Search results for: economic system justification

Authors: Elona Saliaj

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The registration of real estate in Albania after the 90's has been a long process in time and with high cost for the country. Passing the registration system from a centralized system to a free market private system, it’s accompanied by legal uncertainties that have led to economic instability. The reforms that have been undertaken in terms of property rights have been numerous and continuous throughout the years. But despite the reforms, the system of registration of real estate, has failed to be standards requirements established by the European Union. The completion of initial registration of real estate, legal treatment of previous owners or legalization of illegal constructions remain among the main problems that prevent the development of the country in its economic sector. The performance of the registration of real estate system and dealing with issues that have appeared in the Court of First Instance, the civil section of the Albanian constitute the core of handling this analysis. This paper presents a detailed analysis on the registration system that is chosen to be applied in our country for real estate. In its content it is also determined the institution that administrates these properties, the management technique and the law that determinate its functionality. The strategy is determined for creating a modern and functional registration system and for the country remains a challenge to achieve. Identifying practical problems and providing their solutions are also the focus of reference in order to improve and modernize this important system to a state law that aims to become a member of the European Union.

Keywords: real estates registration system, comparative aspects, cadastral area, property certificate, legal reform

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Authors: S. Khalifa, R. Chkoundali

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The specific role of banks in economic development varies, depending on scope. Firstly, the participation of banks in economic development focus around providing credit and services to generate revenues, which are then invested back into a local, national or international community. The specific roles banks play in the economic development of a small community differ from the role banks play in national or international economic development. Although the role can vary, factors such as access to credit and bank investment policies or practices remain constant, no matter the scope of economic development. This paper provides an overview of the economic situation of Africa and its short-term outlook. He referred to the progress made in the implementation of the Medium-Term Strategy (2008-2012) and some major achievements of the Bank, as the speed and flexibility with which she responded to the oil crisis, food and financial.

Keywords: economic growth, bank, Africa, economic development

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Authors: Tshilenge Kabongo, John Kabuba

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The distillery wastewater has become major issues in sanitation sectors. One of the solutions to overcome this sewage is to install the Wastewater Treatment Plant. Economic analysis is fundamentally required for its viability. Integrated anaerobic digestion and advanced oxidation (AD-AOP) in the treatment of distillery wastewater (DWW), anaerobic digestion achieved sufficient biochemical oxygen demand (BOD) and chemical oxygen demand (COD) removals of 95% and 75%, respectively, and methane production of 0.292 L/g COD removed at an organic loading rate of 15 kg COD/m3/d. However, a considerable amount of biorecalcitrant compounds still existed in the anaerobically treated effluent, contributing to a residual COD of 4.5 g/L and an intense dark brown color. To remove the biorecalcitrant color and COD, ozonation, which is an AOP, was introduced as a post-treatment method to AD. Ozonation is a highly competitive treatment technique that can be easily applied to remove the biorecalcitrant compounds, including color, and turbidity. In the ozonation process carried out for an hour, more than 80% of the color was removed at an ozone dose of 45 mg O3/L/min (corresponding to 1.8 g O3/g COD). Thus, integrating AD with the AOP can be effective for organic load and color reductions during the treatment of DWW. The deliverable established the best configuration of the AD-AOP system, where DWW is first subjected to AD followed by AOP post-treatment. However, for establishing the feasibility of the industrial application of the integrated system, it is necessary to carry out the economic analysis. This may help the starting point of the wastewater treatment plant construction and its operation and maintenance costs.

Keywords: distillery wastewater, economic analysis, integrated anaerobic digestion, ozonolysis, treatment

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Authors: S. P. Koko, K. Kusakana, H. J. Vermaak

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Standalone micro-hydrokinetic river (MHR) system is one of the promising technologies to be used for remote rural electrification. It simply requires the flow of water instead of elevation or head, leading to expensive civil works. This paper demonstrates an economic benefit offered by a standalone MHR system when compared to the commonly used standalone systems such as solar, wind and diesel generator (DG) at the selected study site in Kwazulu Natal. Wind speed and solar radiation data of the selected rural site have been taken from national aeronautics and space administration (NASA) surface meteorology database. The hybrid optimization model for electric renewable (HOMER) software was used to determine the most feasible solution when using MHR, solar, wind or DG system to supply 5 rural houses. MHR system proved to be the best cost-effective option to consider at the study site due to its low cost of energy (COE) and low net present cost (NPC).

