Search results for: economic hardship
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 6934

Search results for: economic hardship

5224 Evolving Maritime Geopolitics of the Indo-Pacific

Authors: Pragya Pandey

Abstract:

A major discussion in the 21st -century international affairs has been around the shifting economic and political center of gravity to Asia. In the maritime realm, it translates into a shift in focus from the Atlantic to the Pacific-Indian Ocean region or what is now popularly called the Indo-Pacific region. The Indo-Pacific is rapidly eclipsing once dominant Asia-Pacific as center of trade, investment, competition and cooperation. The growing inter-connectivity between the Indian Ocean and the Pacific Ocean is bringing forth the ‘confluence of the two seas’. Therefore, the Indo-Pacific strategic arc is acquiring greater salience in consonance with the changing realities of the time. The region is undergoing unprecedented transformation in its security outlook. At present, the region is at an interesting historic epoch- witnessing the simultaneous rise India and China, their economic growth, naval modernization and power projection capabilities, alongside the continued presence of the United States, particularly with its rebalancing strategy. Besides the interplay among the three major stakeholders, other regional players like Japan, Australia, and Indonesia, would play a crucial role in the geopolitical re-arrangement of the Indo-Pacific region. The region will be the future theater of activities to determine the shifts and distribution of sea power, by the virtue of its strategic location, intrinsic value of the energy resources and significant maritime trade routes of the region. Therefore, the central theme of the paper would be to scrutinize the maritime security environment of the region against the backdrop of the tricky geopolitical landscape, contributing to the change in the regional and global balance of power.

Keywords: China, geopolitics, India, United States

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5223 Nexus of Pakistan Stock Exchange with World's Top Five Stock Markets after Launching China Pakistan Economic Corridor

Authors: Abdul Rauf, Xiaoxing Liu, Waqas Amin

Abstract:

Stock markets are fascinating more and more conductive to each other due to liberalization and globalization trends in recent years. China Pakistan Economic Corridor (CPEC) has dragged Pakistan stock exchange to the new heights and global investors are making investments to reap its benefits. So, in investors and government perspective, the study focuses co-integration of Pakistan stock exchange with world’s five big economies i-e US, China, England, Japan, and France. The time period of study is seven years i-e 2010 to 2016 and daily values of major indices of corresponding stock exchanges collected. All variables of that particular study are stationary at first difference confirmed by unit root test. The study Johansen system co integration test for analysis of data along with Granger causality test is performed for result purpose. Co integration test asserted that Pakistan stock exchange integrated with Shanghai stock exchange (SSE) and NIKKEI stock exchange in short run. Granger causality test also proclaimed these results. But NASDAQ, FTSE, DAX not co integrated and Granger cause at a short run but long run these markets are bonded with Pakistan stock exchange (KSE). VECM also confirmed this liaison in short and long run. Investors, therefore, need to be updated regarding co-integration of world’s stock exchanges to ensure well diversified and risk adjusted high returns. Equally, governments also need updated status so that they could reduce co-integration through multiple steps and hence drag investors for diversified investment.

Keywords: CPEC, DAX, FTSE, liberalization, NASDAQ, NIKKEI, SSE, stock markets

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5222 The Structural Pillars in Contemporary Mexico: Legacies of the Past and Lessons for the Future

Authors: Lisdey Espinoza Pedraza

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In places from Latin America to Africa, a big number of authoritarian regimes have given way to democratic forces and increasingly responsive and open societies. Many countries have embarked upon a process of democratisation for the first time while many others have moved to restore their democratic roots. Mexico is one of these countries, and although the Mexican state is not democratic neither dictatorial in the strict sense the Anglo-Saxon and European tradition has defined these concepts, it is possible to find elements that combine both concepts. History helps us understand and study the past, interpret the present and predict the future. In the case of the Mexican political system, history has had a very specific effect in each of the areas that comprise the making of what it is now the contemporary Mexican system. Each of the different historical periods has left a legacy that has marked the way the political system has evolved. The historical periods that Mexico has undergone since its emergence as an independent state, have permeated until modern days and some of these legacies are the ones which will help us understand and interpret many of the structures of the current Mexican political system. The most notorious characteristic of contemporary Latin America is its dependency, underdevelopment and economic disparity once this region if compared with Europe and North America. There is a widespread persistence of economic dependence and social problems despite the creation of independent countries. The role of the state is to supervise the development of relations among actors. The political phenomenon is full of a constant process of transitions and the particular case of the formation of the Mexican state evidences this.

Keywords: Mexico, democratisation process, PRI, authoritarian regimes, political transitions, Latin America

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5221 An Assessment of Financial Viability and Sustainability of Hydroponics Using Reclaimed Water Using LCA and LCC

Authors: Muhammad Abdullah, Muhammad Atiq Ur Rehman Tariq, Faraz Ul Haq

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In developed countries, sustainability measures are widely accepted and acknowledged as crucial for addressing environmental concerns. Hydroponics, a soilless cultivation technique, has emerged as a potentially sustainable solution as it can reduce water consumption, land use, and environmental impacts. However, hydroponics may not be economically viable, especially when using reclaimed water, which may entail additional costs and risks. This study aims to address the critical question of whether hydroponics using reclaimed water can achieve a balance between sustainability and financial viability. Life Cycle Assessment (LCA) and Life Cycle Cost (LCC) will be integrated to assess the potential of hydroponics whether it is environmentally sustainable and economically viable. Life cycle assessment, or LCA, is a methodology for assessing environmental impacts associated with all the stages of the life cycle of a commercial product, process, or service. While Life Cycle Cost (LCC) is an approach that assesses the total cost of an asset over its life cycle, including initial capital costs and maintenance costs. The expected benefits of this study include supporting evidence-based decision-making for policymakers, farmers, and stakeholders involved in agriculture. By quantifying environmental impacts and economic costs, this research will facilitate informed choices regarding the adoption of hydroponics with reclaimed water. It is believed that the outcomes of this research work will help to achieve a sustainable approach to agricultural production, aligning with sustainability goals while considering economic factors by adopting hydroponic technique.

