Search results for: causality%20test

Authors: Yuchao Yao

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As two of the main characteristics of Chinese demographic trends, increasing divorce rates and decreasing fertility rates both shaped the population structure in the recent decade. Figuring out to what extent can be having a child make a difference in the divorce rate of a couple will not only draw a picture of Chinese families but also bring about a new perspective to evaluate the Chinese child-breeding policies. Based on China Family Panel Studies (CFPS) Data 2010-2018, this paper provides a systematic evaluation of how children influence a couple’s marital stability through a series of empirical models. Using survival analysis and propensity score matching (PSM) model, this paper finds that the number and age of children that a couple has mattered in consolidating marital relationship, and these effects vary little over time; during the last decade, newly having children can in fact decrease the possibility of divorce for Chinese couples; the such decreasing effect is largely due to the birth of a second child. As this is an inclusive attempt to study and compare not only the effects but also the causality of children on divorce risk in the last decade, the results of this research will do a good summary of the status quo of divorce in China. Furthermore, this paper provides implications for further reforming the current marriage and child-breeding policies.

Keywords: divorce risk, fertility, China, survival analysis, propensity score matching

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Authors: Eric Berry White

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The paper examines the causality between solid waste pollution and lockdown. Particularly in 2020, the world experiences the takeover of the Corona virus pandemic, and most countries decided to adopt lockdown measure as the best solution to curtail the spread of the virus. On March 20, 2020, the Government of Liberia implemented a curfew that starts from 3:00PM to 6:00AM. This means that no unauthorized person is allowed to be in the streets during this time. In most developing countries, the issue of public waste and environmental hazard pollution tend to have a high effect among the slum communities where there are markets. This research covers 6 slums communities around the two biggest market hubs within Monrovia, and the result shows that the lockdown measure significantly reduced public waste pollution by reducing the movement of marketers in slum communities , where limited educational and sensitization for young people is reflected on their job market exclusion, jobless circle, and youth workforce concentration in informal work market. The study discovered that with public awareness and sensitization with females, solid waste could be reduced by 13 percentage point. But there is no evidence that awareness among male conduce pollution. within affected communities, Despite the impact of the lockdown on food consumption, these results emphasized that with the right monitoring of waste and aware, pollution could be reduce. By understanding these results and implementing the best policy, the paper recommends that dump sites be close at certain hours.

Keywords: lockdown, environmental, pollution, waste

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Authors: Zeynep Karacor, Rahime Hulya Ozturk

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Located in developing countries but with the successful performance in recent years have shown in emerging economies , the labor factor has undoubtedly an important place in Turkish economy. The theorists have emphasized the importance of labor and human capital factors for many years. The importance of human capital is emerging in the process of determining the labor force participation rate. It is relatively easy to employ qualified labor force but employment of unskilled labor is particularly difficult. Another factor affecting the gender differences are employment opportunities in the labor force. In our country, the employment conditions of men and women differ. Factors causing these differentials are inherent job requirements, the social structure of society, women's point of view, working hours, working conditions. Crisis in our country in recent years have significantly affect the labor force participation rates. In particular, women's labor force participation rates have shown a decrease in crisis.In crisis female laborforce leave their job and go their home. It is the sole provider of social perception of men so in crisis period it is considered that woman lost their job. In the first part of this study the current situation in the world of female participation in the labor force in Turkey will examine. In the second part of the study literature will be examined. In the third and last part of the study factors of determinants of female labor force participation rate analysis will done by Granger Causality Analysis.

Keywords: female labour force, employment, labor force, Turkey

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Authors: Abigail M. Csik, Gabriel A. Radvansky

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As people read through event-based narratives, they construct an event model that captures information about the characters, goals, location, time, and causality. For many reasons, memory for such narratives is represented at different levels, namely, the surface form, textbase, and event model levels. Rereading has been shown to decrease surface form memory, while, at the same time, increasing textbase and event model memories. More generally, distributed practice has consistently shown memory benefits over massed practice for different types of materials, including texts. However, little research has investigated distributed practice of narratives at different inter-study intervals and these effects on these three levels of memory. Recent work in our lab has indicated that there may be dramatic changes in patterns of forgetting around one week, which may affect the three levels of memory. The present experiment aimed to determine the effects of rereading on the three levels of memory as a factor of whether the texts were reread before versus after one week. Participants (N = 42) read a set of stories, re-read them either before or after one week (with an inter-study interval of three days, seven days, or fourteen days), and then took a recognition test, from which the three levels of representation were derived. Signal detection results from this study reveal that differential patterns at the three levels as a factor of whether the narratives were re-read prior to one week or after one week. In particular, an ANOVA revealed that surface form memory was lower (p = .08) while textbase (p = .02) and event model memory (p = .04) were greater if narratives were re-read 14 days later compared to memory when narratives were re-read 3 days later. These results have implications for what type of memory benefits from distributed practice at various inter-study intervals.

Keywords: memory, event cognition, distributed practice, consolidation

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Authors: Sobar M. Johari, Ida Putri Anjarsari

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In the transmission of monetary instrument towards real sector of the economy, Bank Indonesia as monetary authority has developed Islamic Bank Indonesia Certificate (abbreviated as SBIS) as an instrument in Islamic open market operation. One of the monetary transmission channels could take place through financing channel from which the fund is used as the source of banking financing. This study aims to analyse the impact of Islamic monetary instrument towards output or economic growth. Data used in this research is taken from Bank Indonesia and Central Board of Statistics for the period of January 2008 until December 2015. The study employs Granger Causality Test, Vector Error Correction Model (VECM), Impulse Response Function (IRF) technique and Forecast Error Variance Decomposition (FEVD) as its analytical methods. The results show that, first, the transmission mechanism of banking financing channel are not linked to output. Second, estimation results of VECM show that SBIS, PUAS, and FIN have significant impact in the long term towards output. When there is monetary shock, output or economic growth could be recovered and stabilized in the short term. FEVD results show that Islamic banking financing contributes 1.33 percent to increase economic growth.