Keywords: economic analysis, micro-hydrokinetic, rural-electrification, cost of energy (COE), net present cost (NPC)

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Authors: Selin Guney, Andres Riquelme

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The traditional bio-economic method for fisheries modeling uses some estimate of the growth parameters and the system carrying capacity from a biological model for the population dynamics (usually a logistic population growth model) which is then analyzed as a traditional production function. The stock dynamic is transformed into a revenue function and then compared with the extraction costs to estimate the maximum economic yield. In this paper, the logistic population growth model for the population is combined with a forecast of the abundance and location of the stock by using a generalized additive model approach. The paper focuses on the Chilean hake population. This method allows for the incorporation of climatic variables and the interaction with other marine species, which in turn will increase the reliability of the estimates and generate better extraction paths for different conservation objectives, such as the maximum biological yield or the maximum economic yield.

Keywords: bio-economic, fisheries, GAM, production

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

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

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

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Authors: Che-An Lin, Wan-Ying Tsai, Ying-Shin Chen, Yu-Jen Chung

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With the number and area of contaminated sites continued to increase in Taiwan, the Government have to make a priority list of screening contaminated sites under the limited funds and information. This study investigated the announcement of Taiwan EPA land 261 contaminated sites (except the agricultural lands), after preliminary screening 211 valid data to propose a screening system, removed contaminated sites were used to check the accuracy. This system including two dimensions which can create the sequence and use the XY axis to construct four quadrants. One dimension included environmental and social priority and the other related economic. All of the evaluated items included population density, land values, traffic hub, pollutant compound, pollutant concentrations, pollutant transport pathways, land usage sites, site areas, and water conductivity. The classification results of this screening are 1. Prioritization promoting sites (10%). 2. Environmental and social priority of the sites (17%), 3. Economic priority of the sites (30%), 4. Non-priority sites (43 %). Finally, this study used three of the removed contaminated sites to check screening system verification. As the surmise each of them are in line with the priority site and Economic priority of the site.

Keywords: contaminated sites, redevelopment, environmental, economics

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Authors: Fatemeh Noughani, Seyd Mehdi Sadat

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Violence against women as a global problem is not confined to any geographical and cultural area. The thoughts and opinions propagating the violence are seen in many cultural beliefs of societies. However, the shape, type and nature of it is different in different cultures. Also, many Iranian women have experienced different dimensions of domestic violence in their lives. This experience may vary with the family economic situation and poverty. Therefore, this research had studied the effects of family economic situation (poverty) on the increase of domestic violence against women. The sample of this study includes 126 married women older than 8 years old and they were selected by stratified and quota sampling method. The results showed that there is a direct and significant between the family economic situation and employment situation of women and domestic violence against women. More precisely, having economic capital, financial ability, affects the couple’s relationship and will solve their many social problems and perhaps, it seem that in terms of economic violence, the men who have higher economic capital, exert the lowest level of economic violence against their wives.

Keywords: economic situation , domestic violence, poverty, Iran

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Authors: Hayati Sari Hasibuan, Tresna P. Soemardi, Raldi H. Koestoer, Setyo S. Moersidik

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Facing the severe transportation system in daily basis, the government of Indonesia were searching an alternative solution to combat the acute traffic jam and the socio-economic negative effects and pollutions resulted. Transit-oriented development as a strategy in reformulating and restructuring of the urban land uses as well as the transport system will be implemented in many urban areas in Indonesia, especially in Jabodetabek. Jabodetabek is the greatest metropolitan area in Indonesia with 27.9 million inhabitants. The Jabodetabek is also the center of economic activity with gross domestic product around 22 percent of gross national product. This study aims to assess the potential of economic development and community change effects with implementing the transit oriented development. This study found that using transit oriented development as an alternative approach in reconstructing of urban land uses in metropolitan region will effect to the behaviour of urban mobilities, the housing choices, and the cost of transportation. The sustainable of socio-economic aspects resulting from the transit oriented development is the main focus of this paper. The challenge here is to explore the characteristics of transit oriented development that suitable for metropolitan region in developing country,which considering the uniqueness of nature and socio-cultural that shapes this urban.