Keywords: hydroponic, life cycle assessment, life cycle cost, sustainability

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5220 Thailand and Sino-Japanese Relations in the Early Twentieth Century

Authors: Mizuno Norihito

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This study attempts to examine Japanese views of Thailand primarily in the 1920s and 1930s through the analysis of documents published by the Office of Governor-General of Taiwan (Taiwan Sotokufu) and its affiliated organizations. Japan regarded Taiwan, under its control since 1895, as a foothold to making inroads into the South, and The governor-general office was active in investigations and intelligence gathering in Southeast Asia, as well as the southern part of the Chinese continent. Documents published by the governor-general office and its related organizations, especially those in a couple of decades following the First World War, reveal that the Japanese paid attention to the presence of the-Thai-Chinese during the time period. It would not be surprising that the desiring to penetrating into the Thai market, as well as the markets of the rest of Southeast Asia, the Japanese could not ignore the presence of the Thai-Chinese because of their local economic influences. The increased Japanese concern about the Thai-Chinese toward the end of the 1920s and throughout the 1930s was, moreover, intertwined with the increased tension between China and Japan. In other words, Thailand, as well as the rest of Southeast Asia, became another arena of Sino-Japanese confrontation. The rise of nationalism against Japan in China infected the Thai-Chinese communities and threatened Japanese economic activities in the country. However, the Japanese simultaneously found out that Thai-Chinese concert with anti-Japanese in China did not necessarily match their business interests and that the Thai government’s efforts to assimilate the Thai-Chinese into the Thais society and strategic approach to Japan in the late 1930s hampered their anti-Japanese actions.

Keywords: Japanese-Thai Relations, Sino-Japanese relations, Thai Chinese, Overseas Japanese

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5219 Assessing the Influence of Chinese Stock Market on Indian Stock Market

Authors: Somnath Mukhuti, Prem Kumar Ghosh

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Background and significance of the study Indian stock market has undergone sudden changes after the current China crisis in terms of turnover, market capitalization, share prices, etc. The average returns on equity investment in both markets have more than three and half times after global financial crisis owing to the development of industrial activity, corporate sectors development, enhancement in global consumption, change of global financial association and fewer imports from developed countries. But the economic policies of both the economies are far different, that is to say, where Indian economy maintaining a conservative policy, Chinese economy maintaining an aggressive policy. Besides this, Chinese economy recently lowering its currency for increasing mysterious growth but Indian does not. But on August 24, 2015 Indian stock market and world stock markets were fall down due to the reason of Chinese stock market. Keeping in view of the above, this study seeks to examine the influence of Chinese stock on Indian stock market. Methodology This research work is based on daily time series data obtained from yahoo finance database between 2009 (April 1) to 2015 (September 28). This study is based on two important stock markets, that is, Indian stock market (Bombay Stock Exchange) and Chinese stock market (Shanghai Stock Exchange). In the course of analysis, the daily raw data were converted into natural logarithm for minimizing the problem of heteroskedasticity. While tackling the issue, correlation statistics, ADF and PP unit root test, bivariate cointegration test and causality test were used. Major findings Correlation statistics show that both stock markets are associated positively. Both ADF and PP unit root test results demonstrate that the time series data were not normal and were not stationary at level however stationary at 1st difference. The bivariate cointegration test results indicate that the Indian stock market was associated with Chinese stock market in the long-run. The Granger causality test illustrates there was a unidirectional causality between Indian stock market and Chinese stock market. Concluding statement The empirical results recommend that India’s stock market was not very much dependent on Chinese stock market because of Indian economic conservative policies. Nevertheless, Indian stock market might be sturdy if Indian economic policies are changed slightly and if increases the portfolio investment with Chinese economy. Indian economy might be a third largest economy in 2030 if India increases its portfolio investment and trade relations with both Chinese economy and US economy.

Keywords: Indian stock market, China stock market, bivariate cointegration, causality test

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5218 Technical and Economic Analysis of Smart Micro-Grid Renewable Energy Systems: An Applicable Case Study

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

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

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

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5217 Social Enterprises over Microfinance Institutions: The Challenges of Governance and Management

Authors: Dean Sinković, Tea Golja, Morena Paulišić

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Upon the end of the vicious war in former Yugoslavia in 1995, international development community widely promoted microfinance as the key development framework to eradicate poverty, create jobs, increase income. Widespread claims were made that microfinance institutions would play vital role in creating a bedrock for sustainable ‘bottom-up’ economic development trajectory, thus, helping newly formed states to find proper way from economic post-war depression. This uplifting neoliberal narrative has no empirical support in the Republic of Croatia. Firstly, the type of enterprises created via microfinance sector are small, unskilled, labor intensive, no technology and with huge debt burden. This results in extremely high failure rates of microenterprises and poor individuals plunging into even deeper poverty, acute indebtedness and social marginalization. Secondly, evidence shows that microcredit is exact reflection of dangerous and destructive sub-prime lending model with ‘boom-to-bust’ scenarios in which benefits are solely extracted by the tiny financial and political elite working around the microfinance sector. We argue that microcredit providers are not proper financial structures through which developing countries should look way out of underdevelopment and poverty. In order to achieve sustainable long-term growth goals, public policy needs to focus on creating, supporting and facilitating the small and mid-size enterprises development. These enterprises should be technically sophisticated, capable of creating new capabilities and innovations, with managerial expertise (skills formation) and inter-connected with other organizations (i.e. clusters, networks, supply chains, etc.). Evidence from South-East Europe suggest that such structures are not created via microfinance model but can be fostered through various forms of social enterprises. Various legal entities may operate as social enterprises: limited liability private company, limited liability public company, cooperative, associations, foundations, institutions, Mutual Insurances and Credit union. Our main hypothesis is that cooperatives are potential agents of social and economic transformation and community development in the region. Financial cooperatives are structures that can foster more efficient allocation of financial resources involving deeper democratic arrangements and more socially just outcomes. In Croatia, pioneers of the first social enterprises were civil society organizations whilst forming a separated legal entity. (i.e. cooperatives, associations, commercial companies working on the principles of returning the investment to the founder). Ever since 1995 cooperatives in Croatia have not grown by pursuing their own internal growth but mostly by relying on external financial support. The greater part of today’s registered cooperatives tend to be agricultural (39%), followed by war veterans cooperatives (38%) and others. There are no financial cooperatives in Croatia. Due to the above mentioned we look at the historical developments and the prevailing social enterprises forms and discuss their advantages and disadvantages as potential agents for social and economic transformation and community development in the region. There is an evident lack of understanding of this business model and of its potential for social and economic development followed by an unfavorable institutional environment. Thus, we discuss the role of governance and management in the formation of social enterprises in Croatia, stressing the challenges for the governance of the country’s social enterprise movement.