Keywords: Islamic monetary instrument, Islamic banking financing channel, economic growth, Vector Error Correction Model (VECM)

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Authors: Jinhoa Lee

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The relationships between environmental quality, energy use and economic output have created growing attention over the past decades among researchers and policy makers. Focusing on the empirical aspects of the role of CO2 emissions and energy use in affecting the economic output, this paper is an effort to fulfil the gap in a comprehensive case study at a country level using modern econometric techniques. To achieve the goal, this country-specific study examines the short-run and long-run relationships among energy consumption, carbon dioxide (CO2) emissions and gross domestic product (GDP) for Oman using time series analysis from the year 1980-2010. To investigate the relationships between the variables, this paper employs the Augmented Dickey Fuller (ADF) test for stationary, Johansen maximum likelihood method for co-integration and a Vector Error Correction Model (VECM) for both short- and long-run causality among the research variables for the sample. All the variables in this study show very strong significant effects on GDP in the country for the long term. The long-run equilibrium in the VECM suggests positive long-run causalities from CO2 emissions to GDP. Conversely, negative impacts of energy consumption on GDP are found to be significant in Oman during the period. In the short run, there exist negative unidirectional causalities among GDP, CO2 emissions and energy consumption running from GDP to CO2 emissions and from energy consumption to CO2 emissions. Overall, the results support arguments that there are relationships among environmental quality, energy use and economic output in Oman over of period 1980-2010.

Keywords: CO2 emissions, energy consumption, GDP, Oman, time series analysis

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Authors: Baoubadi Atozou, Koffi Akakpo

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Since the decade 2000, the use of foodstuffs such as corn, wheat, and soybeans in biofuel production has been growing sharply in the United States, Canada, and Europe. Thus, prices for these agricultural products are rising in the world market. These cereals are the most important source of calorific energy for West African Economic and Monetary Union (WAEMU) countries members’ population. These countries are highly dependent on imports of most of these products. Thereby, rising prices can have an important impact on import levels and consequently on food security in these countries. This study aims to analyze the interrelationship between the prices of these commodities and their volatilities, and their effects on imports of these agricultural products by each WAEMU ’country member. The Autoregressive Distributed Lag (ARDL) model, the GARCH Multivariate model, and the Granger Causality Test are used in this investigation. The results show that import levels are highly and significantly sensitive to price changes as well as their volatility. In the short term as well as in the long term, there is a significant relationship between the prices of these products. There is a positive relationship in general between price volatility. And these volatilities have negative effects on the level of imports. The market characteristics affect food security in these countries, especially access to food for vulnerable and low-income populations. The policies makers must adopt viable strategies to increase agricultural production and limit their dependence on imports.

Keywords: price volatility, import of agricultural products, food safety, WAEMU

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Authors: Samaneh Khalili

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Natural law theory, in moral philosophy, refers to a system of unchanging values held to be mutual to all humans and can be discovered through reason. The natural law theory is commonly associated with western Philosophers. In contrast, discussions on notions of natural law in Islamic intellectual history were relatively rare. This paper aims to show that the moral theory developed by the Mu'tazilite thinkers can be classified in the ideas of natural law. In doing so, this study will demonstrate that the objective and unchanging values, according to Mu'tazilite theologians, provide the guidelines for assessing the Islamic law rules in the field of human coexistence. The focus of the paper lies on ʿAbd al-Ğabbār, who was the most influential thinker in the late epoch of the Muʿtazila. Although ʿAbd al-Ǧabbār did not leave a text with a systematic discussion of natural law, his teaching of nature, human reason, and the moral values of actions are all scattered throughout his work -'al-Muġnī fī abwāb at-tawḥīd wa-l-'adl'. It is necessary to focus on ʿAbd al-Ǧabbār's theories on reason, nature, and ethics since natural law revolves around the basic concepts of nature, reason, and moral value. While analyzing the concept of the Nature, it will attempt to answer how he explains the world's physical structure and God's relationship to natural events. Moreover, from ʿAbd al-Ǧabbār's point of view, is nature a self-determined system that follows its inner principle in every kind of change, or is nature guided by an external power? Does causality govern natural events? About the concept of reason, an attempt is made to examine how human reason, according to ʿAbd al-Ǧabbār, conceives moral attributes. Finally, the Autor will discuss the concepts of objective values and the place of rights and duties derived from Islamic law in ʿAbd al-Ǧabbār's thought.

Keywords: Islamic law, Mu'tazilite theology, natural law in Islamic theology, objective and unchanging values.

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Authors: Abdul Waris Jalili, Yanqing Wang, Som Suor

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This research paper explores the relationship between entrepreneurship education and students' entrepreneurial intentions. It aims to determine if entrepreneurship education reliably predicts students' intention to become entrepreneurs and how and when this relationship occurs. This study aims to investigate the predictive relationship between entrepreneurship education and student entrepreneurial intentions. The goal is to understand the factors that influence this relationship and to identify any mediating or moderating factors. A thorough and systematic search and review of empirical articles published between 2013 and 2023 were conducted. Three databases, Google Scholar, Science Direct, and PubMed, were explored to gather relevant studies. Criteria such as reporting empirical results, publication in English, and addressing the research questions were used to select 35 papers for analysis. The collective findings of the reviewed studies suggest a generally positive relationship between entrepreneurship education and student entrepreneurial intentions. However, recent findings indicate that this relationship may be more complex than previously thought. Mediators and moderators have been identified, highlighting instances where entrepreneurship education indirectly influences student entrepreneurial intentions. The review also emphasizes the need for more robust research designs to establish causality in this field. This research adds to the existing literature by providing a comprehensive review of the relationship between entrepreneurship education and student entrepreneurial intentions. It highlights the complexity of this relationship and the importance of considering mediators and moderators. The study also calls for future research to explore different facets of entrepreneurship education independently and examine complex relationships more comprehensively.

