted by Tunisia, particularly after revolution. The second origin is the increase of monetary variables. Finally, informal economy played an important role in inflation.

Keywords: inflation, consumer price index, informal, gutmann method, ARDL model

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Authors: Luc Beal

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Introduction. Among the stakeholders involved in the tourist decision-making process, the accommodation provider has the potential to play a crucial role in raising awareness, disseminating information, and thus influencing the tourists’ choice of transportation. Since the early days of tourism, the accommodation provider has consistently served as the primary point of contact with the destination, and consequently, as the primary source of information for visitors. By offering accommodation and hospitality, the accommodation provider has evolved into a trusted third party, functioning as an 'ambassador' capable of recommending the finest attractions and activities available at the destination. In contemporary times, when tourists plan their trips, they make a series of consecutive decisions, with the most important decision being to lock-in the accommodation reservation for the earliest days, so as to secure a safe arrival. Consequently, tourists place their trust in the accommodation provider not only for lodging but also for recommendations regarding restaurants, activities, and more. Thus, the latter has the opportunity to inform and influence tourists well in advance of their arrival, particularly during the booking phase, namely when it comes to selecting their mode of transportation. The pressing need to reduce greenhouse gas emissions within the tourism sector presents an opportunity to underscore the influence that accommodation providers have historically exerted on tourist decision-making . Methodology A participatory research, currently ongoing in south-western France, in collaboration with a nationwide hotel group and several destination management organizations, aims at examining the factors that determine the ability of accommodation providers to influence tourist transportation choices. Additionally, the research seeks to identify the conditions that motivate accommodation providers to assume a proactive role, such as fostering customer loyalty, reduced distribution costs, and financial compensation mechanisms. A panel of hotels participated in a series of focus group sessions with tourists, with the objective of modeling the decision-making process of tourists regarding their choice of transportation mode and to identify and quantify the types and levels of incentives liable to encourage environmentally responsible choices. Individual interviews were also conducted with hotel staff, including receptionists and guest relations officers, to develop a framework for interactions with tourists during crucial decision-making moments related to transportation choices. The primary finding of this research indicates that financial incentives significantly outweigh symbolic incentives in motivating tourists to opt for eco-friendly modes of transportation. Another noteworthy result underscores the crucial impact of organizational conditions governing interactions with tourists both before and during their stay. These conditions greatly influence the ability to raise awareness at key decision-making moments and the possibility of gathering data about the chosen transportation mode during the stay. In conclusion, this research has led to the formulation of practical recommendations for accommodation providers and Destination Marketing Organizations (DMOs). These recommendations pertain to communication protocols with tourists, the collection of evidences confirming chosen transportation modes, and the implementation of necessary incentives. Through these measures, accommodation provider can assume a central role in guiding tourists towards making responsible choices in terms of transportation.

Keywords: accommodation provider, trusted third party, environmentally-friendly transportation, green house gas, tourist decision-making process

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Authors: Abdelkader Guendouz, Fatima Zohra Adel

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Since about two decades, the Algerian government created a new instrument in the field of its fiscal policy, which is the FRR (Fonds de Régulation des Recettes). The FRR is a sovereign fund, which the initial role was saving the surplus generated by the fixation of a referential oil price to establish the state budget in the aim equilibrium between budgetary incomes and public expenditures. After a while, the government turns to use this instrument in boosting the public investment more than keeping for funding a deficit budget in periods of crisis. This lead to ask some justified questions about the efficiency of this sovereign fund and its real role.

