Search results for: queering economies

Authors: Markus Heck, Hans Vettiger

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Small and medium-sized enterprises (SME) are the backbone of central Europe’s economies and have a significant contribution to the gross domestic product. Production planning and scheduling (PPS) is still a crucial element in manufacturing industries of the 21st century even though this area of research is more than a century old. The topic of PPS is well researched especially in the context of large enterprises in the manufacturing industry. However, the implementation of PPS methodologies within SME is mostly unobserved. This work analyzes how PPS is implemented in SME with the geographical focus on Switzerland and its vicinity. Based on restricted resources compared to large enterprises, SME have to face different challenges. The real problem areas of selected enterprises in regards of PPS are identified and evaluated. For the identified real-life problem areas of SME clear and detailed recommendations are created, covering concepts and best practices and the efficient usage of PPS. Furthermore, the economic and entrepreneurial value for companies is lined out and why the implementation of the introduced recommendations is advised.

Keywords: central Europe, PPS, production planning, SME

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Authors: Mncedisi Trinity Dewa, Andre Francois Van Der Merwe, Stephen Matope

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Tool, Die and Mould-making (TDM) firms have been known to play a pivotal role in the growth and development of the manufacturing sectors in most economies. Their output contributes significantly to the quality, cost and delivery speed of final manufactured parts. Unfortunately, the South African Tool, Die and Mould-making manufacturers have not been competing on the local or global market in a significant way. This reality has hampered the productivity and growth of the sector thus attracting intervention. The paper explores the shortcomings South African toolmakers have to overcome to restore their competitive position globally. Results from a global benchmarking survey on the tooling sector are used to establish a roadmap of what South African toolmakers can do to become a productive, World Class force on the global market.

Keywords: competitive performance objectives, toolmakers, world-class manufacturing, lead times

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Authors: Josip Visković, Ana Rimac Smiljanić, Ines Ivić

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Housing loans play an important role in CEE countries’ economies. This fact is based on their share in total loans to households and their importance for economic activity and growth in CEE countries. Therefore, it is important to find out key determinants of housing loans demand in these countries. The aim of this study is to research and analyze the determinants of the demand for housing loans in Croatia. In this regard, the effect of economic activity, loan terms and real estate prices were analyzed. Also, the aim of this study is to find out what motivates people to take housing loans. Therefore, primarily empirical study was conducted among the Croatian residents. The results show that demand for housing loans is positively affected by economic growth, higher personal income and flexible loan terms, while it is negatively affected by interest rate rise.

Keywords: CEE countries, Croatia, demand determinants, housing loans

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Authors: Arunas Burinskas, Manuela Tvaronavičienė

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Although the new trade theories, unlike the theories of an industrial organisation, see the structure of the market and competition between enterprises through their heterogeneity according to various parameters, they do not pay any particular attention to the analysis of the market structure and its development. In this article, although we relied mainly on models developed by the scholars of new trade theory, we proposed a different approach. In our simulation model, we model market demand according to normal distribution function, while on the supply side (as it is in the new trade theory models), productivity is modeled with the Pareto distribution function. The results of the simulation show that companies with higher productivity (lower marginal costs) do not pass on all the benefits of such economies to buyers. However, even with higher marginal costs, firms can choose to offer higher value-added goods to stay in the market. In general, the structure of the market is formed quickly enough and depends on the skills available to firms.

Keywords: market, structure, simulation, heterogenous firms

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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: Dereje Ferede, Solomon Negash

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Artificial Intelligence (AI) is a key enabler and driver to transform and revolutionize the healthcare industries. However, utilizing AI and achieving these benefits is challenging for different sectors in wide-ranging, more difficult for developing economy healthcare. Due to this, real-world clinical execution and implementation of AI have not yet aged. We believe that examining the determinants is key to addressing these challenges. Furthermore, the literature does not yet particularize determinants of AI capabilities and ways of empowering the healthcare ecosystem to develop AI capabilities in a developing economy. Thus, this study aims to position AI as a digital transformation weapon for the healthcare ecosystem by examining AI capability determinants and providing insights on better empowering the healthcare industry to develop AI capabilities. To do so, we base on the technology-organization-environment (TOE) model and will apply a mixed research approach. We will conclude with recommendations based on findings for future practitioners and researchers.

