Search results for: economic opportunities

Authors: Djurdjica Perovic, Sanja Pekovic, Tatjana Stanovcic, Jovana Vukcevic

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Tourism development in rural areas calls for a discussion of strategies that would attract more tourists. Several scholars argue that rural areas may become more attractive to tourists by leveraging their cultural heritage. The present paper explores the development of sustainable heritage tourism practices in transitional societies of the Western Balkans, specifically targeting Montenegrin rural areas. It addresses the sustainable tourism as a shift in business paradigm, enhancing the centrality of the host community, fostering the encounters with local culture, customs and heritage and minimizing the environmental and social impact. Disseminating part of the results of the interdisciplinary KATUN project, the paper explores the diversification of economic activities related to the cultural heritage of katuns (temporary settlements in Montenegrin mountainous regions where the agricultural households stay with livestock during the summer season) through sustainable agro-tourism. It addresses the role of heritage tourism in creating more dynamic economy of under-developed mountain areas, new employment opportunities, sources of income for the local community and more balanced regional development, all based on the principle of sustainability. Based on the substantial field research (including interviews with over 50 households and tourists, as well as the number of stakeholders such as relevant Ministries, business communities and media representatives), the paper analyses the strategies employed in raising the awareness and katun-sensitivity of both national and international tourists and stimulating their interest in sustainable agriculture, rural tourism and cultural heritage of Montenegrin mountain regions. Studying the phenomena of responsible tourism and tourists’ consumerist consciousness in Montenegro through development of katuns should allow evaluating stages of sustainability and cultural heritage awareness, closely intertwined with the EU integration processes in the country. Offering deeper insight at the relationship between rural tourism, sustainable agriculture and cultural heritage, the paper aims to understand if cultural heritage of the area is valuable for agro-tourism development and in which context.

Keywords: heritage tourism, sustainable tourism, added value, Montenegro

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Authors: Aziz Rezapour, Abdosaleh Jafari, Marziye Hadian, Elaheh Mazaheri

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Introduction: Cardiac rehabilitation is an accurate educational and sporting program designed to help heart patients to increase their physical activities and reduce the risk factors that make their health worse and help to a healthier lifestyle so that they can return to their families and society with a better spirit. The aim of this study was to examine the cost-effectiveness and cost-utility of cardiac rehabilitation programs for patients with cardiovascular diseases. Methods: In the present review study, published articles related to cost-effectiveness and cost-utility of cardiac rehabilitation programs for patients with cardiovascular diseases within the time interval between 2004 and 2019 were searched using electronic databases. The methodological quality of the structure of articles was examined by Drummond’s standard checklist. Results: The results of reviewing studies showed that most of the studies related to the economic evaluation of cardiac rehabilitation programs in patients with cardiovascular disease were flawed in Drummond’s criteria, and only one study adhered to Drummond’s criteria. The results of the present study indicated use of cardiac rehabilitation programs in patients with cardiovascular disease was cost-effective. Conclusion: The results of this review study showed that although the results of the studies were different in terms of a number of aspects, such as the study perspective, the time horizons, and the costs of rehabilitation programs, they achieved a similar conclusion, they concluded that the use of cardiac rehabilitation programs in patients with cardiovascular diseases, leading to higher quality-adjusted life years (QALYs) and lower costs.

Keywords: economic evaluation, systematic review, cardiac rehabilitation, Drummond’s checklist

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Authors: Darren Zou

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Forecasting the stock market is a very challenging task. Various economic indicators such as GDP, exchange rates, interest rates, and unemployment have a substantial impact on the stock market. Time series models are the traditional methods used to predict stock market changes. In this paper, a machine learning method, Bayesian Additive Regression Tree (BART) is used in predicting stock market indexes based on multiple economic indicators. BART can be used to model heterogeneous treatment effects, and thereby works well when models are misspecified. It also has the capability to handle non-linear main effects and multi-way interactions without much input from financial analysts. In this research, BART is proposed to provide a reliable prediction on day-to-day stock market activities. By comparing the analysis results from BART and with time series method, BART can perform well and has better prediction capability than the traditional methods.

Keywords: BART, Bayesian, predict, stock

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Authors: Arianne Van Der Wal, Femke Van Horen, Amir Grinstein

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Consumers in today’s world are confronted with the alarming consequences of unsustainable behavior such as pollution and resource degradation. In addition, they are facing an increase in uncertainty due to, for instance, economic instability and terror attacks. Although these two problems are central to consumers’ lives, occur on a global scale, and have significant impact on the world’s political, economic, environmental, and social landscapes, they have not been systematically studied in tandem before. Contributing to research on persuasion and pro-social behavior, this paper shows in five studies (three experimental studies and one field study) that the two problems are intertwined. We demonstrate that uncertainty leads to lower sustainable behavior in comparison to certainty (Studies 1 and 2) and that this is due to consumers displaying higher levels of temporal discounting (i.e., adopting a more immediate orientation; Study 2). Finally, providing valuable implications for policy makers and responsible marketers, we show that emphasizing the immediate benefits of sustainable behavior during uncertainty buffers the negative effect (Studies 3 and 4).

