Search results for: agent-based economic model

Authors: Kgolagano Mpejane

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The study applies a New Institutional Economics (NIE) analytical framework to trade in developing economies by assessing the impacts of institutional quality and institutional quality distance on agricultural trade using a panel data of 15 Southern African Development Community (SADC) countries from the years 1991-2010. The issue of institutions on agricultural trade has not been accorded the necessary attention in the literature, particularly in developing economies. Therefore, the paper empirically tests the gravity model of international trade by measuring the impact of political, economic and legal institutions on intra SADC agricultural trade. The gravity model is noted for its exploratory power and strong theoretical foundation. However, the model has statistical shortcomings in dealing with zero trade values and heteroscedasticity residuals leading to biased results. Therefore, this study employs a two stage Heckman selection model with a Probit equation to estimate the influence of institutions on agricultural trade. The selection stages include the inverse Mills ratio to account for the variable bias of the gravity model. The Heckman model accounts for zero trade values and is robust in the presence of heteroscedasticity. The empirical results of the study support the NIE theory premise that institutions matter in trade. The results demonstrate that institutions determine bilateral agricultural trade on different margins with political institutions having positive and significant influence on bilateral agricultural trade flows within the SADC region. Legal and economic institutions have significant and negative effects on SADC trade. Furthermore, the results of this study confirm that institutional quality distance influences agricultural trade. Legal and political institutional distance have a positive and significant influence on bilateral agricultural trade while the influence of economic, institutional quality is negative and insignificant. The results imply that nontrade barriers, in the form of institutional quality and institutional quality distance, are significant factors limiting intra SADC agricultural trade. Therefore, gains from intra SADC agricultural trade can be attained through the improvement of institutions within the region.

Keywords: agricultural trade, institutions, gravity model, SADC

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Authors: Albert Gyamfi

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Cocoa plays critical role in the socio-economic development of Ghana. Meanwhile, smallholder farmers most of whom are illiterate dominate the industry. According to the cocoa-based agricultural knowledge and information system (AKIS) model knowledge is created and transferred to the industry between three key actors: cocoa researchers, extension experts, and cocoa farmers. Dwelling on the SECI model, the media richness theory (MRT), and the AKIS model, a conceptual model of web 2.0-based AKIS model (AKIS 2.0) is developed and used to assess the possible effects of social media usage for knowledge creation in the Ghanaian cocoa industry. A mixed method approach with a survey questionnaire was employed, and a second-order multi-group structural equation model (SEM) was used to analyze the data. The study concludes that the use of web 2.0 applications for knowledge creation would lead to sustainable interactions among the key knowledge actors for effective knowledge creation in the cocoa industry in Ghana.

Keywords: agriculture, cocoa, knowledge, media, web 2.0

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Authors: A. Ribeiro, N. Pacheco, M. Soares, N. Valério, L. Nascimento, A. Silva, C. Vilarinho, J. Carvalho

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Hydrogen will play a key role in changing the current global energy paradigm, associated with the high use of fossil fuels and the release of greenhouse gases. This work intended to identify and quantify the potential of Solid Recovered Fuels (SFR) existing in Portugal and project the cost of hydrogen, produced through its steam gasification in different scenarios, associated with the size or capacity of the plant and the existence of carbon capture and storage (CCS) systems. Therefore, it was performed a techno-economic analysis simulation using an ASPEN base model, the H2A Hydrogen Production Model Version 3.2018. Regarding the production of SRF, it was possible to verify the annual production of more than 200 thousand tons of SRF in Portugal in 2019. The results of the techno-economic analysis simulations showed that in the scenarios containing a high (200,000 tons/year) and medium (40,000 tons/year) amount of SFR, the cost of hydrogen production was competitive concerning the current prices of hydrogen. The results indicate that scenarios 1 and 2, which use 200,000 tons of SRF per year, have lower hydrogen production values, 1.22 USD/kg H2 and 1.63 USD/kg H2, respectively. The cost of producing hydrogen without carbon capture and storage (CCS) systems in an average amount of SFR (40,000 tons/year) was 1.70 USD/kg H2. In turn, scenarios 5 (without CCS) and 6 (with CCS), which use only 683 tons of SFR from urban sources, have the highest costs, 6.54 USD/kg H2 and 908.97 USD/kg H2, respectively. Therefore, it was possible to conclude that there is a huge potential for the use of SRF for the production of hydrogen through steam gasification in Portugal.