Keywords: FRR sovereign fund, public expenditures, public investment, efficiency

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Authors: Ira Joseph

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The LNG paradox addresses the issue of how the most expensive form of gas supply, which is LNG, will grow in an end user market where demand is most competitive, which is power generation. In this case, LNG demand growth is under siege from two entirely different directions. At one end is price; it will be extremely difficult for gas to replace coal in Asia due to the low price of coal and the age of the generation plants. Asia's coal fleet, on average, is less than two decades old and will need significant financial incentives to retire before its state lifespan. While gas would cut emissions in half relative to coal, it would also more than double the price of the fuel source for power generation, which puts it in a precarious position. In most countries in Asia other than China, this cost increase, particularly from imports, is simply not realistic when it is also necessary to focus on economic growth and social welfare. On the other end, renewables are growing at an exponential rate for three reasons. One is that prices are dropping. Two is that policy incentives are driving deployment, and three is that China is forcing renewables infrastructure into the market to take a political seat at the global energy table with Saudi Arabia, the US, and Russia. Plus, more renewables will lower import growth of oil and gas in China, if not end it altogether. Renewables are the predator at the gate of gas demand in power generation and in every year that passes, renewables cut into demand growth projections for gas; in particular, the type of gas that is most expensive, which is LNG. Gas does have a role in the future, particularly within a domestic market. Once it crosses borders in the form of LNG or even pipeline gas, it quickly becomes a premium fuel and must be marketed and used this way. Our research shows that gas will be able to compete with batteries as an intermittency and storage tool and does offer a method to harmonize with renewables as part of the energy transition. As a baseload fuel, however, the role of gas, particularly, will be limited by cost once it needs to cross a border. Gas converted into blue or green hydrogen or ammonia is also an option for storage depending on the location. While this role is much reduced from the primary baseload role that gas once aspired to land, it still offers a credible option for decades to come.

Keywords: natural gas, LNG, demand, price, intermittency, storage, renewables

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Authors: P. Wongthongtham, K. Coutinho, A. MacCarthy

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Layer-One.X (L1X) blockchain provides the infrastructure layer, and decentralised applications can be created on the L1X infrastructure. L1X tokenomics are important and require a proportional balance between token distribution, nurturing user activity and engagement, and financial incentives. In this paper, we present research in progress on L1X tokenomics describing key concepts and implementations, including token velocity and value, incentive scheme, and broad distribution. Particularly the economic design of the native token of the L1X blockchain, called HeartBit (HB), is presented.

Keywords: tokenisation, layer one blockchain, interoperability, token distribution, L1X blockchain

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Authors: Amjad Ali Khan, Muhammad Ishaq Saqi, Kashif Ali

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The focus of hydrocarbon exploration in Pakistan has been primarily on conventional hydrocarbon resources. Directorate General Petroleum Concessions (DGPC) has taken the lead on the assessment of indigenous unconventional oil and gas resources, which has resulted in a ‘Shale Oil/Gas Resource Assessment Study’ conducted with the help of USAID. This was critically required in the energy-starved Pakistan, where the gap between indigenous oil & gas production and demand continues to widen for a long time. Exploration & exploitation of indigenous unconventional resources of Pakistan have become vital to meet our energy demand and reduction of oil and gas import bill of the country. This study has attempted to bridge a critical gap in geological information about the potential of shale gas & oil in Pakistan in the four formations, i.e., Sembar, Lower Goru, Ranikot and Ghazij in the Middle and Lower Indus Basins, which were selected for the study as for resource assessment for shale gas & oil. The primary objective of the study was to estimate and establish shale oil/gas resource assessment of the study area by carrying out extensive geological analysis of exploration, appraisal and development wells drilled in the Middle and Lower Indus Basins, along with identification of fairway(s) and sweet spots in the study area. The Study covers the Lower parts of the Middle Indus basins located in Sindh, southern Punjab & eastern parts of the Baluchistan provinces, with a total sedimentary area of 271,795 km2. Initially, 1611 wells were reviewed, including 1324 wells drilled through different shale formations. Based on the availability of required technical data, a detailed petrophysical analysis of 124 wells (21 Confidential & 103 in the public domain) has been conducted for the shale gas/oil potential of the above-referred formations. The core & cuttings samples of 32 wells and 33 geochemical reports of prospective Shale Formations were available, which were analyzed to calibrate the results of petrophysical analysis with petrographic/ laboratory analyses to increase the credibility of the Shale Gas Resource assessment. This study has identified the most prospective intervals, mainly in Sembar and Lower Goru Formations, for shale gas/oil exploration in the Middle and Lower Indus Basins of Pakistan. The study recommends seven (07) sweet spots for undertaking pilot projects, which will enable to evaluate of the actual production capability and production sustainability of shale oil/gas reservoirs of Pakistan for formulating future strategies to explore and exploit shale/oil resources of Pakistan including fiscal incentives required for developing shale oil/gas resources of Pakistan. Some E&P Companies are being persuaded to make a consortium for undertaking pilot projects that have shown their willingness to participate in the pilot project at appropriate times. The location for undertaking the pilot project has been finalized as a result of a series of technical sessions by geoscientists of the potential consortium members after the review and evaluation of available studies.

