Search results for: circular economy (CE)

Authors: Magarò Floriana, Zinno Raffaele

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Since 2009, with the coming into force of the January 14, 2008 Ministerial Decree "New technical standards for construction", and the explanatory ministerial circular N°.617 of February 2, 2009, the question of seismic hazard and the design of seismic-resistant structures in Italy has acquired increasing importance. One of the most discussed aspects in recent Italian and international scientific literature concerns the dynamic interaction between land and structure, and the effects which dynamic coupling may have on individual buildings. In effect, from systems dynamics, it is well known that resonance can have catastrophic effects on a stimulated system, leading to a response that is not compatible with the previsions in the design phase. The method used in this study to estimate the frequency of oscillation of the structure is as follows: the analysis of HVSR (Horizontal to Vertical Spectral Ratio) relations. This allows for evaluation of very simple oscillation frequencies for land and structures. The tool used for data acquisition is an experimental digital tromograph. This is an engineered development of the experimental Languamply RE 4500 tromograph, equipped with an engineered amplification circuit and improved electronically using extremely small electronic components (size of each individual amplifier 16 x 26 mm). This tromograph is a modular system, completely "free" and "open", designed to interface Windows, Linux, OSX and Android with the outside world. It an amplifier designed to carry out microtremor measurements, yet which will also be useful for seismological and seismic measurements in general. The development of single amplifiers of small dimension allows for a very clean signal since being able to position it a few centimetres from the geophone eliminates cable “antenna” phenomena, which is a necessary characteristic in seeking to have signals which are clean at the very low voltages to be measured.

Keywords: microtremor, HVSR, tromograph, structural engineering

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Authors: Jian Wu

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Since a few years, some French companies have integrated CRS (corporate social responsibility) criteria in their variable remuneration plans to ‘restore a good working atmosphere’ and ‘preserve the natural environment’. These CSR criteria are based on concerns on environment protection, social aspects, and corporate governance. In June 2012, a report on this practice has been made jointly by ORSE (which means Observatory on CSR in French) and PricewaterhouseCoopers. Facing this initiative from the business world, we need to examine whether it has a real economic utility. We adopt a theoretical approach for our study. First, we examine the debate between the ‘orthodox’ point of view in economics and the CSR school of thought. The classical economic model asserts that in a capitalist economy, exists a certain ‘invisible hand’ which helps to resolve all problems. When companies seek to maximize their profits, they are also fulfilling, de facto, their duties towards society. As a result, the only social responsibility that firms should have is profit-searching while respecting the minimum legal requirement. However, the CSR school considers that, as long as the economy system is not perfect, there is no ‘invisible hand’ which can arrange all in a good order. This means that we cannot count on any ‘divine force’ which makes corporations responsible regarding to society. Something more needs to be done in addition to firms’ economic and legal obligations. Then, we reply on some financial theories and empirical evident to examine the sound foundation of CSR. Three theories developed in corporate governance can be used. Stakeholder theory tells us that corporations owe a duty to all of their stakeholders including stockholders, employees, clients, suppliers, government, environment, and society. Social contract theory tells us that there are some tacit ‘social contracts’ between a company and society itself. A firm has to respect these contracts if it does not want to be punished in the form of fine, resource constraints, or bad reputation. Legitime theory tells us that corporations have to ‘legitimize’ their actions toward society if they want to continue to operate in good conditions. As regards empirical results, we present a literature review on the relationship between the CSR performance and the financial performance of a firm. We note that, due to difficulties in defining these performances, this relationship remains still ambiguous despite numerous research works realized in the field. Finally, we are curious to know whether the integration of CSR criteria in variable remuneration plans – which is practiced so far in big companies – should be extended to other ones. After investigation, we note that two groups of firms have the greatest need. The first one involves industrial sectors whose activities have a direct impact on the environment, such as petroleum and transport companies. The second one involves companies which are under pressures in terms of return to deal with international competition.