Keywords: gasification, hydrogen, solid recovered fuels, techno-economic analysis, waste-to-energy

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Authors: Maria Elisa B. Manuel

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The Philippine housing sector is bracing challenges with the massive housing backlog and the adamant cycle of relocation, resettlement and returns to the cities of informal settler families due to the vast inaccessibility of necessities and opportunities in the past off-city housing projects. Bistekville 2 has been established as a model socialized housing project by utilizing government partnerships with private developers and individuals in the first in-city and onsite resettlement effort in the country. The study looked into the resilience of the residents to idiosyncratic economic shocks by analyzing their vulnerabilities, assets and coping strategies. The study formulated an economic resilience framework to identify how these factors that interact to build the household’s capacity to positively adapt to sudden expenses in their households. The framework is supplemented with a scale that presents the proximity of the household to resilience by identifying through its indicators whether the households are in the level of subsistence, coping, adaptive or transformative. Survey interviews were conducted with 91 households from Bistekville 2 on the components that have been identified by the framework that was processed with qualitative and quantitative processes. The study has found that the households are highly vulnerable due to their family composition and other conditions such as unhealthy loans, inconsistent amortization payment. Along with their high vulnerability, the households have inadequate strategies to anticipate shocks and primarily react to the shock. This has led to the conclusion that the households do not reflect resilience to idiosyncratic economic shocks and are still at the level of coping.

Keywords: idiosyncratic economic shocks, socialized housing, economic resilience, economic vulnerability, adaptive capacity

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Authors: Yunita Anwar, Maya Safira Dewi

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With the increasing importance on digital TV industry, there must be several incentives given to support the growth of the industry. Prior research have found mixed findings of economic and fiscal incentives to economic growth, which means these incentives do not necessarily boost the economic growth while providing support to a particular industry. Focusing on a setting of digital TV transition in Indonesia, this research will conduct document analysis to analyze incentives have been given in other country and incentives currently available in Indonesia. Our results recommend that VAT exemption and local tax incentives could be considered to be added to the incentives list available for digital TV industry.

Keywords: Digital TV transition, Economic Incentives, Fiscal Incentives, Policy.

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Authors: A. Hany A. Khater, G. M. Mostafa, M. R. Badawy

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The techno-economic analysis of the nuclear desalination is a very important tool that enables studying of the mutual effects between the nuclear power plant and the coupled desalination plant under different operating conditions, and hence investigating the feasibility of safe and economical production of potable water. For this purpose, a comprehensive model for both technical and economic performance evaluation of the nuclear desalination has been prepared. The developed model has the capability to be used in performing a parametric study for the performance measuring parameters of the nuclear desalination system. Also a sensitivity analysis of varying important factors such as interest/discount rate, power plant availability, fossil fuel prices, purchased electricity price, nuclear fuel cost, and specific base cost for both power and water plant has been conducted.

Keywords: uclear desalination, PWR, MED, MED-TVC, MSF, RO

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Authors: Abdullah Eqal Al Mazrooei

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In this work, a new nonlinear model will be introduced. The model is in the state-space form. The nonlinearity of this model is in the state equation where the state vector is multiplied by its self. This technique makes our model generalizes many famous models as Lotka-Volterra model and Lorenz model which have many applications in the real life. We will apply our new model to estimate the wind speed by using a new nonlinear estimator which suitable to work with our model.