Keywords: conventional resources, petrographic analysis, petrophysical analysis, unconventional resources, shale gas & oil, sweet spots

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Authors: Alain Villemeur

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The relationships between the profit share in income on the one hand and the growth rates of output and employment on the other hand have been studied for 17 advanced economies since 1961. The vast majority (98%) of annual values for the profit share fall between 20% and 40%, with an average value of 33.9%. For the 17 advanced economies, Gross Domestic Product and productivity growth rates tend to fall as the profit share in income rises. For the employment growth rates, the relationships are complex; nevertheless, over long periods (1961-2000), it appears that the more job-creating economies are Australia, Canada, and the United States; they have experienced a profit share close to 1/3. This raises a number of questions, not least the value of 1/3 for the profit share and its role in macroeconomic fundamentals. To explain these facts, an endogenous growth model is developed. This growth and distribution model reconciles the great ideas of Kaldor (economic growth as a chain reaction), of Keynes (effective demand and marginal efficiency of capital) and of Ricardo (importance of the wage-profit distribution) in an economy facing creative destruction. A production function is obtained, depending mainly on the growth of employment, the rate of net investment and the profit share in income. In theory, we show the existence of incentives: an incentive for job creation when the profit share is less than 1/3 and another incentive for job destruction in the opposite case. Thus, increasing the profit share can boost the employment growth rate until it reaches the value of 1/3; otherwise lowers the employment growth rate. Three key findings can be drawn from these considerations. The first reveals that the best GDP and productivity growth rates are obtained with a profit share of less than 1/3. The second is that maximum job growth is associated with a 1/3 profit share, given the existence of incentives to create more jobs when the profit share is less than 1/3 or to destroy more jobs otherwise. The third is the decline in performance (GDP growth rate and productivity growth rate) when the profit share increases. In conclusion, increasing the profit share in income weakens GDP growth or productivity growth as a long-term trend, contrary to the trickle-down hypothesis. The employment growth rate is maximum for a profit share in income of 1/3. All these lessons suggest macroeconomic policies considering the profit share in income.

Keywords: advanced countries, GDP growth, employment growth, profit share, economic policies

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Authors: Marriette Sakah, Samuel Gyamfi, Morkporkpor Delight Sedzro, Christoph Kuhn

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Ghana is experiencing rapid economic development and its cities command an increasingly dominant role as centers of both production and consumption. Cities run on energy and are extremely vulnerable to energy scarcity, energy price escalations and health impacts of very poor air quality. The overriding concern in Ghana and other West African states is bridging the gap between energy demand and supply. Energy efficiency presents a cost-effective solution for supply challenges by enabling more coverage with current power supply levels and reducing the need for investment in additional generation capacity and grid infrastructure. In Ghana, major issues for energy policy formulation in residential applications include lack of disaggregated electrical energy consumption data and lack of thorough understanding with regards to socio-economic influences on energy efficiency investment. This study uses a bottom up approach to estimate baseline electricity end-use as well as the energy consumption of best available technologies to enable estimation of energy-efficiency resource in terms of relative reduction in total energy use for Tema city, Ghana. A ground survey was conducted to assess the probable consumer behavior in response to energy efficiency initiatives to enable estimation of the amount of savings that would occur in response to specific policy interventions with regards to funding and incentives provision targeted at households. Results show that 16% - 54% reduction in annual electricity consumption is reasonably achievable depending on the level of incentives provision. The saved energy could supply 10000 - 34000 additional households if the added households use only best available technology. Political support and consumer awareness are necessary to translate energy efficiency resources into real energy savings.

Keywords: achievable energy savings, energy efficiency, Ghana, household appliances

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Authors: Janaina Camile Pasqual Lofhagen, David Savarese, Veronika Vazhnik

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The urgency of the climate crisis requires both innovation and practicality. The energy transition framework allows industry to deliver resilient cities, enhance adaptability to change, pursue energy objectives such as growth or efficiencies, and increase renewable energy. This paper investigates a real-world application perspective for the use of biogas in Brazil and the U.S.. It will examine interventions to provide a foundation of infrastructure, as well as the tangible benefits for policy-makers crafting law and providing incentives.

Keywords: resilience, vulnerability, risks, biogas, sustainability.