Keywords: financial cooperatives, governance and management models, microfinance institutions, social enterprises

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5216 Informational Habits and Ideology as Predictors for Political Efficacy: A Survey Study of the Brazilian Political Context

Authors: Pedro Cardoso Alves, Ana Lucia Galinkin, José Carlos Ribeiro

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Political participation, can be a somewhat tricky subject to define, not in small part due to the constant changes in the concept fruit of the effort to include new forms of participatory behavior that go beyond traditional institutional channels. With the advent of the internet and mobile technologies, defining political participation has become an even more complicated endeavor, given de amplitude of politicized behaviors that are expressed throughout these mediums, be it in the very organization of social movements, in the propagation of politicized texts, videos and images, or in the micropolitical behaviors that are expressed in daily interaction. In fact, the very frontiers that delimit physical and digital spaces have become ever more diluted due to technological advancements, leading to a hybrid existence that is simultaneously physical and digital, not limited, as it once was, to the temporal limitations of classic communications. Moving away from those institutionalized actions of traditional political behavior, an idea of constant and fluid participation, which occurs in our daily lives through conversations, posts, tweets and other digital forms of expression, is discussed. This discussion focuses on the factors that precede more direct forms of political participation, interpreting the relation between informational habits, ideology, and political efficacy. Though some of the informational habits can be considered political participation, by some authors, a distinction is made to establish a logical flow of behaviors leading to participation, that is, one must gather and process information before acting on it. To reach this objective, a quantitative survey is currently being applied in Brazilian social media, evaluating feelings of political efficacy, social and economic issue-based ideological stances and informational habits pertaining to collection, fact-checking, and diversity of sources and ideological positions present in the participant’s political information network. The measure being used for informational habits relies strongly on a mix of information literacy and political sophistication concepts, bringing a more up-to-date understanding of information and knowledge production and processing in contemporary hybrid (physical-digital) environments. Though data is still being collected, preliminary analysis point towards a strong correlation between information habits and political efficacy, while ideology shows a weaker influence over efficacy. Moreover, social ideology and economic ideology seem to have a strong correlation in the sample, such intermingling between social and economic ideals is generally considered a red flag for political polarization.

Keywords: political efficacy, ideology, information literacy, cyberpolitics

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5215 Barrier Analysis of Sustainable Development of Small Towns: A Perspective of Southwest China

Authors: Yitian Ren, Liyin Shen, Tao Zhou, Xiao Li

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The past urbanization process in China has brought out series of problems, the Chinese government has then positioned small towns in essential roles for implementing the strategy 'The National New-type Urbanization Plan (2014-2020)'. As the connector and transfer station of cities and countryside, small towns are important force to narrow the gap between urban and rural area, and to achieve the mission of new-type urbanization in China. The sustainable development of small towns plays crucial role because cities are not capable enough to absorb the surplus rural population. Nevertheless, there are various types of barriers hindering the sustainable development of small towns, which led to the limited development of small towns and has presented a bottleneck in Chinese urbanization process. Therefore, this paper makes deep understanding of these barriers, thus effective actions can be taken to address them. And this paper chooses the perspective of Southwest China (refers to Sichuan province, Yunnan province, Guizhou province, Chongqing Municipality City and Tibet Autonomous Region), cause the urbanization rate in Southwest China is far behind the average urbanization level of the nation and the number of small towns accounts for a great proportion in mainland China, also the characteristics of small towns in Southwest China are distinct. This paper investigates the barriers of sustainable development of small towns which located in Southwest China by using the content analysis method, combing with the field work and interviews in sample small towns, then identified and concludes 18 barriers into four dimensions, namely, institutional barriers, economic barriers, social barriers and ecological barriers. Based on the research above, questionnaire survey and data analysis are implemented, thus the key barriers hinder the sustainable development of small towns in Southwest China are identified by using fuzzy set theory, those barriers are, lack of independent financial power, lack of construction land index, financial channels limitation, single industrial structure, topography variety and complexity, which mainly belongs to institutional barriers and economic barriers. In conclusion part, policy suggestions are come up with to improve the politic and institutional environment of small town development, also the market mechanism are supposed to be introduced to the development process of small towns, which can effectively overcome the economic barriers, promote the sustainable development of small towns, accelerate the in-situ urbanization by absorbing peasants in nearby villages, and achieve the mission of new-type urbanization in China from the perspective of people-oriented.

Keywords: barrier analysis, sustainable development, small town, Southwest China

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5214 A Fuzzy Hybrıd Decısıon Support System for Naval Base Place Selectıon in a Foreıgn Country

Authors: Latif Yanar, Muharrem Kaçan

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In this study, an Analytic Hierarchy Process and Analytic Network Process Decision Support System (DSS) model for determination of a navy base place in another country is proposed together with a decision support software (DESTEC 1.0) developed using C Sharp programming language. The proposed software also has the ability of performing the fuzzy models (Fuzzy AHP and Fuzzy ANP) of the proposed DSS to cope with the ambiguous and linguistic nature of the model. The AHP and ANP model, for a decision support for selecting the best place among the alternatives, including the criteria and alternatives, is developed and solved by the experts from Turkish Navy and Turkish academicians related to international relations branches of the universities in Turkey. Also, the questionnaires used for weighting of the criteria and the alternatives are filled by these experts.Some of our alternatives are: economic and political stability of the third country, the effect of another super power in that country, historical relations, security in that country, social facilities in the city in which the base will be built, the transportation security and difficulty from a main city that have an airport to the city will have the base etc. Over 20 criteria like these are determined which are categorized in social, political, economic and military aspects. As a result all the criteria and three alternatives are evaluated by different people who have background and experience to weight the criteria and alternatives as it must be in AHP and ANP evaluation system. The alternatives got their degrees all between 0 – 1 and the total is 1. At the end the DSS advices one of the alternatives as the best one to the decision maker according to the developed model and the evaluations of the experts.