Keywords: nonlinear systems, state-space model, Kronecker product, nonlinear estimator

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Authors: Ogunlana Olarewaju Fatai, Kelani Fatai Adeshina

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The interplay of corruption and institutional quality determines how effective and efficient an economy progresses. An efficient institutional quality is a key requirement for economic stability. Institutional quality in most cases has been used interchangeably with Governance and these have given room for proxies that legitimized Governance as measures for institutional quality. A poorly-tailored institutional quality has a penalizing effect on corruption and economic growth, while defective institutional quality breeds corruption. Corruption is a hydra-headed phenomenon as it manifests in different forms. The most celebrated definition of corruption is given as “the use or abuse of public office for private benefits or gains”. It also denotes an arrangement between two mutual parties in the determination and allocation of state resources for pecuniary benefits to circumvent state efficiency. This study employed Barro (1990) type augmented model to analyze the nexus among corruption, institutional quality and economic growth in Nigeria using annual time series data, which spanned the period 1996-2019. Within the analytical framework of Johansen Cointegration technique, Error Correction Mechanism (ECM) and Granger Causality tests, findings revealed a long-run relationship between economic growth, corruption and selected measures of institutional quality. The long run results suggested that all the measures of institutional quality except voice & accountability and regulatory quality are positively disposed to economic growth. Moreover, the short-run estimation indicated a reconciliation of the divergent views on corruption which pointed at “sand the wheel” and “grease the wheel” of growth. In addition, regulatory quality and the rule of law indicated a negative influence on economic growth in Nigeria. Government effectiveness and voice & accountability, however, indicated a positive influence on economic growth. The Granger causality test results suggested a one-way causality between GDP and Corruption and also between corruption and institutional quality. Policy implications from this study pointed at checking corruption and streamlining institutional quality framework for better and sustained economic development.

Keywords: institutional quality, corruption, economic growth, public policy

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Authors: Haga Abdelrahman Elimam

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This paper investigates the connotation, and some of the realistic implications, of the economic reform of health sector in under developed countries. The paper investigates the issues that economic reforms have to address, and the policy targets they are considered to accomplish. The work argues that the development of economic reform is not connected only with understanding the priorities and refining them, furthermore with reformation and restructuring the organizations through which health policies are employed. Considering various organizational values, that are likely to be regular to all economic reform programs, a regulatory approach to institutional reform is unsuitable. The paper further investigates the selection of economic reform that may as well influence via technical suggestions and analysis, but the verdict to continue, and the consequent success of execution, eventually depends on the progressive political sustainability. The paper concludes by giving examples of institutional reforms from various underdeveloped countries and includes recommendation of the responsibility and control of donor organizations.

Keywords: economic reform, health sector, underdeveloped countries, technical suggestions

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Authors: Paolo Russu

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The purpose of the present paper is to highlight some features of an economic growth model with environmental negative externalities, giving rise to a three-dimensional dynamic system. In particular, we show that the economy, which is based on a Perfect-Substitution Technologies function of production, has no neither indeterminacy nor poverty trap. This implies that equilibrium select by economy depends on the history (initial values of state variable) of the economy rather than on expectations of economies agents. Moreover, by contrast, we prove that the basin of attraction of locally equilibrium points may be very large, as they can extend up to the boundary of the system phase space. The infinite-horizon optimal control problem has the purpose of maximizing the representative agent’s instantaneous utility function depending on leisure and consumption.

Keywords: Hopf bifurcation, open-access natural resources, optimal control, perfect-substitution technologies, Poincarè compactification

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Authors: Satish Y. Deodhar

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Science without history is like a man without memory. The colossal history of India stores many ideas on economic ethics and public policy, which have been forgotten in the course of time. This paper is an attempt to bring to the fore contributions from ancient Indian treatises. In this context, the paper briefly summarizes alternative economic ideas such as communism, capitalism, and the holistic approach of ancient Indian writings. Thereafter, the idea of a welfare brick for an individual consisting of three dimensions -Purusharthas, Ashramas, and Varnas is discussed. Given the contours of the welfare brick, the concept of the state, its economic policies, markets, prices, interest rates, and credit are covered next. This is followed by delving into the treatment of land, property rights, guilds, and labour relations. The penultimate section summarises the economic advice offered to the head of a household in the treatise Shukranitisara. Finally, in concluding comments, the relevance of ancient Indian writings for modern times is discussed -both for pedagogy and economic policies.