Keywords: entrepreneurship, entrepreneurship education, entrepreneurial intention, entrepreneurial self-efficacy

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Authors: Elhem Zaatir, Taher Hamza

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Several governments seek to implement gender parity on boards, but the results of doing so are not clear and could harm corporations and economies. The present paper aims to investigate the relationship between women’s presence on boards and firms’ performance in the context of the French listed firms during the quota period. A dynamic panel generalized method of moment estimation is applied to control the endogenous effect of board structure and reverse the causality impact of the financial performance. Our results show that the impact of gender diversity manifests in conflicting directions, positively affecting accounting performance and negatively influencing market performance. These results suggest that female directors create economic value, but the market discounts their impact. Apparently, they are subject to a biased evaluation by the market, which undervalues their presence on boards. Added to that, our results confirm a twofold nature of female representation in the French market. The effect of female directorship on firm performance varies with the affiliation of the directors. In other words, the positive impact of gender diversity on return on assets primarily originates from the positive effect of non-family-affiliated women directors on market performance rather than on the effect of family-affiliated women directors on ROA. Finally, according to our results, women’s demographic attributes namely the level of education and multiple directorships strongly and positively impact firm performance as measured by return on assets (ROA). Obviously, women directors seem to be appointed to the business case rather than as token directors.

Keywords: corporate governance, board of directors, women, gender diversity, demographic attributes, firm performance

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Authors: Pranee Suecharoen, Jaturat Kanpittaya

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Background: The incidence of adverse reactions to iodinated contrast media has risen. The dearth of reports on reactions to the administration of iso- and low-osmolar contrast media should be addressed. We, therefore, studied the profile of adverse reactions to iodinated contrast media; viz., (a) the body systems affected (b) causality, (c) severity, and (d) preventability. Objective: To study adverse reactions (causes and severity) to iodinated contrast media at Srinagarind Hospital. Method: Between March and July, 2015, 1,101 patients from the Department of Radiology were observed and interviewed for the occurrence of adverse reactions. The patients were classified per Naranjo’s algorithm and through use of an adverse reactions questionnaire. Results: A total of 105 cases (9.5%) reported adverse reactions (57% male; 43% female); among whom 2% were iso-osmolar vs. 98% low-osmolar. Diagnoses included hepatoma and cholangiocarcinoma (24.8%), colorectal cancer (9.5%), breast cancer (5.7%), cervical cancer (3.8%), lung cancer (2.9%), bone cancer (1.9%), and others (51.5%). Underlying diseases included hypertension and diabetes mellitus type 2. Mild, moderate, and severe adverse reactions accounted for 92, 5 and 3%, respectively. The respective groups of escalating symptoms included (a) mild urticaria, itching, rash, nausea, vomiting, dizziness, and headache; (b) moderate hypertension, hypotension, dyspnea, tachycardia and bronchospasm; and (c) severe laryngeal edema, profound hypotension, and convulsions. All reactions could be anticipated per Naranjo’s algorithm. Conclusion: Mild to moderate adverse reactions to low-osmolar contrast media were most common and these occurred immediately after administration. For patient safety and better outcomes, improving the identification of patients likely to have an adverse reaction is essential.

Keywords: adverse reactions, contrast media, computed tomography, iodinated contrast agents

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Authors: Kamyar Moradi

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Background: Acute mesenteric ischemia is known as a life-threatening condition. Re-establishment of blood flow in this condition can lead to mesenteric ischemia reperfusion (MIR) injury, which is accompanied by inflammatory response. Still, clear blueprint of inflammatory mechanism underlying MIR injury has not been provided. Interestingly, Albendazole has exhibited notable effects on inflammation and cytokine production. In this study, we aimed to evaluate outcomes of MIR injury following pretreatment with Albendazole with respect to assessment of mesenteric inflammation and ischemia threshold. Methods: Male rats were randomly divided into sham operated, vehicle treated, Albendazole 100 mg/kg, and Albendazole 200 mg/kg groups. MIR injury was induced by occlusion of superior mesenteric artery for 30 minutes followed by 120 minutes of reperfusion. Samples were utilized for assessment of epithelial survival and villous height. Immunohistochemistry study revealed intestinal expression of TNF-α and HIF-1-α. Gene expression of NF-κB/TLR4/TNF-α/IL-6 was measured using RTPCR. Also, protein levels of inflammatory cytokines in serum and intestine were assessed by ELISA method. Results: Histopathological study demonstrated that pretreatment with Albendazole could ameliorate decline in villous height and epithelial survival following MIR injury. Also, systemic inflammation was suppressed after administration of Albendazole. Analysis of possible participating inflammatory pathway could demonstrate that intestinal expression of NF-κB/TLR4/TNF-α/IL-6 is significantly attenuated in treated groups. Eventually, IHC study illustrated concordant decline in mesenteric expression of HIF-1-α/TNF-α. Conclusion: Single dose pretreatment with Albendazole could ameliorate inflammatory response and enhance ischemia threshold following induction of MIR injury. Still, more studies would clarify existing causality in this phenomenon.