Keywords: sustainable behavior, uncertainty, temporal discounting, framing

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Authors: Amarasinghe Shashikala, Pramudika Hansini, Fernando Tajan, Rathnayake Piyumi

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This study investigates the prominence of the social entrepreneurship (SE) model over the sustainable entrepreneurship model among Sri Lankan exporters in the small and medium enterprise (SME) sector. The primary objective of this study is to explore how the unique socio-economic contextual nuances of the country influence this behavior. The study employs a multiple-case study approach, collecting data from thirteen SEs in the SME sector. The findings reveal a significant alignment between SE and the lifestyle of the people in Sri Lanka, attributed largely to its deep-rooted religious setting and cultural norms. A crucial factor driving the prominence of SE is the predominantly labor-intensive nature of production processes within the exporters of the SME sector. These processes inherently lend themselves to SE, providing employment opportunities and fostering community engagement. Further, SE initiatives substantially resonate with community-centric practices, making them more appealing and accessible to the local populace. In contrast, the findings highlight a dilemma between cost-effectiveness and sustainable entrepreneurship. Transitioning to sustainable export products and production processes is demanded by foreign buyers and acknowledged as essential for environmental stewardship, which often requires capital-intensive makeovers. This investment inevitably raises the overall cost of the export product, making it less competitive in the global market. Interestingly, the study notes a disparity between international demand for sustainable products and the willingness of buyers to pay a premium for them. Despite the growing global preference for eco-friendly options, the findings suggest that the additional costs associated with sustainable entrepreneurship are not adequately reflected in the purchasing behavior of international buyers. The abundance of natural resources coupled with a minimal occurrence of natural catastrophes renders exporters less environmentally sensitive. The absence of robust policy support for environmental preservation exacerbates this inclination. Consequently, exporters exhibit a diminished motivation to incorporate environmental sustainability into their business decisions. Instead, attention is redirected towards factors such as the local population's minimum standards of living, prevalent social issues, governmental corruption and inefficiency, and rural poverty. These elements impel exporters to prioritize social well-being when making business decisions. Notably, the emphasis on social impact, rather than environmental impact, appears to be a generational trend, perpetuating a focus on societal aspects in the realm of business. In conclusion, the manifestation of entrepreneurial behavior within developing nations is notably contingent upon contextual nuances. This investigation contributes to a deeper understanding of the dynamics shaping the prevalence of SE over sustainable entrepreneurship among Sri Lankan exporters in the SME sector. The insights generated have implications for policymakers, industry stakeholders, and academics seeking to navigate the delicate balance between socio-cultural values, economic feasibility, and environmental sustainability in the pursuit of responsible business practices within the export sector.

Keywords: small and medium enterprises, social entrepreneurship, Sri Lanka, sustainable entrepreneurship

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Authors: Gonca Z. Tuncbilek

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Architectural research tends to define architecture in terms of its permanence. In this study, the term ‘temporality’ and its use in architectural discourse is re-visited. The definition, proposition, and efficacy of the temporality occur both in architecture and in its related knowledge. The temporary architecture not only fulfills the requirement of the architectural programs, but also plays a significant role in generating an environment of architectural discourse. In recent decades, there is a great interest on the temporary architectural practices regarding to the installations, exhibition spaces, pavilions, and expositions; inviting the architects to experience and think about architecture. The temporary architecture has a significant role among the architecture, the architect, and the architectural discourse. Experiencing the contemporary materials, methods and technique; they have proposed the possibilities of the future architecture. These structures give opportunities to the architects to a wide-ranging variety of freedoms to experience the ‘new’ in architecture. In addition to this experimentation, they can be considered as an agent to redefine and reform the boundaries of the architectural discipline itself. Although the definition of architecture is re-analyzed in terms of its temporality rather than its permanence; architecture, in reality, still relies on historically codified types and principles of the formation. The concept of type can be considered for several different sciences, and there is a tendency to organize and understand the world in terms of classification in many different cultures and places. ‘Type’ is used as a classification tool with/without the scope of the critical invention. This study considers theories of type, putting forward epistemological and discursive arguments related to the form of architecture, being related to historical and formal disciplinary knowledge in architecture. This study has been to emphasize the importance of the temporality in architecture as a creative tool to reveal the position within the architectural discourse. The temporary architecture offers ‘new’ opportunities in the architectural field to be analyzed. In brief, temporary structures allow the architect freedoms to the experimentation in architecture. While redefining the architecture in terms of temporality, architecture still relies on historically codified types (pavilions, exhibitions, expositions, and installations). The notion of architectural types and its varying interpretations are analyzed based on the texts of architectural theorists since the Age of Enlightenment. Investigating the classification of type in architecture particularly temporary architecture, it is necessary to return to the discussion of the origin of the knowledge and its classification.

Keywords: classification of architecture, exhibition design, pavilion design, temporary architecture

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Authors: Kréhi Serge Agbli, Samuel Portebos, Michaël Salomon

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Here a methodology is considered aiming at evaluating the economic benefit of the provision of a primary frequency control unit using a Battery Energy Storage System (BESS). In this methodology, two control types (basic and hysteresis) are implemented and the corresponding minimum energy storage system power allowing to maintain the frequency drop inside a given threshold under a given contingency is identified and compared using DigSilent’s PowerFactory software. Following this step, the corresponding energy storage capacity (in MWh) is calculated. As PowerFactory is dedicated to dynamic simulation for transient analysis, a first order model related to the IEEE 9 bus grid used for the analysis under PowerFactory is characterized and implemented on MATLAB-Simulink. Primary frequency control is simulated using the two control types over one-month grid's frequency deviation data on this Simulink model. This simulation results in the energy throughput both basic and hysteresis BESSs. It emerges that the 15 minutes operation band of the battery capacity allocated to frequency control is sufficient under the considered disturbances. A sensitivity analysis on the width of the control deadband is then performed for the two control types. The deadband width variation leads to an identical sizing with the hysteresis control showing a better frequency control at the cost of a higher delivered throughput compared to the basic control. An economic analysis comparing the cost of the sized BESS to the potential revenues is then performed.