Keywords: ancient Indian treatises, history of economic thought, science of political economy, Sanskrit

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Authors: Yahya Jahangiri, Ali Almasi

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Currently capitalism is one of the most important economic issues discussed by great scholars around the world. But Islamic approach, regarding this issue may differ both western and eastern views. A greatest scholar in Islamic economy ‘especially in Shia’ is Martyr Muhammad Baqir Al-Sadr. He wrote “Our economy” (Iqtisaduna) to present an economic point of view according to the Islamic teachings. In this regard firstly we will mention three approaches which are common in Muslim scullers about the economic science and then the main approach which is Sadr's view is described here. His claim explains that Islam and capitalism are in conflict with each other. And finally he explains the relationship between Islam and economy and he suggests the Islamic point of view in economy and its foundations as a solution for economic problems which we face today.

Keywords: Islam, economic science, capitalism, Martyr Sadr

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Authors: Walailak Atthirawong

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By the end of 2015, the Association of Southeast Asian Nations (ASEAN) countries proclaim to transform into the next stage of an economic era by having a single market and production base called ASEAN Economic Community (AEC). One objective of the AEC is to establish ASEAN as a single market and one production base making ASEAN highly competitive economic region and competitive with new mechanisms. As a result, it will open more opportunities to enterprises in both trade and investment, which offering a competitive market of US$ 2.6 trillion and over 622 million people. Location decision plays a key role in achieving corporate competitiveness. Hence, it may be necessary for enterprises to redesign their supply chains via enlarging a new production base which has low labor cost, high labor skill and numerous of labor available. This strategy will help companies especially for apparel industry in order to maintain a competitive position in the global market. Therefore, in this paper a generic model for location selection decision for Thai apparel industry using Fuzzy Analytical Network Process (FANP) is proposed. Myanmar, Vietnam and Cambodia are referred for alternative location decision from interviewing expert persons in this industry who have planned to enlarge their businesses in AEC countries. The contribution of this paper lies in proposing an approach model that is more practical and trustworthy to top management in making a decision on location selection.

Keywords: apparel industry, ASEAN Economic Community (AEC), Fuzzy Analytical Network Process (FANP), location decision

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Authors: Dimitrios J. Dimitriou

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The decades after the end of the second War provide evidence that infrastructures investments contibute to economic development, on terms of productivity and income growth. In order to force productivity and increase competitiveness the financing of large transport infrastructure projects are on the top of the agenda in strategic planning process. Such a decision may take form some days to some decades and stakeholders as well as decision makers need tools in order to estimate the economic impact on natioanl economy of such an investment. The key question in such decisions is if the effects caused by the new infrastructure could be able to boost economic development on one hand, and create new jobs and activities on the other. This paper deals with the review of estimation of the mega transport infrastructure projects economic effects in economy.

Keywords: economic impact, transport infrastructure, strategic planning, decision making

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

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

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

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Authors: Risanda Alirastra Budiantoro, Riesanda Najmi Sasmita, Sri Herianingrum

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Allah has given the guidance in the form of Islam for Muslim to take and lead all the aspects of life including the economic activity. The Islamic economic system is believed to be the answer to the economic problems that exist at this time. The goal is to achieve falah in kaffah by not doing some economic activities that are in violation as prescribed by Islam. An example for this is riba. Discourse on riba can be said ‘classical’ both in the development of Islamic thought and in Islamic civilization because riba often occurs in all aspects of public life, especially economic transactions (in Islam called muamalah). Riba is an additional retrieval, either in a sale and purchase transaction or lending in a false or contrary to the principle of muamalah in Islam. Prohibition of riba is obtained from various sources by the Qur'an and Hadith Rasulullah SAW, so the scholars firmly and clearly defined the prohibition of riba because there are exploitative elements that can harm the others. So, this study is aimed to identify Islamic economic system and the prohibition of riba in historical perspective. From the results of this study, it is expected to be a good reference for the reader to understand the Islamic economic system and riba in the future.