Keywords: artificial intelligence, capability, digital transformation, developing economies, healthcare

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Authors: S. Jimenez, R.Duarte, J.Sanchez-Choliz, I. Villanua

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There is a certain consensus in economic literature about the factors that have influenced in historical differences in growth rates observed between developed and developing countries. However, it is less clear what elements have marked different paths of growth in developed economies in recent decades. R&D has always been seen as one of the major sources of technological progress, and productivity growth, which is directly influenced by technological developments. Following recent literature, we can say that ‘innovation pushes the technological frontier forward’ as well as encourage future innovation through the creation of externalities. In other words, productivity benefits from innovation are not fully appropriated by innovators, but it also spread through the rest of the economies encouraging absorptive capacities, what have become especially important in a context of increasing fragmentation of production This paper aims to contribute to this literature in two ways, first, exploring alternative indexes of R&D flows embodied in inter-country, inter-sectorial flows of good and services (as approximation to technology spillovers) capturing structural and technological characteristic of countries and, second, analyzing the impact of direct and embodied R&D on the evolution of labor productivity at the country/sector level in recent decades. The traditional way of calculation through a multiregional input-output framework assumes that all countries have the same capabilities to absorb technology, but it is not, each one has different structural features and, this implies, different capabilities as part of literature, claim. In order to capture these differences, we propose to use a weight based on specialization structure indexes; one related with the specialization of countries in high-tech sectors and the other one based on a dispersion index. We propose these two measures because, as far as we understood, country capabilities can be captured through different ways; countries specialization in knowledge-intensive sectors, such as Chemicals or Electrical Equipment, or an intermediate technology effort across different sectors. Results suggest the increasing importance of country capabilities while increasing the trade openness. Besides, if we focus in the country rankings, we can observe that with high-tech weighted R&D embodied countries as China, Taiwan and Germany arose the top five despite not having the highest intensities of R&D expenditure, showing the importance of country capabilities. Additionally, through a fixed effects panel data model we show that, in fact, R&D embodied is important to explain labor productivity increases, in fact, even more that direct R&D investments. This is reflecting that globalization is more important than has been said until now. However, it is true that almost all analysis done in relation with that consider the effect of t-1 direct R&D intensity over economic growth. Nevertheless, from our point of view R&D evolve as a delayed flow and it is necessary some time to be able to see its effects on the economy, as some authors have already claimed. Our estimations tend to corroborate this hypothesis obtaining a gap between 4-5 years.

Keywords: economic growth, embodied, input-output, technology

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Authors: Sandeep Reddy, Sonia Allan, Simon Coghlan, Paul Cooper

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Artificial Intelligence (AI) and its application in medicine has generated ample interest amongst policymakers and clinicians. Successes with AI in medical imaging interpretation and clinical decision support are paving the way for its incorporation into routine healthcare delivery. While there has been a focus on the development of ethical principles to guide its application in healthcare, challenges of this application go beyond what ethics principles can address thus requiring robust governance frameworks. Also, while ethical challenges of medical artificial intelligence are being discussed, the ethics of deploying AI in lower-income countries receive less attention than in other developed economies. This creates an imperative not only for sound ethical guidelines but also for robust governance frameworks to regulate AI in medicine around the world. In this article, we discuss what components need to be considered in developing these governance frameworks and who should lead this worldwide effort.

Keywords: artificial intelligence, global health, governance, ethics

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Authors: Olakunle Felix Adekunle

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Innovation has become the key to firm success, and entrepreneurial leadership displayed by the top management team fundamentally drives innovation in firms. This paper discusses findings from an empirical study of factors influencing the success of firms operating in developing economies in an industry where science drives the pace of change. We find that success of firms in such industries depends on thriving innovation activity that in turn is primarily driven by effective entrepreneurial leadership of the top management team. The paper presents the dimensions of entrepreneurial leadership and its linkage to innovation and firm success in the form of testable propositions. Finally, a preliminary theory of firm success in industries where science drives the pace of change is also inducted from this empirical study and presented.