Keywords: corporate social responsibility, corporate governance, variable remuneration, stakeholder theory

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Authors: Muhammad Bello Ibrahim, M. Auwal Zakari, Aliyu Usman

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Hybrid concrete construction (HCC) combines all the benefits of pre-casting with the advantages of cast in-situ construction. Merging the two, as a hybrid structure, results in even greater construction speed, value, and the overall economy. Its variety of uses has gained popularity in the United States and in Europe due to its distinctive benefits. However, the increase of its application in some countries (including Nigeria) has been relatively slow. Several researches have shown that hybrid construction offers an ultra-high performance concrete that offers superior strength, durability and aesthetics with design flexibility and within sustainability credentials, based on the available and economically visible technologies. This paper examines and documents the criterion that will help inform the process of deciding whether or not to adopt hybrid concrete construction (HCC) technology rather than more traditional alternatives. It also the present situation of design, construction and research on hybrid structures.

Keywords: hybrid concrete construction, Nigeria, sustainable infrastructure development, design flexibility

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Authors: Burcu Guvenek, Duygu Baysal Kurt

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The impact of foreign trade on economic growth has been discussed since the Classical Economists. Today, foreign trade has become more important for the country's economy with the increasing globalization. When it comes to foreign trade, policies which may vary from country to country and from time to time as protectionism or free trade are implemented. In general, the positive effect of foreign trade on economic growth is alleged. However, as studies supporting this general acceptance take place in the economics literature, there are also studies in the opposite direction. In this paper, the impact of foreign trade on economic growth will be investigated with the help of panel data analysis. For this research, 24 OECD countries’ GDP and foreign trade data, including the period of 1990 and 2010, will be used.

Keywords: foreign trade, economic growth, OECD countries, panel data analysis

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Authors: Moustafa Osman Mohamed

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This paper will explore the influence of energy sector in Arab Republic of Egypt which has shared its responsibilities of many environmental challenges as the second largest economy in the Middle East (after Iran). Air and water pollution, desertification, inadequate disposal of solid waste and damage to coral reefs are serious problems that influence environmental management in Egypt. The intensive reliance of high population density and strong industrial growth are wearing Egypt's resources, and the rapidly-growing population has forced Egypt to breakdown agricultural land to residential and relevant use of commercial ingestion. The depletion effects of natural resources impose the government to apply innovation techniques in emission control and focus on sustainability. The cogeneration will be presented to control thermal losses and increase efficiency of energy power system.

Keywords: cogeneration, environmental management, power electricity, energy indicators

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Authors: Ana Hol

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Digital systems are in the cognitive wave of the eTransformations and are now extensively aimed at meeting the individuals’ demands, both those of customers requiring services and those of service providers. It is also apparent that successful future systems will not just simply open doors to the traditional owners/users to offer and receive services such as Uber for example does today, but will in the future require more customized and cognitively enabled infrastructures that will be responsive to the system user’s needs. To be able to identify what is required for such systems, this research reviews the historical and the current effects of the eTransformation process by studying: 1. eTransitions of company websites and mobile applications, 2. Emergence of new sheared economy business models as Uber and, 3. New requirements for demand driven, cognitive systems capable of learning and just in time decision making. Based on the analysis, this study proposes a Cognitive eTransformation Framework capable of guiding implementations of new responsive and user aware systems.

Keywords: system implementations, AI supported systems, cognitive systems, eTransformation

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Authors: Pratik Acharya

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Scour is the natural phenomenon brought about by erosive action of the flowing stream in alluvial channels. Frequent scouring around bridge piers may cause damage to the structures. In alluvial channels, a complex interaction between the streamflow and the bed particles results in scouring around piers. Thus, the study of characteristics of flow around piers can give sound knowledge about the scouring process. The present research has been done to investigate the turbulent flow characteristics around bridge piers and corresponding changes in bed morphology. Laboratory experiments were carried out in a tilting flume with a sand bed. The velocities around the pier are measured by Acoustic Doppler Velocimeter. Measurements show that at upstream of the pier velocity and Reynolds stresses are negative near the bed and near the free surface at downstream of the pier. At the downstream of the pier, Reynolds stresses changes rapidly due to the formation of wake vortices. Experimental results show that secondary currents are more predominant at the downstream of the pier. As the flowing stream hits the pier, the flow gets separated in the form of downflow along the face of the pier due to a strong pressure gradient and along the sides of the piers. Separation of flow around the pier leads to scour the bed material and develop the vortex. The downflow hits the bed and removes the bed material, which can be carried forward by the flow circulations along sides of the piers. Eroded bed material is deposited along the centerline at the rear side of the pier and produces hump in the downstream region. Initially, the rate of scouring is high and reduces gradually with increasing time. After a certain limit, equilibrium sets between the erosive capacity of the flowing stream and resistance to the motion by bed particles.