Keywords: economics system, riba, historical perspective, economy

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Authors: Smart E. Amanfo

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Although the exact functional relationship between energy consumption and economic growth and development remains a complex social science, there is a sustained growing of agreement among energy economists and the likes on direct or indirect role of energy use in the development process, and as sustenance for many of societal achieved socio-economic and environmental developments in any economy. According to OECD, the world economy will double by 2050 in which the two members of BRICS (Brazil, Russia, India, China and South Africa) countries: China and India lead. There is a global apprehension that if countries constituting the epicenter of the present and future economic growth follow the same trajectory as during and after Industrial Revolution, involving higher energy throughputs, especially fossil fuels, the already known and models predicted threats of climate change and global warming could be exacerbated, especially in the developing economies. The international community’s challenge is how to address the trilemma of economic growth, social development, poverty eradication and stability of the ecological systems. This paper aims at providing the estimates of economic growth, energy consumption, and carbon dioxide emissions using BRICS members’ panel data from 1980 to 2017. The preliminary results based on fixed effect econometric model show positive significant relationship between energy consumption and economic growth. The paper further identified a strong relationship between economic growth and CO2 emissions which suggests that the global agenda of low-carbon-led growth and development is not a straight forward achievable The study therefore highlights the need for BRICS member states to intensify low-emissions-based production and consumption policies, increase renewables in order to avoid further deterioration of climate change impacts.

Keywords: BRICS, sustainability, sustainable development, energy consumption, economic growth

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Authors: Supakij Saisopon

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The process of economic development incurs spatial transformation. This spatial alternation also causes environmental impacts, leading to higher pollution. In the case of Thailand, there is still a lack of price-endogenous quantitative analysis incorporating relationships among economic growth, land-use change, and environmental impact. Therefore, this paper aimed at developing the Computable General Equilibrium (CGE) model with the capability of stimulating such mutual effects. The developed CGE model has also incorporated the nested constant elasticity of transformation (CET) structure that describes the spatial redistribution mechanism between agricultural land and urban area. The simulation results showed that the 1% decrease in the availability of agricultural land lowers the value-added of agricultural by 0.036%. Similarly, the 1% reduction of availability of urban areas can decrease the value-added of manufacturing and service sectors by 0.05% and 0.047%, respectively. Moreover, the outcomes indicate that the increasing farming and urban areas induce higher volumes of solid waste, wastewater, and air pollution. Specifically, the 1% increase in the urban area can increase pollution as follows: (1) the solid waste increase by 0.049%, (2) water pollution ̶ indicated by biochemical oxygen demand (BOD) value ̶ increase by 0.051% and (3) air pollution ̶ indicated by the volumes of CO₂, N₂O, NOₓ, CH₄, and SO₂ ̶ increase within the range of 0.045%–0.051%. With the simulation for exploring the sustainable development path, a 1% increase in agricultural land use efficiency leads to the shrinking demand for agricultural land. But this is not happening in urban, a 1% scale increase in urban utilization results in still increasing demand for land. Therefore, advanced clean production technology is necessary to align the increasing land-use efficiency with the lowered pollution density.

Keywords: CGE model, CET structure, environmental impact, land use

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Authors: Behnam Habibi Dargah

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The economics of cost-benefit theory seeks to monitor claims and determine their final price. The cost of litigation is important because it is a measure of the efficiency of the justice system. From an economic point of view, the cost of litigation is considered to be the point of equilibrium of litigation, whereby litigation is regarded as a high-risk investment and is initiated when the costs are less than the probable and expected benefits. Costs are economically separated into private and social costs. Private cost includes material (direct and indirect) and spiritual costs. The social costs of litigation are also subsidized-centric due to the public and governmental nature of litigation and cover both types of bureaucratic bureaucracy and the costs of judicial misconduct. Macroeconomic policy in the economics of justice is the reverse engineering of controlling the social costs of litigation by employing selective litigation and working on the judicial culture to achieve rationality in the monopoly system. Procedures for controlling and managing court costs are also circumscribed to economic patterns in the field. Rational cost allocation model and cost transfer model. The rational allocation model deals with cost-tolerance systems, and the transfer model also considers three models of transferability, including legal, judicial and contractual transferability, which will be described and explored in the present article in a comparative manner.