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Authors: Massimo Ferrari, Maria Sole Pagliari

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Pollution is a classic example of economic externality: agents who produce it do not face direct costs from emissions. Therefore, there are no direct economic incentives for reducing pollution. One way to address this market failure would be directly taxing emissions. However, because emissions are global, governments might as well find it optimal to wait let foreign countries to tax emissions so that they can enjoy the benefits of lower pollution without facing its direct costs. In this paper, we first document the empirical relation between pollution and economic output with static and dynamic regression methods. We show that there is a negative relation between aggregate output and the stock of pollution (measured as the stock of CO₂ emissions). This relationship is also highly non-linear, increasing at an exponential rate. In the second part of the paper, we develop and estimate a two-country, two-sector model for the US and the euro area. With this model, we aim at analyzing how the public sector should respond to higher emissions and what are the direct costs that these policies might have. In the model, there are two types of firms, brown firms (which produce a polluting technology) and green firms. Brown firms also produce an externality, CO₂ emissions, which has detrimental effects on aggregate output. As brown firms do not face direct costs from polluting, they do not have incentives to reduce emissions. Notably, emissions in our model are global: the stock of CO₂ in the economy affects all countries, independently from where it is produced. This simplified economy captures the main trade-off between emissions and production, generating a classic market failure. According to our results, the current level of emission reduces output by between 0.4 and 0.75%. Notably, these estimates lay in the upper bound of the distribution of those delivered by studies in the early 2000s. To address market failure, governments should step in introducing taxes on emissions. With the tax, brown firms pay a cost for polluting hence facing the incentive to move to green technologies. Governments, however, might also adopt a beggar-thy-neighbour strategy. Reducing emissions is costly, as moves production away from the 'optimal' production mix of brown and green technology. Because emissions are global, a government could just wait for the other country to tackle climate change, ripping the benefits without facing any costs. We study how this strategic game unfolds and show three important results: first, cooperation is first-best optimal from a global prospective; second, countries face incentives to deviate from the cooperating equilibria; third, tariffs on imported brown goods (the only retaliation policy in case of deviation from the cooperation equilibrium) are ineffective because the exchange rate would move to compensate. We finally study monetary policy under when costs for climate change rise and show that the monetary authority should react stronger to deviations of inflation from its target.

Keywords: climate change, general equilibrium, optimal taxation, monetary policy

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Authors: Tingyu Zhang

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The horizontal ecological compensation (HEC) mechanism is the key to stimulating the active participation of the whole basin in ecological protection. In this paper, we construct an evolutionary model for HEC in the Yangtze River Economic Belt (YREB) basin with the introduction of the central government constraint and incentive mechanism (CGCIM) and explore the conditions for the realization of a (Protection and compensation) strategy that meets the social expectations. Further, the water quality-water quantity model is utilized to measure the HEC amount with the characteristic factual data of the YREB in 2020-2022. The results show that the stability of the evolutionary game model of upstream and downstream governments in the YREB is closely related to the CGCIM. If (Protection Compensation) is to be realized as the only evolutionary stable strategy of the evolutionary game system composed of upstream and downstream governments, it is necessary for the CGCIM to satisfy that the sum of the incentives for the protection side and its unilateral or bilateral constraints is greater than twice the input cost of the active strategy, and the sum of the incentives for the compensation side and its unilateral or bilateral constraints is greater than the amount of ecological compensation that needs to be paid by it when it adopts the active strategy. At this point, the total amount of HEC that the downstream government should give to the upstream government of the YREB is 2856.7 million yuan in 2020, 5782.1 million yuan in 2021, and 23166.7 million yuan in 2022. The results of the study can provide a reference for promoting the improvement and refinement of the HEC mechanism in the YREB.

Keywords: horizontal ecological compensation, Yangtze river economic belt, evolutionary game analysis, water quality and quantity model research on territorial ecological restoration in Mianzhu city, Sichuan, under the dual evaluation framework

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Authors: Guannan Ren, Thomas Mazzuchi, Shahram Sarkani

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Electric vehicle battery recycling has emerged as a critical process in the transition toward sustainable transportation. As the demand for electric vehicles continues to rise, so does the need to address the end-of-life management of their batteries. Electric vehicle battery recycling benefits resource recovery and supply chain stability by reclaiming valuable metals like lithium, cobalt, nickel, and graphite. The reclaimed materials can then be reintroduced into the battery manufacturing process, reducing the reliance on raw material extraction and the environmental impacts of waste. Current battery recycling rates are insufficient to meet the growing demands for raw materials. While significant progress has been made in electric vehicle battery recycling, many areas can still improve. Standardization of battery designs, increased collection and recycling infrastructures, and improved efficiency in recycling processes are essential for scaling up recycling efforts and maximizing material recovery. This work delves into key factors, such as regulatory frameworks, economic incentives, and technological processes, that influence the cost-effectiveness and efficiency of battery recycling systems. A system dynamics model that considers variables such as battery production rates, demand and price fluctuations, recycling infrastructure capacity, and the effectiveness of recycling processes is created to study how these variables are interconnected, forming feedback loops that affect the overall supply chain efficiency. Such a model can also help simulate the effects of stricter regulations on battery disposal, incentives for recycling, or investments in research and development for battery designs and advanced recycling technologies. By using the developed model, policymakers, industry stakeholders, and researchers may gain insights into the effects of applying different policies or process updates on electric vehicle battery recycling rates.