Keywords: economic development, community change, restructuring, land use, transportation, environment

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Authors: Fekri Shawtari

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

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

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Authors: Md Abu Saieed

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Crafting and implementing public policy is one of the indispensable works in any form of state and government. But the policy objectives, methods of formulation and tools of implementation might be different based on the ideological nature, historical legacy, structure and capacity of administration and management and other push and factors. Public policy in Islamic economic system needs to be based on the key guidelines of divine scriptures along with other sources of sharia’h. As a representative of Allah (SWT), the governor and other apparatus of the state will formulate and implement public policies which will enable to establish a true welfare state based on justice, equity and equality. The whole life of Prophet Muhammad (pbuh) and his policy in operating state of affairs in Madina is the practical guidelines for the policy actors and professionals in Islamic system of economics. Moreover, policy makers need to be more meticulous in formulating Islamic public policy which meets the needs and demands of contemporary worlds as well.

Keywords: formulation, Islam, public policy, policy factors, Sharia’h

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Authors: Linto Francis Kallukulangara

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Although the Catholic and Reformed traditions share a common baptismal heritage, they differe considerably in their epistemic stance on whether a believer can legitimatly subscribe to a proposition of Christian Revelation without any evidence. Catholic tradition, which is essentially rooted in the internalist epistemology, posits that a theistic belief must be substantiated by a rational ground that is cognitively accessible to the believer. In contrast, Reformed thinkers have historically maintained a non-evidentialist stance, which has received strong criticism, including allegations of irrationality. However, recent developments in analytic philosophy, particularly the rise of externalist epistemology, have revitalized the non-evidentialist position within the Reformed tradition. The intellectual allure of this movement has led many contemporary thinkers to argue that the Catholic internalist/evidentialist position has not only been significantly challenged but has also been largely silenced by this externalism-based Reformed epistemological stance. Consequently, they argue that the non-cogntive Reformed currect has established itself as the dominant, or perhaps the only, epistemological position in the philosophy of religion. This paper counters the prevailing narrative, arguing that despite the ostensible challenge posed by Reformed non-evidentialism, a synthesis is possible. By analyzing various Reformed epistemological movements within the contemporary anaytic tradtion, we demonstrate that externalist-based Reformed epistemology does not fundamentally undermine Catholic evidentialism. Instead, it offers a new and more promising framework for a Christian epistemology that sythesizes elements from both traditions, offering a more comprehensive and nuanced understing of the justification of religion belief, incoperating both internalist and externalist perspective.

Keywords: reformed and catholic epistemology, evidentialism, non-evidentialism, internalism, externalism

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Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Yahaya Salihu Emeje, Amuchie Austine Anthony

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The topic examined the prospects of entrepreneurship as an emerging dynamic and strategic tool in the upliftment of human and non-human resources in the Nigerian university system, with a view of showcasing the abundant positive impact, on the Nigerian University system in particular and Nigerian economy at large. It is end at bringing out the benefits of entrepreneurship in the university system which includes, namely cultivating the culture of enterprise in University system; improvement in the quality and quantity of both human and non-human resources; innovative and creative methods of production; new employment strategies in the University system; improved sources of internal generated revenue; entrepreneurship as the culture of sustainability within and outside the university system. Secondary data was used in analyzing entrepreneurship as a productivity tool in the Nigeria University system. From the findings, the university system could be enriched through innovative ideas and technical revenue and employment generation; sustainable financial and economic base; university autonomy and improved international ranking of Nigerian Universities system; therefore, recommended that entrepreneurship is necessary therapy for reviving the ailing, Nigerian universities system.