Keywords: analytic hierarchical process, analytic network process, fuzzy logic, naval base place selection, multiple criteria decision making

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5213 Effectiveness of Multi-Business Core Development Policy in Tokyo Metropolitan Area

Authors: Takashi Nakamura

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In the Tokyo metropolitan area, traffic congestion and long commute times are caused by overconcentration in the central area. To resolve these problems, a core business city development policy was adopted in 1988. The core business cities, which include Yokohama, Chiba, Saitama, Tachikawa, and others, have designated business facilities accumulation districts where assistance measures are applied. Focusing on Yokohama city, this study investigates the trends in the number of offices, employees, and commuters at 2001 and 2012 Economic Census, as well as the average commute time in the Tokyo metropolitan area from 2005 to 2015 Metropolitan Transportation Census. Surveys were administered in 2001 and 2012 Economic Census to participants who worked in Yokohama, according to their distribution in the city's 1,757 subregions. Four main findings emerged: (1) The number of offices increased in Yokohama when the number of offices decreased in the Tokyo metropolitan area overall. Additionally, the number of employees at Yokohama increased. (2) The number of commuters to Tokyo's central area increased from Saitama prefecture, Tokyo Tama area, and Tokyo central area. However, it decreased from other areas. (3) The average commute time in the Tokyo metropolitan area was 67.7 minutes in 2015, a slight decrease from 2005 and 2010. (4) The number of employees at business facilities accumulation districts in Yokohama city increased greatly.

Keywords: core business city development policy, commute time, number of employees, Yokohama city, distribution of employees

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5212 Syrian-Armenian Women Refugees: Crossing Borders between the Past and the Present, Negotiating between the Private and the Public

Authors: Ani Kojoyan

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The Syrian refugee crisis has been a matter of worldwide concern during the recent years. And though refugees’ problems are contextualized in terms of time and space, the refugee crisis still remains a global issue to discuss. Since the start of the conflict, Armenia has welcomed thousands of Syrian refugees too. Taking into consideration Armenia’s current socio-economic and geopolitical situation, the flow of refugees is a challenge both for the country and for refugees themselves. However, these people are not simply refugees from Syria, they are Syrian-Armenian refugees; people whose ancestors were survivals of the Armenian Genocide, perpetrated by the Ottoman Turks in 1915, people whose ancestors became refugees a century ago in Syria and now, ironically, a century later they follow their ancestors’ paths, turning into refugees themselves in their historical homeland, facing various difficulties, among them socio-economic, socio-ideological, and identity and gender issues, the latter being the main topic of discussion in the present paper. The situation presented above makes us discuss certain questions within this study: how do Syrian-Armenian refugees define themselves and their status? Which are their gender roles in the socio-economic context? How do social and economic challenges re-shape Syrian-Armenian women refugees’ identities? The study applies qualitative research methods of analysis, which includes semi-structured and in-depth interviews with 15 participants (18-25, 26-40 age groups), and two focus group works, involving 8 participants (18-35 age group) for each focus group activity. The activities were carried out in October 2016, Yerevan, Armenia. The study also includes Secondary Data Analysis. In addition, in order to centralize refugee women’s experiences and identity issues, the study adopts a qualitative lens from a feminist standpoint position. It is based on the assumption that human activity structures and limits understanding, and that the distorted comprehension of events or activities has emerged from the male-oriented dominant judgement which can be discovered through uncovering the understanding of the situation from women’s activity perspectives. The findings suggest that identity is dynamic, complex, over-changing and sensitive to time and space, gender and class. The process of re-shaping identity is even more complicated and multi-layered and is based on internal and external factors, conditioned by individual and collective needs and interests. Refugees are mostly considered as people who lost their identity in the past since they have no longer connection anywhere and try to find it in the present. In turn, female refugees, being a more vulnerable class, go through more complicated identity re-formulating discourse negotiations. They stand between the borders of the old and new, borders of lost and re-found selves, borders of creating and self-fashioning, between illusions and the challenging reality. Particularly, refugee women become more sensitive within the discourses of the private and the public domains: some of them try to create a ‘new-self’, creating their space in a new society, whereas others try to negotiate their affective/emotional labour within their own family domains.

Keywords: feminist standpoint position, gender, identity, refugee studies, Syrian-Armenian women refugees

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5211 Diversity: Understanding Multicultural Concerns in Counseling

Authors: Zuwaira Abdullahi

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In this increasing changing world, it is important to be aware of the needs of clients when it comes to race and ethnic diversities. These diversities create difficulties for multicultural counselling: the counsellor’s own culture, attitudes, and theoretical perspective; the client's culture; and the multiplicity of variables comprising an individual's identity. This paper examines the level of realization, sensitization and attitude of counsellors towards individuals that come from different cultural, social and economic background.

Keywords: multicultural, diversities, counselling, needs

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5210 Rethink Urban Resilience: An Introductory Study Towards Resilient Spatial Structure of Refugees Neighborhoods

Authors: Salwa Mohammad Alawneh

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The ongoing humanitarian crises spur rapid and unpredicted refugee influxes resulting in demographic changes in cities. Regarding different urban systems are vulnerable in refugee neighborhoods. With the consequent social, economic, and spatial challenges, cities must respond with a more durable and sustainable approach based on urban resilience. The paper systematically approaches urban resilience to contribute to refugee spaces by reflecting on the overall urban systems of their neighborhoods. The research will review the urban resilience literature to develop an evaluation framework. The developed framework applies urban resilience more holistically in refugee neighborhoods and expands to the urban systems of social, economic, and spatial. However, the main highlight of this paper is the resilient spatial structure in refugee neighborhoods to face the internal and complex stress of refugee waves and their demographic changes. Finding a set of resilient spatial measurements and focusing on urban forms at a neighborhood scale provide vulnerability reduction and enhance adaptation capacity. As a model example, the paper applies these measurements and facilitates geospatial technologies to one of the refugee neighborhoods in Amman, Jordan, namely Al-Jubilee. The application in Al-Jubilee helps to demonstrate a road map towards a developmental pattern in design and planning by different decision-makers of inter-governmental and humanitarian organizations. In this regard, urban resilience improves the humanitarian assistantship of refugee settings beyond providing the essential needs. In conclusion, urban resilience responds to the different challenges of refugee neighborhoods by supporting urban stability, improving livability, and maintaining both urban functions and security.