Keywords: acoustic doppler velocimeter, pier, Reynolds stress, scour depth, velocity

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Authors: Tahmina Akhter

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In the present work, we make a study of the repercussions of the pandemic generated by Covid-19 in the real estate market, this disease has affected almost all sectors of the economy across different countries in the world, including the real estate markets. This documentary research, basically focused on the years 2021 and 2022, as we seek to focus on the strongest time of the pandemic. We carried out the study trying to take into account the repercussions throughout the world and that is why the data we analyze takes into account information from all continents as possible. Particularly in the US, Europe and China where the Covid-19 impact has been of such proportions that it has fundamentally affected the housing market for middle-class housing. In addition, a risk has been generated, the investment of this market, due to the fact that companies in the sector have generated losses in certain cases; in the Chinese case, Evergrande, one of the largest companies in the sector, fell into default.

Keywords: COVID-19, real estate market, statistics, pandemic

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Authors: Sheng-Bo Zhang, Huan-Hao Zhang, Zhi-Hua Chen, Chun Zheng

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In this paper, the Richtmyer-Meshkov instability has been studied numerically by using the high-resolution Roe scheme based on the two-dimensional unsteady Euler equation, which was caused by the interaction between shock wave and the helium circular light gas cylinder with different component distributions. The numerical results further discuss the deformation process of the gas cylinder, the wave structure of the flow field and quantitatively analyze the characteristic dimensions (length, height, and central axial width) of the gas cylinder, the volume compression ratio of the cylinder over time. In addition, the flow mechanism of shock-driven interface gas mixing is analyzed from multiple perspectives by combining it with the flow field pressure, velocity, circulation, and gas mixing rate. Then the effects of different initial component distribution conditions on interface instability are investigated. The results show when the diffusion interface transit to the sharp interface, the reflection coefficient gradually increases on both sides of the interface. When the incident shock wave interacts with the cylinder, the transmission of the shock wave will transit from conventional transmission to unconventional transmission. At the same time, the reflected shock wave is gradually strengthened, and the transmitted shock wave is gradually weakened, which leads to an increase in the Richtmyer-Meshkov instability. Moreover, the Atwood number on both sides of the interface also increases as the diffusion interface transit to the sharp interface, which leads to an increase in the Rayleigh-Taylor instability and the Kelvin-Helmholtz instability. Therefore, the increase in instability will lead to an increase the circulation, resulting in an increase in the growth rate of gas mixing rate.

Keywords: shock wave, He light cylinder, Richtmyer-Meshkov instability, Gaussian distribution

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Authors: Asghar Ali, Narjis Khatoon

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This study focuses on the presence of wage differentials in Pakistan and also on the determinants that originate it. Since there are a smaller number of studies that are conducted on this topic in Pakistan, the current study aims to contribute in bridging the existing gap in this particular research genre. Hence, this study not only generates the desired results specific focus but it also contributes to the overall empirical work on the Pakistan economy. The preceding works which have been done to research wage determinants and wage differentials have used numerous different theories and approaches to reach their goals. The current study, in order to analyze the determinants of wage differentials in the developing economy, deals with the study of a number of such theories and approaches that are supposed as being beneficial for the purpose. This study undertakes the explanation of wage differentials in Pakistan by focusing on wage differentials in public and private sectors, formal and informal sectors, and major occupational groups. The study uses 'Wage Theory' to examine wage differentials among male and female employees in public and private sectors on varied levels of working conditions. This study also uses 'Segmented Labor Market Theory' to determine the wage differential in both public and private sectors, formal and informal, and major occupational groups in Pakistan. So the author has used various econometric techniques in order to explain and test these theories and to find out the required results. This study has employed seven different cross-sectional Labour Force Surveys for the time period between 2006-07 to 2012-13. Gender equality is not only a policy reform agenda for developing countries but also an important goal of Millennium Development Goals. This study investigates the nexus between wage inequality and economic growth and detects co-integration between gender wage differential and economic growth using ARDL bound test. It is confirmed from the empirical results that there exists long-run relationship between economic growth and wage differential. Our study indicated that half of the total female employees from fourteen major cities of Pakistan were employed in the public sector. Out of total female employees in private sector, 66 percent are employed in the formal sector, and 33 percent are working in the informal sector. Results also indicated that both men and women were paid more in the public sector compared to the private sector counterparts. Among the total female employees, only 9 percent had received any formal training, 52% were married and average years of schooling were 11 years. Further, our findings regarding wage differential between genders indicate that wage gap is lower in public sector as compared to private sector. In proportion, gender wage ratio was found to be 0.96, 0.62 and 0.66 in public, formal private and informal private sectors respectively. This suggests that in this case, private sector female employees with the same pay structure are compensated at a lower endowments rate as then public sector workers as compared to their counter parts.