Keywords: battery energy storage system, electrical network frequency stability, frequency control unit, PowerFactor

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Authors: Jovian Cheung, Thomas Kwok, Victor Wong

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Buildings are entwined with smart city developments. Building performance relies heavily on electrical and mechanical (E&M) systems and services accounting for about 40 percent of global energy use. By cohering the advancement of technology as well as energy and operation-efficient initiatives into the buildings, people are enabled to raise building performance and enhance the sustainability of the built environment in their daily lives. Digital transformation in the buildings is the profound development of the city to leverage the changes and opportunities of digital technologies To optimize the building performance, intelligent power quality and energy management system is developed for transforming data into actions. The system is formed by interfacing and integrating legacy metering and internet of things technologies in the building and applying big data techniques. It provides operation and energy profile and actionable insights of a building, which enables to optimize the building performance through raising people awareness on E&M services and energy consumption, predicting the operation of E&M systems, benchmarking the building performance, and prioritizing assets and energy management opportunities. The intelligent power quality and energy management system comprises four elements, namely the Integrated Building Performance Map, Building Performance Dashboard, Power Quality Analysis, and Energy Performance Analysis. It provides predictive operation sequence of E&M systems response to the built environment and building activities. The system collects the live operating conditions of E&M systems over time to identify abnormal system performance, predict failure trends and alert users before anticipating system failure. The actionable insights collected can also be used for system design enhancement in future. This paper will illustrate how intelligent power quality and energy management system provides operation and energy profile to optimize the building performance and actionable insights to revitalize an existing building into a smart building. The system is driving building performance optimization and supporting in developing Hong Kong into a suitable smart city to be admired.

Keywords: intelligent buildings, internet of things technologies, big data analytics, predictive operation and maintenance, building performance

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Authors: Jihan Zakarriya

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This paper aims at examining the concepts of gender vulnerability, militarized spaces and environmental degradation in Egyptian novelist Radwa Ashour’s Specters (1999) and Iraqi novelist Betool Khadiri’s Absent (2005). Although the socio-economic, environmental and political conditions in the 1990s- Egypt and Iraq are different, this paper argues that Ashour’s Specters and Khadiri’s Absent show the two societies as sharing a concern with the politics of public participation, individual freedom and political violence. For example, while Specters exposes the planned processes of economic-political and cultural violence towards Egyptian environment and people that undermine concepts of justice, equality and democracy, Absent shows the destructive effects of the systematic, successive waves of (international) militarized interferences and socio-economic sanctions imposed on Iraq following the Gulf War that hinder efforts of social development and kindle ethnic-religious violence and polarization in the country. This paper investigates and relates issues of gender, environmental and political violence and repression in Ashour’s Specters and Khadiri’s Absent in relation to the concepts of public space and security in the two countries. The paper argues that the selected novels articulate a particular awareness of the political-international conflicts and difficulties in the 1990s-Egypt and Iraq, with the aim both to emphasize the issue of gender as a tool of oppression and power hierarchy worldwide and to figure out new notions of public participation and change.

Keywords: gender violence, public space, environment, change

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Authors: Rogerio Vieira Dos Reis

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Countries like Brazil that despite fighting hard against corruption are not improving their corruption perception, especially due to systemic political corruption, should review their corruption prevention strategies. This thesis brings a case study based on an alternative way of preventing corruption: addressing the corruption drivers in public policies that lead to poor economic performance. After discussing the Brazilian industrial policies adopted recently, especially the measures towards the automotive sector, two corruption issues in this sector are analyzed: facilitating payment for fiscal benefits and buying the extension of fiscal benefits. In-depth interviews conducted with a policymaker and an executive of the automobile sector provide insights for identifying three main corruption drivers: excessive and unnecessary bureaucracy, a complex tax system and the existence of a closed market without setting performance requirements to be achieved by the benefited firms. Both the identification of the drivers of successful industrial policies and the proposal of anti-corruption strategies to ensure developmental outcomes are based on the economic perspective of industrial policy advocated by developmental authors and on the successful South Korean economic development experience. Structural anti-corruption measures include tax reform, the regulation of lobbying and legislation to allow corporate political contribution. Besides improving policymakers’ technical capabilities, measures at the ministry level include redesigning the automotive regimes as long-term policies focused on national investment with simple and clear rules and making fiscal benefits conditional upon performance targets focused on suppliers. This case study is of broader interest because it recommends the importance of adapting performance audits conducted by anti-corruption agencies, to focus not only on the delivery of public services, but also on the identification of potentially highly damaging corruption drivers in public policies that grant fiscal benefits to achieve developmental outcomes.