Keywords: environmental engineering, modeling and simulation, circular economy, sustainability, transportation science, policy

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Authors: Kherbache Radhwane

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This study is concerned with the nature of the strategy of agricultural and rural development, through the fiscal policy adopted by the government throughout programs included in the general budget of the state represented in the national program of agricultural and rural development. This study concluded that the general balance play an important role in the design of the strategy of agricultural and rural development despite the numerous problems clear in the result of the precedent plans of agricultural and rural development. Based on that we suggest that more importance should be accorded to the agricultural and rural field and that it should be one among economic alternatives to the collection of petroleum, as the countryside is the future.

Keywords: general balance, political economy, strategy of agricultural and rural development, economic alternatives, collection of petroleum

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Authors: Megumi Nishida, Naoya Motegi, Takurou Kikuchi, Tomoko Tokumura

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In recent years, power system has been changed and flexible power pricing system such as demand response has been sought in Japan. The demand response system is simple in the household sector and the owner, decision-maker, can gain the benefits of power saving. On the other hand, the execution of the demand response in the office building is more complex than household because various people such as owners, building administrators and occupants are involved in making decisions. While the owners benefit from the demand saving, the occupants are forced to be exposed to demand-saved environment certain benefits. One of the reasons is that building systems are usually centralized control and each occupant cannot choose either participate demand response event or not, and contribution of each occupant to demand response is unclear to provide incentives. However, the recent development of IT and building systems enables the personalized control of office environment where each occupant can control the lighting level or temperature around him or herself. Therefore, it can be possible to have a system which each occupant can make a decision of demand response participation in office building. This study investigates the personal behavior upon demand response requests, under the condition where each occupant can adjust their brightness individually in their workspace. Once workers participate in the demand response, their task lights are automatically turned off. The participation rates in the demand response events are compared between four groups which are divided by different motivation, the presence or absence of incentives and the way of participation. The result shows that there are the significant differences of participation rates in demand response event between four groups. The way of participation has a large effect on the participation rate. ‘Opt-out’ group, where the occupants are automatically enrolled in a demand response event if they don't express non-participation, will have the highest participation rate in the four groups. The incentive has also an effect on the participation rate. This study also reports that the impact of low illumination office environment on the occupants, such as stress or fatigue. The electrocardiogram and the questionnaire are used to investigate the autonomic nervous activity and subjective symptoms about the fatigue of the occupants. There is no big difference between dim workspace during demand response event and bright workspace in autonomic nervous activity and fatigue.

Keywords: demand response, illumination, questionnaire, electrocardiogram

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Authors: Maria Tsouroufli, Andrea Mondokova, Subashini Suresh

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Background: The under-representation of women and consequent failure to fulfil their potential contribution to Science, Technology, Engineering, Maths, and Medicine (STEMM) subjects in the UK is an issue that the Higher Education sector is being encouraged to address. Focus: The aim of this research is to investigate the barriers, facilitators, and incentives that influence diverse groups of women who have embarked upon a related career in STEMM subjects. The project will address a number of interconnected research questions: 1. How do participants perceive the barriers, facilitators and incentives for women in terms of research, teaching and management/leadership at each stage of their development towards forging a career in STEMM? 2. How might gender intersect with ethnicity, pregnancy/maternity and academic grade in the career experiences of women in STEMM? 3. How do participants perceive the example of female role models in emulating them as a career model? 4. How do successful females in STEMM see themselves as role models and what strategies do they employ to promote their careers? 5. How does institutional culture manifest itself as a barrier or facilitator for women in STEMM subjects in the institution? Methodology and Theoretical framework: A mixed-methodology will be employed in a case study of one university. The study will draw on extant quantitative data for context and involve conducting a qualitative inquiry to discover the perceptions of staff and students around the key concepts under study (career progression, sense of belonging and tenure, role-models, personal satisfaction, perceived gender in/equality, institutional culture). The analysis will be informed by an intersectionality framework, feminist and gender theory, and organisational psychology and human resource management perspectives. Implications: Preliminary findings will be collected in 2017. Conclusions will be drawn and used to inform recruitment and retention, and the development and implementation of initiatives to enhance the experiences and outcomes of women working and studying in STEMM subjects in Higher Education.