Keywords: wage differentials, formal, informal, economic growth

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Authors: G. Erkomaishvili

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The paper discusses economic policy of Georgia aiming to increase national competitiveness as well as the tools and means which will help to improve the competitiveness of the country. The sectors of the economy, in which the country can achieve the competitive advantage, are studied. It is noted that the country’s economic policy plays an important role in obtaining and maintaining the competitive advantage - authority should take measures to ensure high level of education; scientific and research activities should be funded by the state; foreign direct investments should be attracted mainly in science-intensive industries; adaptation with the latest scientific achievements of the modern world and deepening of scientific and technical cooperation. Stable business environment and export oriented strategy is the basis for the country’s economic growth. As the outcome of the research, the paper suggests the strategy for improving competitiveness in Georgia; recommendations are provided based on relevant conclusions.

Keywords: competitive advantage, competitiveness, competitiveness improvement strategy, competitiveness of Georgia

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Authors: Kairat Kurakbayev, Dina Gungor, Adil Ashirbekov, Assel Kambatyrova

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Kazakhstan, a post-Soviet economy located in the Central Asia, is making great efforts to internationalize its national system of education. The country is very ambitious in making the national economy internationally competitive and education has become one of the main pillars of the nation’s strategic development plan for 2030. This paper discusses the role of professional teacher development in upgrading the secondary education curriculum with the introduction of English as a medium of instruction (EMI) in grades 10-11 grades. Having Kazakh as the state language and Russian as the official language, English bears a status of foreign language in the country. The development of trilingual education is very high on the agenda of the Ministry of Education and Science. It is planned that by 2019 STEM-related subjects – Biology, Chemistry, Computing and Physics – will be taught in EMI. Introducing English-medium education appears to be a very drastic reform and the teaching cadre is the key driver here. At the same time, after the collapse of the Soviet Union, the teaching profession is still struggling to become attractive in the eyes of the local youth. Moreover, the quality of Kazakhstan’s secondary education is put in question by OECD national review reports. The paper presents a case study of the nation-wide professional development programme arranged for 5 010 school teachers so that they could be able to teach their content subjects in English starting from 2019 onwards. The study is based on the mixed methods research involving the data derived from the surveys and semi-structured interviews held with the programme participants, i.e. school teachers. The findings of the study imply the significance of the school teachers’ attitudes towards the top-down reform of trilingual education. The qualitative research data reveal the teachers’ beliefs about advantages and disadvantages of having their content subjects (e.g. Biology or Chemistry) taught in EMI. The study highlights teachers’ concerns about their professional readiness to implement the top-down reform of English-medium education and discusses possible risks of academic underperforming on the part of students whose English language proficiency is not advanced. This paper argues that for the effective implementation of the English-medium education in secondary schools, the state should adopt a comprehensive approach to upgrading the national academic system where teachers’ attitudes and beliefs play the key role in making the trilingual education policy effective. The study presents lessons for other national academic systems considering to transfer its secondary education to English as a medium of instruction.