Keywords: albendazole, ischemia reperfusion injury, inflammation, mesenteric ischemia

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Authors: Muhammad Siddique, Volodymyr Lugovskyy

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This paper explores how nations might mitigate the unfavorable impacts of oil price volatility on economic growth by switching to renewable energy sources. The impacts of uncertain factor prices on economic activity are examined by looking at the Realized Volatility (RV) of oil prices rather than the more traditional method of looking at oil price shocks. The United States of America (USA), China (C), India (I), United Kingdom (UK), Germany (G), Malaysia (M), and Pakistan (P) are all included to round out the traditional literature's examination of selected nations, which focuses on oil-importing and exporting economies. Granger Causality Tests (GCT), Impulse Response Functions (IRF), and Variance Decompositions (VD) demonstrate that in a Vector Auto-Regressive (VAR) scenario, the negative impacts of oil price volatility extend beyond what can be explained by oil price shocks alone for all of the nations in the sample. Different nations have different levels of vulnerability to changes in oil prices and other factors that may play a role in a sectoral composition and the energy mix. The conventional method, which only takes into account whether a country is a net oil importer or exporter, is inadequate. The potential economic advantages of initiatives to decouple the macroeconomy from volatile commodities markets are shown through simulations of volatility shocks in alternative energy mixes (with greater proportions of renewables). It is determined that in developing countries like Pakistan, increasing the use of renewable energy sources might lessen an economy's sensitivity to changes in oil prices; nonetheless, a country-specific study is required to identify particular policy actions. In sum, the research provides an innovative justification for mitigating economic growth's dependence on stable oil prices in our sample countries.

Keywords: oil price volatility, renewable energy, economic growth, developed and developing economies

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Authors: Jackson Niyongabo

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This study addresses a notable gap in the existing literature on the relationship between energy consumption, economic growth, and CO₂ emissions, particularly within the African context. While numerous studies have explored these dynamics globally and regionally across various development levels, few have delved into the nuances of regions and income levels specific to African countries. Furthermore, the evaluation of the interplay between green growth policies, green energy technologies, and their impact on environmental quality has been underexplored. This research aims to fill these gaps by conducting a comprehensive analysis of the transition from conventional economic growth and energy consumption to a paradigm of green growth coupled with green energy utilization across the African continent from 1980 to 2018. The study is structured into three main parts: an empirical examination of the long-term effects of energy intensity, renewable energy consumption, and economic growth on CO₂ emissions across diverse African regions and income levels; an estimation of the long-term impact of green growth and green energy use on CO₂ emissions for countries implementing green policies within Africa, as well as at regional and global levels; and a comparative analysis of the impact of green growth policies on environmental degradation before and after implementation. Employing advanced econometric methods and panel estimators, the study utilizes a testing framework, panel unit tests, and various estimators to derive meaningful insights. The anticipated results and conclusions will be elucidated through causality tests, impulse response, and variance decomposition analyses, contributing valuable knowledge to the discourse on sustainable development in the African context.

Keywords: economic growth, green growth, energy consumption, CO₂ emissions, econometric models, green energy

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Authors: Anat Keller

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Given that macro-prudential supervision is a relatively new policy area and its empirical and analytical research are still in their infancy, its theoretical foundations are also lagging behind. This paper contributes to the developing discussion on effective legal and institutional macroprudential supervision frameworks. In the first part of the paper, it is argued that effectiveness as a key benchmark poses some challenges in the context of macroprudential supervision such as the difficulty in proving causality between supervisory actions and the achievement of the supervisor’s mission. The paper suggests that effectiveness in the macroprudential context should, therefore, be assessed at the supervisory decision-making process (to be differentiated from the supervisory outcomes). The second part of the essay examines whether insights from behavioural economics can point to biases in the macroprudential decision-making process. These biases include, inter alia, preference bias, groupthink bias and inaction bias. It is argued that these biases are exacerbated in the multilateral setting of the macroprudential supervision framework in the EU. The paper then examines how legal and institutional frameworks should be designed to acknowledge and perhaps contain these identified biases. The paper suggests that the effectiveness of macroprudential policy will largely depend on the existence of clear and robust transparency and accountability arrangements. Accountability arrangements can be used as a vehicle for identifying and addressing potential biases in the macro-prudential framework, in particular, inaction bias. Inclusiveness of the public in the supervisory process in the form of transparency and awareness of the logic behind policy decisions may assist in minimising their potential unpopularity thus promoting their effectiveness. Furthermore, a governance structure which facilitates coordination of the macroprudential supervisor with other policymakers and incorporates outside perspectives and opinions could ‘break-down’ groupthink bias as well as inaction bias.

Keywords: behavioural economics and biases, effectiveness of macroprudential supervision, legal and institutional macroprudential frameworks, macroprudential decision-making process

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Authors: Vitus Onyebuchim Onyemailu, Olive Obianuju Okalibe

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The study tried to examine relationship between exchange rate variations on the balance of payments in Nigeria from 1970 to 2012. Using time series on econometric measures such as Granger causality and ordinary least square (OLS), the study found that exchange rate movements especially the depreciation of naira has not contributed significantly on the balance of payments under the year of the study. The granger result conform the Marshall-Lerner short and long run prepositions that exchange rate devaluation enhances balance of payments. On disaggregation exchange rate granger causes current and capital account balances give the Nigeria data from 1970 to 2012. Overall in the long run OLS regression analysis, exchange rate on semi log functional form, exchange rate variation did not record significant effect on balance of payment equation. This height was also maintained in the current or trade balance which does not match the Marshall-Lerner. The capital account balance in reverse reported a significant impact of exchange rate variability on the capital account balance. Finally, on exchange rate determination equation, where many fundamentals were considered including lagged of exchange rate. Thus, the lagged of exchange rate recorded a positive and significant influence on the present exchange rate. This means that players in the financial markets usually out plays authority’s policy’s stances through their speculative tendencies. The work therefore, recommend that effort should be made by the authorities to providing enabling environment for production of goods and services to triumph in order to take advantages of steady devaluation of its currency. This is done by providing infrastructure, provision of science and technology. Thus, when this is done Nigeria would be able to have competitive power against the rest of the world.