Keywords: entrepreneurship, strategic, productivity, universities

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Authors: Melissa Dickinson

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In the context of intense global competitiveness and urban transformations, today’s cities are faced with enormous challenges. There is increasing pressure among cities and regions to respond promptly and efficiently to fierce market progressions, to offer a competitive advantage, higher flexibility, and to be pro-active in creating future markets. Consequently, competition among cities and regions within the dynamics of a worldwide spatial economic system is growing fiercer, amplifying the importance of intangible capital in shaping the competitive and dynamic economic performance of organisations and firms. Accordingly, this study addresses how intangible capital influences urban economic development within an urban environment. Despite substantial research on the economic, and strategic determinants of urban economic development this multidimensional phenomenon remains to be one of the greatest challenges for economic geographers. The research provides a unique contribution, exploring intangible capital through the lenses of entrepreneurial capital and social-network capital. Drawing on business surveys and in-depth interviews with key stakeholders in the case of the three UK Core Cities Birmingham, Bristol and Cardiff. This paper critically considers how entrepreneurial capital and social-network capital is a crucial source of competitiveness and urban economic development. This paper deals with questions concerning the complexity of operationalizing ‘network capital’ in different urban settings and the challenges that reside in characterising its effects. The paper will highlight the role of institutions in facilitating urban economic development. Particular emphasis will be placed on exploring the roles formal and informal institutions have in delivering, supporting and nurturing entrepreneurial capital and social-network capital, to facilitate urban economic development. Discussions will then consider how institutions moderate and contribute to the economic development of urban areas, to provide implications in terms of future policy formulation in the context of large and medium sized cities.

Keywords: urban economic development, network capital, entrepreneurialism, institutions

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Authors: Wenfu Zheng, Guanghe Zheng

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The discussion on the social sustainability in existing literature is limited to two-dimension epistemology space with only two elements: the human and nature. Using the revelation of the Bible God, the paper adds a moral component to the two-dimension space. With the new variable being introduced, the authors formulate a to three-dimension epistemology space and discuss its implications. Based on the space, the authors explore the hierarchical structure of order principles for a sustainable society. The social order principle system hierarchically consists of three principles: moral, relational, and rational. The justification of every principle is analyzed briefly. The paper concluded that all these order principles are necessary assurance of building a sustainable society.

Keywords: common grace, saving grace, sustainable society, the image of God

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Authors: Yahaya Sulaiman, Ibrahim Muhammad Yakuba, Abubakar Usman

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In this paper, we discuss that Sustainable Development Goals are in consonance with Islamic ethos and philosophy. Islam made emphasize on human well-being from spiritual, physiological, intellectual and economic perspectives. Islamic worldview and values framework strengthens moral consciousness, urge pro-social behaviour and engender environmental ethics which can help in influencing our attitudes towards meeting sustainable development challenges. Islamic social finance institutions like Zakat and Waqf can contribute towards scaling up efforts in commercially non-viable, but socially vital projects and programs. There is much potential for Islamic finance to promote sustainable economic development through such approaches as widening access to finance, financing infrastructure projects, and expanding the reach of Takaful. Real sector based productive enterprise in Islamic finance has positive implications for the ecosystem. Risk-sharing shifts the emphasis from credit-worthiness of the borrower to be placed on the value creation and economic viability of investments that create new wealth. Islamic social finance package can cater to the financially excluded households.