Keywords: cost of litigation, economics of litigation, private cost, social cost, cost of litigation

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Authors: Guilherme B. B. Vieira, Rafael M. da Silva, Eliana T. P. Senna, Luiz A. S. Senna, Francisco J. Kliemann Neto

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Due to the importance of ports to trade and economic development of the regions in which they are inserted, in recent decades the number of studies devoted to this subject has increased. Part of these studies consider the ports as business agglomerations and focuses on port governance. This is an important approach since the port performance is the result of activities performed by actors belonging to the port-logistics chain, which need to be properly coordinated. This coordination takes place through a port governance model. Given this context, this study aims to analyze the governance model of the port of Santos from the perspective of port customers. To do this, a closed-ended questionnaire based on a conceptual model that considers the key dimensions associated with port governance was applied to the international freight forwarders that operate in the port. The results show the applicability of the considered model and highlight improvement opportunities to be implemented at the port of Santos.

Keywords: port governance, model, Port of Santos, customers’ perception

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Authors: Karim Hamidi Machekposhti, Hossein Sedghi, Abdolrasoul Telvari, Hossein Babazadeh

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Floods have huge environmental and economic impact. Therefore, flood prediction is given a lot of attention due to its importance. This study analysed the annual maximum streamflow (discharge) (AMS or AMD) of Karkheh River in Karkheh River Basin for flood predicting using ARIMA model. For this purpose, we use the Box-Jenkins approach, which contains four-stage method model identification, parameter estimation, diagnostic checking and forecasting (predicting). The main tool used in ARIMA modelling was the SAS and SPSS software. Model identification was done by visual inspection on the ACF and PACF. SAS software computed the model parameters using the ML, CLS and ULS methods. The diagnostic checking tests, AIC criterion, RACF graph and RPACF graphs, were used for selected model verification. In this study, the best ARIMA models for Annual Maximum Discharge (AMD) time series was (4,1,1) with their AIC value of 88.87. The RACF and RPACF showed residuals’ independence. To forecast AMD for 10 future years, this model showed the ability of the model to predict floods of the river under study in the Karkheh River Basin. Model accuracy was checked by comparing the predicted and observation series by using coefficient of determination (R²).

Keywords: time series modelling, stochastic processes, ARIMA model, Karkheh river

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Authors: Rosa Hendijani, Mohammadhesam Hajighasemi

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As of late, the sharing economy has become an important type of business model. Online taxi services are one example that has grown rapidly around the world. This study examines the factors influencing the use of online taxis as one form of IT-enabled sharing services based on the theory of planned behavior (TPB). Based on the theory of planned behavior, these factors can be divided into three categories, including the ones related to attitude (e.g., image and perceived usefulness), normative believes (e.g., subjective norms), and behavioral control (e.g., technology facilitating conditions and self-efficacy). Three other factors were also considered based on the literature, including perceived economic benefits, openness towards using shared services, and perceived availability. The effect of all these variables was tested both directly and indirectly through intention as the mediating variable. A survey method was used to test the research hypotheses. In total, 361 individuals partook in the study. The results of a multiple regression analysis on behavior showed that perceived economic benefits, compatibility, and subjective norms were important factors influencing behavior among online taxi users. In addition, intention partially mediated the effect of perceived economic benefits and compatibility on behavior. It can be concluded that perceived economic benefits, compatibility, and subjective norms are the three main factors that influence behavior among online taxi users.

Keywords: collaborative consumption, IT-enabled sharing services model, online taxi, sharing economy, theory of planned behavior

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Authors: James Alberto Ortega Morales, Nelson Andrés Martínez Marín

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The bulding industry is one of the most important sectors all around the world in terms of contribution to index like GDP and labor. On the other hand, it is a major contributor to Greenhouse Gases (GHG) and waste generation contributing to global warming. In this sense, it is necessary to establish sustainable practices both from the strategic point of view to the operations point of view as well in all business and industries. Business models don’t scape to this reality attending it´s mediator role between strategy and operations. Business models can turn from the traditional practices searching economic benefits to sustainable bussines models that generate both economic value and value for society and the environment. Recent advances in the analysis of sustainable business models find different classifications that allow finding potential triple bottom line (economic, social and environmental) solutions applicable in every business sector. Into the metioned Advances have been identified, 11 groups and 45 patterns of sustainable business models have been identified; such patterns can be found either in the business models as a whole or found concurrently in their components. This article presents the analysis of a case study, seeking to identify the components and elements that are part of it, using the ECO CANVAS conceptual model. The case study allows showing the concurrent existence of different patterns of business models for sustainability empirically, serving as an example and inspiration for other Latin American companies interested in integrating sustainability into their new and existing business models.