Keywords: urban resilience of refugee, resilient urban form, refugee neighborhoods, humanitarian assistantship, refugee in Jordan

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5209 Imbalance on the Croatian Housing Market in the Aftermath of an Economic Crisis

Authors: Tamara Slišković, Tomislav Sekur

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This manuscript examines factors that affect demand and supply of the housing market in Croatia. The period from the beginning of this century, until 2008, was characterized by a strong expansion of construction, housing and real estate market in general. Demand for residential units was expanding, and this was supported by favorable lending conditions of banks. Indicators on the supply side, such as the number of newly built houses and the construction volume index were also increasing. Rapid growth of demand, along with the somewhat slower supply growth, led to the situation in which new apartments were sold before the completion of residential buildings. This resulted in a rise of housing price which was indication of a clear link between the housing prices with the supply and demand in the housing market. However, after 2008 general economic conditions in Croatia worsened and demand for housing has fallen dramatically, while supply descended at much slower pace. Given that there is a gap between supply and demand, it can be concluded that the housing market in Croatia is in imbalance. Such trend is accompanied by a relatively small decrease in housing price. The final result of such movements is the large number of unsold housing units at relatively high price levels. For this reason, it can be argued that housing prices are sticky and that, consequently, the price level in the aftermath of a crisis does not correspond to the discrepancy between supply and demand on the Croatian housing market. The degree of rigidity of the housing price can be determined by inclusion of the housing price as the explanatory variable in the housing demand function. Other independent variables are demographic variable (e.g. the number of households), the interest rate on housing loans, households' disposable income and rent. The equilibrium price is reached when the demand for housing equals its supply, and the speed of adjustment of actual prices to equilibrium prices reveals the extent to which the prices are rigid. The latter requires inclusion of the housing prices with time lag as an independent variable in estimating demand function. We also observe the supply side of the housing market, in order to explain to what extent housing prices explain the movement of new construction activity, and other variables that describe the supply. In this context, we test whether new construction on the Croatian market is dependent on current prices or prices with a time lag. Number of dwellings is used to approximate new construction (flow variable), while the housing prices (current or lagged), quantity of dwellings in the previous period (stock variable) and a series of costs related to new construction are independent variables. We conclude that the key reason for the imbalance in the Croatian housing market should be sought in the relative relationship of price elasticities of supply and demand.

Keywords: Croatian housing market, economic crisis, housing prices, supply imbalance, demand imbalance

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5208 Sustainability of Photovoltaic Recycling Planning

Authors: Jun-Ki Choi

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The usage of valuable resources and the potential for waste generation at the end of the life cycle of photovoltaic (PV) technologies necessitate a proactive planning for a PV recycling infrastructure. To ensure the sustainability of PV in large scales of deployment, it is vital to develop and institute low-cost recycling technologies and infrastructure for the emerging PV industry in parallel with the rapid commercialization of these new technologies. There are various issues involved in the economics of PV recycling and this research examine those at macro and micro levels, developing a holistic interpretation of the economic viability of the PV recycling systems. This study developed mathematical models to analyze the profitability of recycling technologies and to guide tactical decisions for allocating optimal location of PV take-back centers (PVTBC), necessary for the collection of end of life products. The economic decision is usually based on the level of the marginal capital cost of each PVTBC, cost of reverse logistics, distance traveled, and the amount of PV waste collected from various locations. Results illustrated that the reverse logistics costs comprise a major portion of the cost of PVTBC; PV recycling centers can be constructed in the optimally selected locations to minimize the total reverse logistics cost for transporting the PV wastes from various collection facilities to the recycling center. In the micro- process level, automated recycling processes should be developed to handle the large amount of growing PV wastes economically. The market price of the reclaimed materials are important factors for deciding the profitability of the recycling process and this illustrates the importance of the recovering the glass and expensive metals from PV modules.

Keywords: photovoltaic, recycling, mathematical models, sustainability

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5207 Community Forest Management and Ecological and Economic Sustainability: A Two-Way Street

Authors: Sony Baral, Harald Vacik

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This study analyzes the sustainability of community forest management in two community forests in Terai and Hills of Nepal, representing four forest types: 1) Shorearobusta, 2) Terai hardwood, 3) Schima-Castanopsis, and 4) other Hills. The sustainability goals for this region include maintaining and enhancing the forest stocks. Considering this, we analysed changes in species composition, stand density, growing stock volume, and growth-to-removal ratio at 3-5 year intervals from 2005-2016 within 109 permanent forest plots (57 in the Terai and 52 in the Hills). To complement inventory data, forest users, forest committee members, and forest officials were consulted. The results indicate that the relative representation of economically valuable tree species has increased. Based on trends in stand density, both forests are being sustainably managed. Pole-sized trees dominated the diameter distribution, however, with a limited number of mature trees and declined regeneration. The forests were over-harvested until 2013 but under-harvested in the recent period in the Hills. In contrast, both forest types were under-harvested throughout the inventory period in the Terai. We found that the ecological dimension of sustainable forest management is strongly achieved while the economic dimension is lacking behind the current potential. Thus, we conclude that maintaining a large number of trees in the forest does not necessarily ensure both ecological and economical sustainability. Instead, priority should be given on a rational estimation of the annual harvest rates to enhance forest resource conditions together with regular benefits to the local communities.

Keywords: community forests, diversity, growing stock, forest management, sustainability, nepal

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5206 Economic Determinants of Maize Production in 2013-2014 in the Individual Farm

Authors: Ewa Krasnodębska

Abstract:

The article presents the costs and income maize cultivation for grain four selected varieties with different numbers of FAO in 2013-2014. Results of the experiments are derived from a field experiment conducted in indywidulnym farm specializing in the production plant located in the eastern part of Mazowieckie voivodship. The experiment examined the profitability of four varieties of maize cultivation: medium early: P8400 (FAO 240) and P8589 (FAO 250), and an average of late: PR38N86 (FAO 270) and P9027 (FAO 260). In order to evaluate the profitability of grain maize production was calculated income from 1 ha of crops in zł and profitability index taking into account the direct payments up to 1 ha. Analyzing the value of crop production can be concluded that the value of the total production of each variety was very much varied and very much depend on the sales price and yield of maize obtained from 1 ha of cultivation. The largest average seed yield of two years at a moisture content of 15% was achieved in a variety PR38N86, which amounted to 12.1 t / ha and the lowest in the variety P8400 - 9.8 t / ha. Income from 1 ha of crops including EU subsidies ranged from 4916.4 zł / ha in 2013 for variety and only 528.7 PR38N86 zł / ha for a variety of P8400 in 2014. Profitability index reached the highest average late PR38N86 variety of FAO 290 over the entire two-year period under study, and the lowest rate of profitability achieved P8400 medium early variety of FAO 240. The profitability of production ranged from 8964.0 zł / ha in 2013 for a variety of PR38N86 to 5616.0 zł / ha for a variety of P8400 in 2014. Cultivation of maize for grain production is attractive and does not require large amounts of work, but its economic rationale is based primarily on the resulting yield and the price of buying.