Keywords: leadership, innovation, firms, economic, efficiency, industry, resources

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Authors: Jungeun Cho

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Social finance has received increasing attention as a means to promote the growth of regional economies. Despite the plenty of research discussed their critical role and functions in regional economic development such as the financing and promotion of co-operatives or social enterprises and the offering credit to the financially excluded in the region, however, rarely are efforts made to measure the contribution of social finance in the regional economy. It is essential to establish an evaluation model in order to encourage social finance institutions to perform their supposed role and functions on regional economic development. The objective of this paper is to formulate an evaluation model of the contribution of social finance to the regional economy through an analytic hierarchy process (AHP) approach. This study is expected to provide useful guidelines for social finance institutions’ strategies and the policies of local or central government regarding social finance.

Keywords: social finance, regional economy, social economy, policies of local or central government

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Authors: S. Muogbo Uju, U. Akpunonu Evan

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The prevailing harsh environment factors coupled with high poverty rate and unemployment propels a high rate of entrepreneurial activities in developing economies. Women entrepreneurs operate with gender bias among other constraints that can constitute a threats or create opportunity for women entrepreneurs. This empirical paper investigates and critically examines women entrepreneurship as an inventive approach to ensure a sustainable development in Anambra state. The study used descriptive statistics (frequencies, mean, and percentages) to answer the three research questions posed. Hypotheses testing were done with Pearson product moment correlation and multiple regression were employed in data analysis. Consequently, the finding of this study portrayed a significant impact between women entrepreneurship activity, job creation and wealth creation.

Keywords: women entrepreneurs, skill acquisition, sustainability, wealth creation, job creation, economic development

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Authors: Anatoliy A. Alabugin, Nikolay K. Topuzov, Sergei V. Aliukov

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It is well known, that while we do a quantitative evaluation of the quality control of some economic processes (in particular, resource saving) with help innovation factors, there are three groups of problems: high uncertainty of indicators of the quality management, their considerable ambiguity, and high costs to provide a large-scale research. These problems are defined by the use of contradictory objectives of enhancing of the quality control in accordance with innovation factors and preservation of economic stability of the enterprise. The most acutely, such factors are felt in the countries lagging behind developed economies of the world according to criteria of innovativeness and effectiveness of management of the resource saving. In our opinion, the following two methods for reconciling of the above-mentioned objectives and reducing of conflictness of the problems are to solve this task most effectively: 1) the use of paradigms and concepts of evolutionary improvement of quality of resource-saving management in the cycle "from the project of an innovative product (technology) - to its commercialization and update parameters of customer value"; 2) the application of the so-called integrative-cyclical approach which consistent with complexity and type of the concept, to studies allowing to get quantitative assessment of the stages of achieving of the consistency of these objectives (from baseline of imbalance, their compromise to achievement of positive synergies). For implementation, the following mathematical tools are included in the integrative-cyclical approach: index-factor analysis (to identify the most relevant factors); regression analysis of relationship between the quality control and the factors; the use of results of the analysis in the model of fuzzy sets (to adjust the feature space); method of non-parametric statistics (for a decision on the completion or repetition of the cycle in the approach in depending on the focus and the closeness of the connection of indicator ranks of disbalance of purposes). The repetition is performed after partial substitution of technical and technological factors ("hard") by management factors ("soft") in accordance with our proposed methodology. Testing of the proposed approach has shown that in comparison with the world practice there are opportunities to improve the quality of resource-saving management using innovation factors. We believe that the implementation of this promising research, to provide consistent management decisions for reducing the severity of the above-mentioned contradictions and increasing the validity of the choice of resource-development strategies in terms of parameters of quality management and sustainability of enterprise, is perspective. Our existing experience in the field of quality resource-saving management and the achieved level of scientific competence of the authors allow us to hope that the use of the integrative-cyclical approach to the study and evaluation of the resulting and factor indicators will help raise the level of resource-saving characteristics up to the value existing in the developed economies of post-industrial type.