Keywords: teacher education, teachers' beliefs, trilingual education, case study

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Authors: Feguens Pierre

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For a long time, Latin American countries have been introduced to numerous programs and public policies focused on improving the agricultural sector in terms of sustainability, as well as in terms of the relationship between producers and consumers, aimed at improve farmers' income and allow consumers to have access to quality products, encouraging alternative agriculture. Therefore, in Brazil, among the programs, that is, the public policies that have encompassed alternative agriculture, in other words organic, we have the Community that Supports Agriculture (CSA) which ensures a relationship between producers and consumers focused on a solidarity economy, also protecting the environment. This work aims to understand the importance of the Community Supporting Agriculture (CSA), as well as the challenges it has faced over time. Particularly in the case of Brazil. A bibliographic methodology was used to theoretically analyze through several books and articles the performance of (CSA) in Brazil.

Keywords: community supporting agriculture, importance, challenges, producer, consumer

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Authors: Minami Ito, Akihiro Iijima

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On March 11, 2011, the Great East Japan Earthquake occurred off the coast of Sanriku, Japan. It is important to build a sustainable society through the reconstruction process rather than simply restoring the infrastructure. To compare the goals of reconstruction plans of quake-stricken municipalities, Japanese language morphological analysis was performed by using text mining techniques. Frequently-used nouns were sorted into four main categories of “life”, “disaster prevention”, “economy”, and “harmony with environment”. Because Soma City is affected by nuclear accident, sentences tagged to “harmony with environment” tended to be frequent compared to the other municipalities. Results from cluster analysis and principle component analysis clearly indicated that the local government reinforces the efforts to reduce risks from radiation exposure as a top priority.

Keywords: eco-friendly reconstruction, harmony with environment, decontamination, nuclear disaster

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Authors: Anis A. Ansari, Aftab A. Ansari

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Electronic waste is inundating the traditional solid-waste-disposal facilities, which are inadequately designed to handle and manage such type of new wastes. Since electronic waste contains mostly hazardous and even toxic materials, the seriousness of its effects on human health and the environment cannot be ignored in present scenario. Waste from the electronic industry is increasing exponentially day by day. From the last 20 years, we are continuously generating huge quantities of e-waste such as obsolete computers and other discarded electronic components, mainly due to evolution of newer technologies as a result of constant efforts in research and development in this sector. Polymers, one of the major constituents in almost every electronic waste, such as computers, printers, electronic equipment, entertainment devices, mobile phones, television sets etc., are if properly recycled can create a new business opportunity. This would not only create potential market for polymers to improve economy but also the priceless land used as dumping sites of electronic waste, can be utilized for other productive purposes.

Keywords: polymer recycling, electronic waste, hazardous materials, electronic components

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Authors: Kacper Tomasz Kröber-Mulawa

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This paper will address the topic of data ownership from an economic perspective, and examples of economic limitations of data property rights will be provided, which have been identified using methods and approaches of economic analysis of law. To properly build a background for the economic focus, in the beginning a short perspective of data and data ownership in the EU’s legal system will be provided. It will include a short introduction to its political and social importance and highlight relevant viewpoints. This will stress the importance of a Single Market for data but also far-reaching regulations of data governance and privacy (including the distinction of personal and non-personal data, data held by public bodies and private businesses). The main discussion of this paper will build upon the briefly referred to legal basis as well as methods and approaches of economic analysis of law.