Keywords: corn, grain, income, profitability

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5205 The Consequences of COVID-19 Crisis on Informal Workers in Brazil: An Analysis of Emergency Aid from the Government

Authors: Michele Romanello

Abstract:

COVID-19 has spread rapidly in Brazil since March 2020, making the country one of the most affected in the world by the pandemic. From an economic point of view, Brazil came from a pre-pandemic period characterized by low or negative growth, with a resulting increase in the number of unemployed and informal workers. This paper considers lockdown implementation in the situation of the large presence of informality in the economy. The objective of the paper is to analyze how the country has tried to help workers affected by economic crisis after the implementation of measures against COVID-19 and whether the emergency assistance from the government has been adequate to contain the increase of informal workers and unemployed. The methodology used in this paper is survival analysis. Through this methodology, the formality – informality, and informality – unemployment transitions are analyzed. This analysis draws data from the Continuous National Household Sample Survey (Continuous PNAD) and from the National Household Sample Survey COVID-19 (PNAD COVID-19) covering the period of January 2020 – July 2020. The results indicate that emergency aid has been not sufficient to reduce the transitions of workers from formal to informal jobs and from informal jobs to unemployment. Emergency aid has been not sufficient considering the previous situation of the country, with levels of poverty and inequality very high. In the next months, another fundamental determinant of the income trajectory in the context of the COVID-19 crisis will be the continuity of the emergency aid, especially considering the fiscal adjustment policy pursued by the government. Therefore, the current negative portrait may be even worse in the coming months.

Keywords: Brazil, COVID-19, informality, survival analysis

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5204 Governance in the Age of Artificial intelligence and E- Government

Authors: Mernoosh Abouzari, Shahrokh Sahraei

Abstract:

Electronic government is a way for governments to use new technology that provides people with the necessary facilities for proper access to government information and services, improving the quality of services and providing broad opportunities to participate in democratic processes and institutions. That leads to providing the possibility of easy use of information technology in order to distribute government services to the customer without holidays, which increases people's satisfaction and participation in political and economic activities. The expansion of e-government services and its movement towards intelligentization has the ability to re-establish the relationship between the government and citizens and the elements and components of the government. Electronic government is the result of the use of information and communication technology (ICT), which by implementing it at the government level, in terms of the efficiency and effectiveness of government systems and the way of providing services, tremendous commercial changes are created, which brings people's satisfaction at the wide level will follow. The main level of electronic government services has become objectified today with the presence of artificial intelligence systems, which recent advances in artificial intelligence represent a revolution in the use of machines to support predictive decision-making and Classification of data. With the use of deep learning tools, artificial intelligence can mean a significant improvement in the delivery of services to citizens and uplift the work of public service professionals while also inspiring a new generation of technocrats to enter government. This smart revolution may put aside some functions of the government, change its components, and concepts such as governance, policymaking or democracy will change in front of artificial intelligence technology, and the top-down position in governance may face serious changes, and If governments delay in using artificial intelligence, the balance of power will change and private companies will monopolize everything with their pioneering in this field, and the world order will also depend on rich multinational companies and in fact, Algorithmic systems will become the ruling systems of the world. It can be said that currently, the revolution in information technology and biotechnology has been started by engineers, large economic companies, and scientists who are rarely aware of the political complexities of their decisions and certainly do not represent anyone. Therefore, it seems that if liberalism, nationalism, or any other religion wants to organize the world of 2050, it should not only rationalize the concept of artificial intelligence and complex data algorithm but also mix them in a new and meaningful narrative. Therefore, the changes caused by artificial intelligence in the political and economic order will lead to a major change in the way all countries deal with the phenomenon of digital globalization. In this paper, while debating the role and performance of e-government, we will discuss the efficiency and application of artificial intelligence in e-government, and we will consider the developments resulting from it in the new world and the concepts of governance.

Keywords: electronic government, artificial intelligence, information and communication technology., system

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5203 The Politics of Plantation Development and Formation of 'Tribal Settlements': Life and Livelihood of the Mannans in the Cardamom Hills of India

Authors: Anu Krishna

Abstract:

Cardamom Hills geographically falls into the Western Ghat region in the state of Kerala (India). The fame of these hills dates back to antiquity as the abode of various indigenous communities and treasure house of spices like cardamom. With the colonial conquest over the region, the evergreen forests got converted into zones of mono-cropping with commercial crops such as coffee, tea, cardamom etc. on plantation basis; a process which has been further accentuated with the migration of settlers during the post-independent times. Curiously, when Cardamom Hills are better known today as the plantation belt of the country or as one of the most fostering grounds of agrarian capitalism producing the lion share of Indian cardamom, the indigenous communities of the place such as the Mannans got alienated of their ancestral lands, became inter-generational proletariats and got reduced into ‘segmented spaces’ called the settlements. While dispossession of land for plantations has dislocated the economic life of the Mannans, the migration of the settlers has resulted into a complete social, cultural, political and demographic dominion over them. This has not only relegated their existential relations, history, culture and association with the place but also condensed them as the ‘Other’ in their own territories. Therefore inquisitively, violation of rights of the communities like Mannans, encroachment of their lands, negation towards their very existence and distortion of their history gets defined as the ‘Manifest Destiny’ of the people and place whereby its inevitability gets manufactured. This paper is an attempt to elicit the ways in which the formation of Mannan settlements are interconnected to the historical reality and contemporary opulence of the plantation industry in the place. The arguments put forth by this study is based on extensive ethnographic fieldwork conducted in various Mannan settlements in the cardamom hills. The study basically dwells on to the methodological premises of multi-sited ethnography wherein information was gathered from different sites such as settlements, plantations and other interactive spaces wherein the Mannans from the settlements engages in socio-economic, cultural and political relations. Such an attempt was made to understand in depth the associations and interactions that people in the settlements have among themselves and others. The study equally uses the method of oral history to understand the alternative history, the socio-cultural and economic life of the people before the importation of plantations to the place. The paper gauges into the ways in which settlements imprisons generations of Mannans into plantation work and acts as moulds for subservient, hardworking plantation labourers.