Keywords: under-representation, women, STEMM subjects, intersectionality

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Authors: Teboho J. Mosikari, Johannes T. Tsoku, Diteboho L. Xaba

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The increase of capital mobility across emerging economies has become an interesting topic for many economic policy makers. The current study tests the validity of Feldstein–Horioka puzzle for 5 BRICS countries. The sample period of the study runs from 2001 to 2014. The study uses the following parameter estimates well known as the Fully Modified OLS (FMOLS), and Dynamic OLS (DOLS). The results of the study show that investment and savings are cointegrated in the long run. The parameters estimated using FMOLS and DOLS are 0.85 and 0.74, respectively. These results imply that policy makers within BRICS countries have to consider flexible monetary and fiscal policy instruments to influence the mobility of capital with the bloc.

Keywords: Feldstein and Horioka puzzle, saving and investment, panel models, BRICS countries

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Authors: Philemon Rakoto

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This paper tests the improvement of financial reporting quality when firms award stock options to their executives. The originality of this study is that we introduce the moderating effect of business ethics in the model. The sample is made up of 116 Canadian high-technology firms with available data for the fiscal year ending in 2012. We define the quality of financial reporting as the value relevance of accounting information as developed by Ohlson. Our results show that executive stock option award alone does not improve the quality of financial reporting. Rather, the quality improves when a firm awards stock options to its executives and investors perceive that the level of business ethics in that firm is high.

Keywords: business ethics, Canada, high-tech firms, stock options, value relevance

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Authors: Peter J. Robinson, W. J. Wouter Botzen

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Individuals often over-weight low probabilities and under-weight moderate to high probabilities, however very low probabilities are either significantly over-weighted or neglected. Little is known about factors affecting probability weighting in Prospect Theory related to emotions specific to risk (anticipatory and anticipated emotions), the threshold of concern, as well as personality traits like locus of control. This study provides these insights by examining factors that influence probability weighting in the context of flood insurance demand in an economic experiment. In particular, we focus on determinants of flood probability neglect to provide recommendations for improved risk management. In addition, results obtained using real incentives and no performance-based payments are compared in the experiment with high experimental outcomes. Based on data collected from 1’041 Dutch homeowners, we find that: flood probability neglect is related to anticipated regret, worry and the threshold of concern. Moreover, locus of control and regret affect probabilistic pessimism. Nevertheless, we do not observe strong evidence that incentives influence flood probability neglect nor probability weighting. The results show that low, moderate and high flood probabilities are under-weighted, which is related to framing in the flooding context and the degree of realism respondents attach to high probability property damages. We suggest several policies to overcome psychological factors related to under-weighting flood probabilities to improve flood preparations. These include policies that promote better risk communication to enhance insurance decisions for individuals with a high threshold of concern, and education and information provision to change the behaviour of internal locus of control types as well as people who see insurance as an investment. Multi-year flood insurance may also prevent short-sighted behaviour of people who have a tendency to regret paying for insurance. Moreover, bundling low-probability/high-impact risks with more immediate risks may achieve an overall covered risk which is less likely to be judged as falling below thresholds of concern. These measures could aid the development of a flood insurance market in the Netherlands for which we find to be demand.

Keywords: flood insurance demand, prospect theory, risk perceptions, risk preferences

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Authors: Reinhard Neck, Guido Schäfer

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In this paper, we explore the macroeconomic effects of the European Single Market on Austria by simulating the McKibbin-Sachs Global Model. Global interdependence and the impact of long-run effects on short-run adjustments are taken into account. We study the sensitivity of the results with respect to different assumptions concerning monetary and fiscal policies for the countries and regions of the world economy. The consequences of different assumptions about budgetary policies in Austria are also investigated. The simulation results are contrasted with ex-post evaluations of the actual impact of Austria’s membership in the Single Market. As a result, it can be concluded that the Austrian participation in the European Single Market entails considerable long-run gains for the Austrian economy with nearly no adverse side-effects on any macroeconomic target variable.