Keywords: exchange rate variation, balance of payments, current account, capital account, Marshall-Lerner hypothesis

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Authors: Hyelim Park, Juan Martin Zorrilla

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Climate change influences very widely and in various ways ocean ecosystem functioning. The consequences of climate change on marine ecosystems are an increase in temperature and irregular behavior of some solute concentrations. These changes would affect fisheries catches in several ways. Our aim is to assess the quantitative contribution change of fishery catches along the time and express them through four environment variables: Sea Surface Temperature (SST4) and the concentrations of Chlorophyll (CHL), Particulate Inorganic Carbon (PIC) and Particulate Organic Carbon (POC) at two spatial scales: Global and the nineteen FAO Major Fishing Areas divisions. Data collection was based on the FAO FishStatJ 2014 database as well as MODIS Aqua satellite observations from 2002 to 2012. Some data had to be corrected and interpolated using some existing methods. As the results, a multivariable regression model for average Global fisheries captures contained temporal mean of SST4, standard deviation of SST4, standard deviation of CHL and standard deviation of PIC. Global vector auto-regressive (VAR) model showed that SST4 was a statistical cause of global fishery capture. To accommodate varying conditions in fishery condition and influence of climate change variables, a model was constructed for each FAO major fishing area. From the management perspective it should be recognized some limitations of the FAO marine areas division that opens to possibility to the discussion of the subdivision of the areas into smaller units. Furthermore, it should be treated that the contribution changes of fishery species and the possible environment factor for specific species at various scale levels.

Keywords: fisheries-catch, FAO FishStatJ, MODIS Aqua, sea surface temperature (SST), chlorophyll, particulate inorganic carbon (PIC), particulate organic carbon (POC), VAR, granger causality

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Authors: Nour Mohamad Fayad

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Complex and extensively researched, the impact of corruption on economic growth seems to be intricate. Many experts believe that corruption reduces economic development. However, counterarguments have suggested that corruption either promotes growth and development or has no significant impact on economic performance. Clearly, there is no consensus in the economics literature regarding the possible relationship between corruption and economic development. Corruption's complex and clandestine nature, which makes it difficult to define and measure, is one of the obstacles that must be overcome when investigating its effect on an economy. In an attempt to contribute to the ongoing debate, this study examines the impact of corruption on economic growth in the Middle East and North Africa (MENA) region between 2000 and 2021 using a Customized Corruption Index-CCI and panel data on MENA countries. These countries were selected because they are understudied in the economic literature, and despite the World Bank's recent emphasis on corruption in the developing world, the MENA countries have received little attention. The researcher used Cobb-Douglas functional form to test corruption in MENA using a customized index known as Customized Corruption Index-CCI to track corruption over almost 20 years, then used the dynamic panel data. The findings indicate that there is a positive correlation between corruption and economic growth, but this is not consistent across all MENA nations. First, the relatively recent lack of data from MENA nations. This issue is related to the inaccessibility of data for many MENA countries, particularly regarding the returns on resources, private malfeasance, and other variables in Gulf countries. In addition, the researcher encountered several restrictions, such as electricity and internet outages, due to the fact that he is from Lebanon, a country whose citizens have endured difficult living conditions since the Lebanese crisis began in 2019. Demonstrating a customized index known as Customized Corruption Index-CCI that suits the characteristics of MENA countries to peculiarly measure corruption in this region, the outcome of the Customized Corruption Index-CCI is then compared to the Corruption Perception Index-CPI and Control of Corruption from World Governance Indicator-CC from WGI.

Keywords: corruption, economic growth, corruption measurements, empirical review, impact of corruption

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Authors: Monalisha Ghosh, Asit Mohanty

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The lack of sanitation increases living costs, decreases spend on education and nutrition, lowers income earning potential, and threatens safety and welfare. This is especially true for rural India. Only 32% of rural households have their own toilets and that less than half of Indian households have a toilet at home. Of the estimated billion people in the world who defecate in the open, more than half reside in rural India. It is empirically established that poor sanitation leads to high infant mortality rate and low income generation in rural India. In India, 1,600 children die every day before reaching their fifth birthday and 24% of girls drop out of school as the lack of basic sanitation. Above all, lack of sanitation is not a symptom of poverty but a major contributing factor. According to census 2011, 67.3% of the rural households in the country still did not have access to sanitation facilities. India’s sanitation deficit leads to losses worth roughly 6% of its gross domestic product (GDP) according to World Bank estimates by raising the disease burden in the country. The dropout rate for girl child is thirty percent in schools in rural areas because of lack of sanitation facilities for girl students. The productivity loss per skilled labors during a year is calculated at Rs.44, 160 in Odisha. The performance of the state of Odisha has not been satisfactory in improving sanitation facilities. The biggest challenge is triggering behavior change in vast section of rural population regarding need to use toilets. Another major challenge is funding and implementation for improvement of sanitation facility. In an environment of constrained economic resources, Public Private Partnership in form of performance based management or maintenance contract will be all the more relevant to improve the sanitation status in rural sector.

Keywords: rural sanitation, infant mortality rate, income, granger causality, pooled OLS method test public private partnership

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Authors: Vahid Ebrahimipour

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Word representation and context meaning of text-based documents play an essential role in knowledge modeling. Business procedures written in natural language are meant to store technical and engineering information, management decision and operation experience during the production system life cycle. Context meaning representation is highly dependent upon word sense, lexical relativity, and sematic features of the argument. This paper proposes a method for lexical semantic analysis and context meaning representation of maintenance activity in a mass production system. Our approach constructs a straightforward lexical semantic approach to analyze facilitates semantic and syntactic features of context structure of maintenance report to facilitate translation, interpretation, and conversion of human-readable interpretation into computer-readable representation and understandable with less heterogeneity and ambiguity. The methodology will enable users to obtain a representation format that maximizes shareability and accessibility for multi-purpose usage. It provides a contextualized structure to obtain a generic context model that can be utilized during the system life cycle. At first, it employs a co-occurrence-based clustering framework to recognize a group of highly frequent contextual features that correspond to a maintenance report text. Then the keywords are identified for syntactic and semantic extraction analysis. The analysis exercises causality-driven logic of keywords’ senses to divulge the structural and meaning dependency relationships between the words in a context. The output is a word contextualized representation of maintenance activity accommodating computer-based representation and inference using OWL/RDF.