Keywords: Brazilian automotive sector, corruption, economic development, industrial policy, Inovar-Auto

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Authors: Mia Françoise

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This report aims to develop a strategy for assisting short-term investors to benefit from the current economic climate in South Africa by utilizing technical analysis techniques and predictive analytics. As part of this research, value investing and technical analysis principles will be combined to maximize returns for South African investors while optimizing volatility. As an emerging market, South Africa offers many opportunities for high growth in sectors where other developed countries cannot grow at the same rate. Investing in South African companies with significant growth potential can be extremely rewarding. Although the risk involved is more significant in countries with less developed markets and infrastructure, there is more room for growth in these countries. According to recent research, the offshore market is expected to outperform the local market over the long term; however, short-term investments in the local market will likely be more profitable, as the Johannesburg Stock Exchange is predicted to outperform the S&P500 over the short term. The instabilities in the economy contribute to increased market volatility, which can benefit investors if appropriately utilized. Price prediction and portfolio optimization comprise the two primary components of this methodology. As part of this process, statistics and other predictive modeling techniques will be used to predict the future performance of stocks listed on the Johannesburg Stock Exchange. Following predictive data analysis, Modern Portfolio Theory, based on Markowitz's Mean-Variance Theorem, will be applied to optimize the allocation of assets within an investment portfolio. By combining different assets within an investment portfolio, this optimization method produces a portfolio with an optimal ratio of expected risk to expected return. This methodology aims to provide a short-term investment with a stock portfolio that offers the best risk-to-return profile for stocks listed on the JSE by combining price prediction and portfolio optimization.

Keywords: financial stocks, optimized asset allocation, prediction modelling, South Africa

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Authors: Pablo Reyes, Vanessa Riveros Fiallo, Cesar Acevedo, Camila Castellanos, Catalina Moncaleano, Maria F. Parra, Laura Colmenares

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Social emotions are physiological, cognitive and behavioral phenomenon that intervene in the mechanisms of adaptation of individuals and their context. These are mediated by interpersonal relationship and language. Such emotions are subdivided into moral and comparison. The present research emphasizes two comparative emotions: Envy and Schadenfreude. Envy arises when a person lack of quality, possessions or achievements and these are superior in someone else. The Schadenfreude (SC) expresses the pleasure that someone experienced by the misfortune of the other. The relationship between both emotions has been questioned before. Hence there are reports showing that envy increases and modulates SC response. Other documents suggest that envy causes SC response. However, the methodological approach of the topic has been made through self-reports, as well as the hypothetical scenarios. Given this problematic, the neuroscience social framework provides an alternative and demonstrates that social emotions have neurophysiological correlates that can be measured. This is relevant when studying social emotions that are reprehensible like envy or SC are. When tested, the individuals tend to report low ratings due to social desirability. In this study, it was drawn up a proposal in research's protocol and the progress on its own piloting. The aim is to evaluate the effect of feeling envy and Schadenfreude has on the decision-making process, as well as the cooperative behavior in an economic game. To such a degree, it was proposed an experimental model that will provoke to feel envious by performing games against an unknown opponent. The game consists of asking general knowledge questions. The difficulty level in questions and the strangers' facial response have been manipulated in order to generate an ecological comparison framework and be able to arise both envy and SC emotions. During the game, an electromyography registry will be made for two facial muscles that have been associated with the expressiveness of envy and SC emotions. One of the innovations of the current proposal is the measurement of the effect that emotions have on a specific behavior. To that extent, it was evaluated the effect of each condition on the dictators' economic game. The main intention is to evaluate if a social emotion can modulate actions that have been associated with social norms, in the literacy. The result of the evaluation of a pilot model (without electromyography record and self-report) have shown an association between envy and SC, in a way that as the individuals report a greater sense of envy, the greater the chance to experience SC. The results of the economic game show a slight tendency towards profit maximization decisions. It is expected that at the time of using real cash this behavior will be strengthened and also to correlate with the responses of electromyography.

Keywords: envy, schadenfreude, electromyography, economic games

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Authors: Mili Dutta, Lokender Prashad

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Introduction: Population ageing is a phenomenon that can be observed around the globe. The health-related quality of life (HRQOL) is a measurement of health status of an individual, and it describes the effect of physical and mental health disorders on the well-being of a person. The present study is aimed to describe the influence of socio-economic characteristics of elderly on their health-related quality of life in India. Methods: EQ-5D instrument and population-based EQ-5D index score has been measured to access the HRQOL among elderly. Present study utilized the Study on Global Ageing and Adult Health (SAGE) data which was conducted in 2007 in India. Multiple Logistic Regression model and Multivariate Linear Regression model has been employed. Result: In the present study, it was found that the female are more likely to have problems in mobility (OR=1.41, 95% Cl: 1.14 to 1.74), self-care (OR=1.26, 95% Cl: 1.01 to 1.56) and pain or discomfort (OR=1.50, 95% Cl: 1.16 to 1.94). Elderly residing in rural area are more likely to have problems in pain/discomfort (OR=1.28, 95% Cl: 1.01 to 1.62). More older and non-working elderly are more likely whereas higher educated and highest wealth quintile elderly are less likely to have problems in all the dimensions of EQ-5D viz. mobility, self-care, usual activity, pain/discomfort and anxiety/depression. The present study has also shown that oldest old people, residing in rural area and currently not working elderly are more likely to report low EQ-5D index score whereas elderly with high education level and high wealth quintile are more likely to report high EQ-5D index score than their counterparts. Conclusion: The present study has found EQ-5D instrument as the valid measure for assessing the HRQOL of elderly in India. The study indicates socio-economic characteristics of elderly such as female, more older people, residing in rural area, non-educated, poor and currently non-working as the major risk groups of having poor HRQOL in India. Findings of the study will be helpful for the programmes and policy makers, researchers, academician and social workers who are working in the field of ageing.