Keywords: macroeconomics, European Union, simulation, sensitivity analysis

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Authors: John E. Boberg, Steven J. Bourgeois

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The decline in student engagement and motivation through the middle years is well documented and clearly associated with a decline in mathematics achievement that persists through high school. To combat this trend and, very often, to meet high-stakes accountability standards, a growing number of parents, teachers, and schools have implemented various methods to incentivize learning. However, according to Self-Determination Theory, forms of incentivized learning such as public praise, tangible rewards, or threats of punishment tend to undermine intrinsic motivation and learning. By focusing on external forms of motivation that thwart autonomy in children, adults also potentially threaten relatedness measures such as trust and emotional engagement. Furthermore, these controlling motivational techniques tend to promote shallow forms of cognitive engagement at the expense of more effective deep processing strategies. Therefore, any short-term gains in apparent engagement or test scores are overshadowed by long-term diminished motivation, resulting in inauthentic approaches to learning and lower achievement. The current study focuses on the relationships between student trust, engagement, and motivation during these crucial years as students transition from elementary to middle school. In order to test the effects of controlled motivational techniques on achievement in mathematics, this quantitative study was conducted on a convenience sample of 22 elementary and middle schools from a single public charter school district in the south-central United States. The study employed multi-source data from students (N = 1,054), parents (N = 7,166), and teachers (N = 356), along with student achievement data and contextual campus variables. Cross-sectional questionnaires were used to measure the students’ self-regulated learning, emotional and cognitive engagement, and trust in teachers. Parents responded to a single item on incentivizing the academic performance of their child, and teachers responded to a series of questions about their acceptance of various incentive strategies. Structural equation modeling (SEM) was used to evaluate model fit and analyze the direct and indirect effects of the predictor variables on achievement. Although a student’s trust in teacher positively predicted both emotional and cognitive engagement, none of these three predictors accounted for any variance in achievement in mathematics. The parents’ use of incentives, on the other hand, predicted a student’s perception of his or her controlled motivation, and these two variables had significant negative effects on achievement. While controlled motivation had the greatest effects on achievement, parental incentives demonstrated both direct and indirect effects on achievement through the students’ self-reported controlled motivation. Comparing upper elementary student data with middle-school student data revealed that controlling forms of motivation may be taking their toll on student trust and engagement over time. While parental incentives positively predicted both cognitive and emotional engagement in the younger sub-group, such forms of controlling motivation negatively predicted both trust in teachers and emotional engagement in the middle-school sub-group. These findings support the claims, posited by Self-Determination Theory, about the dangers of incentivizing learning. Short-term gains belie the underlying damage to motivational processes that lead to decreased intrinsic motivation and achievement. Such practices also appear to thwart basic human needs such as relatedness.

Keywords: controlled motivation, student engagement, incentivized learning, mathematics achievement, self-determination theory, student trust

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Authors: J. Trarbach, S. Schosser, B. Vogt

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Decision-makers tend to prefer the first alternative over subsequent alternatives which is called the primacy effect. To reliably measure this effect, we conducted an experiment with real consequences for preference statements. Therefore, we elicit preferences of subjects using a rating scale, i.e. hypothetical preferences, and willingness to pay, i.e. real preferences, for two sequences of pain. Within these sequences, both overall intensity and duration of pain are identical. Hence, a rational decision-maker should be indifferent, whereas the primacy effect predicts a stronger preference for the first sequence. What we see is a primacy effect only for hypothetical preferences. This effect vanishes for real preferences.

Keywords: decision making, primacy effect, real incentives, willingness to pay

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Authors: Abdurrahman Karacabey

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Threat paradigm has shifted throughout the history. Considering conjuncture of our time, a major threat for humanity is terrorism. Although variety of reasons are influential, financial, and human resources are the vital needs for terrorist groups. It is known that terrorism is a significant term while taking decisions in diplomatic, politic, and military issues. Even though the methods to provide resources for terrorism are quite similar, there are still some differences for deterrent terrorist groups being active in various regions of the globe. Due to social and psychological reasons activists have generally similar excuses to join terrorist groups.At the same time, terrorists’ fiscal activities to secure permanence of terrorism, occupy the politics of the countries. Besides, preventive actions are expensive creating huge burdens in host nation’s economy. This paper elaborates on how ISIS is providing human and economic resources, course of actions to overcome ISIS is on the agenda of all countries.