Keywords: lexical semantic analysis, metadata modeling, contextual meaning extraction, ontology modeling, knowledge representation

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Authors: Apra Sinha

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The inverted U-shaped Environmental Kuznets curve (EKC) demonstrates(pollution-income relationship)that initially the pollution and environmental degradation surpass the level of income per capita; however this trend reverses since at the higher income levels, economic growth initiates environmental upgrading. However, what effect does increased environmental degradation has on growth is the missing feedback link which has not been addressed in the EKC hypothesis. This paper examines the missing feedback link in EKC hypothesis in Indian context by examining the casual association between fossil fuel consumption, carbon dioxide emissions and economic growth for India. Fossil fuel consumption here has been taken as a proxy of driver of economic growth. The casual association between the aforementioned variables has been analyzed using five interventions namely 1) urban development for which urbanization has been taken proxy 2) industrial development for which industrial value added has been taken proxy 3) trade liberalization for which sum of exports and imports as a share of GDP has been taken as proxy 4)financial development for which a)domestic credit to private sector and b)net foreign assets has been taken as proxies. The choice of interventions for this study has been done keeping in view the economic liberalization perspective of India. The main aim of the paper is to investigate the missing feedback link for Environmental Kuznets Curve Hypothesis before and after incorporating the intervening variables. The period of study is from 1971 to 2011 as it covers pre and post liberalization era in India. All the data has been taken from World Bank country level indicators. The Johansen and Juselius cointegration testing methodology and Error Correction based Granger causality have been applied on all the variables. The results clearly show that out of five interventions, only in two interventions the missing feedback link is being addressed. This paper can put forward significant policy implications for environment protection and sustainable development.

Keywords: environmental Kuznets curve hypothesis, fossil fuel consumption, industrialization, trade liberalization, urbanization

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Authors: Srinaath Anbu Durai, Wang Zhaoxia

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Twitter sentiment has been used as a predictor to predict price values or trends in both the stock market and housing market. The pioneering works in this stream of research drew upon works in behavioural economics to show that sentiment or emotions impact economic decisions. Latest works in this stream focus on the algorithm used as opposed to the data used. A literature review of works in this stream through the lens of data used shows that there is a paucity of work that considers the impact of sentiments caused due to an external factor on either the stock or the housing market. This is despite an abundance of works in behavioural economics that show that sentiment or emotions caused due to an external factor impact economic decisions. To address this gap, this research studies the impact of Twitter sentiment pertaining to the Covid-19 pandemic on resale Housing Development Board (HDB) apartment prices in Singapore. It leverages SNSCRAPE to collect tweets pertaining to Covid-19 for sentiment analysis, lexicon based tools VADER and TextBlob are used for sentiment analysis, Granger Causality is used to examine the relationship between Covid-19 cases and the sentiment score, and neural networks are leveraged as prediction models. Twitter sentiment pertaining to Covid-19 as a predictor of HDB price in Singapore is studied in comparison with the traditional predictors of housing prices i.e., the structural and neighbourhood characteristics. The results indicate that using Twitter sentiment pertaining to Covid19 leads to better prediction than using only the traditional predictors and performs better as a predictor compared to two of the traditional predictors. Hence, Twitter sentiment pertaining to an external factor should be considered as important as traditional predictors. This paper demonstrates the real world economic applications of sentiment analysis of Twitter data.

Keywords: sentiment analysis, Covid-19, housing price prediction, tweets, social media, Singapore HDB, behavioral economics, neural networks

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Authors: N. Casado-Sanz, B. Guirao

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The population aged 65 and over is projected to double in the coming decades. Due to this increase, driver population is expected to grow and in the near future, all countries will be faced with population aging of varying intensity and in unique time frames. This is the greatest challenge facing industrialized nations and due to this fact, the study of the relationships of dependency between population aging and road safety is becoming increasingly relevant. Although the deterioration of driving skills in the elderly has been analyzed in depth, to our knowledge few research studies have focused on the road infrastructure and the mobility of this particular group of users. In Spain, crosstown roads have one of the highest fatality rates. These rural routes have a higher percentage of elderly people who are more dependent on driving due to the absence or limitations of urban public transportation. Analysing road safety in these routes is very complex because of the variety of the features, the dispersion of the data and the complete lack of related literature. The objective of this paper is to identify key factors that cause traffic accidents. The individuals under study were the accidents with killed or seriously injured in Spanish crosstown roads during the period 2006-2015. Latent cluster analysis was applied as a preliminary tool for segmentation of accidents, considering population aging as the main input among other socioeconomic indicators. Subsequently, a linear regression analysis was carried out to estimate the degree of dependence between the accident rate and the variables that define each group. The results show that segmenting the data is very interesting and provides further information. Additionally, the results revealed the clear influence of the aging variable in the clusters obtained. Other variables related to infrastructure and mobility levels, such as the crosstown roads layout and the traffic intensity aimed to be one of the key factors in the causality of road accidents.

Keywords: cluster analysis, population ageing, rural roads, road safety

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Authors: Carolyn Scott, Rachel Nugent

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The agricultural industry in Ireland and worldwide is one of the most dangerous occupations with respect to occupational health and safety accidents and fatalities. Many accident causation models have been developed in safety research to understand the underlying and contributory factors that lead to the occurrence of an accident. Due to the uniqueness of the agricultural sector, current accident causation theories cannot be applied. This paper presents an accident causation model named the Irish Farm Accident Causation Model (IFACM) which has been specifically tailored to the needs of Irish farms. The IFACM is a theoretical and practical model of accident causation that arranges the causal factors into a graphic representation of originating, shaping, and contributory factors that lead to accidents when unsafe acts and conditions are created that are not rectified by control measures. Causes of farm accidents were assimilated by means of a thorough literature review and were collated to form a graphical representation of the underlying causes of a farm accident. The IFACM was validated retrospectively through case study analysis and peer review. Participants in the case study (n=10) identified causes that led to a farm accident in which they were involved. A root cause analysis was conducted to understand the contributory factors surrounding the farm accident, traced back to the ‘root cause’. Experts relevant to farm safety accident causation in the agricultural industry have peer reviewed the IFACM. The accident causation process is complex. Accident prevention requires a comprehensive understanding of this complex process because to prevent the occurrence of accidents, the causes of accidents must be known. There is little research on the key causes and contributory factors of unsafe behaviours and accidents on Irish farms. The focus of this research is to gain a deep understanding of the causality of accidents on Irish farms. The results suggest that the IFACM framework is helpful for the analysis of the causes of accidents within the agricultural industry in Ireland. The research also suggests that there may be international applicability if further research is carried out. Furthermore, significant learning can be obtained from considering the underlying causes of accidents.