Keywords: assessment, Islamic, economic, sustainable, development

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Authors: Mehdi Bakhtiarzadeh, Reza Efatnejad, Kambiz Rezapour Rezapour

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Due to the limited resources of fossil fuels and their harmful effects on the environment and human health, research on renewable energy applications in industrial and scientific communities has become particularly important. Only one percent of freshwater resources are available for use in the domestic, agricultural, and industrial sectors. On the other hand, the rapid growth of industry and the increase of population in most countries of the world, including Iran, have led to an increase in demand for freshwater. Among renewable energies, there is the potential of solar energy in Iran. As a result, solar distillation systems can be used as a solution to supply fresh water in remote rural areas. Therefore, in the present study, a solar water desalination device was designed and manufactured using two heat exchangers and a photovoltaic system. Its evaluation was done during September and October of 2020. During the evaluation of the device, environmental variables such as total solar radiation, ambient temperature and cooling tower temperature were recorded at intervals of one hour from 9 am to 5 pm. The effect of these variables on solar concentrator performance, heat exchanger, and daily freshwater production was evaluated. The results showed that using two heat exchangers and a photovoltaic system has led to the daily production of 5 liters of fresh water and 46% economic efficiency.

Keywords: solar water desalination, heat exchanger, photovoltaic system, technical and economic evaluation

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Authors: Evangelia Gaitanidou, Evangelos Bekiaris

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Considering that resilience implies the ability of a system to adapt continuously in order to respond to its operational goals, a system is considered as more or less resilient depending on the level and time of recovering from disruptive events and/or shocks to its initial state. Regarding transport systems, enhancing resilience is considered imperative for two main reasons: Such systems provide critical support to every socio-economic activity, while being one of the most important economic sectors and, secondly, the paths that convey people, goods and information, are the same through which risks are propagated. RESOLUTE (RESilience management guidelines and Operationalization appLied to Urban Transport Environment) Horizon 2020 research project is answering those needs, by proposing and testing a set of guidelines for resilience management of the urban transport system. The methods and steps towards this goal, through a step-wise methodology, taking into account established models like FRAM (Functional Resonance Analysis Model), and upon gathering existing practices are described in this paper, together with an overview of the produced guidelines. The overall aim is to create a framework which public transport authorities could consult and apply, for rendering their infrastructure resilient against natural disaster and other threats.

Keywords: guidelines, infrastructure, resilience, transport

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Authors: Rafikoddin Kazi

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Almost all the major religions of the world condemn the transactions based on interest which promotes self-centered and materialistic thinking. Still, it is amazing to note that it has become the tradition of transaction at world level hence it is called traditional financial system. The main feature of this system is that it considers economic aspects of the transaction only. This system supports the economic development and not the welfare of humankind. However, it is worth mentioning the fact that, except Islamic financial system no other financial system stood in front of it as a viable alternative system. Although many countries have tried to create financial infrastructure and system, still the Malaysian Islamic financial system has got its own peculiarity. It has made tremendous progress in creating sound Islamic Financial system. However, the historical aspect of this country which has passed through Islamic and traditional financial system has got its own advantages and disadvantages. The advantageous factor is that, despite having mix and heterogeneous culture, it has succeeded in creating Islamic Financial System based on the dual legal system to satisfy the needs of multi-cultural factors. This fact has proved that Islamic Financial System does not need purely Muslim population. However, due to adoption of the dual legal system, several legal issues have been taken place. According to this system, the application of Islamic Law has been limited only up to some family and religious matters. The rest of the matters are being dealt with under the traditional laws, the principles and practices of which are different from that of the Islamic Legal System. The matter becomes all the more complicated when the cases are partially or simultaneously concerned with traditional vis-à-vis Islamic Laws as it requires expertise in both the legal systems. However, the educational principles and systems are different in respect of both the systems. To face this problem, Shariah Advisory Council has been established. But the Multiplicity of Shariah authorities without judicial power has created confusion at various levels. Therefore, some experts have stressed the need for improving, empowering the Islamic financial, legal system to make it more integrated and holistic. In view of the above, an endeavor has been made in this paper to throw some light on the matters related to the adoption of the dual legal system. The paper is conceptual in nature and the method adopted is the intensive survey of literature thereby all the information has been gathered from the secondary sources.