Keywords: ageing, HRQOL, India, EQ-5D, SAGE, socio-economic characteristics

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Authors: Elmira Shamshity

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This study aimed to explore the economic approach for the Setiu wetland evaluation as a future protection strategy. A questionnaire survey was used based on the single-bounded dichotomous choice, contingent valuation method to differentiate individuals’ Willingness to Pay (WTP) for the conservation of the Setiu wetland. The location of study was Terengganu province in Malaysia. The results of the random questionnaire survey showed that protection of Setiu ecosystem is important to the indigenous community. The mean WTP for protection of ecosystem Setiu wetland was 12.985 Ringgit per month per household for 10 years. There was significant variation in the stated amounts of WTP based on the respondents’ knowledge, household income, educational level, and the bid amounts. The findings of this study may help improving understanding the WTP of indigenous people for the protection of wetland, and providing useful information for policy makers to design an effective program of ecosystem protection.

Keywords: willingness to pay, ecosystem, setiu wetland, Terengganu Malaysia

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Authors: Godwin Chigozie Okpara, Eugine Iheanacho

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The paper set out to assess the sustainability of debt in the Nigerian economy. Precisely, it sought to determine the level of debt sustainability and its impact on the growth of the economy; whether internationalization of capital market has positively influenced debt sustainability’s impact on economic growth; and to ascertain the direction of causality between external debt sustainability and the growth of GDP. In the light of these objectives, ratio analysis was employed for the determination of debt sustainability. Our findings revealed that the periods 1986 – 1994 and 1999 – 2004 were periods of severe unsustainable borrowing. The unit root test showed that the variables of the growth model were integrated of order one, I(1) and the cointegration test provided evidence for long run stability. Considering the dawn of internationalization of capital market, the researcher employed the structural break approach using Chow Breakpoint test on the vector error correction model (VECM). The result of VECM showed that debt sustainability, measured by debt to GDP ratio exerts negative and significant impact on the growth of the economy while debt burden measured by debt-export ratio and debt service export ratio are negative though insignificant on the growth of GDP. The Cho test result indicated that internationalization of capital market has no significant effect on the debt overhang impact on the growth of the Economy. The granger causality test indicates a feedback effect from economic growth to debt sustainability growth indicators. On the bases of these findings, the researchers made some necessary recommendations which if followed religiously will go a long way to ameliorating debt burdens and engendering economic growth.

Keywords: debt sustainability, internalization, capital market, cointegration, chow test

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Authors: Hasnun Wara Khondker, M. Tarek Morad

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Bangladesh is one of the most populous countries of the world in terms of density. Dhaka, the capital of Bangladesh currently has a population of approximately 15-16 million of which around 9 million people are accommodated in Dhaka South City Corporation (DSCC) within around 109 square kilometer area. Despite having various urban issues, country is at its pick of economic progress and Dhaka is the core of this economic growth. To ensure the proper economic development and citizens wellbeing, city needs an ingenious, congestion-free public transportation network. Bus stop/bus bay is an essential infrastructure for ensuring efficient public transportation flow within the city along with enhancing accessibility, user comfort, and safety through public amenities. At present, there is no established Mass Rapid Transit or Bus Rapid Transit network within the city and therefore these private owned buses are the only major mode of mass transportation of Dhaka city. DSCC has undertaken a project to re-design several bus stops and bus bays according to the universal standard for better urban mobility and user satisfaction. This paper will analyze the design approach of the bus stop/bay infrastructure within Dhaka South, putting the research lens on sustainable urban mobility with case studies of similar kind of urban context. The paper will also study the design process with setting several parameters, i.e., accessibility, passenger safety, comfort, sustainability, etc. Moreover, this research will recommend a guideline for designing a bus stop based on the analysis of the design methods.

Keywords: bus stop, Dhaka, public transportation, sustainable urban mobility, universal accessibility, user safety

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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 carbon dioxide (CO2) emissions and energy use in affecting the economic output, this paper is an effort to fulfill 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 (using disaggregated energy sources: crude oil, coal, natural gas, and electricity), CO2 emissions and gross domestic product (GDP) for Turkey 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 stationarity, Johansen’s maximum likelihood method for cointegration and a Vector Error Correction Model (VECM) for both short- and long-run causality among the research variables for the sample. The long-run equilibrium in the VECM suggests no effects of the CO2 emissions and energy use on the GDP in Turkey. There exists a short-run bidirectional relationship between the electricity and natural gas consumption, and also there is a negative unidirectional causality running from the GDP to electricity use. Overall, the results partly support arguments that there are relationships between energy use and economic output; however, the effects may differ due to the source of energy such as in the case of Turkey for the period of 1980-2010. However, there is no significant relationship between the CO2 emissions and the GDP and between the CO2 emissions and the energy use both in the short term and long term.