Keywords: financial resources, human resources, isis, terrorism

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Authors: João Pereira Dos Santos

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The uneven spatial distribution of start-ups and their respective survival may reflect comparative advantages resulting from the local institutional background. For the first time, we explore this idea using Data Envelopment Analysis (DEA) to assess relative efficiency of Portuguese municipalities in this specific context. We depart from the related literature where expenditure is perceived as a desirable input by choosing a measure of fiscal responsibility and infrastructural variables in the first stage. Comparing results for 2006 and 2010, we find that mean performance decreased substantially with 1) the effects of the Global Financial Crisis; 2) as municipal population increases and 3) as financial independence decreases. A second stage is then computed employing a double-bootstrap procedure to evaluate how the regional context outside the control of local authorities (e.g. demographic characteristics and political preferences) impacts on efficiency.

Keywords: entrepreneurship, political economy, public finance, accountability, crisis, efficiency, Portuguese municipalities

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Authors: Maruska Vizek, Josip Glaurdic, Marina Tkalec, Goran Vuksic

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We empirically explore whether and how taxation affects bilateral real exchange rates in the euro area – relative unit labor costs and relative consumer price indices. We find that employers’ social security contributions and the value added tax changes have the expected effects put forward in the fiscal devaluation literature and simulations. Increases in employers’ contributions appreciate the relative unit labor costs in the short- and the long-run, while value added tax hike appreciates the relative consumer prices. Somewhat surprisingly, for personal income tax increases, we find a short-run depreciating impact on the relative unit labor costs, while increases in employees’ contributions depreciate both measures of real exchange rates in the short-run.

Keywords: sovereign bonds, European Union, developing countries, political determinants

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Authors: Gikunda Aloise, Mjema Saida, Barasa Herbert, Wanyungu John, Kimani Maureen

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Background: Community Health Workforce (CHW) is health care providers at the community level (Level 1) and serves as a bridge between the community and the formal healthcare system. This human resource has enormous potential to extend healthcare services and ensures that the vulnerable, marginalized, and hard-to-reach populations have access to quality healthcare services at the community and primary health facility levels. However, these cadres are neither recognized, remunerated, nor in most instances, registered in a master list. Management and supervision of CHWs is not easy if their individual demographics, training capacity and incentives is not well documented through a centralized registry. Description: In February 2022, Amref supported the Kenya Ministry of Health in developing a community health workforce database called Community Health Workers Master List Registry (CHWML), which is hosted in Kenya Health Information System (KHIS) tracker. CHW registration exercise was through a sensitization meeting conducted by the County Community Health Focal Person for the Sub-County Community Health Focal Person and Community Health Assistants who uploaded information on individual demographics, training undertaken and incentives received by CHVs. Care was taken to ensure compliance with Kenyan laws on the availability and use of personal data as prescribed by the Data Protection Act, 2019 (DPA). Results and lessons learnt: By June 2022, 80,825 CHWs had been registered in the system; 78,174 (96%) CHVs and 2,636 (4%) CHAs. 25,235 (31%) are male, 55,505 (68%) are female & 85 (1%) are transgender. 39,979. (49%) had secondary education and 2500 (3%) had no formal education. Only 27 641 (34%) received a monthly stipend. 68,436 CHVs (85%) had undergone basic training. However, there is a need to validate the data to align with the current situation in the counties. Conclusions/Next steps: The use of CHWML will unlock opportunities for building more resilient and sustainable health systems and inform financial planning, resource allocation, capacity development, and quality service delivery. The MOH will update the CHWML guidelines in adherence to the data protection act which will inform standard procedures for maintaining, updating the registry and integrate Community Health Workforce registry with the HRH system.

Keywords: community health registry, community health volunteers (CHVs), community health workers masters list (CHWML), data protection act

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Authors: Atabong Awung Lekeazem

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The purpose of this paper is to identify the impact or role of incentives on employee’s performance with a particular emphasis on Korean workers. The process involves defining and explaining the different types of motivation. In defining them, we also bring out the difference between the two major types of motivations. The second phase of the paper shall involve gathering data/information from a sample population and then analyzing the data. In the analysis, we shall get to see the almost similar mentality or value which Koreans attach to motivation, which a slide different view coming only from top management personnel. The last phase shall have us presenting the data and coming to a conclusion from which possible knowledge on how managers and potential managers can ignite the best out of their employees.

Keywords: motivation, employee’s performance, Korean workers, business information systems

Procedia PDF Downloads 389