Keywords: Cardamom Hills, plantations, labourers, Mannans, segmented spaces, settlements

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5202 Shifting Gender Roles: Exploring Settler Communities in Guam and Bali

Authors: Rochelle Alviz, Kirk Johnson

Abstract:

This study explores the changing nature of gender roles in two traditional island societies. The research focuses particularly on the settler populations within each community (the Filipinos in Guam and the Javanese in Bali). The research seeks to understand the influence of both the forces of globalization and the dynamics of competing cultures on gender roles. To achieve this, a qualitative research design is used, employing in-depth interviews with individuals from both communities and field notes from participant observation. The study finds that globalization and competing cultural norms have influenced traditional gender roles and expectations in two primary areas of social life: the family and the economy. The importance of these two areas of social life to both communities has led to changes and adaptations in gender roles. In the family context, individuals reconcile their traditional gender roles from their country of origin with the dominant or indigenous gender roles of their new place of residence. In the economic context, the study finds that gender roles influence economic participation, including the types of jobs individuals pursue based on their gender roles. The results of the study provide valuable insights into the complexities and nuances of gender roles and the different factors that influence their evolution and adaptation over time. The research also highlights the influence of globalization on traditional societies and settler populations and the ways in which individuals navigate the competing cultural norms and expectations surrounding gender roles. The research contributes to a better understanding of the interplay between culture, globalization, and gender roles and the implications of these changes for individuals and communities.

Keywords: gender roles, culture, settler communities, family, economy, Guam, Bali, globalization

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5201 Sustainable Tourism a Challenge to Competitivity: OBSERVE Project

Authors: Rui Lança, Elisa Silva, Fátima Farinha, Miguel José Oliveira, Manuel Duarte Pinheiro, Cátia Miguel

Abstract:

Tourism has a great potential to bring up progress across the Sustainable Development Goals (SDGs). If well managed and monitored, the tourism sector can create quality jobs, reduce poorness and offer incentives for environmental preservation, helping on the transition towards more inclusive and resilient economies. However, without proper safeguards and investments, expansion of the tourism market will increase pressure on biodiversity and the ecosystems on which the livelihoods of local communities depend. Competitivity is a key dimension in tourism, sustainable tourism challenge new dimensions to competitivity, namely environmental, social, institutional and economic achieve a medium and long-term competitivity. It is undoubtedly clear on the tourism sector, the importance of the region sustainability in the current touristic destinations offer. The basis of a tourism region prosperity will depend on /of it. The OBSERVE project intends to be an instrument for monitoring and evaluating the sustainability levels of the Algarve region. Its main objective is to provide environmental, economic, social-cultural and institutional indicators to support the decision-making process for a sustainable growth of the region. The project´s main goal is a digital portal with the most relevant indicators to allow evaluating and communicating the performance of the region in a sustainable growth perspective. This paper presents the OBSERVE project and highlights the potential contribution to a broad perspective of competitivity and its contribution for different stakeholders and the touristic value chain. Limitations and opportunities are also discussed.

Keywords: sustainable tourism, competitivity, OBSERVE project, Algarve region

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5200 Local Development and Community Participation in Owo Local Government Area of Ondo State, Nigeria

Authors: Tolu Lawal

Abstract:

The genuine development of the grassroots particularly in the developing societies depends largely on the participation of the rural populace in policy conception and implementation, especially in the area of development policies, fundamentally, the rural people play a vital and significance role in economic and political development of the nation. This is because the bulk of the economic produce as well as votes come from these areas. However, the much needed development has continued to elude the rural communities inspire of the various development policies carried out by successive governments in the state. The exclusion of rural communities from planning and implementation of facilities meant to benefit them, and the international debate on sustainable rural development led Ondo State government to re-think its rural development policy with a view to establishing more effective strategies for rural development. The 31s initiatives introduced in 2009 emphasizes the important role of communities in their own development. The paper therefore critically assessed the 31s initiative of the present government in Ondo State with a view to knowing its impact on rural people. The study adopted both primary and secondary data to source its information. Interviews were conducted with the key informants, and field survey (visit) was also part of method of collecting data. Documents, reports and records on 31s initiatives in the selected villages and from outside were also consulted. The paper submitted that 31s initiative has not impacted positively on the lives of rural dwellers in Ondo-State, most especially in the areas of infrastructure and integrated development. The findings also suggested that 31s initiatives is not hopeless, but needs a different kind of investment, for example introducing measures of accountability, addressing the politicization of the initiative and exploiting key principles of development and service delivery.

Keywords: development, infrastructure, rural development, participation

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5199 High Titer Cellulosic Ethanol Production Achieved by Fed-Batch Prehydrolysis Simultaneous Enzymatic Saccharification and Fermentation of Sulfite Pretreated Softwood

Authors: Chengyu Dong, Shao-Yuan Leu

Abstract:

Cellulosic ethanol production from lignocellulosic biomass can reduce our reliance on fossil fuel, mitigate climate change, and stimulate rural economic development. The relative low ethanol production (60 g/L) limits the economic viable of lignocellulose-based biorefinery. The ethanol production can be increased up to 80 g/L by removing nearly all the non-cellulosic materials, while the capital of the pretreatment process increased significantly. In this study, a fed-batch prehydrolysis simultaneously saccharification and fermentation process (PSSF) was designed to converse the sulfite pretreated softwood (~30% residual lignin) to high concentrations of ethanol (80 g/L). The liquefaction time of hydrolysis process was shortened down to 24 h by employing the fed-batch strategy. Washing out the spent liquor with water could eliminate the inhibition of the pretreatment spent liquor. However, the ethanol yield of lignocellulose was reduced as the fermentable sugars were also lost during the process. Fed-batch prehydrolyzing the while slurry (i.e. liquid plus solid fraction) pretreated softwood for 24 h followed by simultaneously saccharification and fermentation process at 28 °C can generate 80 g/L ethanol production. Fed-batch strategy is very effectively to eliminate the “solid effect” of the high gravity saccharification, so concentrating the cellulose to nearly 90% by the pretreatment process is not a necessary step to get high ethanol production. Detoxification of the pretreatment spent liquor caused the loss of sugar and reduced the ethanol yield consequently. The tolerance of yeast to inhibitors was better at 28 °C, therefore, reducing the temperature of the following fermentation process is a simple and valid method to produce high ethanol production.