Keywords: integrative-cyclical approach, quality control, evaluation, innovation factors. economic sustainability, innovation cycle of management, disbalance of goals of development

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Authors: A. M. Jungudo, M. A. Lasan

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Affordable housing has long been one of the basic necessities of life to man. The ever rising prices of building materials are one of the major causes of housing shortage in many developing countries. Breaching the gap of housing needs in developing countries like Nigeria is an awaiting task longing for attention. This is due to lack of research in the development of local materials that will suit the troubled economies of these countries. The use of earth material to meet the housing needs is a sustainable option and its material is freely available universally. However, people are doubtful of using the earth material due to its modest outlook and uncertain durability. This research aims at enhancing the durability of Compressed Earth Bricks (CEBs) using stone dust as a stabilizer. The result indicates that partial replacement of lateritic soil with stone dust at 30% improves its compressive strength along with abrasive resistance.

Keywords: earth construction, durability, stone dust, sustainable

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Authors: Ma'amun Muhammed

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The ability of smartphones in enhancing communication, providing access to business and serving as a pool for information retrieval has a far reaching and potentially beneficial impacts on enhancing teaching in higher institutions in the developing countries like Nigeria. Nigeria as one of the fast growing economies in Africa, whose citizens patronize smartphones can utilize this opportunity by inculcating the culture of using smartphones not only for communication, business transaction, banking etc. but also for enhancing teaching in the higher institutions. Smartphones have become part and parcel of our lives, particularly among young people. The primary objective of this paper is to ascertain the use of smartphones in enhancing teaching in Nigeria’s higher institutions, to achieve this, content analysis was used thoroughly. This paper examines the opportunities offered by smartphones to the students of higher institutions of learning, the challenges being faced by lecturers of these institutions in classrooms. Lastly, it offers solution on how some of these critical challenges will be overcame, so as to utilize the technology of these devices.

Keywords: communication, information retrieval, mobile phone, smartphones teaching

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Authors: Wen Chiat Lee, K. Kuperan Viswanathan

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Illegal, Unreported and unregulated (IUU) fishing brings great losses to the economies of the fishing nations. Understanding the reasons contributing to IUU fishing is crucial in reducing it. Economic, institutional and social factors are key drivers of IIU fishing. The economic factor is the main contributor to IUU fishing. The two possible ways to curb the IUU fishing is highlighted. One way is to reduce the revenue from IUU fishing and another way is to increase the cost of IUU fishing. There are three costs of IUU fishing that can be increased namely the operating, capital and risk costs. Approaches for reducing the economic rent or profit from IUU fishing are developed and directions for reducing IUU fishing are also suggested. Improved registration of fishing vessels, preventing entry of illegal fish products and most importantly, developing co-management of fisheries are the ways forward for reducing IUU fishing. All governments in ASEAN must work in tandem with the stakeholders involved such as fishers, fishermen agencies or associations to exchange information for reducing the transaction cost of IUU fishing.

Keywords: Illegal, unreported and unregulated (IUU) fishing, co-management, fisheries management, economic rent framework

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Authors: T. A. Mona M. Salem, Ali F. Bakr

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Given the potential devastation associated with future climate change related disasters, it is vital to change the way we build and manage our cities, through new strategies to reconfigure them and their infrastructures in ways that help secure their reproduction. This leads to a kaleidoscopic view of the city that recognizes the interrelationships of energy, water, transportation, and solid waste. These interrelationships apply across sectors and with respect to the built form of the city. The paper aims at a long-term climate resilience of cities and their critical infrastructures, and sets out an argument for including an eco-infrastructure-based approach in strategies to address climate change. As these ecosystems have a critical role to play in building resilience and reducing vulnerabilities in cities, communities and economies at risk, the enhanced protection and management of ecosystems, biological resources and habitats can mitigate impacts and contribute to solutions as nations and cities strive to adapt to climate change.

Keywords: ecology, ecosystem, infrastructure, climate change, urban

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Authors: Deycy Janeth Sanchez Preciado, Bjorn Claes, Paola Andrade

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The development of appropriate environmentally friendly technologies has aided communities in rural areas in emerging economies to better use their natural resources, increase productivity while reducing pollution. Moreover, it has improved their innovation capabilities and ability to develop products for new markets. However, despite the advances, the adoption of these technologies is not generalized and does not always show the expected benefits for the communities and other actors involved in the co-creation process. In this paper, we study the barriers that inhibit the adoption of technologies to reach innovation levels and study comparative cases in rural areas of Cauca in Colombia. We develop and test a theory grounded framework, and we compile an overview of the most important of barriers.