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

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Authors: Yu Lu

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Fixed point theory is a basic tool for the study of the existence of Nash equilibria in game theory. This paper presents a significant generalization of the Veinott-Zhou fixed point theorem for increasing correspondences, which serves as an essential framework for investigating the existence of Nash equilibria in supermodular and quasisupermodular games. To establish our proofs, we explore different conceptions of multivalued increasingness and provide comprehensive results concerning the existence of the largest/least fixed point. We provide two distinct approaches to the proof, each offering unique insights and advantages. These advancements not only extend the applicability of the Veinott-Zhou theorem to a broader range of economic scenarios but also enhance the theoretical framework for analyzing equilibrium behavior in complex game-theoretic models. Our findings pave the way for future research in the development of more sophisticated models of economic behavior and strategic interaction.

Keywords: fixed-point, Tarski’s fixed-point theorem, Nash equilibrium, supermodular game

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Authors: Belakhdar Salah Brahim

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The Urban management is a major element of social control of public space and thus the functioning of society. As such, it is a key element of a social conception of sustainable development. Also, it is a cross-cutting sector that relies on land management, infrastructure management, habitat management, management of social services, the management of economic development, etc. This study aims to study how urban management focusing on the study of problems related to urban waste management in developing countries. It appears from the study that the city management is to improve infrastructure and urban services in order to increase the city's development and improve living conditions in cities. It covers various aspects including management of urban space, economic management, administrative management, asset management or infrastructure and finally waste management. Environmental management is important because it solves the pollution problems of life and preserve resources for future generations. Changing perceptions of waste has led to the definition of new policies for integrated waste management requirements appropriate to the urban site.

Keywords: urbanization, urban management, environmental management, waste management

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Authors: D. Shamatov

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Becoming a teacher is a journey with significant learning experiences. Exploring teachers’ lives and experiences can provide much-needed insights into the multiple realities of teaching. Teachers’ stories through qualitative narrative studies help understand and appreciate the complexities of the socio-political, economic and practical realities facing teachers. Events and experiences, both past and present, that take place at home, school, and in the broader social sphere help to shape these teachers’ lives and careers. Researchers and educators share the responsibility of listening to these teachers’ stories and life experiences and being sensitive to their voices in order to develop effective models for teacher development. A better understanding of how teachers learn to become teachers can help teacher educators prepare more effective teacher education programs. This paper is based on qualitative research which includes individual and focus group interviews, as well as auto-biography stories of Master of Science in School Leadership students at Graduate School of Education of Nazarbayev University. Twenty five MSc students from across Kazakhstan reflected on their professional journey and wrote their professional autobiographies as teachers. Their autobiographies capture the richness of their experiences and beliefs as a teacher, but also serve as window to understand broader socio-economic and political contexts where these teachers live and work. The study also provides an understanding of the systemic and socio-economic challenges of teachers in the context of post-Soviet Kazakhstan. It helps the reader better understand how wider societal forces interact and frame the development of teachers. The paper presents the findings from these stories of MSc students and offers some practical and policy implications for teacher preparation and teacher development.

Keywords: becoming a teacher, Kazakhstan, teacher stories, teacher development

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Authors: Olagunju John Olusesan-Remi

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The study area Ijero-Ekiti falls within the Ilesha-Ekiti Schist belt, originating from the long year of the Pan-Africa orogenic events and various cataclysmic tectonic activities in history. Ijero-Ekiti is situated within latitude 7 degree 45N and 7 Degree 55N. Ijero Ekiti is bordered between the Dahomean Basin and the southern Bida/Benue basin on the Geological map of Nigeria. This research work centers on majorly on investigating the chemical composition and as well as the mineralogical distribution of the various mineral-bearing rocks that composed the study area. This work is essentially carried out with a view to assessing and at the same time ascertaining the economic potentials and or the industrial significance of the area to Ekiti-south western region and the Nigeria nation as a whole. The mineralogical distribution pattern is of particular interest to us in this study. In this regard essential focus is put on the mostly the economic gemstones distributions within the various mineral bearing rocks in the zone, some of which includes the tourmaline formation, cassiterite deposit, tin-ore, tantalum columbite, smoky quartz, amethyst, polychrome and emerald variety beryl among others as they occurred within the older granite of the Precambrian rocks. To this end, samples of the major rock types were taken from various locations within the study area for detail scientific analysis as follows: The Igemo pegmatite of Ijero west, the epidiorite of Idaho, the biotitic hornblende gneiss of Ikoro-Ijero north and the beryl crystalline rock types to mention a few. The slides of the each rock from the aforementioned zones were later prepared and viewed under a cross Nichol petro graphic microscope with a particular focus on the light reflection ability of the constituent minerals in each rock samples. The results from the physical analysis viewed from the colour had it that the pegmatite samples ranges from pure milky white to fairly pinkish coloration. Other physical properties investigated include the streak, luster, form, specific gravity, cleavage/fracture pattern etc. The optical examination carried out centers on the refractive indices and pleochroism of the minerals present while the chemical analysis reveals from the tourmaline samples a differing correlation coefficient of the various oxides in each samples collected through which the mineral presence was established. In conclusion, it was inferred that the various minerals outlined above were in reasonable quantity within the Ijero area. With the above discoveries, therefore, we strongly recommend a detailed scientific investigation to be carried out such that will lead to a comprehensive mining of the area. Above all, it is our conclusion that a comprehensive mineralogical exploitation of this area will not only boost the socio-economic potential of the area but at the same time will go a long way contributing immensely to the socio-economic growth and development of the Nation-Nigeria at large.