Keywords: Islamic financial system, Islamic legal system, Islamic capital market (ICM) , traditional financial system

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Authors: M. A. Fouad, M. A. Badr, Z. S. Abd El-Rehim, Taher Halawa, Mahmoud Bayoumi, M. M. Ibrahim

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Renewable energy-based micro-grids are presently attracting significant consideration. The smart grid system is presently considered a reliable solution for the expected deficiency in the power required from future power systems. The purpose of this study is to determine the optimal components sizes of a micro-grid, investigating technical and economic performance with the environmental impacts. The micro grid load is divided into two small factories with electricity, both on-grid and off-grid modes are considered. The micro-grid includes photovoltaic cells, back-up diesel generator wind turbines, and battery bank. The estimated load pattern is 76 kW peak. The system is modeled and simulated by MATLAB/Simulink tool to identify the technical issues based on renewable power generation units. To evaluate system economy, two criteria are used: the net present cost and the cost of generated electricity. The most feasible system components for the selected application are obtained, based on required parameters, using HOMER simulation package. The results showed that a Wind/Photovoltaic (W/PV) on-grid system is more economical than a Wind/Photovoltaic/Diesel/Battery (W/PV/D/B) off-grid system as the cost of generated electricity (COE) is 0.266 $/kWh and 0.316 $/kWh, respectively. Considering the cost of carbon dioxide emissions, the off-grid will be competitive to the on-grid system as COE is found to be (0.256 $/kWh, 0.266 $/kWh), for on and off grid systems.

Keywords: renewable energy sources, micro-grid system, modeling and simulation, on/off grid system, environmental impacts

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Authors: B. G. C. Ahodode, S. Fekkaklouhail

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Following the triple helix theory, this study aims to evaluate the innovation system effect on African countries’ competitiveness by taking into account external contributions; according to the extent that developing countries (especially African countries) are characterized by weak innovation systems whose synergy operates more at the foreign level than domestic and global. To do this, we used the correlation test, parsimonious regression techniques, and panel estimation between 2013 and 2016. Results show that the degree of innovation synergy has a significant effect on competitiveness in Africa. Specifically, while the opening system (OPESYS) and social system (SOCSYS) contribute respectively in importance order to 0.634 and 0.284 (at 1%) significant points of increase in the GCI, the political system (POLSYS) and educational system (EDUSYS) only increase it to 0.322 and 0.169 at 5% significance level while the effect of the economic system (ECOSYS) is not significant on Global Competitiveness Index.

Keywords: innovation system, innovation, competitiveness, Africa

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Authors: Vera Jancurova

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People are, in general, exposed to behavioral biases, however, the degree and impact are affected by experience, knowledge, and other characteristics. The purpose of this article is to study two of defined behavioral biases, the overconfidence and self-attribution bias, and its impact on economic and non-economic students at different stage of the study. The research method used for the purpose of this study is a controlled field study that contains questions on perception of own confidence and self-attribution and estimation of limits to analyse actual abilities. The results of the research show that economic students seem to be more overconfident than their non–economic colleagues, which seems to be caused by the fact the questionnaire was asking for predicting economic indexes and own knowledge and abilities in financial environment. Surprisingly, the most overconfidence was detected by the students at the beginning of their study (1st-semester students). However, the estimations of real numbers do not point out, that economic students have better results by the prediction itself. The study confirmed the presence of self-attribution bias at all of the respondents.

Keywords: behavioral finance, overconfidence, self-attribution, heuristics and biases

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Authors: Abolfazl Alishahi Ghalehjoughi

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Economic independence and security of Islamic world is the top priority. Economic dependence of Muslim countries on economies of non-Muslim imperialist countries results in political and cultural dependencies, and such dependencies will jeopardize the noble Islamic culture; because the will of a dependent country to implements the noble teachings of Islam would be faced with challenges. Solidarity of Muslim countries to achieve a uniformed and resistive economy-based Islamic economic system can improve ability of Islamic world to resist and counteract economic shocks produced by imperialists. Islam is the most complete religion in every aspect, from ideological and epistemological, to legislative and ethical, and economic aspect is no exception. Islam provides solutions to develop a flourishing economy for the whole Islamic nation. Knowledge of such solutions and identification of mechanisms to operationalise them in Islamic communities can highly contributed to establishment of the superior Islamic economy. Encourage of hard working, achievement and knowledge production, correction of consumption patterns, optimized management of import and export, avoiding Islamically prohibited income, economic discipline and equity, and promotion of interest free loan and the like are among the most important solutions to realize such resistive economy.