Keywords: technology adoption, environmentally friendly technology, developing countries, rural production, innovation, appropriate technology

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Authors: Ignitia Motjolopane

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Small and medium enterprises (SMEs) play an important role in economies by contributing to economic growth and employment. In the fourth industrial revolution, the convergence of technologies and the changing nature of work created pressures on economies globally. Generative artificial intelligence (AI) may support SMEs in exploring, exploiting, and transforming business models to align with their growth aspirations. SMEs' growth aspirations fall into four categories: subsistence, income, growth, and speculative. Subsistence-oriented firms focus on meeting basic financial obligations and show less motivation for business model innovation. SMEs focused on income, growth, and speculation are more likely to pursue business model innovation to support growth strategies. SMEs' strategic goals link to distinct business model innovation paths depending on whether SMEs are starting a new business, pursuing growth, or seeking profitability. Integrating generative artificial intelligence in start-up SME business model innovation enhances value creation, user-oriented innovation, and SMEs' ability to adapt to dynamic changes in the business environment. The existing literature may lack comprehensive frameworks and guidelines for effectively integrating generative AI in start-up reiterative business model innovation paths. This paper examines start-up business model innovation path with generative artificial intelligence. A theoretical approach is used to examine start-up-focused SME reiterative business model innovation path with generative AI. Articulating how generative AI may be used to support SMEs to systematically and cyclically build the business model covering most or all business model components and analyse and test the BM's viability throughout the process. As such, the paper explores generative AI usage in market exploration. Moreover, market exploration poses unique challenges for start-ups compared to established companies due to a lack of extensive customer data, sales history, and market knowledge. Furthermore, the paper examines the use of generative AI in developing and testing viable value propositions and business models. In addition, the paper looks into identifying and selecting partners with generative AI support. Selecting the right partners is crucial for start-ups and may significantly impact success. The paper will examine generative AI usage in choosing the right information technology, funding process, revenue model determination, and stress testing business models. Stress testing business models validate strong and weak points by applying scenarios and evaluating the robustness of individual business model components and the interrelation between components. Thus, the stress testing business model may address these uncertainties, as misalignment between an organisation and its environment has been recognised as the leading cause of company failure. Generative AI may be used to generate business model stress-testing scenarios. The paper is expected to make a theoretical and practical contribution to theory and approaches in crafting a robust business model innovation path with generative artificial intelligence in start-up SMEs.

Keywords: business models, innovation, generative AI, small medium enterprises

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Authors: Abiodun Musbau Lawal, Sunday Samson Babalola, Uzor Friday Ordu

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Issue of employees counterproductive work behavior in government owned organization in emerging economies has continued to be a major concern. This study investigated the factors of pay satisfaction, intent to leave and age as predictors of counterproductive work behavior among non-academic employee in a Nigerian federal government owned university. A sample of 200 non-academic employees completed questionnaires. Hierarchical multiple regression was conducted to determine the contribution of each of the predictor variables on the criterion variable on counterproductive work behavior. Results indicate that age of participants (β = -.18; p < .05) significantly independently predicted CWB by accounting for 3% of the explained variance. Addition of pay satisfaction (β = -.14; p < .05) significantly accounted for 5% of the explained variance, while intent to leave (β = -.17; p < .05) further resulted in 8% of the explained variance in counterproductive work behavior. The importance of these findings with regards to reduction in counterproductive work behavior is highlighted.

Keywords: counterproductive, work behaviour, pay satisfaction, intent to leave

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Authors: Asror Nigmonov Asqar Ogli, Sitora Inoyatova Amonovna

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It has been a decade when the crowdfunding and P2P lending opportunities were created. Today, the market of these modern alternative investments is becoming increasingly complex to navigate. There are overwhelming amount of peer-to-peer lending platforms both in developed and emerging economies. This study looks into this market via the cross country empirical study. In this respect, it tests the effect of various macroeconomic factors on P2P loan lending. Based on the existing literature that largely lacks empirical investigations, it builds regression model that aims to explore the relationship between economy and P2P lending. Though the author found it extremely difficult to compare the findings with earlier studies, this paper had identified certain tendencies in the data and had certain policy implications. However, the paper could not find any significant effect of economic variables on P2P lending. The paper can be considered as a starting point in empirical investigation of P2P lending and highlights room further research based on limitations of the study.