Keywords: Ijero Ekiti, Southwestern Nigeria, economic minerals, pegmatite of the pan African origin, cataclastic tectonic activities, Ilesha Schistbelt, precambrian formations

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Authors: Antoine F. Dedewanou, Eric N. Ekpinda

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We investigate whether and how deposit insurance program affects savings decisions in the Economic Community of Central African States (ECCAS). Specifically, using the World Bank’s 2014 and 2011 Global Financial Inclusion (Global Findex) databases, we apply special regressor approach. We find that the deposit insurance program increases significantly, everything else equal, the probability that people save their money at a financial institution by 11 percentage points in Gabon, by 22.2 percentage points in DR Congo and by 15.1 percentage points in Chad. These effects are matched with positive effects of age and education level. But in Cameroon, the effect of deposit insurance is not significant. The policies aimed at fostering financial inclusion will be more effective if there is a deposit insurance scheme in place, along with awareness among young people, and education programs. JEL Classification: G21, O12, O16

Keywords: deposit insurance, savings, special regressor, ECCAS countries

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Authors: Adadu Yahaya, Abdullahi Erunke Canice

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The study sets out to examine the interface that tends to exist in the relationship between gender policy and Nigeria’s socio-economic development. Despite Nigeria’s ratification of virtually all international instruments on the protection and promotion of gender rights and equality, it appears that the practice is honored in the breach than in observance; hence, these policies have not been adequately domesticated and implemented. The implication of this is that the women folks have generally been isolated from mainstream politics and their political rights and privileges truncated in the scheme of things. The paper observes that gender inequality and marginalization in Nigeria has practically occasioned the unwholesome subjugation of Nigerian women to the background, hence poses more critical questions and challenges to the national question. The consequence of this, to this paper, is that Nigeria’s development process will be adversely affected if this trend is not checked. The paper sums up with appropriate policy options which are believed to have the potentials of giving women the right pride of place in the socio-economic and political dynamics in the 21st century Nigeria and beyond.

Keywords: development, equality, gender, policy

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Authors: Chuan Yang, Jing Bie, Panagiotis Psimoulis, Zhong Wang

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Modelling and understanding vehicle volume distribution over the urban network are essential for urban design and transport planning. The space syntax approach was widely applied as the main conceptual and methodological framework for contemporary vehicle volume models with the help of the statistical method of multiple regression analysis (MRA). However, the MRA model with space syntax variables shows a limitation in vehicle volume predicting in accounting for the crossed effect of the urban configurational characters and socio-economic factors. The aim of this paper is to construct models by interacting with the combined impact of the street network structure and socio-economic factors. In this paper, we present a multilevel linear (ML) and an agent-based (AB) vehicle volume model at an urban scale interacting with space syntax theoretical framework. The ML model allowed random effects of urban configurational characteristics in different urban contexts. And the AB model was developed with the incorporation of transformed space syntax components of the MRA models into the agents’ spatial behaviour. Three models were implemented in the same urban environment. The ML model exhibit superiority over the original MRA model in identifying the relative impacts of the configurational characters and macro-scale socio-economic factors that shape vehicle movement distribution over the city. Compared with the ML model, the suggested AB model represented the ability to estimate vehicle volume in the urban network considering the combined effects of configurational characters and land-use patterns at the street segment level.

Keywords: space syntax, vehicle volume modeling, multilevel model, agent-based model

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Authors: Vered Holzmann, Ramzi Halabi

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The current research investigates motivators and barriers to high-tech entrepreneurship in the Israeli-Arab Community. With the aim to exploit the capacity of Israel as a 'start-up nation', we identify the most important aspects to promote integration of Israeli-Arab entrepreneurs in high-tech startups and business companies, thus impact the socio-economic status of the Arab community in Israel. We reviewed the literature on the role of high-tech and entrepreneurship in the Israeli economy, the profile of the Israeli-Arab community with regard to education and employability, and the characteristics of minority entrepreneurship to understand entrepreneurs' intentions, their incentives to choose the entrepreneurial route on one hand and the obstacles that they face on the other hand. Based on the literature review, we conducted an integrated study that included a survey among 73 Israeli-Arabs involved in high-tech entrepreneurship and 16 semi-structured interviews with Israeli-Arab and Jewish entrepreneurs and leaders in the high-tech industry. We analyzed the data to explore personal and social motivating factors to entrepreneurship as well as educational and socio-economical barriers for entrepreneurship. Three major elements were found to be the most influential on Arab high-tech entrepreneurship in Israel: education, financial resources, and strategic-institutional support. The relationship between education and employability that is well-known with regard to general education, requires two additional aspects in the field of high-tech entrepreneurship: education of technology and engineering, and education of business and entrepreneurship. The study findings reveal that the main motivation factors for entrepreneurship are development of creative ideas and improvement of the socio-economic status, while financial-related factors and lack of institutional and governmental support are perceived as impediments to entrepreneurial activities. Financing difficulties are mainly derived from discriminating financial environment and lack of professional networking. The relationship between entrepreneurship and economic growth seems to be clear and simple; thus it is a national interest to encourage entrepreneurship among the Arab community, and especially high-tech entrepreneurship which has a significant role in the economic growth of Israel.