Keywords: resistive economy, cultural independence, Islam, solidarity

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Authors: Pravin Kumar, Rajendra K. Singh, Prabhakar Singh

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A widespread research work on Mo-based double perovskite systems has been reported as a potential application for electrode materials of solid oxide fuel cells. Mo-based double perovskites studied in form of B-site ordered double perovskite materials, with general formula A₂B′B″O₆ structured by alkaline earth element (A = Sr, Ca, Ba) and heterovalent transition metals (B′ = Fe, Co, Ni, Cr, etc. and B″ = Mo, W, etc.), are raising a significant interest as potential mixed ionic-electronic conductors in the temperature range of 500-800 °C. Such systems reveal higher electrical conductivity, particularly those assigned in form of Sr₂CoMoO₆₋δ (M = Mg, Mn, Fe, Co, Ni, Zn etc.) which were studied in different environments (air/H₂/H₂-Ar/CH₄) at an intermediate temperature. Among them, the Sr₂CoMoO₆₋δ system is a potential candidate as an anode material for solid oxide fuel cells (SOFCs) due to its better electrical conductivity. Therefore, Sr₂CoMoO₆₋δ (SCM) system with La-doped on Sr site has been studied to discover the structural and electrical properties. The double perovskite system Sr₂CoMoO₆₋δ (SCM) and doped system Sr₂-ₓLaₓCoMoO₆₋δ (SLCM, x=0.04) were synthesized by the citrate-nitrate combustion synthesis route. Thermal studies were carried out by thermo-gravimetric analysis. Phase justification was confirmed by powder X-ray diffraction (XRD) as a tetragonal structure with space group I4/m. A minor phase of SrMoO₄ (s.g. I41/a) was identified as a secondary phase using JCPDS card no. 85-0586. Micro-structural investigations revealed the formation of uniform grains. The average grain size of undoped (SCM) and doped (SLCM) compositions was calculated by a linear intercept method and found to be ⁓3.8 μm and 2.7 μm, respectively. The electrical conductivity of SLCM is found higher than SCM in the air within the temperature range of 200-600 °C. SLCM system was also measured in reducing atmosphere (pure H₂) in the temperature range 300-600 °C. SLCM has been showed the higher conductivity in the reducing atmosphere (H₂) than in air and therefore it could be a promising anode material for SOFCs.

Keywords: double perovskite, electrical conductivity, SEM, XRD

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Authors: Ayşen Edirneligil, Mehmet Mucuk

Abstract:

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: Arkaprabha Bhattacharyya, Makarand Hastak

Abstract:

The COVID-19 pandemic is unprecedented in terms of its global reach and economic impacts. Historically, investment in infrastructure development projects has been touted to boost the economic growth of a nation. The State and Local governments responsible for delivering infrastructure assets work under tight budgets. Therefore, it is important to understand which infrastructure projects have the highest potential of boosting economic growth in the post-pandemic era. This paper presents relationships between infrastructure projects and economic growth. Statistical relationships between investment in different types of infrastructure projects (transit, water and wastewater, highways, power, manufacturing etc.) and indicators of economic growth are presented using historic data between 2002 and 2020 from the U.S. Census Bureau and U.S. Bureau of Economic Analysis (BEA). The outcome of the paper is the comparison of statistical correlations between investment in different types of infrastructure projects and indicators of economic growth. The comparison of the statistical correlations is useful in ranking the types of infrastructure projects based on their ability to influence economic prosperity. Therefore, investment in the infrastructures with the higher rank will have a better chance of boosting the economic growth. Once, the ranks are derived, they can be used by the decision-makers in infrastructure investment related decision-making process.