Keywords: peer-to-peer lending, crowdfunding, marketplace lending, alternative finance, fintech

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Authors: Ananya Mitra Pramanik, Anjali Agrawal

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This paper traces the waste produced by the textile industry and evaluates the need for this waste to be reused or repurposed. From ancient times the textile industry has been a prominent part of all the economies of the world. It is famous for traditional as well as mill made fabrics. However the beauty and utility radiated by the textiles are juxtaposed by the piling amount of waste that the whole life cycle of a textile production and disposal entails. Waste happens in stages in a textile life cycle. It can be broadly categorised as pre-consumer and post-consumer waste. This research suggests suitable processes and techniques for channelizing post-industrial waste. It explores the scope of textile waste as a raw material for innovation and design. It discusses the role of designers in using waste to create useful and appealing designs. The paper examines the need of designers to create novel ideas to reuse textiles. This paper is based on secondary research. Most of the information used is taken from books and journals. The DEFRA report 2009 is also consulted for comprehensive data on textile waste percentage.

Keywords: designers, repurposing, textiles, waste

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Authors: Xiaowen Zhang, Wanda Luen-Wun Siu

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The paper reviews the insights gained in combating COVID-19 in the US, Japan, and China. After evaluation and investigation, we found that China’s and Japan’s experience of fighting COVID-19 is commendable. The Chinese government and the Japanese administration have implemented highly effective governance and public health course of action to fight COVID-19. Government-led epidemic control with a staunch belief in science can roll out effective pandemic control strategies. In contrast, the US failed to react to COVID-19 effectively. The relaxed public health measures of ending shutdowns prematurely were not working. When the US keeps business open after the spring shutdown, COVID-19 cases are soaring. Such experiences inform us effective governance and a mandatory and stricter approach can better curb a pandemic than milder measures in handling a public health emergency. And China and Japan, where collectivistic culture reins, can better maneuver a public health crisis with collective efforts.

Keywords: US, China, Japan, COVID-19

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Authors: Sudhaveni Naresh

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Emigration is not a new phenomenon in India but globalization has reinforced it. India has been a source of emigrants for many countries for a long period. Over 25 million Indian diaspora is spread across the world. Historically, during the British rule indenture labour from India was sent to other colonies. To regulate indentured emigration and to provide a mechanism for emigration, the British India government enacted Emigration Act, 1922. After independence, a majority of unskilled and semi-skilled labour emigrated to Gulf and South-East Asia, whereas white-collar workers preferred North America, Europe and Australia. They are contributing to both the economies in origin and destination. Due to increasing quantum of emigration, the Ministry of Labour enacted Emigration Act, 1983, which deals with the emigration of Indian workers for overseas employment on contractual basis, seeks to safeguard emigrants’ interest and ensures their welfare. The paper explains the reason behind enacting Emigration Act, 1983, and the changes in the form of an Emigration (Amendment) Rules, 2009. This paper examines the current status, effectiveness of the Act and rules.