Keywords: high-tech industry, innovation management, Israeli-Arab community, minority entrepreneurship, motivating factors and barriers

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Authors: Usman Dutse, Eldah Ephraim Buba, Dalhatu Sa’idu

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The popularity of foreign football leagues are getting a soaring in Africa. Nigerian youths are following these leagues with high sense of dedication and devotion. The paper examines the factors behind the growing popularity of foreign football league in Nigeria and its socio economic implications on the country. Primary data were largely used for the study and collected through the use of questionnaire and interview. The data collected were analysed with the use of descriptive and qualitative methods of analysis. The findings made from the analysis indicates that the reasons why foreign league is popular in Nigeria is because the quality of national league in Nigeria is poor, the matches are not mostly televised, corruption/match fixing is common; for the above mentioned reasons national football league become uninteresting compared to foreign leagues. It was also confirmed that the overwhelming popularity of foreign league has the following social effects: friendship and acquaintance are created between supporters of the same club via social media and viewing centres, it has increased the knowledge and awareness of youth about the economics and politics of international sports. However, it has also brewed rivalry between supporters of clubs, drugs are sold in viewing centres and it sometimes serves as a meeting point for miscreants and criminals. Some of the economic effects were also identified as follows: small entrepreneurs establish commercial viewing centres and they employ other supporting staff to operate. On the strength of the above findings, the following were recommended: There is the urgent need to reform our national league to an acceptable standard; improve the quality of the team, the facilities and media coverage of the matches. This might make Nigerians to channel some of the love for foreign leagues to the local leagues.

Keywords: foreign, league, socioeconomic, implications

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Authors: Arnault Morisson

Abstract:

Innovation districts are being implemented as urban regeneration strategies in cities as diverse as Barcelona (Spain), Boston (Massachusetts), Chattanooga (Tennessee), Detroit (Michigan), Medellin (Colombia), and Montréal (Canada). Little, however, is known about the concept. This paper aims to provide a framework to define innovation districts. The research methodology is based on a qualitative approach using 22@ Barcelona as a case study. 22@ Barcelona was the first innovation district ever created and has been a model for the innovation districts of Medellin (Colombia) and Boston (Massachusetts) among others. Innovation districts based on the 22@ Barcelona’s model can be defined as top-down urban innovation ecosystems designed around four multilayered and multidimensional models of innovation: urban planning, productive, collaborative, and creative, all coordinated under strong leadership, with the ultimate objectives to accelerate the innovation process and competitiveness of a locality. Innovation districts aim to respond to a new economic paradigm in which economic production flows back to cities.

Keywords: innovation ecosystem, governance, technology park, urban planning, urban policy, urban regeneration

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Authors: A. S. Salimzhanova, J. C. Sardinas, O. A. Yanovskaya

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The objective of this research work is to discuss the concept of green growth in the Republic of Kazakhstan introduced by its government in the National Sustainable Development Strategy with the objective of transition to a resource-efficient, green economy. We believe that emerging economies like Kazakhstan can pursue a cleaner and more efficient development path by introducing an environmental tax system based on resource consumption rather than only income and labor. The key issues discussed in this article are the eco-efficiency, which refers to closing the gap between economic and ecological efficiencies, and the structural change of the economy toward green growth. We also strongly believe that studying the experience of East Asian countries on green reform including eco-innovation and green solutions in business is essential to the case of Kazakhstan. All of these will raise the status of Kazakhstan to the level of one of the thirty developed countries over the next decades.

Keywords: economic strategy, green growth, green solutions, natural resource management, environmental tax system

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Authors: K. Y. Chen, Y. N. Jia, H. Chua, C. W. Kan

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In United States (US), the environmental policy went through two stages that are government control period and market mechanism period. In the government control period in the 1970s, environmental problems in U.S. are treated by mandatory direct control method, including promulgation of laws, formulation of emission standards and mandatory installation of pollution treatment equipment. After the 1980s, the environmental policy in U.S. went into the second stage, in which the government strengthened the incentives and coordination effects of market. Since then, environmental governance had been partially replaced by means of economic regulation of the market. Green Tax Policy and Marketable Pollution Permits are good examples of government's economic interventions. U.S. Federal Government regards environmental industry as high-tech industry which is promoted in this period. Therefore, in the paper, we aim to analyse the effect of environmental investment on the sustainable development in the US. Acknowledgment: Authors would like to thank the financial support from the Hong Kong Polytechnic University for this work.

Keywords: United States, public environmental investment, analysis, sustainable development

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Authors: Muhammad Ilham Agus Salim, Muhammad Ikbal

Abstract:

The ASEAN Economic Community (AEC) was set up in 2003 with the objectives of creating a single market and production base, enhancing equitable economic development as well as facilitating the integration into the global economy. The AEC involves liberalization and facilitation of trade in goods, skilled labour, services, and investment, as well as protection and promotion of investment. The thesis outlines the AEC Blueprint actions in scope of globalization of investment and capital market. Free flows of investment and freer flows of capital market urge countries in South East Asia to coordinate and to collaborate in securing the interest of public, and this leads to the importance of financial services authorities in ASEAN to prepare the mechanism of guarding the flows of investment. There is no exception, especially for Indonesian Financial Services Authority (OJK) as one of the authorized body in capital market supervision, to enforce its authorities as supervisory body.

Keywords: AEC blueprint, OJK, capital market, integration

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