Keywords: sustainable business models, business sustainability, business model patterns, case study, construction industry

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Authors: L. Aparecida Bastos, J. Leige Lopes, J. Crepaldi, R. Monteiro da Silva

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The objective of this study is to analyze the evolution of some social and economic indicators of Mercosur´s economies from 1980 to 2012, based on the statistics of the Latin American Integration Association (LAIA). The objective is to observe if after the accession of these economies to Mercosur (the first accessions occurred in 1994) these indicators showed better performance, in order to demonstrate if economic integration contributed to improved trade, macroeconomic performance, and level of social and economic development of member countries. To this end, the methodologies used will be a literature review and descriptive statistics. The theoretical framework that guides the work are the theories of Integration: Classical Liberal, Marxist and structural-proactive. The results reveal that most social and economic indicators showed better performance in those economies that joined Mercosur after 1994. This work is the result of an investigation already completed.

Keywords: economic integration, Mercosur, social indicators, economic indicators

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Authors: Mauricio Molina

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The present research project aims to determine whether it is possible to have a statement, allowing you to have an economic model to establish clearly if the population that uses the rail system underground in the city of Medellin with an increase in productivity total factor. The present project aims to concentrate on the surroundings to the system underground for a period of 60 months in the city of Medellin. According to the review bibliographic is can establish that in it most of them cases, the cities that have with systems of transport rail are more productive. And should to its time present is an analysis that may lead to determine if effectively the use of the transport railway improves the productivity of a city and its inhabitants.

Keywords: economic growth, mobility urban, total factor productivity, rail transport

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Authors: Faduma Ahmed-Ali

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The up and coming new generation of travelers will change how the world will achieve its global connectivity. The goal is that through people and technological advancement world-wide, people will be able to better explore the culture and beauty, as well as gain a better understanding of the core values of each host countries treasures. Through Rika's unique world connection model approach, the tourist can explore their destination with the help of local connections. Achieving a complete understanding of the host country while ensuring equal economic prosperity and cultural exchange is key to changing the face of tourism. A recent survey conducted by the author at Portland International Airport shows that over 50% of tourists entering Portland, Oregon are more eager to explore the city through local residents rather than an already planned itinerary created by travel companies. This new model, Rika, aims to shed light to the importance of connecting tourists with the technological tools that increase connectivity to the locals for a better travel experience and that fosters shared economic prosperity throughout a community achieving the goal of creating a sustainable, people driven economy.

Keywords: RIKA, tourism, connection, technology, economic impact, sustainability, hospitality, strategies, tourism development, environment

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Authors: Noah Yusuf

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The present paper examined the current level of socio-political and economic development in Africa. Models and experiences from other regions of the world, especially, developing ones with similar historical experience with Africa, were explored. The paper concluded that recommendations emanating from past conferences, seminars and symposia on the continent’s socio-economic and political challenges have been poorly implemented because of lack of strong political will; the donor syndrome; weak resource base; capacity constraints in institutions; and lack of accountability, transparency and poor governance. It is, therefore, recommended that African countries need implement sound policies and reforms on a comprehensive basis, if they are to achieve the desired socio-economic and political transformation; and the African in Diasporas represent critical instruments in attaining the socio-economic and political objectives of the continent.

Keywords: Africa, political transformation, economic transformation, Africans in diasporas

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Authors: Fryanto Anugrah Rhamdhani Rhamdhani, Hana Riana Permatasari

Abstract:

The aim of this study analyzes the inclusive of economic growth and analyzes the inclusive of economic growth determinant in regency and city (West Java Province). The background this study Economic Growth can do not afford to reduce poverty, Disparity and expand The Workforce. Referring Central Bureau Of Statistic West Java Province report in 2015 recorded only 5 regions able reduce poverty, 3 regions able reduce Gini Ratio and 7 regions able Workforce Absorption, meanwhile, 11 regions was improved Economic Growth. The Inclusive of Economic Growth definition based on various literature means the quality Economic Growth able reduce Poverty, Gini Ratio, and Workforce absorption. This study adopted the measurement Inclusive Economic of Growth Klassen and analyzes factor in Term Reducing Poverty, Gini Ratio, and the workforce Absorption. Data used panels data composite time series and cross-section including 25 regency and cities regions from Central Bureau Of Statistic West Java Province during 2014-2015. As a result, the measurement inclusive economic of growth Klassen 2014-2015 from 25 regency and cities shows all region does not inclusive reducing Poverty, only 2 regions able reduce Gini Ratio and 3 regions able increase Workforce absorption. Different from the result the measurement Inclusive Economic of Growth for workforce absorption, several regions shows a negative coefficient indicates Economic Growth decline Workforce absorption. The outcome of this study analyzes factor of Inclusive economic of Growth, so that give recommendations for government achieve inclusive economic of growth toward Sustainable Economic. Can be Concluded above low-quality Economic Growth, that due to all region does not inclusive Economic of Growth.

Keywords: inclusive economic growth, Gini ratio, poverty, workforce

Procedia PDF Downloads 258

Authors: Yifu Ding, Vijay Avinash, Malcolm McCulloch

Abstract:

As the proliferation of decentralized energy systems, the UK power system allows small-scale entities such as microgrids (MGs) to tender multiple energy services including energy arbitrage and frequency responses (FRs). However, its operation requires the balance between the uncertain renewable generations and loads in real-time and has to fulfill their provision requirements of contract services continuously during the time window agreed, otherwise it will be penalized for the under-delivered provision. To hedge against risks due to uncertainties and maximize the economic benefits, we propose a stochastic model predictive control (SMPC) framework to optimize its operation for the multi-service provision. Distinguished from previous works, we include a detailed economic-degradation model of the lithium-ion battery to quantify the costs of different service provisions, as well as accurately describe the changing dynamics of the battery. Considering a branch of load and generation scenarios and the battery aging, we formulate a risk-averse cost function using conditional value at risk (CVaR). It aims to achieve the maximum expected net revenue and avoids severe losses. The framework will be performed on a case study of a PV-battery grid-tied microgrid in the UK with real-life data. To highlight its performance, the framework will be compared with the case without the degradation model and the deterministic formulation.

Keywords: model predictive control (MPC), battery degradation, frequency response, microgrids

Procedia PDF Downloads 118

Authors: Syed Toqueer, Omer Younus

Abstract:

Terrorism, today, has emerged as a global menace with Pakistan being the most adversely affected state. Therefore, the motive behind this study is to empirically establish the linkage of terrorism with socio-economic (uneven income distribution, poverty and unemployment) and political nexuses so that a policy recommendation can be put forth to better approach this issue in Pakistan. For this purpose, the study employs two competing models, namely, the distributed lag model and OLS, so that findings of the model may be consolidated comprehensively, over the reference period of 1984-2012. The findings of both models are indicative of the fact that uneven income distribution of Pakistan is rather a contributing factor towards terrorism when measured through GDP per capita. This supports the hypothesis that immiserizing modernization theory is applicable for the state of Pakistan where the underprivileged are marginalized. Results also suggest that other socio-economic variables (poverty, unemployment and consumer confidence) can condense the brutality of terrorism once these conditions are catered to and improved. The rational of opportunity cost is at the base of this argument. Poor conditions of employment and poverty reduces the opportunity cost for individuals to be recruited by terrorist organizations as economic returns are considerably low and thus increasing the supply of volunteers and subsequently increasing the intensity of terrorism. The argument of political freedom as a means of lowering terrorism stands true. The more the people are politically repressed the more alternative and illegal means they will find to make their voice heard. Also, the argument that politically transitioning economy faces more terrorism is found applicable for Pakistan. Finally, the study contributes to an ongoing debate on which of the two set of factors are more significant with relation to terrorism by suggesting that socio-economic factors are found to be the primary causes of terrorism for Pakistan.

Keywords: terrorism, socioeconomic conditions, political freedom, distributed lag model, ordinary least square

Procedia PDF Downloads 320