Keywords: farm safety, farm accidents, accident causation, root cause analysis

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Authors: Francis Mark A. Fernandez, Chelca Ubay, Armithan Suguitan

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Regions or provinces in a definite state certainly contribute to the economy of their mainland. These regions or provinces are the ones supplying the mainland with different resources and assets. Thus, with a certain region separating from the mainland would indeed impinge the heart of an entire state to develop and expand. With these, the researchers decided to study on the effects of the separation of one’s region to its mainland and the consequences that will take place if the mainland would rule out the region to separate from them. The researchers wrote this paper to present the causes of the separation of Catalonia from Spain and the prediction regarding the pursuance of this region to revolt from its mainland, Spain. In conducting this research, the researchers utilized two analyses, namely: qualitative and quantitative. In qualitative, numerous of information regarding the existing experiences of the citizens of Catalonia were gathered by the authors to give certainty to the prediction of the researchers. Besides this undertaking, the researchers will also gather needed information and figures through books, journals and the published news and reports. In addition, to further support this prediction under qualitative analysis, the researchers intended to operate the Phenomenological research in which the examiners will exemplify the lived experiences of each citizen in Catalonia. Moreover, the researchers will utilize one of the types of Phenomenological research which is hermeneutical phenomenology by Van Manen. In quantitative analysis, the researchers utilized the regression analysis in which it will ascertain the causality in an underlying theory in understanding the relationship of the variables. The researchers assigned and identified different variables, wherein the dependent variable or the y which represents the prediction of the researchers, the independent variable however or the x represents the arising problems that grounds the partition of the region, the summation of the independent variable or the ∑x represents the sum of the problem and finally the summation of the dependent variable or the ∑y is the result of the prediction. With these variables, using the regression analysis, the researchers will be able to show the connections and how a single variable could affect the other variables. From these approaches, the prediction of the researchers will be specified. This research could help different states dealing with this kind of problem. It will further help certain states undergoing this problem by analyzing the causes of these insurgencies and the effects on it if it will obstruct its region to consign their full-pledge autonomy.

Keywords: autonomy, liberty, prediction, separation

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Authors: Guillaume P. Fernandez

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Individual language use is a matter of choice in particular interactions. The paper proposes a conceptual and theoretical framework with methodological consideration to develop how language produced in dyadic relations is to be considered and situated in the larger social configuration the interaction is embedded within. An integrated and comprehensive view is taken: social interactions are expected to be ruled by a normative context, defined by the chain of interdependences that structures the personal network. In this approach, the determinants of discursive practices are not only constrained by the moment of production and isolated from broader influences. Instead, the position the individual and the dyad have in the personal network influences the discursive practices in a twofold manner: on the one hand, the network limits the access to linguistic resources available within it, and, on the other hand, the structure of the network influences the agency of the individual, by the social control inherent to particular network characteristics. Concretely, we investigate how and to what extent consistent ego is from one interaction to another in his or her use of adverbs. To do so, social network analysis (SNA) methods are mobilized. Participants (N=130) are college students recruited in the french speaking part of Switzerland. The personal network of significant ones of each individual is created using name generators and edge interpreters, with a focus on social support and conflict. For the linguistic parts, respondents were asked to record themselves with five of their close relations. From the recordings, we computed an average similarity score based on the adverb used across interactions. In terms of analyses, two are envisaged: First, OLS regressions including network-level measures, such as density and reciprocity, and individual-level measures, such as centralities, are performed to understand the tenets of linguistic similarity from one interaction to another. The second analysis considers each social tie as nested within ego networks. Multilevel models are performed to investigate how the different types of ties may influence the likelihood to use adverbs, by controlling structural properties of the personal network. Primary results suggest that the more cohesive the network, the less likely is the individual to change his or her manner of speaking, and social support increases the use of adverbs in interactions. While promising results emerge, further research should consider a longitudinal approach to able the claim of causality.

Keywords: personal network, adverbs, interactions, social influence

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Authors: R. Bhattu Babajee, Marie Sandrine Estelle Benoit

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The past decades have witnessed a considerable institutional shift towards Central Bank Independence across economies of the world. The motivation behind such a change is the acceptance that increased central bank autonomy has the power of alleviating inflation bias. Hence, studying whether Central Bank Independence acts as a significant factor behind the price stability in the African economies or whether this macroeconomic aim in these countries result from other economic, political or social factors is a pertinent issue. The main research objective of this paper is to assess the relationship between central bank autonomy and inflation in African economies where inflation has proved to be a serious problem. In this optic, we shall measure the degree of CBI in Africa by computing the turnover rates of central banks governors thereby studying whether decisions made by African central banks are affected by external forces. The purpose of this study is to investigate empirically the association between Central Bank Independence (CBI) and inflation for 10 African economies over a period of 17 years, from 1995 to 2012. The sample includes Botswana, Egypt, Ghana, Kenya, Madagascar, Mauritius, Mozambique, Nigeria, South Africa, and Uganda. In contrast to empirical research, we have not been using the usual static panel model for it is associated with potential mis specification arising from the absence of dynamics. To this issue a dynamic panel data model which integrates several control variables has been used. Firstly, the analysis includes dynamic terms to explain the tenacity of inflation. Given the confirmation of inflation inertia, that is very likely in African countries there exists the need for including lagged inflation in the empirical model. Secondly, due to known reverse causality between Central Bank Independence and inflation, the system generalized method of moments (GMM) is employed. With GMM estimators, the presence of unknown forms of heteroskedasticity is admissible as well as auto correlation in the error term. Thirdly, control variables have been used to enhance the efficiency of the model. The main finding of this paper is that central bank independence is negatively associated with inflation even after including control variables.