Keywords: economic growth, emigrants, Emigration Act 1983, remittance

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

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

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

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Authors: Shubhangi Roy

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Relational Contracts (informal understandings not enforceable by law) are a common feature of most economies. However, their dominance is higher in developing countries. Such informality of economic sectors is often co-related to lower economic growth. The aim of this paper is to investigate whether informal arrangements i.e. relational contracts are a cause or symptom of lower levels of economic and/or institutional development. The methodology followed involves an initial survey of 150 test subjects in Northern India. The subjects are all members of occupations where they frequently transact ensuring uniformity in transaction volume. However, the subjects are from varied socio-economic backgrounds to ensure sufficient variance in transaction values allowing us to understand the relationship between the amount of money involved to the method of transaction used, if any. Questions asked are quantitative and qualitative with an aim to observe both the behavior and motivation behind such behavior. An overarching similarity observed during the survey across all subjects’ responses is that in an economy like India with pervasive corruption and delayed litigation, economy participants have created alternative social sanctions to deal with non-performers. In a society that functions predominantly on caste, class and gender classifications, these sanctions could, in fact, be more cumbersome for a potential rule-breaker than the legal ramifications. It, therefore, is a symptom of weak formal regulatory enforcement and dispute settlement mechanism. Additionally, the study bifurcates such informal arrangements into two separate systems - a) when it exists in addition to and augments a legal framework creating an efficient socio-legal equilibrium or; b) in conflict with the legal system in place. This categorization is an important step in regulating informal arrangements. Instead of considering the entire gamut of such arrangements as counter-development, it helps decision-makers understand when to dismantle (latter) and when to pivot around existing informal systems (former). The paper hypothesizes that those social arrangements that support the formal legal frameworks allow for cheaper enforcement of regulations with lower enforcement costs burden on the state mechanism. On the other hand, norms which contradict legal rules will undermine the formal framework. Law infringement, in presence of these norms, will have no impact on the reputation of the business or individual outside of the punishment imposed under the law. It is especially exacerbated in the Indian legal system where enforcement of penalties for non-performance of contracts is low. In such a situation, the social norm will be adhered to more strictly by the individuals rather than the legal norms. This greatly undermines the role of regulations. The paper concludes with recommendations that allow policy-makers and legal systems to encourage the former category of informal arrangements while discouraging norms that undermine legitimate policy objectives. Through this investigation, we will be able to expand our understanding of tools of market development beyond regulations. This will allow academics and policymakers to harness social norms for less disruptive and more lasting growth.

Keywords: distribution of income, emerging economies, relational contracts, sample survey, social norms

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Authors: Vishal Jaunky, Jonas Grafström

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The development of the European Union’s (EU) single economic market and rapid technological change has resulted in major structural changes in EU’s member states economies. The general liberalization process that the countries has undergone together has convinced the governments of the member states of need to upgrade their economic and training systems in order to be able to face the economic globalization. Several signs of economic convergence have been found but less is known about the knowledge production. This paper addresses the convergence pattern of technological innovation in 13 European Union (EU) states over the time period 1990-2011 by means of parametric and non-parametric techniques. Parametric approaches revolve around the neoclassical convergence theories. This paper reveals divergence of both the β and σ types. Further, we found evidence of stochastic divergence and non-parametric convergence approach such as distribution dynamics shows a tendency towards divergence. This result is supported with the occurrence of γ-divergence. The policies of the EU to reduce technological gap among its member states seem to be missing its target, something that can have negative long run consequences for the market.

Keywords: convergence, patents, panel data, European union

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Authors: Svetlana Gusarova

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The essential role in the recent development of world economy has led to the developing countries, notably to BRICS countries (Brazil, Russia, India, China, South Africa). Over the next 50 years the BRICS countries are expected to be the engines of global trade and economic growth. Trade cooperation of BRICS countries can enhance their economic development. BRICS countries were among Top 10 world exporters of office and telecom equipment, of textiles, of clothing, of iron and steel, of chemicals, of agricultural products, of automotive products, of fuel and mining products. China was one of the main trading partners of all BRICS countries, maintaining close relationship with all BRICS countries in the development of trade. Author analyzed trade complementarity of BRICS countries and revealed the high level of complementarity of their trade flows in connection with availability of specialization in different types of goods. The correlation and regression analysis of communication of Intra-BRICS merchandise turnover and their GDP (PPP) revealed very strong impact on the development of their economies.