Keywords: antitrust, data, data ownership, digital economy, property rights

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Authors: Riddhi Chopra

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Alfred Thayer Mahan described the sea as a ‘great common,’ which would serve as a medium for communication, trade, and transport. The seas of Asia are witnessing an intriguing historical anomaly – rise of an indigenous maritime power against the backdrop of US domination over the region. As China transforms from an inward leaning economy to an outward-leaning economy, it has become increasingly dependent on the global sea; as a result, we witness an evolution in its maritime strategy from near seas defense to far seas deployment strategies. It is not only patrolling the international waters but has also built a network of civilian and military infrastructure across the disputed oceanic expanse. The paper analyses the reorientation of China from a naval power to a blue water navy in an era of extensive globalisation. The actions of the Chinese have created a zone of high alert amongst its neighbors such as Japan, Philippines, Vietnam and North Korea. These nations are trying to align themselves so as to counter China’s growing brinkmanship, but China has been pursuing claims through a carefully calibrated strategy in the region shunning any coercive measures taken by other forces. If China continues to expand its maritime boundaries, its neighbors – all smaller and weaker Asian nations would be limited to a narrow band of the sea along its coastlines. Hence it is essential for the US to intervene and support its allies to offset Chinese supremacy. The paper intends to provide a profound analysis over the disputes in South China Sea and East China Sea focusing on Philippines and Japan respectively. Moreover, the paper attempts to give an account of US involvement in the region and its alignment with its South Asian allies. The geographic dynamics is said the breed a national coalition dominating the strategic ambitions of China as well as the weak littoral states. China has conducted behind the scenes diplomacy trying to persuade its neighbors to support its position on the territorial disputes. These efforts have been successful in creating fault lines in ASEAN thereby undermining regional integrity to reach a consensus on the issue. Chinese diplomatic efforts have also forced the US to revisit its foreign policy and engage with players like Cambodia and Laos. The current scenario in the SCS points to a strong Chinese hold trying to outspace all others with no regards to International law. Chinese activities are in contrast with US principles like Freedom of Navigation thereby signaling US to take bold actions to prevent Chinese hegemony in the region. The paper ultimately seeks to explore the changing power dynamics among various claimants where a rival superpower like US can pursue the traditional policy of alliance formation play a decisive role in changing the status quo in the arena, consequently determining the future trajectory.

Keywords: China, East China Sea, South China Sea, USA

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Authors: Boopen Seetanah, R. V. Sannassee, Sheereen Fauzel, Robin Nunkoo

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The bulk of research on the impact of research and development (R&D) has been carried out in developed economies where the intensity of R&D expenditure has been relatively high and stable for many years. However, there is a paucity of similar studies in developing countries. In this paper, we provide empirical estimates of the impact of R&D investment on economic growth in a developing African economy (Mauritius) where R&D expenditure intensity has been low initially, but rising, albeit moderately in recent years. Using a dynamic time series analysis over the period 1980 to 2014 in a Vector Autoregressive framework, R & D is shown to have a positive and significant effect on the economic progress of the island, although the impact is considerably less when compared to both other ingredients of growth and also to reported elasticities fromdeveloped economies . Interestingly, there is evidence of bicausality between R & D and growth. furthermore, R & D positively impacts on both domestic and foreign investment, suggesting the possibilities of indirect effects.

Keywords: R & D, VECM, Africa, Mauritius

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Authors: J-C. Leneveu, A. Chereau, L. Mansart, T. Mesbah, M. Wyka

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Extracting and interpreting information from Big Data represent a stake for years to come in several sectors such as finance. Currently, numerous methods are used (such as Technical Analysis) to try to understand and to anticipate market behavior, with mixed results because it still seems impossible to exactly predict a financial trend. The increase of available data on Internet and their diversity represent a great opportunity for the financial world. Indeed, it is possible, along with these standard financial data, to focus on exogenous data to take into account more macroeconomic factors. Coupling the interpretation of these data with standard methods could allow obtaining more precise trend predictions. In this paper, in order to observe the influence of exogenous data price independent of other usual effects occurring in classical markets, behaviors of Bitcoin users are introduced in a model reconstituting Bitcoin value, which is elaborated and tested for prediction purposes.

Keywords: big data, bitcoin, data mining, social network, financial trends, exogenous data, global economy, behavioral finance

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Authors: Muhammad Shahid, Kafait Ullah, Kashif Imran, Arshad Mahmood, Maarten Arentsen

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Poor planning and governance in the power sector of Pakistan have generated several issues ranging from gradual reliance on thermal-based expensive energy mix, supply shortages, unrestricted demand, subsidization, inefficiencies at different levels of the value chain and resultantly, the circular debt. This situation in the power sector has also hampered the growth of allied economic sectors. This study uses the Long-range Energy Alternative Planning (LEAP) system for electricity modelling of Pakistan from the period of 2016 to 2040. The study has first time in Pakistan forecasted the electricity demand at the provincial level. At the supply side, five scenarios Business as Usual Scenario (BAUS), Coal Scenario (CS), Gas Scenario (GS), Nuclear Scenario (NS) and Renewable Scenario (RS) have been analyzed based on the techno-economic and environmental parameters. The study has also included environmental externality costs for evaluating the actual costs and benefits of different scenarios. Contrary to the expectations, RS has a lower output than even BAUS. The study has concluded that the generation from RS has five times lesser costs than BAUS, CS, and GS. NS can also be an alternative for the sustainable future of Pakistan. Generation from imported coal is not a good option, however, indigenous coal with clean coal technologies should be promoted. This paper proposes energy planners of the country to devise incentives for the utilization of indigenous energy resources including renewables on priority and then clean coal to reduce the energy crises of Pakistan.