Keywords: central bank independence, inflation, macroeconomic variables, price stability

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Authors: Ourvashi Bissoon

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Sub-Saharan Africa in addition to being resource rich is increasingly being seen as having a huge growth potential and as a result, is increasingly attracting MNEs on its soil. To empirically assess the effectiveness of GDP in tracking sustainable resource use and the role played by MNEs in Sub-Saharan Africa, a panel data analysis has been undertaken for 32 countries over thirty-five years. The time horizon spans the period 1980-2014 to reflect the evolution from before the publication of the pioneering Brundtland report on sustainable development to date. Multinationals’ presence is proxied by the level of FDI stocks. The empirical investigation first focuses on the impact of trade openness and MNE presence on the traditional measure of economic growth namely the GDP growth rate, and then on the genuine savings (GS) rate, a measure of weak sustainability developed by the World Bank, which assumes the substitutability between different forms of capital and finally, the impact on the adjusted Net National Income (aNNI), a measure of green growth which caters for the depletion of natural resources is examined. For countries with significant exhaustible natural resources and important foreign investor presence, the adjusted net national income (aNNI) can be a better indicator of economic performance than GDP growth (World Bank, 2010). The issue of potential endogeneity and reverse causality is also addressed in addition to robustness tests. The findings indicate that FDI and openness contribute significantly and positively to the GDP growth of the countries in the sample; however there is a threshold level of institutional quality below which FDI has a negative impact on growth. When the GDP growth rate is substituted for the GS rate, a natural resource curse becomes evident. The rents being generated from the exploitation of natural resources are not being re-invested into other forms of capital namely human and physical capital. FDI and trade patterns may be setting the economies in the sample on a unsustainable path of resource depletion. The resource curse is confirmed when utilising the aNNI as well, thus implying that GDP growth measure may not be a reliable to capture sustainable development.

Keywords: FDI, sustainable development, genuine savings, sub-Saharan Africa

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Authors: Layal Mansour

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The aim of this paper is to identify whether oil price volatility or geopolitical risks can predict future financial stress periods or economic recessions in Kuwait. We construct the first Financial Stress Index for Kuwait (FSIK) that includes informative vulnerable indicators of the main financial sectors: the banking sector, the equities market, and the foreign exchange market. The study covers the period from 2000 to 2020, so it includes the two recent most devastating world economic crises with oil price fluctuation: the Covid-19 pandemic crisis and Ukraine-Russia War. All data are taken by the central bank of Kuwait, the World Bank, IMF, DataStream, and from Federal Reserve System St Louis. The variables are computed as the percentage growth rate, then standardized and aggregated into one index using the variance equal weights method, the most frequently used in the literature. The graphical FSIK analysis provides detailed information (by dates) to policymakers on how internal financial stability depends on internal policy and events such as government elections or resignation. It also shows how monetary authorities or internal policymakers’ decisions to relieve personal loans or increase/decrease the public budget trigger internal financial instability. The empirical analysis under vector autoregression (VAR) models shows the dynamic causal relationship between the oil price fluctuation and the Kuwaiti economy, which relies heavily on the oil price. Similarly, using vector autoregression (VAR) models to assess the impact of the global geopolitical risks on Kuwaiti financial stability, results reveal whether Kuwait is confronted with or sheltered from geopolitical risks. The Financial Stress Index serves as a guide for macroprudential regulators in order to understand the weakness of the overall Kuwaiti financial market and economy regardless of the Kuwaiti dinar strength and exchange rate stability. It helps policymakers predict future stress periods and, thus, address alternative cushions to confront future possible financial threats.

Keywords: Kuwait, financial stress index, causality test, VAR, oil price, geopolitical risks

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Authors: Duncan Fraser

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A 3-Dimensional (3D) conceptual site model was developed using the Leapfrog Works® platform utilising a comprehensive historical dataset for a large former Gasworks site in Fitzroy, Melbourne. The gasworks had been constructed across two fractured geological units with varying hydraulic conductivities. A Newer Volcanic (basaltic) outcrop covered approximately half of the site and was overlying a fractured Melbourne formation (Siltstone) bedrock outcropping over the remaining portion. During the investigative phase of works, a dense non-aqueous phase liquid (DNAPL) plume (coal tar) was identified within both geological units in the subsurface originating from multiple sources, including gasholders, tar wells, condensers, and leaking pipework. The first stage of model development was undertaken to determine the horizontal and vertical extents of the coal tar in the subsurface and assess the potential causality between potential sources, plume location, and site geology. Concentrations of key contaminants of interest (COIs) were also interpolated within Leapfrog to refine the distribution of contaminated soils. The model was subsequently used to develop a robust soil remediation strategy and achieve endorsement from an Environmental Auditor. A change in project scope, following the removal and validation of the three former gasholders, necessitated the additional excavation of a significant volume of residual contaminated rock to allow for the future construction of two-story underground basements. To assess financial liabilities associated with the offsite disposal or thermal treatment of material, the 3D model was updated with three years of additional analytical data from the active remediation phase of works. Chemical concentrations and the residual tar plume within the rock fractures were modelled to pre-classify the in-situ material and enhance separation strategies to prevent the unnecessary treatment of material and reduce costs.

Keywords: 3D model, contaminated land, Leapfrog, remediation

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