Keywords: economic growth, infrastructure development, infrastructure projects, strategic investment

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Authors: Szu-Hua Wang

Abstract:

Urban areas contain abundant potential biochemical storages and renewable and non-renewable flows. Urban natural environments for breeding natural assets and urban economic development for maintaining urban functions can be analyzed form the concept of ecological economic system. Land use change and ecosystem services change are resulting from the interactions between human activities and environments factually. Land use change due to human activities is the major cause of climate change, leading to serious impacts on urban ecosystem services, including provisioning services, regulating services, cultural services and supporting services. However, it lacks discussion on the interactions among urban land use change, ecosystem services change, and extreme precipitation events. Energy synthesis can use the same measure standard unit, solar energy, for different energy resources (e.g. sunlight, water, fossil fuels, minerals, etc.) and analyze contributions of various natural environmental resources on human economic systems. Therefore, this research adopts the concept of ecological, economic systems and energy synthesis for analyzing dynamic spatial impacts of land use change on ecosystem services, using the Taipei area as a case study. The analysis results show that changes in land use in the Taipei area, especially the conversion of natural lands and agricultural lands to urban lands, affect the ecosystem services negatively. These negative effects become more significant during the extreme precipitation events.

Keywords: urban ecological economic system, extreme precipitation events, ecosystem services, energy

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Authors: Kebron Abich Asnake

Abstract:

The outbreak of COVID-19 has had far-reaching socio-economic consequences globally, and Ethiopia is no exception. This abstract provides a summary of a research study on the socio-economic impact of COVID-19 in Ethiopia. The study analyzes the health impact, economic repercussions, social consequences, government response measures, and opportunities for post-crisis recovery. In terms of health impact, the research explores the spread and transmission of the virus, the capacity and response of the healthcare system, and the mortality rate, with a focus on vulnerable populations. The economic impact analysis entails investigating the contraction of the GDP, employment and income loss, disruption in key sectors such as agriculture, tourism, and manufacturing, and the specific implications for small and medium-sized enterprises (SMEs), foreign direct investment, and remittances. The social impact section looks at the disruptions in education and the digital divide, food security and nutrition challenges, increased poverty and inequality, gender-based violence, and mental health issues. The research also examines the measures taken by the Ethiopian government, including health and safety regulations, economic stimulus packages, social protection programs, and support for vulnerable populations. Furthermore, the study outlines long-term recovery prospects, social cohesion, and community resilience challenges. It highlights the need to strengthen the healthcare system and finds a balance between health and economic priorities. The research concludes by presenting recommendations for policy-makers and stakeholders, emphasizing opportunities for post-crisis recovery such as diversification of the economy, enhanced healthcare infrastructure, investment in digital infrastructure and technology, and support for domestic tourism and local industries. This research provides valuable insights into the socio-economic impact of COVID-19 in Ethiopia, offering a comprehensive analysis of the challenges faced and potential pathways towards recovery.

Keywords: impact, covid, ethiopia, health

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Authors: WooJin KANG

Abstract:

Contrary to the ideal, in the cartelized democracy, meritocracy is revealed to be a system that gives arrogance to the winners and humiliation to the losers, and more and more studies are asserting the upper-class bias of meritocracy. However, only some studies have analyzed the determinants of the perception of meritocracy and fairness among young people. This article was an attempt to fill this gap. According to the empirical results of this article, the determinants of fairness of the meritocracy in the youth were multidimensional. The social status model, the political ideology model, and the future prospect model all significantly impacted the perception of meritocracy fairness among young people. Contrary to the predictions of the system justification theory and the compensatory control theory of previous studies, the lower-class youth were critical of meritocracy. In addition, the more negative the future outlook, the less they accepted the fairness of meritocracy. In addition, ideological debates over solutions to inequality of opportunity, which began in earnest during the 20th presidential election, turned out to be a variable that significantly influenced the perception of fairness based on meritocracy among young people. The results of the empirical analysis in this article reaffirmed the multidimensional structure of the youth. This suggests the need for policy responses leading to education tailored to various subgroups within the youth.

Keywords: Meritocracy, Exam-Meritocracy, Fairness, Multiple-inequality

Procedia PDF Downloads 57