Keywords: economic evaluation, externality cost, penetration of renewable energy, regional electricity supply-demand planning

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Authors: Gulnaz Erkomaishvili, Eteri Kharaishvili, Marina Chavleishvili

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The paper discusses the economic policy of increasing national competitiveness, the tools, and means which help the country to improve its competitiveness. The sectors of the economy, in which the country can achieve a competitive advantage, are studied. It is noted that the country’s economic policy plays an important role in obtaining and maintaining a competitive advantage - authority should take measures to ensure a high level of education; scientific and research activities should be funded by the state; foreign direct investments should be attracted mainly in science-intensive industries; adaptation with the latest scientific achievements of the modern world and deepening of scientific and technical cooperation. Stable business environment and export-oriented strategy is the basis for the country’s economic growth. The studies have shown that institutional reforms in Georgia are not enough to significantly improve the country's competitiveness.

Keywords: competitiveness, economic policy, competitiveness improvement strategy, competitiveness of Georgia

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Authors: Livia Herle

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A large part of the Principality of Liechtenstein is covered by forest. Three-quarters of this forest is defined as protective due to the alpine landscape of the country, which is deteriorating the quality of the wood. Nevertheless, the forest is one of the most important sources of raw material. However, out of the wood harvested annually in Liechtenstein, about two-thirds are used directly as an energy source, drastically shortening up the carbon storage cycle of wood. Furthermore, due to climate change, forest structures are changing. Predictions for the forest in Liechtenstein have stated that the spruce will mostly vanish in low altitudes, only being able to survive in the higher regions. In contrast, hardwood species will experience a rise, resulting in a more mixed forest. Thus, the main research focus will be put upon the potential of hardwood as well as prolonging the lifespan of a timber log before ending up as an energy source. An analysis of the local occurrence of hardwood species and their quality will serve as a tool to implement this knowledge upon constructional solutions. As a system that works with short spam timber and thus qualifies for the regional conditions of hardwood, reciprocal frame systems will be further investigated. These can be defined as load-bearing structures with only two beams connecting at a time, avoiding complex joining situations. Furthermore, every beam is mutually supporting. This allows the usage of short pieces of preferably massive wood. As a result, the system permits for an easy assembly but also disassembly. To promote a more circular application of wood, possible cascading scenarios of the structural solutions will be added. In a workshop at the School of Architecture of the University of Liechtenstein in the Sommer Semester 2024, prototypes in 1:1 of reciprocal frame systems using only local hardwood will help as a tool to further test the theoretical analyses.

Keywords: hardwood, cascading wood, reciprocal frames, crooked wood, forest structures, climate change

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Authors: Asowata Osamede

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Solar radiation provides the largest renewable energy potential on earth and photovoltaics (PV) are considered a promising technological solution to support the global transformation to a low-carbon economy and reduce dependence on fossil fuels. The aim of this paper is to evaluate the efficiency of power conditioning devices with a focus on the Buck and Boost DC-DC converters (12 V, 24 V and 48 V) in a basic off grid PV system with a varying load profile. This would assist in harnessing more of the available solar energy. The practical setup consists of a PV panel that is set to an orientation angle of 0º N, with corresponding tilt angles. Preliminary results, which include data analysis showing the power loss in the system and efficiency, indicate that the 12V DC-DC converter coupled with the load profile had the highest efficiency for a latitude of 26º S throughout the year.