Keywords: BRICS countries, trade cooperation, complementarity, regression analysis

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Authors: Yi Wang, Greg Hearn, Terry Flew

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In order to understand how cultural innovation occurs, this paper explores the interaction in Shenzhen of China between universities, creative industries, and government in creative economic using the Triple Helix framework. During the past two decades, Triple Helix has been recognized as a new theory of innovation to inform and guide policy-making in national and regional development. Universities and governments around the world, especially in developing countries, have taken actions to strengthen connections with creative industries to develop regional economies. To date research based on the Triple Helix model has focused primarily on Science and Technology collaborations, largely ignoring other fields. Hence, there is an opportunity for work to be done in seeking to better understand how the Triple Helix framework might apply in the field of creative industries and what knowledge might be gleaned from such an undertaking. Since the late 1990s, the concept of ‘creative industries’ has been introduced as policy and academic discourse. The development of creative industries policy by city agencies has improved city wealth creation and economic capital. It claims to generate a ‘new economy’ of enterprise dynamics and activities for urban renewal through the arts and digital media, via knowledge transfer in knowledge-based economies. Creative industries also involve commercial inputs to the creative economy, to dynamically reshape the city into an innovative culture. In particular, this paper will concentrate on creative spaces (incubators, digital tech parks, maker spaces, art hubs) where academic, industry and government interact. China has sought to enhance the brand of their manufacturing industry in cultural policy. It aims to transfer the image of ‘Made in China’ to ‘Created in China’ as well as to give Chinese brands more international competitiveness in a global economy. Shenzhen is a notable example in China as an international knowledge-based city following this path. In 2009, the Shenzhen Municipal Government proposed the city slogan ‘Build a Leading Cultural City”’ to show the ambition of government’s strong will to develop Shenzhen’s cultural capacity and creativity. The vision of Shenzhen is to become a cultural innovation center, a regional cultural center and an international cultural city. However, there has been a lack of attention to the triple helix interactions in the creative industries in China. In particular, there is limited knowledge about how interactions in creative spaces co-location within triple helix networks significantly influence city based innovation. That is, the roles of participating institutions need to be better understood. Thus, this paper discusses the interplay between university, creative industries and government in Shenzhen. Secondary analysis and documentary analysis will be used as methods in an effort to practically ground and illustrate this theoretical framework. Furthermore, this paper explores how are creative spaces being used to implement Triple Helix in creative industries. In particular, the new combination of resources generated from the synthesized consolidation and interactions through the institutions. This study will thus provide an innovative lens to understand the components, relationships and functions that exist within creative spaces by applying Triple Helix framework to the creative industries.

Keywords: cultural policy, creative industries, creative city, triple Helix

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Authors: Xavier Ruiz Del Portal

Abstract:

This paper incorporates mobility between the legal and black economies into a model of tax evasion with endogenous labor supply in which underreporting is possible in one sector but impossible in the other. We have found that the results of the effects along the extensive margin (number of evaders) become more robust and conclusive than those along the intensive margin (hours of illegal work) usually considered by the literature. In particular, it is shown that the following policies reduce the number of evaders: (a) larger and more progressive evasion penalties; (b) higher detection probabilities; (c) an increase in the legal sector wage rate; (d) a decrease in the moonlighting wage rate; (e) higher costs for creating opportunities to evade; (f) lower opportunities to evade, and (g) greater psychological costs of tax evasion. When tax concealment and illegal work also are taken into account, the effects do not vary significantly under the assumptions in Cowell (1985), except for the fact that policies (a) and (b) only hold as regards low- and middle-income groups and policies (e) and (f) as regards high-income groups.

Keywords: income taxation, tax evasion, extensive margin responses, the penalty system

Procedia PDF Downloads 150

Authors: A. Binnui, O. Kalinowska-Beszczynska, G. Shaw

Abstract:

It is postulated that innovative deployment of entrepreneurial activities leads to firm's growth. This paper draws upon the key predictions of the core theories on entrepreneurship and innovation to formulate a conceptual framework which can be used to depict the casual chain of events from which entrepreneurs can manage more innovatively and ultimately deliver higher growth which benefits of the regional and national economies. It examines the key firm-based factors extracted from the theories, namely the characteristics of entrepreneurial hi-tech firms, characteristics of innovating firms, and firm growth dynamics that lead to enhanced economic growth. The framework postulates that the key determinants extracted such as entrepreneurial demographics, firm characteristic, skills and competencies, research and development, product/service characteristics, market development, financial of the firm and internationalization might lead to the survival and long term development of high-technology startups.

Keywords: innovative entrepreneurial activities, entrepreneuship, determinants, growth, hi-technology start-upws

Procedia PDF Downloads 136