Keywords: cellulosic ethanol, sulfite pretreatment, Fed batch PSSF, temperature

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5198 Stress as Risk Factor for Onset of Type-2 Diabetes Mellitus in Visakhapatnam Tribal Community of Andhra Pradesh, India

Authors: Vijaya Nirmala Pangi, K. V. Subhramanyam, C. Vijay Lakshmi

Abstract:

Background: The prevalence of Type 2 Diabetes Mellitus is increasing drastically at a vigorous rate all over the world population. Aim: The present study aims to determine the prevalence of type-2 diabetes mellitus in Paderu tribal area population of Visakhapatnam district, located in northeastern region of Andhra Pradesh. Methods: A random sampling method was followed in 1025 subjects including controls (n=25) and determined 75-g oral glucose tolerance test to assess the presence of type 2 diabetes mellitus. The effect of anthropometric factors like age, gender, literacy, socio economic status, and environmental risk factors such as body fat response, hypertension and psychophysical stress response were determined in the studied subjects. Results: 78 (7.8%) were diabetic. Type 2 Diabetes Mellitus was found to be comparable between the two genders. Prevalence of diabetes was observed to be high in illiterate, low economic status subjects. Body fat response was comparable between control and diabetic subjects. However hypertension, stress associated enzymes showed significant (p < 0.05) decrease in diabetic subjects compared to controls in both the genders. Conclusion: It appears that there is a rising pattern in the prevalence of diabetes mellitus in tribal area, Paderu, Andhra Pradesh, India compared to previous rural studies.

Keywords: anthropometric studies, hypertension, oral glucose tolerance test, stress enzymes, type-2 diabetes mellitus

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5197 Social Security Reform and Management: The Case of Three Member Territories of the Organisation of Eastern Caribbean States

Authors: Cleopatra Gittens

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It has been recognized that some social security and national insurance systems in the Eastern Caribbean are experiencing ageing populations and economic and other crises that will present a financial challenge of being unable to pay pension benefits in fifteen to twenty years. This has implications for the fiscal and economic positions of the countries themselves. Hence, organizations would need to address the issue urgently. The study adds to the body of knowledge on social security systems and social security reforms in small island developing states (SIDS). It also makes recommendations for the types of reforms that social security systems in other SIDS can implement given their special circumstances. Secondary research is used to gather financial and other related information on three social security schemes in the Eastern Caribbean. Actuarial and financial reports and other documents of the social security systems are analysed to obtain financial and static data on each of the schemes. The findings show that the three schemes studied are experiencing steady increases in benefit expenditure versus contributions and increasing pensioner to insured ratios. The schemes will deplete their reserves between 2038 and 2050. Two of the schemes have increased their retirement age while the other has not embarked on any reforms. One scheme has made changes to its contribution percentages. Due to their small size, small populations and other unique circumstances, the social security schemes in the identified territories are not likely to be able to take advantage of all of the reform initiatives that the developed world embarked on when faced with similar problems. These schemes will need to make incremental changes that align with the timeframes recommended by the actuarial studies.

Keywords: benefits, pension, small island developing states, social security reform

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5196 Agroforestry Systems and Practices and Its Adoption in Kilombero Cluster of Sagcot, Tanzania

Authors: Lazaro E. Nnko, Japhet J. Kashaigili, Gerald C. Monela, Pantaleo K. T. Munishi

Abstract:

Agroforestry systems and practices are perceived to improve livelihood and sustainable management of natural resources. However, their adoption in various regions differs with the biophysical conditions and societal characteristics. This study was conducted in Kilombero District to investigate the factors influencing the adoption of different agroforestry systems and practices in agro-ecosystems and farming systems. A household survey, key informant interviews, and focus group discussion was used for data collection in three villages. Descriptive statistics and multinomial logistic regression in SPSS were applied for analysis. Results show that Igima and Ngajengwa villages had home garden practices dominated, as revealed by 63.3% and 66.7%, respectively, while Mbingu village had mixed intercropping practice with 56.67%. Agrosilvopasture systems were dominant in Igima and Ngajengwa villages with 56.7% and 66.7%, respectively, while in Mbingu village, the dominant system was agrosilviculture with 66.7%. The results from multinomial logistic regression show that different explanatory variable was statistical significance as predictors of the adoption of agroforestry systems and practices. Residence type and sex were the most dominant factor influencing the adoption of agroforestry systems. Duration of stay in the village, availability of extension education, residence, and sex were the dominant factor influencing the adoption of agroforestry practices. The most important and statistically significant factors among these were residence type and sex. The study concludes that agroforestry will be more successful if the local priorities, which include social-economic need characteristics of the society, will be considered in designing systems and practices. The socio-economic need of the community should be addressed in the process of expanding the adoption of agroforestry systems and practices.

Keywords: agroforestry adoption, agroforestry systems, agroforestry practices, agroforestry, Kilombero

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5195 Consumer Over-Indebtedness in Germany: An Investigation of Key Determinants

Authors: Xiaojing Wang, Ann-Marie Ward, Tony Wall

Abstract:

The problem of over-indebtedness has increased since deregulation of the banking industry in the 1980s, and now it has become a major problem for most countries in Europe, including Germany. Consumer debt issues have attracted not only the attention of academics but also government and debt counselling institutions. Overall, this research aims to contribute to the knowledge gap regarding the causes of consumer over-indebtedness in Germany and to develop predictive models for assessing consumer over-indebtedness risk at consumer level. The situation of consumer over-indebtedness is serious in Germany. The relatively high level of social welfare support in Germany suggests that consumer debt problems are caused by other factors, other than just over-spending and income volatility. Prior literature suggests that the overall stability of the economy and level of welfare support for individuals from the structural environment contributes to consumers’ debt problems. In terms of cultural influence, the conspicuous consumption theory in consumer behaviour suggests that consumers would spend more than their means to be seen as similar profiles to consumers in a higher socio-economic class. This results in consumers taking on more debt than they can afford, and eventually becoming over-indebted. Studies have also shown that financial literacy is negatively related to consumer over-indebtedness risk. Whilst prior literature has examined structural and cultural influences respectively, no study has taken a collective approach. To address this gap, a model is developed to investigate the association between consumer over-indebtedness and proxies for influences from the structural and cultural environment based on the above theories. The model also controls for consumer demographic characteristics identified as being of influence in prior literature, such as gender and age, and adverse shocks, such as divorce or bereavement in the household. Benefiting from SOEP regional data, this study is able to conduct quantitative empirical analysis to test both structural and cultural influences at a localised level. Using German Socio-Economic Panel (SOEP) study data from 2006 to 2016, this study finds that social benefits, financial literacy and the existence of conspicuous consumption all contribute to being over-indebted. Generally speaking, the risk of becoming over-indebted is high when consumers are in a low-welfare community, have little awareness of their own financial situation and always over-spend. In order to tackle the problem of over-indebtedness, countermeasures can be taken, for example, increasing consumers’ financial awareness, and the level of welfare support. By analysing causes of consumer over-indebtedness in Germany, this study also provides new insights on the nature and underlying causes of consumer debt issues in Europe.

Keywords: consumer, debt, financial literacy, socio-economic

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