Keywords: poly-crystalline PV panels, DC-DC converters, tilt and orientation angles, direct solar radiation, load profile

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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: Gurjinder Singh Randhawa, Jonny Garg, Sukhraj Singh, Gurmeet Singh Cheema

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A major problem related to the use of rotavator is wear of rotavator blades due to abrasion by soil hard particles, as it seriously affects tillage quality and agricultural production economy. The objective of this study was to increase the wear resistance by covering the rotavator blades with two different hard facing electrodes. These blades are generally produced from low carbon or low alloy steel. During the field work i.e. preparing land for the cultivation these blades are subjected to severe wear conditions. Comparative wear tests on a regular rotavator blade and two kinds of hardfacing with electrodes were conducted in the field. These two different hardfacing electrodes, which are designated HARD ALLOY-400 and HARD ALLOY-650, were used for hardfacing. The wear rate in the field tests was found to be significantly different statistically. When the cost is taken into consideration; HARD ALLOY-650 and HARD ALLOY-400 have been found to be the best hardfacing electrodes.

Keywords: hardfacing, rotavator blades, hard alloy-400, abrasive wear

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Authors: Nhabhat Chaimongkol

Abstract:

Human capital is one of the factors that are vital for economic growth. This is especially true as humans will face increasingly more forms of disruptive technology in the near future. Therefore, there is a need to develop human capital in order to overcome the current uncertainty in the global economy and the future of jobs. In recent years, Thailand has increasingly devoted more attention to developing its human capital. The Thai government has raised this issue in its national agenda, which is part of its 20-year national strategy. Currently, there are multiple challenges and solutions regarding this issue. This study aims to find out what are the challenges and solutions to human capital development in Thailand. The research in this study uses mixed methods consisting of quantitative and qualitative research methods. The results show that while Thailand has many plans to develop human capital, it is still lacking the necessary actions and integrations that are required to achieve its goals. Finally, the challenges and solutions will be discussed in detail.

Keywords: challenges, human capital, solutions, Thailand

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Authors: Faisal Algosair

Abstract:

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

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

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Authors: Temitope Faloye

Abstract:

In today’s changing job market economy, most employers of labor want employees who are employable and possess relevant skills. Graduates need to possess generic skills due to the continually changing nature of the job market, which requires adaptive coping strategies. Most employers of labor complain that graduates are not employable, which is one of the major factors causing a high rate of graduate unemployment in Nigeria. However, the number of unemployed females is higher than that of unemployed males; hence gender difference is linked to the employability of graduates. The human capital theory is considered an appropriate theory for this study. A qualitative approach will be used to provide answers to the research questions. Therefore, the research study aims to investigate the employers’ perspective on female graduate employability in Nigeria.

Keywords: graduate employability, generic skills, graduate unemployment, gender

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Authors: Fahad Suleiman

Abstract:

Agriculture has been the mainstay of the nation’s economy in Nigeria. It provides food for the ever rapidly increasing population and raw materials for the industries. People especially the rural dwellers are gainfully employed on their crop farms and small-scale livestock farms for income earning. In farming, availability of funds and time management are one of the major factors that influence the system of farming in Nigeria in which mathematical science knowledge was highly required in order for farms to be managed effectively. Farmers often applied mathematics, almost every day for a variety of tasks, ranging from measuring and weighing, to land marking. This paper, therefore, explores some of the ways math is used in farming. For instance, farmers use arithmetic variety of farm activities such as seed planting, harvesting crop, cultivation and mulching. It is also important in helping farmers to know how much their livestock weighs, how much milk their cows produce and crop yield per acres, among others.

Keywords: agriculture, application, economic, farming, mathematics

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Authors: Wan Wang, Xing Li

Abstract:

With the international river playing an increasingly important role in international relations, the border river between China and Russia has attracted more attention. During the history of Sino-Russian relations, Heilong-Amur River used to be a disputed border. The Sino-Russian transboundary water cooperation regarding the Heilong-Amur River started in 1950s and has obtained rapid improvement. In the 21st century, this cooperation has made substantial progress, which is worthy of a further study. However, this cooperation is facing with obstacles in aspects of economy, policy, implementation and mutual understandings. Under this circumstance, from the perspective of China, it is of necessity to realize these problems and take appropriate measures to promote the cooperation. The current Sino-Russian relations is conducive to transboundary water resources cooperation regarding the Heilong-Amur River and some measures adopted by China are already ongoing.

Keywords: China, cooperation, Heilong-Amur River, Russia

Procedia PDF Downloads 363